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AmCham Mongolia Daily Newswire

February 11, 2019

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New Cabinet Secretariat shares his priority plans for 2019
New Head of the Cabinet Secretariat L. Oyun-Erdene held an extended press conference and stated that he will concentrate on working on resolving the issues of Erdenet Mining Corporation’s shares and Development Bank of Mongolia’s (DBoM) bond proceeds. L. Oyun-Erdene individually met with Cabinet officials and asked DBoM’s Board of Directors to provide an update on its loan repayments and non-performing loans. He also said he will investigate the government's bond repayment issues.

The Century News /page 2/
ADB projected a 130 million USD loan for air pollution reduction
Asian Development Bank (ADB) started financing a 130 million USD loan to support the state's air pollution reduction efforts in Ulaanbaatar in 2018. The proposed project length is one year and has financed 100 million USD in financing to vaccinate 40,000 children between the ages of 0-5 and to provide enhanced coal briquettes to qualified households, reduce the number of low-pressure stoves being used, and to connect homes to the city's central heating system. ADB projects in Mongolia concentrate on reducing air and soil pollution, particularly in Ulaanbaatar.

Today /page B1/
NBFIs to increase their share capital to 1.4 billion MNT
The Financial Regulatory Commission (FRC) asked Mongolia's non-banking financial institutions (NBFIs) to raise their individual share capital to 1.4 billion MNT by January 2019, to strengthen NBFIs operations and to increase total share capital in the market. Currently, 540 NBFIs are operating in the Mongolian market, and their combined share capital totaled 1.3 trillion MNT in 2018, double its value in 2016, and up to 35 percent higher than its value in 2017. The FRC has approved the requests of 23 NBFI s to increase their share capital by 9 billion MNT.
The Official Gazette /page 11/
Three Mongolian JSCs release their annual reports
Three companies registered on the Mongolian Stock Exchange (MSE) have released their annual reports for 2018. LendMN, which successfully released an IPO last year, reported that the company’s net profit reached 2.5 billion MNT in 2018 and that it is ready to share dividend yields. Mongol Savkhi reported that their total sales reached 270 million MNT in 2018, rising by 9.4 percent compared to 2017. State-owned Darkhan Thermal Power Plant reported that its net loss reached 1.8 billion MNT in 2018, dropping by 25 percent compared to 2017. Last year, out of 220 companies registered on the MSE, 130 companies submitted annual reports. The MSE says that it will remove companies from the MSE who haven't published their annual reports and those that haven't held a Board of Directors meeting to protect the interests of their investors.
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