Hello <<First Name>>,

AmCham Mongolia Daily Newswire

February 14, 2019

Sponsored by
Cabinet ministers to report on development projects next week
Cabinet reviewed 12 issues during its regular session, and Prime Minister U. Khurelsukh asked five Cabinet ministers to report on on-going development projects in the next session. Minister of Mining and Heavy Industry D. Sumiyabazar will report on the Erdenes Tavan Tolgoi IPO preparations, and the Minister of Nature, Environment, and Tourism will report on project updates and cooperation between Cabinet ministries and Ulaanbaatar authorities concerning the raw coal ban taking effect in May 2019. Minister of Energy Ts. Davaasuren is expected to report on efforts to increase the capacity of a state-owned refined coal factory, creating a coal reserve, and coal quality inspection results. Minister of Road and Transportation Development B. Enkh-Amgalan will report on the Tavan Tolgoi railway and road construction updates. Minister of Construction and Urban Development Kh. Badelkhan will be reporting on the construction of Ulaanbaatar's new wastewater treatment plant.

The Official Gazette /page 2/
Erdene Resource Development plans to generate 1.75 million CAD on the TSE
Erdene Resource Development, dual-listed on the Mongolian and Toronto stock exchanges (TSE), reported that the company is releasing 7.6 million stocks on the Toronto Stock Exchange at 0.23 CAD per share. The company plans to generate 1.75 million CAD to finance the Khundii gold project’s feasibility study, to obtain licenses, and to finance its current assets. Stock orders will start by February 28, and each share will come with a stock warrant, which will allow stockholders to buy underlying stocks of the company at a fixed price within a given period.

Today /page A1/
Tavan Tolgoi releases its 2018 annual report
Tavan Tolgoi JSC released its 2018 annual financial report and reported that its total sales reached 226.4 billion MNT in 2018, dropping by 47 percent compared to 2017. The company’s net profit reached 52.6 billion MNT in 2018, dropping by 62.7 percent compared to 2017. Based on the company's net profit, a dividend yield of 998.7 MNT per share has been predicted. Tavan Tolgoi’s operations stopped for two months in 2018, during the investigation of its coal operations, which caused a net profit decrease in 2018. The company’s 2018 net profit was close to its 2016 net profit, when the dividend yield was 872 MNT per share. 
Today /page A1/
Mongolia's 2018 economic growth may be higher than expected
The Bank of Mongolia (BoM) reported that economic growth in 2018 could exceed the central bank's expectations. The economic conditions met were higher than expected, with predictions of 6 to 6.5 percent growth from the BoM, Asian Development Bank, and International Monetary Fund. The government stated that economic growth could be 7.1 percent, based on preliminary financial estimates. The National Statistical Office will report on 2018's official economic growth by the end of this week. Analyst J. Delgersaikhan stated that net tax on factories, products, and services, which is one of the main factors in driving economic growth, is likely to represent more than one percent of the nation's growth.
This email was sent to <<Email Address>>

Copyright © 2019 AmCham Mongolia, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.