Forecasts and recommendations of analysts of IFH "RESMI" (Kazakhstan) for December 25, 2009

/IRBIS, December 25, 09/ - Finance & Investment House "RESMI" JSC (Almaty, IFH "RESMI") provided IRBIS overview of major events and their investment ideas and projections for December 25, 2009. Analysts now paying attention to the following investors' significant events: - Lokomotiv diversification of the economy: The program of forced industrial- innovative development of Kazakhstan. According to the Minister of Industry and Trade Aset Isekesheva, "The program of forced industrial- innovative development of Kazakhstan" will be launched in the first quarter of 2010 and will cost at least $ 50 billion in funds to implement the program is planned to attract through public-private partnership. Thus, the funds will be due to the budget for infrastructure projects, often at the expense of resources "NWF" Samruk-Kazyna, the credit resources of the Chinese banks, the resources of the European Bank, Eurasian Development Bank, Development Bank of Kazakhstan, as well as domestic and foreign investment. - Given the scope of industries under the program of forced industrial- innovative development of Kazakhstan, the Ministry has positioned the program as an engine of economic diversification in Kazakhstan in the next 3-5 years. Already, foreign investors are showing interest in investing in Kazakhstan through its participation in the program. For example, the Turkish company Calik holding an interest in projects in light industry, construction industry, energy and chemical industries, and Italian Parigi Group ready to invest in health, transport and logistics Kazakhstan. However, from the domestic private companies active yet. Analysts of IFH "RESMI" give the following advice for investors in securities of issuers in Kazakhstan: --------------------------------------------------------------------------- Issuer Last price Predicted price* Up/down from Target RSI, Current price price** %*** ------------------ ---------- ---------------- ------------- ------- ------ Kazkommertsbak 630 912 +44.8% 1,096 47.92 Halyk bank 322 409 +27.1% 1,118 Bank Center Credit 730 1,218 +66.9% 935 44.67 ENRC 2,100 On review 2,598 43.62 Kazakhmys 3,000 On review 3,452 45.52 RD KMG 21,550 26,380 +22.4% 26,526 Kazkhtelekom 18,400 33,842 +83.9% 21,700 42.60 --------------------------------------------------------------------------- Fundamental evaluation IFH "RESMI" for 12 months (weekly review) ** Target according to the consensus forecast of analysts surveyed by Bloomberg *** Relative strength index - an indicator of technical analysis. determines strength of trend and likelihood of change. Overbought / oversold - when RSI indicator value is closer to 100% / 0% After correction occurred analysts IFH RESMI expect growth in the value of ordinary shares Kazkommertsbank. According to the IFH RESMI these papers will be worth no less than 912 tenge per share by the end of 2010; Halyk Savings Bank of Kazakhstan is estimated IFH RESMI as the most promising in terms of business development financial institution in Kazakhstan. According to the IFD "RESMI" growth is possible up to 409 tenge per share; Shares of Bank CenterCredit in the long-horizon investment analysts IFD "RESMI" about the outlook for growth in bank securities to a level 1 230 m.; Shares of Kazakhtelecom look the most attractive for investment in the long term. Analysts IFD "RESMI" believe that the potential for growth compared with the current price of 84% and recommend buying simple shareholders of the issuer. JSC Exploration Production KazMunaiGas - the company is actively consolidating oil and gas sector in Kazakhstan, which exports about 80% of its oil. Provision is 5% of the total volume of proven reserves in Kazakhstan. Analysts of IFH "RESMI" sees upside of 23% in the conservative approach - ie, while maintaining the production level as in 2008, increased capex in 1,5 times, acquiring 50% stake in Mangistaumunaigaz and at an average price of oil at $ 65/barrel. The given material has exclusively information character and is not the offer or recommendation to make any transactions with the stocks. Agency Irbis doesn't take responsibility for the opinions which are in given material. [2009-12-25]