Market reviews and recommendations of BCC Invest JSC (Kazakhstan) analysts for March 11, 2010

/IRBIS, March 11, 2010/ - BCC Invest JSC has provided IRBIS with a survey of main events, market reviews and investment ideas for March 11, 2010. JSC BCC Invest is noted the following important events in the market: Reporting of Bank CenterCredit for 2009: Financial results are not impressive. BCC has published audited consolidated financial statements under IFRS for the year 2009, according to which bank assets in 2009 increased to KZT 220 billion (or 23.4%) from KZT 940.5 billion to KZT 1,161 billion, liabilities of the bank during the reporting period rose 26% to KZT 1,063 billion, equity capital - at 3% to KZT 97.6 bn. Net interest income (before provisions) for 2008 amounted to KZT 111.6 billion and decreased as compared with the same period last year at 19.1%, while net profit decreased by 41.0% and amounted to KZT 3.45 billion reduction of net profit attributable to the bank, above all, increasing the level of provisions. Net interest income turned positive, but decreased in comparison with 2008 for 86.3% - up to KZT 3.45 billion decline in this indicator has been offset by the growth of net non-interest income, which in 2009 amounted to KZT 24.26 billion, mainly due to net income from the early repayment obligations. Loans to customers and banks in 2009 increased by comparison with 2008 by 2.7%. In 2009, the substitution occurred at the credit portfolio investment that was characteristic of the banking sector as a whole. In 2009 the 2.3-fold increased investments held for trading. Positive aspect was the increase in clients' funds and banks in 2009 to 54.3% - up KZT665.515 billion. In opinion of analysts ofASYL INVEST the published reports are won't strongly influence to the course of shares of traded bank, because weak financial results were negative, but expected. Sunkar Resources plc: Operating results Chilisay. Yesterday the company issued a press release about the production owned by the results of her project for the production of phosphate fertilizers on phosphate ore deposit Chilisay in Kazakhstan. According to a press release, the company produced 1.02 million tons of ore in 2009, which fully complies with the plans of the company and satisfies the obligations under the contract subsoil. With the start of production in 2008, the company received additional experience and results of a study of factors affecting the extraction process and confirms that the work on the extraction of ore can be conducted year round. In the process of enriching the company processed 180 thousand tons of ore and produced 90 thousand tons of phosphorite concentrate with 17% of the content of P205 and the level of extraction of 79%. The company currently has construction plant and railroad complex. The company has spent about $ 2.5 million for construction of the complex in 2009. The total cost of about $ 7 million and the planned date of putting the facility into operation is scheduled for 2 square. 2010. The 3 square. In 2010 the company plans to begin shipping products to local farmers. During the past year the company tried to save money by grinding of the concentrate in enterprises producing cement, however, high capacity utilization data for enterprises did not convenient for the processing of foreign facilities. As a result, it was decided to build its own plant. In the press release also stated that the company's cash position at the beginning of the year totaled $ 18.5 million news and results of the company are positive. In the near future, the company plans to announce the results of feasibility study on the production of ammonium phosphate fertilizers. Analysts of ASYL INVEST believe that these results will have impact on the future dynamics of the value of the company. Uranium One: The accounts for 2009 better than expected, good forecasts for 2010. After the close of trading yesterday, the company issued financial statements for the 4 quarter and full year 2009. As well as operating results for the first two months of this year. The company's revenues in 2009 totaled $ 152 million, against forecasts of $ 143 million net loss the company made $ 36 million, almost half the forecast of $ 75.5 million loss per share was $ 0.08 against forecasts of $ 0,092. The company forecasts production of uranium at the level of 6.8 million pounds in 2010 and 8 million pounds v2011 year. In 2009 production was 3.6 million pounds in 2008 - 2.9 million pounds. The first two months of 2010 the company has already produced 1.2 million pounds. Capital costs of the company in 2010 expected to reach $ 151 million, including $ 90 million on development projects in Kazakhstan. The remaining $ 61 million will be spent on development projects in Australia and the United States. The loss of the company in 2009 is mainly due to lower prices of products, from $ 68 per pound (in 2008) to $ 48 per pound (in 2009). In connection with the start of production at South Inkai deposit with cash costs of $ 21 per pound, total cash costs to produce 1 pound of production rose in 2009 to $ 16, compared with $ 14 in 2008. The accounts of the company and analysts forecast the company ASYL INVEST evaluated positively and expect a positive impact on the dynamics of the value of the company. China has increased imports of copper by 10% in February. Yesterday we published data on exports and imports of China in February, which were significantly better than expectations. Customs Service under heaven reported that copper imports in February amounted to 322.3 thousand tons, up 10% more than in January, but 2% less than a year ago. Despite the assumption that imports in February may be weak due to long weekend devoted to celebrating in a new year in China, the volume of imports as a whole was at a high level. Chinese factor remains the main driver of growth in copper prices. Investors are not even afraid of the growth stocks of the metal to the maximum over the past few years' levels. The situation with the forward curve for copper on the London Metal Exchange also speaks of unsustainable growth, because observed bekvardatsiya. News in general is positive for copper and stock quotes Kazakhmys. KMG KMG: Loss of daily production from suspension of production activities OMG on March 10, according to preliminary estimates, reached 700 tons. Previously, daily losses during the protest action were estimated at 200-400 tons of oil per day. At yesterday's trading company has repurchased 92 771 preference share at a price of KZT21,180.06 per share. National Bank: Annual general meeting of shareholders of the People's Bank will be held April 23, 2010. In the agenda of the meeting - approval of annual financial statements of the bank for the year 2009, the approval of allocation of net income of the bank and the payment of dividends, consider increasing the number of declared shares of the bank and changes in bank charter. The central bank in February bought more than $ 1.7 billion in order to prevent too rapid strengthening tenge. Kazakhstan's economy: growth of GDP according to preliminary data, in January and February of this year compared to the same period last year amounted to 6-7%. 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. [2010-03-11]