Review of key events from analysts of ASYL INVEST (Kazakhstan) on April 9, 2010

/IRBIS, March 9, 2010/ - ASYL INVEST JSC (Almaty) provided IRBIS overview of major events and their investment ideas and projections on April 9, 2010. Analysts of ASYL INVEST distinguish the following important events in the markets: - Kazakhmys: Investing in EGRES-1. Yesterday the company issued a press release on the results of its investment commitments at the Ekibastuz GRES- 1 in 2009, the Company reported that fully reinvested in the reconstruction and modernization EGRES-1 profit from operating activities for the plant in 2009, which is before tax amounted to more than KZT12 billion. During the year, at the power station was completed maintenance units # 3,4,6,7 and overhaul unit # 5, including its technical re-equipment. All works were completed earlier than planned, which ensured the possibility of additional electricity in the 3 rd and 4th quarter of 2009. In December last year EGRES- 1 start of the main phase of reconstruction. Through the restoration of a malfunctioning unit # 8, which is scheduled to be operational before 2013, the actual power plant will increase from 2500 to 3000 MW. In general, the investment program of power from 2009 to 2015 amounts to more than KZT180 billion. It aims to restore power # 8, 2, 1 and bring power to the installed production capacity of 4000 MW. "We are pleased to inform the Akim area and our partners to wholly fulfilling investment obligations Kazakhmys Group in 2009. Power Investment Program funded by the reinvestment of operating profit, and therefore it was decided not to pay dividends to shareholders. We will continue to exert all efforts to timely implementation of our long-term investment program, and intend to make a significant contribution to ensuring energy security in Kazakhstan ", - said Nikolai Korobkovsko, Director of the Department of Energy Group. The news is neutral for the stock price dynamics Kazakhmys and analysts of ASYL INVEST do not expect its influence on the course of bidding. - Ivanhoe Mines: Construction work in Mongolia begins. Yesterday the company announced the launch of construction work on the copper-gold project in Mongolia's Oyu Tolgoi. As previously reported, the project is expected to start in 2013. This year the company plans to spend $ 758 million for design work. News largely neutral for the shares of the company and analysts ASYL INVEST does not expect its influence on the course of bidding. - Centerra Gold and Kentor Gold: The political situation is stabilized. In yesterday's trading, shares of Centerra Gold fell more than 5%, but at the opening of trading decline were more pronounced. Later, the company announced that the company Kumtor project as usual. Meanwhile, several analysts lowered their recommendation on the shares of the company to "hold" due to political risks. Kentor Gold Stocks still are not traded, but the company also rushed to issue a press release that the work on the project Andasch conducted without disruption, the situation is under control and all employees and company assets in order. The tense situation in the country, according to the ASYL INVEST have stabilized, but did not know the further attitude of the new government to foreign companies, because the main demand of the opposition due to the return of a number of large enterprises and facilities of the country under government control. Consequences of change of power for business gold mining companies are not yet known. - Moody's has put on review ratings of six Kazakh banks, for possible reduction. International rating agency Moody's will review ratings of six Kazakh banks - JSC "Development Bank of Kazakhstan", JSC "Mortgage organization" Kazakhstan Mortgage Company JSC, KazAgroFinance, AO "Agricultural Credit Corporation, Construction Savings Bank of Kazakhstan and DBK Leasing for a possible downgrade banks. According to the agency this action due to a change in Kazakhstan's sovereign rating to "negative" to "Stable", reducing the country's foreign bonds to one notch to the level of "Baa2, and uncertainty regarding the receipt of government support these public financial institutions. The news is not favorable for issuers, as bonds of these financial institutions are traded at relatively low levels of returns, however, analysts ASYL INVEST do not expect a significant reduction in the prices of bond issuers' data. The given material has exclusively information character and is not the offer or the recommendation to make any transactions with the stocks. Agency "Irbis" doesn't take responsibility for the opinions which are in given material. [2010-04-09]