Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for April 20, 2010

/IRBIS, April 20, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for April 20, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - "Russian Farms' plan to build a dairy complex in Kazakhstan worth $ 20 million group of companies" Russian Farms "is in talks with the government of Kazakhstan on the construction on the territory of the complex full-cycle production and processing of milk. It is planned to build a dairy farm on 1.5 thousand heads and a processing plant where it will be possible to produce baby food and cheeses. According to preliminary estimates, investments in the project are estimated at least $ 20 million Mr. A. Danilenko head of "Russian Farms said that his company could develop the project, and the Government of Kazakhstan - investment. He noted that "Russian Farms" already have extensive experience of such cooperation in Russia and added that in parallel dairy project in Kazakhstan can also develop beef cattle breeding. Mr. U. Shukeyev First Deputy of Prime Minister of the Republic expressed interest into the project and said that the Kazakh side will commission to work out details of cooperation. Group of companies "Russian Farms" is the second, after the company "Krasny Vostok-Agro, producer of milk in Russia with a turnover of over 2 billion rubles and with volume of production of 100 tons per day. Raw "Russian Farms" take to process the largest players in the market for dairy products in Russia: Wimm-Bill-Dann and Unimilk. Given the fact that Kazakhstan is currently facing a shortage of milk, because there are no complexes of full-cycle and a large part is made in the household population, the realization of this project will improve the performance of the dairy industry of the republic. The interest of the Government of Kazakhstan may be explained by the fact that this project will help reduce the dependence of domestic producers of dairy products from imported raw materials. - JSC Unimilk and GC Russian farms "have launched a joint investment project to create an agricultural holding on the basis of animal unit" Verbilovskoe "in the Lipetsk region, Russia. Ltd. Verbilovskoe - dairy company total capacity of 1.5 thousand cows, a non-core asset "Unimilk. According to the agreements, LLC Verbilovskoe will be transferred to the management of GC Russian farms. The project is based on the LLC Verbilovskoe "and owned by" Russian Farms "JSC" Belgorod Dairy farms are planned to create a major effective business in the area of dairy farming. It is expected that the average yield per cow per year is not less than 7 thousand kg. Creation of complex which planned with total capacity of 8 thousand milk cows will be located on an area of 60 thousand hectares. In this area, in addition to dairy farming, the complex will develop and crop production, growing crops for industrial production. Once the production capacity reached the maximum performance, "Russian Farms" are planning to buy agricultural holding. Synergy, producers and processors of milk, according to participants of the project, will increase the profitability of the enterprise, ensuring a stable operating cash flow, reduce the price of procured resources through economies of scope and, ultimately, to create on the basis of "Verbilovskogo" leading producer of milk with an experienced management and high efficiency. 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 625 796 27.4% 609 44.69 Halyk bank 365 409 12.1% 427 43.51 Bank Center Credit 710 1,218 71.5% 954 40.13 ENRC 2,700 On review 2,935 58.61 Kazakhmys 3,400 On review 3,666 51.31 RD KMG 22,300 24,895 11.6% 25,590 57.56 Kazkhtelekom 16,750 33,842 102.0% 18,344 40.85 -------------------------------------------------------------------------- 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%. - Cost of common shares Kazkommertsbank assessment IFD "RESMI" will cost no less than KZT796 per share by the end of 2010; - Halyk Savings Bank of Kazakhstan is estimated IFD "RESMI" as the most promising in terms of business development financial institution in Kazakhstan. Analysts see the growth of the bank's shares up to KZT409 per share; - Shares of Bank CenterCredit in the long term analysts IFD "RESMI" about the outlook for growth in securities of the bank to the level of 1,230 m.; - Stocks of Kazakhtelecom are looking most attractive for investment in the long term. Analysts IFD "RESMI" recommend buying simple shareholders of the issuer. - The updated target price of shares of JSC Exploration Production KMG is KZT24,895 per share. 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. [2010-04-20]