Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for April 26, 2010

/IRBIS, April 26, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for April 26, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - Loan and deposit markets at the end of March 2010. On Friday, the National Bank of Kazakhstan has published data on credit and deposit markets of Kazakhstan as of March 31, 2010. According to these data, credit the economy at the end of March amounted to KZT7,601 billion, or 0.7% below the previous month. Deposits grew by 1.4% and amounted to KZT6,860 billion. Dynamics more clearly when comparing the data at the end of March 2010 and data on the same date last year. During the year loans fell by 6.7%, while deposits increased by 14.9%. The increase in deposits and lax lending, according to IFD "RESMI", provoked by a weak business activity and not by the desire to borrow at more stringent conditions than they were a year ago, including interest rates. IFD "RESMI" Analysts believe that this momentum will continue until the end of the first half of this year, followed by activation of credit. However, this process will be slow and only at the end of the year will significantly increase business activity and, hence, lending. 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 621 796 28.2% 609 43.95 Halyk bank 353 409 15.9% 427 38.15 Bank Center Credit 712 1,218 71.1% 954 41.46 ENRC 2,650 On review 2,935 53.50 Kazakhmys 3,200 On review 3,646 40.97 RD KMG 22,100 24,895 12.6% 25,119 54.04 Kazkhtelekom 16,450 33,842 105.7% 18,344 33.76 -------------------------------------------------------------------------- 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. [2010-04-26]