Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for April 28, 2010

/IRBIS, April 28, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for April 28, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - BHP Billiton (BHP AU) in the process of negotiations with the Australian Government, about the starting of construction of additional coal terminal in the port of Abbot Point. This terminal gives to the company additional export capacity, as existing power ports are not sufficient for the planned growth of coal mining. The existing capacity of the port Abbot Point is shipped to 25 million tons of coal a year, BHP intends to double the capacity of the port for two years, and to spend on upgrading about $1.85 billion Coal BHP Billiton in the first quarter of 2010 increased by 7% compared with the same period in 2009, and amounted to 8.727 million tones of coking coal. Australian companies involved in coal mining, such as BHP, Gloucester Coal (CGL AU) and Macarthur Coal (MCC AU), enshrined in its export contracts with Asian steelmaker almost 100% increase in the price of coal. So, for example, Japanese JFE Holding (5411 JP), the second largest steel company in the world, has agreed to pay for coal from BHP for $200/tonnu, which will put the company in the period from April 1 to June 30. This price reflects a 55% premium over the current price of $129/tonnu. IFD "RESMI" Analysts note that the largest steel company, agreed to pay for raw materials at a premium, which reflects to their vision that the world economy recovers. IFD "RESMI" also notes that the consumption of steel and other metals is steadily growing, and growing the sales of new cars. - KazAgro and KazAgroFinance give a USD500 million and KZT54.9 billion for projects in the agricultural sector. As part of its investment program for the agricultural sector, JSC KazAgroFinance "in 2010, plans to invest around KZT54.9 billion, including KZT35 billion - funds from the National Fund. These funds are provided to finance the purchase of agricultural and special machinery, processing equipment, as well as the realization of investment projects in the agricultural sector of Kazakhstan. To date, the program of investment in agriculture sector, "KazAgroFinance" has already received 70 applications totaling KZT86 billion. Of these approved 21 projects totaling KZT22.6 billion, and is being considered about 24 projects valued at KZT30.7 billion. In addition, NH "KazAgro" prior to July 01 will allocate KZT500 million on loans to small agricultural producers, who can not provide guarantees. It is expected that loans will be granted for up to two years, and the amount of the loan to one borrower will be up to KZT3 million. This program will be implemented for its own account of the holding. JSC KazAgroFinance is a member of the National Holding KazAgro and its main purpose is to support development of agrarian sector of Kazakhstan. 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 610 796 30.5% 665 41.73 Halyk bank 350 409 16.9% 407 36.67 Bank Center Credit 652 1,218 86.8% 1,070 24.89 ENRC 2,750 On review 2,937 59.20 Kazakhmys 3,240 On review 3,668 43.49 RD KMG 22,500 24,895 10.6% 24,884 59.27 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. [2010-04-28]