Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for June 2. 2010

/IRBIS, June 2, 2010/ - Finance & Investment House RESMI JSC (Almaty. IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for June 2, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - Australian tax on mining is not a threat. Newcrest Mining Ltd (NCM AU) reported that the proposed 40% tax on mining, which is going to enter Australian Government, will not affect the company's plans to develop a copper - gold deposits in Eastern Qadi, the development of this project is estimated at $1.6 billion - Caterpillar expands its activities - purchase of the manufacturer of locomotives. The largest manufacturer of heavy equipment manufacturer buys railway locomotives, thus expanding its railway business, moving from service to manufacturing. Caterpillar Inc (CAT US) buys Electro-Motive Diesel, who last year Generate $1.8 billion revenue over $820 million, the vendor is the private equity firms Berkshire Partners LLC and Greenbriar Equity Group LLC. EMD, which was sold to General Motors (GM US) in 2005, will become part of the division of Caterpillar Progress Rail Operations, and will compete in the arena of production locomotives from General Electric (GE US), another manufacturer of locomotives in the United States. Caterpillar, which is also the largest manufacturer of diesel engines and gas turbines, has spent the past 4 years about $2 billion for the railway sector. The price offered Caterpillar for EMD, was less than half of revenue last year. Analysts of IFD "RESMI" believe that the demand for the company and their services in this sector are still under pressure. All that is connected with the railways is now at its lowest level, and Caterpillar undertook this transaction very efficiently. The largest operator of railways in the United States - Union Pacific (UNP), reported an increase in income compared with the two past years. Pledges capex for this year will total $2.6 billion 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 465 796 71.2% 928 36.31 Halyk bank 305 409 34.1% 743 47.34 Bank Center Credit 564 1,218 116.0% 1,061 36.86 ENRC 2,200 On review 2,724 44.06 Kazakhmys 2,628 On review 3,343 45.39 RD KMG 18,100 24,895 37.5% 25,147 38.75 Kazkhtelekom 12,000 33,842 182.0% 18,344 22.26 -------------------------------------------------------------------------- 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. [2010-06-02]