Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for July 27, 2010

/IRBIS, July 27, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for July 27, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - CITIC canceled deal to buy shares of Macarthur. The deal to purchase shares of Macarthur (MCC AU) was withdrawn after the minority shareholders Macarthur refused the deal and the sale of its shares. CITIC offered about $ 99.28 million, Macarthur Coal was the subject of the battle on the absorption of this year, but the proposal of the Australian Government on the introduction of the new super tax, cancels the transaction. Following the publication of plans to introduce a compromise tax, Macarthur and similar companies mining sector of Australia, may again become targets of mergers and acquisitions. - REIT goes on to IPO. SM Prime Holdings Corp, the largest Philippine developer of shopping centers, announced the hiring CLSA and Macquarie, a financial adviser and book runner for the generated REIT, IPO which they estimate at $ 500 million of SM Prime will create a new company SM Prime REIT, in which it includes its current assets. The company expects the introduction of and changes in tax and legislative framework for the REIT, after which the assets of the parent company will be transferred to real estate fund. - Basel Committee softens requirements. The Basel Committee has softened some of the capital requirements and capital adequacy of banks' liquidity second level. The initial rough draft of regulatory changes in capital requirements and banks' liquidity was tighter format. On Monday 26 June, members of the committee have allowed to classify certain items of assets, including minority stake in other financial companies, as equity. Also, in test mode is expected to reduce the capital adequacy requirements of the first level to 3%. Thus, the demands of France and Germany to introduce "more benign" prudential norms with respect to the second-tier banks have been partially met. The temporary easing of some regulatory articles may indicate a still weak dynamics of recovery of the banking sector. As the recovery of banks may implement more stringent rules for regulation by the Basel Committee. In general, the supervision of the banking sector will be applied countercyclical scenario, which implies a tightening of regulatory requirements for the STB during the recovery and mitigation during a recession. 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 365 796 118.1% 490 34.24 Halyk bank 310 409 31.9% 394 51.25 Bank Center Credit 520 1,218 134.2% 896 37.38 ENRC 2,100 On review 2,761 49.57 Kazakhmys 2,780 On review 3,140 61.34 RD KMG 17,200 24,895 44.7% 24,546 44.76 Kazkhtelekom 14,900 33,842 127.1% 20,436 60.22 -------------------------------------------------------------------------- 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. [2010-07-27]