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

/IRBIS, September 28, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for September 28, 2010. Analysts of IFH RESMI are paying attention to investors on the following important events in the markets now: - Ukrainian companies for the production of dairy products will buy a Cyprus offshore organization. An offshore company "Brosmont Holdings Limited" (Nicosia, Cyprus), got permission of the Antimonopoly Committee of Ukraine for the acquisition of controlling stakes in two Ukrainian companies, CJSC "Galicia" and OJSC "Kovelmoloko, producing dairy products. Nowadays, companies are market leaders in dairy production in Ukraine. JSC "Galicia" - one of the largest Ukrainian companies for the production of dairy products, one of the three largest manufacturers of yogurt in Ukraine. "Galicia" graduated in 2009 with a net profit of 126 thousand hryvnia or U.S. $ 16 thousand, net income amounted to 450.188 million hryvnia or U.S. $ 57 million, which is 9.5%, or 39.027 million hryvnia or U.S. $ 5 million more than in 2008. Major brands: "Galicia", "My cow", "12 vitamins. Range of products: milk, sour cream, kefir, yogurt, butter dish, cheese, sour milk, butter, spreads. JSC Kovelmoloko "- was founded in 1996 on the basis of Kovel Combine milk products. The company harvests raw milk in the Volyn, Rivne, Ternopil, Khmelnytsky and Zhytomyr regions. Major brands: "COMO", "Dairy fatherland", "Gurmanika. 2009 "Kovelmoloko" ended with a net profit of 1.1 million hryvnia, net income decreased by 24.2% or 69.066 million hryvnia (U.S. $ 9 million) to 216.877 million hryvnia ($ 27 million) compared to 2008. The sum of the acquisition were not known, since the shares of the acquired company "Kovelmoloko" not traded since March 2010 and the company's shares Galichina not listingovany on the Ukrainian market. - Danone has released the first batch of yogurt at its Kazakh plant. The first batch of yogurt company Danone to label "made in Kazakhstan" is already on sale in the markets of Almaty and ready for shipment to neighboring countries (Uzbekistan and Kyrgyzstan). Kazakh plant "Danone" is located in the industrial and logistics complex "Lady." The enterprise has installed two production lines: the first - for drinking yoghurt, and second - the so-called Stretcher bond. Performance lines for about 30-40 tons of yogurt per day. Due to the high productive capacity of the plant is planned to conclude contracts with local dairy farms. So, initially, the company will take about 30 tons of milk a day, design capacity - up to 100 tons per day. Thus, the production company Danone will be strong competition to other manufacturers and sour milk products on the market of Kazakhstan. Firstly, it is expected that due to the location of the plant, output prices decline slightly. Secondly, the product will be fresher. Third, the project includes a map of the country's industrialization (the company operates a closed system of water treatment), and contributes to the development of one of the priority sectors of Kazakhstan's agriculture - animal husbandry. Thus, the company guarantees the support of the state. 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 412 796 93.2% 385 52.84 Halyk bank 310 409 31.9% 353 48.96 Bank Center Credit 540 1,218 125.6% 869 52.59 RD KMG 15,850 24,895 57.1% 23,294 44.13 Kazkhtelekom 15,100 33,842 124.1% 33,524 69.07 -------------------------------------------------------------------------- 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. [2010-09-28]