Forecasts and recommendations of analysts of IFH RESMI (Kazakhstan) for December 15, 2010

/IRBIS, December 15, 2010/ - Finance & Investment House RESMI JSC (Almaty, IFH RESMI) provided IRBIS overview of major events and their investment ideas and projections for December 15, 2010. Analysts of IFH RESMI give attention to the following to the important events in the markets: - Kazakhstan invites Rio Tinto and Vale to develop a copper deposit. According to the Albert Rau, Vice - Minister of Industry and Trade, Kazakhstan will invite one of the world's mining giants, Rio Tinto (RIO AU), or Vale SA (VALE US), to develop a copper deposit in the Karaganda region, in Spassky District, an area of about 12 thous. km. Rio Tinto has signed an agreement with the Tau-Ken Samruk on joint development of the field in June 2010. - POSCO to build the largest solar power plant in the world. South Korea's POSCO in conjunction with Sustainable Energy Capital Partners (SECP), a developer of alternative energy projects in the U.S., will create a joint venture that will build a solar power plant with capacity of 300 MW in Nevada, to meet the needs of the 60000th town, Boulder City. POSCO is the company's plans to build and maintain alternative power plants with total capacity of 1 GW by 2020. - Economic Development Ministry has raised the forecast of GDP growth for 2010. According to Minister of Economic Development and Trade Mrs. Zh. Aitzhanova, GDP growth in Kazakhstan up to 2010 will amount to more than 6%. Earlier, the government forecast a GDP growth of 5%. According to forecasts IFD "RESMI", GDP growth this year is about 5.7%. However, given the significant rise in prices for oil and metals in the 4 th quarter of 2010, GDP growth could approach the level of 6%. In 2010, thanks to rich raw material sector, Kazakhstan has been able to increase exports of oil and industrial metals, to support the corporate sector in the crisis response while not having increased the national debt and does not squander the assets of the National Fund. An important support was provided by the rising price of oil and metals recovery in demand them, as well as timely devaluation of the tenge. Analysts of IFD "RESMI" suggest that GDP growth in 2011 will amount to about 5%. 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 439 796 81.2% n/a 52.79 Halyk bank 365 409 12.1% 474 56.82 Bank Center Credit 585 1,218 108.2% 1,007 49.34 RD KMG 17,720 24,895 40.5% 23,305 62.40 Kazkhtelekom 18,300 24,398 33.5% 27,611 79.28 -------------------------------------------------------------------------- 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. [2010-12-15]