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BDSEC Mongolian Stock Exchange Profitability Report

|Includes: Turquoise Hill Resources Ltd. (TRQ)

BDSEC, which is the largest broker in Mongolia, issued as part of its recent weekly market a report information on MSE listed companies profitability. I found it quite interesting as the report shows how rapidly some of these companies are actually growing. For example, one of my current favorite Mongolian holdings is Remicon. This is a concrete producer which should benefit from construction and infrastructure build out in Ulaan Bataar. The company had 56% sales growth lat year and increased profits by 48%. It is selling at a current P/E of 5.4 and a price to book ratio of 1.3. This is the type of company one should be buying if they think Mongolia will continue to have good economic growth.

Link to report:

http://www.bdsec.mn/files/BDSec_Weekly_-_8th_week_2013.pdf

Disclosure: I am long TRQ.