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:
Disclosure: I am long TRQ.