Print

TOP100 MONGOLIAN TAXPAYERS OF 2011: 1. EMC 2.TTL 3. MAK 4. APU 5. OT/IVN 6. ER/MMC 7. SGQ/1878 8.MOBICOM 9. BTEG/IRON MINING 10.

Please click here to download pdf report of TOP100 largest taxpayers of Mongolia in 2011 provided courtesy of Government of Mongolia to Frontier Securities.

Comments:

Erdenet Copper Mine (state owned) is still officially No. 1 but massive diversified MCS Group is represented separately by a multitude of its subsidiaries such as No. 6 Energy Resource(100% owned by MMC(HKG:975), No. 13 Energy Resource Mining, No 18 Spirt Bal Buram, etc and etc.

  • MSE- listed TT -  Tavantolgoi JSC(MSE: TTL), the largest market cap company on MSE, made it to No.2 reflecting continued robust profitability of the company
  • MAK(private) that recently concluded large deal with FDLSmith is No.3
  • Second largest market cap company on MSE, No.4 APU(MSE:APU) is one of the better companies in TOP20 MSE Index(recently had large block trade)
  • No.5 OT LLC(66% owned by Ivanhoe Mines( NYSE: IVN) reflects continuing pre-production development  at OT
  • Southgobi Sands which 100% owned by Southgobi(TSX:SGQ, HKG:1878) is No.7 on the more than doubled revenues
  • Largest mobile operator Mobicom(private, JV of Newcom, Sumitomo and KDD) is No.8, which is in line with chart of contribution of sectors to economic expansion of World Bank in October 2011
  • Largest iron ore exporter Bold Tumur Yeroo Gol (JV of Dornyn Gobi and Iron Mining International that long has been mulling HK IPO plans) is No.9 on record iron exports
  • Contract miner Leighton is No 10 reflecting robust growth in contract mining in the country