Kasachstan - ein Land mit Potenzial - 500 Beiträge pro Seite
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Zur Lektüre empfohlen:
Börseninfo Ausgabe 26 (pdf-Dokument, 429 kb, 25 Seiten)
http://www.new-sense.net/wirtschaft/sonstiges/boerseninfo26.…
Quelle: http://www.TAC2000.de
Grüßend,
M@trix
Börseninfo Ausgabe 26 (pdf-Dokument, 429 kb, 25 Seiten)
http://www.new-sense.net/wirtschaft/sonstiges/boerseninfo26.…
Quelle: http://www.TAC2000.de
Grüßend,
M@trix
Kasachstan weltweit zum drittgrößten Uranförderer aufgestiegen
Kasachstan ist 2004 zum drittgrößten Uranförderer in der Welt aufgestiegen. Auf die zentralasiatische Ex-Sowjetrepublik entfielen im vergangenen Jahr 9,4 Prozent der weltweiten Urangewinnung, teilte der Pressedienst des nationalen kasachischen Atomkonzerns Kasatomprom am Dienstag in Astana unter Bezug auf Angaben des angesehenen US-amerikanischen Fachmagazins "Ux Weekly" mit.
[...]
http://wirtschaft.russland.ru/mainmore.php?tpl=Rohstoffe&idi…
Kasachstan ist 2004 zum drittgrößten Uranförderer in der Welt aufgestiegen. Auf die zentralasiatische Ex-Sowjetrepublik entfielen im vergangenen Jahr 9,4 Prozent der weltweiten Urangewinnung, teilte der Pressedienst des nationalen kasachischen Atomkonzerns Kasatomprom am Dienstag in Astana unter Bezug auf Angaben des angesehenen US-amerikanischen Fachmagazins "Ux Weekly" mit.
[...]
http://wirtschaft.russland.ru/mainmore.php?tpl=Rohstoffe&idi…
Opportunities in a changed country
By: Rhona O`Connell
Posted: `09-SEP-05 15:00` GMT © Mineweb 1997-2004
LONDON (Mineweb.com) -- Kazakhstan is one of the largest former Soviet Union countries or vassal states, and shares borders of thousands of kilometres with Russia, to the north and northeast, and with China to the east. The ninth largest country in the world, it covers an area equivalent to the whole of Western Europe and, since its declaration of independence from the Soviet Union in 1991, it has been led by President Nursuktan Nazarbayev.
At the seminar on the country, presented by the Association of Mining Analysts in London on Thursday (September 8), we learned about the economic, legal and political background to this country, which has vast mineral potential, as well as hearing presentations from some of the western mining companies operating there – most of which, so far, are exploration or development plays rather than producers. This piece looks as the economic and legal aspects, while an accompanying piece reviews two of the companies at work there.
Kazakhstan’s economic growth rate is currently running at 9% per annum, albeit from a low base. And mining is one of the industries that the government is most keen to see develop, along with oil and gas, construction, transportation, metallurgy and tourism. Mineral resources are abundant. As well as the energy sector, there are large deposits of coal, iron ore, manganese, nickel, chromium, copper, cobalt, lead, zinc, bauxite, gold and uranium (the director of mining at Oriel Resources suggested that the country is host to between 15 and 20% of the world’s lead, zinc, chromium and gold resources). Since 1993 Kazakhstan’s natural resource sector has attracted approximately $20 billion in foreign investment Oil and gas products currently account for 50% of GDP.
The Head of Economic Affairs at the Kazakhstan Embassy in London, Chingiz Kanapyanov, reported that his government is keen to attract more inward investment. As part of its programme it has recently adopted the UK’s Extractive Industries Transparency Initiative and this is due to be signed by the government, MPs and 62 extractive companies by the end of this year. The EITI, in which the World Bank is actively involved, is designed to ensure that revenues from extractive industries contribute to sustainable development and poverty reduction. It gives guidance on financial transparency with respect to payments and revenues for all the stakeholders in the extractive industries, including the tax authorities, shareholders, contractual counterparties and international bodies.
The government’s development criteria include increasing liberalisation and competitiveness, the reduction of red tape, improved openness within the economy as well as programmes for rural development. It is keen to develop private operations in all sectors as well as reducing government expenditure. Conditions would still appear to be pretty cumbersome, however.
The legal structures and regulations governing the mining industry were outlined by Aset Shyngyssov, a lawyer with considerable experience in the sector. In August 1999 the licensing régime was abandoned and any mining operations that have been set up since then have been on a contractual basis (previously existing licences remain in place). The Competent Body with which all agreements have to be signed is currently the Ministry of Energy and Mineral Resources. Rights are usually granted by tender; these can be either open or closed, at the government’s discretion. They can, in some instances, be directly negotiated, but there are only a few bodies that are qualified for such negotiations -- an example would be a contractor who has made a discovery during the course of exploration.
Mining contracts are essentially concessions based in a royalty system. They take three forms: exploration, production, or combination of the two. Exploration contracts can last for up to six years, while production contracts may be for up to 25 years, or 45 years in the case of very large deposits. All may be extended with the permission of the Competent Body.
Payments: any company must pay the government a bonus on any discovery, valued at 0.1% of the estimated value of the reserves. Royalties are from 2% to 6% on the value of the minerals and are non-negotiable. Each deposit must be accounted for separately. There is also an excess profits tax payable where appropriate.
Breach of agreements can cause rights to be imperilled; typically there will be a period of suspension first and, if the position is not rectified, then the contract is likely to be terminated.
One recent development that has caused concern among investors is the State Priority Act, which was passed in December 2004. This gives the government priority rights to buy any natural resources asset that is for sale on its territory, in order “to ensure greater control over investment”. (This may be behind reports that Canadian company PetroKazakhstan is pulling out of the country, although it is reported that the government has also been seeking back taxes from the company and earlier this year charged two executives with breaking competition laws). This is so far untested and it is not yet clear exactly how the procedure will work, or quite what the scope will be, while another grey area is the scope of the government’s State Commission that has recently been set up for the granting of mining rights.
Mining rights may be assigned, but this is subject to the consent of the central bank. If the bank believes that the new operator might not be able to deliver, consent may be withheld. It must not be withheld, however, if the parent company of the new operator puts up a guarantee of performance.
As part of its intention to develop local industry the government has specified that companies operating in Kazakhstan must hire and train local people and source supplies locally wherever possible.
The law also allows for requisition and nationalisation, provided adequate compensation is paid.
While these features might well mean that an analyst would want to apply a high discount rate when valuing a company operating in Kazakhstan, other positive points include the fact that foreign and local investors are treated equally. Companies that presented at the seminar who are operating in the country are content with their treatment and believe that bureaucracy is not too cumbersome and that Kazakhstan is a land of opportunity.
But to plagiarise Mandy Rice-Davies famous response to judge Burge at Stephen Ward’s 1963 trial in the Old Bailey ……
http://www.mineweb.net/sections/whats_new/483533.htm
By: Rhona O`Connell
Posted: `09-SEP-05 15:00` GMT © Mineweb 1997-2004
LONDON (Mineweb.com) -- Kazakhstan is one of the largest former Soviet Union countries or vassal states, and shares borders of thousands of kilometres with Russia, to the north and northeast, and with China to the east. The ninth largest country in the world, it covers an area equivalent to the whole of Western Europe and, since its declaration of independence from the Soviet Union in 1991, it has been led by President Nursuktan Nazarbayev.
At the seminar on the country, presented by the Association of Mining Analysts in London on Thursday (September 8), we learned about the economic, legal and political background to this country, which has vast mineral potential, as well as hearing presentations from some of the western mining companies operating there – most of which, so far, are exploration or development plays rather than producers. This piece looks as the economic and legal aspects, while an accompanying piece reviews two of the companies at work there.
Kazakhstan’s economic growth rate is currently running at 9% per annum, albeit from a low base. And mining is one of the industries that the government is most keen to see develop, along with oil and gas, construction, transportation, metallurgy and tourism. Mineral resources are abundant. As well as the energy sector, there are large deposits of coal, iron ore, manganese, nickel, chromium, copper, cobalt, lead, zinc, bauxite, gold and uranium (the director of mining at Oriel Resources suggested that the country is host to between 15 and 20% of the world’s lead, zinc, chromium and gold resources). Since 1993 Kazakhstan’s natural resource sector has attracted approximately $20 billion in foreign investment Oil and gas products currently account for 50% of GDP.
The Head of Economic Affairs at the Kazakhstan Embassy in London, Chingiz Kanapyanov, reported that his government is keen to attract more inward investment. As part of its programme it has recently adopted the UK’s Extractive Industries Transparency Initiative and this is due to be signed by the government, MPs and 62 extractive companies by the end of this year. The EITI, in which the World Bank is actively involved, is designed to ensure that revenues from extractive industries contribute to sustainable development and poverty reduction. It gives guidance on financial transparency with respect to payments and revenues for all the stakeholders in the extractive industries, including the tax authorities, shareholders, contractual counterparties and international bodies.
The government’s development criteria include increasing liberalisation and competitiveness, the reduction of red tape, improved openness within the economy as well as programmes for rural development. It is keen to develop private operations in all sectors as well as reducing government expenditure. Conditions would still appear to be pretty cumbersome, however.
The legal structures and regulations governing the mining industry were outlined by Aset Shyngyssov, a lawyer with considerable experience in the sector. In August 1999 the licensing régime was abandoned and any mining operations that have been set up since then have been on a contractual basis (previously existing licences remain in place). The Competent Body with which all agreements have to be signed is currently the Ministry of Energy and Mineral Resources. Rights are usually granted by tender; these can be either open or closed, at the government’s discretion. They can, in some instances, be directly negotiated, but there are only a few bodies that are qualified for such negotiations -- an example would be a contractor who has made a discovery during the course of exploration.
Mining contracts are essentially concessions based in a royalty system. They take three forms: exploration, production, or combination of the two. Exploration contracts can last for up to six years, while production contracts may be for up to 25 years, or 45 years in the case of very large deposits. All may be extended with the permission of the Competent Body.
Payments: any company must pay the government a bonus on any discovery, valued at 0.1% of the estimated value of the reserves. Royalties are from 2% to 6% on the value of the minerals and are non-negotiable. Each deposit must be accounted for separately. There is also an excess profits tax payable where appropriate.
Breach of agreements can cause rights to be imperilled; typically there will be a period of suspension first and, if the position is not rectified, then the contract is likely to be terminated.
One recent development that has caused concern among investors is the State Priority Act, which was passed in December 2004. This gives the government priority rights to buy any natural resources asset that is for sale on its territory, in order “to ensure greater control over investment”. (This may be behind reports that Canadian company PetroKazakhstan is pulling out of the country, although it is reported that the government has also been seeking back taxes from the company and earlier this year charged two executives with breaking competition laws). This is so far untested and it is not yet clear exactly how the procedure will work, or quite what the scope will be, while another grey area is the scope of the government’s State Commission that has recently been set up for the granting of mining rights.
Mining rights may be assigned, but this is subject to the consent of the central bank. If the bank believes that the new operator might not be able to deliver, consent may be withheld. It must not be withheld, however, if the parent company of the new operator puts up a guarantee of performance.
As part of its intention to develop local industry the government has specified that companies operating in Kazakhstan must hire and train local people and source supplies locally wherever possible.
The law also allows for requisition and nationalisation, provided adequate compensation is paid.
While these features might well mean that an analyst would want to apply a high discount rate when valuing a company operating in Kazakhstan, other positive points include the fact that foreign and local investors are treated equally. Companies that presented at the seminar who are operating in the country are content with their treatment and believe that bureaucracy is not too cumbersome and that Kazakhstan is a land of opportunity.
But to plagiarise Mandy Rice-Davies famous response to judge Burge at Stephen Ward’s 1963 trial in the Old Bailey ……
http://www.mineweb.net/sections/whats_new/483533.htm
Erdöl: Kasachstan wirbt um US-Investitionen
EM – Kasachstan will den Umfang seiner Erdöl- und Gasförderung bis zum Jahr 2015 mehr als verdoppeln. Dies sagte der kasachische Energieminister Wladimir Schkolnik Anfang September auf einer Investorenkonferenz in San Diego, Kalifornien. Nach Angaben des Ministers sollen noch im Jahr 2005 die Fördermengen auf folgende Werte angehoben werden: 1,3 Millionen Barrel Öl pro Tag und 28,7 Milliarden Kubikmeter Erdgas pro Jahr. Im Jahr 2015 sollen in dem zentralasiatischen Staat dann 3 Millionen Barrel Öl pro Tag und 79,4 Milliarden Kubikmeter Erdgas pro Jahr gefördert werden.
Um die kasachischen Produktionskapazitäten in diesem Maße anheben und die Infrastruktur für den Öl- und Gastransport ausbauen zu können, warb Schkolnik in den USA um verstärkte Auslandsinvestitionen. „Wir müssen unsere Kapazitäten weiter verbessern, um mehr Öl vom Kaspischen Meer auf den Weltmarkt zu bringen. Deshalb benötigen wir mehr ausländische Investitionen in diese Infrastruktur.“
Für seine Ölexporte ist Kasachstan noch immer weitgehend vom russischen Leitungssystem abhängig und sucht daher nach alternativen Exportrouten. Die Regierung in Astana schloß kürzlich ein Abkommen mit Aserbaidschan ab. Es wurde vereinbart, daß das kasachische Erdöl über die Ende Mai eingeweihte BTC Pipeline zum türkischen Mittelmeerhafen Ceyhan geleitet wird. Eine weitere Erdölleitung vom kasachischen Aktau am Kaspischen Meer führt ins chinesische Alaschanko (Provinz Xinjang) und soll im Dezember in Betrieb gehen. Beide Exportleitungen umgehen russisches Territorium, weshalb ihnen von den USA und China große strategische Bedeutung beigemessen wird.
http://www.eurasischesmagazin.de/artikel/?artikelID=20050903
EM – Kasachstan will den Umfang seiner Erdöl- und Gasförderung bis zum Jahr 2015 mehr als verdoppeln. Dies sagte der kasachische Energieminister Wladimir Schkolnik Anfang September auf einer Investorenkonferenz in San Diego, Kalifornien. Nach Angaben des Ministers sollen noch im Jahr 2005 die Fördermengen auf folgende Werte angehoben werden: 1,3 Millionen Barrel Öl pro Tag und 28,7 Milliarden Kubikmeter Erdgas pro Jahr. Im Jahr 2015 sollen in dem zentralasiatischen Staat dann 3 Millionen Barrel Öl pro Tag und 79,4 Milliarden Kubikmeter Erdgas pro Jahr gefördert werden.
Um die kasachischen Produktionskapazitäten in diesem Maße anheben und die Infrastruktur für den Öl- und Gastransport ausbauen zu können, warb Schkolnik in den USA um verstärkte Auslandsinvestitionen. „Wir müssen unsere Kapazitäten weiter verbessern, um mehr Öl vom Kaspischen Meer auf den Weltmarkt zu bringen. Deshalb benötigen wir mehr ausländische Investitionen in diese Infrastruktur.“
Für seine Ölexporte ist Kasachstan noch immer weitgehend vom russischen Leitungssystem abhängig und sucht daher nach alternativen Exportrouten. Die Regierung in Astana schloß kürzlich ein Abkommen mit Aserbaidschan ab. Es wurde vereinbart, daß das kasachische Erdöl über die Ende Mai eingeweihte BTC Pipeline zum türkischen Mittelmeerhafen Ceyhan geleitet wird. Eine weitere Erdölleitung vom kasachischen Aktau am Kaspischen Meer führt ins chinesische Alaschanko (Provinz Xinjang) und soll im Dezember in Betrieb gehen. Beide Exportleitungen umgehen russisches Territorium, weshalb ihnen von den USA und China große strategische Bedeutung beigemessen wird.
http://www.eurasischesmagazin.de/artikel/?artikelID=20050903
hallo,
An der Lononder Börse sollte dieser Tage das erste Volllisting einer kasachischen Company passieren.
Weiß jemand Bescheid, und was haltet ihr davon??
Kasachstans Kupferkonzern geht an die Londoner Börse
Erstes volles Listing einer GUS-Firma
pfi. Moskau, 28. September
Kasachstans wichtigstes Nicht-Erdölunternehmen, das gleichzeitig der Welt zehntgrösster Kupferproduzent ist, will als erste aus der Gemeinschaft Unabhängiger Staaten (GUS) stammende Firma ein volles Listing an der Londoner Börse erwirken. Gleichzeitig sollen Investoren rund 25% der Aktien in einem IPO angeboten werden. Der Kupferkonzern Kazakhmys produzierte 2004 laut Firmenangaben 428 000 t Kupfer; gut dreimal mehr als 1995. Er wird laut Angebotsprospekt derzeit zu 96,5% von drei führenden Managern kontrolliert und erzielte 2004 nach internationalen Buchhaltungsstandards Einnahmen von 1,3 Mrd. $ und einen Reingewinn von 441 Mio. $. Die Eigner bieten nun in einem IPO institutionellen Investoren 64 Mio. alte und 58,4 Mio. neue Aktien zu einem Preis zwischen £ 4.6 und £ 5.45 pro Titel an. Die Zeichnungsfrist läuft voraussichtlich bis zum 6. Oktober, der Preis soll am 7. Oktober bestimmt werden, und die Aktien sollen ab dem 12. Oktober an der Londoner Börse gehandelt werden können. Bei Überzeichnung behalten sich die bisherigen Eigner die Erhöhung des Angebots um weitere 15% vor (Greenshoe).
Gesicherte Vorräte
Die Preisspanne für den Börsengang von gut 25% des Aktienkapitals impliziert einen Bruttoerlös von umgerechnet 996 Mio. $ bis 1,2 Mrd. $ und eine Marktkapitalisierung des Konzerns von 3,9 Mrd. $ bis 4,7 Mrd. $. Damit dürfte der Abschlag im Vergleich zu der Bewertung der grossen internationalen Konkurrenten nur noch gering ausfallen.
Kazakhmys kann allerdings auch auf eine Erfolgsgeschichte und strategische Plus verweisen. Die Firma, welche nach dem Zusammenbruch der Sowjetunion 1995 praktisch vor dem Bankrott stand, wurde auf Initiative des kasachischen Staatspräsidenten mit Hilfe des südkoreanischen Samsung-Konzerns nach allen Regeln der kapitalistischen Unternehmungsführung grundlegend modernisiert und auf Vordermann gebracht (vgl. NZZ vom 23. 5. 02). Der Konzern verfügt nun über relativ kostengünstig zu erschliessende Kupfervorräte, welche die Produktion (im Jahr 2004 zu Kosten von 665 $ pro t) für nachgewiesenermassen mindestens 20 Jahre und voraussichtlich weitere 30 Jahre sichern. Kazakhmys kontrolliert nicht nur die Produktion von Kupferkonzentrat, sondern auch dessen Weiterverarbeitung, Verkauf und die zum Konzernbetrieb notwendige Stromproduktion. Zudem ist Kasachstan ein Nachbarstaat des rohstoffhungrigen China, an das die Kazakhmys-Werke 2004 85% ihrer Produktion mit geringen Transportkosten verkaufen konnten.
An der Lononder Börse sollte dieser Tage das erste Volllisting einer kasachischen Company passieren.
Weiß jemand Bescheid, und was haltet ihr davon??
Kasachstans Kupferkonzern geht an die Londoner Börse
Erstes volles Listing einer GUS-Firma
pfi. Moskau, 28. September
Kasachstans wichtigstes Nicht-Erdölunternehmen, das gleichzeitig der Welt zehntgrösster Kupferproduzent ist, will als erste aus der Gemeinschaft Unabhängiger Staaten (GUS) stammende Firma ein volles Listing an der Londoner Börse erwirken. Gleichzeitig sollen Investoren rund 25% der Aktien in einem IPO angeboten werden. Der Kupferkonzern Kazakhmys produzierte 2004 laut Firmenangaben 428 000 t Kupfer; gut dreimal mehr als 1995. Er wird laut Angebotsprospekt derzeit zu 96,5% von drei führenden Managern kontrolliert und erzielte 2004 nach internationalen Buchhaltungsstandards Einnahmen von 1,3 Mrd. $ und einen Reingewinn von 441 Mio. $. Die Eigner bieten nun in einem IPO institutionellen Investoren 64 Mio. alte und 58,4 Mio. neue Aktien zu einem Preis zwischen £ 4.6 und £ 5.45 pro Titel an. Die Zeichnungsfrist läuft voraussichtlich bis zum 6. Oktober, der Preis soll am 7. Oktober bestimmt werden, und die Aktien sollen ab dem 12. Oktober an der Londoner Börse gehandelt werden können. Bei Überzeichnung behalten sich die bisherigen Eigner die Erhöhung des Angebots um weitere 15% vor (Greenshoe).
Gesicherte Vorräte
Die Preisspanne für den Börsengang von gut 25% des Aktienkapitals impliziert einen Bruttoerlös von umgerechnet 996 Mio. $ bis 1,2 Mrd. $ und eine Marktkapitalisierung des Konzerns von 3,9 Mrd. $ bis 4,7 Mrd. $. Damit dürfte der Abschlag im Vergleich zu der Bewertung der grossen internationalen Konkurrenten nur noch gering ausfallen.
Kazakhmys kann allerdings auch auf eine Erfolgsgeschichte und strategische Plus verweisen. Die Firma, welche nach dem Zusammenbruch der Sowjetunion 1995 praktisch vor dem Bankrott stand, wurde auf Initiative des kasachischen Staatspräsidenten mit Hilfe des südkoreanischen Samsung-Konzerns nach allen Regeln der kapitalistischen Unternehmungsführung grundlegend modernisiert und auf Vordermann gebracht (vgl. NZZ vom 23. 5. 02). Der Konzern verfügt nun über relativ kostengünstig zu erschliessende Kupfervorräte, welche die Produktion (im Jahr 2004 zu Kosten von 665 $ pro t) für nachgewiesenermassen mindestens 20 Jahre und voraussichtlich weitere 30 Jahre sichern. Kazakhmys kontrolliert nicht nur die Produktion von Kupferkonzentrat, sondern auch dessen Weiterverarbeitung, Verkauf und die zum Konzernbetrieb notwendige Stromproduktion. Zudem ist Kasachstan ein Nachbarstaat des rohstoffhungrigen China, an das die Kazakhmys-Werke 2004 85% ihrer Produktion mit geringen Transportkosten verkaufen konnten.
Trading Spotlight
hallo,
es kommt noch besser
das größte öl u. gasunternehmen Kazakhstans "KazMunaiGas" soll bald an der Londoner Börse notiert werden.
Quelle:aton
es kommt noch besser
das größte öl u. gasunternehmen Kazakhstans "KazMunaiGas" soll bald an der Londoner Börse notiert werden.
Quelle:aton
runn64
Die Frage ist nur, wie ist der Preis??
Wie schaut die Bewertung aus??
Hast Du Zahlen??
Die Frage ist nur, wie ist der Preis??
Wie schaut die Bewertung aus??
Hast Du Zahlen??
Special Report on Kazakhstan
Richard Reinhard
rreinhard@shaw.ca
Dec 15, 2005
Many subscribers have asked me about Kazakhstan lately, probably because three of my mining portfolio stocks have their main assets there. They`re curious - and cautious - about the political and investment risks in the country. It`s an interesting question, as the money being raised for Kazakh projects is huge right now - I can think of three mining companies alone in the last three months that have raised over US$2 billion in the UK and Canada.
So my question is - if big institutional money is willing to put so much capital into that region, why do North American retail investors shy away from it? It was clearly time for me to write a more in-depth report on this fast-growing country that is so strategic to all three major world powers - Russia, China and the United States. Hopefully this will answer some of your questions about Kazakhstan, a very rich and not so different place on the far side of our planet. Please find below my special report on Kazakhstan.
Kazakhstan - Attractive for Investment and Resource Development
Investment Climate
The Republic of Kazakhstan is a stable democratic country and is considered a "model transition economy" after gaining its independence from the Soviet centralized command system in December 1991 to become a free market economy. It`s a leader on such indicators as political stability, currency stability, investment climate, integration with the world economy, development of securities market legislation and price stability. Kazakhstan is the second largest (after Russia) of the former Soviet Republics, and is located in both Europe and Asia, as evidenced by its excellent relations with diverse interests that include Russia, China, Europe, Canada and the U.S.
The country is headed by highly-popular Nursultan Nazarbayev, its first president after gaining independence, re-elected in 1999 and again last week for a further 7-year term. Under Nazarbayev`s presidency, Kazakhstan made substantial progress towards developing a free market economy. The country has a friendly foreign investment climate and is a member of the United Nations, the World Customs Organization the Organization for Security and Cooperation in Europe. Kazakhstan is also an observer at the World Trade Organization and an active participant in the North Atlantic Treaty Organization`s (NATO) Partnership for Peace program. Nazarbayev has clearly determined and is successfully executing Kazakhstan`s main diplomatic strategy - creating and maintaining favourable conditions for the steady development of the country on the basis of political and economic reforms.
The laws of Kazakhstan establish a single investment regime for both domestic and foreign investors. The country guarantees stability of contracts where investors enter into contracts with Kazakh State agencies, with the exception of a change of law intended for national or ecological security, public health or morality, or if it affects the procedure or conditions of import, production and/or sales of excisable goods. In 1994 the Law "Of Foreign Investments" was introduced to attract foreign capital into the country`s economy. In 1997 the Law "Of State Support of Direct Investments" was introduced to attract foreign investment into less attractive sectors of the economy. Continuing the evolution, by 2001 it was determined that there was a further need for amendments to existing laws, resulting in the new draft of the Investment Law which was passed in early 2003. This new law further improves state support for investors and their legal rights.
For five years in a row the country has experienced a significant growth in its GDP: 2000 - 9.8%, 2001 - 13.5%, 2002 - 9.8%, 2003 - 9.3%, 2004 - 9.4%. Economic progress during the first decade of Kazakhstan`s independence was made possible as a result of large-scale political and economic reforms and a healthy investment climate. The first CIS country to reach investment grade status, 2002 saw Kazakhstan`s bond rating upgraded by Moody`s to Baa3, similar to Saudi Arabia, Bahrain and Mexico. By late 2004 a further Moody`s upgrade was achieved to Ba1/NP (Positive), followed in May 2004 with a Standard & Poor`s upgrading of its long-term local and foreign currency ratings to BBB/BBB- and a short-term foreign currency rating to A-3 (Stable).
Kazakhstan is well-placed for a period of solid economic growth, based on foreign direct investment in the energy sector, increased pipeline export capacity, combined with tight fiscal and monetary policy and strong banking system regulation and supervision. The Kazakhstan Government is continually taking steps to improve the domestic investment climate. Over-riding principles include stability and predictability; legal transparency; protection of investors; a level playing field for foreign and local investors; sanctity of contracts. Kazakhstan wants to encourage direct investment into the priority sectors of the economy and initiates full consultations and exchange of views with foreign investors, often within the framework of their Foreign Investors` Council (FIC) set up in June 1998. Investors carrying out projects in the priority sectors enjoy special privileges in taxation and customs tariffs.
With a strong and renewed 7-year mandate following last week`s election, the government is focused on issues to further improve the economy, seeking to further improve the investment climate and business environment in the country. Priority is to ensure effective and level implementation of economic market legislation and investment laws at the local grass-roots level, diversification and modernization, stimulating the growth of the value-added and high-tech components of the economy, and to ensure that economic growth becomes sustainable and non-oil dependent. Over the next 10 years oil output is set to rise to around 3.5 million bpd from just over 1 million bpd, higher than current production levels in Norway and only slightly below output in Iran and Mexico. Natural gas production is also set to rise sharply. Against this background the current account is likely to record rising surpluses from 2008 onwards, the assets of the National Fund should continue to mount and the government`s net creditor position should strengthen further.
Vast Resources
Kazakhstan is geographically varied, comprising extensive grassland, semi desert and mountainous regions. It is bordered by Russia, China, Kyrgyzstan, Uzbekistan, Turkmenistan and the Caspian Sea. The population of some 14 million is highly literate and well educated. The country has good infrastructure with a well developed national grid and network of all-year roads, railways and airports.
Kazakhstan possesses significant fossil fuel reserves, along with mineral and metal deposits. Its burgeoning industrial sector is based on the extraction and processing of these natural resources. Since gaining its independence in 1991 after the break up of the Soviet Union, Kazakhstan has experienced rapid economic growth, mostly attributed to its natural resources. According to the EBRD, Kazakhstan`s GDP grew by 9.4% in 2004 and is projected to grow by over 7.0% in 2005. The economic expansion is due to increased production of oil, minerals and other commodities, supported by high oil prices and rising foreign investments.
Kazakhstan`s substantial mineral resources include the world`s largest chromium, vanadium, bismuth and fluorine reserves. The country is a major producer of iron, coal, uranium, copper, lead, zinc, tungsten, molybdenum, borates, phosphorite, potassium and cadmium. It also ranks third amongst CIS countries in terms of gold reserves. Almost all gold mining companies and properties have been fully privatized in Kazakhstan, the only country within the former Soviet Union to have done so. This allows gold doré and gold-copper concentrates to be freely exported and sold.
Coal reserves in Kazakhstan are approximately 160Bt from 155 deposits in 10 major coalfields principally comprising energy and coking coal. The country also possesses enormous iron ore resources, containing 50-60% iron. Kazakhstan contains world class phosphorite deposits in terms of thickness and quality. It is the eighth largest copper producing country in the world and is a major producer of alumina (1.55 Mtpa). Kazakhstan occupies a large proportion of the Caspian oil province, where reserves are estimated to contain 20 billion barrels of oil and 700,000,000t of gas condensate, attracting more than US$15 billion in foreign direct investment over the last decade.
Conclusion
Seeking to take advantage of the secular bull market in resource and materials, investors seeking higher returns increasingly look to the countries of the former Soviet Union. Kazakhstan - the first among these countries to receive the investment grade, is currently among top 10 world`s fastest-growing economies (according to The Economist Intelligence Unit) with US$8.4 billion of direct foreign investment in 2004 (82.8 % growth compared to 2003) and real GDP growth of 9.4% in 2004.
Abundance of natural resources, many untapped resource-rich areas, economic and political stability, investor-friendly climate - all attributes that are proving popular with foreign investors, especially those in the extraction-based industries. However, to reduce the country`s dependence on the energy sector through diversification and modernization of the economy, the government of Kazakhstan is keen to attract much needed investment into such sectors as agriculture, food and beverage, transport, communications, financial sector, tourism as well as to encourage the development of SMEs and boost manufacturing. Various incentives are planned for investors ready to develop these markets. With the traditional extraction-based sectors still offering plenty of opportunities and new prospects emerging thanks to the government`s Strategy for Industrial and Innovative Development, Kazakhstan presents tremendous opportunities.
Click here for quick economic statistics on Kazakhstan:
http://www.cia.gov/cia/publications/factbook/geos/kz.html
http://www.321gold.com/editorials/reinhard/reinhard121505.ht…
Richard Reinhard
rreinhard@shaw.ca
Dec 15, 2005
Many subscribers have asked me about Kazakhstan lately, probably because three of my mining portfolio stocks have their main assets there. They`re curious - and cautious - about the political and investment risks in the country. It`s an interesting question, as the money being raised for Kazakh projects is huge right now - I can think of three mining companies alone in the last three months that have raised over US$2 billion in the UK and Canada.
So my question is - if big institutional money is willing to put so much capital into that region, why do North American retail investors shy away from it? It was clearly time for me to write a more in-depth report on this fast-growing country that is so strategic to all three major world powers - Russia, China and the United States. Hopefully this will answer some of your questions about Kazakhstan, a very rich and not so different place on the far side of our planet. Please find below my special report on Kazakhstan.
Kazakhstan - Attractive for Investment and Resource Development
Investment Climate
The Republic of Kazakhstan is a stable democratic country and is considered a "model transition economy" after gaining its independence from the Soviet centralized command system in December 1991 to become a free market economy. It`s a leader on such indicators as political stability, currency stability, investment climate, integration with the world economy, development of securities market legislation and price stability. Kazakhstan is the second largest (after Russia) of the former Soviet Republics, and is located in both Europe and Asia, as evidenced by its excellent relations with diverse interests that include Russia, China, Europe, Canada and the U.S.
The country is headed by highly-popular Nursultan Nazarbayev, its first president after gaining independence, re-elected in 1999 and again last week for a further 7-year term. Under Nazarbayev`s presidency, Kazakhstan made substantial progress towards developing a free market economy. The country has a friendly foreign investment climate and is a member of the United Nations, the World Customs Organization the Organization for Security and Cooperation in Europe. Kazakhstan is also an observer at the World Trade Organization and an active participant in the North Atlantic Treaty Organization`s (NATO) Partnership for Peace program. Nazarbayev has clearly determined and is successfully executing Kazakhstan`s main diplomatic strategy - creating and maintaining favourable conditions for the steady development of the country on the basis of political and economic reforms.
The laws of Kazakhstan establish a single investment regime for both domestic and foreign investors. The country guarantees stability of contracts where investors enter into contracts with Kazakh State agencies, with the exception of a change of law intended for national or ecological security, public health or morality, or if it affects the procedure or conditions of import, production and/or sales of excisable goods. In 1994 the Law "Of Foreign Investments" was introduced to attract foreign capital into the country`s economy. In 1997 the Law "Of State Support of Direct Investments" was introduced to attract foreign investment into less attractive sectors of the economy. Continuing the evolution, by 2001 it was determined that there was a further need for amendments to existing laws, resulting in the new draft of the Investment Law which was passed in early 2003. This new law further improves state support for investors and their legal rights.
For five years in a row the country has experienced a significant growth in its GDP: 2000 - 9.8%, 2001 - 13.5%, 2002 - 9.8%, 2003 - 9.3%, 2004 - 9.4%. Economic progress during the first decade of Kazakhstan`s independence was made possible as a result of large-scale political and economic reforms and a healthy investment climate. The first CIS country to reach investment grade status, 2002 saw Kazakhstan`s bond rating upgraded by Moody`s to Baa3, similar to Saudi Arabia, Bahrain and Mexico. By late 2004 a further Moody`s upgrade was achieved to Ba1/NP (Positive), followed in May 2004 with a Standard & Poor`s upgrading of its long-term local and foreign currency ratings to BBB/BBB- and a short-term foreign currency rating to A-3 (Stable).
Kazakhstan is well-placed for a period of solid economic growth, based on foreign direct investment in the energy sector, increased pipeline export capacity, combined with tight fiscal and monetary policy and strong banking system regulation and supervision. The Kazakhstan Government is continually taking steps to improve the domestic investment climate. Over-riding principles include stability and predictability; legal transparency; protection of investors; a level playing field for foreign and local investors; sanctity of contracts. Kazakhstan wants to encourage direct investment into the priority sectors of the economy and initiates full consultations and exchange of views with foreign investors, often within the framework of their Foreign Investors` Council (FIC) set up in June 1998. Investors carrying out projects in the priority sectors enjoy special privileges in taxation and customs tariffs.
With a strong and renewed 7-year mandate following last week`s election, the government is focused on issues to further improve the economy, seeking to further improve the investment climate and business environment in the country. Priority is to ensure effective and level implementation of economic market legislation and investment laws at the local grass-roots level, diversification and modernization, stimulating the growth of the value-added and high-tech components of the economy, and to ensure that economic growth becomes sustainable and non-oil dependent. Over the next 10 years oil output is set to rise to around 3.5 million bpd from just over 1 million bpd, higher than current production levels in Norway and only slightly below output in Iran and Mexico. Natural gas production is also set to rise sharply. Against this background the current account is likely to record rising surpluses from 2008 onwards, the assets of the National Fund should continue to mount and the government`s net creditor position should strengthen further.
Vast Resources
Kazakhstan is geographically varied, comprising extensive grassland, semi desert and mountainous regions. It is bordered by Russia, China, Kyrgyzstan, Uzbekistan, Turkmenistan and the Caspian Sea. The population of some 14 million is highly literate and well educated. The country has good infrastructure with a well developed national grid and network of all-year roads, railways and airports.
Kazakhstan possesses significant fossil fuel reserves, along with mineral and metal deposits. Its burgeoning industrial sector is based on the extraction and processing of these natural resources. Since gaining its independence in 1991 after the break up of the Soviet Union, Kazakhstan has experienced rapid economic growth, mostly attributed to its natural resources. According to the EBRD, Kazakhstan`s GDP grew by 9.4% in 2004 and is projected to grow by over 7.0% in 2005. The economic expansion is due to increased production of oil, minerals and other commodities, supported by high oil prices and rising foreign investments.
Kazakhstan`s substantial mineral resources include the world`s largest chromium, vanadium, bismuth and fluorine reserves. The country is a major producer of iron, coal, uranium, copper, lead, zinc, tungsten, molybdenum, borates, phosphorite, potassium and cadmium. It also ranks third amongst CIS countries in terms of gold reserves. Almost all gold mining companies and properties have been fully privatized in Kazakhstan, the only country within the former Soviet Union to have done so. This allows gold doré and gold-copper concentrates to be freely exported and sold.
Coal reserves in Kazakhstan are approximately 160Bt from 155 deposits in 10 major coalfields principally comprising energy and coking coal. The country also possesses enormous iron ore resources, containing 50-60% iron. Kazakhstan contains world class phosphorite deposits in terms of thickness and quality. It is the eighth largest copper producing country in the world and is a major producer of alumina (1.55 Mtpa). Kazakhstan occupies a large proportion of the Caspian oil province, where reserves are estimated to contain 20 billion barrels of oil and 700,000,000t of gas condensate, attracting more than US$15 billion in foreign direct investment over the last decade.
Conclusion
Seeking to take advantage of the secular bull market in resource and materials, investors seeking higher returns increasingly look to the countries of the former Soviet Union. Kazakhstan - the first among these countries to receive the investment grade, is currently among top 10 world`s fastest-growing economies (according to The Economist Intelligence Unit) with US$8.4 billion of direct foreign investment in 2004 (82.8 % growth compared to 2003) and real GDP growth of 9.4% in 2004.
Abundance of natural resources, many untapped resource-rich areas, economic and political stability, investor-friendly climate - all attributes that are proving popular with foreign investors, especially those in the extraction-based industries. However, to reduce the country`s dependence on the energy sector through diversification and modernization of the economy, the government of Kazakhstan is keen to attract much needed investment into such sectors as agriculture, food and beverage, transport, communications, financial sector, tourism as well as to encourage the development of SMEs and boost manufacturing. Various incentives are planned for investors ready to develop these markets. With the traditional extraction-based sectors still offering plenty of opportunities and new prospects emerging thanks to the government`s Strategy for Industrial and Innovative Development, Kazakhstan presents tremendous opportunities.
Click here for quick economic statistics on Kazakhstan:
http://www.cia.gov/cia/publications/factbook/geos/kz.html
http://www.321gold.com/editorials/reinhard/reinhard121505.ht…
Kazakhgold (GDRs)
Kazakhtelekom (ADRs)
und Kazakhmys
sind die einzigen zur Zeit handelbaren Aktien in Kazakhstan.
Das Land ist zwar nicht demokratisch, aber dynamisch. Interessant sind die Minen, da die Förderkosten durch niedrige Energiekosten im Vergleich zu anderen Regionen der Erde niedrig bleiben... Liter Diesel kostet umgerechnet 28 Euro-Cts.
Kazakhtelekom (ADRs)
und Kazakhmys
sind die einzigen zur Zeit handelbaren Aktien in Kazakhstan.
Das Land ist zwar nicht demokratisch, aber dynamisch. Interessant sind die Minen, da die Förderkosten durch niedrige Energiekosten im Vergleich zu anderen Regionen der Erde niedrig bleiben... Liter Diesel kostet umgerechnet 28 Euro-Cts.
@#9
Du hast die Urasia Energy vergessen. Das ist eine Uranminengesellschaft in Kasachstan. Gelistet in:
Berlin (U1A) ca. 1,95 €
Toronto (UUU) ca. 2,70 CAD
Du hast die Urasia Energy vergessen. Das ist eine Uranminengesellschaft in Kasachstan. Gelistet in:
Berlin (U1A) ca. 1,95 €
Toronto (UUU) ca. 2,70 CAD
Ne, hab ich nicht vergessen.
das ist schlechtweg keine kasachische Gesellschaft, sondern ein kanadisches Unternehmen, dass was weiß ich in Kasdachstan macht bzw. machen will.
das ist schlechtweg keine kasachische Gesellschaft, sondern ein kanadisches Unternehmen, dass was weiß ich in Kasdachstan macht bzw. machen will.
Kazkommertsbank duerfte aber als kasachisches Unternehmen gelten.
Jo, stimmt, müsste sein, auch wenn ich in Kasachstan selbst diese Bank noch nirgends zu Gesicht bekommen habe
mein lieber Scholli, die iss aber abgegangen
mein lieber Scholli, die iss aber abgegangen
Es gibt noch eine Öl-Aktie aus Kasachstan :MAX Petroleum WKN:A0HGSE ist noch ziemlich jung. Kursziel 10EUR.
In der Börsenzeitung von heute wird über Kasachstan berichtet. Kennt hier jemand die erwähnte CNPC-Aktobe mit dem Ticker Symbol AMGZ KZ? Ich finde auf deren Seite keine Zahlen, laut BöZ sollen sie ein KGV von 2,3 haben.
philipp
philipp
Zudem ist Kasachstan ein Nachbarstaat des rohstoffhungrigen China, an das die Kazakhmys-Werke 2004 85% ihrer Produktion mit geringen Transportkosten verkaufen konnten.
Und genau das ist das Problem !!!
Ist jemand von euch schon mal auf die Idee gekommen, das China sich die Rohstoffe selbst holen könnte,
ich meine nicht auf diplomatischem Wege sondern sondern auf kriegerischen ???
Nurmal so als Denkmodell !
Gruß codiman
Und genau das ist das Problem !!!
Ist jemand von euch schon mal auf die Idee gekommen, das China sich die Rohstoffe selbst holen könnte,
ich meine nicht auf diplomatischem Wege sondern sondern auf kriegerischen ???
Nurmal so als Denkmodell !
Gruß codiman
hey codiman??
Guckst Du zu viele schlechte Filme??
Oder bist einfach nur frustriert??
Guckst Du zu viele schlechte Filme??
Oder bist einfach nur frustriert??
CNPC (HONGKONG) LTD. Registered Shares HD -,01
03.03.06 19:22 Uhr
0,27 EUR
+0,00 % [+0,00]
KGVe:
9,31
DIVe:
2,46%
Typ: Aktie WKN
http://isht.comdirect.de/html/detail/main.html?hist=3m&sSym=…
03.03.06 19:22 Uhr
0,27 EUR
+0,00 % [+0,00]
KGVe:
9,31
DIVe:
2,46%
Typ: Aktie WKN
http://isht.comdirect.de/html/detail/main.html?hist=3m&sSym=…
[posting]20.486.246 von lucky27 am 03.03.06 14:15:08[/posting]@lucky27
Weder das eine noch das andere.
Ich lese nur ein paar Geschichtsbücher und aus der Geschichte kann man bekanntlich lernen.
Aber ist auch egal.
Aber eine Frage habe ich dann doch,
Transmeridian ist eine eine Explorer Gesellschaft die schon erfolgreich war,
MAX Petrolium auch, aber sie war noch nicht erfolgreich, trotzdem ist sie viel höher bewertet !
Warum ?
Gruß codiman
Weder das eine noch das andere.
Ich lese nur ein paar Geschichtsbücher und aus der Geschichte kann man bekanntlich lernen.
Aber ist auch egal.
Aber eine Frage habe ich dann doch,
Transmeridian ist eine eine Explorer Gesellschaft die schon erfolgreich war,
MAX Petrolium auch, aber sie war noch nicht erfolgreich, trotzdem ist sie viel höher bewertet !
Warum ?
Gruß codiman
@codiman
na ja, da musst Du wieder in Deinen Geschichtsbüchern schmökern.
z.B.: Der große Kostolany (Kapitel Börsenpsychologie)
nimm es nicht zu streng!!
liebe Grüße
lucky
na ja, da musst Du wieder in Deinen Geschichtsbüchern schmökern.
z.B.: Der große Kostolany (Kapitel Börsenpsychologie)
nimm es nicht zu streng!!
liebe Grüße
lucky
Hallo zusammen.
Ich hätte eine Frage zur Temirbank.
Weiß jemand, wie die genaue Aktienanzahl aussieht??
trot Recherche der geschäftsberichte ist es mir nicht klar ersichtlich wie die genaue Anzahl aussieht.
Hat sich aschon jemand mit dieser Bank beschäftigt?
Der KGV von 3 sieht ja für den Moment ganz gut aus.
Ich hätte eine Frage zur Temirbank.
Weiß jemand, wie die genaue Aktienanzahl aussieht??
trot Recherche der geschäftsberichte ist es mir nicht klar ersichtlich wie die genaue Anzahl aussieht.
Hat sich aschon jemand mit dieser Bank beschäftigt?
Der KGV von 3 sieht ja für den Moment ganz gut aus.
Antwort auf Beitrag Nr.: 20.883.598 von lucky27 am 21.03.06 12:03:35Hier sind eine Kurze Überblik, zwar von 2000 bis 2002, aber da hat sich nicht viel geändert.
01.01.2000 01.01.2001 01.01.2002
tsd. USD Position tsd. USD Position tsd. USD Position
Kurs USD/KZT 138,2 144,5 150,2
Kazkommerzbank 524 073 21,3% 760 968 20,8% 1 274 832 23,4%
TuranAlem 339 300 13,8% 550 765 15,1% 1 081 223 19,9%
Halyk Bank 413 604 16,8% 716 370 19,6% 866 921 15,9%
ATFB 86 087 3,5% 129 736 3,6% 261 484 4,8%
Citybank 56 477 2,3% 156 989 4,3% 220 412 4,0%
Zentrkredit 97 790 4,0% 131 884 3,6% 217 357 4,0%
ABN Amro 181 935 7,4% 179 081 4,9% 198 189 3,6%
Nurbank 70 325 2,9% 191 396 5,2% 168 155 3,1%
Temirbank 67 631 2,7% 97 200 2,7% 146 369 2,7%
Naurizbank 37 308 1,5% 16 198 0,4% 109 393 2,0%
Kaspijskij 26 825 1,1% 62 015 1,7% 100 157 1,8%
Insgesamt (große Banken ) 1 837 221 74,5% 2 992 601 81,9% 4 644 490 85,3%
Andere Banken 628 802 25,5% 661 025 18,1% 801 569 14,7%
Insgesamt (gesamte Banksystem) 2 466 023 100,0% 3 653 626 100,0% 5 446 059 100,0%
01.01.2000 01.01.2001 01.01.2002
tsd. USD Position tsd. USD Position tsd. USD Position
Kurs USD/KZT 138,2 144,5 150,2
Kazkommerzbank 524 073 21,3% 760 968 20,8% 1 274 832 23,4%
TuranAlem 339 300 13,8% 550 765 15,1% 1 081 223 19,9%
Halyk Bank 413 604 16,8% 716 370 19,6% 866 921 15,9%
ATFB 86 087 3,5% 129 736 3,6% 261 484 4,8%
Citybank 56 477 2,3% 156 989 4,3% 220 412 4,0%
Zentrkredit 97 790 4,0% 131 884 3,6% 217 357 4,0%
ABN Amro 181 935 7,4% 179 081 4,9% 198 189 3,6%
Nurbank 70 325 2,9% 191 396 5,2% 168 155 3,1%
Temirbank 67 631 2,7% 97 200 2,7% 146 369 2,7%
Naurizbank 37 308 1,5% 16 198 0,4% 109 393 2,0%
Kaspijskij 26 825 1,1% 62 015 1,7% 100 157 1,8%
Insgesamt (große Banken ) 1 837 221 74,5% 2 992 601 81,9% 4 644 490 85,3%
Andere Banken 628 802 25,5% 661 025 18,1% 801 569 14,7%
Insgesamt (gesamte Banksystem) 2 466 023 100,0% 3 653 626 100,0% 5 446 059 100,0%
Hallo, lucky27. Leider gelingt es mir nicht, die Daten vernünftig zu posten. Aber hier findest du die Homepage von Temirbank:
http://www.temirbank.kz/en/
und hier ist der gesamte Überblick (zwar auf russisch, aber, ich hoffe verständlich);von den "Gewichtsverteilungen" der Banken nn Kasachstan:
http://www.temirbank.kz/ru/finance/banks/position.htm
Auf jeden Fall ist die Temirbank in allen Aspekten deutlich "schwächer" als z.B. Kazkommerzbank.
http://www.temirbank.kz/en/
und hier ist der gesamte Überblick (zwar auf russisch, aber, ich hoffe verständlich);von den "Gewichtsverteilungen" der Banken nn Kasachstan:
http://www.temirbank.kz/ru/finance/banks/position.htm
Auf jeden Fall ist die Temirbank in allen Aspekten deutlich "schwächer" als z.B. Kazkommerzbank.
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