A

Жижиг

A

Дунд

A

Том
http://zgm.mn/post/1603/

Deep water contamination found 47m underneath surface

Bacterial contamination found in 88 percent of UB area

 0 сэтгэгдэл

A

Жижиг

A

Дунд

A

Том
http://zgm.mn/post/1603/


Ulaanbaatar Environmental Department (UED), under the support from United Nations International Children's Emergency Fund (UNICEF), organized Ulaanbaatar City Soil Pollution and Health discussion to present the results of a study on soil, which addresses critical level of pollution. 

The survey, which sampled the soil in Ulaanbaatar city, shows that 88 percent of the territory has been highly polluted with bacterial contamination according to Battulga Erkhembayar, Director General of UED. Furthermore, Mr. Battulga highlighted the necessity to focus on soil pollution and health issues caused by urbanization that are close to danger level.

The UED also conducted a survey on ground breaks recently. The study unearthed several soil erosion caused by mining a mineral that is widely used for constructions. Based on these studies, the UED decided to restore these areas by planting trees and bushes that soak up pollutants and developing apiculture (beekeeping) in areas that have fewer species of plants. 

Mr. Battulga addressed, “Regarding the apiculture, bees pollinate plants. This project model was implemented in a locally protected area near Selbe river and was successful. Thus, we will support private entities, especially the beekeepers, next year. Starting from January 1 of next year, households living near river basins will be banned from using pit latrine. This is a significant step towards securing clean water source in the capital.”

Participants pointed out that pit latrines are the main cause for soil pollution in the capital. As of today, about 800,000 households live in ger districts in Ulaanbaatar, of which 95 percent use long drops. In total, there are 190,000 pit toilets in Ulaanbaatar. The highest contamination is around 2.8 meters underneath surface, which is the average depth of a long drop. Furthermore, the study also confirms that the soil pollution is contaminating deep water with microorganisms. In specific, the study on 1.5 meter deep well, which is closest to the surface, came out with high pollution and the deepest (47 meters in depth) well was also had certain amount of contamination.

According to the UED, the lack of waste management is another factor for soil contamination. Thus, the capital city officials addressed the immediate need to install waste segregation system and as its first step, to adapt waste monitoring system. In order to address this issue, over 10 private and public organizations conduct soil surveys; however, due to lack of coordination, ineffective projects and overlapped surveys are conducted. Thus, the discussion further picked up on improving coordination.

A

Жижиг

A

Дунд

A

Том

70 children become victims to cancer every year in Mongolia

One out of four children suffering from cancer are dying at early age in Mongolia

 0 сэтгэгдэл


An 18-months old baby was delivered to his second surgery table just recently. Diagnosed with a rare type of cancer that the country is unable to treat, the infant was sent abroad in hopes that better medical care and equipment would save this brave little heart.

Witnessing the cruelty of the world since birth, this tiny sprout cannot even express the amount of agony he is in. Unfortunately, hundreds of children are suffering from the same illness, struggling to get the better of the excruciating pain. For them, the Pediatric Cancer Hospital of the National Center for Maternal and Child Health (NCMCH) is the only home they know. Some are receiving radiation therapy and some are on surgery beds. It is heart-wrenching to even imagine how much pain they are in.

Up until now, we understood that cancer was an illness for only the elders. But the situation is different now. We can see that cancer is a threat to everyone including infants.

At the NCMCH, 60 infants were diagnosed with cancers in 2016. But the number of cancer discovery among newborns increased to 70 last year. Adding the children that are currently being treated, nearly 700 children are suffering from cancer as of today. The number is constantly on the rise without decreasing. As miserable as it is, the country does not have a single study on the cause of this growing number of pediatric cancer.

“The cause of 95 percent of pediatric cancer remain undiscovered. The remaining five percent are due to genetic mutations, in other words hereditary. The rise in cancer victims is driven by two factors. First, improving diagnosis. We now can discover multiple types of cancer with modern medicine. Secondly, the increasing number of illness that is following the evolution of society,” explained a spokesperson of the NCMCH.

The global rate of successful pediatric cancer treatment is currently at 80 percent. But the rate stands at 75 percent for Mongolia. This means that one out of four children are departing this world at the very starting point.

“Although we cannot ascertain the root of the cause, there are assumptions. For example, it could be a numerous virus or the vulnerability after a common cold could inflict the tumor. Due to the lack of official studies, we cannot be sure whether if air pollution is another source or not. But it is definitely slowing the process of treatment,” said an oncologist at the NCMCH.

It is obvious that there are many factors at play for cancer. But it would not be false to say air pollution is the root of all the potential risks. Troubled by the actual danger among children, another doctor remarked, “I am worried about the newborns. Because they have a very high chance of becoming victims of cancer in just a few years. Although it is not proven scientifically, there is a high chance that this probability could be real.”

A

Жижиг

A

Дунд

A

Том

Khurelbaatar Chimed: 319 entities drew loans from two funds

Total losses of three key funds total MNT 395.3 billion

 0 сэтгэгдэл


Minister of Finance Khurelbaatar Chimed held a press conference after the Cabinet meeting yesterday to disclose the results of investigations on state-owned funds, which was conducted following the disclosure of Small and Medium-sized Enterprise Development Fund scandal. However, the finance minister refused full disclosure and postponed the matter onto the fourth week.

The investigations on special purpose funds have been completed weeks ago. But the Cabinet is refusing the reveal the information of loaners, assuring to present it next week. This was the third time the Cabinet postponed the results.

Mr. Khurelbaatar addressed, “There are cases where a single entity was granted loans from three different funds and there are a total of 319 private entities that have drawn loans from two funds. 

Many companies are overdue on repayment, but due to the fact that the Bank of Mongolia does not register the repayment of these funds, the reimbursement has been under a major delay. The overdue loans were reduced from the initial amount of MNT 130 billion to MNT 100 billion in the last one to two months.”

Since the establishment of the Farming Support Fund, over 16,000 entities have drawn loans two or more times. The minister explained that the majority of these were used to pay off previous debts. Further more, a request has been delivered to the Cabinet on dissolving some of these funds. Mr. Khurelbaatar then noted to provide details on the matter once the Cabinet reaches a decision.

Farming Support, Livestock Protection, and Employment Promotion funds granted MNT 938.8 billion worth loans to individuals and entities. As of 2017, the total loss amounted to MNT 395.3 billion. The minister suspects that the loaners may have saved the loans in commercial banks as the interest is lower than savings rates.







A

Жижиг

A

Дунд

A

Том

Eight companies announce to disburse dividends so far

Roadshow for Ard Credit IPO to take place today

 0 сэтгэгдэл


Within the legal obligations, the Mongolian Stock Exchange (MSE)-listed firms are required to have announced the information regarding the dividends by today. As of today, eight companies have announced to distribute dividends.

For instance, Gobi JSC has informed to allocate MNT 5.3 billion, or MNT 6.8 per share from the net profits of 2018. The dividend is scheduled to be distributed starting from April 25, either via cash at the headquarter or via bank transfers. Last year, Gobi JSC distributed MNT 1.7 billion in dividends.

Mongol Basalt JSC will be oneyear- old since its IPO in May. The company, which offered 30 percent of its stake, announced to disburse MNT 56.4 million or MNT 1 per share from the net profits of 2018. Disclosure of dividend distribution within the first year after going public had a positive effect on the company’s stock as the price increased from MNT 250 per share to MNT 260 within a week.

Next on the list is Bayan Teeg JSC. The company, which is operating a coal business, is planning to allocate MNT 3,958.7 per share, which is the highest amount of dividend distribution as of today. The dividends will be administered by June 1.

Another public company in the same business field, Tavan Tolgoi JSC has announced its 2018 financial report. Within the financial year, the coal exporter earned a total of MNT 226.4 billion in sales revenue and MNT 52.6 billion in net profits, which is three times lower than the 2017 net profits. The board of Tavan Tolgoi disclosed to disburse MNT 998.7 per share. The company allocated MNT 2,410 per share last year.

A farming industry firm Khuvsgul Altan  Duulga JSC also announced to distribute MNT 1.88 billion, or MNT 120 per share in dividends this year. The company offered a seasoned issue last year and raised MNT 3.74 billion, doubling the number of shareholders, and its market capitalization reached MNT 16.1 billion.

Starting from May 1, a publicly- owned postal service provider Mongolian Post JSC will disburse MNT 468 million, or MNT 4.7 per share, while Talkh Chikher JSC announced to allocate MNT 204.7 million or MNT 200 per share from July 1. Next up is a national meat and meat products manufacturer Makh Impex JSC. The company is planning to administer MNT 456 million or MNT 120 per share in October 2019.

As of today, 305 public firms are listed at the Financial Regulatory Commission. As of the end of 2018, the market capitalization of the MSE stood at MNT 2.5 trillion, a 2.9 growth year over year.

Additionally, the second IPO of 2019 was announced recently. Ard Credit LLC, which operates a non-banking financial institution (NBFI) and has signed a deal with Mongolian Post JSC on delivery service, is planning to raise MNT 4.9- 5.4 billion at MNT 70-85 per share by offering 25 percent of its stake to built up a loan source. Half of the shares are being offered to strategic investors and the other half is for the public. The company announced a roadshow for its IPO at 6.30PM at Corporate Convention Center today.

As of today, a total of 539 NBFIs are operating in Mongolia. Net equity of the NBFIs totaled MNT 1.3 trillion last year, a 32.5 percent growth year over year.

A

Жижиг

A

Дунд

A

Том

Parliament to discuss tax package next month

Stakeholders of business sectors discuss package bills on tax

 0 сэтгэгдэл


The Parliament is expected to discuss the package bills on taxes during the Spring session. Accordingly, the Ministry of Finance, General Tax Office, Mongolian National Chamber of Commerce and Industry (MNCCI), Confederation of Mongolian Trade Unions, and business representatives held a discussion on the package bills yesterday. At the meeting, MP Battumur Baagaa informed that the Parliament is planning to call an irregular session to discuss the bill next month.

Lkhagvajav Baatarjav, President of the MNCCI, addressed, “Business representatives held long discussions with the Ministry of Finance on the package bills. We believe that these laws are well-prepared for setting the foundation of a good tax system.”

Minister of Finance Khurelbaatar Chimed highlighted that the key changes in the package bills are the extension of the tax payment period from two months to 24 months, instant repayment of overpaid taxes, the improved authority of tax officials, prevention of investigation on no-risk taxpayers, annulment of the prescription period on tax evasions, and improved accountability of tax authorities.

“Within the frames of the bill, the Government will hold policy to support fair and responsible taxpayers and cut the costs of deductibles. We will take firm actions against tax evasions, avoidance, and unfair taxpayers, collecting full taxes in accordance with the law,” noted Mr. Khurelbaatar. The bill sets a fixed tax rate of 10 percent and entities with an annual income of MNT 50 million or lower will pay 1 percent tax and are required to submit a single financial report throughout the year. While the entities with an annual income of MNT 3 billion or lower are required to submit half-annual reports, the high-income firms are required to submit quarterly reports.

Key changes in the Corporate Income Tax include a reduction of 20 percent tax on the outbound transfer of income to 15 percent, 20 percent deductibles on dividends to foreigners to 5 percent, and 10 percent tax on bank-based financial sourcing to 5 percent.