Transcript Power Point presentation – Serbian market

KBC Securities
Serbia: Investment case
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BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Market statistics
Market Capitalization (EUR m)
Number of listed stocks
Average daily turnover (EURm)
Foreign investor participation
INDICES
15.1
1,808
4.8
36.0%
YTD
BELEXline
-19.3%
BELEX15
-23.0%
SRX EUR
-26.2%
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BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Index Performance: BELEX15
3,000
Close
30D Mov Avg
2,800
2,600
2,400
2,200
2,000
1,800
1,600
1,400
1,200
1,000
Jan-08
Jan-08
Feb-08
INDEX
BELEX15
Feb-08
Mar-08
Mar-08
Apr-08
Apr-08
May-08
May-08
YTD
1M
3M
-23.0%
-11.2%
-14.6%
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Most active
Company
Industry
Symbol
(Bloomberg)
Av daily
Turnover
AIK Banka
Banking
AIKB SG
EUR 683.8k
Agrobanka
Banking
AGBN SG
EUR 157.6k
Energoprojekt
Construction
ENHL SG
EUR 101.7k
Symbol
(Bloomberg)
Mkt Cap
Highest mkt cap
Company
Industry
AIK Banka
Banking
AIKB SG
EUR 686.8m
Agrobanka
Banking
AGBN SG
EUR 161.7m
Energoprojekt
Construction
ENHL SG
EUR 233.5m
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Trading methods
Continuous
Prevailing price
Trading platform
Electronic trading system
Belex trading platform
Trading hours
Continuous
Prevailing price
9:00 am – 1:00 pm
10:00 am – 12:00 pm
Clearing and settlement
Central depositary and clearing house (www.crhov.co.yu)
Settlement of transactions: T+3
Delivery versus paymnet system - DVP
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Fees & Commissions
Brokerage fee
Negotiable
CR fee
0.10%
BSE fee
0.15%
Bank
n/a
Taxes
Capital gain*
20%
Dividend
10%
Transfer of ownership rights
0.35%
*Unless there is a double taxation treaty
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Country data
Population
7.4m
Area
88,361km2
Capital city
Currency
Belgrade
RSD (Serbian dinar)
Macroeconomics
2005
2006
2007
21.1
24.3
29.9
2,833
3,273
3,971
RPI (%)
17.7
6.6
10.1
Unemployment (%)
21.8
21.6
18.8
Average net salary (€)
204.0
274.8
350.3
Trade balance (% of GDP)
-22.9
-22.1
-23.1
-9.7
-13.8
-17.5
1,244.6
3,398.7
1,601.6
GDP (€ bn)
GDP per capita (€)
Current acc balance (% of GDP)
Net FDI (€ m)
Source: Minstry of Finance
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696
Contact us
Trading
Tanja Loncar
[email protected]
Ana Jovanovic
[email protected]
Dusan Markovic
[email protected]
Dusan Sotirovic
[email protected]
Research
Sandra Jankovic
Vladan Rankov
Vladan Pavlovic
[email protected]
[email protected]
[email protected]
Back Office
Petar Licina
Stanislava Petkovic
Ljubisa Zlatkovic
Emilija Dimitrov Milutinovic
[email protected]
[email protected]
[email protected]
[email protected]
Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw
BDD KBC Securities a.d. Beograd | Cincar Jankova 3 | Beograd | [email protected] | Tel/Fax: +381 11 2910 696