National News Corporation
National News Corporation LLC which is owned by the Trade and Development Bank of Mongolia LLC (TDB). President of TDBM is Medree B. He is one of the founders of the TDB and worked in the financial sector for 25 years. He also holds the post of Vice President of Mongolian Banking Association. On a ticket of the Democratic Party (DP), Medree B ran in the parliamentary election 2012 and again in 2016. However, he was not elected in both elections. Erdenebileg D is the Chairman of the Board of Directors of TDB. The exact amount of TDB shares he owns is not certain. However, Erdenebileg also owns 99 percent of shares of the Ulaanbaatar City Bank.To the well-informed economist Jargalsaikhan, the Chairman Erdenebileg appears to be “the most powerful, secretive, and richest person in Mongolia”, Jargal writes in a [recent article with the headline “New phenomenon in corruption” on his website jargaldefacto](http://jargaldefacto.com/article/erdenebilegism-a-new-phenomenon-in-mongolia-s-democracy). The article continues: “If you look at all the information made available about him, it appears that he owns the majority of shares of the biggest commercial bank in Mongolia through an offshore account. This is why he sits on the board. Also, he owns 99 percent of the shares of Ulaanbaatar Bank, which was established by the current Speaker of Parliament, M. Enkhbold, when he was the mayor of our capital city.”In addition, the article continues, that “Vice Speaker Ts. Nyamdorj said that D. Erdenebileg used the same mechanisms to impose his control through TDB on the Darkhan Metallurgical Plant, Khutul’s cement plant, Erdenet Mining Corporation, and Mongolrostsvetmet. Apparently, D.Erdenebileg is also preparing to seize Baganuur and Thermal Power Plants 3 and 4 (as reported by The Daily News, on October 3, 2016). It is also said that TDB paid a large amount of money to have Bloomberg Mongolia work for them, and purchased Forbes Mongolia Magazine. … If all these claims are true, we are witnessing a phenomenon we can call “Erdenebilegism” – one individual being able to control everything”.
National News Corporation Media: Zasgiin Gazryn Medee newspaper, Bloomberg TV Mongolia,
Forbes Mongolia Magazine, Financial Times Newspaper. Other business: TDB Leasing LLC (Financial leasing),
TDB Capital LLC (Securities).
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Answering the MOM questionnaire was postponed by ZGMM LLC for 14 days due to the Director being on an overseas business trip. Then, the questionnaire was answered after visiting the office in person and making 3 phone inquiries.
Mongolian Media Today 2016, Press Institute of Mongolia, (Document ID 1); “Засгийн газрын мэдээ” сонины 2016 оны 8, 9, 10 сарын дугаарууд;
http://tdbm.mn/mn/about-us Худалдаа хөгжлийн банкны тухай;