As we reported, the printing house of the “Ulaanbaatar Times Newspaper” was sold to the Abdul Karim for MNT 24 billion on 30th November. Abdul Karim, who has been Mongolian citizen since 2002, has since applied to terminate the contract at the City Property Office (CPO).
Under the law, Abdul Karim’s prepayment of MNT 710 million will become State Property. The Mongolian General Intelligence Agency has the official right to check the sources of finance of any legal entity, planning to buy state property.
L.Bayanbat, a media representative of the CPO has informed that: “The CPO will offer Ts.Baatarsaikhan, director of the “Tavan Bogd Group” to buy the printing house, without auction, in accordance with his offer of MNT 23,850 billion”.