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EXHIBIT 12.1
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BMB MUNAI INC |
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES |
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Year ended March 31, |
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2009 |
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2008 |
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2007 |
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Earnings: |
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Income before income taxes |
$ 16,129,286 |
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$ 31,206,982 |
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$ 1,892,771 |
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Add: Fixed charges |
4,553,914 |
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3,218,141 |
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- |
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Add: Amortization of capitalized interest |
185,554 |
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68,123 |
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- |
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Less: Interest capitalized |
(3,415,040) |
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(3,218,141) |
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- |
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Total earnings |
17,453,714 |
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31,275,105 |
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1,892,771 |
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Fixed charges: |
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Interest expensed and capitalized |
3,000,000 |
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2,141,667 |
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- |
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Amortized premiums, discounts, & bond costs |
1,553,914 |
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1,076,474 |
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- |
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Total fixed charges |
4,553,914 |
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3,218,141 |
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- |
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Ratio of earnings to fixed charges |
3.83 |
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9.72 |
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- |
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