EXHIBIT 12.1
BMB MUNAI, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three months ended December 31, |
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2008 |
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2007 |
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Earnings: |
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(Loss)/income before income taxes |
$ (8,292,982) |
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$ 9,856,062 |
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Add: Fixed charges |
1,146,399 |
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1,134,299 |
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Add: Amortisation of capitalized interest |
11,927 |
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4,769 |
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Less: Interest capitalized |
1,146,399 |
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1,134,299 |
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Total earnings |
(8,281,055) |
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9,860,831 |
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Fixed charges: |
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Interest expensed and capitalized |
750,000 |
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750,000 |
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Amortized premiums, discounts, & bond costs |
396,399 |
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384,299 |
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Total fixed charges |
1,146,399 |
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1,134,299 |
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Ration of earnings to fixed charges |
(7.22) |
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8.69 |
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BMB MUNAI, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Nine months ended December 31, |
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2008 |
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2007 |
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Earnings: |
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Income before income taxes |
$ 14,858,367 |
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$ 22,746,163 |
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Add: Fixed charges |
3,415,040 |
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2,091,421 |
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Add: Amortisation of capitalized interest |
120,425 |
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13,459 |
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Less: Interest capitalized |
3,415,040 |
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2,091,421 |
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Total earnings |
14,978,792 |
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22,759,622 |
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Fixed charges: |
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Interest expensed and capitalized |
2,250,000 |
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1,391,667 |
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Amortized premiums, discounts, & bond costs |
1,165,040 |
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699,754 |
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Total fixed charges |
3,415,040 |
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2,091,421 |
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Ration of earnings to fixed charges |
4.39 |
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10.88 |
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