EXHIBIT 12.1
BMB MUNAI, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three months ended |
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Six months ended |
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2009 |
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2008 |
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2009 |
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2008 |
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Earnings: |
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Income before income taxes |
$ 4,040,009 |
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$ 9,830,026 |
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$ 4,070,791 |
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$ 23,151,349 |
Add: Fixed charges |
1,145,331 |
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1,132,799 |
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2,293,378 |
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2,268,641 |
Add: Amortisation of capitalized interest |
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14,317 |
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- |
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59,646 |
Less: Interest capitalized |
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1,132,799 |
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- |
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2,268,641 |
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Total earnings |
5,185,340 |
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9,844,343 |
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6,364,169 |
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23,210,995 |
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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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1,500,000 |
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1,500,000 |
Amortized premiums, discounts, & bond costs |
395,331 |
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382,799 |
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734,329 |
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768,641 |
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Total fixed charges |
1,145,331 |
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1,132,799 |
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2,234,329 |
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2,268,641 |
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Ration of earnings to fixed charges |
4.53 |
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8.69 |
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2.78 |
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10.23 |