Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

Early morning on Aug. 18 Thursday, there was the news about the possibility that Samsung Life would acquire additional stakes in Samsung Fire and Samsung Securities in an effort to create intermediate financial holding company. Specifically, Samsung Life would buy some of Samsung Fire's treasury shares - equivalent to a 9% stake - as well as Samsung Fire's 8.02% stake in Samsung Securities. That is, investors had expectations that Samsung Life may announce creation of financial holding company…

Early morning on Aug. 18 Thursday, there was the news about the possibility that Samsung Life would acquire additional stakes in Samsung Fire and Samsung Securities in an effort to create intermediate financial holding company. Specifically, Samsung Life would buy some of Samsung Fire's treasury shares - equivalent to a 9% stake - as well as Samsung Fire's 8.02% stake in Samsung Securities. That is, investors had expectations that Samsung Life may announce creation of financial holding company…

Recap on Samsung Affiliates' Recent Price Surge

A consortium of Samsung Group’s financial affiliates (led by Samsung SRA Asset Management) has won the bid to acquire Commerzbank Tower in Frankfurt, the tallest building in Germany. The building is priced at around ₩900bil (US$801mil). The consortium involves Samsung Securities (016360), Samsung Life Insurance (032830) and Samsung Fire &amp; Marine Insurance (000810).* Commerzbank plans to continue to use the building on lease after the sale.  Samsung plans that Samsung’s three financial affiliates…

A consortium of Samsung Group’s financial affiliates (led by Samsung SRA Asset Management) has won the bid to acquire Commerzbank Tower in Frankfurt, the tallest building in Germany. The building is priced at around ₩900bil (US$801mil). The consortium involves Samsung Securities (016360), Samsung Life Insurance (032830) and Samsung Fire &amp; Marine Insurance (000810).* Commerzbank plans to continue to use the building on lease after the sale.  Samsung plans that Samsung’s three financial affiliates…

Creation of Samsung's Intermediate Financial Holding Co May Be Already in Progress

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.<div class="content-highlight">The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…</div>

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…

Alpha Generation & Share Buybacks in Korea

Corporate Credit Analyst

Alan Greene

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the same time, on 30 June, the Korea Times carried a headline “Bedroom shock: Korea's sexless rate ranked world's second”. The sovereign rating of its neighbour Japan has seen steady pressure for the last five years driven in part by its demographic profile. Korea's demographic profile is likely to deteriorate more rapidly than Japan's and we should therefore expect a similar debt induced stall in growth. The banking system is under pressure and this could soon translate into pressure on Korea's credit ratings.

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

What comes as crisis (Brexit) to most countries has been taken up as an opportunity by the Chinese Central bank (PBoC) and as it pushes RMB sharply lower. On the second day of trade post Brexit, Asian EM currencies like Rupiah and Rupee traded in a tight range thanks to Central bank selling, but PBoC fixed the Yuan at still a lower level of 6.6375 to USD. It was only last week that a level of RMB6.6: USD was considered a red line for PBoC by traders but is no longer the case. China is smartly…

What comes as crisis (Brexit) to most countries has been taken up as an opportunity by the Chinese Central bank (PBoC) and as it pushes RMB sharply lower. On the second day of trade post Brexit, Asian EM currencies like Rupiah and Rupee traded in a tight range thanks to Central bank selling, but PBoC fixed the Yuan at still a lower level of 6.6375 to USD. It was only last week that a level of RMB6.6: USD was considered a red line for PBoC by traders but is no longer the case. China is smartly…

China Spots Opportunity in Brexit Where Others See a Threat!

South Korea

Samsung Fire & Marine Insurance Co., Ltd. provides insurance services. The Company offers auto, fire, marine, casualty, health, leisure, and retirement products and services. Samsung Fire & Marine Insurance serves customers in South Korea.

Samsung Fire & Marine Insurance (000810 KS)

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Samsung Fire & Marine Insurance (000810 KS)

Recap on Samsung Affiliates' Recent Price Surge

Early morning on Aug. 18 Thursday, there was the news about the possibility that Samsung Life would acquire additional stakes in Samsung Fire and...

Sanghyun Park

Creation of Samsung's Intermediate Financial Holding Co May Be Already in Progress

A consortium of Samsung Group’s financial affiliates (led by Samsung SRA Asset Management) has won the bid to acquire Commerzbank Tower in...

Sanghyun Park

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the...

Alan Greene

China Spots Opportunity in Brexit Where Others See a Threat!

What comes as crisis (Brexit) to most countries has been taken up as an opportunity by the Chinese Central bank (PBoC) and as it pushes RMB sharply...

Asia Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Recap on Samsung Affiliates' Recent Price Surge

Early morning on Aug. 18 Thursday, there was the news about the possibility that Samsung Life would acquire additional stakes in Samsung Fire and...

Sanghyun Park

Creation of Samsung's Intermediate Financial Holding Co May Be Already in Progress

A consortium of Samsung Group’s financial affiliates (led by Samsung SRA Asset Management) has won the bid to acquire Commerzbank Tower in...

Sanghyun Park

Alpha Generation & Share Buybacks in Korea

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27...

Douglas Kim

Can "sexless" Korea Beat the Demographic Cliff and Maintain Its Credit Rating?

Recently announced industrial output figures for June suggest that Korea may be able to trade its way towards higher growth rates. However, at the...

Alan Greene

China Spots Opportunity in Brexit Where Others See a Threat!

What comes as crisis (Brexit) to most countries has been taken up as an opportunity by the Chinese Central bank (PBoC) and as it pushes RMB sharply...

Asia Advisors