Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

We attended the 2016 IoT Exhibition &amp; International Conference (Seoul) yesterday, which is the largest one for the IoT sector in Korea. We wanted to kick some tires and see in person some of the interesting developments in the IoT sector. Internet of Things will likely be one of the key investment themes over the next decade. Korea is well positioned to capitalize on this trend, driven by its high penetration of smartphones and broadband as well as its leadership on high-tech products and…

We attended the 2016 IoT Exhibition &amp; International Conference (Seoul) yesterday, which is the largest one for the IoT sector in Korea. We wanted to kick some tires and see in person some of the interesting developments in the IoT sector. Internet of Things will likely be one of the key investment themes over the next decade. Korea is well positioned to capitalize on this trend, driven by its high penetration of smartphones and broadband as well as its leadership on high-tech products and…

Internet of Things Will Change the World (Part 7) - 2016 IoT Exhibition & Conference in Seoul

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

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

Following are the four companies who are said to have submitted their bids for Tongyang Magic: SK Networks (001740), Hyundai Home Shopping (057050), AJ Networks (095570) and Unid-Stic Investment consortium (014830). * CJ Group and Hyundai Department Store didn't join the race. Multiple Korean newspapers have reported that SK Networks has been selected as preferred bidder for Tongyang Magic. SK Networks is said to have raised their price to ₩610bil (US$554mil). In fact, SK Networks has been…

Following are the four companies who are said to have submitted their bids for Tongyang Magic: SK Networks (001740), Hyundai Home Shopping (057050), AJ Networks (095570) and Unid-Stic Investment consortium (014830). * CJ Group and Hyundai Department Store didn't join the race. Multiple Korean newspapers have reported that SK Networks has been selected as preferred bidder for Tongyang Magic. SK Networks is said to have raised their price to ₩610bil (US$554mil). In fact, SK Networks has been…

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

<blockquote>
“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
</blockquote>This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…


“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

The "One-Shot Act" (also called The Special Act on the Corporate Revitalization) effectively started in Korea on 16 August when <a href="https://www.smartkarma.com/entities/8656" target="_blank" data-smartkarma-citation="entities:8656:1">Hanwha Chemical Corp (009830 KS)</a> became the first company to proactively file its application. The One-Shot Act was passed into law in February 2016. The One-Shot Act will help companies to accelerate spin-offs and mergers through simplified structures as well as provide tax benefits and subsidies for R&amp;D. The companies that want to benefit from the One-Shot Act need to…

The "One-Shot Act" (also called The Special Act on the Corporate Revitalization) effectively started in Korea on 16 August when Hanwha Chemical Corp (009830 KS) became the first company to proactively file its application. The One-Shot Act was passed into law in February 2016. The One-Shot Act will help companies to accelerate spin-offs and mergers through simplified structures as well as provide tax benefits and subsidies for R&amp;D. The companies that want to benefit from the One-Shot Act need to…

Start of One-Shot Act - The Good, Bad, and the Ugly

The four major construction stocks in Korea <a href="https://www.smartkarma.com/entities/4292" target="_blank" data-smartkarma-citation="entities:4292">Hyundai Engineering &amp; Const</a>, <a href="https://www.smartkarma.com/entities/7699" target="_blank" data-smartkarma-citation="entities:7699">Hyundai Development Co Engg &amp; Cnstn</a>, <a href="https://www.smartkarma.com/entities/15916" target="_blank" data-smartkarma-citation="entities:15916">Gs Engineering &amp; Construct</a>, and <a href="https://www.smartkarma.com/entities/12333" target="_blank" data-smartkarma-citation="entities:12333">Daewoo Engineering &amp; Constr</a> share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly</a>…

The four major construction stocks in Korea Hyundai Engineering &amp; Const, Hyundai Development Co Engg &amp; Cnstn, Gs Engineering &amp; Construct, and Daewoo Engineering &amp; Constr share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly…

Close Out the Shorts on Korean Construction Stocks?

South Korea

LX International is a commodity trading and mining company.  The Company develops and trades coal, oil, gas, non-ferrous metals, palm oil, and renewable energy. LG International also trades IT related component/equipment, petrochemical and steel product.

GS Global Corporation is a general trading company which exports heavy industrial products.  The Company's exports include steel, machinery, electronic chemical products, coal, and oil.  GS Global exports its merchandise mainly to the U.S., Japan, and China.

Sam Yung Trading Co., Ltd. imports and exports chemicals, such as monomer and solvent.  The Company also exports plastic ophthalmic lenses to Japan, China, Hong Kong, Britain, Germany, and other countries.

Hyundai Corporation is a trading company.  The Company exports Hyundai Group's products, such as steel, ships, plants, automobiles, semiconductors, and machinery.  Hyundai Corporation also imports machinery and raw materials.

iMarketKorea Inc. provides procurement services and MRO goods.  The Company operates in North America, South America, Asia, and Europe.

STX Corporation is an investment holding company.  The Company, through its subsidiaries, manufactures medium-sized diesel engines for ships, generators, trains, and tanks.

Hydro Lithium Inc manufactures and distributes full scale lithium products. The Company produces battery grade lithium hydroxide and other related products. Hydro Lithium also offers structural metal products, bridge, tunnel, and railway construction services.

AJ Networks Co., Ltd. is a holdings company that is engaged in various industries including auto rentals, general rentals, logistics/distribution, and finance.  The Company's subsidiaries include AJ Rentacar, AJ Total, AJ Park, and AJ Capital Partners.

Hae In Corporation leases heavy construction equipment. The Company supplies civil engineering equipment, mining equipment, marine engines, generators, and other related products. Hae In also offers photovoltaic power generation and power generation services.

Wonik Cube Corp imports and sells petrochemical and chemical products. The Company also wholesales and retails construction materials.

KANAMOTO CO., LTD. leases a wide variety of construction machinery.  The Company also sells steel products and computer equipment.

NEC Capital Solutions Limited leases machinery and equipment to public offices and private companies. The Company also provides factoring services.

Shanghai Huitong Energy Resource Co., Ltd. manufactures a variety of machinery. The Company's products include rubber, plastic injection molding, fine chemical, metals, electronics, and pencil machinery, as well as building parking garage lift system.  The Company also invests in the real estate business.

NICHIDEN Corporation distributes power transmission systems, industrial machines and control equipment.  The Company also sells factory automation equipment, robots, and packing systems.  Nichiden's products include speed reducers, chains, belt drives, sprockets, shafts, couplings, and bearings.

Tianjin TEDA Co., Ltd. (Tianjin Economic-Technological Development Area Co. Ltd.) is an investment holding company.  Through its subsidiaries, the Company manufactures polyester fibers, apparel, air and water filter materials, and pharmaceuticals, operates the Binhai Bridge, and provides plant nursery services.

Zhejiang Materials Development Co Ltd operates in commercial trading businesses. The Company wholesales ferrous metal materials and chemical products, trades a utomobiles, as well as provides auto rental, leasing, and repair services. Zhejiang also markets environment protection products, and operates hotel business.

Zhejiang Materials Development (000906 CH)

TOTECH CORPORATION is a trading company handling primarily air conditioning systems and related equipment.  The Company's products include energy-saving machinery, control equipment and components, and instrumented equipment.  Totech also operates building maintenance and engineering works.

YUASA TRADING CO., LTD. trades various kinds of industrial machinery.  The Company also wholesales construction machinery and materials, electric machinery, food, fluidic equipment, medical, lumber, and communication equipment.

NISHIO RENT ALL Co., LTD. is a construction equipment rental company.  The Company also leases tents and other equipment used in exhibition.

Zhongyeda Electric Co., Ltd. is a distributor of industrial electrical products.  The Company distributes industrial electrical components,  produces and sells systems integration products.

SK Networks Co., Ltd. is a general trading company.  The Company trades general merchandise, such as steel, oil, timber, petrochemical, household appliances, clothing, textile products, and information technology equipment.  SK Networks provides insurance and financial services through subsidiaries.

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SK Networks (001740 KS)

Internet of Things Will Change the World (Part 7) - 2016 IoT Exhibition & Conference in Seoul

We attended the 2016 IoT Exhibition & International Conference (Seoul) yesterday, which is the largest one for the IoT sector in Korea. We...

Douglas Kim

SK Networks Scoops Up Tongyang Magic

Following are the four companies who are said to have submitted their bids for Tongyang Magic: SK Networks (001740), Hyundai Home Shopping...

Sanghyun Park

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a...

Drewry Maritime Financial Research

Start of One-Shot Act - The Good, Bad, and the Ugly

The "One-Shot Act" (also called The Special Act on the Corporate Revitalization) effectively started in Korea on 16 August when Hanwha Chemical...

Douglas Kim

Close Out the Shorts on Korean Construction Stocks?

The four major construction stocks in Korea Hyundai Engineering & Const, Hyundai Development Co Engg & Cnstn, Gs Engineering &...

Douglas Kim

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