The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In the wake of a recent share price surge, we see several factors that need to be checked in order to justify an increased valuation for the cement industry. We view the key check points as being
The Korea Exchange announced on March 29 that a total of 39 companies whose fiscal year ends in December failed to obtain an unqualified audit opinion in their FY2020 audit reports submitted by March 26.The 39 companies are divided into seven KOSPI-listed and 32 KOSDAQ-listed companies. In KOSPI, JW
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Going forward, we expect Ssangyong Cement to expand its eco-friendly businesses, change its name, and add several environment-related business objectives. Also boding well is likely improvement i
The Korea Automobile Manufacturers Association announced on March 18 that a total of 101,735 cars were sold in South Korea last month, up 23.9 percent from a year ago.According to the association, Hyundai’s sales volume increased 32.6 percent in February this year, led by midsize and large SUVs such
The Reserve Bank of India (RBI) has approved Mahindra & Mahindra's capital reduction plan for its 75 percent stake in SsangYong Motor, clearing a big hurdle for the ailing automaker’s implementation of a pre-packaged restructuring plan (P-Plan).As the RBI has approved Mahindra & Mahindra’s capit
Mercedes-Benz and BMW sold more cars than GM Korea, Renault Samsung Motors and SsangYong Motor in South Korea last month. This is the first time that the former two outperformed the three. The dominance of Hyundai Motor Group, Mercedes-Benz and BMW in the South Korean car market is continuing to inc
SsangYong Motor Co., part of India's Mahindra Group, announced on March 2 that the company sold a total of 2,789 units in February 2021 -- 2,673 units in domestic sales and 116 in exports.SsangYong’s February 2021 sales plunged 60.9 percent over the same month last year due to 14-day suspension
The Korean government will require automakers to raise the share of pollution-free cars in their car sales in a bid to increase the number of pollution-free cars sold this year to 300,000 units.As a result, Hyundai Motor Co. and Kia Corp. will be required to increase the proportion of electric vehic
The South Korean government came up with a new greenhouse gas emissions control target on Feb. 15 and automakers expressed concerns over the fast pace in strengthening environmental regulations.Earlier, they suggested 77 g/km for 2030 during their talks with the government. The Ministry of Environme
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Construction 106: Analysis of impact of measures to expand housing supply and regulate reconstruction projects Building materials makers are to benefit from government measures aimed at expanding
SsangYong Motor has got one step closer to a court receivership as its pre-packaged bankruptcy plan (P-Plan) hit a snag.Choi Dae-hyun, senior vice president of Korea Development Bank (KDB), said at an online press conference on Feb. 2 that the potential investor left Korea on Jan. 31 without making
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In the domestic cement industry, we expect cost savings from increased demand for cement, price hikes, and investment in alternative fuel-based facilities to appear one by one from 2021. Expectin
SsangYong Motor, part of India's Mahindra Group, announced on Feb. 1 that the company sold a total of 8,678 units in January 2021 – 5,648 units in domestic sales and 3,030 in exports.The company’s January sales rose 13.4 percent over the same month last year thanks to a recovery in exports, desp
While SsangYong Motor's future is on the line, concerns are growing about the future of GM Korea and Renault Samsung Motor, the remaining foreign carmakers producing cars in Korea.The two companies' parents are implementing belt-tightening measures amid a massive conversion to electrificatio
SsangYong Motor is seeking to attract US$250 million in investment from U.S. auto retailer HAAH Automotive.SsangYong Motor and HAAH Automotive will sign an investment agreement in early February at the earliest and submit a pre-packaged bankruptcy plan (P-Plan) to the court.A prepackaged bankruptcy
SsangYong Motor Co., part of India's Mahindra Group, announced on Jan. 29 that it sold 107,416 units, posted revenue of 2,950.2 billion won, an operating loss of 423.5 billion won, and a net loss of 478.5 billion won in 2020.Despite efforts to reduce fixed costs through strong self-rescue effort
SsangYong Motor has been pushed one step closer to falling under court receivership as HAAH Automotive of the United States has notified Mahindra & Mahindra of India, the largest shareholder of the troubled automaker, and Korean creditors of the collapse of its acquisition negotiations.Without addit
India's Mahindra & Mahindra, the largest shareholder of SsangYong Motor has declared that it will pull out of the negotiations over the sale of SsangYong Motor.Mahindra & Mahindra reportedly halted its talks with HAAH Automotive of the United States about selling its stake in SsangYong Motor to
The management of SsangYong Motor told the labor union on Jan. 21 that it is difficult to pay some of the employees’ wages in January and February. The notice came one day before the start of the negotiations on the sale of the struggling company.SsangYong Motor receives parts from some of its suppl
Mahindra & Mahindra, HAAH Automotive Holdings and the Korea Development Bank (KDB) are failing to reach an agreement on whether Mahindra & Mahindra has to remain in SsangYong Motor as a shareholder. HAAH is a potential SsangYong acquirer and the KDB is the main creditor bank to SsangYong.The four si