Concerns have been raised that the last 'duty-free' burden of Hanwha Chemical [hyomun financial newspaper reporters standing in Korea. A subsidiary of Hanwha Galleria Duty Free deficit march because the high potential additional financial support.
Hanwha Chemical, Hanwha Galleria participated in the capital increase of the last 10 days. Scale participation shares is 4,000,000 shares, the amount of 2000 billion. Through this capital increase, Hanwha Galleria is expected to mitigate the temporary financial structure degradation level.
The problem is that for some time has led Duty deficit Hanwha Galleria, scheduled for the investment Gwanggyo store openings further support the possibility of Hanwha Chemical is raised.
According to the subsidiary Hanwha Galleria-Time World Duty Free, which is engaged in the business of Hanwha Group Duty Free business began last operating losses from 2015. Duty-free business which recorded an operating profit of over 134,320,000 won in 2014, was expanded significantly in loss recorded an operating loss of 14.3 billion won last year 2015. Hanwha Galleria-Time World Duty Free business last year showed an operating loss of 43.9 billion won. This is a numerical value is 207% (296 million) losses enlarged over the previous year. In other words, becoming the department store business is inevitable support of Hanwha Chemical's parent company soared last year, duty-free shops in the deficit situation, which offset the weak performance of duty-free shops.
The future investment of the notice Hanwha Galleria also can raise the burden of Hanwha Chemical. Capital increase carried out in the last 10 days was carried out on the construction funding level of Gwanggyo Hanwha Galleria Department Store. But the situation is expected that the deficit in the duty-free business can be achieved, additional financial support in the context of growing more than two times out.
Times because of Korea Ratings Rating 4 Room, senior researcher in excess of "Hanwha Galleria is financial, but to investors looking for try to enforce an investment due to the capital increase of Hanwha mogeurup Chemical plans to switch to its own business," said "rights issue price investment amount is expected to cover first in Haeundae proceeds from the sale of land 100 billion won, "he said.
He added, "amounts that this capital increase funds flowing into the Hanwha Galleria subsidiary Hanwha Galleria-Time World has been identified as not" "But duty-free business, additional paid-in capital increase supports the possibility of Hanwha amid continuing to decline is still "he added.
Daily Economic News Finance FNTIMES - commercial reprint, copy, distribute prohibited purposes under the Copyright Act
Copyright ⓒ Korea's Financial News & FNTIMES.com
