[Korea goyounghun financial newspaper reporter] said Meritz Securities Investment Bank would need time to find the IB-related revenue as a giant, Samsung Securities business for 15 days.
4Q11 net profit at Samsung Securities fell 49.1% compared to 25.5 billion won was just before the quarter rose 15.0% year-on-year. This performance is lower than 35.0%, respectively merijeu Yang Securities estimates and consensus, 44.2%.
Meritz Investment Bank Securities Kim Go-Eun researchers "bond valuation losses occurred due to rising interest rates and ELS-related hedging costs are a major cause of performance decrement" and "honor severance pay about 90 billion to one-off factors and real estate disposal gains of about 20 billion won has occurred IB revenue rose to 12.3 billion won, "said diagnosis.
It was analyzed that because Samsung Bio-Logics, courses Mecca Korea and other large public companies performed Dill ECM (Equity Capital Markets) related to revenue generation was 5.9 billion won.
Kim researchers "had met the giant IB requirements with capital increase of the scale 350 billion won related income it takes time," he said "The WM competitive outstanding issue commercial paper sales issues, but need to invest more than 50% of the relevant funds in corporate finance and other large companies less than IB-related profit share, "he decided.
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Wednesday, February 15, 2017
Meritz Securities' Samsung Securities, super IB-related revenue visibility required time "
KB Kookmin Bank, 'KB Non stars (飛)' college volunteers ceremony
He said [Korea sinyuncheol financial newspaper reporter] KB Kookmin Bank (Bank yunjonggyu) over the past 14 days, held in the auditorium of the head office in Yeouido, 'KB Non stars (飛) tuium dream project "Students volunteer to participate in the ceremony the first half.
'KB Non stars (飛) tuium dream project' is an annual five billion won-scale customized training programs for low-income and multicultural families, youth support seven thousand students across the country. This time, 220 college students were selected volunteers will perform the role of a 'learning mentor' and 6 'multicultural mentoring, learning mentors months.
KB Kookmin Bank plans in 2007 came from supporting children and 2,439 had local children's center youth learning and cultural experience through "learning mentor" project with the Future Foundation, and since 2017 supporting additional scholarship support and career design, etc. to be.
In addition, the 'multicultural mentoring "project is to support the Hangul education and coursework to 250 multicultural families, young people annually now to 59 families, including support for country visits to 236 Multicultural Family Multicultural Family Youth domestic settlement and growth and helping. In particular, in 2017 to support the parents of bilingual learning improves self-esteem and plans to develop a global talent.
Day sinhongseop KB Kookmin Bank Group representative consumer brand strategy "different planting non KB Star (飛) future generations based on the talent and the passion with college student volunteers lead the youth to dream and hope," he encouraged.
High school KB Star rain dream tuium accept the scholarship amount songyujeong of the Foundation to act as volunteers in the 2017 university "I will do my best to give a warm powers beyond the relationship of learning mentors and mentees as received a lot of help." he said.
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Samsung Securities, unfavorable market earnings expectations hihoe - Shinhan
[Korea hyerin nine financial newspaper reporter] said Shinhan Investment is below expectations due to the unfavorable market performance for the fourth quarter of last year, Samsung Securities 15 days. This recommendation is made BUY, TP remains 4 million.
4Q11 consolidated earnings at Samsung Securities has posted an operating profit of 16.1 billion won (-75.4% QoQ, -47.4% YoY), (governance), net 25.5 billion won (-49.1% QoQ, + 15.0% YoY). This was below our estimate (net 41.1 billion won) and consensus (458 billion) in annualized ROE 2.8%.
Researchers at Shinhan Investment hands image was evaluated and, if listed, such as the Samsung Bio-Logics, except that the IB (corporate finance) revenue surged been sluggish performance in all sectors.
Hand researchers that reason, priority market trading bonds losses and ELS (securitized derivatives) proprietary trading to hedge operating losses due to interest rate surge was commission income decreased by 11.5%, while decreasing 9.9% in the previous quarter (trading) income deficit the width has been expanded, he said.
In addition, the "honorary severance pay 8.8 billion won due to the end of regular voluntary retirement (50 persons) conducted also took place in the one-off costs, cod Building disposal gains (about 200 million) was not enough to offset the poor performance dwaeteuna is recognized as non-operating income ' he said.
Followed by hands researchers 'Retail client assets were at the end of 2016, Samsung Securities 7.4% decrease compared to the previous year end to 161.1 trillion' recent global stock market uncertainty to expand asset management (WM) look a little sluggish market, said, she said.
He added, "The outlook for 2079 one hundred million won this year's expected net income, ROE 5.1% 'said Samsung Securities will inevitably be a high proportion competitors WM IB revenue income ratio decreased more sensitive to the WM market slump'.
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Also extend beyond territorial spiral jeongyugyeong 'Jewelry' market watch
[Korea gimeunji financial newspaper reporter - Executive Vice President jeongyugyeong Shinsegae Department Store is followed by cosmetics manufacturers to launch jewelery brands and embarked on subsequent business expansion. Following the Executive Vice President to forward spearheaded conducted by cosmetics business began in earnest two months six days, Shinsegae Department Store has launched the industry's first diamond center Luxury Wedding Jewelry brand "Le Adige.
The department released a its own jewelery brand and this is the first time, the brand name "Le Adi 'derives from the ancient Hebrew which means exalted presence, beautiful ties.
Executive Vice President Chung is launching a brand cashmere della Lana before September and December has seen a sustained move serves to launch own-brand cosmetics shop in editing Le Classico.
It is Executive Vice President Chung conducts the whole process to 'Le Adi' product planning and design, as well as the purchase of rough diamonds from the production, sales and branding.
Including the completion of rough diamonds diamond rings, necklaces, earrings, etc. 200 kinds of products ready for 'Le Adi "is scheduled to open later this month alone store after another 16 days in Daegu new world, Shinsegae Gangnam 17 days.
Sonmunguk Shinsegae Department Store Products Division is "larger, composite wind was showcasing the 'Adi Le' to differentiate the nature of 'products' of the department up to the strong retail industry," he said, "especially cashmere brand last year, the New World made' della Lana" Following a thorough he said Customisable brand New World tailored to the needs of customers seeking quality and reasonableness of price. "
There is also jewelery market continues to show a growth reveals a view of the 'Adi Le. Domestic jewelery market has grown also appear to be April 1 trillion in size from the 5 W100bn 2010 to 6 trillion won last year increased recently more than 30% 6 nyeonsae appearance.
The target audience of "Le Adi 'Executive Vice President Jung introduced the many-to-many 20-30 ahead of the wedding.
Shinsegae Department Store was noted that the country is falling, but honinyul jimyeonseo the selection and concentration noticeable for offering key items such as diamond rings are steadily increasing demand.
According to Shinsegae its Annual Luxury Jewelry elongation is continued high growth year after year, including record 44.8% up days from the 9.6% in 2014 year by 19.7% by 2015, in 21.4% 2016 and February from January 1 this year, 12 .
Adi flowing around the same site holders and foreign luxury jewelry brand that is loved around the world (ore supply dealer) from directly receiving diamonds only handling, the most prestigious sentiment globally agency GIA (Gemological Institute of America, the United States jewelry emotions Council) certificate as it increases trust.
In particular, in addition to the domestic many brands are 0.2 kt or less small decorative Meli (melee) certification that the diamond even diamond gambyeolseo a GIA certificate to all products surrounding the main diamond though Adi LE 0.2 kt, as well as not providing gambyeolseo of the New World only It provides an additional certificate.
The Executive Vice President Chung has recently completed a game in Osan factory started to produce the products ordered from the cosmetic company in Korea, the US, the UK, and will also produce its own brand of cosmetics products, some of the video Beach of Shinsegae International.
Beauty entered the field of information is Executive Vice President dwaeteumyeo begins with the acquisition of video Beach brand in 2012 led to the launch of the New World Inter last May the course of the Korea Osan plant construction, cosmetics edited in December Le Classico Shop.
Inter-Korea Shinsegae course is an end-2015 Shinsegae International and Italian cosmetics manufacturer Inter Course cosmetics ODM (manufacturers developed production) · OEM (Original Equipment attached to production) company with a stake in the joint venture 50 50.
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Hanwha Securities "Korea Gas Corporation expects, overseas resources development to improve profitability."
[Korea goyounghun financial newspaper reporter] had raised the target price on Hanwha Securities 15 days overseas resources development projects are expected to improve profitability doendamyeo opinions investment in the Korea Gas Corporation 'BUY' to 6 million.
Hanwha Securities Jun Gi researchers "have not only a quarterly basis reflect the impairment sustained in overseas resource development projects is also an annual basis recorded a net loss" "but gotta years to improve overseas business profitability in 2017 will increase profits with rates adjusted He diagnosed would. "
Korea Gas Corporation in the fourth quarter of 2016 revenues decreased by 4.7% YoY to 6.2 trillion won, operating profit of 219.7 billion won posted a decline of 9.0% YoY.
New Researcher "Wolsong the plant operating sales volume by delays, but increased sales by selling price declines fell, fell short of the taxes added pay and ordinary consensus, this margin to rising labor costs due to wage litigation gotta deteriorating operating profit market 315.8 billion won "and" Australia GLNG 4204 billion, 333.5 billion won in Iraq Oh Cass overseas projects in poor suffered impairment to reflect the net loss was 780.7 billion won a record, "he said analyzes.
He said, "while handling damage the 2016 international non-performing assets, the expected depreciation savings of 200 billion won a year" and "Australia GLNG projects break-even point if oil prices maintain the $ 50 level and production to achieve the target level the installation is expected to fall, "he decided.
Following "an increase in operating profit margins and adjust basal rates of overseas resources development projects is still enough upside potential," he predicted.
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