I have no idea if the articles noted below can be accessed by people without C accounts:
Korea Investment Daily
Tuesday, 29 April 2008
? Korea Non-life Insurance: 4Q Preview — We expect Korea non-life insurance
sector's 4Q FY08 earnings to come in at W267.4bn (-18.9% qoq, -17.3% yoy),
as better-than- expected underwriting profitability from auto and long-term
lines was offset by CDO write-downs. Stan S Lee, +82-2-3705-0727
citigroupgeo.com
? Samsung Engineering (028050.KS): Buy: 1Q08 Results Review — The
company reported 1Q earnings which were lower than our forecast. Sales and
OP were lower than our estimates by 2.4% and 26.2% mainly due to lagged
payment to subcontractors and delayed sales recognition in 1Q. Brian Cho,
+82-2-3705-0767 citigroupgeo.com
? Doosan Construction & Engineering (011160.KS): Buy: 1Q08 Results - Lower
Than Our Expectation — Doosan Construction reported 1Q earnings; sales and
OP increased 8.1% YoY and 15% YoY. However, OP growth fell short of CIR's
forecast 37.5% YoY and consensus forecast 23.3% YoY. Brian Cho, +82-2-
3705-0767 citigroupgeo.com
? Hyundai Development (012630.KS): Hold: 1Q08 Result Review — The
company reported 1Q08 earnings which were lower than our estimate. OP
fell short of 10.6% and 21% by CIR and market consensus. However, sales
were in line with CIR. Brian Cho, +82-2-3705-0767
citigroupgeo.com
? Hyundai Heavy Industries (009540.KS): Buy: 1Q08 - More than a Surprise
— HHI reported W4,354bn revenue in 1Q08, up 18.4% YoY led by strong
growth in construction equipments (66% YoY), industrial plants (23% YoY),
electro electric units (19% YoY) and shipbuilding (16% YoY). Sokje Lee
+82-2-3705-0768 citigroupgeo.com
? Kia Motors (000270.KS): Hold: 1Q08 Results - Secured Buffer for a
Rebound — Kia reported another positive operating profit at W102bn and
reported 2.7% OP margin. Won appreciated by 2.3% QoQ against USD and
17.9% QoQ against Euro. Sokje Lee +82-2-3705-0768
citigroupgeo.com
? Hyundai Department Store (069960.KS): Buy: 1Q08 Review - Better Than
Expectations — NP of W56bn (+19% yoy, Citi: W41bn) came above
expectation mainly on higher operating margins and higher equity method
gain. Ally Park +82-2-3705-0722
citigroupgeo.com
? Hanarotelecom (033630.KQ): Sell: Searching for the Bottom — Quarterly
revenue of W493bn was up by 0.9% QoQ and 9.3% YoY based on the strong
performance of overall businesses including voice and broadband. Charles
Uhm +82-2-3705-0748 citigroupgeo.com
? Cheil Industries (001300.KS): 1Q08 Review: Earnings Improvement Right on
Track — Cheil's 1Q08 earnings beat our estimates as well as consensus as
OP came in at W55.7bn (vs. CIR est of W43.8bn, consensus of W48.5bn)
15.2% down QoQ, but 84.4% up YoY. Jonathan Rhee +82-2-3705-0746
citigroupgeo.com
? Korean Shipbuilding Industries - Strong Rebound of New Orders in April —
MTD new orders reached 13.7mn DWT, 41% up from one month orders in
March at 9.7mn DWT. Sokje Lee +82-2-3705-0768
citigroupgeo.com
? Digitech Systems (091690.KQ): Buy: 1Q08 Review - CEO Guides Upbeat
Outlook — Digitech Systems' 1Q08 OP of W3.6bn (+188% YoY, -28% QoQ)
met the consensus of W3.5bn and beat our estimate of W3.3bn. Jonathan
Rhee +82-2-3705-0746 citigroupgeo.com
[end copy/paste]
Yesterday I posted sections from the Hyundai Heavy Industries and Korean Shipbuilding Industries reports on the Shipbuilders and shipyards thread.
Lynn |
