Kia Motors Corp.(KIMTF)- Grey Market
  • Sep. 18, 2014, 7:01 AM
    • Shares of Hyundai (OTC:HYMLF, OTC:HYMTF) fell as much as 10% overseas on news the Hyundai/Kia consortium won a ferocious bidding war for a $10B trophy HQ in Seoul’s upmarket Gangnam district.
    • Hyundai paid three times the appraised value for the 79K sqm plot; it plans to relocate the group’s headquarters there, and plans to build a hotel and a car theme park.
    • Analyst Ko Tae-bong summed up investor sentiment: "The bid price is excessive, which is incomprehensible to investors. Investors had expected Hyundai to use most of its surplus cash for constructive things such as raising dividends or R&D spending. But they are angry to see the group burn cash like this to buy a single property." (FT)
    • Kia Motors (OTC:KIMTF) was down 8% on the news.
    | Sep. 18, 2014, 7:01 AM
  • Jan. 2, 2014, 10:40 AM
    • The Korean won's strong performance over the last six months is leading a growing number of analysts to worry Samsung's (SSNLF, SSNGY) Q4 results will miss estimates.
    • The company's chip business is especially vulnerable to forex swings, since it relies on dollars for order settlement. BNP Paribas estimates every 1% change in the won/dollar exchange rate hurts the op. profit of Samsung's chip division by 4%.
    • Citing exchange rates and (to a lesser extent) margin pressure for Samsung's OLED display business, IBK Investment is now expecting the electronics/display/chip giant to post a Q4 op. profit of KWT9.5T ($9.04B), below a KWT10.3T Thomson Reuters consensus.
    • Korean automakers Hyundai (HYMLF -5.1%) and Kia (KIMTF -6.1%) also fell hard in Seoul overnight. South Korea's benchmark KOSPI index fell 2.2%.
    • Korean ETFs: EWY, FKO, KORU, KORZ, DXKW
    | Jan. 2, 2014, 10:40 AM | 1 Comment
Company Description
Currently, there's no company description for KIMTF.
Industry: Trucks & Other Vehicles
Country: Korea