Finance
Under Review: Korean Shipbuilders
South Korean creditor banks are in the process of reviewing 19 shipbuilding companies to see whether they are viable businesses or are candidates for restructuring or possible liquidation, an official at the Korea Federation of Banks said last week. ...
2009-01-10 17:41:15
Hanwha walks away: $5bn DSME deal
The roughly $5 billion sale of South Korea's Daewoo Shipbuilding to Hanwha Group is likely to fall apart on funding worries despite government efforts to save the deal, sources familiar with the matter say. Hanwha hoped to sell assets and raise mo...
2009-01-10 17:32:40
POSCO’s 2nd Chance for Daewoo?
Hanwha’s Bid Foundering on Inability to Fund Mega Deal It seems increasingly likely that the Hanwha Group may have taken too big a bite to chew in its bidding for Daewoo Shipbuilding & Marine Engineering. Whether that means steel giant POSCO is...
2009-01-09 09:29:21
Sell assets or give up DSME
Korea Development Bank yesterday sent an ultimatum to Hanwha Group, the preferred bidder for Daewoo Shipbuilding & Marine Engineering Co., to stick to the original payment schedule or give up acquiring the shipyard. Min Euoo-sung, chief executive...
2009-01-09 09:25:10
Samsung Q4 profits below consensus
Samsung Heavy Industries’ earnings in the fourth quarter of 2008 would fall short of estimates, forecast HI Investment & Securities, a financial investment firm. But it expected the world’s second largest shipbuilder’s 2008 sales and profits...
2009-01-09 06:21:12
KDB gives ultimatum on Hanwha: DSME sale
The main creditor of Daewoo Shipbuilding & Marine Engineering threatened Thursday to scrap a deal to sell the shipyard to Hanwha Group unless the conglomerate sticks to the Jan. 30 deadline to finalize the contract, local news reported. The state-...
2009-01-08 13:57:22
Wave of restructuring: S & M shipyards in Korea
Small shipbuilders face scrutiny A total of 19 Shipbuilders will be put under the microscope in the first round of restructuring, according to the local financial watchdog in korea yesterday. Decisions about which companies will have to undergo dr...
2009-01-08 08:15:45
DSME leads shipyard gains on earnings optimism
Daewoo Shipbuilding & Marine Engineering, the world’s third-largest shipyard, surged to the highest level in three months in Seoul trading on expectations of improved earnings this year. DSME climbed as much as the 15 percent daily limit to 23,100 ...
2009-01-08 07:05:02
Targets of restructuring: 19 shipyards
Within this month, the companies might be decided which will face restructuring among the 19 small- and medium-sized shipbuilders in the first round of restructuring, in South Korea. But there exists dispute over evaluation standards and adjustment o...
2009-01-08 05:48:10
Bharati takes holding in Great Offshore
Indian shipbuilder Bharati Shipyard has taken its holding in domestic owner Great Offshore to within a whisker of the 15% which would trigger an offer for a further 20% of the company. The DNA daily said controlling shareholders of the offshore vesse...
2009-01-07 07:59:51
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