This is a result of its strong effort to reorganize its business structure, among others, the acquisition of Cape Investment & Securities (formerly LIG Investment & Securities). Cape is also looking for another M&A opportunities.
According to industry sources on March 13, Cape Industries posted consolidated sales of 122.1 billion won last year, up 532.6 percent from a year ago. Its operating profit amounted to 6.1 billion won last year, a turnaround after three years of losses.
Its financial performance greatly improved last year thanks to the incorporation of Cape Investment & Securities as its subsidiary. Cape Investment recorded a net profit of 11.7 billion won last year, up 41.2 percent year on year. At present, Cape runs a total of nine subsidiaries, including a social casino game firm Socialinus.
The National Pension Service (NPS) has begun running an emergency inspection system for its investment management department with the appointment of acting chief investment officer and global alternative investment head, the South Korean pension fund said on July 25. In-Sik&hellip
South Korean asset managers are joining hands with French property investment firms to buy prime commercial buildings in the Netherlands and Belgium as they are turning eyes to the Benelux region for higher returns, sending their real estate values to&hellip
Blackstone, Kuwait Investment Authority (KIA) and three property investment firms are vying for Sony Center in Berlin which South Korea’s National Pension Service (NPS) has put on the block in a transaction expected to fetch around €1.1 billion ($1.3 billion),&hellip