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) will further increase the proportion of overseas investment with a higher share of global equities, according to its asset allocation plan for the 2017-2022 period. Global equities will make up around 25% by end-2022, versus&hellip
South Korea’s leading asset owners are planning to expand private debt investment this year in pursuit of medium risks and medium returns, setting their eyes on direct lending and mezzanine notes. In a recent poll of the country’s 20 institutional&hellip
Jae-Sang Kim, who had worked with National Pension Service’s (NPS) Chief Investment Officer Myoun-Wook Kang in asset management firms for several years, was appointed on May 24 to lead the global alternative investment division of the $500 billion pension fund. NPS&hellip