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Annual Report and Financial Statements
Annual Report and Financial Statements for the year ended 31 December 2018 Dimensional Funds ICVC Authorised by the Financial Conduct Authority No marketing notification has been submitted in Germany for the following Funds of Dimensional Funds ICVC: Global Short-Dated Bond Fund International Core Equity Fund International Value Fund United Kingdom Core Equity Fund United Kingdom Small Companies Fund United Kingdom Value Fund Accordingly, these Funds must not be publicly marketed in Germany. Table of Contents Dimensional Funds ICVC General Information* 2 Investment Objectives and Policies* 3 Authorised Corporate Directors’ Investment Report* 6 Incorporation and Share Capital* 10 The Funds 10 Fund Cross-Holdings 10 Authorised Status* 10 Regulatory Disclosure* 10 Potential Implications of Brexit* 10 Responsibilities of the Authorised Corporate Director 11 Responsibilities of the Depositary 11 Report of the Depositary to the Shareholders 11 Directors' Statement 11 Independent Auditors’ Report to the Shareholders of Dimensional Funds ICVC 12 The Annual Report and Financial Statements for each of the below sub-funds (the “Funds”); Emerging Markets Core Equity Fund Global Short-Dated Bond Fund International Core Equity Fund International Value Fund United Kingdom Core Equity Fund United Kingdom Small Companies Fund United Kingdom Value Fund are set out in the following order: Fund Information 14 Portfolio Statement* 31 Statement of Total Return 149 Statement of Change in Net Assets Attributable to Shareholders 149 Balance Sheet 150 Notes to the Financial Statements 151 Distribution Tables 168 Remuneration Disclosures (unaudited)* 177 Supplemental Information (unaudited) 178 * These collectively comprise the Authorised Corporate Directors’ (“ACD”) Report. Dimensional Fund Advisors Ltd. Annual Report and Financial Statements, 31 December 2018 1 Dimensional Funds ICVC General Information Authorised Corporate Director (the “ACD”): Dimensional Fund Advisors Ltd. -
Cj Enm(035760
August 9, 2018 Result Comment CJ ENM (035760 KS) Decent performance 2Q consolidated operating profit in line at W79.2bn BUY (re-initiate) 3Q consolidated operating profit estimated at W86bn; earnings to stay solid Price (Aug. 8) W236,200 Target Price W270,000 Re-initiate coverage on CJ ENM with a BUY rating and a target price of % variance 14.3% W270,000 HeeJin Park ☎ (82-2) 3772-1562 2Q consolidated operating profit in line at W79.2bn [email protected] CJ ENM posted its first results after the merger on July 1. Consolidated operating profit came in at W79.2bn in 2Q, meeting our forecast of W79.3bn. SeJong Hong ☎ (82-2) 3772-1584 The E&M division delivered solid earnings with sales up 9.2% YoY and operating [email protected] profit up 25% YoY. Broadcasting exceeded expectations with operating profit increasing 22% YoY to W29.2bn. Ad sales growth of 10.2 YoY also turned out better than expected. Music and cinema showed mixed results. The music division KOSPI 2,301.45p posted sales of W66.5bn (+41.1% YoY) and operating profit of W4.2bn (+114% KOSDAQ 783.81p YoY) on strengthening IP (intellectual property) business. By contrast, the Market Cap. W5,179.0bn/ US4,543.0mn cinema/performance division remained in the red with an operating loss of Par Value W5,000 W3.9bn due to stagnant growth of moviegoers and weak line-up. The commerce division (CJ O shopping) registered standalone operating profit of W40.3bn and Outstanding Shares 21.9mn consolidated W33.9bn. -
Hotel Shilla Buy (008770 KS) (Maintain)
[Korea] Travel Retail Hotel Shilla Buy (008770 KS) (Maintain) Additional negatives to be limited TP: W100,000 Upside: 42.2% Mirae Asset Daewoo Co., Ltd. Myoungjoo Kim [email protected] Minjeong Kyeong [email protected] 2Q20 review Larger-than-expected operating loss For 2Q20, Hotel Shilla reported consolidated revenue of W523bn (-61.4% YoY) and an operating loss of W63.4bn (turn to loss YoY). The operating loss was larger than the market expectation. The weak results were attributable to: 1) disappointing sales of unsold duty-free inventory to third parties overseas; and 2) increased commission fees following a recovery in small daigou. A QoQ rise in the discount rate given to large-scale daigou also contributed to the weak results. Additional negatives to be Despite lingering uncertainties, additional negatives to be limited limited Hotel Shilla suffered a significant operating loss for the second straight quarter despite sharp rent cuts (W56bn; about four months’ worth) at Incheon International Airport (IIA). Store traffic failed to recover amid the lingering impact of COVID-19. Due to the prolonged effects of the pandemic, uncertainty still surrounds the recovery outlook. That said, we believe additional negatives beyond COVID-19 are limited. Despite the pandemic, sales to daigou are proving resilient, showing that demand for Korean cosmetics and duty-free channels remains solid. Accumulate on weakness Maintain Buy and TP of W100,000 We see no additional negatives aside from COVID-19. Hotel Shilla’s stock is trading at a 2021F P/E of 16.0x. Valuation does not look demanding, assuming a normalization in business conditions in 2021. -
Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT -
Potential Partners
INVESTMENT OPPORTUNITIES IN KOREA PotentialIndustry Partners Trends List of Related Companies Company name Major items Website Location Sugar, processed meat, instant CJ Cheiljedang www.cj.co.kr Seoul Potential foods, etc. Lotte Chilsung Beverage company.lottechilsung.co.kr Seoul Beverage Starch, sauce, processed meat, Daesang www.daesang.co.kr Seoul Partners etc. Instant noodles, processed Ottogi www.ottogi.co.kr Gyeonggi-do seafood, etc. Noodles including instant noodles Nongshim www.nongshim.com Seoul and macaroni Lotte Foods Lotte Foods www.lottefoods.co.kr Seoul Paris Croissant Bakery production www.pariscroissant.co.kr Gyeonggi-do Oriental Brewery Production of malt and beer www.ob.co.kr Seoul Company Seoul Dairy Production of liquid milk and other www.seoulmilk.co.kr Seoul Cooperative dairy products Samyang Sugar, flour, etc. www.samyangcorp.com Seoul Alcoholic beverages including soju Hite Jinro www.hitejinro.com Seoul and beer Processed seafood, dairy Dongwon F&B www.dongwonfnb.com Seoul products, etc. Lotte Confectionery Cookies, cocoa products, etc. www.lotteconf.co.kr Seoul Dongsuh Foods Coffee processing www.dongsuh.co.kr Seoul Korea Ginseng Production of ginseng products www.kgc.co.kr Daejeon Corp. Dairy products, coffee products, Maeil Dairies www.maeil.com Seoul etc. Coca-Cola Production of other nonalcoholic Gyeongsang www.ccbk.co.kr Beverage Company beverages nam-do INVESTMENT OPPORTUNITIES IN KOREA PotentialIndustry Partners Trends Company name Major items Website Location Related Associations Nonghyup Feed Production of feed formula www.nonghyupsaryo.co.kr Seoul Name of association Website Main roles Dongwon Home Production of natural and multi- www.dwhf.co.kr Seoul Food compound seasonings Information on the food industry, training on Korea Foods Industry www.kfia.or.kr food safety, support for the development of TS Corporation Sugar www.ts.co.kr Incheon Association government policies, export support, etc. -
2014 ESG Integrated Ratings of Public Companies in Korea
2014 ESG Integrated Ratings of public companies in Korea Korea Corporate Governance Service(KCGS) annouced 2014 ESG ratings for public companies in Korea on Aug 13. With the ESG ratings, investors may figure out the level of ESG risks that companies face and use them in making investment decision. KCGS provides four ratings for each company which consist of Environmental, Social, Governance and Integrated rating. ESG ratings by KCGS are graded into seven levels: S, A+, A, B+, B, C, D. 'S' rating means that a company has all the system and practices that the code of best practices requires and there hardly exists a possibility of damaging shareholder value due to ESG risks. 'D' rating means that there is a high possibility of damaging shareholder value due to ESG risks. Company ESG Integrated Company Name Code Rating 010950 S-Oil Corporation A+ 009150 Samsung Electro-Mechanics Co., Ltd. A+ 000150 DOOSAN CORPORATION A 000210 Daelim Industrial Co., Ltd. A 000810 Samsung Fire & Marine Insurance Co., Ltd. A 001300 Cheil Industries Inc. A 001450 Hyundai Marine&Fire Insurance Co., Ltd. A 005490 POSCO. A 006360 GS Engineering & Construction Corp. A 006400 SAMSUNG SDI Co., Ltd. A 010620 Hyundai Mipo Dockyard Co., Ltd. A 011070 LG Innotek Co., Ltd. A 011170 LOTTE CHEMICAL CORPORATION A 011790 SKC Co., Ltd. A 012330 HYUNDAI MOBIS A 012450 Samsung Techwin Co., Ltd. A 023530 Lotte Shopping Co., Ltd. A 028050 Samsung Engineering Co., Ltd. (SECL) A 033780 KT&G Corporation A 034020 Doosan Heavy Industries & Construction Co., Ltd. A 034220 LG Display Co., Ltd. -
Posco International Corporation
POSCO INTERNATIONAL CORPORATION Sustainability Report 2019 About This Report The 2019 POSCO INTERNATIONAL Sustainability Report, the forth annual publication, illustrate the Company’s performance fulfill- ing its economic, social, and environmental responsibility. POSCO INTERNATIONAL aims to transparently disclose its sustainability management activities for the year 2019 and communicate with wide-ranging stakeholders. Reporting Guidelines Global Reporting Initiative(GRI) Standards: Core Option Reporting Period January 1, 2019 ~ December 31, 2019 * 2017 ~ H1 of 2020 for a portion of the performance data Reporting Scope Economy: On a consolidated basis in accordance with the K-IFRS 〮 Society & Environment: POSCO INTERNATIONAL Headquarters, 〮 POSCO SPS1), and overseas worksites (Myanmar, Indonesia, and Uzbekistan) Areas where major operations are based: Republic of Korea 〮 1) This refers to the STS Division, the TMC Division and the Plate Fabrication Division that were split off as subsidiaries in April 2020. Reporting Cycle Annually(publication of the most recent report: 2019) Assurance Financial data: Earnst & Young Han Young 〮 Non-financial data: DNV GL 〮 Contact Details Address: 165 Convensia-daero(POSCO Tower-Songdo), Yeonsu-gu, Incheon, Republic of Korea Tel: +82-2-759-2861 Department in charge: Sustainability Management Section E-mail: [email protected] POSCO INTERNATIONAL CORPORATION Sustainability Report 2019 03 Global CSR Activities 01 We Make Sustainability 02 Sustainability Management Strategy 102 Global CSR Overview -
Rps Horeca.Pdf
SAMBONET PADERNO INDUSTRIE S.P.A. 2 COMPANY PROFILE HOTEL SAMBONET PADERNO INDUSTRIE S.P.A. FACTORY ENG ITA The company based in Orfengo, between Novara and Con sede ad Orfengo tra Novara e Vercelli, è il Gruppo Vercelli, is a leading Italian manufacturer of top quality italiano leader nella produzione di articoli di design di designer items for the tabletop and kitchen, both for alta qualità per la tavola e la cucina, destinati sia al the home as well as for the catering sector. Sambonet settore home sia al canale Ho.re.ca. Paderno Industrie S.p.A. was established in 1997 Sambonet Paderno Industrie S.p.A. nasce nel 1997 following the purchase of Sambonet by Paderno and in seguito all’acquisizione di Sambonet da parte di merging. Sambonet has always been very dynamic in Paderno. the pursuit of modernity for its products. Sambonet ha dimostrato negli anni una decisa The work of Roberto Sambonet - a key designer at aspirazione verso la modernità che si esplica con Sambonet from the ‘50s through the ‘80s - is a valuable l’attività di Roberto Sambonet, designer dell’azienda testimony to this undertaking. Through the design and dagli anni ‘50 alla fine degli anni ‘80. Per questo la functionality of our products; our company’s ability to ricerca dello stile, della forma, della funzionalità e adapt to new lifestyles has always been the key to l’adattamento ai nuovi stili di vita è sempre stata our market identification. In order to accomplish this imprescindibile dalla ricerca del riconoscimento del Design-Industry-Market synergy, we have established mercato. -
Holdings-Report.Pdf
The Fund is a closed-end exchange traded management Investment company. This material is presented only to provide information and is not intended for trading purposes. Closed-end funds, unlike open-end funds are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. Changes to investment policies, current management fees, and other matters of interest to investors may be found in each closed-end fund's most recent report to shareholders. Holdings are subject to change daily. PORTFOLIO HOLDINGS FOR THE KOREA FUND as of July 31, 2021 *Note: Cash (including for these purposes cash equivalents) is not included. Security Description Shares/Par Value Base Market Value (USD) Percent of Base Market Value SAMSUNG ELECTRONICS CO 793,950 54,183,938.27 20.99 SK HYNIX INC COMMON 197,500 19,316,452.95 7.48 NAVER CORP COMMON STOCK 37,800 14,245,859.60 5.52 LG CHEM LTD COMMON STOCK 15,450 11,309,628.34 4.38 HANA FINANCIAL GROUP INC 225,900 8,533,236.25 3.31 SK INNOVATION CO LTD 38,200 8,402,173.44 3.26 KIA CORP COMMON STOCK 107,000 7,776,744.19 3.01 HYUNDAI MOBIS CO LTD 26,450 6,128,167.79 2.37 HYUNDAI MOTOR CO 66,700 6,030,688.98 2.34 NCSOFT CORP COMMON STOCK 8,100 5,802,564.66 2.25 SAMSUNG BIOLOGICS CO LTD 7,230 5,594,175.18 2.17 KB FINANCIAL GROUP INC 123,000 5,485,677.03 2.13 KAKAO CORP COMMON STOCK 42,700 5,456,987.61 2.11 HUGEL INC COMMON STOCK 24,900 5,169,415.34 2.00 SAMSUNG 29,900 4,990,915.02 1.93 SK TELECOM CO LTD COMMON 17,500 4,579,439.25 1.77 KOREA INVESTMENT 53,100 4,427,115.84 -
Bobcat S70 Operator Manual
EN Operation & Maintenance Manual S70 Skid-Steer Loader S/N A3W711001 & Above EQUIPPED WITH BOBCAT INTERLOCK CONTROL SYSTEM (BICS™) 6986660-EN (11-10) Revised (11-11) (6) Printed in Belgium © Bobcat Company 2011 Original Instructions OPERATOR SAFETY WARNINGS CORRECT Operator must have instructions before operating the machine. WARNING Untrained operators can cause injury or death. W-2001-0502 Safety Alert Symbol: This symbol with a warning statement, P-90216 means: “Warning, be alert! Your safety is involved!” Carefully read the message Never use the loader without instructions. See machine signs that follows. (decals), Operation & Maintenance Manual, and Operator’s Handbook. CORRECT CORRECT WRONG B-7403 B-6582 B-13418 Always use the seat bar and fasten Never use loader without operator Never use loader as man lift or seat belt snugly. cab with ROPS and FOPS approval. elevating device for personnel. Always keep feet on the foot pedals or Fasten your seat belt. footrests when operating loader. WRONG WRONG WRONG B-6578 B-6585 B-6595 Do not use loader in atmosphere Never carry riders. Always carry bucket or with explosive dust, explosive gas, attachments as low as possible. or where exhaust can contact Keep bystanders away from work Do not travel or turn with lift arms flammable material. area. up. Load, unload, and turn on flat level ground. WRONG WRONG WRONG B-6587 B-6594 B-6591 Never exceed Rated Operating Never leave loader with engine Never modify equipment. Capacity. running or with lift arms up. To park, engage parking brake and Use only attachments approved by put attachment flat on the ground. -
Korea Morning Focus
December 23, 2019 Korea Morning Focus No English report summaries this morning Major Indices Close Chg Chg (%) KOSPI 2,204.18 7.62 0.35 KOSPI 200 295.31 1.00 0.34 KOSDAQ 649.73 1.88 0.29 Turnover ('000 shares, Wbn) Volume Value KOSPI 637,639 5,021 KOSPI 200 75,360 3,446 KOSDAQ 929,806 4,198 Market Cap (Wbn) Value KOSPI 1,481,267 KOSDAQ 234,817 KOSPI Turnover (Wbn) Buy Sell Net Foreign 2,004 1,848 156 Institutional 986 847 139 Retail 1,961 2,283 -322 KOSDAQ Turnover (Wbn) Buy Sell Net Foreign 518 418 100 Institutional 172 164 8 Retail 3,484 3,568 -84 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,813 1,611 203 KOSDAQ 485 406 79 Advances & Declines Advances Declines Unchanged KOSPI 437 366 105 KOSDAQ 609 601 134 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 56,000 0 676 Hynix 95,000 1,400 263 KODEX Leverage 14,145 65 183 Jooyon 804 31 161 KODEX Kosdaq150 8,005 85 150 Leverage KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value HLB 102,200 3,300 205 Energy Solutions 25,850 2,750 170 BRIDGE 54,300 -8,100 140 BIOTHERAPEUTICS SyntekaBio 15,100 650 113 ESA 2,060 -635 103 Note: As of December 20, 2019 This document is a summary of a report prepared by Mirae Asset Daewoo Co., Ltd. (“Mirae Asset Daewoo”) and published on our website. -
Interbrand-Best-Korean-Brands-2015
Contents 02 Introduction 04 The future of business is personal 06 The Age of You: key questions answered 10 Best Korea Brands 2015 Top50 46 Best Korea Brands 2015 Analysis 54 Authors & Contributors 1 engage customers and generate genuine result, each of us will become our own 2015 will provide the insights you need value for the business. marketplace or “Mecosystem.” to drive your organization forward—and Introduction new inspiration to push creative thought The need to create brand experiences In our report, Jez Frampton, Global CEO Jihun Moon and innovation in these changing times. that are seamless and more holistic has of Interbrand, will elaborate on this new been precipitated by sector convergence era, which we at Interbrand refer to as Congratulations to all of Korea’s Best The origin of the term “branding” was and the rise of Big Data. Harnessing the the “Age of You”—the move from brand Global Brands—in particular those whose lit¬erally to burn one’s name onto prop- potential of Big Data isn’t just for tech as monologue, to brand as dialogue, leadership skills have earned them a erty as a crude mark of ownership. But companies anymore—it offers huge to brand as a communal experience, to place among the nation’s top brands. it’s only in our relatively recent history opportunities for all brands. By collecting brand as a truly personal and curated ex- that branding has become recognized as To your continued success, and analyzing customer data and honing perience created around each and every a business discipline.