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Korea Automobiles and Components Sector
Korea Consumer Discretionary 23 June 2016 Korea Automobiles and Components Sector Electric vehicles and smart cars: reinventing the wheel Apple and Tesla’s aggressive moves towards EVs and smart cars herald a new era and should give parts makers’ shares a leg up We revise up our EV and smart-car forecasts on more stringent regulations, government support and falling component prices Sung Yop Chung Mando and Hanon (both Buys [1]) are our top picks; we also like HMC (82) 2 787 9157 (Buy [1]) on a 6-month view [email protected] See important disclosures, including any required research certifications, beginning on page 134 Korea Automobiles and Components Sector: 23 June 2016 Table of contents EVs and smart cars: changing the landscape ....................................................... 7 Reality check: what are the obstacles? ................................................................ 13 Our forecasts for EVs and smart cars: what’s new ............................................. 18 Electric vehicles: strong drivers ahead ................................................................ 22 Smart cars: faster-than-expected growth should provide impetus .................... 32 EVs and smart cars: auto and ICT parts makers to lead the pack ..................... 46 Valuations and recommendations ........................................................................ 56 Appendix ................................................................................................................. 69 Company Section Mando Corp .................................................................................................................. -
IN the UNITED STATES BANKRUPTCY COURT for the EASTERN DISTRICT of VIRGINIA RICHMOND DIVISION in Re: ALPHA MEDIA HOLDINGS LLC, Et
Case 21-30209-KRH Doc 135 Filed 02/12/21 Entered 02/12/21 11:20:27 Desc Main Document Page 1 of 152 IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA RICHMOND DIVISION ) In re: ) Chapter 11 ) ALPHA MEDIA HOLDINGS LLC, et al.,1 ) Case No. 21-30209 (KRH) ) Debtors. ) (Jointly Administered) CERTIFICATE OF SERVICE I, Julian A. Del Toro, depose and say that I am employed by Stretto, the claims and noticing agent for the Debtors in the above-captioned cases. On February 4, 2021, at my direction and under my supervision, employees of Stretto caused the following documents to be served via first-class mail on the service list attached hereto as Exhibit A, and via electronic mail on the service list attached hereto as Exhibit B: • Notice of Additional Omnibus Hearings (Docket No. 91) • Motion for Entry of an Order (I) Approving the Adequacy of the Disclosure Statement, (II) Approving the Solicitation and Notice Procedures with Respect to the Confirmation of the Debtors’ Proposed Joint Chapter 11 Plan, (III) Approving the Forms of Ballots and Notices in Connection Therewith, (IV) Scheduling Certain Dates with Respect Thereto, and (V) Granting Related Relief (Docket No. 94) • Notice of Motion and Notice of Hearing (Docket No. 95) Furthermore, on February 4, 2021, at my direction and under my supervision, employees of Stretto caused the following document to be served via first-class mail on the service list attached hereto as Exhibit C: • Notice of Motion and Notice of Hearing (Docket No. 95) Dated: February 11, 2021 /s/Julian A. -
He KMBC-ÍM Radio TEAM
l\NUARY 3, 1955 35c PER COPY stu. esen 3o.loe -qv TTaMxg4i431 BItOADi S SSaeb: iiSZ£ (009'I0) 01 Ff : t?t /?I 9b£S IIJUY.a¡:, SUUl.; l: Ii-i od 301 :1 uoTloas steTaa Rae.zgtZ IS-SN AlTs.aantur: aTe AVSí1 T E IdEC. 211111 111111ip. he KMBC-ÍM Radio TEAM IN THIS ISSUE: St `7i ,ytLICOTNE OSE YN in the 'Mont Network Plans AICNISON ` MAISHAIS N CITY ive -Film Innovation .TOrEKA KANSAS Heart of Americ ENE. SEDALIA. Page 27 S CLINEON WARSAW EMROEIA RUTILE KMBC of Kansas City serves 83 coun- 'eer -Wine Air Time ties in western Missouri and eastern. Kansas. Four counties (Jackson and surveyed by NARTB Clay In Missouri, Johnson and Wyan- dotte in Kansas) comprise the greater Kansas City metropolitan trading Page 28 Half- millivolt area, ranked 15th nationally in retail sales. A bonus to KMBC, KFRM, serv- daytime ing the state of Kansas, puts your selling message into the high -income contours homes of Kansas, sixth richest agri- Jdio's Impact Cited cultural state. New Presentation Whether you judge radio effectiveness by coverage pattern, Page 30 audience rating or actual cash register results, you'll find that FREE & the Team leads the parade in every category. PETERS, ñtvC. Two Major Probes \Exclusive National It pays to go first -class when you go into the great Heart of Face New Senate Representatives America market. Get with the KMBC -KFRM Radio Team Page 44 and get real pulling power! See your Free & Peters Colonel for choice availabilities. st SATURE SECTION The KMBC - KFRM Radio TEAM -1 in the ;Begins on Page 35 of KANSAS fir the STATE CITY of KANSAS Heart of America Basic CBS Radio DON DAVIS Vice President JOHN SCHILLING Vice President and General Manager GEORGE HIGGINS Year Vice President and Sally Manager EWSWEEKLY Ir and for tels s )F RADIO AND TV KMBC -TV, the BIG TOP TV JIj,i, Station in the Heart of America sú,\.rw. -
Who Pays Soundexchange: Q1 - Q3 2017
Payments received through 09/30/2017 Who Pays SoundExchange: Q1 - Q3 2017 Entity Name License Type ACTIVAIRE.COM BES AMBIANCERADIO.COM BES AURA MULTIMEDIA CORPORATION BES CLOUDCOVERMUSIC.COM BES COROHEALTH.COM BES CUSTOMCHANNELS.NET (BES) BES DMX MUSIC BES ELEVATEDMUSICSERVICES.COM BES GRAYV.COM BES INSTOREAUDIONETWORK.COM BES IT'S NEVER 2 LATE BES JUKEBOXY BES MANAGEDMEDIA.COM BES MEDIATRENDS.BIZ BES MIXHITS.COM BES MTI Digital Inc - MTIDIGITAL.BIZ BES MUSIC CHOICE BES MUSIC MAESTRO BES MUZAK.COM BES PRIVATE LABEL RADIO BES RFC MEDIA - BES BES RISE RADIO BES ROCKBOT, INC. BES SIRIUS XM RADIO, INC BES SOUND-MACHINE.COM BES STARTLE INTERNATIONAL INC. BES Stingray Business BES Stingray Music USA BES STORESTREAMS.COM BES STUDIOSTREAM.COM BES TARGET MEDIA CENTRAL INC BES Thales InFlyt Experience BES UMIXMEDIA.COM BES SIRIUS XM RADIO, INC CABSAT Stingray Music USA CABSAT MUSIC CHOICE PES MUZAK.COM PES SIRIUS XM RADIO, INC SDARS 181.FM Webcasting 3ABNRADIO (Christian Music) Webcasting 3ABNRADIO (Religious) Webcasting 8TRACKS.COM Webcasting 903 NETWORK RADIO Webcasting A-1 COMMUNICATIONS Webcasting ABERCROMBIE.COM Webcasting ABUNDANT RADIO Webcasting ACAVILLE.COM Webcasting *SoundExchange accepts and distributes payments without confirming eligibility or compliance under Sections 112 or 114 of the Copyright Act, and it does not waive the rights of artists or copyright owners that receive such payments. Payments received through 09/30/2017 ACCURADIO.COM Webcasting ACRN.COM Webcasting AD ASTRA RADIO Webcasting ADAMS RADIO GROUP Webcasting ADDICTEDTORADIO.COM Webcasting ADORATION Webcasting AGM BAKERSFIELD Webcasting AGM CALIFORNIA - SAN LUIS OBISPO Webcasting AGM NEVADA, LLC Webcasting AGM SANTA MARIA, L.P. -
Part 573 Safety Recall Report 19V-801
OMB Control No.: 2127-0004 Part 573 Safety Recall Report 19V-801 Manufacturer Name : General Motors LLC Submission Date : NOV 07, 2019 NHTSA Recall No. : 19V-801 Manufacturer Recall No. : N192265980 Manufacturer Information : Population : Manufacturer Name : General Motors LLC Number of potentially involved : 476 Address : 29427 Louis Chevrolet Road Estimated percentage with defect : 78 % MAIL CODE 480-210-2V WARREN MI 48093 Company phone : 586-596-1733 Vehicle Information : Vehicle 1 : 2014-2016 Chevrolet SS Vehicle Type : Body Style : Power Train : NR Descriptive Information : Vehicles that were remedied under recall 17V382 by inspection-only (the steering gear was not replaced), but whose steering gear could not be verified through other service records as having gold-plated terminals are included in this recall. Vehicles that were not part of 17V382 and vehicles confirmed to have the correct steering gear are not included in this recall. Production Dates : JUN 19, 2013 - APR 26, 2016 VIN Range 1 : Begin : NR End : NR Not sequential Description of Defect : Description of the Defect : General Motors has decided that a defect which relates to motor vehicle safety exists in certain 2014 – 2016 model year Chevrolet SS vehicles that were subject to NHTSA Recall No. 17V382 and may have been incorrectly inspected. These vehicles may experience loss of electric power steering (“EPS”) assistance while driving or idling as a result of fretting corrosion on the connector between the EPS module and the torque sensor. FMVSS 1 : NR FMVSS 2 : NR Description of the Safety Risk : If power steering assist is lost, manual steering functionality is retained but would require an increased steering effort, particularly at lower speeds, increasing the risk of a crash. -
Halla Holdings (060980 KS ) Undervalued Stock with Limited Risks
Halla Holdings (060980 KS ) Undervalued stock with limited risks Auto Limited exposure to China risks In 4Q16, major Korean auto parts suppliers suffered sharp margin erosion in Initiation Report China, and this is an issue that warrants continued attention. Given that China’s March 7, 2017 auto and auto parts industries are facing structural margin downtrends, we think that investors should focus on identifying market players that are relatively free from risks to downside. Based on 4Q16 results alone, it appears as though Mando fits the bill, as the company was able to overcome headwinds by pursuing revenue (Initiate) Buy growth via customer and product diversification. However, in our view, Halla Holdings is more attractive than its subsidiary. Indeed, despite its relatively solid Target Price (12M, W) 83,000 performance in 4Q16, Mando is highly exposed to China-related risks , as over 70% of its consolidated operating profit is generated in that country. Meanwhile, only Share Price (03/03/17, W) 61,500 34% of Halla Holdings’ enterprise value (EV) stems from Mando’s net profit and share price. This profile allows Halla Holdings to benefit from Mando’s strong top- Expected Return 35% line growth (in the form of brand royalties), while limiting exposure to margin risk in China. OP (16F, Wbn) 112 Growth potential for MHE, margin improvement for distribution/logistics Consensus OP (16F, Wbn) 107 Mando-Hella Electronics (MHE), which is 50% owned by Halla Holdings, saw its EPS Growth (16F, %) -9.4 revenue grow by a CAGR of 19% from 2013 -
Brose Sets-Up Joint-Venture for Electric Motors in Korea
Brose sets-up joint-venture for electric motors in Korea Brose International GmbH, Coburg, and Mando Corporation, Seoul, set up a joint-venture on 31st January 2011 in South Korea which will trade under the name of Mando-Brose Corporation. First row, from left: Moo-Hyun Cho (Manager New Business PJT), Tae-Young Han (Senior Vice President Corporate Audit & Legal Division/New Business Project Development), Zung-Su Byun, (Vice Chairman Mando Corporation), Jürgen Otto (CEO Brose Group), Stefan Halusa (Director Corporate Planning Brose Group) and Yong Park (President Brose Korea). Second row, middle, standing: Mon-Wo Chung (Chairman Mando Corporation) left, Thomas Sprangler (President Brose Asia) right. Seoul (02. February 2011) Brose International GmbH, Coburg, and Mando Corporation, Seoul, one of the leading automotive suppliers in Korea, have set up a joint-venture which will trade under the name of Mando-Brose Corporation. Each partner holds a 50% stake in the company. The agreement was signed on January 31st, 2011 by Jürgen Otto, CEO of Brose Group, and Zung-Su Byun, Vice-Chairman of Mando Corporation, in Songpa-gu/Seoul. Both companies are bundling their competencies in this joint-venture: Brose is established on all automotive markets worldwide and brings decades of experience in developing and manufacturing mechatronic systems and motors. Mando is the leading manufacturer of steering, brake and suspension systems in Korea and has excellent, long-standing business relationships with Korean car manufacturers, particularly Hyundai/Kia. To begin with, the joint-venture will develop and manufacture steering motors for the Korean market. The corporation will therefore set up a plant in Song-Do/South Korea, approx. -
Korea's Automotive Industry
2014 Modularization of Korea’s Development Experience: Korea’s Automotive Industry 2014 2014 Modularization of Korea’s Development Experience: Korea’s Automotive Industry 2014 Modularization of Korea’s Development Experience Korea’s Automotive Industry Title Korea’s Automotive Industry Supervised by Ministry of Strategy and Finance (MOSF), Republic of Korea Prepared by Korea Isntitute for Industrial Economics&Trade (KIET) Author Chuel Cho, Senior Resercher, KIET Kyungyou Kim, Resercher, KIET Minji Kim, Resercher, KIET Advisory Seung-Joo Lee, Professor, KDI School of Public Policy and Management Hyunchuel Kim, Professor, Seoul National University Sung-Ik Kim, Executive Managing Director, KAMA Moon-Soo Ko, Executive Director, KAICA Sungsang Lee, Professor, The Catholic University of Korea (fomer executive directpr of GM) Research Management KDI School of Public Policy and Management Supported by Ministry of Strategy and Finance (MOSF), Republic of Korea Government Publications Registration Number 11-1051000-000592-01 ISBN 979-11-5545-133-5 94320 ISBN 979-11-5545-116-8 [SET 19] Copyright © 2014 by Ministry of Strategy and Finance, Republic of Korea Government Publications Registration Number 11-1051000-000592-01 Knowledge Sharing Program 2014 Modularization of Korea’s Development Experience Korea’s Automotive Industry Preface The study of Korea’s economic and social transformation offers a unique window of opportunity to better understand the factors that drive development. Within about one generation, Korea transformed itself from an aid-recipient basket-case to a donor country with fast-paced, sustained economic growth. What makes Korea’s experience even more remarkable is that the fruits of Korea’s rapid growth were relatively widely shared. -
Emergency Alert System Plan
State Emergency Alert System Plan 2013 i i ii Record of Changes Change Location of Change Date of Date Entered Person Making Number Change Change iii Contents Promulgation Letter ....................................................................................................................................... i Concurrence Signatures…………………………………………………………………………………….ii Record of Changes…...…………………………………………………………………………………….iii Purpose .......................................................................................................................................................... 1 Authority ....................................................................................................................................................... 1 Introduction ................................................................................................................................................... 1 General Considerations ................................................................................................................................. 1 Definitions..................................................................................................................................................... 2 Concept of Operation .................................................................................................................................... 3 Methods of Access for System Activation .................................................................................................... 3 A. State Activation -
Agencies, Boards, & Commissions
Agencies, Boards, & Commissions 228 229 Profiles of Agencies, Boards, and Commissions For information about boards or board members, contact the administrator. In the case of subordinate entities, unless a separate address and phone number are given, contact the main agency for information. For governor’s task forces, for example, contact the governor’s office; for legislative committees, contact the Legislative Service Bureau (405/521–4144). If the entity is not listed, consult the index, as it may be listed alphabetically beneath a par- ent entity. Personnel figures are provided by the agency. Interagency Mail availability is indicated by (IA). 2–1–1 Oklahoma Coordinating Council (56 O.S. § 3021) Formerly named the 2–1–1 Advisory Collaborative, Oklahoma www.211oklahoma.org Abstractors Board, Oklahoma (1 O.S. § 22) Re-created until July 1, 2019 Agency Code 022 (IA) www.abstract.ok.gov 2401 NW 23 Street, Suite 60B, Oklahoma City 73107 405/522–5019, fax 405/522–5503 Mission Statement The Oklahoma Abstractors Board regulates the abstracting industry and issues abstractor licenses, certificates of authority, and permits to construct abstract plants. Administration Glynda Reppond, Executive Director Personnel 2 unclassified History and Function The board consists of nine members, six of whom are in the abstracting industry, one real estate representative, one banking representative, and one attorney. All members are appointed by the governor and serve staggered four year terms. The board is responsible for promulgating rules, setting forth guidelines for agency operations, and governing the professional practices of the licensees. The entity is self-supporting through fees. Accountancy Board, Oklahoma (59 O.S. -
Autodesk W Branży Motoryzacyjnej
Autodesk w Branży Motoryzacyjnej Name Surname Job Title Image courtesy of Local Motors Inc. Idea Koncepcja Wizualizacja Ergonomia Konstrukcja i optymalizacja Symulacja Organizacja procesu produkcyjnego Marketing 14 GENERAL MOTORS CORPORATION EXEDY CORPORATION IMABARI SHIPBUILDING CO.,LTD. WERNER BAIER UND GERHARD MEY TOYOTA MOTOR CORPORATION TSUNEISHI SHIPBUILDING COMPANY CENTRAL JAPAN RAILWAY COMPANY AMSTED INDUSTRIES INCORPORATED HONDA MOTOR CO., LTD. MAZDA MOTOR CORPORATION LINAMAR CORPORATION MITSUBISHI MOTORS AUSTRALIA LIMITED MITSUBISHI HEAVY INDUSTRIES, LTD. GENERAL ELECTRIC COMPANY CHINA SHIPBUILDING INDUSTRY CORPORATION CHINA STATE SHIPBUILDING CORPORATION MICHELIN ET CIE GM DAEWOO AUTO & TECHNOLOGY COMPANY NAMURA SHIPBUILDING CO.,LTD. KEIHIN CORPORATION NORTHROP GRUMMAN CORPORATION SIEMENS AG AUSTAL USA, LLC AKEBONO BRAKE INDUSTRY CO., LTD. FORD MOTOR COMPANY VALEO MAG IAS HOLDINGS, INC. COOPER-STANDARD HOLDINGS, INC. HYUNDAI HEAVY INDUSTRIES CO., LTD. L-3 COMMUNICATIONS HOLDINGS, INC. KOREA DELPHI AUTOMOTIVE SYSTEMS CENTRAL MOTOR CO.,LTD. ROBERT BOSCH GMBH DANA HOLDING CORPORATION STELLA VERM?GENSVERWALTUNGS GMBH L?RSSEN MARITIME BETEILIGUNGEN GMBH. VOLKSWAGEN AG SUZUKI MOTOR CORPORATION REPUBBLICA ITALIANA CHINA COMMUNICATIONS CONSTRUCTION KUBOTA CORPORATION SEMBCORP INDUSTRIES LTD THAI SUMMIT AUTOPARTS INDUSTRY COMPANY PARKER -HANNIFIN CORPORATION FIAT SPA ROLLS-ROYCE GROUP PLC NAVISTAR INTERNATIONAL CORPORATION DCNS MAGNA INTERNATIONAL INC AB VOLVO PRESCO, Y.K. JUNGHEINRICH AG BRIDGESTONE CORPORATION CKD CORPORATION UNITED TECHNOLOGIES CORPORATION MITSUBA CORPORATION CONTINENTAL AG NIENPAL EMPREENDIMENTOS E PARTICIPACOES YAZAKI CORPORATION YOKOHAMA RUBBER COMPANY, LIMITED, THE DAIMLER AG FUJI HEAVY INDUSTRIES LTD. BENTELER AG MUSASHI SEIMITSU INDUSTRY CO., LTD. STX OFFSHORE & SHIPBUILDING CO., LTD. SHANGHAI AUTOMOTIVE INDUSTRY CORP ABEKING & RASMUSSEN SCHIFFS- UND ALLISON TRANSMISSION, INC. NISSAN MOTOR CO., LTD. BROSE FAHRZEUGTEILE GMBH & CO. KG ODIM ASA STICHTING ADMINISTRATIEKANTOOR HUISMAN MITSUBISHI MOTORS CORPORATION HARLEY-DAVIDSON, INC. -
Orps Explains Revised
>0@ 1s@ 2s. tO 0 24' 24, 24 30o @ 3 )0 @ 18 14th year no. 13 May 28, 1968 )0@ 18 the loan volume of last year. But with corn prices rising and >0@ 18. A Big Corn Carryover holding near the loan rate since @ February, the pace of loan plac- The government forecasts ahas been slightly above last ing has slackened. 70 heavy carryover of around 1,-year it failed to offset reduced l00 1 100,000,000 to1,200,000,000bil- use of other feed grains. With 30p lion bushels of corn next Octo-the indicated slowdown of do- 1 ber 1 despite increased domes-mestic use total carryover of $197,000 For tic use and exports before thisall feed grains before the next .0 (a year's crop is harvested. harvest is estimated at 47 mil- )5 This would compare to stockslion tons, an increase of aboutMarshall Co. Land IS of 823 million bushels at the 10 million tons over stocks at MARYSVILLE -A thousand 30 end of last summer and indi-the start of this year. acres of Marshall county land >0 p 1 eDavy Is Fun Day cates to the Agriculture depart- Feed grain exports for the came close to bringing an aver- .5 @ 16 What's more fun than going to a sale with Dad? ment the probability of lower crop year are put at 23 millionage $200 per acre at auction @ 16 last week. ?s o rk and Gail Anderson spent the day with their average prices for the next fewtons, about 5 per cent more than months of 1968.