ID :
150655
Mon, 11/22/2010 - 09:05
Auther :
Shortlink :
https://oananews.org//node/150655
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S. Korean listed firms' cashable assets inch down in Q3
SEOUL, Nov. 22 (Yonhap) -- The cashable assets held by South Korea's listed companies edged down in the third quarter from a year earlier as a solid economic recovery spurred more corporate investment, data showed Monday.
The cashable assets of 553 out the total 647 firms listed on the Seoul main bourse reached 65.3 trillion won (US$57.7 billion) as of the end of September, compared with 65.4 trillion won a year earlier, according to the Korea Exchange and the Korea Listed Companies Association.
Cashable assets cover cash, bank deposits, cash equivalents and other short-term financial instruments that could be readily turned into cash.
The slight decline came as companies started to open their wallets to invest in new plants and equipment as solid economic growth pushes up demand. Last year, amid economic uncertainties, firms were reluctant to invest, hoarding cash.
South Korea's top automaker Hyundai Motor Co. held the largest cashable assets worth 7.9 trillion won, followed by leading steelmaker POSCO with nearly 3 trillion won, the data showed.
The country's largest electronics firm, Samsung Electronics Co., and three other Samsung subsidiaries as well as LG Electronics Inc. and its affiliates were not counted into the tally due to accounting reasons.
The cashable assets of 553 out the total 647 firms listed on the Seoul main bourse reached 65.3 trillion won (US$57.7 billion) as of the end of September, compared with 65.4 trillion won a year earlier, according to the Korea Exchange and the Korea Listed Companies Association.
Cashable assets cover cash, bank deposits, cash equivalents and other short-term financial instruments that could be readily turned into cash.
The slight decline came as companies started to open their wallets to invest in new plants and equipment as solid economic growth pushes up demand. Last year, amid economic uncertainties, firms were reluctant to invest, hoarding cash.
South Korea's top automaker Hyundai Motor Co. held the largest cashable assets worth 7.9 trillion won, followed by leading steelmaker POSCO with nearly 3 trillion won, the data showed.
The country's largest electronics firm, Samsung Electronics Co., and three other Samsung subsidiaries as well as LG Electronics Inc. and its affiliates were not counted into the tally due to accounting reasons.
