http://www.koreatimes.co.kr/www/news/nation/2015/03/116_175486.html

Posted by LE Hoang Trinh, Year 4 undergrad at the School of Information Systems, Singapore Management University

Updated : 2015-03-18 18:37

Prosecution raids Korea National Oil

Investigation into failed energy diplomacy expands

By Kim Rahn

Prosecutors raided the head offices of the Korea National Oil Corp. (KNOC) and Keangnam Enterprises, Wednesday, as part of their widening investigation into allegations of corruption surrounding the failed “energy diplomacy” conducted under the Lee Myung-bak administration. Continue reading →

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3002081&cloc=joongangdaily|home|newslist1

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3002084

Trillions of won spent on Posco M&As

Mar 19,2015

Former Posco Group Chairman Chung Joon-yang allegedly invested some trillions of won in questionable mergers and acquisitions during his term, according to data from a website specializing in corporate statistics. The 67-year-old has been recognized by prosecutors as the driving force behind alleged tax evasions and a multitude of suspicious mergers and acquisitions orchestrated by the nation’s No. 1 steelmaker that resulted in a massive financial blow.  Continue reading →

http://www.koreatimes.co.kr/www/news/nation/2015/03/116_175521.html

Updated : 2015-03-19 17:46

Lotte under anti-corruption probe

By Kim Rahn
Lotte Group’s shopping subsidiary is being investigated for allegedly creating a slush fund, prosecutors said Thursday. Continue reading →

http://money.livemint.com/news/market/equity/movers-today/dlf-gains-after-sat-quashes-sebi%E2%80%99s-market-ban-on-the-company-364388.aspx

DLF gains after SAT quashes SEBI’s market ban on the company

16 March 2015

Accord Fintech

India, March 16 — DLF is currently trading at Rs. 161.75, up by 4.25 points or 2.70% from its previous closing of Rs. 157.50 on the BSE.The scrip opened at Rs. 162.10 and has touched a high and low of Rs. 163.90 and Rs. 158.85 respectively. So far 13,10,000 shares were traded on the counter.The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 242.80 on 09-Jun-2014 and a 52 week low of Rs. 100.00 on 16-Oct-2014.Last one week high and low of the scrip stood at Rs. 163.90 and Rs. 139.20 respectively. The current market cap of the company is Rs. 28,840.00 crore.The promoters holding in the company stood at 74.91% while Institutions and Non-Institutions held 20.18% and 4.91% respectively.Securities Appellate Tribunal (SAT) has quashed a Securities and Exchange Board of India (SEBI) order against DLF, lifting a capital markets ban on the company’s promoters and related entities. The case relates to alleged non-disclosure of information by the company during its IPO in 2007, which had garnered about Rs 9,000 crore. Earlier in October 2014, SEBI had banned DLF and its key officials from accessing the capital markets for three years. This verdict will boost DLF in its struggle to reduce its net debt, which stood at $3.3 billion at the end of December. However, the ruling comes as a blow to SEBI which has stepped up its efforts to curb market manipulation and has called for better disclosures by listed companies.DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation.

http://www.koreatimes.co.kr/www/news/nation/2015/03/116_175390.html

DongA One under probe for stock manipulation

17 March 2015

Korea Times

By Lee Kyung-min

Prosecutors said Tuesday they are investigating DongA One, a flour maker owned by Lee Hi-sang, the father-in-law of former President Chun Doo-hwan’s third son, Jae-man, for alleged stock manipulation. The Seoul Southern Prosecutors’ Office said it detained a stockbroker, surnamed Kim, on suspicion he helped the firm inflate its stock price in 2010 and 2011. During the period, the company’s stock price doubled from 3,000 to 6,000 won. The company reaped some 38 billion won in illegal gains by selling its stock to institutional and individual investors, the prosecution said. DongA One is suspected of providing money to the stockbroker to help raise the stock’s price. The Securities and Futures Commission first detected the manipulation last year and referred the case to the prosecution in May. Previously, Lee was investigated for allegedly helping the Chun family create a slush fund to hide assets.

http://www.businesstimes.com.sg/opinion/loss-of-market-confidence-here-just-look-at-cases-such-as-sino-construction

Loss of market confidence here – just look at cases such as Sino Construction

Mak Yuen Teen

18 March 2015

Business Times Singapore

The question is not why the company’s share price recently collapsed – but why it has taken so long. Are there more such cases to come?

ON March 2, Sino Construction’s share price closed about 15 cents down from its previous trading day’s closing price of 26.5 cents on Feb 27 – a fall of 55.8 per cent. The following day, its share price halved again to close at six cents. By March 9, its share price had fallen to 5.4 cents – a total fall of about 80 per cent over just six trading days. Continue reading →

http://www.bloomberg.com/news/articles/2015-03-16/sunac-said-to-find-kaisa-unprofitable-in-takeover-due-diligence

Sunac Said to Find Kaisa Unprofitable in Due Diligence Work

byBloomberg News

March 16, 2015

(Bloomberg) — Sunac China Holdings Ltd., which is buying Kaisa Group Holdings Ltd., has found during due diligence that the troubled developer probably had a loss last year, people familiar with the matter said. Sunac executives drew the conclusion based on studying Kaisa’s books after Sunac agreed to buy the Shenzhen-based developer, according to the people, who asked not to be named as Sunac executives are still going through the numbers. Kaisa said last month it would post a “substantial decline” in profit for 2014, without providing figures. Analysts are still forecasting a profit for the full year, with the average of six estimates compiled by Bloomberg at 3.1 billion yuan ($495 million). Continue reading →