Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Large Korean E&C Companies: Biggest Beneficiaries of End of War in Iran (Reconstruction)

Samsung Electronics 2Q26 Earnings & Watch Out for SK Hynix Underperforming Samsung by 20%+

Samsung Electronics (005930 KS) Tactical Outlook UPDATE Ahead of SK Hynix IPO On Friday

Top 20 Korean Construction Companies: Off-Balance Sheet Contingent Liabilities To Drive Lower Prices

Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly Election

Daewoo E&C (047040 KS/Buy)Ready for Entry into the Global Nuclear Market

Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices

Douglas Research Advisory

Equity Bottom-Up

Daewoo Engineering & Construction / Equity Bottom-Up

Daewoo Engineering & Construction (047040 KS)

<ul>
<li>Daewoo E&amp;C's share price has surged driven by the hope of higher new orders from reconstruction projects in Iran/Middle East and higher nuclear power plant construction. </li>
<li>I believe that its share price has reached excessive levels. There is a higher probability the reconstruction projects in Iran/Middle East and nuclear power plant construction projects could be disappointing.</li>
<li>Daewoo E&amp;C's P/E and P/B multiples averaged 4.3x and 0.5x, respectively last five years. Its current P/E and P/B multiples are 845% and 580% higher than its historical valuation multiples. </li>
</ul>


Daewoo E&amp;C's share price has surged driven by the hope of higher new orders from reconstruction projects in Iran/Middle East and higher nuclear power plant construction. 
I believe that its share price has reached excessive levels. There is a higher probability the reconstruction projects in Iran/Middle East and nuclear power plant construction projects could be disappointing.
Daewoo E&amp;C's P/E and P/B multiples averaged 4.3x and 0.5x, respectively last five years. Its current P/E and P/B multiples are 845% and 580% higher than its historical valuation multiples. 


Kepco Plant Service & Engineering (051600 KS)

Kepco Engineering & Construction (052690 KS)

Daewoo E&C: Excessive Hope from Reconstruction in Iran and Nuclear Power Plant Construction Projects