2023-10-23 00:09:49
[비즈니스포스트] There was an opinion in the securities market that a short-term stock price decline is expected as Kiwoom Securities is expected to accumulate additional provisions due to Youngpoong Paper’s lower limit price situation.
On the 23rd, Seol Yong-jin, a researcher at SK Securities, said, “Kiwoom Securities has shown a good stock price trend due to high trading volume, low bond trading, real estate project financing (PF), positive performance outlook due to overseas real estate exposure, and active shareholder return policy.” “Considering factors such as provisions due to this incident, it is expected that negative stock price trends will be unavoidable in the short term.”
▲ Kiwoom Securities is expected to accumulate additional provisions due to the Youngpoong Paper lower limit price situation.
It was revealed that Kiwoom Securities was left with about 500 billion won in receivables due to the lower limit price situation of Youngpoong Paper, which is suspected of stock price manipulation.
Kiwoom Securities announced on the 20th that it had incurred 494.3 billion won in receivables related to Youngpoong Paper.
Researcher Seol said, “Youngpoong Paper and its parent company, Daeyang Metal, have entered into a trading suspension,” adding, “Considering that the majority of accounts with current receivables are accounts that only traded Youngpoong Paper, there will be no decision on the stock in question after the trading suspension is lifted in the future.” “We expect to collect receivables through counter sales,” he said.
It was expected that Kiwoom Securities would accumulate additional provisions due to this incident. Previously, Kiwoom Securities had accumulated about 70 billion won in provisions due to a settlement arbitrage (CFD) incident in the second quarter.
Researcher Seol said, “In the case of other large companies, measures have been taken to increase the margin rate to 100%,” adding, “Most of the trading of the stocks in question occurred at Kiwoom Securities. “The specific size of the loss is expected to be determined depending on Youngpoong Paper’s stock price in the future, but given the fact that Daeyang Metal, the parent company, borrowed stock-backed loans using Youngpoong Paper stock as collateral, there is a possibility of additional selling by creditor banks,” he said.
He continued, “Considering that this is a time when regulations related to internal control were being strengthened due to the recent bank financial accident, the importance of risk management is expected to be highlighted throughout the industry,” and “There will be additional shocks due to growing concerns about Youngpoong Paper.” “There is a possibility,” he predicted. Reporter Jeong Hee-kyung
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