Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. LG Chem, Ltd.
  6. News
  7. Summary
    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Indonesia reports $850 million in factory investments, says billions committed

06/30/2020 | 04:32am EDT
General view of a construction site during the dusk in Jakarta

By Gayatri Suroyo

Indonesia's investment board on Tuesday said seven companies would soon relocate factories to the Southeast Asian nation worth a combined $850 million, most moving from China, with a potential for billions more from another 17 interested firms.

The announcement came in a presentation to President Joko Widodo about an industrial park in Java, which hopes to capitalise on the appetite to relocate manufacturing from China to lower risks of supply chain disruption.

Indonesia, however, faces stiff competition in the region from preferred destinations like Thailand and Vietnam.

The investments include a $150 million factory in Banten for tyre-maker Kenda Rubber Industrial and $90 million from audio systems maker Meiloon Industrial to set up in West Java, the board BKPM said. Both are Taiwanese.

Japanese vehicle parts maker Sagami will spend $50 million on a plant in North Sumatra and electronics giant Panasonic will invest $30 million in Jakarta.

U.S. solar lights maker Alpan would spend $14 million on a factory in Central Java, BKPM said.

Those projects were all being moved from China, according to BKPM. It was not clear if all were new investments and a spokeswoman for BKPM was not available.

Others included a $378 million factory for South Korea's LG and $138 million from Japan's Denso for a car part plant, both in West Java.

Some of the firms' executives were featured in the video expressing their commitments. Some local offices of the companies could not be reached by Reuters, while others did not immediately respond to requests for comment.

"Today there are seven who are definitely coming here. Seventeen others have committed," Widodo said.

"I order that they all be served well."

Industry experts say a shakeup in global supply chains is set to continue as a result of the coronavirus, with manufacturers keen to reduce their dependence on China and exposure to ongoing U.S.-China trade tensions.

The 17 companies Widodo referred to represented a potential investment of $37 billion combined, BKPM said.

Among those was LG Chem which is considering a $9.8 billion investment in an electric vehicle battery factory integrated with a smelter.

(Additional reporting by Agustinus Beo Da Costa and Maikel Jefriando; Editing by Martin Petty)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DENSO CORPORATION -3.63% 7521 End-of-day quote.22.61%
KENDA RUBBER INDUSTRIAL CO. LTD. -0.37% 40.05 End-of-day quote.14.59%
LG CHEM, LTD. -1.56% 822000 End-of-day quote.-0.24%
LG CORP. -0.48% 103500 End-of-day quote.7.83%
LG ELECTRONICS INC. 1.62% 157000 End-of-day quote.16.30%
MEILOON INDUSTRIAL CO., LTD. -0.54% 36.9 End-of-day quote.5.43%
PANASONIC CORPORATION -0.04% 1238 End-of-day quote.3.99%
SAGAMI HOLDINGS CORPORATION 0.19% 1032 End-of-day quote.-13.78%
SET -0.29% 1612.98 Real-time Quote.11.29%
All news about LG CHEM, LTD.
04:11aMARKET CHATTER : LG Energy Completes Lithium-ion Battery Supply to California-ba..
MT
02:53aS.Korean stocks end higher, post fifth straight weekly gain
RE
06/16South Korean stocks slip from record high after Fed outcome
RE
06/15Vulcan Energy Joins Global Battery Alliance
MT
06/15LG CHEMá : GM to supply electric batteries, hydrogen fuel cell systems for Wabte..
RE
06/15S.Korean stocks end higher at record close, Fed meeting in focus
RE
06/14MARKET CHATTER : Overseas, Institutional Investors Focus on Stocks that May Gain..
MT
06/14S.Korean stocks edge up to end at record high, Fed meeting in focus
RE
06/11S.Korean stocks extend gains for fourth week as inflation fears ease
RE
06/09MARKET CHATTER : LG Energy Solution to Buy Stake in Australia's Queensland Pacif..
MT
More news
Financials
Sales 2021 41 766 B 36,8 B 36,8 B
Net income 2021 3 386 B 2,99 B 2,99 B
Net Debt 2021 6 399 B 5,64 B 5,64 B
P/E ratio 2021 18,4x
Yield 2021 1,31%
Capitalization 60 612 B 53 356 M 53 460 M
EV / Sales 2021 1,60x
EV / Sales 2022 1,40x
Nbr of Employees -
Free-Float 59,6%
Chart LG CHEM, LTD.
Duration : Period :
LG Chem, Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 1 193 769,23 KRW
Last Close Price 822 000,00 KRW
Spread / Highest target 82,5%
Spread / Average Target 45,2%
Spread / Lowest Target -17,3%
EPS Revisions
Managers and Directors
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Dong-Seok Cha Chief Financial Officer & Director
Jin-Soo Park Vice Chairman
Ki-Soo No CTO & President-Executive Board
Sector and Competitors
1st jan.Capitalization (M$)
LG CHEM, LTD.-0.24%54 329
DOW INC.11.68%47 464
FORMOSA PLASTICS CORPORATION5.81%23 693
FORMOSA CHEMICALS & FIBRE CORPORATION-1.65%17 942
HANGZHOU FIRST APPLIED MATERIAL CO., LTD.32.17%12 949
COVESTRO AG2.58%12 363