Hints and tips:
...In a few months, STX, the second-tier Hollywood studio whose backers include Beijing-based Hony Capital, is expected to list its shares in Hong Kong....
...Tencent recently took a small stake in another second tier Hollywood studio, STX, which already had as its investor Hony Capital, a mainland private equity firm....
...Other listed STX companies have more than doubled since May 26....
...Shares in STX Corp, an investment holding company, sank as much as 26.1 per cent to a record low Won1,150 on the Kospi today, while shares in STX Heavy Industries were down as much as 23.1 per cent....
...Competition and co-operation Chinese media companies are now especially focused on Hollywood....
...Last month, STX Offshore & Shipbuilding, another South Korean shipbuilder, filed for court receivership in spite of creditors having pumped some $4bn into the company over the past three years....
...State-run banks injected a similar amount into STX Offshore, once the country's fourth-largest shipbuilder, but this was not enough to prevent the company filing for bankruptcy protection in May....
...The $325m investment by Mr Ambani’s Reliance Big Entertainment in 2008 was supposed to herald a new era of co-operation between Hollywood and the Indian film industry....
...But whether they succeed will depend on their willingness to accept a reliance on intermediaries and co-investors, such as Mr Tang....
...The Beijing-based company did not identify its US counterpart but people familiar with the situation said it was Burbank-based STX Entertainment....
...News reports subsequently identified the US partner as Burbank-based STX Entertainment....
...STX Pan Ocean, the country’s largest bulk carrier, filed for court protection in June, unable to overcome the mounting debt burden....
...A co-operative attitude from South Korean creditors – notably state-owned institutions such as Korea Development Bank and Woori Bank – should be enough to ensure the survival of STX’s two main businesses...
...Their financial performance has come under closer scrutiny after a string of bankruptcies among second-tier chaebol groups including STX, Tongyang and Woongjin....
...Several other of its units have also been in talks with creditors over debts they are struggling to repay, including STX Heavy Industries and STX Offshore & Shipbuilding....
...Hanjin’s bulk carrier business is one of Hahn & Co’s biggest acquisitions so far....
...The sector has also been hit by large debt writedowns stemming from a financial crisis at STX, one of the country’s biggest conglomerates....
...Creditors have piled pressure on cash-strapped industrial conglomerates to accelerate restructuring, following a string of bankruptcies including STX, Tongyang and Woongjin....
...Shares in STX Group affiliates including STX Heavy Industries, STX Pan Ocean and STX Engine each tumbled by 15 per cent on Tuesday....
...The cost of that policy is now being seen in the likes of STX Corp, once one of the world’s leading shipping and shipbuilding groups; cement-to-financial services conglomerate Tongyang; Kumho Industrial,...
...Before Tongyang, other conglomerates including Woongjin, Kumho, STX and Pantech have suffered in recent months, with some of them heading for bankruptcy courts or putting their assets up for sale....
...Korea’s biggest dry bulk shipowner, STX Pan Ocean, sought bankruptcy protection on June 7. Earnings for dry bulk ships continue to be too low to cover many companies’ operating costs....
...Hyundai Merchant Marine reported a Won998.9bn net loss while STX Pan Ocean posted a Won456.6bn loss. “We are still in the red but we have seen a better start this year....
...Meanwhile the biggest gainer on the Kospi 100 was STX Pan Ocean, up the maximum 15 per cent. The reason?...
...Group trying to raise Won2.5tn by selling its stakes in units such as STX Energy and STX OSV Holdings....
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