Latest news with #KB
Korea Herald
4 days ago
- Business
- Korea Herald
Bank stocks rally as stronger won boosts capital ratios
Shares of South Korea's largest financial service providers — Hana, Woori, KB, and Shinhan — surged Tuesday, driven by expectations of stronger shareholder returns supported by improved capital adequacy. Hana Financial Group shares rose as high as 70,700 won ($57.57) during intraday trading, marking the highest price since its transition to a holding company in December 2005. The stock later trimmed some gains and closed at 70,100 won. Woori Financial Group also saw its shares hit a record high of 18,310 won during trading, the highest since becoming a holding company in January 2019, before closing daytime trading at 18,290 won. Other major financial service providers posted strong gains in stock prices as well. On Monday, KB Financial Group shares climbed to 102,000 won, approaching its all-time high of 103,900 won recorded on Oct. 25. With this rally, the firm's market capitalization reached 40.13 trillion won, making it the fifth-largest company on the local stock market, outrunning market giants such as Hyundai Motors and Hanwha Aerospace. It was the first time in nearly 15 years for KB to take the No. 5 spot since March 2010. However, as of Tuesday afternoon, KB shares edged down slightly and wrapped up trading at 101,900 won, dropping the company to sixth place in market cap, overtaken by Hanwha Aerospace, which stood at 41.95 trillion won. Shinhan Financial Group shares also posted a strong gain, closing at 56,500 won — a steep climb from 42,500 won on April 9. The stock's previous high stands at 64,600 won logged on Aug. 30. The recent rally in bank stocks is largely attributed to the strengthening of the Korean won. The currency appreciated into the 1,360 won per dollar range this week, recovering more than 100 won from its April low of nearly 1,490 won. On Tuesday, the value of the won was quoted at 1,369.5 per dollar when the daytime trading closed. A stronger won boosts the Common Equity Tier 1 (CET1) ratio, a key indicator of banks' capital adequacy, thereby allowing financial firms greater flexibility in enhancing shareholder returns. The improved capital position comes alongside solid earnings. The four major financial groups recorded a combined net profit of 4.92 trillion won in the first quarter of 2024, the highest Q1 performance on record, surpassing the 4.91 trillion won posted in Q1 2023. According to market tracker FnGuide, the firms are projected to post a combined net profit of 17.64 trillion won this year, up 6.8 percent year-on-year. "Considering the banks' profitability, even with increased treasury share buybacks, the CET1 ratio is still expected to improve," said Choi Jeong-wook, an analyst at Hana Securities. "Share prices of global banks tend to track the scale of their treasury share repurchases."
Observer
24-05-2025
- Business
- Observer
UK firm plans Oman's first nickel pilot plant
MUSCAT, MAY 23 UK-based mining company Knights Bay says it plans to establish a pilot nickel production facility in Oman, marking the initial phase of a major integrated mining project in the Middle East. The pilot plant, which will process 10,000 tonnes per annum (tpa) of nickel, is designed to scale into full production modules capable of producing up to 100,000 tpa. The facility will be based on mineral resources extracted from Knights Bay's 1,444 km² concession in the Wilayat of Ibra, Al Sharqiyah North Governorate. The project also includes significant deposits of iron ore, cobalt, chrome and silica. 'Knights Bay (KB) is revolutionising the Middle East's mining sector with the development of the first fully integrated Nickel and Iron Ore mining project," said Chris Stava, Senior Executive, in a recent post. According to Stava, the company is seeking a strategic partner to support the staged development of the project. Key milestones include securing a mining license, mobilising drilling operations, refining engineering and processing for carbon-neutral production; and enhancing corporate governance with the recruitment of independent board members. Backed by a Royal Decree, the concession offers substantial long-term potential. Stava noted that historical and contemporary studies conducted between 2000 and 2025 estimate over 37 million tonnes of resources and reserves, with an exploration target of more than 1.5 billion tonnes. Geological exploration has so far focused on approximately 300 km² of the concession, revealing average nickel grades between 1.05% and 1.2% and iron ore grades between 60% and 66%. At full production, the facility is expected to produce up to 112,000 tpa of nickel, 120,000 tpa of iron ore and 5,100 tpa of cobalt. Knights Bay has already completed drilling for its initial batch of exploration holes in the concession. 'This project holds the potential to play a pivotal role in industries transitioning to clean energy and providing alternative sourcing options for western markets,' Stava said. The geology team recently concluded Phase 1 of its scout drilling campaign, reporting consistent mineral values across the laterite zones. 'Excitingly, new zones of nickel and cobalt laterites, up to 35 metres thick, have been discovered and sampled, with more details to follow,' added Stava. Current findings indicate over 95 million tonnes of measured, indicated and inferred resources with average grades of 1.06% nickel, 560 ppm cobalt, 35% iron and 4% chromite. Laterite thicknesses in target zones average 25 metres. Initial feedstock for the pilot plant will come from 400,000 tonnes of existing mined material with nickel grades between 1.0% and 1.3%; and cobalt levels of around 500 ppm. The project has also uncovered potential new opportunities, including a borehole with elevated lithium values and a 40-metre laterite sequence capped by a 1.5-metre thick pyrite layer — suggesting possible massive sulphide formation. Over 3 million tonnes of iron laterite have already been extracted, which opens up the potential for shallow surface mining operations to support future growth. The company also sees potential in supplying iron and nickel products to steelmakers in the Gulf region. HIGHLIGHTS The facility will be based on mineral resources extracted from Knights Bay's 1,444 km² concession
Business Wire
16-05-2025
- Business
- Business Wire
KB Home Announces a Rare Opportunity to Own a New Townhome in a Prime Tustin, California Location
TUSTIN, Calif.--(BUSINESS WIRE)--KB Home (NYSE: KBH), one of the largest and most trusted homebuilders in the U.S., today announced the grand opening of Stafford Glen, which offers a rare opportunity to own a new townhome in a highly desirable Tustin, California location. The new homes are designed for the way people live today, with popular interior features like modern kitchens overlooking great rooms, bedroom suites with walk-in closets, and ample storage space. The community's three-story floor plans feature up to four bedrooms and four baths. Several floor plans will include a first-floor bedroom, ideal for multigenerational families, college students or a home office. Small business owners will also appreciate the available live/work units that allow them to operate their business from home. Stafford Glen is walking distance to Tustin High School and shopping, dining and entertainment in Old Town Tustin. Planned community amenities include a park with open space, a picnic area and barbecues. What sets KB Home apart is the company's focus on building strong, personal relationships with every customer, so they have a real partner in the homebuying process. Every KB home is uniquely built for each customer, so no two KB homes are the same. Their home comes to life in the KB Home Design Studio, a one-of-a-kind experience where customers get both expert advice and the opportunity to select from a wide range of design choices that fit their style and their budget. Reflecting the company's commitment to creating an exceptional homebuying experience, KB Home is the #1 customer-ranked national homebuilder based on homebuyer satisfaction surveys from a leading third-party review site. 'We are pleased to offer Southern California homebuyers a rare opportunity to own a spacious new townhome in a prime location walking distance to shopping, dining and entertainment in Old Town Tustin,' said Steve Ruffner, Regional General Manager of KB Home. 'Homeowners will appreciate the community's proximity to Orange County's popular beaches and attractions as well as local schools. Stafford Glen also features a planned on-site park with open space, a picnic area and barbecues. At KB Home, we're here to help you achieve your dream with a personalized new home built uniquely for you and your life.' Innovative design plays an essential role in every home KB builds. The company's floor plans inspire contemporary living, with a focus on roomy, light-filled spaces that have easy indoor/outdoor flow. KB homes are engineered to be highly energy and water efficient and include features that support healthier indoor environments. They are also designed to be ENERGY STAR ® certified — a standard that fewer than 12% of new homes nationwide meet — offering greater comfort, well-being and utility cost savings than new homes without certification. Stafford Glen is situated in a commuter-friendly location that offers homebuyers an exceptional lifestyle. The new community is located just off Interstate 5 at the corner of Newport Avenue and El Camino Real, providing easy access to Interstates 5 and 405, State Routes 55, 133 and 261, the area's major job centers and John Wayne Airport. Stafford Glen is close to a variety of shopping, dining and entertainment as well as University of California, Irvine and Concordia University Irvine. Residents will also enjoy the community's proximity to outdoor recreation and attractions, including Orange County's world-famous beaches, Disneyland Resort ®, California Adventure Park ®, Honda Center ®, Angel Stadium and Tustin Ranch Golf Club. Stafford Glen's sales office is open for walk-in visits and private in-person tours by appointment. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from the low $900,000s. For more information on KB Home, call 888-KB-HOMES or visit KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 49 markets, have built nearly 700,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR ® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit
Business Wire
16-05-2025
- Business
- Business Wire
KB Home Announces the Grand Opening of Three New Communities Within Windler, a Highly Acclaimed Aurora, Colorado Master Plan
AURORA, Colo.--(BUSINESS WIRE)--KB Home (NYSE: KBH), one of the largest and most trusted homebuilders in the U.S., today announced the grand opening of Wildflower, Villas and Starlight, three new-home collections within the sought-after Windler master plan. The new homes are designed for the way people live today, with popular features like modern kitchens overlooking large great rooms, bedroom suites with walk-in closets, and ample storage space. The two-story, single-family homes at Wildflower and two-story, paired homes at Villas both feature up to six bedrooms and four baths. The beautiful one-story homes at Starlight offer mid-century modern architecture and up to five bedrooms and three-and-a-half baths. Homeowners will appreciate the planned resort-style on-site amenities, which include a pool, community center, dog park, sports courts and over 160 acres of parks, trails and open space. What sets KB Home apart is the company's focus on building strong, personal relationships with every customer, so they have a real partner in the homebuying process. Every KB home is uniquely built for each customer, so no two KB homes are the same. Homebuyers have the ability to personalize their new home, from floor plans to exterior styles to where they live in the community. Their home comes to life in the KB Home Design Studio, a one-of-a-kind experience where customers get both expert advice and the opportunity to select from a wide range of design choices that fit their style and their budget. Reflecting the company's commitment to creating an exceptional homebuying experience, KB Home is the #1 customer-ranked national homebuilder based on homebuyer satisfaction surveys from a leading third-party review site. 'We are proud to offer Denver-area homebuyers spacious new homes within a highly acclaimed Windler master plan,' said Kevin McAndrews, President of KB Home's Colorado division. 'Wildflower, Villas and Starlight are designed to offer residents an elevated lifestyle through thoughtfully crafted homes and premier resort-style living. Homebuyers will appreciate the planned on-site amenities, which include a pool, community center, dog park, sports courts and over 160 acres of parks, trails and open space, as well as the proximity to Denver International Airport. At KB Home, we're here to help you achieve your dream with a personalized new home built uniquely for you and your life.' Innovative design plays an essential role in every home KB builds. The company's floor plans inspire contemporary living, with a focus on roomy, light-filled spaces that have easy indoor/outdoor flow. KB homes are engineered to be highly energy and water efficient and include features that support healthier indoor environments. They are also designed to be ENERGY STAR ® certified — a standard that fewer than 12% of new homes nationwide meet — offering greater comfort, well-being and utility cost savings than new homes without certification. Wildflower, Villas and Starlight are in a commuter-friendly location that offers homebuyers an exceptional lifestyle. The new communities are situated at the corner of East 56th Avenue and North Danali Boulevard, just east of E-470, providing easy access to Interstate 70, downtown Denver, Denver International Airport, Pena Station, Colorado University Anschutz Medical Campus and Gaylord Rockies ® Resort & Convention Center. The neighborhoods are also close to shopping, dining and entertainment and just a short drive to the Rocky Mountains, which offers year-round recreation and world-class resorts. The Wildflower, Villas and Starlight sales offices and model homes are open for walk-in visits and private in-person tours by appointment. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from the low $400,000s. For more information on KB Home, call 888-KB-HOMES or visit About KB Home KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 49 markets, have built nearly 700,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR ® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit
The Citizen
13-05-2025
- Automotive
- The Citizen
JAC T9 bakkie beats Isuzu KB and Toyota Hilux endurance records
Double cab covers 4 084km in 24 hours at an average speed of 170.1km at Gerotek. Many years ago, endurance records was one the most popular ways vehicle manufacturers showcased their vehicle's reliability and performance capabilities to the buying public. How it worked was that you went to a bona fide test facility and drove your vehicles flat out for 24 hours or longer under the watchful eyes of independent observers and announced the result to the world. It was very much a tit-for-tat game back then, with manufacturer after manufacturer all looking to outdo the other. Toyota set the benchmark in 2003 when they averaged a speed of 159.1km/h for 24 hours at Gerotek in their Hilux. Isuzu hit back in 2010 when they averaged 169.3km/h at the same venue and over the same period with their KB. A record they have held up onto for 15 years. ALSO READ: Plug-in hybrid JAC T9's switch flipped for South Africa JAC T9 the new champion JAC Motors has just gone and taken the crown from Isuzu with their T9 2.0L CTi by covering 4 084km at an average speed of 170.1km/h at the very same Gerotek, just outside Pretoria in South Africa. The 24-hour endurance challenge was the brainchild of adventurer and content creator Danie Botha from Wild in SA. 'The idea was to have a bit of fun with the IndyCar races in the US, while giving the motoring public a glimpse into the thrilling world of endurance racing, unofficially attempting to break a 15-year-old record using just one JAC T9 over 24 hours.' 'When the 24-hour endurance challenge idea was pitched, we immediately knew it was a great opportunity to showcase the outstanding reliability and durability of our JAC products,' says Karl-Heinz Göbel, CEO of JAC Motors South Africa. Convincing the public Göbel says market research shows car buyers ask four key questions about Chinese vehicles. Are they reliable, are parts supply consistent, how many dealerships support after-sales service, and what trade-in value can you expect when it is time to sell in a few years? ALSO READ: AC T9 shows Chinese bakkies can threaten Hilux and Ranger 'We've ticked all the boxes after eight years of local trading, building a network of over 70 dealers across Southern Africa, delivering great after-sales service and consistent parts supply to more than 7 000 satisfied customers. This 24-endurance challenge proves JAC Motors' reliability — our vehicles are as tough and reliable as any established brand — and we are here to compete with the best.' The 24-hour endurance challenge, held on 12 and 13 April, took a casual approach with no specialised tools used during pit stops. Four racing drivers, Michele Habig, Setshaba Mashigo, Phillip Kekana and Daniel Barbosa, all of whom are also driving instructors, took on the mammoth task of attempting to break Isuzu's South African 24-endurance record set in 2010 in the JAC T9. Hats off the drivers 'When I watched historic footage of Isuzu's meticulously executed attempt — precision pit stops, high-pressure fuel systems, and a trained crew — I wasn't always confident we would break the record, especially when compared to our video production team and helpers taking over five minutes per pit stop. The pressure mounted, but our drivers stayed focused and committed to chasing the record,' says Göbel. Continental Tyre SA sponsored the 24-hour endurance race, fitting the JAC T9 with CrossContact ATR tyres. Engen sponsored the fuel for the 24-hour endurance event. 'This remarkable achievement coincided with the finalisation of our new warranty for the T9 line-up. With confidence, we are extending the standard 100 000km warranty to 200 000km over five years, effective from 1 March 2025. The new five-year/200 000km warranty is backed by a five-year/100 000km service plan,' concludes Göbel. ALSO READ: VIDEO: JAC T9 makes a strong case silencing the sceptics JAC T9 heads bakkie line-up JAC Motors entered the South African market in 2017 with the X200 2.8L TDI 1.5-ton forward-cab workhorse. Its X-Series has since grown to include a unique double-cab derivative and the new battery-electric X200 EV 1.9-ton. Launched in 2018, the T-Series is now led by the flagship JAC T9 2.0L CTi.
