Listed firms‘ cashable assets up 4.9% in 2011
The size of cashable assets held by Korean listed companies increased 4.87 percent last year as they remained reluctant to invest as financial uncertainty continues, data indicated Thursday.
The cashable assets of 616 firms listed on the Seoul main bourse stood at 54.34 trillion won (US$48 billion) at the end of December, up 4.87 percent or 2.53 trillion won from the end of 2010, according to the data by the Korea Exchange and the Korea Listed Companies Association.
The tally compiles the data of companies that close their books in December but excludes those of 52 firms who close their books at other times, usually in March.
Cashable assets include cash, cash equivalents and other financial products with a maturity of less than three months. A rise in cashable assets indicates an improvement in corporate liquidity.
Samsung Electronics Co., the top company by market cap, held the largest cashable assets valued at 2.72 trillion won, followed by Hyundai Motor Co. with 1.51 trillion won and GS Engineering & Construction Co. with 1.4 trillion won. (Yonhap)