| Business Summary | | NewState
Holdings,
Inc.
is
the
holding
company
and
parent
corporation
for
its
network
of
financial
services
companies
in
the
Republic
of
South
Korea.
The
Company's
principal
business
operations
are
located
in
Korea.
The
Company's
principal
operating
subsidiary
in
Korea,
NewState
Capital
Co.,
Ltd.,
is
registered
with
the
Korean
Financial
Supervisory
Commission
as
a
"specialty
finance
company".
The
Company's
current
business
plan
continues
to
focus
on
the
expansion
of
NewState
Capital's
mortgage
origination
efforts
throughout
Korea,
the
development
of
new
mortgage
products
to
Korean
middle-income
families
and
individuals,
and
the
securitization
and
sale
of
its
mortgage
loan
portfolio
as
mortgage-backed
securities
to
public
investors
in
Korea.
The
Company
seeks
to
become
the
leading
residential
mortgage
originator
in
Korea
by
providing
highly
efficient,
responsive
and
sophisticated
loan
servicing
to
Korean
homebuyers. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NewState
Holdings
origintes,
sell
and
services
residential
mortgages
through
offices
in
Seoul,
Taegu,
Changwon,
Jinjum
and
Pusan,
Korea.
NSTH
is
also
developing
a
web
site
that
will
take
mortgage
applications
online.
For
the
three
months
ended
6/01,
revenues
fell
54%
to
$702
thousand.
Net
loss
totalled
$1.8
million
vs.
an
income
of
$7
thousand.
Results
reflect
a
reduction
in
average
mortgage
loans
outstanding
and
lower
mortgage
interest
rates
due
to
increased
competition. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Ernest Kim, 46 Chairman,
Pres, CEO | -- | Alexander Shang, 42 CFO,
Treasurer | -- | Jin Ki Kim, 43 VP,
Sec., Director | $533K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|