...eportDutch Lady Milk Industries Berhad Laporan Tahunan 2011 Annual Report Dutch Lady Milk Industries Berhad is a subsidiary of Royal FrieslandCampina NV. www.frieslandcampina.com This Annual Report is printed on 100% recycled paper BLUE VALUES Believe in Growth Look Forward Unite as One Team Excel in Execution contents Notice of Annual General Meeting Corporate Information Chairman’s Statement Corporate Governance Statement Directors’ Profile Audit Committee Report Corporate Social Responsibility Statement of Internal Control Directors’ Report Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flows Notes to the Financial Statements Statement by Directors Statutory Declaration Independent Auditors’ Report Financial Highlights Additional Compliance Information Other Information Proxy Form • • • • • • • • • • • • • • • • • • • • • 1 3 6 8 14 16 20 24 28 30 31 32 33 34 59 59 60 61 62 63 65 notice of annual general meeting 1 NOTICE IS HEREBY GIVEN that the Forty-Ninth Annual General Meeting of the Company will be held at Hotel Armada, Lorong Utara C, Section 52, 46200 Petaling Jaya, Selangor Darul Ehsan, on Wednesday, 13 June 2012 at 10.00 a.m. for the purpose of transacting the following business: AGENDA AS ORDINARY BUSINESS Ordinary Resolution 1 1 To receive the Audited Financial Statements for the financial year ended 31 December 2011, together with the Reports of the Directors...
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... Mentors Mohammad Musa Ph.D3 Farook Chowdhury4 ECONOMIC RESEARCH GROUP JUNE 2010 1 Senior Associate Professor, Bangladesh Institute of Bank Management (BIBM), Dhaka 2 Associate Professor, BIBM, Dhaka 3 Professor of Finance, School of Business, United International University 4 Program Manager, BMB Mott MacDonald, Dhaka. Published By Economic Research Group (ERG), Dhaka, Bangladesh The papers in this series are published as part of contract under the Small Grants Program, implemented by ERG and BMB Mott MacDonald and supported by the Bangladesh Investment Climate Fund (BICF). BICF is managed by IFC, in partnership with the U.K. Department for International Development and the European Union. Details about the program can be found at http://www.ergonline.org/ifc/index_of_SGAPP.html © Dr. Prashanta Kumer Banerjee, Mohiuddin Siddique, 2010 This publication may be reproduced, stored or transmitted for research and academic works without prior permission of the publisher or the author(s) but proper acknowledgement must be given. For reproduction of the document for other purpose(s) prior permission must be sought from the publisher. For contacts, write to Executive Director Economic Research Group 9/4 Lalmatia, Block D, Dhaka 1207 Email: info@ergonline.org Telephone: 880-2-9135966 Fax: 880-2-9135966 Title: Investment Climate in Bangladesh: Enhanced Role of the Capital Market ERG Working Paper 3/2010 Investment...
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...Introduction In Dec 2010, China airlines Ltd, announced that it had recorded sales revenues of 138.14 Million dollar as for flights carrying people. The company’s Sales Revenue increased by 41 % from Dec 2009 in which the company had achieved 98 Million Dollars. This increase was followed after the company’s announcement in January 2010 that its recorded Sales reached an amount of 358 Million dollars in Dec 2009 including civil and cargo services. These numbers show a huge deficit in the total revenue of flights carrying civilians where the main source of profitability was based and focused on Cargo flights services. Still CAL, China airlines Ltd, didn’t complete its Mission well in terms of increasing profitability and developing its services in order to boost its revenues. Still Civil flights consider covering 38% of the company’s recorded sales. In our paper we stated the company’s Vision, Mission, and Objectives in order to state a plan for developing the company’s civil flights using an edited Business Model. CAL’s problem was in its high costs among competitors who used the LCC (low cost control) in their business in order to create a competitive advantage. In our paper we edited the company’s business model in which we entered some of LCC programs that may attract more customers and compete strongly with competitors. For that CAL developed its systems to be number one leading systems among other airlines especially those in emerging markets such as Mainland china. We...
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... CONTENTS MYTHS AND REALIT IES 6 OVERV IEW OF INVE STMEN T BANK ING INTRODUCTION 4 WHY AN UNOFFICIAL GUIDE TO INVESTMENT BANKING? 3 ASSET 8 MANAGEM ENT 12 GLOBAL BANKING FINANCE 10 GLOBAL MARKETS 16 HUMAN ES RESOURC 20 22 GROUP TECHNOL OG & OPERA Y TIONS LEGAL, RISK & CAPITAL 24 WORKING THE PROCESS TOP TIPS 28 30 GLOSSARY Why an “Unofficial Guide to Investment Banking?” The aim of this guide is to give you a fresh view of investment banking. A brochure is helpful, but can read a little like a catalog. We think you need to know what your life would really be like, challenging out-of-date myths and stereotypes, so you are able to make the most informed decision possible. This is an honest look at investment banking and is based on the experiences of people just like you, who have now gone through the graduate program and come out the other side with blossoming careers. It is the inside story of investment banking written by analysts for graduates, and you won’t hear this tale anywhere else. We’re going to tell you about all the divisions you could work for, what life’s really like for analysts and show you that there’s more to banking than pitch books, power lunches and pinstriped suits. And if you still want to go into banking once you’ve heard the inside scoop, we’ll tell you about how to get there and give you practical tips on interviews and applications. Oh and ...
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... Fifth Edition CHAPTER ONE Introduction to Investing and Valuation Concept Questions C1.1. Fundamental risk arises from the inherent risk in the business – from sales revenue falling or expenses rising unexpectedly, for example. Price risk is the risk of prices deviating from fundamental value. Prices are subject to fundamental risk, but can move away from fundamental value, irrespective of outcomes in the fundamentals. When an investor buys a stock, she takes on fundamental risk – the stock price could drop because the firm’s operations don’t meet expectations – but she also runs the (price) risk of buying a stock that is overpriced or selling a stock that is underpriced. Chapter 19 elaborates and Figure 19.5 (in Chapter 19) gives a display. C1.2. A beta technology measures the risk of an investment and the required return that the risk requires. The capital asset pricing model (CAPM) is a beta technology; is measures risk (beta) and the required return for the beta. An alpha technology involves techniques that identify mispriced stocks than can earn a return in excess of the required return (an alpha return). See Box 1.1. The appendix to Chapter 3 elaborates on beta technologies. C1.3. This statement is based on a statistical average from the historical data: The return on stocks in the U.S. and many other countries during the twentieth century was higher than that for bonds, even though there were periods when bonds performed...
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...Manifesto for the Chief Executive Election 2012 C.Y. Leung ONE HEART, ONE VISION C.Y. Leung 1 4 1. Population and Human Resources 10 2. Land Planning and Transportation 16 3. Economic Policy 22 4. Housing 34 5. Education 39 6. Social Welfare 44 7. Medical and Health Services 51 8. Religion, Culture and Arts 56 9. Sports Policy Table of Content Foreword 62 10. Environment Protection and Conservation 66 11. Administrative and Political System 72 Epilogue 80 ONE HEART, ONE VISION 2 3 Election 2012, has provided me with a much deeper understanding of the expectations of different sectors in our society. And, at the same time, it has strengthened my resolve to serve the community as a whole. During this period, my campaign team and I have visited all 18 districts, held consultative gatherings ~ "Together we write the Manifesto" ~ and met with people from all walks of life at close quarters. We listened to the views expressed by ordinary people, who make up the majority of the population, and we talked to business people, both big corporations and local traders alike. We attended numerous other activities, met with Members of the Election Committee and answered their queries. Every step of the way, we were accompanied by the media, reporting and helping us to spread our messages to those who were not able to come to the gatherings. We were mindful that every proposal which...
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...O’Reilly’s Solid Conference.” — Wired The traditional boundaries between hardware and software are falling. It’s a perfect storm of opportunity for a software-enhanced, networked physical world. The new products and services created from the melding of software, hardware, and data are built by people who work across disciplines and industries. A vibrant new community is emerging, made up of business and industry leaders, software developers, hardware engineers, designers, investors, startup founders, academics, artists, and policy makers—many of whom have never come together before. They gather at Solid to be inspired, to make connections and launch conversations, and to plug into the future for a few days. Will you be a part of it? Find out more at solidcon.com What Is the Internet of Things? Mike Loukides and Jon Bruner What Is the Internet of Things? by Mike Loukides and Jon Bruner Copyright © 2015 O’Reilly Media, Inc. All rights reserved. Printed in the United States of America. Published by O’Reilly Media, Inc., 1005 Gravenstein Highway North, Sebastopol, CA 95472. O’Reilly books may be purchased for educational, business, or sales promotional use. Online editions are also available for most titles (http://safaribooksonline.com). For more information, contact our corporate/institutional sales department: 800-998-9938 or corporate@oreilly.com. January 2015: First Edition Revision History for the First Edition 2015-01-13: First Release While the publisher and the author(s)...
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...ANNUAL REPORT Building A Global Brand What’s the value in a brand name? Everything. A brand that is reputable and stands apart from others provides competitive advantage, confirms credibility, adds value to a company and ensures long lasting customer relationships. As an organisation that has been around for more than three decades, the DRB-HICOM name is one that needs no introduction. It is an organisation that prides itself on always staying ahead of the game, in setting high standards in all its endeavours and constantly challenging the status quo. With a portfolio of more than eighty operating companies in its stable, the Group’s diversity elevates it to a brand with unique character and promise. PROTON, Alam Flora, PUSPAKOM, Pos Malaysia, MODENAS, Bank Muamalat, Glenmarie Properties – these are some of the household names that form a part of the DRB-HICOM Group. From the Automotive and Services sectors to the Property, Asset and Construction sector, DRB-HICOM’s operating companies have always had a strong presence in the local market. Helmed by bold leadership and imbued with core values, strong work ethics and a vision to be number 1, the DRB-HICOM brand is well-positioned to go a step further to become a leading global brand in the future. OUR VISION to be number 1 and continuously excel in all that we do OUR MISSION to lead in the growth of the nation in the areas of DRB-HICOM’S core businesses SHARED VALUES excellence decorum teamwork integrity...
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...ANNUAL REPORT Building A Global Brand What’s the value in a brand name? Everything. A brand that is reputable and stands apart from others provides competitive advantage, confirms credibility, adds value to a company and ensures long lasting customer relationships. As an organisation that has been around for more than three decades, the DRB-HICOM name is one that needs no introduction. It is an organisation that prides itself on always staying ahead of the game, in setting high standards in all its endeavours and constantly challenging the status quo. With a portfolio of more than eighty operating companies in its stable, the Group’s diversity elevates it to a brand with unique character and promise. PROTON, Alam Flora, PUSPAKOM, Pos Malaysia, MODENAS, Bank Muamalat, Glenmarie Properties – these are some of the household names that form a part of the DRB-HICOM Group. From the Automotive and Services sectors to the Property, Asset and Construction sector, DRB-HICOM’s operating companies have always had a strong presence in the local market. Helmed by bold leadership and imbued with core values, strong work ethics and a vision to be number 1, the DRB-HICOM brand is well-positioned to go a step further to become a leading global brand in the future. OUR VISION to be number 1 and continuously excel in all that we do OUR MISSION to lead in the growth of the nation in the areas of DRB-HICOM’S core businesses SHARED VALUES excellence decorum teamwork integrity...
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...HKIA’s Third Runway —The Key for Enhancing Hong Kong’s Aviation Position (28/11/2007) by Dr. Cheung Kwok Law Professor Michael Fung Professor Japhet Law Dicky Tse Ka Yan Chan Aviation Policy and Research Center, Department of Decision Sciences and Managerial Economics The Chinese University of Hong Kong © Content Chapter 1 1.1 1.2 1.3 Objectives of the Study Background Objectives Research Framework 1 1 2 4 5 5 6 10 10 11 16 18 18 21 22 27 27 29 30 32 32 34 35 35 40 44 46 48 48 49 50 51 54 56 62 Chapter 2 Regional Airports’ Development and Expansion 2.1 Asian Aviation Hubs 2.2 Mainland Major Airports Chapter 3 3.1 3.2 3.3 Regional Demand Forecast for Aviation Services Rapid Growth in Asia-Pacific’s Air Transport The Increasing Importance of China’s Aviation Market Hong Kong’s Aviation Development under Mainland’s Rapid Growth Chapter 4 Capacity Issues and Enhancement Measures for HKIA 4.1 The Capacity of the Hong Kong International Airport 4.2 Runway Capacity Enhancement Measures 4.2.1 Aircraft Types Trends and its effects to Runway Capacity 4.3 Possible Measures 4.3.1 Air Transport Management Approach 4.3.2 Enhanced ATC & Aircraft Equipment, Technology, Procedures and Manpower 4.3.3 Expansion of Auxiliary Airside Facilities 4.3.4 Peak Spreading 4.3.5 Aircraft Size Restrictions 4.4 Conclusions Chapter 5 5.1 5.2 5.3 5.4 Selected Case Studies for Building New Runways London Heathrow Airport third Runway Manchester International Airport Second Runway Tokyo Narita...
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...Emerging Markets Perspectives - CEO Insights Emerging Markets Perspectives - CEO Insights 1 Convergence & Differentiation What is success in a connected world?* Methodology This report was developed to provide a unique perspective from which to view the successes of companies based in emerging markets. While there are many reports providing valuable insights on how multinationals can expand into emerging markets, very few take a systematic approach towards looking at how emerging-market companies have not only fended off developed-world multinationals, but also found their own ways to expand into foreign markets. In addition to drawing on the insights of PricewaterhouseCoopers partners and associates from every market, we relied on two additional sources: 1. The 11th Annual PwC Global CEO Survey: The authoritative analysis of CEO views on business opportunities and risks of operating in an increasingly connected world. PricewaterhouseCoopers has published the survey for more than a decade, reaching out to more than 1,100 chief executive officers worldwide. The 11th Annual Global CEO Survey was launched in January 2008 at the World Economic Forum’s annual meeting in Davos. The survey data were re-analysed for this report at the country level as well as by contrasting insights from developed versus emerging markets. For the purposes of this report, we define “developed nations” to include 19 economies, including the United States and Canada, 15 in Western Europe, Japan...
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...the world, is evaluated in this assignment to date of 31st December 2012. During evaluation by multiplier method the multipliers “price-earnings-ratio” and “market capitalization / EBITDA” were chosen and as peer companies British American Tobacco p.l.c., Imperial Tobacco Group p.l.c. and Japan Tobacco Inc. were used. The result of Philip Morris International evaluation by multiplier method is a value between $111 billion and $160 billion. The theoretical analysis of the different evaluation methodologies indicated that an evaluation by multiplier method can only give a rough guidance of the real corporate value. The evaluation by DCF method result a company value of Philip Morris International between $120 billion (Equity approach) and $152 billion (Entity approach). In this assignment it is clear that each of the evaluation methodologies may exert advantages and disadvantages. It also explicit that any evaluation method can be influenced both positively and negatively, e.g. by changing the WACC, interest rate, multiplier and peer...
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...4/23/2011 Form 10-K 10-K 1 d10k.htm FORM 10-K Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-5231 McDONALD’S CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-2361282 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One McDonald’s Plaza Oak Brook, Illinois (Address of principal executive offices) 60523 (Zip code) Registrant’s telephone number, including area code: (630) 623-3000 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Title of each class Common stock, $.01 par value New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Act. Yes No...
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...Inle Lake wetland Sanctuary The lake is 22 kilometers long, 11 kilometers wide and virtually surrounded by the beautiful Shan mountain ranges. Inle Lake is the county’s second biggest lake after Indawgyi Lake in Kachin State. The inhabitants of the Inle Lake are generally known as In-Thas. Specifically, the region’s menfolk are called In-Tha and womenfolk are called In-Thu. They live in houses built in and around the lake, some partly on the lake bank and partly in the water, some on lands bordering the lake bank, some in the water near the bank. They are known for their industrious and persevering mindset, which has helped them survive by growing a wide variety of flowers, vegetables and fruits on the water on floating islands that are attached to the lake bed with long bamboo poles. The floating water hyacinth and tomato are the major products of the region. Many handmade accessories such as bags, shawls, headdresses, baskets and even robes for the monks are made from water hyacinth. The lake is also eminent for its Floating Market nearby Ywama village which is run on every 5 days with Shan ethnic people. Nga Hpe Chaung Monastery, also known as Jumping Cat Monastery as the monks have trained their cats to show acrobatic jump, near Ywama village is also one of the fantastic places to visit in Inle Lake. Site Profile Location * Located between 20° 10′ N and 97° 02′ E in Naung Shwe, Pinlaung and Peh Kon Townships of Southern Shan State. Elevation over 2900 feet. Area...
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...PT Indomobil Sukses Internasional Tbk. dan anak perusahaan/and subsidiaries Laporan keuangan konsolidasi beserta laporan auditor independen tahun yang berakhir pada tanggal-tanggal 31 Desember 2010, 2009 dan 2008/ Consolidated financial statements with independent auditors’ report years ended December 31, 2010, 2009 and 2008 The original consolidated financial statements included herein are in Indonesian language. PT INDOMOBIL SUKSES INTERNASIONAL Tbk. DAN ANAK PERUSAHAAN LAPORAN KEUANGAN KONSOLIDASI BESERTA LAPORAN AUDITOR INDEPENDEN TAHUN YANG BERAKHIR PADA TANGGAL-TANGGAL 31 DESEMBER 2010, 2009 DAN 2008 PT INDOMOBIL SUKSES INTERNASIONAL Tbk. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS WITH INDEPENDENT AUDITORS’ REPORT YEARS ENDED DECEMBER 31, 2010, 2009 AND 2008 Daftar Isi Table of Contents Halaman/ Page Laporan Auditor Independen Independent Auditors’ Report Neraca Konsolidasi …………………………………… 1-4 ………………………....Consolidated Balance Sheets Laporan Laba Rugi Konsolidasi …………………….. 5-6 ………………… Consolidated Statements of Income Laporan Perubahan Ekuitas Konsolidasi ………….. 7-8 ……. Consolidated Statements of Changes in Equity Laporan Arus Kas Konsolidasi ……………………… 9-10 …………….Consolidated Statements of Cash Flows Catatan atas Laporan Keuangan Konsolidasi …….. 11-214 ……Notes to the Consolidated Financial Statements *************************** The original consolidated financial statements...
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