...*Please describe why you have chosen to apply to UBS As a postgraduate student from LSE, I have given serious thoughts to a graduate program where I will be consistently challenged and a workplace where I can best utilize my skills to create a positive difference. The UBS GTP will not just give me crucial work related experience but also equip me with the necessary skills to advance myself in other areas of the industry through cross business learning. The dynamic and high pressure environment at UBS, which stems from its bold and aggressive banking style, will elevate my intellectual curiosity and bring the absolute best out of my abilities. One of the most important factors to me in choosing a working environment is the level of mutual support and inclusivity which is embedded in UBS’ culture through its strong mentorship initiative intended to aid graduates’ development. This initiative is further reinforced by the team oriented and respectful spirit of UBS to create a harmonious yet competitive environment. I am also particularly drawn to UBS’ dedication to nurturing and investing into the distinctly diverse talents of its people. This means that UBS not only demands but gives the best to its people, ensuring that mutual success is achieved through the cultivation and retention of high caliber individuals. Finally, UBS is the epitome of working in a meritocracy. Its performance measurement and management process guarantees that honest and quality hard work are measured...
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...Structural Issues in HK Airlines HK Airlines Senior Management : |Member |Title | |Mr. ZHANG Kui |President, Hong Kong Airlines Limited | |Mr. WANG Liya |Executive Vice President, Hong Kong Airlines Limited | |Mr. WAN Ning |Vice President, Hong Kong Airlines Limited | |Mr. ZHONG Guosong |Vice President, Hong Kong Airlines Limited | |Mr. WU Hao |Chief Financial Officer, Hong Kong Airlines Limited | |Mr. WONG Ching Ho, Ben |Chief Operating Officer, Hong Kong Airlines Limited | |Mr. LI Dianchun |Chief Commercial Officer, Hong Kong Airlines Limited | HK Airlines Organization Chart As previous section 4 stated, the goal of our marketing plan is to explore more long-haul routes proactively by re-launch long-haul flight to Malives in order to increase our sales revenue by 1.2 percent over the upcoming three-year. We have three areas of objectives: Promotional, Gain Market Share and Substantially Profitable. We have...
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...SU HAN CHAN KO WANG HONG KONG DRAGON AIRLINES LIMITED (A): DETERMINING THE COST OF CAPITAL In early January 2006, a taskforce at Hong Kong Dragon Airlines (“Dragonair”) led by engineering manager John Walters and finance manager Bevis Ho was formed to evaluate ways to replace a spare engine that had been determined to be beyond economic repair (“BER”).1 A few potential options were on the table: either to purchase the engine outright or to lease the engine via a direct lease or a sale-and-leaseback arrangement. In order to assess and compare the attractiveness of each option, the taskforce first had to determine the appropriate discount rate to use. Dragonair: Company Background2,3,4 Hong Kong-based Dragonair was founded in May 1985 as a wholly owned subsidiary of Hong Kong Macau International Investment Co by local industrialist K.P. Chao. The airline started operations in July 1985 with a Boeing 737 and service between Hong Kong and Kota Kinabalu in Malaysia. With a fleet of only one aircraft, Dragonair was known in its early days as the “when-it’s-in-the-air-there’s-nothing-on-the-ground” airline. After much effort by Chao to rally support from both the Chinese central government and the British government, Dragonair began service to Phuket and six cities in mainland China in 1986. In 1990, CITIC Pacific, the Swire Group 5 and Cathay Pacific Airways (“Cathay Pacific”) acquired an 89% stake in Dragonair. After the acquisition, Cathay Pacific transferred...
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...Hong Kong Dragon Airlines Case A In this case, Hong Kong Dragon Airlines was trying to figure out the appropriate discount rate in order to determine whether purchase or lease an engine for replacing the spare one. Since Dragon Airlines was acquired by another main Hong Kong airline company ‘Cathay Pacific’, we shall use the data of Cathay pacific to find out the weighted average cost of capital. Unfortunately, Cathay Pacific does not issue any bonds that there is no bond or credit rating to assist us calculate the cost of debt. I chose to use the credit rating of Singapore Airlines as an alternative, because according to Hoover’s.com, they have very similar size, revenue and net profit margin with Cathay Pacific. They are also main competitors to each other. The credit rating of Singapore Airline from 2003 to 2004 is not provided. Instead the credit rating is provided in the period of 2011-2012. According to their annual report of 2011-2012, roughly 80% of their financial assets are rated with grades of A to Aaa and 0% of them are rated at Baa. Therefore their credit rate is approximately Aa, in which this case, the bond yield spread over treasuries is 0.9%, the risk-free rate is 0.43% and the risk premium is 0.43%. By calculation, the cost of debt is 0.7% and cost of equity is 0.89% by using CAPM approach. After a brief discussion with Joseph Mann, the total equity is $32989 which equals the sum of share capital, reserves, and minority interest. Total debt is $22631 which...
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...Cathay Pacific Airways Introduction Cathay Pacific Airways was founded in 1946. It is an airline from Hong Kong. It takes passenger and cargo to over 120 cities world-wide. Its main base is at Hong Kong International Airport. In addition to the fleet of aircraft, these investments include catering, aircraft maintenance and ground handling companies, as well as the corporate headquarters at Hong Kong International Airport. Cathay Pacific and its subsidiaries and associates employ over 20,000 staff in Hong Kong. The airline's two major shareholders are both Hong Kong companies listed on the Hong Kong Stock Exchange, as is Cathay Pacific itself. Cathay Pacific is the major shareholder in AHK Air Hong Kong Limited, an all cargo carrier that offers scheduled services in the Asia region, and is a shareholder in Hong Kong Dragon Airlines Limited. Cathay Pacific is one of the six airlines in the world to get a five star rating from Skytrax. It won "Airline of the Year" award from Skytrax in 2003, 2005 and 2009. Its sister airline is Dragonair which serves destinations in mainland China and Asia, the member of the oneworld global alliance whose combined network serves over 700 destinations worldwide. Anticipated problem/limitation We can found many information, data, literature in the internet and library, but it had many things that didn’t need. We need to look thought those information, then classify it and choose what we need. Also, there had many literatures in the internet...
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...Green Application for Event Marketing & Promotion MKT4402S By Leung Oi Shan Shanna 111146870 21917S Mr. Chiu 19TH December 2012 Table of Contents Introduction Hong Kong is ready to celebrate the Year of the Dragon in spectacular style with the 17th International Chinese New Year Night Parade. As usual, Hong Kong keep paying much effort on the boosting the tourism, especially when it comes to a celebration. Of the endless excuses to party year-round in the city, the biggest of all is Chinese New Year. Organized by the Hong Kong Tourism Board (HKTB), the 2013 Cathy Pacific International Chinese New Year Night Parade will live out its theme "World City. World’s Happiest Party", offering spectators a fun-filled, memorable and unique carnival in the first evening of the Chinese New Year. Then, just follow our guide to the festival’s customs and events to make this Hong Kong experience as memorable as can be. Hong Kong enjoys a reputation for its vibrant Chinese New Year celebrations and had been ranked by Forbes magazine as one of the world's 10 best events. The Parade, being one of the highlights, features a total of 35 floats and performing groups from 12 countries and regions. This year's international performing units include the Saga Karatsu Kunchi Sea Bream Float from Japan, which has a history of more than 160 years; the world-acclaimed Guangzhou Acrobatic Troupe of China that assimilate modern dance and artistic gymnastics. Adding more to...
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...the first priority for passengers. (1) Cathay has been gained the world’s safety airline for the 3rd years by Germany’s Jet Arline Crash Data Evaluation Centre (2). High safety standard can get the trust of the passengers. - Global network/ Wide coverage Both Cathay and Cathay Dragon reaching more than 90 destinations, throughout Asia, the Pacific, Europe, North America, the Middle East and Africa. Cathay also a member of “Oneworld” an alliance of the world’s leading airlines, passengers can travel over 1000 destination under the alliance. At March 2017, Cathay with the Lufthansa Group accomplished a co-operation agreement. Under the agreement, Cathay Pacific will...
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...In 1907, Jim Casey, started American Messenger Company (AMC) with an initial investment of $100. His intention was to offer delivery services of the highest quality at the lowest price to the customers. Later AMC was merged with Motorcycle Delivery Company and company was named Merchants Parcel Delivery Company (MPDC). In 1919, MPDC was renamed as United Parcel Services. UPS commenced its business in China in 1988 through an agent partnership relationship with China’s biggest freight forwarder, China National Foreign Trade Transportation group. UPS followed a low investment strategy, for almost a decade, during which, it entered into alliances with airline companies such as Hong Kong Dragon Airlines and China Eastern Airlines Corp that provided delivery services in China. By the end of 1995, the company had established its presence in 21 cities in China leveraging on its partnership with China National Foreign Trade Transportation group. When it came to advertising, unlike FedEx, UPS used less advertising. It preferred to project itself as a local Chinese company. UPS targeted the local Chinese customers following a personalise approach. The company attempted to adapt its services according to the customs and traditions in the Chinese customers. While making the investments, UPS decided to make investments according to the market conditions in China. Till 1997, UPS had invested significantly...
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...Bakgroud of Malaysia Airlines System Berhad Scheduled air passenger and mail services in Malaya commenced in 1937 when Wearne's Air Service (WAS) commenced operating services between Singapore, Kuala Lumpur and Penang. Wearne's Air Service was started by two Australian brothers, Theodore and Charles Wearnes. The service commenced as a thrice weekly flight between Singapore and Penang The first flight, using an 8-seater de Havilland DH.89A Dragon Rapide took place on 28 June 1937 This inaugural flight departed Singapore from the then brand-new Kallang Airport which had just opened earlier in the same month on 12 June Later a second D.H.89A enabled the expansion to daily services as well as the addition of Ipoh as a destination. The WAS services ceased with the onset of the Second World War Japanese occupation of Malaya and Singapore. An initiative by the Alfred Holt's Liverpool-based Ocean Steamship Company, in partnership with the Straits Steamship Company and Imperial Airways, resulted in the incorporation in Singapore on 12 October 1937, Malayan Airways Limited (MAL). But the first paying passengers could be welcomed on board only some 10 years later. After the war, MAL was restructured to include just the partnership of Straits Steamship and Ocean Steamship. The airline's first flight was a charter flight from the British Straits Settlement of Singapore to Kuala Lumpur, on 2 April 1947, using an Airspeed Consul twin-engined aircraft. This inaugural flight on the "Raja Udang"...
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...CASE 21 The Not-So-Wonderful World of EuroDisney*—Things Are Better Now at Disneyland Resort Paris BONJOUR, MICKEY! In April 1992, EuroDisney SCA opened its doors to European visitors. Located by the river Marne some 20 miles east of Paris, it was designed to be the biggest and most lavish theme park that Walt Disney Company (Disney) had built to date—bigger than Disneyland in Anaheim, California; Disneyworld in Orlando, Florida; and Tokyo Disneyland in Japan. Much to Disney management’s surprise, Europeans failed to “go goofy” over Mickey, unlike their Japanese counterparts. Between 1990 and early 1992, some 14 million people had visited Tokyo Disneyland, with three-quarters being repeat visitors. A family of four staying overnight at a nearby hotel would easily spend $600 on a visit to the park. In contrast, at EuroDisney, families were reluctant to spend the $280 a day needed to enjoy the attractions of the park, including les hamburgers and les milkshakes. Staying overnight was out of the question for many because hotel rooms were so high priced. For example, prices ranged from $110 to $380 a night at the Newport Bay Club, the largest of EuroDisney’s six new hotels and one of the biggest in Europe. In comparison, a room in a top hotel in Paris cost between $340 and $380 a night. Financial losses became so massive at EuroDisney that the president had to structure a rescue package to put EuroDisney back on firm financial ground. Many French bankers questioned the initial financing...
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...Strategic Management Group Project Virgin Atlantic Airways Limited Instructor: Mr. Audun Fiskerud Presented by: Mikael Tving Therkildsen - Jacob Brodersen – Jonas Ravn Nielsen - Gary Chuyu Fang Executive summary This report strategically analyses the Strategy Business Unit (SBU), passenger transfer service, for Virgin Atlantic Airways Limited. The strategic analysis contains investigation of certain key business areas of Virgin Atlantic, such as: defining whom the Virgin Atlantic customer is; understanding of the external environment issues of the airline industry; competitor analysis, and analysis of the Human Resources within the organization. Through the analysis of Virgin Atlantic Airways Limited, some issues for the company were uncovered. Especially two main issues should be considered as potential problems for Virgin Atlantic’s business unit and so action needs to be taken within these areas: 1. Lacking economy of scale (size of the company). 2. Increasing environmental awareness among customers. 1. Virgin Atlantic lacks economy of scale because of the size of the company and limited routes available. To be able to compete effectively and gain greater profits through economy of scale, Virgin Atlantic has to expand by opening new routes. The implementation of this will require strategic financial planning and adjustment of the company structure. It is likely that this process will take several years; however, this change is necessary to increase Virgin...
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...Youth HONG KONG Hong Kong is home FEATURES Fitness and nutrition Pollution YouTubers HKFYG Cover image by 羅潤龍 by Yun Huang Yong https://www.flickr. com/photos/goosmurf/5899151996/ YOUTH HONG KONG published quarterly by The Hong Kong Federation of Youth Groups EDITORIAL BOARD Rosanna Wong Elaine Morgan (Editor) Ada Chau (Assistant Editor) Angela Ngai Lakshmi Jacotă William Chung Henry Poon CIRCULATION (unaudited) 11,000-12,000 in Hong Kong, throughout the region and overseas VIEWS EXPRESSED are the authors’ and interviewees, may come from official sources, and do not necessarily reflect the views of the editorial board or publisher REPRODUCTION OF CONTENTS without written permission from the publisher is prohibited INTERVIEWS Elaine Morgan, Lakshmi Jacotă, Ada Chau PERSPECTIVES CONTRIBUTORS Ben Tse Elena Ng Mimi Mo Jessica Chan Ajmal Samuel Elaine Morgan SELECETD YOUTH SPEAK CONTRIBUTORS Lin Kristy, Ernest Chau Christy Chu Joy Pamnani Ivy Ho, Kevin Li Ho-lam, Gigi Chau Pansy Tam OTHER CONTRIBUTORS Virginia Addison Education Post Cathay Pacific Kate Yung Hilary Lok HKFYG unit staff TRANSLATION Henry Poon Ada Chau PHOTOGRAPHS Courtesy of HKFYG Very Hong Kong competition entrants, as captioned. Other photographs by Elaine Morgan, Ada Chau, acknowledged as captioned, or in public domain ARTWORK Sam Suen, DG3 DESIGN, LAYOUT & PRINTING DG3 Asia Ltd ISSN 2071-3193 WEB youthhongkong.hkfyg.org.hk CORRESPONDENCE to The Editor, Youth Hong Kong, 21/F, The Hong Kong Federation...
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...CASE 21 The Not-So-Wonderful World of BONJOUR, MICKEY! In April 1992, EuroDisney SCA opened its doors to European visitors. Located by the river Marne some 20 miles east of Paris, it was designed to be the biggest and most lavish theme park that Walt Disney Company (Disney) had built to date—bigger than Disneyland in Anaheim, California; Disneyworld in Orlando, Florida; and Tokyo Disneyland in Japan. Much to Disney management’s surprise, Europeans failed to “go goofy” over Mickey, unlike their Japanese counterparts. Between 1990 and early 1992, some 14 million people had visited Tokyo Disneyland, with three-quarters being repeat visitors. A family of four staying overnight at a nearby hotel would easily spend $600 on a visit to the park. In contrast, at EuroDisney, families were reluctant to spend the $280 a day needed to enjoy the attractions of the park, including les hamburgers and les milkshakes. Staying overnight was out of the question for many because hotel rooms were so high priced. For example, prices ranged from $110 to $380 a night at the Newport Bay Club, the largest of EuroDisney’s six new hotels and one of the biggest in Europe. In comparison, a room in a top hotel in Paris cost between $340 and $380 a night. Financial losses became so massive at EuroDisney that the president had to structure a rescue package to put EuroDisney back on firm financial ground. Many French bankers questioned the initial financing, but the Disney response was that their views reflected...
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...CASE 21 The Not-So-Wonderful World of EuroDisney*—Things Are Better Now at Disneyland Resort Paris BONJOUR, MICKEY! In April 1992, EuroDisney SCA opened its doors to European visitors. Located by the river Marne some 20 miles east of Paris, it was designed to be the biggest and most lavish theme park that Walt Disney Company (Disney) had built to date—bigger than Disneyland in Anaheim, California; Disneyworld in Orlando, Florida; and Tokyo Disneyland in Japan. Much to Disney management’s surprise, Europeans failed to “go goofy” over Mickey, unlike their Japanese counterparts. Between 1990 and early 1992, some 14 million people had visited Tokyo Disneyland, with three-quarters being repeat visitors. A family of four staying overnight at a nearby hotel would easily spend $600 on a visit to the park. In contrast, at EuroDisney, families were reluctant to spend the $280 a day needed to enjoy the attractions of the park, including les hamburgers and les milkshakes. Staying overnight was out of the question for many because hotel rooms were so high priced. For example, prices ranged from $110 to $380 a night at the Newport Bay Club, the largest of EuroDisney’s six new hotels and one of the biggest in Europe. In comparison, a room in a top hotel in Paris cost between $340 and $380 a night. Financial losses became so massive at EuroDisney that the president had to structure a rescue package to put EuroDisney back on firm financial ground. Many French bankers questioned ...
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...rooms) in alabang, f1 city center (240) in bonifacio global city and the recently completed remington hotel (300 units) in new port city. As of 2h 2011, overall hotel occupancy was at 65% while room rates for both five-star and four-star remain generally stable at us$255 to us$260 per night. Expectation on occupancy is to exceed 65% at the end of this year considering the increase in visitor arrivals particularly towards the holiday season Supply Investors are kept positive in their outlook on the hotel and leisure industry as key market scenarios had a favourable impact on the tourism sector last year. This includes the rise in business and leisure travel which was driven by competitive travel packages, discounted rates of different airlines and agencies, and heightened local tourism campaigns, over a backdrop of a generally stable economy. The latest government data shows that in the first eleven months of 2011, international arrivals reached 3,522,887 or a 12.6% increase over the same period a year ago, even topping the total arrivals of 3,520,471 recorded in the full year of 2010. Similarly, air passengers continued to increase by 14.1% to 14.03 million from January to September last year. As a result, hotel room inventories in Metro Manila continue to increase annually with last year posting over 800 new units delivered. These hotels include Acacia Grove Hotel (262 rooms) in Alabang, F1 City Center (240) in Bonifacio Global City and the recently completed Remington Hotel...
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