...Oil Dilemma in Indonesia Natural Resource Economics 601 – Lecturer: John Karasinski Word Count – 2,016 (not including Tables and Figures) Aaron Smith: 1662 4483 Leonardo Molinari: 1728 4820 Reuben Dias:1313 9900 Group Assignment 2 Palm Oil Dilemma in Indonesia Executive Summary Indonesia’s GDP is estimated at $US868 billion in 2013, which classifies it as a lower middle income country. GDP growth has averaged almost 6% over the last decade with a population growth averaging at 1.4%. Indonesia’s population is expected to grow at an annual growth rate of 0.57% to over 271 million by 2030. Indonesia’s industrial sector largely dominates production, contributing over 48% to aggregate economic activity (including oil and gas which accounts for 10% of GDP). The palm oil industry has the potential to generate significant social and economic development in Indonesia. It is Indonesia’s largest agricultural export and provides income and economic development to the large proportion of rural poor Indonesia. In recent decades the global market for palm oil has seen exponential growth with current production estimated at over 45 million tons, with Indonesia being one of the world’s, largest producers and exporters, producing over 18 million tons of palm oil annually. Although only contributing 8 % to GDP, the palm oil plantations provide for around two thirds of rural household incomes. Over 41% of plantations were owned by small land holders and produced 6.6 million tons of...
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...11 March 2011 Food Producers Palm Oil – Extracting Value Rachel Galvez +44 20 7444 0679 rachel.galvez@religarecm.com Palm Tree Nursery Palm Oil Sector – Extracting Value We launch coverage on the London listed Palm Oil sector with a positive view as we believe the industry will continue to grow and current production will struggle to meet global demand. In our view, companies (such as the ones under our coverage) that have; agricultural land rights in equatorial regions (where oil palms thrive), industry expertise, experienced management teams, and access to capital, have defensible competitive advantages and are likely to experience earnings growth and margin expansion going forward. New Britain Palm Oil (NBPO LN, BUY, 1,197p price target, 23% upside) NBPO produces sustainable and traceable Palm Oil in Papua New Guinea (PNG), which it sells to European markets. We believe the company’s competitive advantages, (the traceability and sustainability of its oil, above industry average yields, land and other assets, management team and industry relationships) will enable it to increase sales, expand margins and maintain a market leading position going forward. Asian Plantations (PALM LN, BUY, 345p price target, 29% upside) Source: MP Evans Palm Tree Plantation Asian Plantations is involved in the acquisition and development of Palm Oil plantation land in Sarawak, Malaysia. We believe the company will be able to execute on its strategy (acquiring undeveloped land...
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...1.0 INTRODUCTION Oilene Refineries’ management was unhappy with the quality of crude palm oil (CPO) delivered by Palm Haul Sdn Bhd (PHSB), their transporter. The contract will expire within the month. Oilene Refineries will have to analyse the scenario and make a decision whether to renew the contract with PHSB or find other solutions. 1.1 GENERAL INFORMATION –Crude Palm Oil (CPO) transportation * Approximately 1,500 tankers transporting CPO from the mills (where palm kernels are harvested) to the refineries (where palm kernels are processed for CPO extraction) in the peninsular and East Malaysia. * Palm oil estates operated by MNC have their own mills while smallholders send their palm kernels to co-operative mills for processing. * Once the CPO is extracted, it is then sold to refineries where it is refined for local consumption or export. These refineries are concentrated in areas where palm oil cultivation is a major activity. * The refineries commonly OUTSOURCE the transportation of CPO to transport companies. The transport companies are responsible to deliver consignments of CPO from the mills to the refineries. * The tankers have to be modified to carry CPO. * Approximately 17.73 million metric tonnes are moved yearly from the mills to the refineries by the tankers operated by transport companies. * Gross profit margins: 35%-45% * Administrative overheads are low. Net profit can be made if operated efficiently. * Achilles’Heel...
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...MASTERPLAN ACCELERATION AND EXPANSION OF INDONESIA ECONOMIC DEVELOPMENT 2011-2025 R EPUBLIC OF I ND ON ES IA Doc. Wijaya Karya Masterplan for Acceleration and Expansion of Indonesia Economic Development © Copyright Coordinating Ministry For Economic Affairs, Republic of Indonesia Published by Editor Design by : Coordinating Ministry For Economic Affairs : Deputy Minister for Coordinating Infrastructure and Regional Development, Coordinating Ministry For Economic Affairs : IndoPacific Edelman First Published 2011 All Rights Reserved Coordinating Ministry For Economic Affairs, Republic of Indonesia Masterplan for Acceleration and Expansion of Indonesia Economic Development Jakarta: Coordinating Ministry For Economic Affairs, 2011 212 pages; 28 x 30 cm ISBN 978-979-3754-14-7 Masterplan aCCeleratIOn anD eXpansIOn OF InDOnesIa eCOnOMIC DeVelOpMent 2011-2025 Coordinating Ministry For Economic Affairs Republic of Indonesia 6 Masterplan P3EI Abstract Doc. Astra Otoparts Doc. Wijaya Karya Doc. Wijaya Karya Table of Contents Preface from The President of Republic of Indonesia Abstract Historical Breakthrough in the Making of MP3EI 1. The Self-Sufficient, Advanced, Just, and Prosperous Indonesia A. Preface B. Acceleration and Expansion of Indonesia Economic Development C. Indonesia’s Position Within The Regional and Global Dynamics D. Indonesia’s Potential and Challenges E. Acceleration of Economic Transformation - A New Way of Working...
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...IDEAs WORKING PAPER SERIES Paper no. 01/2012 Fiscal Policy Evolution and Distributional Implications: The Indonesian experience Smitha Francis Abstract This paper analyses Indonesia’s resource mobilisation and public expenditure policies against the backdrop of her inequality trends and macroeconomic policy evolution. It is argued that the country’s fiscal policy stance has been adversely impacted by her monetary and financial sector policies under an open capital account, with attendant regressive distributional implications. Juxtaposing the analysis of revenue mobilisation trends and taxation policies with the evidence of increasing asset and land concentration and persisting high inequalities reveals that the increase in income tax revenue did not necessarily come from the upper income profiles or corporate profits. Meanwhile, although government expenditure to GDP ratio has improved after 2003, capital expenditures and social expenditures other than those in education continue to remain low. Further, the current pattern of fiscal decentralisation does not seem to be effective in addressing the existing disparities. JEL Classification H 200; H 500; H 700 Key Words Indonesia, fiscal policy, public finance, inequality, taxation, revenue, government expenditure, financial liberalisation, IMF debt conditionalities, decentralisation Smitha Francis is Principal Economist, Economic Research Foundation, New Delhi. Email for correspondence: smithafrancis@gmail.com THE...
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...financialanalysts@kcubez.com and new markets and strong financial position. Key Opportunities – Looking Forward S$6.65 Current Price S$6.32 Target Horizon 12 months STI Index 2,672.57 STOCK INFORMATION Bloomberg Code WIL SP HISTORICAL CHART Reuters Code WLMIF.PK Market Cap(m) 40357.51 52-week High S$6.99 52-week Low S$1.80 Listing Bourse SGX Mainboard Average Volume (‘000) 10683.9 Beta 0.875 • Improving global economy • PRICE Target Price Wilmar International is well-positioned due to its investment in core businesses Positive growth prospects in emerging markets • Wilmar’s emphasis on growth in China, India and Indonesia • Resilient global demand for food and agricultural commodities We rate Wilmar International Ltd a HOLD with a target price of S$6.65. The Group...
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...Janata Bank Limited, a second-generation bank of the country and make an industry analysis on the banking sector of Bangladesh. Banks are profit – earning concern. The ‘word “Bank” refers to the financial institution deals with money transaction. Banks collect deposits at the lowest possible cost and provide loans and advances at higher cost. The difference between two is the profit for the bank. Commercial banks are the primary contributors to the country. The revenue earning sources of banks are mainly loans and advances. The credit facility can be of two types: funded and non-funded. Funded credit can be expensive for the banks, as the bank has to pay interests. Non-funded credit includes Letter of Credit, which is the main source of income for the foreign exchange business. If a bank can increase its import and export transactions, its profit will obviously reach a higher level, as the costs are negligible. This report is an attempt to reflect the position of Janata Bank Limited in the banking industry procedures, policies and activities with emphasis on foreign exchange business. |1.2 Background of the Study | | | It provides a unique...
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...Janata Bank Limited, a second-generation bank of the country and make an industry analysis on the banking sector of Bangladesh. Banks are profit – earning concern. The ‘word “Bank” refers to the financial institution deals with money transaction. Banks collect deposits at the lowest possible cost and provide loans and advances at higher cost. The difference between two is the profit for the bank. Commercial banks are the primary contributors to the country. The revenue earning sources of banks are mainly loans and advances. The credit facility can be of two types: funded and non-funded. Funded credit can be expensive for the banks, as the bank has to pay interests. Non-funded credit includes Letter of Credit, which is the main source of income for the foreign exchange business. If a bank can increase its import and export transactions, its profit will obviously reach a higher level, as the costs are negligible. This report is an attempt to reflect the position of Janata Bank Limited in the banking industry procedures, policies and activities with emphasis on foreign exchange business. 1.2 Background of the Study | After completion of 130 credit hours of BBA program demands a report on practical experience. Internship program is a must criterion for Bachelor of Business Administration (BBA) students, designed to put them in a challenging environment of the relevant field, where the students get sample opportunity to apply their theoretical knowledge into practical applications...
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...annual report 2014 8 th annual general meeting Menara Hap Seng Jalan P. Ramlee, 50250 Kuala Lumpur, Malaysia. Monday, 25 May 2015 at 2pm. Contents Hap Seng Plantations Holdings Berhad | Annual Report 2014 16 Chairman’s Statement 56 51 Corporate Social Responsibility 2 3 14 16 22 35 Corporate Information Directors’ Profile Group Financial Highlights Chairman’s Statement Statement on Corporate Governance Statement on Risk Management and Internal Control 41 Board Committees 51 Corporate Social Responsibility Financial Statements 56 114 116 120 122 123 126 127 • Financial Statements Additional Information Particulars of Group’s Properties Plantation Statistics Share Buy-Backs Summary Analysis of Shareholdings Directors’ Shareholdings Notice of Annual General Meeting Proxy Form Hap Seng Plantations Holdings Berhad | Annual Report 2014 Corporate Information BOARD OF DIRECTORS Tan Sri Ahmad Bin Mohd Don Independent Non-Executive Chairman Datuk Simon Shim Kong Yip, JP Non-Independent Non-Executive Deputy Chairman Tan Sri Abdul Hamid Egoh Non-Independent Non-Executive Director Datuk Edward Lee Ming Foo, Managing Director Wong Yuen Kuai, Lucien Independent Non-Executive Director JP Lee Wee Yong Executive Director Au Yong Siew Fah Executive Director 2 Company Secretaries Cheah Yee Leng (LS 0009398) Lim Guan Nee (MAICSA 7009321) Registered...
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...[pic] Assignment for Course: BUS 625 Multi-National Corporations and International Trade Submitted to: Dr. Lee Pickler Submitted by: Zachery Engels, Frank Mayse, and Gina Glorioso Rendall Date of Submission: April 11, 2015 Title of Assignment: Global Expansion Project - Ancestry CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. Student Signature: __Gina Glorioso Rendall__________ ******************************************* Instructor’s Grade on Assignment: Instructor’s Comments: AN EXECUTIVE BRIEFING ON [pic] Researched by Downtown Dominators Zachery Engels, Franklin Mayse, and Gina Glorioso Rendall Spring 2015 TABLE OF CONTENTS INTRODUCTION TO THE STUDY 5 DOMINANT MARKET ENVIRONMENT ASSESSMENT 5 INTRODUCTION 5 POLITICAL / REGULATORY 5 ECONOMIC: MACRO 5 TECHNOLOGY 6 SOCIETAL 6 INDUSTRY ANALYSIS AND COMPANY PERFORMANCE 6 SUMMARY 8 INTRODUCTION 9 FINANCIAL RESOURCE ASSESSMENT 9 CASH 9 MARKETABLE SECURITIES 9 LEVERAGE (ABILITY TO BORROW) 9 CREDIT RATING 10 STANDARD AND POOR RATING 10 ...
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...pART 1 NEW ECONOMIC MODEL FOR MALAYSIA NEW ECONOMIC MODEL FOR MALAYSIA pART 1 High Income Rakyat Quality of Life Inclusiveness Sustainability NEAC National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA MALAYSIA NATIONAL ECONOMIC ADVISORY COUNCIL NEAC www.neac.gov.my NEAC NATIONAL ECONOMIC ADVISORY COUNCIL CHAPTRE NEW ECONOMIC MODEL F O R M A L AY S I A 1 Part I: Strategic Policy Directions Copyrights Reserved All rights reserved. No part of this publication may be reproduced, stored in retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording and/or otherwise without the prior permission of: Secretary National Economic Advisory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2 Federal Government Administrative Centre 62652 PUTRAJAYA Tel.: 03-8888 6512/ 8888 6513 Fax: 03-8888 4638/ 8888 4177 Email: secretariat.neac@pmo.gov.my www.neac.gov.my Sales copies are obtainable from: Percetakan Nasional Malaysia Berhad Jalan Chan Sow Lin 50554 Kuala Lumpur Tel.: 03-9236 6888 Fax: 03-9222 4773 Email: cservice@printnasional.com.my __________________________________ Cover design and layout by Percetakan Nasional Malaysia Berhad Preface This report is the first of two documents by the National Economic Advisory Council (NEAC) on the New Economic Model (NEM). This report presents...
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...COMMERCIAL BANK OF ETHIOPIA CUSTOMER ACCOUNTS AND TRANSACTION SERVICE TECHNICAL TRAINING MANUAL May 2014 Commercial Bank of Ethiopia Contents PART I ............................................................................................................................................................ 1 Chapter one .................................................................................................................................................. 1 Introduction .................................................................................................................................................. 1 1.1 Overview ............................................................................................................................................. 1 1.2 History of Banking in Ethiopia ............................................................................................................. 2 1.3 CBE’s Profile ........................................................................................................................................ 4 V I S I O N................................................................................................................................................... 4 MISSION .................................................................................................................................................... 4 List and discuss CBE’s corporate values ..............................................
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...COMMERCIAL BANK OF ETHIOPIA CUSTOMER ACCOUNTS AND TRANSACTION SERVICE TECHNICAL TRAINING MANUAL May 2014 Commercial Bank of Ethiopia Contents PART I ............................................................................................................................................................ 1 Chapter one .................................................................................................................................................. 1 Introduction .................................................................................................................................................. 1 1.1 Overview ............................................................................................................................................. 1 1.2 History of Banking in Ethiopia ............................................................................................................. 2 1.3 CBE’s Profile ........................................................................................................................................ 4 V I S I O N................................................................................................................................................... 4 MISSION .................................................................................................................................................... 4 List and discuss CBE’s corporate values ..............................................
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...A PROJECT REPORT ON E-Payments: Proceeds and Improvements Project Submitted in partial fulfilment of MBA Submitted by: Devashree Nadkarni Batch 2014-2016 Under the guidance of Mrs. Dipika Malpekar Institute of Management Christ University, Bangalore March 2015 Declaration I, Devashree Nadkarni solemnly declare that the project work entitled “E-payments: Proceeds and Improvements”, is my original work, it is neither copied from any earlier submitted work elsewhere or not merely copied, this is specifically prepared as a part of MBA curriculum, to be conducted in Year 2015. Signature of the student: ________________________ Name of the Student: Devashree Nadkarni ACKNOWLEDGEMENT It gives me immense pleasure to present the report of Summer Internship Project which is integral part of MBA program at Institute of Management, Christ University, Bangalore. I consider it an honored privilege to have undergone this Internship in Hindustan Petroleum Corporation Limited. This Training period has enriched me with valuable experience & the practical knowledge of Industry with special emphasis on knowledge building and people management skills. This training period has provided me with the best opportunity to put my theoretical management knowledge to its practical use. During my training I worked with some highly knowledgeable and enthusiastic people, without mentioning their names I could not conclude this report. First, I would like to express my sincere gratitude towards...
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...please contact: Communications Unit National Treasury Private Bag X115 Pretoria 0001 Tel: +27 12 315 5526 Fax: +27 12 315 5126 Budget documents are available at: www.treasury.gov.za 2013 Budget Speech Honourable Speaker I have the honour to present the fourth budget of President Zuma’s administration. Mr President you said in the State of the Nation address that “we should put South Africa first. All of us have a patriotic duty and responsibility to build and promote our country.” You further said “The National Development Plan provides a perfect vehicle for united action precisely because it has the support of South Africans across the political and cultural spectrum. Leaders in every avenue should be ready to rise above sectional interests and with great maturity, pull together to take this country forward.” This challenge applies to all sections of our society: business, labour, public representatives, activists and citizens in every part of the country. As we pointed out in the 2012 Budget, global economic uncertainty will remain with us for some time. South Africa’s economic outlook is improving, but requires that we actively pursue a different trajectory if we are to address the challenges ahead. 1 2013 Budget Speech Under your leadership Mr President, we have opened new channels of communication and built more cohesion among key stakeholders in South Africa. We have taken many steps to create the conditions for higher levels of confidence in our economy and...
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