...MII INVESTMENT MEMO TO: FROM: SUBJECT: DATE: McIntire Investment Institute Michael Nugent, COMM 2010 Election Memo – BDX December 1, 2008 Becton, Dickinson and Company Sector: Healthcare | Industry: Medical Equipment and Supplies | NYSE: BDX Thesis: A global leader in medical devices, Becton, Dickinson and Company presents a long-term investment opportunity for the McIntire Investment Institute because of the resilience of the firm’s sales in economic downturns, the solid performance of the company driven by innovation, the boon that healthcare reform in the United States should provide, and strategic acquisitions. I. Financial Summary Share Price 11/28/08 Shares Outstanding Market Cap LT Debt P/E (forward) 52 Week Range Float Short Interest Avg Daily Volume (3m) Beta $63.53 243.57 million $15.47 billion $955.7 million 11.74 $58.14 - $93.24 241.22 million 1.12 million 1,963,240 0.73 II. Business Overview Becton, Dickinson and Company (BD) manufactures and sells a host of medical devices, diagnostic equipment, and cell analysis products to healthcare institutions, clinical laboratories, and private consumers. Incorporated in New Jersey in 1906, the company is divided into the BD Medical, BD Diagnostic, and BD Bioscience product segments. BD Medical comprises the majority of the firm’s revenues and includes Medical Surgical Systems, Diabetes Care, Ophthalmic Systems, and Pharmaceutical Systems. As the secondary sales-generating division of the company, BD...
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...MII INVESTMENT MEMO TO: FROM: SUBJECT: DATE: McIntire Investment Institute Michael Nugent, COMM 2010 Election Memo – BDX December 1, 2008 Becton, Dickinson and Company Sector: Healthcare | Industry: Medical Equipment and Supplies | NYSE: BDX Thesis: A global leader in medical devices, Becton, Dickinson and Company presents a long-term investment opportunity for the McIntire Investment Institute because of the resilience of the firm’s sales in economic downturns, the solid performance of the company driven by innovation, the boon that healthcare reform in the United States should provide, and strategic acquisitions. I. Financial Summary Share Price 11/28/08 Shares Outstanding Market Cap LT Debt P/E (forward) 52 Week Range Float Short Interest Avg Daily Volume (3m) Beta $63.53 243.57 million $15.47 billion $955.7 million 11.74 $58.14 - $93.24 241.22 million 1.12 million 1,963,240 0.73 II. Business Overview Becton, Dickinson and Company (BD) manufactures and sells a host of medical devices, diagnostic equipment, and cell analysis products to healthcare institutions, clinical laboratories, and private consumers. Incorporated in New Jersey in 1906, the company is divided into the BD Medical, BD Diagnostic, and BD Bioscience product segments. BD Medical comprises the majority of the firm’s revenues and includes Medical Surgical Systems, Diabetes Care, Ophthalmic Systems, and Pharmaceutical Systems. As the secondary sales-generating division of the company, BD...
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...Answer: Foreign Direct Investment (FDI) has been an important part of the economic transition, business liberalization and macro-economic growth story in Bangladesh over the last decade. Since the last decade, there has been a considerable change in global flows of trade and finance including a surge in FDI. Despite being a recent phenomenon, several underlying factors have contributed to increasing the FDI inflow in Bangladesh, such as trade and exchange liberalization, current account convertibility, emphasis on private sector led development, liberalization of the investment regime, opening up of infrastructure and services to the private sector-both domestic and foreign, and above all the interest of foreign investors in energy and telecommunication sector. It is argued that more open trade policies are associated with the presence of foreign firms and economy-wide technological and productivity gains in developing countries like Bangladesh. There also exists evidence of a strong positive correlation between increasing share of FDI in GDP and diversification to high-technology exports in countries that have open trade regimes. Foreign Direct Investment (FDI) has played a key role in the modernization of the Bangladesh economy for the last 15 years. Bangladesh received FDI of $1.13 billion last year compared to $910 million in 2010. This increase of about 25% is higher than the average 23% worldwide growth of FDI. According to the 2012 World Investment Report (WIR) of the...
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...return, there comes risk. And in managing risk, every investor tries to keep it at minimum while trying to adhere to the targeted return. In doing so, investors have found that diversification of investment through portfolio investment can meet the investment goals in a better way than investing in a single security. Therefore, to make the maximum return at a given risk preference level, it is important to design and create a portfolio that would provide the optimum return for per unit of risk borne. Here I have constructed an optimum portfolio with different scenarios such as maximizing theta in case of short sell allowed and not allowed; minimizing standard deviation in case of short sell allowed and not allowed, maximizing return for a given risk in case of short sell allowed and not allowed, minimizing risk for a given return in case of short sell allowed and not allowed of 8 securities from a set of 16 securities of 5 sectors selected from the listed companies in Dhaka stock exchange. I have analyzed very sophisticatedly to minimize the risk of the portfolio. PORTFOLIO CONSTRUCTION In simple words, portfolio refers to combination of assets. An investor invests a pool of different investments to make a profit while aiming to preserve the invested (principal) amount. These investments are chosen generally on the basis of different risk-reward combinations: from 'low risk, low yield' (gilt edged) to 'high risk, high yield' (junk bonds) ones; or different types of income streams:...
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...1. INTRODUCTION When the CD was introduced in the early 80s, it meant an enormous leap from traditional media. Not only did it offer a significant improvement in audio quality, its primary application, but its 650 MB storage capacity also meant a giant leap in data storage and retrieval. For the first time, there was a universal standard for pre-recorded, recordable and rewritable media, offering the best quality and features consumers could wish for themselves, at very low costs. Although the CD was a very useful medium for the recording and distribution of audio and some modest data-applications, demand for a new medium offering higher storage capacities rose in the 90s. These demands lead to the evolution of the DVD specification and a five to ten fold increase in capacity. This enabled high quality, standard definition video distribution and recording. Furthermore, the increased capacity accommodated more demanding data applications. At the same time, the DVD spec used the same form factor as the CD, allowing for seamless migration to the next generation format and offering full backwards compatibility Now, in the next millennium, High Definition video is demanding a new solution. History proved that a significant five to ten time increase in storage capacity and the ability to play previous generation formats are key elements for a new format to succeed. This new format has arrived with the advent of Blu-ray Disc, the only format that offers a considerable...
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...AB Bank Limited BCIC Bhaban 30-31 Dilkusha Commercial Area Dhaka 1000 AB Bank Limited _____________________ Auditors’ report and consolidated financial statements for the year ended 31 December 2011 S. F. AHMED & CO Chartered Accountants House 25, Road 13A, Block D, Banani, Dhaka 1213, Bangladesh Telephones (880-2): PABX 989-4346 & 989-4258 Others 881-6467 & 881-5101 Fax (880-2): 882-5135 E-mails: (i) sfaco@citechco.net (ii) sfaco@sfahmedco.org Website: www.sfahmedco.org Auditors’ Report to the Shareholders of AB Bank Limited We have audited the accompanying consolidated financial statements of AB Bank Limited (“the Bank”) and its subsidiaries, namely, AB Investment Limited, AB Securities Limited, Cashlink Bangladesh Limited, AB International Finance Limited and AB Exchange (UK) Limited which comprise Consolidated Balance Sheet at 31 December 2011 and Consolidated Profit and Loss Statement, Consolidated Cash Flow Statement, Consolidated Statement of Changes in Equity and Liquidity Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards, and for such internal control as management considers necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud and error...
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...patients, smaller volumes of blood | Product * Blood collection products: * Medical * Diagnostic * Industrial safety * VACUTAINER * MICROTAINER | Climate * 1983 – process of how US govt reimbursed Medicare patients affected healthcare industry * Hospitals are more conscious of inventory carrying costs * | Price * Evacuated tubes Avg unit price 6 cents – 8 cents * Needles – 6.5 cents | Company * Becton Dickison Vacutainer Systems * Supplier of blood collection products * NEW Z contract – * BD negotiated price and QTY with large accounts, but supplied its products with one or more distributors * Three business segments: (each was a profit centre) * Laboratory * Industrial safety * Medical products (3 divisions) * Needles, syringes and diabetic products * Pharmaceutical systems * Vacutainer blood collection systems | Place * Affiliated Purchasing Group (negotiated price w/ BD) * BD product distributors (negotiated price w/ BD) * Medical Products group pooled salesforce * 474...
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...enabled services, such as ERP, website development, graphics design, etc. During the last couple of years there has been a new trend in Bangladesh of individual/group based outsourcing which is also known as freelancing. * firms in developed countries look for outsourcing businesses in developing countries because of their comparative advantages, such as low human resource costs, technological skills, language proficiency, and geographic and cultural proximity to major markets. * Such as Maldives, Pakistan, but India is way too far out. * Enterprise Resource planning * Dhaka ranked 3rd in global outsourcing so this states what portion of people in Dhaka are involved in IT outsourcing. Example of MNCs in bd * Bangladesh Japan Information Technology (BJIT) Ltd which has developed software's for renowned companies like NOKIA, Motorola, Panasonic through its operations from Bangladesh * Graphic People, specializing in web development and desktop publishing. * PyxisNet Ltd, specializing in...
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...runs for a minimum of 18 months. The mode of study for the programme is through a comprehensive course work to be examined in both oral and written papers, seminars and other necessary work to be contained in a submitted thesis. Employment Opportunities Graduate of the programme will have further relevance in the following areas: (a) Public sector, government ministries, parastatals and research institutes (b) Private sector employments and related industries, oil and gas, power and steel, telecommunications. COURSE CODE | COURSE TITLE | UNIT | BD 701 | Construction Plants and Equipments | 2 | BD 703 | Construction Planning and Contract Practice | 2 | BD 705 | Construction Finance | 2 | BD 707 | Research Methodology | 2 | BD 709 | Project Feasibility Analysis/Studies | 2 | BD 711 | Construction Management Process | 2 | BD 797 | Research Project I | 2 | | Plus One Elective | 2 | | Total | 16 | BD 701 Construction Plants and Equipment (2 units) Selection of plant and equipment for construction work. Factors affecting the selection. The cost of hiring/owning and operating construction equipment. Plants and equipments for the execution of...
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...differ in regards to how they do business. As one manager points out, “a gold pen that would be appropriate in the U.S. environment would be an insult in Japan.” L.S., Paine, Becton Dickinson: Ethics and Business Practices (A), (p. 10). As Trevino and Nelson explain in their book Managing Business Ethics, in Japan “giving gifts is considered to be an important point of relationship building.” (p. 402). Accordingly, I believe it would be appropriate for some of the terms to differ depending on the country in question. While the language of the policy could remain the same, a subsection could be included to specify how much money is appropriate to spend on a gift in that particular country. The same could be done for entertainment. While the BD Business Conduct and Compliance Code stipulates “you should not entertain lavishly” (Paine, p. 18), it does not go in to detail about what is considered lavish. This is where a subsection could be inserted to give the reader a more specific idea of BD’s expectations. For example, the Unites States version might read something like “When taking a supplier out to dinner, a $50 - $70 meal is considered acceptable.” Since Japanese suppliers have higher expectations, the policy for Japan could be more in the ballpark of $70-$90 per meal. At least now the employee reading the policy has an actual nominal figure to go by, instead of guessing or using his or her own judgment. One aspect of BD’s approach that I believe should be a global policy...
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...of the difference between the payment of import and export receipts. We have found out the major import and export goods to understand the foreign trade composition. Among them we have specifies the top five goods that are imported for the consumption and top five goods that are exported to other foreign nations to utilize the excess supply. We have also outlined the top five export destinations and top 5 import destinations to figure out the performance of foreign trade. From the analysis we have found out that our most preferred export countries are USA, Germany, UK, France and Japan. And preferred import countries are The report also comprises the Foreign Direct Investment inflow which has played key role in the modernization of Bangladesh for the past 15 years. We have included foreign direct investment to understand the impact of foreign venture. After analysis all the data we have organized a foreign trade performance of Bangladesh to indicate if the current situation of foreign...
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...Financial Institutions in Capital Market : Bangladesh Scenario A) Introductory Part * Letter of Transmittal * Table of Contents * Acknowledgement * Executive Summery * Background of the report * Objective of the report * Source of information * Methods and Procedures used * Decisions support system B) Descriptive part * Significance of the report * Overall scenario of NBFI in BD * Sector Description * SWOT Analysis * Market operations * Financial performance * Capital Market Involvement(Main Focus) * Growth and prospects * Overall scenario of Capital Market in BD C) Analytical part * Prospective Analysis- * Time series * Trend * Chart and table * Regression Analysis-profitability & amount of investment * Scenario Analysis * Sensitivity Analysis D) Conclusion Part * Analytical outcome * Recommendations/Suggestions * Bibliography * References * Appendices * Involvement of Financial Institutions in Capital Market: Bangladesh Scenario * Prospects of Financial Institutions in Capital Market: A study of regulatory framework, growth and performance Non-bank financial institutions (NBFIs) represent one of the most important parts of a financial system. In Bangladesh...
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...Financial ratio analysis on Apex Adelchi Footwear Limited and Bata Shoe Company (Bangladesh) Limited Letter of Transmittal 14th March, 2 Dear respected Madam, We are really thrilled to submit the Report on Financial Ratios analysis of Apex Adelchi Footwear limited and Bata Bangladesh Limited. Our analysis was on Fiscal Yearly 2009, 2010, 2011. This report includes the financial ratios, Calculation, Statement Figure of two companies. Your directions have been firmly followed by us to build up a vibrant picture Of the company’s financial performance and profile for past 3 (three) fiscal Executive summary The task assigned to us was to study the financial Ratios of two companies. We selected Apex Adelchi Footwear Limited and Bata Bangladesh Limited for our term paper. Through this financial analysis, our aim was to understand the financial factors those influencing the company and its decision making. Later, we tried and evaluated the various ratios to appreciate their impact on company’s performance over the last three years, which are year 2009, 2010 & 2011. The financial statements of last three years are identified, studied and interpreted in light of company’s performance. Critical decisions were analyzed and their impact on the bottom line of the company is assessed. Finally, we studied the ratio analysis of the companies to analyze the financial position of the companies in last three years. Apex Adelchi Footwear Limited (AAFL) Apex Adelchi Footwear...
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...Bureau of Forestry; 2.5 percent is privately owned. The greater bulk of the forest is in large blocks on the principal islands such as Luzon, Mindanao, Samar, Negros, and Palawan. Most of the forest is of the tropical rain type, complex in its composition. More than 3,000 species of trees attain a diameter of 30 centimeters (one foot) or more; however, less than sixty of these are marketed. Seventy-five percent of the stand consists of dipterocarps, commonly called lauan, to which "Philippine mahogany" belongs. It is conservatively estimated that the aggregate commercial standing timber is around 2,105,000,000 m3 ® (464,729,000,000 bd. ft.). Based on forest charges (government stumpage tax), this stand has a value of P2,341,550,000.1 Its commercial value is placed at P58,092,434,000, based on a minimum price of about P26.5 per m3 ® (P120 per 1,000 bd. ft.). 1 One peso is equivalent to $0.50 U. S. Smoking Mt. Mayon Volcano in Mt. Mayon, National Park, one of the several scenic parks in the Philippines. The Bureau of Forestry administers national parks as well as national forests. Under sustained-yield...
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...1.0 Introduction The report topic ‘Role of a Credit Rating Agency in the capital market development of Bangladesh’ is a significant one in the present capital market context of Bangladesh. The report focuses on increasing the understanding on the workings of the present capital market, the concept of credit rating and the effect it can have on the capital market. 1.1 Origin This report has been authorized to the students as an integral component of the Business Communication (C- 501) course requirement. The Course Instructor Ms. Mahjabeen Ahmad has authorized this report on March 27, 2002 with the date of submission being June 30, 2002. 1.2 Objective The main objective of the report is: ▪ To portray the role that a Credit Rating Agency (CRA) can play in the capital market development of Bangladesh The sub-objectives of the report are: ▪ To review the current situation of the capital market of Bangladesh ▪ To discuss the activities /operations of a Credit Rating Agency 1.3 Scope The scope of the report is limited to the presentation of a broad overview of the capital market of Bangladesh, definition and description of general activities of a Credit Rating Agency and the impact it can have on Bangladeshi capital market. The depiction does not include any discussion on the Stock Exchanges of Bangladesh or the International capital market. Since the rating business in Bangladesh is still at its infancy, no practical example...
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