...INTRODUCTION This memo addresses the feasibility of the NESA project and provides a brief overview of: our financial condition, the iron ore market, major risks associated with this project, estimated project NPV, and the benefits of the financing packages. From our analysis, the NPV of this project is $137.36M - $104.31M. While there is risk associated with venturing into an unfamiliar market in a politically volatile country, the debt financing packages mitigate this risk. Thus, we believe that the project should be accepted. FINANCIAL CONDITION We experienced growth in earnings from $98M in 2002 to $1.84B in 2011, due to improved operating margins (Appendix 1). The improvements in ROE and ROA have outpaced our competitors, implying that we are getting higher returns for each dollar invested in shareholder’s equity and assets. Although we have a more aggressive debt strategy, our D/E ratio never exceeded 50% from 2002 to 2011. Despite the slight 4% decrease in our cash and current ratios, their values are still well above one. We are still in a good financial position as we have accumulated a lot of cash and our debt is being used effectively to take advantage of investment opportunities. Therefore, we are in an excellent position to take on new projects. NEW INVESTMENT OPPORTUNITY AND ASSOCIATED RISKS The iron ore investment in South Africa is an attractive opportunity since it allows us to diversify our operations and lessen our dependence on unsustainable gold...
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...To: CFO, New Earth From: Group 4 Consulting team: Ka Yan Michelle Au (20344951), Catherine Cho (20337067), Yutong Liu (20344878), An Li Xu (20341923), Jeffrey Wang (20342506) Subject: New Earth’s South Africa Iron Ore Investment Analysis ______________________________________________________________________________ New Earth Mining Inc. (“New Earth”) has substantial investments in the precious metals industry, specifically gold, but is facing volatile gold prices that may not be sustainable in the future. In response to this threat, New Earth should consider opportunities to diversify its business through exploration activities for other minerals. Attractive Investment for New Earth New Earth should take the opportunity to invest in the iron ore deposits in South Africa due to the following reasons: 1) It is a stable investment with long-term prospects of 15 years and a floor price of $80 per metric ton, and 2) The NPV of the project is $181.75 million, thus providing enough cash flows to cover debt and provide dividends to shareholders. Stable Iron Ore Investment The iron ore investment satisfies New Earth’s desire to diversify its business from precious metals with this potential investment life of 15 years. Prices are expected to stay over $80 per ton, with ore prices having reached a high of over $100 per metric ton in 2012. Production costs are expected to be low due to the easy access to ports from the mine location, reducing the need for infrastructure investment...
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...My Best Friend My best friend , Nesa is of mixed percentage – half Chinese and half Indian . She is a good girl. I got to know her when I was six . I remembered how the first time I met her. One day, as usual when I was playing with my playmate-Barbie Doll then the news I received that we are going to have a new neighbor from my mum. As my mum said we are going to have a new neighbour I was the first per son to get excited. This is because, since I was born I had never experienced living with a neighbor. My mother also said our neighbor had a child and we have to attend their house warming function . As my mother said our neighbor had a child I began to pray to the God that the neighbor child must be a girl and same age with me. The next day arrived, both my mother and I attended my neighbor ‘s house warming function. I went into her house excitedly hope that the child my mother referred was a girl and same age with me . First, I saw a man wearing traditional attire standing and welcoming the visitors who came to pay visit. After that I was introduced to the girl by her mum. The first word she utter to me is “vannakam” . On the function we did not get a lot of time to get to know each other but I found out that she is my age. From the first word “vannakam” Nesa and I became almost inseparable. Not only she was my age, she is also an only child like me, she also share my favourites such as playing Barbie Dolls,watching Tom and Jerry...
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...TO: Harry Barry, CFO, New Earth Mining Inc. FROM: Jiashu Zheng - 2037 0233, Kenneth Shum - 2037 5516, Donny Kim - 2036 9046, Yiwei Du - 2039 2845, Liane Pereira - 2038 4155, Lin Gan - 2038 3499, Group 4 Financial Analysts, New Earth Mining Inc. DATE: October 7, 2013 RE: Project Valuation of New Earth South Africa (NESA) INTRODUCTION This memo addresses the feasibility of the NESA project and provides a brief overview of: our financial condition, the iron ore market, major risks associated with this project, estimated project NPV, and the benefits of the financing packages. From our analysis, the NPV of this project is $137.36M - $104.31M. While there is risk associated with venturing into an unfamiliar market in a politically volatile country, the debt financing packages mitigate this risk. Thus, we believe that the project should be accepted. FINANCIAL CONDITION We experienced growth in earnings from $98M in 2002 to $1.84B in 2011, due to improved operating margins (Appendix 1). The improvements in ROE and ROA have outpaced our competitors, implying that we are getting higher returns for each dollar invested in shareholder’s equity and assets. Although we have a more aggressive debt strategy, our D/E ratio never exceeded 50% from 2002 to 2011. Despite the slight 4% decrease in our cash and current ratios, their values are still well above one. We are still in a good financial position as we have accumulated a lot of cash and our debt is being used effectively to take advantage...
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...Learning Target : Describe the alphabetic filing rules and apply basic alphabetic rules. = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = RULE 1 – Simple Personal Names Use the last name as first filing unit The first name or initial is the second unit Use the middle name or initials as the third unit Abbreviated and shortened names were indexed as written Ex. Irvin V. Potes 1st Unit 2nd Unit 3rd Unit Potes, Irvin V. Rule 2 – Nothing Comes Before Something A name consisting of one word will be filed before a name which consists of the same name a plus a first or initial. Nesas John Lester Nesas 1st Unit 2nd Unit 3rd Unit Nesas Nesas, John Lester A name consisting of the same first and last names will be filed before the same name which also has a middle name or initial Jennifer Sanders Jennifer M. Sander Ex. Sanders, Jennifer Sanders, Jennifer M. Nothing comes before something George Kell George Kelly Ex. Kell, George Kelly, George Rule 3 – Personal Names with Prefixes Surnames which include a prefix are filed as one until whether the prefix is followed by a space or not. Dolores Anne De Marco Robin A. Mac Arthur Robert A. St. Claire 1st Unit 2nd Unit 3rd Unit De Marco, Dolores Anne Mac Arthur, Robin A. St. Claire, Robert A. Rule 4—Personal...
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...INTRODUCTION This memo addresses the feasibility of the NESA project and provides a brief overview of: our financial condition, the iron ore market, major risks associated with this project, estimated project NPV, and the benefits of the financing packages. From our analysis, the NPV of this project is $137.36M - $104.31M. While there is risk associated with venturing into an unfamiliar market in a politically volatile country, the debt financing packages mitigate this risk. Thus, we believe that the project should be accepted. FINANCIAL CONDITION We experienced growth in earnings from $98M in 2002 to $1.84B in 2011, due to improved operating margins (Appendix 1). The improvements in ROE and ROA have outpaced our competitors, implying that we are getting higher returns for each dollar invested in shareholder’s equity and assets. Although we have a more aggressive debt strategy, our D/E ratio never exceeded 50% from 2002 to 2011. Despite the slight 4% decrease in our cash and current ratios, their values are still well above one. We are still in a good financial position as we have accumulated a lot of cash and our debt is being used effectively to take advantage of investment opportunities. Therefore, we are in an excellent position to take on new projects. NEW INVESTMENT OPPORTUNITY AND ASSOCIATED RISKS The iron ore investment in South Africa is an attractive opportunity since it allows us to diversify our operations and lessen our dependence on unsustainable gold...
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...94 Lakhs/Annum+DA+TA. Roles & Responsibilities: ➢ Rf 4G Survey of Samsung Reliance Project. ➢ LOS,UBR Survey in Vodafone Project. ➢ EMF Survey in Airtel Project. ➢ Microwave installation & Commissioning of NEC-IPASO,PASO link of Reliance Project. ➢ Microwave installation & Commissioning of Ceragon in Airtel Project. ➢ Reports making. ➢ Successfully coordination with Reliance,Vodafone & NEC customer. ➢ Coordinator of Vodafone UBR Project for West Bengal. Previous Employer: Company : Pulsetone Industries Designation : Telecom trainee Duration : May 2011 to Oct 2011. Previous Employer: Company : Microqual Techno Ltd. (NESA Circle). Designation : Project Coordinator & Site Engineer. Duration : February 2011 to May 2011. CTC : Rs 1.50 Lakhs/Annum+DA+TA. Roles & Responsibilities: ➢ Integration & Commissioning of ZTE BTS. ➢ BTS Swapping. ➢ Acceptance Test of ZTE BTS. ➢ Node B Installation of Ericsson BTS. ➢ Submitting site installation pictures. ➢...
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...2G Licenses Cancellation - A judgment by the Supreme Court: Idea Cellular’s Strategy options to tackle this Contents Introduction 3 Company Overview 3 Mission 3 Issue on hand 3 Competitor Analysis 4 SWOT ANALYSIS 11 Porter's 5 Forces Analysis 14 Business Strategy 17 Final Recommendation: 22 Introduction Company Overview IDEA Cellular is a publicly listed company, having listed on BSE & NSE in March 2007. It is the 3rd largest mobile services operator in India with wireless revenue market share at 13.9 % in Q1 FY2012. Idea has join the select global operator’s club servicing over 100 million subscribers, as of September 2011. Idea is a pan-India integrated GSM operator and has its own NLD and ILD operations, and ISP license. Idea has a network of over 70,000 cell sites covering the entire length and breadth of the country. Idea has over 3,000 Service Centers servicing Idea subscribers across the country, including 450 special Experience Zones for 3G promotion. Idea’s service delivery platform is ISO 9001:2008 certified, making it the only operator in the country to have this standard certification for all 22 service areas and the corporate office. Idea is the winner of ‘The Emerging Company of the Year Award’ at The Economic Times Corporate Excellence Awards 2009. IDEA Cellular also received the prestigious Avaya Global Connect Award for being the ‘Most Customer Responsive Company’ in the Telecom sector in the year 2010. The company has received...
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...Vitae of Md.Nurul Islam Mailing Address: Name: Md. Nurul Islam C/O-Md. Azizer Rahman Moonvilla, Moonbakery Goli, Steelmill Bazar, North Patenga,Chittagong. Mobile : 01740100465 Email : mislam893@Gmail.com Objective: To prove myself as a quick learner and highly energetic person to face any challenge in the bank sector where the contribution will be acknowledge, if would given an opportunity. Summary of Competencies: • Interest to work with in a team. • Agree to work any pressure any environment. • Always Gender sensitive. • Capable to Operate MS-Word & MS-Excel Personal Information: 01. Name : Md. Nurul Islam 02. Father’s Name : Md. Azizer Rahman 03. Mother’s Name : Mrs. Luthfun Nesa Begum 04. Permanent Address : Vill- Dalshingpur P.O- Hulashuganj P.S. -Mithapukur Dist.-Rangpur 05. Date of Birth : 12-03-1989 06. Academic Qualification : |Name of Exam |Group |Year |Division/Class |Board/Institute | |S.S.C |B/Studies |2004 |4.31 |Chittagong | |HSC |B/Studies |2006 |4.30 |Jessore | |BBA |Successfully complete the Course from Premier University of Chittagong ...
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...New Earth Mining Paper Sample APA Style 1.0. Executive summary This study gives an analysis and appraisal of New Earth Mining (NEM) company investment prospect in the Iron Ore mining industry in South Africa. It looks at the current financial position of NEM and prospective success of the investment via a subsidiary New Earth South Africa (NESA). The analysis methods delve into the estimated returns on investment by use of approximated cash flows. Results of the analysis show that the returns from the investment are likely to be positive. The case study also investigates the financial soundness of NEM and so its susceptibility to new investments (Fruhan & Wang, 2013). The company’s data used is up to date and hence it is reliable making this study meticulous. The project should commence in year 2015 with an initial Investment cost of $200 million, 40% of which will be required in early 2013 and the remaining 60% in early 2014. The investment will include construction, insurance, operating assets and will have $20m worth of working capital. $40 million of loans will be required in 2013 and $120 million of loans required in 2014 (interest accrued over 2013 and 2014 and paid in 2015). Iron ore has high demand from the steel manufacturing industry. It is mined and transported from South Africa by sea to other countries that manufacture steel. This trade has recorded a steady increase of 4.4% over the years. South Africa produces 1 billion tons of ore annually, which puts it...
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...702596 Valuation 1 Ever since the seminal contribution of Modigliani and Miller (1958), a key result of corporate finance theory is that a project's cash flows should be discounted at a rate that reflects the project's risk characteristics. Discounting cash flows at the firm's weighted average cost of capital (WACC) is therefore inappropriate if the project differs in terms of its riskiness from the rest of the firm's assets. (Kruger, Landier &Thesmar 2011) According to Modigliani and Miller when discounting a projects cash flows, the projects risks must be adequately reflected, in the case of New Earth Mining, the riskiness of the project is not adequately reflected. New Earth is traditionally a mining company who is traditionally a precious metal mining company; the proposed project is intended to diversify New Earth’s business operations. New Earth Mining’s operations have traditionally been central to the United States of America, and denominated in USD. The new venture is in South Africa, a completely different terrain, a different governing body, a different set of legal restraints, risk of mining a different commodity as well as a different currency namely ZAR.(West 2012) A company using a single firm-wide WACC would tend to overestimate the NPV of a project whenever the project is riskier than the typical project of the company.(Kruger, Landier &Thesmar 2011) As Kruger, Landier and Thesmar have highlighted, the proposed NPV of $83 million could potentially...
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...SCHOOL OF ACCOUNTANCY UNIVERSITI UTARA MALAYSIA BKAT 2013 – PRINCIPLES OF TAXATION TUTORIAL 3 – UNEARNED INCOME QUESTION 1 Under what circumstances income derived from rental of properties is taxable under Section 4(a) – Business Income instead of under Section 4 (d) – Investment income? QUESTION 2 (A) Mr. Rozmi has opted to retire from MR Resources Sdn Bhd in 2011. In 2012, he reported the following with regards to his income: Pension - optional retirement | 3,000 | Annuity paid by Bening Insurance Bhd, a Malaysian life insurer | 9,000 | Malaysian dividend, net | 14,400 | Royalties from musical composition | 23,000 | Interest on fixed deposits with Maybank for 15 months' tenure | 16,000 | Mr Rozmi owns a service apartment, which is let out for rent. The statement of income and expenditure for the year ended 31 December 2001 is as follows: Rent received | | | 26,300 | Less: Expenses | | | | Mortgage loan interest | 14,400 | | | Quit rent | 300 | | | Assessment and rates | 150 | | | Cost of tiling the cement floor of the balcony | 1,200 | | (16,050) | Net rental income | | | 10,250 | The accumulated rental loss brought forward from the previous year was RM2,800. REQUIRED: Computed the aggregate income for Mr Rozi for the year assessment 2012 (B) Mr Ramli and his wife jointly owned a condominium that had been let for rent since 2006. The statement of rental income and expenditure is as follows: Rent received: | |...
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...Indiana School Data Tommy Sickels July, 2012 Indiana Department of Education Data were obtained from the Indiana Department of Education website at http://www.doe.in.gov/. Each data set is a representation of numbers in Indiana schools except for enrollment which went back about 75 years. Therefore I took a smaller sample of the population. The Indiana Department of Education website posts most all information to the site. The website provides easy navigation with a very intuitive menu selection system that guides users through the website easily. 1) Enrollment by Hispanic Culture: Public School Enrollment Table A |Year: |Number Enrolled: | |1988-89 |16,826 | |1991-92 |18,013 | |1999-00 |30,083 | |2004-05 |52,665 | Enrollment of Hispanic culture in public schools has grown sharply since 1988-89 from 16,826 to 52,665 in 2005-06. This is an increase of 35,839 students in 16 years which is over twice the enrollment during the time period. The increase is positive for each consecutive listing in table A. Throughout the state of Indiana the Hispanic culture is on the rise and schools must meet the challenge of providing equal opportunity for education. In Americe, between the 1993-94 and 2002-03 school years Hispanics accounted for 64% of the students added...
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...Family Particulars of Faiza Tuba Shazeda Raian Name & designation: Fazia Tuba Shazeda Raian Executive Trading Multi Securities & Services Ltd. MBA ((Appeared) Stamford University Bangladesh BBA American International University Bangladesh (AIUB) Height : 5’ 4.5” Blood Group : B+ ve Date of Birth : 2nd February, 1985 S.S.C : 2001 (Science, G.P.A 3.75) Mymensingh Laboratory High School H.S.C :2003(Humanities, G.P.A 3.10) Momenshashi Cantonment Public School & College. Present & Permanent Address : 16 Umed Ali Road, Mymensingh – 2200 Father : Dr. Md. Abdul Quddus Consultant & Dental Surgeon B.D.S (Dhaka) D.P.H (London) Asst.Professor & Head of the Dept. of Dentistry (Retired) Mymensingh Medical College Hospital Visiting Professor Community Based Medical College, Mymensingh Founder Director Ash Shefa Dental Centre, Mymensingh Mother : Sanzeeda Khatoon House Wife Brothers and Sisters Eldest Sister : Tanveer Taharat M. Sc (Zoology), MBA Finance Controller House of English Language Learners’ Optimum (HELLO) Spouse : Meer Sohrabul Hossain Sohail M.A...
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...Limitations of photosynthate sources and sinks at time of grain filling in an Australian hard wheat cultivar. Introduction An estimated two-thirds of the worlds population depend on wheat in their diet (Alam et al. 2008). In Australia, wheat (Tritium sp.) alone had an export value of $5.5 billion in 2010-2011 and is therewith the most valuable grain crop for Australia (ABARES 2011). To remain competitive as a wheat exporter in future, improving wheat yields seems imperative, hence improving the understanding of physiological processes during different plant-growth phases, may help to find and select specific factors that limit grain yield and ultimately help to breed better performing cultivars (Richards 1996). One area of research is dedicated to the better understanding of the limits of sources (plant organs such as leaves that produce and export photosynthates) and sinks (all plant parts such as roots or seeds that mostly store those photosynthates) after anthesis or during grain filling (Bingham et al. 2009; Fischer et al. 1977). Grain filling is a complex process involving formation, translocation, partitioning and accumulation of photosynthates in interaction with the sink-source capacities and preferences under different environments and growth stages (Felekari et al. 2014). Past research indicated that the wheat grain as a sink is limited by the capacity of its sources during grain filling (Ma et al. 1990; Alam et al. 2008), however data had a high variance reflecting the different...
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