...The Netherlands leads global efforts to improve textile industry The Netherlands is joining forces with Bangladesh to chair a group of donor countries, companies and civil society organisations that will tackle abuses in Bangladesh’s textile industry. LiliannePloumen, Minister for Foreign Trade and Development Cooperation, is also making 9 million euros available to help improve the appalling conditions suffered by the country’s textile workers. The Netherlands will cofinance these efforts together with the textile sector. ‘All those involved – the textile industry, manufacturers, consumers and governments – must shoulder their responsibility now in order to break this vicious circle,’ said the Minister, stressing the synergy between aid and trade. ‘We can’t keep blaming each other.’ As co-chair of the coordination group, the Netherlands will engage in political dialogue with the Bangladeshi authorities and employer organisations on behalf of its fellow donor countries, coordinating and monitoring international efforts in this area. In the Netherlands, Ms Ploumen is discussing the matter with the companies and organisations involved to produce a detailed joint action plan with measurable goals and a clear schedule. The sector expects to have the plan ready in June. Source: www.government.nl Consumers In 2012, the Netherlands had a total population of 16.7 million people, which is a relatively high number considering its small geographic size (approximately 41,000 square...
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...Management stratégique Managers arrive and present their arguments on a PPT presentation. Doc : PAs 1) Each group present arrives, they meet and each one itself Def° Pas p2-3 2) Tell advantages and drawbacks of the current system (BOARD) to introduce, what the board want (cuts in costs for this and this…) 3) The 1st manager says that we’re gonna present the beyond the landlord approach 4) Today: maj. Of ports uses landlord approach 5) Present the difference between the 2 (rappel de la définition) 1- Landlord: - Caractéristics PAs (Port Authorities) Vs Private Companies Def° Landlord : fonction p3 (top), different missions for PA et for Private companies + Cf. p4 $4 “nowadays… industrial activities”. For def°: sum up p4 in 3 points + $5.1 « They rent… port dues “. More commercial behaviour, try to make more profit. 6) But proposal: Beyond the landlord: difference, definition (caracteristics and arguments in favour) P5, $5.1 : « some pA… and markets. » The port is involved in more commercial activities and gets involved in the field of private companies and markets. 7) Our solution can help combining the 2 goals of PAs (cf p5): Goal n°1: the one every port is looking for (sustainable economically) Goal n°2: the one we develop to come to a beyond the landlord approach (efficiency to generate revenues) 8) How to be beyond the landlord? P6 1st table for theory and exemples for every point in table p7 Use examples of other ports : « in Singapore...
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...Competitiveness of ports Antwerp, Zeebrugge and Rotterdam Maritime and Modal Transportation Borms Floris 2014/2015 Table of content 1. Intro p. 3 2. General information about the ports p. 4 3.1.1. Antwerpen p. 4 3.1.2. Zeebrugge p. 5 3.1.3. Rotterdam p . 6 3. Geographical Location p. 7 4. Hinterland connections p. 8 5. Port services quality, frequency, efficiency p. 10 6. Port Authority/Administration (legal/institutional background) p. 10 7. Conclusion p . 11 8. References p. 13 1. Introduction In this term paper I will discuss the competitiveness of ports. What are the most important factors that influence the results of a port and the amount of customers and suppliers they attract. This will include exogenous as well as endogenous components. The focus will be on the ports of Antwerp, Zeebrugge and Rotterdam because their locations are close to each other and on the first view they serve a similar market, which makes them comparable. To completely understand the performances of these ports, it is important that we have a short background of the ports and how they are evolving. This will be explained in the general information topic. Thereafter we will have a look at their geographical locations, the connection with the hinterland, their services they offer and the legal background. 2. General Information 2.1 Port of Antwerp ...
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... Algemeen Op 23 Juli 1936 is Stadion Feijenoord opgeleverd. Door de opvallende architectuur werd het stadion al snel ‘De Kuip’ genoemd. Het stadion bood plaats aan ongeveer 65.000 toeschouwers. De meeste bezoekers op één dag was in 1968, waar de wedstrijd Feyenoord-Twente bijna 65.500 bezoekers trok. Rond de jaren 80 in de vorige eeuw ontstonden de eerste twijfels over de Kuip. Er was veel achterstallig onderhoud en het stadion was slechts aan één zijde overdekt. Daarnaast kwamen er uit Amsterdam steeds meer geruchten over de bouw van een nieuw stadion, wat veel moderner zou zijn dan de Rotterdamse Kuip. Hierdoor dreigde De Kuip de grote concerten en finales te verliezen aan Amsterdam. Om deze strijdt niet te verliezen, werden in Rotterdam grote verbouwingsplannen aangekondigd. Deze renovatie kwam er in 1994. Hierbij werden herstelwerkzaamheden...
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...and Suwardy (HHTS), Selected Chapters from ‘Financial Accounting, International Financial Reporting Standards, 8th global edition’. ISBN: 9781781343814. • Hillier, D., S. Ross, R. Westerfield, J. Jaffe, and B. Jordan (2013) Corporate Finance: 2nd European Edition. McGraw-Hill. ISBN-13: 9780077154592. Structure • Plenary lectures • Workshops • BONUS SYSTEM © 2012 Erasmus Universiteit Rotterdam / Rotterdam School of Management and KPMG Accountants N.V., registered with the trade register in the Netherlands under number 33263683, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (‘KPMG International’), a Swiss entity. All rights reserved. The KPMG name, logo and ‘cutting through complexity’ are registered trademarks of KPMG International. 1 Teaching Assistants Accounting Part Simone van de Made and Zouhair Saddiki Instructors for the workshops and the exam trainings You can contact them via: BAP69@rsm.nl OR ACC_BKB0007@rsm.nl © 2012 Erasmus Universiteit Rotterdam / Rotterdam School of Management and KPMG Accountants N.V., registered with the trade register in the Netherlands under number 33263683, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (‘KPMG...
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...| | | | | | | | | | | | |Group Assignment Paper | |Case Study : Diamond Chemicals plc | | | |Pengajar: ...
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...------------------------------------------------- Diamond Chemicals: The Merseyside and Rotterdam Projects Valuation and Recommendation | Table of Contents Executive Summary2 Problem Statement & Issues3 Analysis of Merseyside & Rotterdam3 The Merseyside Proposal & Analysis3 Static NPV4 Option to Switch to Japanese or German Technology4 The Rotterdam Proposal & Analysis5 Static NPV5 Option to Switch to German Technology5 Qualitative Considerations6 Recommendation7 Appendix I – Black-Scholes Model for Japanese Option8 Appendix II – Merseyside Margrabe Model for German Option8 Appendix III – Merseyside Assumptions9 Appendix IV – Merseyside Discounted Cash Flow Analysis9 Appendix V – Merseyside Depreciation Schedule10 Appendix VI – Merseyside Sensitivity Analysis11 Appendix VII – Rotterdam Margrabe Model for German Option12 Appendix VIII – Rotterdam Assumptions12 Appendix IX – Rotterdam Discounted Cash Flow Analysis13 Appendix X – Eustace’s Margin Growth Rate Error13 Appendix XI – Rotterdam Depreciation Schedule14 Appendix XII – Free Cash Flow Comparison Graph14 Executive Summary: Due to Diamond Chemical’s recent poor financial performance, it is seeking to upgrade the Merseyside plant or Rotterdam plant in order to improve performance and create value for its shareholders. The upgrade of the Merseyside plant will require a capital expenditure of £9.0 million and will increase polypropylene output by 7.0%, and increase gross margin from 11.5% to...
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...Victoria chemicals PLC (A): the Merseyside Project As a world wide major competitor in the chemical industry, Victoria Chemicals is a leading producer of polypropylene, a polymer that is used in a variety of products around the globe. Polypropylene is known for its strength and malleability and was priced as a commodity. The company operates two plants that produce polypropylene, one at Merseyside, England and the other at Rotterdam, Holland. Both plants were identical in scale, design, and age. However, Morris Greystock, the manager for the Merseyside plant saw a decline in the company’s stock, and decided to improve the position of the company. To do that, she came up with a project to increase production efficiency, rationalize the Polypropylene production line and renovate the Merseyside plant since the Merseyside production process was old and therefore higher in labor than competitors. The project Greystock wanted to propose to senior management consisted of GBP 12 million expenditure. Grestock was faced with some issues and decisions related to the project that she had to address. Those issues includes, issues with the transport division, the ICG and marketing department, the assistant plant manager, the treasury staff, and evaluating the capital expenditure. Issues: Concerns of the Transport division: Greystock’s argument is that the purchase of tank cars shouldn’t be included in the initial outlay because the company will use the transport division’s excess capacity...
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...Diamond Chemicals is considering two mutually exclusive projects, the Merseyside project and the Rotterdam project, for the production of polypropylene When considering the Merseyside project, senior-management wants a positive impact on earnings per share. The addition to earnings per share was £28,800 with an average addition of £2,000 per year2. Calculated with erosion, the addition to earnings per share was £18,800 with an average addition of £1,100 per year2. The payback period for the project was 3.10 years, when considering the erosion of Rotterdam, this would increase to 3.46 years2. The net present value of Merseyside is £15.61 million and when considering erosion, the net present value is £11.37 million2. The internal rate of return is 33%, with the erosion, it is 28.2%2. Based on these four criteria, Merseyside is a valid project to consider. When considering the Rotterdam project, the effect on earnings per share was £6,000 with an average addition of £2,100 per year4. With the erosion of Merseyside, the earnings per share would be -£2,700 with an average addition of £1,200 per year4. The payback period of the Rotterdam project would be 13.68 years and with erosion, it would be 14.24 years4. The net present value is -£3.24 million and when considering erosion, it was -£6.61 million4. The internal rate of return is 8.04% and with erosion 5.91%4. The Rotterdam project does not meet the criteria due to a negative net present value. After analyzing each...
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...Diamond Chemicals: Merseyside and Rotterdam Project Investment decision analysis Group Name- fInatics Group Members- 1. Nishant Kumar (MP13037) 2. Rahul Naredi (MP13039) 3. Samardarshi Sarkar (MP13046) 4. Shadab Akhtar (MP13050) Summary About the case Diamond Chemicals is a leading producer of polypropylene, the polymer used in a variety of products (ranging from medical products to packaging film, carpet fibers, and automotive components) and is known for its strength and elasticity. Diamond Chemicals is producing polypropylene at Merseyside, England and in Rotterdam, the Netherlands. Both factories are identical in size, age, and plant design. Merseyside is a factory built in 1967. Merseyside production process is the production process that are old, the best semi-continuous, and therefore has a total workforce of more than the other plant competitors. Diamond Chemicals is under pressure from investors to improve the financial performance due to economic slowdown worldwide and also the accumulation of common stock of the company. Revenue per share has fallen to 30 Euros at the end of 2000 from around 60 Euros at the end of 1999. Original Assumptions | | | Suggested Assumptions | | Annual Output | 250000 | | Annual Output | 250000 | Output Gain/Original Output | 7% | | Output Gain/Original Output | 7% | Price/ton (Pounds Sterling) | 541 | | Price/ton (Pounds Sterling) | 541 | Inflation rate (Prices and costs) | 0% | | Inflation...
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...good command of English Language, typing skills ,and am well organized. I am currently studying International Business and Management studies in The Netherlands. Experience Company: PERFUME STAR NETHERLANDS Period: Jan.2012 Position: Sales employee Activities: • Keep Track of the store • Selling products of luxury perfume and cosmetics • Cashier Operations • Advise about beauty, health and self-medication Company: KRUIDVAT HOOGSTRAAT ROTTERDAM Period: August 2,011 Position: Sales employee Activities: • Keep Track of the store • Sell products and medicines • Cashier Operations • Advise about beauty, health and self-medication Company: MOOI PERFUMERY AND PHARMACY ROTTERDAM Period: May-August 2011 Function: saleswoman Luxury Perfumery and Cosmetics Activities: • Sales Perfumery and cosmetics • Keep Track of the store • Advises clients on the perfumery, cosmetics and makeup Company: DE TUINEN HOOGSTRAAT ROTTERDAM Period: February 2011-May 2011 Function: Saleswoman Drugstore Activities: • Sales Products • Advises clients on cosmetics, skin care, oral care, • hair care or drugs • Keep Track of the store Company: TORO DORADO RESTAURANT AMSTERDAM Period: January 2010 - April 2010 Position: Assistant / Waitress Activities: -Preparation of accounts for customers -Maintenance of the customer base -Ensure that at the end of the day everything neat and clean is left for next...
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...A major competitor in the chemistry industry worldwide, Victoria Chemicals was a leading producer of polypropylene, which is a polymer used in a range of products; such as carpet fibers, packaging, and automobile parts. Lucy Morris, the plant manager of the Merseyside plant in Liverpool notice a decline in stock price from 250 pence per share in 2006 falling to 180 pence per share in 2007. Renovating the Merseyside plant would increase production efficiency and still become the worldwide competitor in its industry. Victoria Chemical’s forecasting concerning its engineering cost shouldn’t be included in the DCF analysis of the project. As shown in the model, its preliminary engineering cost (PEC) for 2008 is 0.5 ($500,000) and nonexistence from 2009 to 2022. Because the expense of $500,000 from the PEC is already incurred they should be kept off the DCF analysis because whether or not we do the project, we’re still obligated to pay for this cost. Assistant Plant Manager Concerns The EPC renovation should not be included in the model for the polypropylene line. These are projects with differing lives and required replacement at the end of each projects economic life. Leaving all assumptions as is a sensitivity analysis shows that this project would be profitable with a forecasted discount rate of 2%. Based on current assumptions this project earns a real rate of return of 2.5%. Our recommendation would be to model the EPC project based on forecasted increases in volume and prices...
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...#Case 5 Victoria Chemicals Scheme analysis Since the Merseyside project is identified as belonging to the engineering-efficiency category, its capital-expenditure proposals are subject to meet at least three of four performance criteria: First, the contribution to net income from the project is positive. This criterion is measured as whether the average annual addition to earnings per share (EPS) is greater than zero. It is important because it somehow shows the profitability, and investors might regard it as an essential data. Second, the payback period is not more than six years. This criterion is defined as the number of years necessary for free cash flow of the project to amortize the initial project outlay completely. A short payback period is desirable, which means the costs are recovered fast, and thus the project is considered less risky and more favorable. It is easy to apply and understand, and useful to compare with other investment plans. Third, the net present value (NPV) of free cash flow is positive. This criterion is calculated as the present value of future cash flows of the project less the initial investment outlay. It is a determinant of whether to undertake the project. A project with a positive NPV is believed acceptable. The higher the NPV, the better the project. Also, it is a good method to evaluate the project because it takes all the relevant costs in account and gives explicit consideration to the time value of money. Fourth, the internal...
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...Plaza, the Logistics Park of Zaragoza Author’s Name H. Wayne Huizenga School of Business and Entrepreneurship LOG 5010 - International Transport & Logistics Term The Logistics Plaza of Zaragoza is the largest logistic park in Europe. It is a ten-year project that started in 2000, which is now at the middle of its completion. There are not many articles on logistic parks up till now because it is a very recent development. Generally, logistic activities would grow around strategic part without any pre-planning. Due to overcrowding of those areas, governments are now trying to place logistics in more decentralized regions and are trying to create services in order to attract customers. Case Study Summary The case of Plaza can serve as an instance for potential development, helping to assess the feasibility of newer projects in the same field. In the text, there are a lot of examples of automotive or hi-tech parks; however, there are no preceding case studies that are purely on logistic park. Plaza has been built in order to generate more jobs in Aragon, which is an area of Spain where population is continuously decreasing. (Watson, 2015) It aims to retain and focus on the existing young population, particularly highly skilled labor and Foreign Direct Investment in Spain and increase investment in Research and Development in a country in order to become successful in Europe. This project is an attempt to undo the ordinary stereotype which portrays southern European...
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...group Victoria’s Secret Chemicals Executive Summary Victoria Chemicals’ Merseyside Works production process is old and inefficient compared to its’ competitors. In order to remain competitive, management limited maintenance and other capital expenditures. As a result of competitors’ efficiency, earnings fell from 250 to 180 pence per share in 2007. Corporate raider Sir David Benjamin created an urgency to improve performance and a proposal was made. However, Frank Greystocks’ DCF analysis and project proposal is under scrutiny due to concerns that some of the assumptions made are not accurate misrepresenting an accurate NPV and IRR. This analysis will address these wrong assumptions with the proper inputs in our own DCF model and prove that the proposal is not as appealing as the original, yet still a worthy investment. Introduction In the original analysis we identified several issues that needed to be addressed. These issues are: discount rate does not account for inflation, output level needs to be more conservative, improper allocation of engineering cost, the use of double declining depreciation method, the accelerated cost for new rolling stock was not included, and the cannibalization of sales. We will address these issues starting with the adjustment of the discount rate and output level. Inflation/Output Levels and Sunk Cost The initial proposal used a nominal discount rate of 10% instead of the real rate of 7% when the 3% inflation is factored into...
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