Public Limited Companies - Free Essay Example

Finance Introduction For the purpose of this research, two PLCs have been chosen, one from the UK and the other from China, together with two countries, one a developed and the other an emerging country. Chosen Public Limited Companies Umeco PLC. Umeco, based in Leamington Spa in Warwickshire, UK is involved in the aerospace and defence industries and has an international client base. The main tasks of the business are the provision of innovative methods for distribution, supply chain management, as well as repair and overhaul services. It is also involved with advanced composite materials, which are used within the same industries and have been extended to include wind energy, motor sport and other allied automotive and technological areas (Umeco website 2007). The company employs over 1,400 people in international locations throughout the world, including the UK, North America, and Europe. In addition, during the course of 2006 the business has sought to extend its presence in the Far East. To this end, it has established an agreement with an organisation in China for the formation of a new commercial business, which will assist in the servicing of its customers in that region. It can also be seen from th e Chairmans statement in the Annual Report (2006), that the company has engaged in a number of acquisitions throughout all areas of the business over the past twelve months. Figure 1 Umeco Results summary Source: Annual Report 2006, page 91 The five-year summary (see figure 1) shows that since 2004 the business has achieved a steady growth pattern in revenue, profits, and earnings per share, all of which show a year on year increase during that period. During the same five years the share price of the business has also risen from approximately 250 to 550, making it an attractive investment, particularly for the institutional investors, the top ten of whom own around 57% of the issued shares (see annual report, page 23). In order to fund the corporations 2006 acquisition programme, including that of Provest and Aeromedic Innovations, and to provide it with growth capital, a rights issue was launched in 2005, to which the business received 98.6% valid acceptances (see chairmans statement 2006). It is anticipated that this will provide for continued growth and added value in the future. China Unicom In 1994, the Chinese government set up the China United Telecommunications Corporation as a state owned enterprise within the telecommunications industry, serving citizens of the Peoples Republic of China. Although it started as a wireless paging and mobile operating service, it has expanded its interests to include a wide range of telecommunications services. In 2000, following the expansion of Chinas desire to attract international investment, the corporation set up a commercial public trading business named China Unicom. However, the Chinese based organisation from which it was founded still owned approaching 60% of the business (Annual report 2005, page 2), which has since grown to over 69%, with just below 20% held in Shanghai and the balance in the Hong Kong and NYSE markets. Figure 2 China Unicom financial performance 1999 2000 2001 2002 2003 2004 2005 Total Assets 453.7 1128.3 1279 1492.2 1498.4 1456.3 1426.3 Total Borrowings 201.3 356.5 442.7 530.2 543.9 461.5 345.8 Total Liabilities 343 547.2 653.9 824.1 802.2 728.2 663.4 Shareholders equity 85.4 572.2 616.8 662.5 696.2 728.1 762.9 EBITDA Margin 37.3% 46.2% 46% 45.8% 36.8% 34.1% 32.7% Profit Margin 4.8% 13.7% 15.2% 11.3% 6.2% 5.5% 5.7% Revenue 174.5 236.9 293.9 405.8 676.4 793.3 870.5 EBITDA 65.1 109.6 135.3 185.8 249.0 270.2 284.4 Profit 8.4 32.3 44.6 45.7 42.2 43.9 49.3 Cellular Subscribes (ten thousands) 415.4 1277.2 2703.3 4311.4 8083.3 11208.1 12779.4 Source: https://www.chinaunicom.com.hk/en/investor/highlights.html One of the problems that this distribution of shareholding creates is that, effectively, the corporation has to serve two masters, the state and the shareholder, which has led to its less than inspiring results over the past five years, as can be evidenced in figure 2. The financial results show that, despite the fact that revenue and subscriber levels have continued to grow significantly since 2001, the profit level in percentage terms has fallen, although this appears to have stabilised in 2005. The business has experienced difficulties throughout it trading life, particularly as a result of the government intervention in its activities in respect of the GSM products. As a result, it has sought to sell this area of the business back to the parent company in exchange for the acquisition of mobile licences throughout China (JP Morgan 2005). In April 2005, the company made an offer of 2.3 shares per ten trad able held, providing the major shareholder, China Unicom Group Co Ltd, was given the go ahead to floats its own majority shareholding. Chosen countries The UK, with a current population of around 60 million, has a high level of private ownership within its corporate and trading markets. With a GDP of over $2.3 trillion (World Factbook 2007), it is one of the leading economies of Europe. It is also one of the most popular countries for international corporate domicile (Monks 2000. p18). The London stock market is one of the worlds oldest, being able to trace its roots back over three hundred years, although the current form of the Stock Exchange was not opened until 1801. Since then, it has become one of the most important exchanges in the world. Unlike China, the UK financial markets and business corporations work on a shareholder system, with very little interference from the state in terms of control of operations, apart from their corporate governance procedures. As such, it allows a high level of inward and outward foreign investment. Until the later part of the 1990s, industry in China, being a communist country, was state owned. However, in 1997 the ruling party announced plans to sell off large stakes in many of these corporations to the public (Seth Faison 1997). Over the following few years, the country underwent a significant economic change in terms of its approach to capital markets, allowing investment and fund managers to operate within the country and access to their corporations, although initially through joint ventures. An increasing number of Chinese domiciled businesses also sought listings on the Hong Kong and New York stock exchanges as a way of attracting foreign capital for domestic and international growth. Over the same period, there has significant increase in the growth of foreign businesses operating within China, with such names as KFC, Adidas and MacDonalds amongst them. By 2006 China, with a population of over 1.3 billion, had become the worlds second largest economy behind the US, with a GDP in excess of $2.5 trillion and an annual growth rate of 10.5% (World Factboo k 2007). Despite initial fears regarding the level of state involvement in what is attempting to become a capitalist-based financial market, China has so far succeeding in combining the dichotomy for the moment. References JP Morgan (2005). China Market Strategy. Asia Pacific Equity Research. Retrieved 2 March 2007 from https://www.bolaninfo.com:8080/CMS/UserFiles/Pdf/JPM%20China%20Market%20Strategy20051106.pdf Faison, Seth (1997). In Major Shift, China Will Sell State Industries. New York Times, New York, US. World Factbook (2007). Peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s Republic of China. CIA. US. Retrieved 2 March 2007 from https://www.cia.gov/cia/publications/factbook/print/ch.html Our History (2007). London Stock Exchange. London, UK. Retrieved 2 March 2007 from https://www.londonstockexchange.com/en-gb/about/cooverview/history.htm Monks, Robert A.G (2000). Modern Company Law for a Competitive Economy: the strategic environment. Corporate Governance vol 8, No.1. UK Um eco PLC (2007). Company website. Retrieved 2 march 2007 from https://www.umeco.com/default.asp Life Style Extra (2007). Umeco Share Price Retrieved 2 march 2007 from https://www.lse.co.uk/ShareChart.asp?sharechart=UMCshare=UMECO_PLC_ORD_25P World Factbook (2007). United Kingdom. CIA. US. Retrieved 2 March 2007 from https://www.cia.gov/cia/publications/factbook/print/ch.html

How The Student Loan Interest And Penalties A Guide For...

How to Erase Student Loan Interest and Penalties - A Guide for International Student Most American understudies move on from school with about $30,000 in understudy credit obligation. The weight that paying off these credits puts on you can debilitate, and your future starts to look bleaker and bleaker. Regardless of the fact that you get a not too bad paying occupation, you ll be spending so much cash paying down your credits every month that you won t have sufficient energy to make the most of your more youthful years. Try not to stress You are not the only one. There a million wrong approaches to approach paying off your understudy obligation and just a couple right ones. This article is going to help you tell the great from the terrible. There are some ways you can lower or even invalidate your financing costs, and there are approaches to return from punishments. The Grace Period Interest Game In the event that you ve just as of late graduated, you re likely overpowered with paying back your understudy credits, as well as finding an occupation, a spot to live, acclimating to another city, and so forth. This will be a standout amongst the most attempting times of your life. That is accurately why understudy advance organizations offer elegance periods, yet don t be tricked into suspecting that they re doing this to be pleasant folks. Six months of no installments implies a bigger main equalization, and a bigger chief parity implies more cash for them. Try notShow MoreRelatedFinance6839 Words   |  28 Pagesof issues in international finance and global financial markets. It covers topics such as sport and forward exchange rates, interest rate parity, currency hedging and exchange rate forecasting techniques. 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Wild Oats Case Study - 1212 Words

INTRODUCTION: Founded in 1987, Wild Oats Markets, Inc. is a leading natural and organic foods retailer in the United States. Headquartered in Boulder, Colorado, the company operates over 100 natural food stores in 25 states and Canada under several names, including Wild Oats Natural Marketplace, Henry’s Farmer’s Market, Sun Harvest Farms, and Capers Community Market. The owners, Michael Gilliand and Libby Cook, lacked experience in the natural/whole foods market and the first store got off to a slow start. However, with consumer’s peaking interest in wholesome foods produced in an earth-friendly, responsible manner, sales soon increased and the company experienced rapid growth from 1991 through 1999. Even though they have remained†¦show more content†¦By 2006, the company was in over its head and could not compete effectively with Whole Foods. Insufficient IT – Even though the company has commenced IT programs for EDI, they still have a weak I T infrastructure with a proliferation of systems. OPPORTUNITIES: High Growth Market – the holistic health area is growing quickly and Wild Oats has already begun tapping that market. The popularity of organic market cafes is increasing and Wild Oats already has these cafes in many of its stores. Vertical Backward Integration – Whole Foods has the opportunity to expand its distribution center in Denver, and enlarge the commissary kitchens to produce even more of the deli food, baked goods, and take-out food for delivery to their stores, thereby replacing some suppliers and assuring their quality standards are met. E-Commerce – Wild Oats currently offers their private label brands through Peapod.com and Amazon.com. The opportunities on-line are endless as long as the commissary kitchens and distribution centers can keep up with the demand. 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Soft Soil Improvement by Using Vertical Drains-myassignmenthelp.com

Question: Discuss about the Soft Soil Improvement by Using Vertical Drains. Answer: Segments of sand if disseminated in habitual triangles and gravel pads heartened with the geogrids were used with the aim of accelerating the mixture of the soft ground underneath to ensure the improvement of the capacity that can be borne. The examination that was used by the investigators was the limited three-dimensional (3D). This was conveyed using an altered Cam-clay model (Zi-Hang Dai Bao-Lin Chen 2017, p 56). Doing this greatly aids in the improvement of the outline level and the analysis of the issue of building on the soft ground even though complex is viable and it thus changes the exact settlement forecast. However, the method was found only in the application for only simple nature of ground. The test carried out proved out that the membrane used to generate the airtight condition and sand blanket deposit to enhance vacuum distribution. In enhancing soil (soft) improvements, solar heating will increase the presentation of drainage by act of reducing drainage retardation effects in the insult zone around the drain (Saowapakpiboon 2009, p 543). Prefabricated vertical drains (PVD) are useful aspect in improvement of soft soils, and they were developed for they were the cheapest ground enhancement method for the intensification of soil strength and soil arduousness. According to (Bergado 2010, p 78) the high rates of reimbursement contributed to lots of warm as a result of the fall of the earths structure which is the magnitudes of past considerations. However, amalgamation and opening water procedure beside the drainage path dwells sideways of the horizontal course alone and reason for a perpendicular path not mentioned. EVD technique can be premeditated for the electro osmosis and pore water drainage and this results to a 2anode-1cathode which is superior to 1anode-1cathode conformation and the highest voltage gradient seems to occur in the peak series. Electro kinetic fortifying of clay which is delicate and mounting solids gratified in glops and the mining tailings. When exploitation of the geosynthetic together with sust enance and PVDs progresses, barrier implementation bigheartedly changes than exploitation of the strategies for soil change. Therefore, when applying the two methods in soil improvements will be effective than when one is applicable alone. Out of this examination, it is advisable when improvement of soft soils is done application of the two methods be combined together (Taechakumthorn 2008, p 456). Presentation of vacuum abetted before loading is a reliable means when a huge load is needed to encounter the anticipated rate of reimbursement and undrained shear asset increases after the consolidation. The presented prefabricated band designed drains and cardboard wick fixtures for ground improvement. Characteristically, ready-made posse flows consist of an elastic core with a longitudinal frequency surrounded by a strainer jacket to prevent obstruction. PVDs beneath an embankment not only hastened by consolidation, but they also sway the subsoil pattern deformation (Zheng et al. 2017). At the center streak of an embankment where adjacent displacement is insignificant, unit cell clarifications are sufficient but elsewhere, particularly near the levee toe, any forecast from a single drain analysis is not precise enough because of sideways deformation and stagger. Preloading of soft soil with vertical gutters tends to be the most prevalent methods used to surge the sheer power of soft soil and device its post-construction defrayal. Due to the fact that the porousness of soils is very little, merging time to the achieved preferred settlement or shear strength may gross too long. Using prefabricated vertical drains means that the drainage route is abridged from the soil layer thickness to the drain stimulus zone radius, which quickens consolidation (Hui Wu Liming Hu 2017, p 67). This structure application is to progress the properties of underpinning soil for railway levees, airports, and highways. Over the previous three decades, the recital of various categories of vertical drains, containing sand drains, and sand compaction heaps and manufactured vertical drains, have been studied. A sheath less vacuum preloading technique can also be used in the improvement of soft soil. The approach offers some benefits over other conformist preloading (vacuum) where the membrane is used in forming the airtight condition and sand extensive layer to dispense vacuum. To improve the soil (soft) to accommodate large structures can also be enhanced by columns of dust being distributed in regular trios and sand cushions reinforced with geogrids to hasten the soft ground consolidation underneath the embankment and expand its bearing capacity (Wen 2017, p 96). In the sand study, a three-dimensional (3D) finite component analysis is carried out using the modified cam-clay model to boost the design level and investigation of this applied engineering problematic of soft-ground enhancement regarding accurate extrapolation of the settlement. The prophesied settlement and horizontal dislocation of the embankment sub grade found to agree well with the actual capacities. In line with the est imate of a consolidation degree of ninety-five percentage level finally, the 340th day was resulted to be the optimum date on which to eradicate the supplement (Bergado, Chai, Miura Balasubramaniam 1998, p 89). In count, the 3D consequence of the variation of surplus pore-water pressure was evidently revealed. The outcomes also proved that the 3D nonlinear arithmetic method obtainable in the paper as scientific and unswerving for intricate practical engineering complications involving soft-ground perfection. According to (Huayang Lei, 2016 p 561) the preloading (new) technique scoffs less power when juxtaposed with conventional stratagem. The technique is financially practicality and ecological considerate technique for application in low bearing soils and soils of high compressibility. References Bergado, D. T., Chai, J. C., Miura, N., Balasubramaniam, A. S. (1998). PVD improvement of soft Bangkok clay with combined vacuum and reduced sand embankment preloading. Geotechnical Engineering, 29(1). Chai, J. C., Miura, N. (1999). Investigation of factors affecting vertical drain behavior. Journal of Geotechnical and Geoenvironmental Engineering, 125(3), 216-226. Indraratna, B., Sathananthan, I., Rujikiatkamjorn, C., Balasubramaniam, A. S. (2005). Analytical and numerical modeling of soft soil stabilized by prefabricated vertical drains incorporating vacuum preloading. International Journal of Geomechanics, 5(2), 114-124. Ladd, C. C. (1991). Stability evaluation during staged construction. Journal of Geotechnical Engineering, 117(4), 540-615. Leo, C. J. (2005). Closure to Equal Strain Consolidation by Vertical Drains, by Chin Jian Leo. Journal of geotechnical and geoenvironmental engineering, 131(10), 1317-1317. Pothiraksanon, C., Saowapakpiboon, J., Bergado, D. T., Voottipruex, P., Abuel-Naga, H. M. (2010). Soft ground improvement with solar-powered drainage. Proceedings of the Institution of Civil Engineers-Ground Improvement, 163(1), 23-30. Wu, H., Hu, L., Wen, Q. (2017). Numerical simulation of electro-osmotic consolidation coupling non-linear variation of soil parameters. Computers Geosciences, 103, 92-98. Zheng, G., Liu, J., Lei, H., Rahman, M. S., Tan, Z. (2017). Improvement of very soft ground by a high-efficiency vacuum preloading method: A case study. Marine Georesources Geotechnology, 35(5), 631-642