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Tài liệu Alphanam jsc.ppt

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Company LOGO ALPHANAM JSC INDUSTRIAL COMBINATION Content 1. Company Overview. 2. Relationship between Vietnamese financial market and Alphanam’s financial management. 3. Company’s Profitability and Risks. Company Overview • Established in 1995 as Alphanam Co., Ltd • 2002: Alphanam JSC • Industry: Industrial Combination • Business Fields: - Manufacturing Industrial Equipment, Material and Products - Installation and Contruction of Industrial Infrastructure - Real Estate Business - Financial Investment • ALP was listed on HOSE on December 18, 2007 • Chartered Capital: 438,203,930,000 VND Company Overview Company Overview Financial Relationship EXAMPLE #1: - In 2010, Alphanam JSC and GEM signed a term sheet in which GEM committed to invest 30 million in Alphanam in shares, with the purchasing price at 90% of market price. - Financial market: + Ineffective administrative procedures + Stock prices fell Example #1 (cont.) - Effects: Alphanam did not want to sell their shares at 90% market price as agreed 6 months ago. - Financial Decision: put off the deal temporarily. Example #2 EXAMPLE #2 - 10/2010: Alphanam intended to issue 200 bil. worth in bonds for MB purchase with a 15% annual interest rate. - Financial Market: + Ineffective administrative procedures. + Interest rate increased from 12-13% to 1920% after 3 months. - Effects: High interest rate caused the bond offering to fail. Balance Sheet Income Statement Liquidity Ratios • Rather low liquidity risks. • 2008: maintained a good capability of paying short-term debts. Leverage Ratios • Very low risks in insolvency. • May have failed to take advantage of financial leverage Efficiency Ratios • Capital Management might have problems. • Not a generous creditor. Profitability Ratios • Quite effective through years • Relatively low profitability compared to the industry’s Market Value Ratios • Business Performance is getting better • Attract investors DuPont Analysis • ROE = Profit Margin (NI/Sales) * Total Asset Turnover (Sales/Assets) * Equity Multiplier (Assets/Equity) DuPont Analysis • Profit Margin affects ROE the most
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