China Trade essays

China Trade essays In 1980 neither citizens nor Chinese industry could afford most American imports, by 1985 there is evidence that the Chinese either have more money to spend or, have discovered new ways to acquire hard currency. In 1980 China remained helpless in its attempt to acquire American imports due to the lack of hard currency. China had found itself in a tough situation. According to Sheils, it wasnt just the citizens that couldnt afford a 60-cent Coke, cosmetics, or dietary supplements, but the larger industries, in addition to, that couldnt afford the equipment needed to improve their industries for export purposes (10-11). Although China had found itself in trouble, they were constantly thinking of ways to turn their situation around. By 1985 there was evidence that China was in the process of correcting what was a bad situation before. China was now expanding vertically, high-rises being put up everywhere with tall cranes swinging overhead (Altman 18). From a visual perspective China seemed to be getting its act together. According to Altman, business seemed to be booming. American technology was in demand and that meant that there had to be money to spend (18). Americans werent the only ones that saw this improvement. Japan, Chinas number one trading partner began teaching Mandarin, the Chinese national language, in an effort to produce more trade (Altman 18). For such a drastic improvement to have taken place in China money had to be the route of it. It was evident that money wasnt as scarce as it once was in China. China had found its way into the middle of things instead of just looking in. China started moving quickly to change the financial situation they encountered in 1980 by holding their first trade show in America (Sheils 10). Money was expected to pour in as the show made its way from San Francisco, Chicago and eventually New York. Altman explains, the Chinese had also...

Biography of Lord Byron, English Poet and Aristocrat

Biography of Lord Byron, English Poet and Aristocrat Lord Byron is considered to be one of the greatest British writers and poets of his time. He became a leader in the Romantic Period, alongside contemporaries like William Wordsworth, John Keats, and Percy Bysshe and Mary Shelley. Fast Facts: Lord Byron Occupation: English poet, romanticistBorn: 22 January 1788 in London, EnglandDied: 19 April 1824 in Missolonghi, Ottoman EmpireParents: Captain John â€Å"Mad Jack† Byron and Catherine GordonEducation: Trinity College, CambridgePublish Works: Hours of Idleness; Childe Harold’s Pilgrimage, She Walks in Beauty, Don JuanSpouse: Anne Isabella MilbankeChildren: Ada Lovelace and Allegra ByronFamous Quote: There is pleasure in the pathless woods, there is rapture in the lonely shore, there is society where none intrudes, by the deep sea, and music in its roar; I love not Man the less but Nature more. Lord Byron’s personal life was marked by tumultuous love affairs and inappropriate sexual relationships, unpaid debts, and illegitimate children. Lady Caroline Lamb, with whom Byron had an affair, famously labeled him â€Å"mad, bad, and dangerous to know.† He died in 1824 at the age of 36 from a fever he contracted during his travels in Greece. His most notable works include Don Juan, She Walks in Beauty, and Childe Harold’s Pilgrimage. Early Life Lord Byron was born in 1788 in London under the full name George Gordon Noel, sixth Baron Byron. He was raised in Aberdeen, Scotland, by his mother after his father fled the family and died in 1791 in France. Byron inherited his title at the age of 10, though he later adopted his mother-in-law’s family name, Noel, in order to inherit half of her estate. Imagno/Hulton Archive/Getty Images Byron’s mother was prone to mood swings and heavy drinking. Due to mistreatment by his mother coupled with a deformed foot and an uneven temper, Byron lacked discipline and structure in his formative years. He was educated at Harrow School in London, followed by Trinity College at Cambridge, though he spent most of his time at the latter engaging in sexual relationships and sporting activities. It was during this time that he began writing and publishing works.   Marriage, Affairs, and Children Lord Byron first showed his affections for a distant cousin who indulged him for a while before rejecting his affections. In subsequent years, Byron had promiscuous affairs with many women, including Lady Caroline Lamb, Lady Oxford, and his half-sister, Augusta Leigh, who later gave birth to a daughter widely considered to be Byron’s. Lord Byron married Anne Isabella Milbanke in January 1815, and the following year she gave birth to a daughter, Augusta Ada (later Ada Lovelace). Shortly after the birth of their daughter, Lord and Lady Byron separated, with Anne Isabella indicating the cause to be his incestual relations with his half-sister. During this time, Lord Byron developed a close relationship with Percy and Mary Shelley and Mary’s sister Claire Clairmont, who also had a daughter with Byron called Allegra.   Travels After completing his education at Cambridge, Lord Byron embarked on a two-year journey across Spain, Portugal, Malta, Albania, and Greece, from which he drew inspiration for Childe Harold’s Pilgrimage. After Byron finalized the separation from his wife, he left England permanently for Switzerland, where he spent time with the Shelleys. He went on to travel across Italy engaging in promiscuous affairs, writing and publishing work along the way. He spent six years in Italy, where he wrote and released Don Juan. Newstead Abbey, Nottinghamshire, 18th century. The abbey was formerly an Augustinian priory but was converted into a domestic home following the Dissolution of the Monasteries. It is the ancestral home of Lord Byron. Hulton Archive / Getty Images In 1823, Lord Byron was asked to assist in the Greek War of Independence from the Ottoman Empire. He sold his estate in England to raise money for the Greek cause, part of which he used to enable a fleet of ships to sail to Missolonghi, where he planned to help attack the Turks. Death While in Missolonghi, Lord Byron contracted a fever and died at the age of 36. His heart was removed and buried in Missolonghi, and his body was returned to England. His burial at Westminster Abbey was denied, so Byron was buried in his family tomb in Newstead. He was deeply mourned in England and in Greece.   Legacy After spurning his initial affections, Lady Caroline Lamb labeled Lord Byron â€Å"mad, bad, and dangerous to know,† a statement that stuck with him for life and beyond. Because of his generous financial support and acts of bravery in the Greek Wars of Independence, Lord Byron is widely considered to be a Greek national hero. However, his true legacy is the collection of work he left behind. Don Juan Don Juan is a satirical epic poem written by Lord Byron during the last years of his life. It is based on the legendary womanizer Don Juan, though Lord Byron reversed these character traits to make Don Juan easily susceptible to seduction. The poem is considered to be a reflection of Byron’s personal character and the disappointment with which he felt constantly burdened. Don Juan is comprised of 16 completed sections, called cantos and a final, 17th canto that remained unfinished at the time of Byron’s death in 1824. Childe Harold’s Pilgrimage Written and released between 1812 and 1818, Childe Harold’s Pilgrimage tells the story of a young man who travels the world to fill the void left by disillusionment and sadness he feels as a result of the revolutionary wars on the European continent. Much of the content in Childe is derived from Byron’s personal travels from Portugal to Constantinople. Sources Byron, George Gordon.  Don Juan. Pantianos Classics, 2016.Byron, George Gordon, and Jerome J. McGann.  Lord Byron, the Major Works. Oxford University Press, 2008.Eisler, Benita.  Byron: Child of Passion, Fool of Fame. Vintage Books, 2000.Galt, John.  The Life of Lord Byron. Kindle ed., 1832.MacCarthy, Fiona.  Byron: Life and Legend. John Murray, 2014.

Inclusion and Mainstreaming of Children with ADHD Essay

Inclusion and Mainstreaming of Children with ADHD - Essay Example The paper begins with an over-all discussion of ADHD and includes a review of the latest literature on the topic with an assessment of past empirical findings on the research topic under investigation. Part 1 provides a background, relevance, literature review, and the aims and objectives of the dissertation. Part 2 identifies the factors associated with how the researcher intends to approach this study, explaining methods of data collection and data analysis to be adopted. Attention Deficit and Hyperactivity Disorder (ADHD) is a condition characterized by hyperactivity, impulsiveness, and inattention that becomes apparent in some children in the pre-school and early school years. The general symptom is the inability to control behaviour and/or to pay attention. Research findings (Greenberg & Horn, 1991) estimated that in some countries like the United States, 3 to 5 percent of children have this condition, which means that in a normal classroom of 25 to 30 children, there would be at least one with ADHD. Although first described by Hoffman in 1845, Still (1902) was the first to describe the condition in a scientific paper and hypothesised the cause to be a genetic dysfunction and not poor child-rearing. Garber, Garber, & Spizman (1990) were the first to use the term ADHD for the condition. Hunsucker (1988) was the first to argue that if persons with ADHD were treated early, there would be a reduction in the juvenile and adult crime rates, school drop-out rates, and alcohol and drug abuse. ADHD is a treatable condition the sooner it is diagnosed and if children with ADHD are provided with special education. This is why there has been an increase through the years in the scientific literature on the topic, more specifically on the issue of mainstreaming and inclusion of children undergoing special education. Mainstreaming is the original term that describes placing children with disabilities in classrooms with non-handicapped children. In the early stages, special education children were placed in special classes and would join regular classroom settings during extra classes such as music and art. This term has evolved into "inclusion" which tries to place special education and disabled children in regular education classes as often as possible (York et al., 1992; Adamson et al., 1990; Cook & Friend, 1992; Conn, 1992; CEC, 1993; Friend & Cook, 1992; Giangreco et al., 1993). These papers argued for the main reasons behind the interest on this issue that have to do with the fact that the classroom and school environments provide an effective factor for early diagnosis, the

Management Essay Example | Topics and Well Written Essays - 1000 words - 6

Management - Essay Example C). Strategic decisions of an organization want to ensure its economic goals like profit maximization, volume, and the growth of organization. These decisions are largely influenced by their employees, customers and other stakeholders. Study of business ethics can be seen from different direction of business. Business Ethics relates to the need of ethical values in business decisions and plans. Ethics is also relevant in the context of corporate responsibility of an organization. Each organization has its own responsibilities to the society. Business ethics is a feeling of obligation to consider other human beings who are directly and indirectly involved in business activities. Business ethics also relates with good behavior of organization. Business ethics can also be deemed as an organization’s ability to ensure ethical value in its corporate decisions. The business strategy of each organization should depend on their ethical views; as such decisions affect various stakeholders. An organization’s responsibility to these stakeholders differs on the basis of its objectives. Example: An organization’s responsibility to its owner is making maximum profit and minimizing the cost. It further aims to ensure the growth and value of the business, the manager want to satisfy this responsibility at the same time they want to continue other responsibilities to the society, government, customer, employees etc. In this context all managers find themselves placed in a dilemma to take proper decision so that ethical decisions and corporate objectives stay in tandem with each other. This study aims to discuss about the problem of organizations’ social performance and economic performance. Economic performance is dealing with an organization’s main objective like making profit, generating revenue and reducing cost. On the other hand, the social performance of an organization pertains

Unintentional Findings :: essays research papers

Unintentional Findings EN 102 Honors February 12, 1997 One can find their place in society much the same way as Stephen did. Unintentionally he went back and forth between extremes until he found his own preference. Figuring out what one wants to do with their life can be confusing, especially since there are so many opportunities in the world, but giving each a chance and finding one that suits one's personality and attitude is the best thing to do.   Ã‚  Ã‚  Ã‚  Ã‚  Many people think Stephen went from one extreme, wanting prostitutes, to another extreme, a life of celibacy as a priest, were done on purpose, on course to finding his own happy medium. The same people might also say Stephen purposely chose a happy medium as not to subject himself to either extreme; being in the middle lets him experience a little of both extremes.   Ã‚  Ã‚  Ã‚  Ã‚  Different people might say that his oblique search for his place in society was brought on from when he was very young with his artistic vision. He looked at things differently then others boys around him and he knew that. He always had extra questions about the simplest of matters and constantly thought about what was wrong and right and how it lead to double-standards. This is seen when he is asked if he kisses his mother at night. No matter what his answer is he still gets laughed at and this remains in thoughts for a while. His artistic vision can probably reflect his incessant habit of always having an opposing opinion to his schoolmates even if it was something small such as who he thought the greatest writer was.   Ã‚  Ã‚  Ã‚  Ã‚  In his school Stephen seemed to be told how he was supposed to think and do things and in turn saw his family unable to follow the strict Catholicism taught in his school. This guided him in his decision for his future plans since he felt he was isolated from others because of the way he thought and did things.   Ã‚  Ã‚  Ã‚  Ã‚  When looking at his decision for where he fit in society one should not ignore the fact that his family life had an impact on his choice. Had Stephen not been so sensitive it would not have bothered him so much how little he gained emotionally, intellectually, and spiritually from the Irish nationalism surrounding him and his religious background.   Ã‚  Ã‚  Ã‚  Ã‚  To begin his life as an artist, his final decision concerning his place in society he realizes he cannot stay in the environment where he is seen as

Financial Statement Analysis of Dutch Lady

I. INTRODUCTION Dutch Lady Milk Industries Berhad (â€Å"Dutch Lady Malaysia†), a company established in 1963, is currently leading in the business of quality branded dairy in Malaysia. The company, whose holding company is Royal FrieslandCampina–a Dutch multinational corporation, one of the largest milk companies in the world- was the first milk company in Malaysia to be listed on Bursa Malaysia, the local Stock Exchange in 1968.Being the leading producer and seller of quality dairy products and fruit juices for home and export market (such as Infant formula, many types of milks, yoghurt and fruit juice drinks), Dutch Lady Malaysia has a strong consumer following and represented by strong brands (such as Dutch Lady, Frisolac, Completa, Omela, Friso, and Joy). In addition, it was the first company in the world to introduce a growing up milk powder specifically formulated for children from ages one to three (known in Malaysia as Dutch Lady 123 and Dutch Lady 456) and is the largest purchaser of local fresh milk from the Veterinary Services Department.The company receives strong support from its holding company. It also believes in product innovation and commitment to its consumers, which lead it to a constant efforts to improve its processes in order to serve its customers with high quality nutritious products. The company gives prime considerations to Quality Control and Quality Assurance. It has continually received accreditation of ISO 9001 since 1995. In terms of food safety, it applies HACCP (Hazard Analysis Critical Control Point) System to all its plants.Meanwhile, for its Environmental Management System it has in place ISO 14001 and OHSAS 18001 (Occupational Health and Safety Assessment Series). The Company’s products are all halal-certified. With factory located in Petaling Jaya that employs 600 Malaysians, Dutch Lady Malaysia made an annual revenues of RM692 million in 2009. Currently, Dutch Lady Malaysia is leading in the market o f key milk categories such as UHT milk, Sterilised milk and Growing-Up milk. II. PERFORMANCE RATIOS II. 1. Liquidity Ratio Liquidity ratio refers to ability of company to meet its short term obligation. There are eight types of liquidity ratio: . | Working Capital Ratio = Current Assets – Current Liabilities| | 2009| 2010| 2011| | = 193,784 – 96,855= 96,929| = 234,244 – 106,261=127,983| = 324,466 – 135,309= 189,157| 2. | Current Ratio = Current AssetsCurrent Liabilities| | 2009| 2010| 2011| | = 193,78496,856=2 :1| = 234,244106,261 =2. 2 :1| = 324,466135,309 =2. 39 :1| 3. | Acid Test Ratio = Quick AssetsCurrent Liabilities| | 2009| 2010| 2011| | = 136,23296,855=1. 4 :1| =161,522106,261 =1. 52 :1| =230,978135,309 =1. 7 :1| 4. | Account Receivable Turnover = Sales on AccountAverage Accounts Receivable| | 2009| 2010| 2011| = 691,847(94,369+122,858)/2=6. 36 times| = 696,625(75,176 + 94,369)/2=8. 22 times| = 810,647(36,714 + 75,176)/2 =14. 56 times| 5. | Invent ory Turnover = Cost of Goods SoldAverage Inventory| | 2009| 2010| 2011| | = 462,510(57,552+74,902)/2= 6. 98 times| = 447,961(72,722+57,552)/2=6. 88 times| = 506,175(93,448+72,722)/2=6. 09 times| 6. | Days Sales Uncollected = Ending Accounts Receivable(Debtor Turnover Ratio) Net Sales| | 2009| 2010| 2011| | =94,369691,847 x 365=49. 7=50 days| =75,176696,625 x 365=39. 3=39 days| =36,714810,647 x 365=16. 5=16 days| 7. Days’ Sales in Inventory = Ending InventoryCost of Goods Sold| | 2009| 2010| 2011| | =57,552462,510 x 365=45 days| =72,722447,961 x 365=59 days| =93,448506,175 x 365=67 days| 8. | Total Assets Turnover = Net SalesAverage Total Assets| | =691,847(280,990+288,570)/2=2. 42 times| =696,625(307,490 +280,990)/2=2. 37 times| =810,647(398,514+307,490)/2=2. 30 times| The increasing amount of working capital shows that Dutch Lady Milk Industries Berhad is able to continue their operations and it has sufficient cash flow to satisfy both short term debt and upcoming expenses.D utch Lady Milk Industries Berhad experiences an increasing self-support through its growing current assets compared to its current liabilities. The current ratio and quick ratio of Dutch Lady Milk Industries Berhad is more than ideal ratio. The increasing percentage of both ratios is indicating Dutch Lady Milk Industries Berhad has the ability to pay its current obligations in time. From account receivable turnover, in 2011 shows that Dutch Lady Milk Industries Berhad converts 14. 56 times from account receivable into cash. In 2009 and 2010, the sales movement from account to cash is not quite good because above 12 times.However, as we can see from inventory turnover from 2009-2011, indicating that Dutch Lady Milk Industries Berhad inventory management techniques in 2010 and 2011 are less efficient as compared to that in 2009 because productions selling is less frequently and make the number of inventory increase. The decline in the total of days’ sales uncollected from 2009 to 2011 shows that Dutch Lady Milk Industries Berhad has an effective accounts payable procedures. It would benefit Dutch Lady Milk Industries Berhad because they would get cash faster from their customers.The days sales in inventory measures the liquidity of inventory, the operating cycle time for Dutch Lady Milk Industries Berhad in 2009 is shorter than 2010 and 2011, they only need 45 days, 22 days faster than in the 2011. Technically total asset turnover shows how many times company can generate revenue from every dollar asset that they have, it measures the efficiency of assets in producing sales. In 2009, Dutch Lady Milk Industries Berhad can use their assets efficiently compared to the year 2010 and 2011. II. 2. Solvency Ratio It measures the ability of firm to survive in the long run.There are 4 types of solvency ratio: 1. | Debt Ratio = Total Liabilities Total Assets| | 2009| 2010| 2011| | =101,005280,990x 100=35. 9 %| =110,018307,490x 100= 35. 7 %| =139,360398,514x 100=34. 9 %| 2. | Equity Ratio = Total Equity Total Assets| | 2009| 2010| 2011| | = 179,985280,990=64% | =197,472307,490=64. 2% | =259,154398,514=65% | 3. | Debt to Equity Ratio = Total LiabilitiesTotal Equity| | 2009| 2010| 2011| | =101,005179,985=56. 1%| =110,018197,472=55. 7%| =139,360259,154=53. 7%| 4. | Times Interest Earned = Net Income before Interest Expense and Income ExpenseInterest Expense | | 2009| 2010| 2011| = 82,031 1=82 times| = 89,2210=0 times| = 139,368 919=152 times| Based on the table above, Dutch Lady Milk Industries Berhad has favorable debt ratio. There is a decline of percentage from 35. 9% (2009) to 34. 9% (2011), indicating that they has a good strategy in reducing company’s assets that are contributed by creditors. Equity ratio shows that they have tendency to depend more on the owner for financing. Consequently, it is considered as a good result for the investors as long as the company earns good profits and maintains its performance.Debt to Equity Ratio has decreased from 56. 1% to 53. 7% in 2009 and 2011 respectively, which means that in 2011 for 1 RM of Dutch Company owned by the shareholders, they owe 53. 7 cent to creditors. This is a good indicator that the company is not facing a risky situation as its business does not rely the financing on debt. The investors, therefore, may find the company as a promising firm to invest. II. 3. Profitability Ratio It is used to assess a business’s ability to generate earnings as compared to its expenses and other relevant costs incurred during a specific period of time.There are 4 types of profitability ratios: 1. | Gross Profit Margin = Net Sales – Cost of Sales Net Sales| | 2009| 2010| 2011| | =691,847-462,510691,847= 33%| =710,588-447,961710,588=36%| =810,647-506,175810,647=37%| 2. | Operating Profit Margin = Net Income Net Sales| | 2009| 2010| 2011| | =82,031691,847=12%| =89,221710,588=12. 5%| =139,368810,647=17%| 3. | Return on Total Assets = Net IncomeAverage Total Asse ts| | 2009| 2010| 2011| | =60,400(280,990+288,570)/2=21. 21 %| =63,887(307,490+280,990)/2=21. 71 %| =108,082(398,514+307,490)/2=31. 1%| 4. | Return on Common Stockholders’ Equity = Net Income – Preferred DividendsAverage Common Stockholders’ Equity| | 2009| 2010| 2011| | =60,400-0(179,985+161,585)/2=35. 37 %| =63,887-0(197,472+179,985)/2 =33. 85 %| =63,887-0(197,472+197,472)/2 =32. 35 %| Based on the graph above, we can see the percentage of gross profit margin has been increasing over the last three years. It is a good sign for a company, as it is considered as a sign of healthy and growing company. Dutch Lady Milk Industries Berhad is able maintain their inflow and outflow.It is able to make a reasonable profit on sales by keeping its overhead costs in control. Operating profit margin ratio increases from 12% (2009) to 17% (2011), showing that Dutch Lady Milk Industries Berhad has a great management skill and operating efficiency. However, there is a decline i n the percentage of return on total assets from 21. 50% to 20. 78% in 2009 and 2010 respectively. This reveals that year 2010 is less profitable. Return on assets (RoA) declines from 21. 50% to 20. 78% in 2009 and 2010 respectively. This could be an indicator that Dutch Lady Milk Industries Berhad has spent much assets to do business.If they have to pay a lot in order to maintain these assets, it will decrease the RoA even lower since the maintenance costs will decrease their earnings. In 2011, however, we can see in the table that there is an increase to 27. 12%. This indicates that they required less assets on that year. A high or low RoE needs to be interpreted in the context of a company's debt-equity relationship. The rise percentage of RoE (Return on Equity) above RoA shows that Dutch Lady Milk Industries Berhad takes a financial leverage. In 2010, by taking on debt, Dutch Lady increased its asset than to the cash that came in.It may be sign that management is using leverage t o increase profits and profit margins. So, debt amplifies RoE in relation to ROA. II. 4. Market Prospect Ratio For Dutch Lady Milk Industries Berhad, the market prospects can be observed from Earnings per Share, Price-Earnings Ratio and Dividend Yield. 1. | Basic Earnings per Share (EPS) = Net Income – Preferred Dividends Weighted-Average Common Shares Outstanding| | 2009| 2010| 2011| | = 60,400,000-064,000,000= 99. 40 cent | = 63,887,000-064,000,000= 99. 80 cent | = 108,082,000-064,000,000= 168. 90 cent| 2. Diluted Earnings per Share| | 2009| 2010| 2011| | There were no diluted earnings per share for the company| There were no diluted earnings per share for the company| There were no diluted earnings per share for the company| 3. | Price-Earnings Ratio (PE) = Market Price per ShareEarnings per Share| | 2009| 2010| 2011| | = 1162 cent99. 40 cent= 11. 69 times| = 1754 cent99. 80 cent=17. 58 times| = 2340 cent168,90 cent=13. 85 times| 4. | Dividend Yield = Annual Dividends per ShareMarket Price per Share| | 2009| 2010| 2011| | = 65. 63 cent1162 cent=5. 65%| = 72. 50 cent1754 cent=4. 3%| = 72. 50 cent2340 cent=3. 1%| The improvement of basic EPS for Dutch Lady Milk Industries Berhad from 99. 40 cent in 2009 to 168. 90 cent in 2011 is an indication that the company can generate its share to gain better profit every year. Diluted earnings per share is illustrated the assumption of the worst case scenario, it means if the company announce any dilution it will decrease the equity position in every issuance of additional shares. Diluted earnings per share seen as a bad thing for the shareholders because it will reduce the amount of the basic EPS that belongs to their stock.Thus, no diluted EPS in Dutch Lady Milk Industries Berhad can be interpreted that there were no reduction of the basic earnings per share for every share issued. For Dutch Lady Milk Industries Berhad, the PE ratio from 2009 to 2010 is increasing because the market price per share in 2010 is h igher than that in 2009. Market price per share indicates how much the price that market stock is willing to pay or sell for the share. Therefore, when the market price is going up, it means that the stock is quite appreciated, more demand that is willing to buy rather than to sell. Whereas, PE ratio from 2010 to 2011 decreased from 17. 8 times to 13. 85 times because of the firm’s earnings per share rises. In this case, however, the investors who already had share in Dutch Lady Milk Industries Berhad are recommended to hold their stocks, because the market price tends to rise. For long-term outlook, keeping the shares is still better then selling them. However, PE ratio is not the only information to be considered in carrying out stocks investment. Thus, no diluted EPS in Dutch Lady Milk Industries Berhad can be interpreted that there were no reduction of the basic earnings per share for every share issued.The dividend yield by Dutch Lady Milk Industries Berhad is declining from 5. 65% in 2009 to 3. 1% in 2011, because the rise of its market stock price. If the dividend yield increases because the market stock price is fall, it will make investors unhappy. High yields can be a sign of an unsustainably high dividend. Some investors perceives that dividends are important and usually their interest is in receiving a steady return each year. The Dutch Lady stockholders seem to be less concerned with the dividends. For them, the important things are the stock price appreciation and capital gains.III. RECOMMENDATION 1. Improve a long operating cycle ratio. Dutch Lady Milk Industries Berhad should increase collection efforts on accounts receivable to ensure timely payment from customers, for example are frequent billing or increased collection calls and correspondence. They can decrease unused inventory by putting on sales or selling overstock products to resellers. Negotiate for more favorable payment terms with creditors to give the company more time to pay bills without incurring late payment penalties or additional interest. . Increase the liquidity of inventory Dutch Lady Milk Industries Berhad should evaluate their sales, because the operating cycle in inventory take longer time than the previous year. If the sales not improving and only in a steady condition, it will increase inventory, and occurs loss for the company, because their product will be expired. To solve this problem, they can expand to the new market/export, increase their sales with promotion and advertisement. Brand awareness is important to encourage customer buy the product.If they success improving the sales, the company not only will generate more profit but also have a less inventory. 3. Manage total asset turnover efficiently. The efficiency of total asset in producing sales decreased from 2009 to 2011. Dutch Lady Milk Industries Berhad should allocating their resource and update technology to maximize the utilization of asset. Furthermore, they also have the depreciation of current assets, before the book value of their current asset decreasing they can improve human resource/labor competencies to use the asset efficiently. 4. Improving the price earnings ratio.This ratio reflected confidence of the shareholders to buy and keep Dutch Lady stock, and will attract more big investors. If the company can maintain their supply towards the market demand in the stock market, and also maintain the earnings per share by increasing net income, it will increase the price earnings ratio. Because the higher price earnings ratio means the more opportunity for Dutch Lady to grow. This improvement can support point 2 of the recommendations, the more they can keep the big investors happy, the more opportunity Dutch Lady to expand the market. IV. CONCLUSIONSThe increasing amount of working capital shows that Dutch Lady Milk Industries Berhad is able to continue their operations and it has sufficient cash flow to satisfy both short term debt and upcoming expenses. The company does not seem to face any risk of being unable to meet its current obligation. However, Dutch Lady Milk Industries Berhad has problem in the management of inventory system, the production capacity is exceed than the ability to sell their product. Solvency ratio shows that Dutch Lady Milk Industries Berhad prefers to finance their business from owner’s equity instead of debt.This is a favorable condition for investors as their investments are not put in risky situation. This is also a favorable for creditors, as the company provides them with a safety and security by its ability to quarantee that it is able to pay off all the loans. Market prospect ratio is used to evaluate market growth of the company because this ratio estimates company’s prospect and risk in earning reinvestment and distribution to the shareholders. Dutch Lady Milk Industries Berhad can be a good target for big investors as it is able to improve their market share every year.Th e improvement of basic EPS for Dutch Lady Milk Industries Berhad reveals the company’s ability to generate its shares to gain better profit every year. In terms of performance in profitability, Dutch Lady Milk Industries Berhad has demonstrated good performance in profitability. The company has been able to improve its gross margin over the last three years as shown in graph above. The RoE tells common shareholders how effectively their money is being employed. ——————————————– [ 2 ]. Loth, R. Profitability indicator ratios: return on equity.Retrieved November 16, 2012, from http://www. investopedia. com/university/ratios/profitability-indicator/ratio4. asp#ixzz2CMaaeQwt [ 3 ]. Data obtained from Dutch Lady Milk Industries Berhad Annual Report 2009, 2010, and 2011. [ 4 ]. Draker, P. P. Financial Ratio Analysis. Retrieved November 11, 2012, from http://educ. jmu. edu/~drakep p/principles/module2/fin_rat. pd [ 5 ]. eHow. What Does the Dividend Yield Tell the Investors. Retrieved November 14, 2012, from http://www. ehow. com/facts_5192566_dividend-yield-tell-investor_. html

Giant Hyena - Facts and Figures

Name: Giant Hyena; also known as PachycrocutaHabitat: Plains of Africa and EurasiaHistorical Epoch: Late Pliocene-Pleistocene (3 million-500,000 years ago)Size and Weight: Up to three feet high at the shoulder and 400 poundsDiet: MeatDistinguishing Characteristics: Large size; short legs; powerful head and jaws About the Giant Hyena (Pachycrocuta) It seems that every animal on earth came in larger packages during the Pliocene and Pleistocene epochs, and the Giant Hyena (genus name Pachycrocuta) was no exception. This megafauna mammal was very similar to the modern spotted hyena, except that it was about three times the size (some individuals may have weighed as much as 400 pounds) and more stockily built, with comparatively shorter legs. Save for these crucial differences, however, the Giant Hyena pursued a recognizably hyena-like lifestyle, stealing freshly killed prey from other, presumably smaller, predators and only occasionally hunting for its food, when circumstances demanded. Tantalizingly, the fossils of some Pachycrocuta individuals have been discovered in the same Chinese caves as the modern human ancestor Homo erectus; however, its unknown if Homo erectus hunted the Giant Hyena, if the Giant Hyena hunted Homo erectus, or if these two populations merely occupied the same caves at different times! ​Ironically, given its massive size compared to its modern descendant, the Giant Hyena may well have been driven to extinction by the much smaller spotted hyena--which would have been ranged much more nimbly over the grasslands of Africa and Eurasia and been able to chase prey over longer distances (during times when freshly killed carcasses were thin on the ground). The spotted hyena was also better adapted for the conditions that prevailed at the end of the Pleistocene epoch, shortly after the last Ice Age, when most of the worlds giant mammals went extinct for lack of available food.