Premium Essay

Financing Proposal of Agile Property Holding

In:

Submitted By wu1871
Words 2470
Pages 10
Financing Proposal
WU Shizhi 1155068485

Company background
Property Holdings Ltd is a real estate owner and developer. The group is one of the largest property developers in China. It develops and sells residential properties. It also operates in hotel and commercial properties industry. Agile has land in Hainan, Shanghai, Nanjing, Changzhou, Chengdu, Xi’an, Chongqing, Shenyang, Tianjing, Guangzhou, Foshan, Zhongshan, Huizhou and Heyuan.

Ownership structure
62% stock shares of the company are held by Top Coast Investment Ltd whose major shore holder is the family of the founder of Agile. The second largest shareholder JP Morgan Chase & Co holds 4.38%. Dimensional Fund Advisors Ltd and Blackrock hold 1.18% and 1.16% shares, respectively. The estimated public float is between 30% and 35%.

Capital Structure
The total assets account for RMB 124,367 million. The company owns short-term borrowings and long-term borrowings RMB 16,363 million and RMB 26,203 million. The shareholders’ equity is RMB 33,851 million. The company’s total debt accounts for 34.2% of total assets. Its net debt/total equity is 72.4% and debt/common stock is 125.8%.

Benchmark against the comparables
There are lots of property companies in China or listed companies in Hong Kong. However, the most comparable companies should be property companies operating in mainland China but list in Hong Kong. Thus, the eligible comparable companies are Country Garden, Evergrande, Longfor, China Aoyuan and Guangzhou R&F. Respect to the financial ratio, Agile has a better current ratio against the industry. Its total debt to assets is slightly higher than the industry average but its total debt to equity is still lower than the average level. Agile’s financing strategy is walking in the middle way in the industry. Company name | Current ratio | Total debt to assets | Total debt to equity

Similar Documents

Free Essay

Mag Strategy

...April-May 2013 AUTOMOBILES AND AUTO ANCILLIARIES TANMAY AGARWAL Special Focus India Car Lease business to pick up Societe Generale's ALD Automotive 26 May, Mumbai According to ALD Automotive, the car lease business is expected to register huge growth in the upcoming years. Besides decreasing fixed costs, car leasing is also expected to particularly useful be for SMEs. Demand is expected to pick up in the pharmaceutical sector where increasingly companies are giving cars to their medical representatives to increase sale conversions and increase employee retention. Also agricultural companies are expected to increase lease cars usage as they can no longer rely on public buses. India-EU FTA Agreement: Likely to cause more problems for the reeling sector The India EU FTA Agreement has run into major hurdles as far as the automobiles are concerned. It is understood that the EU has been pushing the Indian side for import duty cuts. This has resulted in Indian Automakers being up in arms as they feel that cheap imports may further impact their already lackluster sales. Leading players like Maruti have been actively lobbying the government to keep this sector out of the purview of the agreement as it believes that it will result in flooding of the market by European cars. Industry Talk Daimler to develop India ops as export hub 24 May, Chennai Daimler India Commercial Vehicles- will be exporting locally assembled trucks from the conglomerate's Mitsubishi Fuso range...

Words: 7296 - Pages: 30

Free Essay

Competitive Advantage

... but companies in Ireland will have to differentiate themselves from their competitors in new ways in order to create sustainable competitive advantage. In the past, Ireland has set a standard for change and growth that is admired around the world and we can continue to do so. The biggest barrier to this is complacency: there is a real danger that enterprise in Ireland will be overtaken by more agile competitors in other countries. Overcoming this complacency and taking decisive action requires a renewed sense of national cohesion, with a commitment to execution throughout the entire enterprise community and the support systems. As outlined in Chapter 3, in the years ahead, our ability to build sustainable enterprise in Ireland will depend critically on a unique combination of: Knowledge of customers and market needs The ability to develop new products and services to satisfy those needs A world-class education and training system that is responsive and flexible and that supplies the skills required by the changing needs of enterprise A competitive taxation regime An effective, agile government system. The first two of these present the greatest challenge for Ireland: our track record in these areas is weak. The last three, on the other hand, have contributed significantly to the economic success of the past decade. However, in the current competitive climate, they take on a new importance and need renewed emphasis. This Chapter is divided into the following sections: Section...

Words: 11134 - Pages: 45

Premium Essay

Swot

...ANNUAL REPORT 2014 reimagining energy TM Our Business Liquefied Natural Gas (LNG) • Export Sector • Power Sector • Industrial Sector Regasification Terminal • Power Sector • •Power Sector Industrial Sector • Industrial Sector Natural Gas Liquefaction Peninsular Gas Utilisation (PGU) System • Residential and Commercial Sectors • Residential Sector • Commercial Sector Processed Gas Exploration, Development & Production Processing Liquefied Petroleum Gas (LPG) Condensate • Industrial Sector - Ethylene, Methanol, MTBE, • Industrial Sector Polyethylene, Propylene, Urea and VCM Olefin & Derivatives, Fertiliser & Methanol Crude Oil Condensate Petrochemical Plants • Transportation Sector - Diesel, Gasoline, Jet Fuel • Transportation Sector and Lubricants Jet Fuel, Gasoline, Diesel, Fuel Oil & Lubricants Refining Petroleum Products UPSTREAM 2 PETRONAS ANNUAL REPORT 2014 DOWNSTREAM Our Presence Upstream Downstream Upstream Africa • Algeria – Development • Cameroon – Development • Egypt – Exploration, Development, Production & LNG • Mauritania – Exploration, Development & Production • Mozambique – Exploration • Republic of South Sudan – Exploration, Development & Production • Republic of Sudan – Exploration, Development & Production • Chad – Development & Production Asia Pacific • Australia – Exploration, Development, Production & LNG • Brunei – Exploration • China...

Words: 82448 - Pages: 330

Free Essay

British American Tobacco Company Overview

...Company Overview B ritish American Tobacco is a British multinational tobacco company headquartered in London, United Kingdom. It is the world’s second-largest quoted tobacco company by market share (after Philip Morris International), and has a leading position in over 50 countries and operations in more than 180 countries. Its brands include Dunhill, Kent, Lucky Strike and Pall Mall. BAT has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of 26 December 2011 it had a market capitalization of £59.2 billion, the sixth-largest of any company listed on the London Stock Exchange. It has a secondary listing on the Johannesburg Stock Exchange. They are leading more than 50 countries and have their presence in more than 180 countries with approximately 50,000 employees. BAT is committed to providing consumers with pleasure through excellent products, and to demonstrating that they are meeting their commercial goals in ways that are consistent with reasonable societal expectations of a responsible tobacco group in the 21st century. BAT is designed to deliver their vision and build shareholder value. It is based on growth, funded by productivity and delivered by a winning organization that acts responsibly at all times. History Born international O n 29 September 1902 the UK’s Imperial Tobacco Company and the American Tobacco Company of the United States form a joint venture, the British American Tobacco Company, in...

Words: 5892 - Pages: 24

Free Essay

Cisco System

...Cisco Systems, Inc. 2011 Annual Report Annual Report 2011 Letter to Shareholders To Our Shareholders, Fiscal 2011 was one of the most transformative years we have seen at Cisco. We prioritized, simplified, and took action to drive Cisco’s continued market leadership. We aggressively changed the way we do business to become a faster and more agile partner, with the goal continuing to be to increase our ability to deliver unique value to our shareholders, customers, partners, and employees. Throughout our transformation, we continued to execute as we grew fiscal year revenue to over $43 billion. More importantly, we laid the groundwork needed to position Cisco for the next stage of growth and profitability. We believe the network will continue to grow in importance and could become our customers’ most strategic information technology (IT) asset. We will continue to develop technologies, services, and software platforms that enable our customers to leverage the network to solve their greatest business challenges, which in turn will drive, in our view, greater customer and shareholder value for Cisco and also solidify our leadership position in an ever-evolving networkcentric world. In this current environment, we are fortunate to be a company built on a number of tremendous strengths. From a technology standpoint, innovation and customer support have remained Cisco hallmarks, and we have built the most trusted brand in networking, as evident by our continuing market leadership...

Words: 77999 - Pages: 312

Premium Essay

Operations Strategy

...Ted James Operations Strategy Download free ebooks at bookboon.com 2 Operations Strategy © 2011 Ted James & Ventus Publishing ApS ISBN 978-87-7681-828-9 Download free ebooks at bookboon.com 3 Operations Strategy Contents Contents 1 Introduction 7 2 Defining Operations Strategy 8 2.1 What is Operations Management? 8 2.2 The Role of Services in Operations Management 8 2.3 What is Strategy? 9 2.4 What is Operations Strategy? 10 3 Operations Strategy Formulation 11 3.1 Hill framework for Operations Strategy Formulation 11 4 Lean Operations 13 4.1. Eliminate Waste 13 4.2 Involvement of Everyone 14 4.3 Continuous Improvement (CI) 14 4.4 Implementing Lean 14 5 Business Process Reengineering (BPR) 17 5.1 Implementing Business Process Redesign 17 Please click the advert The next step for top-performing graduates Masters in Management Designed for high-achieving graduates across all disciplines, London Business School’s Masters in Management provides specific and tangible foundations for a successful career in business. This 12-month, full-time programme is a business qualification with impact. In 2010, our MiM employment rate was 95% within 3 months of graduation*; the majority of graduates choosing to work in consulting or financial services. As well as a renowned qualification from a world-class business...

Words: 21584 - Pages: 87

Premium Essay

Testing an Age of Ban

...Contents Annual Report Annual Report ABN AMRO Group N.V. 2011 Notes to the reader Introduction This is the Annual Report for the year 2011 of ABN AMRO, which consists of ABN AMRO Group N.V. and its consolidated subsidiaries. The Annual Report consists of the Managing Board report, Supervisory Board report, and the Consolidated Annual Financial Statements. Presentation of information The financial information contained in this Annual Report has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU). This Annual Report is presented in euros (EUR), which is the presentation currency of ABN AMRO, rounded to the nearest million (unless otherwise stated). All year-end averages in the Annual Report are based on month-end figures. Management does not believe that these month-end averages present trends materially different from those that would be presented by daily averages. Certain figures in this document may not tally exactly due to rounding. In addition, certain percentages in this document have been calculated using rounded figures. As a result of the integration, the current segment reporting is still subject to minor changes. This report can be downloaded from abnamro.com For more information, please go to abnamro.com/ir or contact us at investorrelations@nl.abnamro.com ABN AMRO Group N.V. Gustav Mahlerlaan 10, 1082 PP Amsterdam P Box 283, 1000 EA Amsterdam .O. The Netherlands Telephone:...

Words: 65892 - Pages: 264

Premium Essay

Case Studies

...30 GOOD PRACTICE CASE STUDIES IN UNIVERSITY-BUSINESS COOPERATION PART OF THE DG EDUCATION AND CULTURE STUDY ON THE COOPERATION BETWEEN HIGHER EDUCATION INSTITUTIONS AND PUBLIC AND PRIVATE ORGANISATIONS IN EUROPE EUROPEAN COMMISSION Directorate-General for Education and Culture Directorate C: Lifelong learning: higher education and international affairs European Institute of Innovation and Technology; economic partnership Public open tender EAC/37/2009: CONTENTS CONTENTS INTRODUCTION Scope of report Introduction to UBC Elements in the UBC Ecosystem 5 5 5 5 AIMS & METHODOLOGY Introduction Objective Process for selection Basis for selection Countries considered in the selection of the cases Case study partners 7 7 7 7 8 8 9 CASE STUDIES Case study key insights Classification of countries Nature of case study Case study quick-find 10 10 12 12 13 NORTHERN Europe Case 1: SEA, Denmark Case 2: ETM, Estonia Case 3: Demola, Finland Case 4: REAP, Ireland Case 5: Mobility at UL, Latvia Case 6: CSE, Sweden Case 7: SMIL, Sweden Case 8: SPEED, UK Case 9: IDI/Digital City, UK Case 10: Acua Limited, UK 18 19 25 30 35 41 46 52 57 63 70 76 80 84 90 96 EASTERN EUROPE Case 11: GIS, Bulgaria Case 12: TTO Pécs, Hungary Case 13: The Science and Economy Project, Poland Case 14: WCTT, Poland Case 15: Q-PlanNet, Romania 75 1 © Science-to-Business Marketing Research Centre CONTENTS SOUTHERN EUROPE Case 16: MUHC, Malta Case 17: PNICube...

Words: 60370 - Pages: 242

Premium Essay

Management

...AT A gLANCE OUR vALUE CHAIN EXPLORATION ANNUAL REPORT 2015 DEVELOPMENT PRODUCTION REJUVENATION DECOMMISSIONING & ABANDONMENT Production Sharing Contract (“PSC”) Block Exploration Engineering, Procurement, Construction, Installation, Commissioning, Drilling, PSC Block Development PSC Block Production, Marginal Fields Brownfield Rejuvenation Decommissioning STRATEgIC ASSETS SUPPORTINg OPERATIONS ENGINEERING AND CONSTRUCTION FABRICATION, OFFSHORE CONSTRUCTION, HOOK-UP & COMMISSIONING, SUBSEA SERVICES • • • • • • • • • • • • • • • • • 273-acre Fabrication Yard in Lumut 20-acre Fabrication Yard in Teluk Kalong 88-acre Shipyard in Labuan 6 Derrick-Lay Vessels 1 Floatover Launch Barge 2 Geophysical Survey Vessels 2 Geotechnical Survey Vessels 3 Pipe-Laying Support Vessels 3 Pipe-Laying Support Vessels Under Construction 1 Subsea Construction Vessel 4 Survey Vessels 4 Accommodation Workboats & Barges 2 Accommodation Workboats & Barges Under Construction 4 Diving/Support Vessels 41 Remotely Operated Vehicles 2 Remotely Operated Vehicles Under Construction 6 Anchor Handling Tugs/Supply Vessels DRILLING ENERGY • 9 Tender Barge Rigs • 7 Semi-Tender Rigs • 1 Semi-Tender Rig Under Construction • Participating in 10 PSCs • Operator in 6 of the 10 PSCs • 1 Risk Service Contract A multinational workforce of approximately 13,000 people in over 20 countries REVENUE OPERATING...

Words: 69149 - Pages: 277

Free Essay

Oracle Financial Statement

...Morningstar Document Research FORM 10-K ORACLE CORP - ORCL Filed: June 29, 2007 (period: May 31, 2007) ® ℠ Annual report which provides a comprehensive overview of the company for the past year Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2007 OR � TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-51788 Oracle Corporation (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 54-2185193 (I.R.S. employer identification no.) 500 Oracle Parkway Redwood City, California 94065 (Address of principal executive offices, including zip code) (650) 506-7000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common Stock, par value $0.01 per share Preferred Stock Purchase Rights The NASDAQ Stock Market LLC The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ⌧ NO � Indicate by check mark if the registrant is not required to file reports pursuant...

Words: 66383 - Pages: 266

Free Essay

Find and Compare the Ratio Analysis of Oracle Corporation and Microsoft Corporation.

...| | | Form 10-KORACLE CORP - ORCLFiled: June 29, 2007 (period: May 31, 2007)Annual report which provides a comprehensive overview of the company for the past year| | | Table of Contents| | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K | | | x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| For the fiscal year ended May 31, 2007| OR| o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| Commission file number: 000-51788 Oracle Corporation (Exact name of registrant as specified in its charter) | | | Delaware| |54-2185193| (State or other jurisdiction of incorporation or organization)| |(I.R.S. employer identification no.)| 500 Oracle Parkway Redwood City, California 94065 (Address of principal executive offices, including zip code) (650) 506-7000 (Registrant’?s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | | | Title of Each Class| |Name of Each Exchange on Which Registered| Common Stock, par value $0.01 per share| |The NASDAQ Stock Market LLC| Preferred Stock Purchase Rights| |The NASDAQ Stock Market LLC| Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES x ...

Words: 64092 - Pages: 257

Premium Essay

Entrepreneurship

...ANNUAL REPORT 2014 Introduction and financial and corporate responsibility highlights INTRODUCTION AND FINANCIAL AND CORPORATE RESPONSIBILITY HIGHLIGHTS This is the Annual Report of TNT Express N.V. for the financial year ended 31 December 2014, prepared in accordance with Dutch regulations. The preceding Annual Report of TNT Express N.V. for the financial year 2013, was issued on 18 February 2014. Unless otherwise specified or the context so requires, ‘TNT’, the ‘company’, ‘it’ and ‘its’ refer to TNT Express N.V. and all its Group companies as defined in article 24b of Book 2 of the Dutch Civil Code. TNT is domiciled in the Netherlands, which is one of the Member States of the European Union (EU) that has adopted the euro as its currency. Accordingly, TNT has adopted the euro as its reporting currency. In this annual report the euro is also referred to as ‘€’. As required by EU regulation, the consolidated financial statements of TNT have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. PricewaterhouseCoopers Accountants N.V. has been appointed as the external independent auditor of the financial statements of TNT, and has been engaged to provide reasonable assurance on certain metrics and limited assurance on other metrics of CR. Enquiries related to this annual report may be addressed to Investor Relations and Corporate Communications to the attention of Mr Gerard Wichers (gerard.wichers@tnt.com). ...

Words: 88521 - Pages: 355

Premium Essay

Beazer Homes

...AC600 – Summer B 2010 Industry Overview Beazer Homes belongs to the homebuilding industry, also known as the residential construction industry. Segmentation is extensive in this industry. By way of service lines, it includes construction services, brokerage services, title insurance services and mortgage services. In terms of product lines, it includes single-family and multi-family housing, both attached and unattached, on an individual basis and as part of planned developments or communities. In terms of sectors served, these products and services are provided for individuals and communities in the residential, commercial, industrial, hospitality, and leisure/resort sectors. These homes are made to appeal to homebuyers at various price points, degrees of urbanization and ruralization, demographic segments and stages of life. Competitive products are differentiated based on factors such as location, reputation, quality, features, design and price. Competition in the home building industry comes from a number of sources. First, the industry itself is widely fragmented, in terms of the number of players. At the peak of the industry’s prosperity, at the height of the recent housing bubble, the top ten players in the industry accounted for only 35% of its sales in dollars. The actual number of players considered legitimately “in the game” at a nationally-visible level numbers between 1,500 and 3,000 at any given time, depending on the industry’s prosperity level....

Words: 22609 - Pages: 91

Premium Essay

Cross Cultural

...PRECISION IN EXECUTION Annual Report 2014 2014 ANNUAL REPORT CONTENTS CORPORATE OVERVIEW 2 3 4 6 8 12 About SapuraKencana Petroleum Berhad Our Vision Our Core Businesses Health, Safety and Environment Global Presence Corporate Information GOVERNANCE 90 Statement on Corporate Governance 102 Report of the Audit Committee 105 Statement on Risk Management and Internal Control 107 Additional Compliance Information 109 Statement on Directors’ Responsibilities 110 Corporate Responsibility 116 Highlights of Events CORPORATE DISCLOSURES 126 Financial Statements 276 Analysis of Shareholdings THIRD ANNUAL GENERAL MEETING 281 Notice of Annual General Meeting 285 Statement Accompanying Notice of Annual General Meeting Proxy Form LEADERSHIP 14 30 Profiles of Board of Directors Executive Committee PERFORMANCE REVIEW 32 40 50 Message to Shareholders President & Group CEO’s Review Business Highlights: • Drilling • Offshore Construction & Subsea Services • Fabrication, Hook-Up & Commissioning • Energy & Joint Ventures Financial Performance Financial Calendar 84 86 PRECISION IN EXECUTION For the financial year ended 31 January 2014, SapuraKencana Petroleum Berhad (“Group”) continued to make significant strides and executed our plans with precision. We delivered on the operational and Health, Safety and Environment fronts, which led to strong financial results. Having integrated strategic acquisitions in a rapid and seamless manner, the Group has further enriched its capabilities...

Words: 70759 - Pages: 284

Free Essay

Connecticut

...MICHAEL E. PORTER The State of Connecticut: Strategy for Economic Development Introduction Connecticut had long been one of the most prosperous U.S. states. With a per capita income of $39,300 in 19991 compared with the U.S. average of $28,542,2 it had the highest standard of living of any state. However, Connecticut had been hit especially hard by the recession of the early 1990s, the worst since the 1930s. During the recession, Connecticut lost one out of every 10 jobs.3 Although the recession ended in 1992, the recovery in the early 1990s was anything but robust. High unemployment rates persisted in some urban areas, and the state’s poverty rate almost doubled, from a 1987–1989 average of 4.5% to 8.4% for the 1997–1999 period.4 Worried leaders initiated the state’s first serious effort to foster economic development in living memory. After several years of little progress, Governor John Rowland (elected in 1994) initiated a cluster-based economic development strategy in late 1995. By 1999, state government had been reorganized, new institutions created, and unprecedented public-private collaboration around competitiveness was taking place. In 2000, Governor Rowland was evaluating the state’s progress thus far and considering how to carry the strategy forward. Connecticut Profile Do No Connecticut, one of the 13 original U.S. colonies, adopted in 1639 the first constitution establishing representative government. Connecticut was the fifth state to approve...

Words: 13638 - Pages: 55