Singapore | Food & Staples Retailing Asia Pacific Equity Research BREADTALK GROUP | SELL MARKET CAP: USD 213M 19 Sep 2013 Company Update AVG DAILY TURNOVER: USD 0.4M WHY THE RUSH? SELL (maintain) • Recent appreciation unwarranted Fair value • • Investors paying ahead of results No takeover story at this point add: 12m dividend forecast S$0.77 S$0.010 S$0.96 versus: Current price 12m total return forecast Too fast too much too soon With BreadTalk’s
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Analyzing the Bread Givers Bread Givers‚ by Anzia Yezierska‚ is a novel about Sara Smolinsky‚ and her struggle remaining in the old world traditions or heading to the ever-changing new world. The novel has multiple themes‚ however‚ the main theme‚ of Anzia Yezierska’s writing‚ is the old world versus the new world. Old world versus new world is very evident in the beginning chapters when we first learn that the father of the house doesn’t work‚ controls the income to his liking1
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Useful Microbes Making Bread with Yeast By Rebecca Coles Introduction Bread is such a common food‚ who would expect it to be made in such a fascinating and clever way? A simple loaf contains just four main ingredients; flour (the main ingredient)‚ warm water (the yeast prefer the water warm)‚ salt and of course the yeast‚ tiny microscopic fungi that help the bread rise. Although fascinating the process is surprisingly simple; first‚ the flour‚ sugar and water is mixed together with yeast
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She knows plenty of people who would use their business. She has already found rent-free premises for the office. Alehandro is not sure whether it would be better for him to set up as a sole trader‚ in partnership with his sister‚ or as a limited company. If Alehandro were to start off as a sole trader‚ he would be the only owner of the accountancy business. This would mean that he would be in full control of the business; he wouldn’t have to consult or check with others before making decisions and
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Case Report : Kristen’s Cookie Company (A1) [pic] Key Questions 1. To know the time it will take us to fill a rush order‚ we have to know how many dozens the rush order requires. If it is only one dozen‚ we need 6 minutes for the washing and mixing steps‚ 2 minutes for the spooning‚ 10 minutes for the whole baking‚ 5 minutes to cooling down‚ 2 minutes for the packing and 1 minute for the payment. That is to say : 26 minutes. If we consider the order requires N dozens : we always need
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The purpose of this memorandum is to provide recommendations to QRS as to whether a deal with Trammel Crow Company to develop Doral Costa should be pursued. Doral Costa Office Park provides solid cash on cash returns in excess of the desired benchmark (NCREIF plus 500 bps) with an attainable leasing schedule and various location and physical competitive advantages‚ and therefore should be pursued by QRS with slight modifications. The Project Doral Costa Office Park has been divided into two development
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awarded the contract to serve our fine products exclusively at Qwest Stadium‚ home the Seattle Seahawks. Prior to our acquisition of this contract‚ Jones Soda a Seattle based company had the rights to sell their product at Qwest Stadium. Over the past three years‚ they have built a very loyal fan base for Seattle residences. Our company has a well established reputation for quality products‚ however we must strive hard to win back the loyal customers. How to get Coca-Cola to win over the loyalty of Jones
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1. What do you expect to drive a company’s price-to-book equity and price-to-earnings multiples? PE ratio is expected to be affected by various factors include company earnings‚ payout ratio‚ growth rate and cost of equity. From the dividend discount model we know that P0=EPS0×Payout ratio×(1+gn)r-gn ‚ thus P0EPS0=PE ratio=Payout ratio×(1+gn)r-gn. Thus we see that the PE ratio is an increasing function of the payout ratio and the growth rate and a decreasing function of the riskiness of the firm
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Eastman Kodak Company: Funtime Film 1. Diagnose the reasons for Kodak’s market share loss and make your assessment of the likely development of the market if Kodak maintained the status quo. Kodak has been losing market share for the past five years to the point it has gone from 76% to 70%. The underlying causes that have generated such losses and have ultimately led consumers to favor competing brands with larger growth are: I. Consumers are tending to view film as a commodity‚ often
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diagrams of process Success is the key end product in both these methods. 3.1.5. Vision & Strategy: The vision of a Medtech Company is the dream of what they want the company to be. The Company’s strategy is the large-scale plan that they will follow to make the dream happen. By starting with the vision and working through with the target strategy will give the company an idea what will be achievable and sustainable at the end conclusions. 3.1.6. Understanding the Customer’s Needs: The customers
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