19 December 2012 Vinamilk (VNM) 18 March 2011 A safe haven Anh Nguyen Senior Analyst anh.nguyen@vcsc.com.vn +84 8 3 914 3588 ext. 194 Initiation Target price Upside VND106‚000 25% Consumer Goods Market cap Shares outstanding 12M High 12M Low VND84‚500 – BUY US$3‚439m 834m VND92‚700 VND52‚000 Investors appear to recognize the competitive advantages and growth opportunities of Vinamilk. The company has a good brandname‚ economy of scales‚ an extensive distribution
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“A Day Without A Mexican” Here in the southwestern part of the United States‚ Spanish culture and their people play a big role in our society. They are very hard workers and regardless if they are here legally or are undocumented‚ our economy is highly dependent on their presence. There are many false accusations floating around that they are harming our nation in many fashions‚ however most of them are untrue and biased. In the movie “A Day Without A Mexican”‚ it gave a glimpse of how life might
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When my family’s only television set went to the repair shop the other day‚ my parents‚ my sister‚ and I thought we would have a terrible week. How could we get through the long evenings is such a quiet house? What would it be like without all the shows to keep us company? We soon realized‚ though‚ that living without television for a while was a stroke of good fortune‚ It became easy for each of us to enjoy some activities alone‚ to complete some postponed chores‚ and to spend rewarding time with
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Life without Television When my family’s only television set went to the repair shop the other day‚ my parents‚ my sister‚ and I thought we would have a terrible week. How could we get through the long evenings in such a quiet house? What would it be like without all the shows to keep us company? We soon realized‚ though‚ that living without television for a while was a stroke of good fortune. It became easy for each of us to enjoy some activities alone‚ to complete some postponed chores‚ and
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Frederick Douglas said “without a struggle‚ there can be no progress.” Frederick Douglas stated these words halfway through his famous “West India Emancipation” speech. He spoke of the progress that is born when struggle is overcome. Douglas believed that hardships must be present for success to occur. Struggles make people better because it teaches them how to do something the right way. It may be hard to overcome a struggle at first‚ but in the end it will be better than when you started. To start
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What is Life Without Gambling? After reading about Dr. Tamokashis field work I realized how gambling is an incredibly important aspect of the Gende people of the Yandera village. In our culture gambling is looked down upon. However‚ for the Gende people it helps redistribute the wealth back into the economic system to those who are in need. If an anthropologist who had an ethnocentric view would walk into the Gende culture the effects could be disastrous. By taking away something as minuet to us
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Napoleón Isabelo Veloso Abueva (born January 26‚ 1930)‚ more popularly known as Napoleón Abueva‚ is a Filipino artist. He is a sculptor given the distinction as the Philippines’ National Artist for Sculpture. He is also entitled as the "Father of Modern Philippine Sculpture". He is the only Boholano given the distinction as National Artist of the Philippines in the field of Visual Arts. Among the major works of Abueva are as follows: Kaganapan (1953)‚ Kiss of Judas (1955); The Transfiguration at
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A very good morning to respected teachers and my dear friends today‚ I ____ has got a golden opportunity to speak a few words on the topic ’ A world without internet’ Internet has become a part of our lives. The Internet has positively changed the face of modern day communication and commerce. It has evolved to become one of the most important inventions in mankind’s history. The Internet is all about simple and speedy communication. It connects people from all over the world. It has reduced the
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A Bed Without a Quilt is Like a Sky Without Stars "Bear in mind that the wonderful things you learn in your schools are the work of many generations. All this is put in your hands as your inheritance in order that you may receive it‚ honor it‚ add to it‚ and one day faithfully hand it on to your children" was once declared by perhaps the greatest scientist of all time‚ Albert Einstein. In the short story Everyday Use‚ Alice Walker teaches us lessons on true inheritance; what it is and who can receive
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Children without Parents Being from a single parent household‚ I can personally tell you that it really has its disadvantages. The absence of a father figure has drastic effects in a child’s life. Compared to living with both parents‚ living in a single-parent household doubles the risk that a child will suffer physical‚ emotional‚ or educational neglect. A study of 109 juvenile offenders indicated that family structure significantly predicts delinquency. Particularly boys of single parent
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