Midland Energy Resources Midland Energy Resources is a fully integrated energy company with operations in E&P‚ Refining & Marketing (R&M) and Petrochemicals. Capital budgeting at Midland is done using discounted cash flow method and weighted average cost of capital (rwacc). Corporate Weighted Average Cost of Capital‚ rwacc The primary use of the corporate rwacc is valuation (TV=FCF/(rwacc-g)). While the rwacc may be used for evaluating internal projects‚ the usage will be incorrect owing to the
Premium Net present value Weighted average cost of capital Cash flow
Answer Case Study 2 Midland Energy Resources (as a whole company) According to the article‚ the beta of Midland Energy is 1.25. beta=1.25 cost of equity re = rf + beta * (EMRPs) EMRPs = 5.0% We assume that the company will run for next 30years‚ so the rate of risk free is 4.98% rf = 4.98% Cost of Equity: rE = rf + beta * (EMRPs) = 4.98% + 1.25 * 5% = 11.23% Market Value of Equity = $134114m (Exhibit 5) Cost of Debt 30years‚ rD = rf + spread to treasury = 4.98% + 1.62% = 6.60% Market
Premium Mathematics Financial markets Balance sheet
The geology of carboniferous of the Midland Valley of Scotland Research Aims This essay will cover the basic geology of the Midland Valley‚ the changes in structure and volcano activities during the carboniferous period. General introduction of the Midland Valley The carboniferous is a period between 290 and 360 million years ago(Ref 1‚p.8‚Scotland Through Time). The Midland Valley was covered with lots of rainforest and numerous of coral reefs flourished in the tropical seas. Volcanos eruptions
Premium Water Plate tectonics Earth
1.) How does Midland determine that shares are undervalues? Midland Energy Resources determine that the shares are undervalued with a comparing from the intrinsic value of the shares and the actual stock price. The intrinsic value can be computed with the fundamental value of the enterprise minus the market value of debts divided per the number of shares outstanding. For calculate the fundamental value of the enterprise‚ Midland Energy Resources has to sum up all discounted future net cash flows
Premium Stock market Stock
BRITISH MIDLANDS‚ KEGWORTH AIR DISASTER PRE-CRISIS British Midlands Airways Limited (trading as BMI or British Midland International) was an airline with its head office in Donington Hall in Castle Donington‚ close to East Midlands Airport‚ in United Kingdom. It was acquired by international Airlines Group in April 2012 and was merged into British Airways by 28th October 2012. The airline flew to destinations in Europe‚ the Middle East‚ Africa and Central Asia from its operational base at London
Premium
Authority Authority‚ power and legitimacy are perceived as fundamental elements of contemporary society for the sole reason that these are the defining features of a culture with political and social organisations and hierarchies. The term ‘authority’ is commonly misused by academics as a synonym for ‘power’ or ‘legitimacy’ which has led to confusion regarding the entire concept of authority. Authority is generally defined as a person (or group of people) who has the power or right to give orders
Premium Max Weber Authority Sociology
Authority People in charge are flawed human beings as well as the rest‚ so they do not always make the right moral decisions. Authority figures tend to make mistakes when choosing what actions to take when necessary‚ therefore their ideas should always be questioned. Hitler is a great example of someone who should have been questioned. Jack from Lord of the Flies is also another instance in which someone’s decision’s should be investigated. Even though someone is in charge‚ does not mean they always
Free Human Morality The Holocaust
ABERDEEN AIRPORT 1. Background and Problem Statement Aberdeen Airport was opened in 1935 and it is owned by the British Airports Authority (BAA plc). Back then it was surrounded by countryside but presently‚ due to the development of the city‚ it is surrounded by houses. Currently the airport faces some issues due mainly to its location and accessibility. 2. Analysis of Data Aberdeen Airports it is a relatively small airport with one main passenger terminal and two which are specifically used by
Premium BAA Limited Airport Bus
ASSIGNMENT “Airport Privatization in India –Emerging Legal issues” * SLT RICHA GIRI Introduction The business of owning and managing airports‚ once considered a safe haven‚ is challenging even the best managers. Higher fuel prices and an economic downturn that started in the United States and is spreading to other countries are reducing demand for air travel and causing airlines to make deep cuts in capacity. While the impacts of these trends vary widely by airport and region
Premium Airport
7 Appendix P. Section 1 Executive Summary In this field project‚ our study company is Midland Group. It is the chain property agency with the longest history in Hong Kong. We only focus on property agency residential services only‚ due to the relevant information we got from interview. We have conducted an interview with one of the CEO in Midland Group‚ Dr. Sidney Sze. We talked about the Midland group’s different business units from residence agencies to financial services subsidiaries.
Premium Real estate