Dow Jones Sustainability Emerging Markets Index
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A STUDY on BEHAVIOUR PATTERN of DIVIDEND PAY-OUT: SELECTED BLUE-CHIP COMPANIES in INDIA Author Co - Author Dr.K.R.Sivabagyam A.Ranjitha Assistant Professor K
Compliance Engineering Journal ISSN NO: 0898-3577 A STUDY ON BEHAVIOUR PATTERN OF DIVIDEND PAY-OUT: SELECTED BLUE-CHIP COMPANIES IN INDIA Author Co - Author Dr.K.R.Sivabagyam A.Ranjitha Assistant Professor K. Madhu Varshini Department of Commerce N.Deekshithaa Sri Krishna Arts and Science College S. Kabilambika E-mail Id: [email protected] II M.Com Students MOB: 7871809789 E-mail Id: [email protected] [email protected] [email protected] [email protected] Mob: 9486939255; 9715184177; 9025868186 ABSTRACT Reliance Industries, Tata Consultancy services (TCS) and WIPRO in India and The term blue-chip was used to describe observe the behaviour pattern of the three high- priced stocks in 1923 when Oliver measures of dividend policy of the blue- Gingold, an employee at Dow Jones chip companies in India. observed certain stocks trading at $200 or more per share. Poker players bet in blue, KEYWORDS: Blue Chip Companies, white and red chips with blue chips having Dividend Policy, Investment Proposals. more value than both red and white chips. INTRODUCTION Today, blue chips stocks don’t necessarily refer to stocks with a high price tag, but In the exchange of India there are literally more accurately to stocks of high-quality thousands of companies but when it comes companies that have with stood the test of to financial stability only few companies time. A blue-chip company is a are financially stable and in other financial multinational firm that has been in aspects. Long term investors seek out for operation for a number of years. -
ANNUAL REPORT 2018 to Generate Economic and Social Value Through Our Companies and Institutions
ANNUAL REPORT 2018 To generate economic and social value through our companies and institutions. We have established a mission, a vision and values that are both our beacons and guidelines to plan strategies and projects in the pursuit of success. Fomento Económico Mexicano, S.A.B. de C.V., or FEMSA, is a leader in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume; and in the beer industry, through ownership of the second largest equity stake in Heineken, one of the world’s leading brewers with operations in over 70 countries. We participate in the retail industry through FEMSA Comercio, comprising a Proximity Division, operating OXXO, a small-format store chain; a Health Division, which includes all drugstores and related operations; and a Fuel Division, which operates the OXXO GAS chain of retail service stations. Through FEMSA Negocios Estratégicos (FEMSA Strategic Businesses) we provide logistics, point-of-sale refrigeration solutions and plastics solutions to FEMSA’s business units and third-party clients. FEMSA’s 2018 integrated Annual Report reflects our commitment to strong corporate governance and transparency, as exemplified by our mission, vision and values. Our financial and sustainability results are for the twelve months ended December 31, 2018, compared to the twelve months ended December 31, 2017. This report was prepared in accordance with the Global Reporting Initiative (GRI) Standards and the United Nations Global Compact, this represents our Communication on Progress for 2018. Contents Discover Our Corporate Identity 1 FEMSA at a Glance 2 Value Creation Highlights 4 Social and Environmental Value 6 Dear Shareholders 8 FEMSA Comercio 10 Coca-Cola FEMSA 18 FEMSA Strategic Businesses 28 FEMSA Foundation 32 Corporate Governance 40 Financial Summary 44 Management’s Discussion & Analysis 46 Contact 52 Over the past several decades, FEMSA has evolved from an integrated beverage platform to a multifaceted business with a broad set of capabilities and opportunities. -
Femsa: Un Grupo Económico Nacional
ISSN: 2448-5101 Año 1 Número 1 621 Julio 2014 - Junio 2015 FEMSA: UN GRUPO ECONÓMICO NACIONAL Primer Autora: Dra. Beatriz Pérez Sánchez Institución De Adscripción: Universidad Juárez Autónoma De Tabasco Dirección: Calle Tabasco Número 115 Colonia Gil Y Sáenz Código Postal 06080 Villahermosa, Centro, Tabasco, México Correo Electrónico: [email protected] Nacionalidad: Mexicana Cuarto Autor: Estudiante Jesús Alberto Morales Méndez Institución De Adscripción: Universidad Juárez Autónoma De Tabasco Dirección: Calle Romelio Oropeza De La Cruz Número 143 Fraccionamiento Jalapa Código Postal 86850 Jalapa, Tabasco, México Correo Electrónico: [email protected] Nacionalidad: Mexicano Fecha de envio:19/Marzo/2015 Fecha de aceptación: 20/Mayo/2015 ____________________________________________________________________ RESUMEN Analizar como los grupos económicos o corporativos deben adaptarse a entornos dinámicos e inestables tanto en el ámbito nacional e internacional, así como la influencia política que logran alcanzar por su poder económico, sigue siendo vigente en la era de la globalización de los mercados. En México el rol de los grandes corporativos en el crecimiento y desarrollo del capitalismo permite visualizar sus estrategias. Se particulariza el caso de FEMSA en un periodo de estudio de 1899 a 2013. En el porfiriato, entre 1890 y 1910 se da una marcada diversificación de las inversiones que iniciaron tanto industrias dedicadas a abastecer el consumo productivo (grandes fundiciones, cemento, vidrio) como el consumo personal (cerveza y otras bebidas, textiles, artículos para higiene, materiales para la construcción, alimentos elaborados), el ramo minero, el crédito y los bancos, la propiedad y explotación de la tierra, los servicios y el transporte. En 1891 se creó la Fábrica de Cerveza y Hielo Cuauhtémoc comenzó a operar a finales de 1891 y es el origen de Femsa. -
Empresas Copec S.A. Consolidated Financial
EMPRESAS COPEC S.A. CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2018 IFRS - International Financial Reporting Standards IAS - International Accounting Standards NIFCH - Chilean Financial Reporting Standards IFRIC - International Financial Reporting Interpretations Committee US$ - United States dollars ThUS$ - Thousands of US dollars MUS$ - Millions of US dollars MCh$ - Millions of Chilean Pesos COP$ - Colombian pesos S./ - Peruvian nuevo sol WorldReginfo - d6a34cd4-9970-4f3e-9bfb-af0f71482286 INDEPENDENT AUDITORS' REPORT Santiago, March 8, 2019 Dear Shareholders and Directors Empresas Copec S.A. We have audited the accompanying consolidated financial statements of Empresas Copec S.A. and affiliates, which comprise a consolidated statement of financial position as of December 31, 2018 and 2017, the corresponding consolidated statements of income by function, consolidated comprehensive income, consolidated changes in equity and consolidated cash flow for the years ending on these dates, and the corresponding notes to the consolidated financial statements. Management's responsibility for the consolidated financial statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This responsibility includes the design, implementation and maintenance of relevant internal controls for the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether -
Name Surname
Aniket Agarwal Partner Emerald House 1B Old Post Office Street Kolkata 700 001 India T: +91 33 2248 7000 F: +91 33 2248 7656 E: [email protected] Practices: Aniket Agarwal is a Partner in the Corporate and Commercial Corporate and Commercial practice group in the Kolkata office. He specialises in corporate Mergers and Acquisitions restructuring, mergers, acquisitions, demergers, Dispute Resolution reconstructions and capital and debt reorganisation. Aniket also has considerable experience in varied other areas of Education: practice and advises clients on various aspects of law, including LL.B., University of Calcutta family arrangements, securities laws, joint ventures and other (1991) commercial contracts, constitutional writs, suits, mismanagement and oppression petitions, insolvency and Professional Affiliations: winding up and other commercial and civil litigation. Bar Council of West Bengal Aniket has handled mergers, acquisitions, demergers and Incorporated Law Society of litigation in various jurisdictions in the country, including Kolkata Kolkata, Mumbai, Delhi, Chennai, Bengaluru, Hyderabad, Sectors: Ahmedabad, Bhubaneswar Jodhpur, Gwalior, Allahabad, FMCG Gauhati, Shillong and Shimla. Manufacturing Representative Matters: In his areas of expertise, Aniket has represented and advised the following clients: Mergers and Acquisitions: . ITC Limited and its subsidiaries on various mergers and demergers, including Merger of ITC Bhadrachalam Paperboards Limited and ITC Hotels Limited with ITC Limited and Demerger of Non-Engineering Business of Wimco Limited to ITC Limited; . Hooghly Met Coke & Power Company Limited on its merger with Tata Steel Limited; . TATA Global Beverages Limited (TGBL) and its subsidiaries on various Mergers and Reconstructions, including Merger of Mount Everest Mineral Water Limited with TGBL, reconstruction by transfer of plantation business to Amalgamated Plantations Private Limited and Merger of wholly owned subsidiaries of TGBL with TGBL; . -
Latin American State Oil Companies and Climate
LATIN AMERICAN STATE OIL COMPANIES AND CLIMATE CHANGE Decarbonization Strategies and Role in the Energy Transition Lisa Viscidi, Sarah Phillips, Paola Carvajal, and Carlos Sucre JUNE 2020 Authors • Lisa Viscidi, Director, Energy, Climate Change & Extractive Industries Program at the Inter-American Dialogue. • Sarah Phillips, Assistant, Energy, Climate Change & Extractive Industries Program at the Inter-American Dialogue. • Paola Carvajal, Consultant, Mining, Geothermal Energy and Hydrocarbons Cluster, Inter-American Development Bank. • Carlos Sucre, Extractives Specialist, Mining, Geothermal Energy and Hydrocarbons Cluster, Inter-American Development Bank. Acknowledgments We would like to thank Columbia University's Center on Global Energy Policy and Philippe Benoit, Adjunct Senior Research Scholar at the Center, for inviting us to participate in the workshop on engaging state-owned enterprises in climate action, a meeting which played an instrumental role in informing this report. We would also like to thank Nate Graham, Program Associate for the Inter-American Dialogue’s Energy, Climate Change & Extractive Industries Program, for his assistance. This report was made possible by support from the Inter-American Development Bank in collaboration with the Inter- American Dialogue’s Energy, Climate Change & Extractive Industries Program. The opinions expressed in this publication are those of the authors and do not necessarily reflect the views of the Inter- American Development Bank, its Board of Directors, or the countries they represent. The views contained herein also do not necessarily reflect the consensus views of the board, staff, and members of the Inter-American Dialogue or any of its partners, donors, and/or supporting institutions. First Edition Cover photo: Pxhere / CC0 Layout: Inter-American Dialogue Copyright © 2020 Inter-American Dialogue and Inter-American Development Bank. -
The Mineral Industry of Taiwan in 2004
THE MINERAL INDUSTRY OF TAIWAN By Pui-Kwan Tse Taiwan is an island that is located south of Japan and east encourage Taiwanese businesses to stay in Taiwan and would of mainland China in the Pacific Ocean. In 2004, Taiwan’s attract foreign businesses to set up global logistics centers in economy grew by 5.7%, which was the largest increase since Taiwan. Developing service industries such as entertainment, 2000. After reaching a peak of 7.9% in the second quarter, environmental protection, medicine and healthcare, and tourism the economy slowed to 3.3% in the fourth quarter because of and sports recreation would enhance the quality of life in higher global oil prices and the deceleration of export growth Taiwan. The CEPD projected that the service sector would during the second half of the year. The economic growth was grow 6.1% per year through 2008 and that the percentage of the generated by private consumption and investment. Private GDP generated by the service sector would increase to 67% in consumption increased by 3.1% and private investment rose by 2008 from 63.5% in 2003 (Taiwan Headlines, 2004b§; 2005d§). 28.2% compared with that of the previous year. The recovery The Taiwan authorities carried out the second phase of of the information and communication technologies industry Taiwan’s financial reform program in 2004. The number of was the main reason for the increased business investment. In state-owned banks (banks in which the government held 30% 2004, Government fixed investment decreased by 4.2% because or more interest) would be reduced to 6 from 12 at yearend of higher prices on construction materials and because some 2005. -
Risk Profile Performance Vs Benchmark Asset Mix Performance
Performance Summary May 31, 2019 RICH Fund III ULIF 050 17/03/08 LRICH3 105 Fund Objective: Inception Date March 17, 2008 The objective of the fund is to generate ₹ superior long-term returns from a diversified Assets Invested 248.3 Million portfolio of equity and equity related instruments of companies operating in four Fatema Pacha important types of industries viz., Resources, Fund Manager(s) Funds Managed: 8 (8 Equity) Investment-related, Consumption-related and Human Capital leveraged industries. Benchmark BSE 200 NAV ₹ 26.0105 as on May 31, 2019 Return Risk Profile Fund Performance (As on May 31, 2019 ) Since 1 Month 6 Month 1 Year 2 Year 3 Year 4 Year 5 Year Inception Fund Return 1.62% 8.41% 3.84% 6.2% 9.95% 6.58% 10.13% 8.9% Benchmark Return 1.45% 7.78% 7.14% 9.41% 13.14% 8.98% 11.05% 9.31% Performance Vs Benchmark Asset Mix (As on May 31, 2019) 30.00 4% ₹ 9.28 Million 25.00 20.00 ) ₹ V in ( NA 15.00 10.00 5.00 Jan 10 Jan 12 Jan 14 Jan 16 Jan 18 96% ₹ 238.99 Million Period Equity and Equity related securities Minimum 80% RICH Fund III BSE 200 Debt, Money Market and Cash Maximum 20% Details are as per IRDAI Product Filing. Returns greater than 1 year are annualized. Past performance is not indicative of future performance. Performance Summary May 31, 2019 % of Invested Top 10 Sectors * Assets Financial and insurance activities 24.42% Computer programming consultancy and related activities 12.16% Infrastructure 9.13% Manufacture of coke and refined petroleum products 6.74% Manufacture of chemicals and chemical products 5.75% Manufacture of tobacco products 4.81% Manufacture of motor vehicles trailers and semi-trailers 3.71% Manufacture of pharmaceuticalsmedicinal chemical and botanical 2.98% products Manufacture of electrical equipment 2.44% Manufacture of other non-metallic mineral products 2.32% OTHERS 25.54% *As per IRDAI NIC industry classification Details are as per IRDAI Product Filing. -
Taiwan Semiconductor Manufacturing Company Limited and Subsidiaries
Taiwan Semiconductor Manufacturing Company Limited and Subsidiaries Consolidated Financial Statements for the Nine Months Ended September 30, 2020 and 2019 and Independent Auditors’ Review Report Taiwan Semiconductor Manufacturing Company Limited and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2020 AND 2019 (Amounts in Thousands of New Taiwan Dollars, Unless Specified Otherwise) (Reviewed, Not Audited) 1. GENERAL Taiwan Semiconductor Manufacturing Company Limited (TSMC), a Republic of China (R.O.C.) corporation, was incorporated on February 21, 1987. TSMC is a dedicated foundry in the semiconductor industry which engages mainly in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. On September 5, 1994, TSMC’s shares were listed on the Taiwan Stock Exchange (TWSE). On October 8, 1997, TSMC listed some of its shares of stock on the New York Stock Exchange (NYSE) in the form of American Depositary Shares (ADSs). The address of its registered office and principal place of business is No. 8, Li-Hsin Rd. 6, Hsinchu Science Park, Taiwan. The principal operating activities of TSMC’s subsidiaries are described in Note 4. 2. THE AUTHORIZATION OF FINANCIAL STATEMENTS The accompanying consolidated financial statements were reported to the Board of Directors and issued on November 10, 2020. 3. APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING STANDARDS a. Initial application of the amendments to the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, “IFRSs”) endorsed and issued into effect by the Financial Supervisory Commission (FSC) The initial application of the amendments to the IFRSs endorsed and issued into effect by the FSC did not have a significant effect on TSMC and its subsidiaries’ (collectively as the “Company”) accounting policies. -
STOXX Greater China 80 Last Updated: 01.08.2017
STOXX Greater China 80 Last Updated: 01.08.2017 Rank Rank (PREVIOU ISIN Sedol RIC Int.Key Company Name Country Currency Component FF Mcap (BEUR) (FINAL) S) TW0002330008 6889106 2330.TW TW001Q TSMC TW TWD Y 113.9 1 1 HK0000069689 B4TX8S1 1299.HK HK1013 AIA GROUP HK HKD Y 80.6 2 2 CNE1000002H1 B0LMTQ3 0939.HK CN0010 CHINA CONSTRUCTION BANK CORP H CN HKD Y 60.5 3 3 TW0002317005 6438564 2317.TW TW002R Hon Hai Precision Industry Co TW TWD Y 51.5 4 4 HK0941009539 6073556 0941.HK 607355 China Mobile Ltd. CN HKD Y 50.8 5 5 CNE1000003G1 B1G1QD8 1398.HK CN0021 ICBC H CN HKD Y 41.3 6 6 CNE1000003X6 B01FLR7 2318.HK CN0076 PING AN INSUR GP CO. OF CN 'H' CN HKD Y 32.0 7 9 CNE1000001Z5 B154564 3988.HK CN0032 BANK OF CHINA 'H' CN HKD Y 31.8 8 7 KYG217651051 BW9P816 0001.HK 619027 CK HUTCHISON HOLDINGS HK HKD Y 31.1 9 8 HK0388045442 6267359 0388.HK 626735 Hong Kong Exchanges & Clearing HK HKD Y 28.0 10 10 HK0016000132 6859927 0016.HK 685992 Sun Hung Kai Properties Ltd. HK HKD Y 20.6 11 12 HK0002007356 6097017 0002.HK 619091 CLP Holdings Ltd. HK HKD Y 20.0 12 11 CNE1000002L3 6718976 2628.HK CN0043 China Life Insurance Co 'H' CN HKD Y 20.0 13 13 TW0003008009 6451668 3008.TW TW05PJ LARGAN Precision TW TWD Y 19.7 14 15 KYG2103F1019 BWX52N2 1113.HK HK50CI CK Property Holdings HK HKD Y 18.3 15 14 CNE1000002Q2 6291819 0386.HK CN0098 China Petroleum & Chemical 'H' CN HKD Y 16.4 16 16 HK0823032773 B0PB4M7 0823.HK B0PB4M Link Real Estate Investment Tr HK HKD Y 15.4 17 19 HK0883013259 B00G0S5 0883.HK 617994 CNOOC Ltd. -
Capital Increase Presentation
Enel Américas Capital Increase February 27th, 2019 Table of Contents Our Track Record Transaction Rationale Transaction Structure Closing Remarks 2 Our Track Record 3 Proposed Equity Capital Increase Facilitates Pursuit of Proven Growth Strategy Formation of Successful Up to US$ 3.5 Bn Continued the Largest Delivery of Capital Increase Growth Private Utility Growth and Capital Structure Strategy & Company in Shareholder Optimization to Consolidation LatAm Value Unlock Growth Created Americas- Organic Facilitates execution of Minority investors buyout focused growth vehicle growth strategy with leading market Captured efficiencies Privatization and position Cash flow optimization consolidation Expanded Free Market Unlocked efficiencies and Enel X segments Credit enhancement Enel X expansion Simplified structure Inorganic Higher market capitalization, float and Reduced leakage Acquired Enel Dx São liquidity Paulo and Enel Dx Goiás evidencing strong value creation capabilities 4 Our Track Record Sustainability, Growth, Efficiencies and Value Creation 2016 2018 I&N(3) End users MM 14.1 24.5 EBITDA US$ Bn 2.4 3.4 Growth Net Income US$ Bn 1.0 1.7 CAPEX US$ Bn 1.2 1.7 Group simplification Number of companies 43 32(4) Opex reduction Cumulated efficiencies(1,5) US$ MM ~ 130 ~ 420 Shareholder return Total Dividends US$ Bn 0.3 0.5 Value creation People benefited(1) MM (cumulated) 1.4 2.7 Sustainability commitment Index Member Number of indexes 0 4(2) Notes: 3. Infrastructure & Networks 5 1. Base year 2015 4. Not including acquired -
Inventec Corporation
(English Translation of Pro Forma Financial Report Originally Issued in Chinese) PEGATRON CORPORATION AND ITS SUBSIDIARIES PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2008 AND 2007 (With Independent Auditors’ Report Thereon) Address: 5F., No.76, Ligong St., Beitou District, Taipei City 112, Taiwan Telephone: 886-2-8143-9001 - 1 - TABLE OF CONTENTS Contents Page Cover Page 1 Table of Contents 2 Independent Auditors’ Report 3 Pro Forma Consolidated Balance Sheets 4 Pro Forma Consolidated Statements of Income 5 Pro Forma Consolidated Statements of Changes in Stockholders’ Equity 6 Pro Forma Consolidated Statements of Cash Flows 7 Notes to Pro Forma Consolidated Financial Statements (1) Organization and Business 8 (2) Summary of Significant Accounting Policies 8-28 (3) Reasons for and Effects of Accounting Changes 28 (4) Summary of Major Accounts 28-49 (5) Related-Party Transactions 50-56 (6) Pledged Assets 56 (7) Significant Commitments and Contingencies 57-58 (8) Significant Catastrophic Losses 59 (9) Significant Subsequent Events 59 (10) Others 59 (11)Additional Disclosures 60-61 (12)Segment Information 61-62 - 2 - (English Translation of Financial Report Originally Issued in Chinese) PEGATRON CORPORATION AND ITS SUBSIDIARIES PRO FORMA CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2008 AND 2007 (All Amounts Expressed in Thousands of New Taiwan Dollars, Except for Share Data) December 31, 2008 December 31, 2007 Amount % Amount % ASSETS Current Asset: Cash (Notes 2 and 4(1)) $ 27,065,987 12 26,294,882 9 Financial assets reported