国外 financial report.docx
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国外 financial report.docx
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国外financialreport
1)IJMBACKGROUND
IJMCorporationBerhadisonetheMalaysia'sLeadingConstructionGroups.ItislistedonthemainmarketofBursaMalaysiaSecuritiesBerhad.Themainbusinessactivitiesofthecompanyisconstruction,propertydevelopment,manufacturingandquarrying,infrastructureconcessionsandplantations.TheheadquarterofthecompanyislocatedinSelangor,Malaysia.IJMCorporationBerhadhasexpandedthroughtencountrieswhereitfocusedinMalaysia,India,UnitedArabEmirates,ChinaandIndonesia.(IJM.COM,2011)
IJMCorporationBerhadiscamefromthreedifferentcompanies.Eachalphabetrepresenteddifferentcompanies.IstandsforIGBConstructionSdnBhd,JstandsforJurutamaSdnBhd,andMstandsforMudajayaConstructionSdnBhd.Thesecompaniesweremergedandformedinyear1983withanewcompanycalledIJMCorporationBerhad.Itpurposedtochallengewithotherbiggercompetitors.(IJM.COM,2011)
Aftermerged,thecompanystartedtodevelopitsownconstructiongroupandpromptlyacceptedbythemarket.Thecompanyalsostrengthenonitsabilities,foreignchallenging,andstrongerfinancialtounderpinagoodreputationasacontractor.Inaddition,IJMCorporationBerhadalsomergedwithRoadBuilderGroup(RBH)whereitisitselfcompetitor.ThismergingplanenabledIJMCorporationBerhadtoabsorbbenefitswhereitcancreatemorevacanciesandexpandintooverseamarkets.Tohavearapidgrowthwithitsbusinessoperation,IJMCorporationBerhadhasboughtoverofIndustrialConcreteProductsBerhadinyear2004.TheacquisitionhassucceededdiversifiedintoChina,IndiaandPakistanmarkets.(IJM.COM,2011)
Furthermore,IJMCorporationBerhadhasaimedtargetinfrastructureinvestmentstogeneratemorelongtermprofits.IJMGrouphasinvolvedinforeigninfrastructure.InMalaysia,theGroupworkedonthreehighwaysandportconfessionfromRBHmerger.TheGroupalsoinvestedinplantationsectorinyear1985.NowitislistedontheMainMarketofBursaSecurities.IJMPlantationsBerhadhashelpedtheGroup'searningovertheyears.(S,2011)
2)RatiosAnalysisTable:
Year
2009
2010
a)Sales
-12.77%
-7.59%
b)Costofsales
-17.38%
-11.96%
c)Expenses
15.18%
30.79%
d)GrossProfit
6.24%
7.68%
e)NetProfitbeforeTax
9.34%
16.87%
f)NetProfitafterTax
5.27%
13.28%
Year
2010
2011
g)GrossProfitMargin
23.76
27.59
h)NetProfitMargin
14.40
18.80
i)ExpensestoSalesRatio
10.31
14.54
j)NetOperatingProfitRatio
9.38%
13%
k)InventoryTurnover
6.65
4.84
l)InventoryTurnoverDaysRatio
54.87
75.42
m)ReturnonEquity(ROE)
0.42
0.49
n)ReturnonCapitalEmployed(ROCE)
173.8
10.55
o)CurrentRatio
3.31
3.52
p)AcidTestRatio
3.00
3.171
q)AccountReceivableTurnoverRatio
1.847
1.985
r)AccountReceivableTurnoverRatioinDays
197.63days
183.85days
s)AssetTurnoverRatios
sales/fixedassets
0.577
0.553
sales/totalassets
0.407
0.376
netprofit/fixedassets
0.083
0.100
netprofit/totalassets
0.0585
0.068
2)(i)RatiosAnalysis
IJMCorporationBerhadisabusinesswhichinvolvedinconstruction,propertydevelopment,manufacturingandquarrying,oilpalmplantationsandinternationalventures.Thestatementofcomprehensiveincomeandstatementoffinancialpositionofyear2009and2010ofthecompanyforIJMCorporationBerhadhaveresulteddifferentprofits.Itwillbeanalysedbyusingfinancialratiosrelatingtothetwoenterprises'financialyearsresults.Analysiscoveredthecomparisonandpercentageofthechangesfrombothyears'results.
Accordingtothebothfinancialstatements,thechangessalesthatcalculatedforyear2010to2011is-7.59%whichmeantthesalesisslowlygettingbetterbecausethesalesinyear2009to2010is-12.77%.Besidesthat,costofsalesextractedfrombothyear2010to2011is-11.96%and-17.38%,foryear2009to2010wherethecostofproductionisalsofolloweddecreasing.Thecompanyhasorganizedwelltheresourcesandutilizeditefficienttoavoidoverbudget.
Expensesfromthebothrecentyearsis30.87%butthepreviousyearis15.18%.Inthiscase,thecompanyused30.87%company'sexpenseswhereithasexceededdoublefigureofthepreviousyearsofchangesofexpenses.Thegrossprofitis7.68%for2010to2011andpastyearis6.24%.Netprofitbeforetaxandaftertaxare16.87%and13.28%foryear2010to2011.Thepastyear2009to2010is9.34%and5.27%.Forthechangestermofnetprofitaftertaxinyear2010to2011,thecompanyhasshownthattheyearned13.28%whereafterallitsexpenses,depreciationandtaxeshavebeenextracted.(I,2011)
Thegrossprofitforyear2010islowerthan2011whichare23.76%and27.59%.Thisratioindicateshowmucheachofeverydollarofsalesleftaftercostsofgoodsold.Inthiscase,inye
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