This essay will discuss how can we apply metaphysics to our daily life as students, including activities and philosophical situations that take place through the week. The writing will have a special focus on metaphysics, on how it highly impacts and relates to a high school studentâ€™s daily life, by using tools regarding this topic by Alain Badiou, Van Inwagen, Plato, Aristotle and The Matrix. Philosophy is the invention of new problems, however not all situations can be philosophically analyzed. That is why a current philosopher from metaphysics explains in his text â€œThe Eventâ€ how are these situations identified, because currently a very crucial and polemique problem is that most of people think that philosophical situations are constantly affecting us in every single thing we do, which leads most people to mistaken normal standpoints as philosophical situations. Due to that, the author of â€œThinking the Event â€ has made this writing to help people to stop using the term philosophy wrong. The three aspects that differ a normal standpoint with a philosophical situation are choice, distance and break. The first aspect means either picking to think or not thinking, when a complex and not regular situation takes place, which means choosing to research and get to know well the problem, or leave it how it is and walk away; the second requisite for a philosophical situation is the distance, which is the comparison of the actual situation which is commonly detected as the truth and its farness from the power, which in regular situation there is no real distance or disagreement; the last condition is the break, which basically is to realize and accept how different is the event from reality as we know it. Cyber bullying and bullying are new problems that have grown exponentially in the twenty first century, because of the constant invention of technology and social networks. The stage of high school is a highly concentrated area of both types of bullying and other forms of molesting, however all of these according to the program of Bullying Stops With Me, oneÂ out of four students is bullied, from which eighty percent of the times ends in physical aggression. To identify if this is a philosophical situation, the three requirements need to be present. The first one is the choice to think or not to, of why the bully is attacking the bullied; the second one is to find the distance between power and truth, in this case the power represented by the bully who is doing this because of any type of problems he has internally, that he projects towards the bullied, who represents the truth that has no reason to deserve the treatment of this teenager; the third is the break, which is being able to differ how bullying by this boy is so far from the ideal situation where he has no real problems with the bullied, who has to deal with the aggressive discharges from the damaged kid. The three conditions for a philosophical situation to be detected have been successfully proven, in a given event in a high school studentâ€™s life. This has been an example of a daily problem that many students experience in their studies at school, which after analysis it has been able to be categorized as a philosophical situation. After knowing how to differentiate regular problems from philosophical situations, it is easier to go deeper into philosophy and learn from one of its branches, which is metaphysics. Van Inwagen defines metaphysics as the study of ultimate reality, which shows a brief explanation of the topic, but still it contains a deep meaning in each word that conforms this definition given by the author. One great mind of this branch of philosophy is Plato, student of Socrates and teacher of Aristotle, who has deeply influenced many authors and philosophy as we know it today. Many high school students go through a very rough stage in their lives where the image of each person is always compared with the ideal one. These images are created or known through the ones that photoshop editors pick as perfect. They have a huge impact on the lives of high school students, which have created a substantial amount of problems to junior high students such as anorexia and bulimia among other problems because of the authors and editors and the figures that they have created to be the perfect ones and the ones that everybody should aspire to be. Plato discusses the ideal form or intelligible world and its influence on matter. This point taken by the greek philosopher relates to the perfect picture earlier discussed, of how the ideal image of a woman or man should be, which in consequence affects the matter or the scholars on their body, because theyÂ want to resemble to those icons that the editors have created. This point is also taken by the movie of The Matrix when Neo is in the white room, seen as the residual image (perfect form of himself) which can be related to the ideal model that the world has created of the human body, compared to the natural apppearence when he is in the real world, where he appears bold and his body is different. The relation of the photoshop form, the residual and the figure on the Matrix from the intelligible (Plato) world are things that highly influence a studentâ€™s life, which show how we are strange prisoners from these images, because these pupils are not common prisoners with shackles and in a prison as Plato mentions on his text The Allegory Of The Cave. Plato mentions the phrase â€œWe are strange prisonersâ€ because of the uncommon slavery that the world has made us be. This philosopher who lived thousands of years ago saw this polemique, that back then was present and after centuries it still is present in a high school studentâ€™s life and in a movie such as The Matrix. The film shows everyone as a prisoner from the program (the matrix), that was made by the machines to have all humans controlled so that they could take their energy. Taking into account this motion picture earlier mentioned, there is a relation between the real lives of each person in the matrix with the prisoners of The Allegory of the Cave. This text is about slaves shackled without any movement, who have been like that all of their lives, inside a cave where they see these shadows and a stories about them on a wall before them, with a fire behind to illuminate these shapes. One day the master decides to free one of the slaves who is taken outside the cave by force. Once the prisoner is out it narrates how difficult it is for him to get used to the light of the sun and the unusual world before him. For him to be able to adjust to these changes he starts by just seeing shadows, from that the moon and at the end the Sun. After his experience he gets back to the cave and he tells the other slaves what he lived and experienced, who later mocked him. At the end he gets to the conclusion that he rather be a poor servant with that knowledge than back in the shadows with ignorance. The Allegory of the Cave has six important symbolisms that relate to the lives of many high school students. The first one is the cave, which is the society, the knowledge and costumes that most of the people consider as the absolute truth; the second is the fire, representing the knowledge that society gives to each person, which shapeÂ many lives of scholars through their acceptance of these; the third one is the prisoners that symbolizes the students; the fourth is the shadows, that are the things that learners think they know, which are perceived through their senses; the fifth is the shackles, representing the comfort zone where undergraduates stay due to the fear of being judged; the final is the light, where they can actually find the real knowledge. These symbolisms represent to be part of many of the lives that high school students have through their three years of study, because a great amount of these undergraduates constantly accept rules or truths that others implement on them. These situations reveal one very important problem that they experience when they try to belong to a group. They take the information that group gives them (fire symbolism) and thatâ€™s what they use as reference point to other activities they face through their day. As consequence they become strange prisoners from that information that is given to them, not allowing them to come out to the light (real knowledge) and experience the real world, which is way to different and more filled up with information about the world. In some cases there are students that notice that they are slaves of information that the groups give them and they decide to leave all that information behind and experience the real world, however for many it is very hard to get accustomed to the real world and its information due to the dramatic change, which in consequence leads them back to the world of shadows. Another greek philosopher named Aristotle, who made a huge impact on western philosophy discusses on his studies the four causes that lead a person to be virtuous. These causes are the material (material of what and object is composed of), the formal (the potentiality of what it can become or work for), the efficient (tools that shape the object) and the final (its purpose). These four causes are the ones that through reason lead people to accomplish their total actuality (ultimate purpose). The four causes are deeply related to a scholarâ€™s life, as does any other human being, which can lead them to be virtuous people through the completion of the stages, however when teenagers try to fit in a club the causes seem to be farther away because of the shape that their lives take once they commit to belong to a group. High school is about fitting in and belonging to a society, where he or she relates to the people within, nonetheless these people usually try to belong to the high and social groups, which dictate a set ofÂ norms in order to be part of it. These rules are usually doing drugs, drinking alcohol, smoking cigarettes and relationships with the opposite gender. They usually lead the subject to an acceptable place within the group, yet these requisites lead the person to move further apart from their causes and to a virtuous life. Peer pressure assumes an important role in this case, principally because the teenager desires so bad to belong, that he or she will do anything to accomplish their goal. This situation has created polemique, because once you enter high school no person wishes to be at the bottom, without being recognized socially, which builds another wall between the subject and the final cause depending on the type of group that a person wants to belong to and how far are the ideologies of the group from the ones of the person. Van Inwagen, a metaphysician debate on how appearances tend to be deceptive and that reality stands behind all these appearances. These, disguise the reality and they do this type of â€œschemeâ€ through the misleading of what people sense. Many social groups and images that photoshop has ideally formed have highly disguised the truth of perfect and ideal body. In the case of groups they show how not having parents is better (appearance), yet these people suffer of psychological problems and loneliness (reality) which they tend to hide with the amazingness of not having elderly people caring for you, leading scholars to have problems with their parents because of the attention and concern that they have for them that it is bad seen in the teen society. Another case that can relate to the point of Van inwagen of appearances being deceptive is drinking and smoking, which is seen in social high school groups to be fine and without consequences (appearances), however drinking and drugs are another way to balance their lack of attention in parenthood (reality). For photoshop they disguise these models with perfect body, teeth, hair, skin among other things when the reality is that these models just stand there and let the photographers take pictures of them, which later are incredibly edited and placed on magazines and big announcements that serve the purpose of projecting an ideal form to sell advertisements among other things. Another important situation of an undergraduate is the effort and results they tend to have at school. Many students consider high school as a social network that leads them to a happy stage of their lives by partying and skipping classes, nonetheless they forget the importance of their education when theyÂ fail classes, which can be occasionally improved, however the way that students deal with failure is why they cannot succeed. Plato teacher of Aristotle debates that an unexamined life is not worth living because even though people experience some discomfort or pain this is only temporary and it is worth it due to what comes next. The â€œtemporary painâ€ can be seen in this case as studying more and partying less, that eventually would lead to having good grades, getting into a good college and being successful. Yet if they remain in an unexamined life of ignorance they will live a different type of pain, which will remain there for all of their lives. This last phrase of different type of pain is related to a scholarâ€™s life when he fails classes and eventually school, leaving him without his or her studies, leading to a bad employment and misery. That is why in the Allegory of the Cave, Plato in his conversation with Glaucon mentions how the slave that was set free and comes back to the cave says that he would rather live being a poor servant of a poor master with all the knowledge that back in the shadows. This shows in the studentâ€™s life that if he went out to the real world and saw what he could become and the truth about it, he would not rather be an ignorant teen that only parties who remains in the shadows because he can not see what can happen if he remains the same. To conclude this essay, it has been seen the different aspects that a teenager boy or girl on high school can have and how are they related to the different authors and movie of metaphysics. These authors have one thing in common which is seeking the truth, however their methods to guide them to the goal differ. The two main authors are of greek background, Aristotle and Plato. Aristotle focuses his methods and theory on the sensible realm and later on the intelligible realm, unlike Plato who uses these concepts the other way around focusing on the world of forms or ideal world and its influence on the natural realm. It is for each person to decide the view on which they stand, which could be philosophy being a set of footnotes of Plato; Aristotle being superior than Plato, because he took Platoâ€™s ideas and improved them; or Plato focuses on abstract ideas and Aristotle is concentrated on concrete objects and its development, changes and purposes. This views are for each person to the decide focusing mainly on undergraduates and their philosophical situations and how they wish to deal with them by either choosing one of the views or remaining in the shadows. Bibliography BIBLIOGRAPHY Cohen, Marc. The Allegory of the Cave. 11 July 2013. 12 September 2014 . Cohen, S. Marc. Aristotleâ€™s Metaphysics. 11 June 2012. 12 September 2014 . Paul, John. 2 July 2013. 11 September 2014 . Stanford Universuty. Metaphysics. 10 September 2007. 11 September 2014 . Thesaurus.com. Synonims. . Unknown. Notes on Alain Badiouâ€™s Thinking the Event. 22 June 2012. 12 September 2014 .
A Contrastive Study between English and Arabic Prepositional Phrases - Essay Example This problem also has pedagogical implications, as a better understanding of the problems faced by students during translation can enable teachers to better address the problem. This study could therefore prove useful in the field of language education, particularly for teaching EFL to Arab students.Ho-Abdullah & Hasanâ€™s (2009) study also examined issues concerning English prepositions when translated into Arabic and vice versa. However, it was concerned solely with the preposition explaining how its translation reflects the use of different conceptual mapping domains. Moreover, this study only involved 75 Iraqi secondary school students, so it was focused on the translation difficulties faced by Arabic speaking students when translating from English into Arabic. In Habashâ€™s (1982) earlier study on the use of English prepositions by Arab students, the errors made in using prepositions were categorised according to their number of occurrences. While this is useful, again the focus was on teaching English to Arabic students in order to improve their English. Moreover, the analysis of translations was based on existing and formal written work rather than under experimental conditions.This study attempts to compare and analyze English and Arabic prepositional phrases in terms of their functions, uses, order and meanings. It also attempts to illustrate similarities and differences between English and Arabic prepositional phrases as not every prepositional phrase.... This includes difficulties related to pronunciation (Al-Saidat, 2010), various reading difficulties (Patil, N.d.), and so on. This study will be concerned with difficulties encountered in translating prepositional phrases. The preposition is a key component of the prepositional phrase so the difficulty in translating the latter is often due to difficulty with the preposition itself. The difficulty of translating prepositions from English into Arabic can be illustrated by the contrast between and . Whereas suggests a position, suggests a movement, but in Arabic, would be used in both cases, so Arabs may find it difficult to differentiate between them. The Arabic thus has a much wider domain for its usage, and it can also be used for expressing , , , etc. On the other hand, Arabic prepositions are purely spatiotemporal prepositions whereas English prepositions actually function as either proper prepositions, substantive-derived locative (directional) adverbs, or as particles (Lindstromberg, 2010, p. 23). Hence, the English concept of a preposition is wider in scope than in Arabic. The nature of the errors tends to be errors of omission, substitution, or redundant usage. Prepositions also pose a problem for machine translations in translating English noun phrase into Arabic (Shaalan et al., 2004) so the problem is not unique to human translation. Also, the problem is by no means peculiar to Arab students. English prepositions are notorious for being problematic for many EFL students. As Pittman (1966 in Mickiewicza, 1993, p. 181) remarked, â€œAmong those who teach or learn the English language, prepositions have earned a reputation for difficulty if not downright unpredictabilityâ€. The main
Financial Performance Review of Hup Seng Perusahaan Makanan
REVIEW OF THE FINANCIAL PERFORMANCE
Hup Seng Perusahaan Makanan (M) Sdn.Bhd has performed very strongly in our financial year ended 31 December, 2008. Not only the revenue has surpassed the RM200 million mark for the first time in HSIBs history, profit before tax hit a record high of RM21 million for the financial year ended 31 December, 2008 increased from preceding year corresponding period of RM6 million by a hefty RM15 million or 250%.
The Groups record profit is respectable indeed, considering a challenging operating environment in which high cost pressures are the order of the day in better part of the year. By keeping close momentum with volatile movement of major material prices, the Group has promptly reacted with cost recovery exercises in February 2008 and again in June 2008 to protect the margin. Nevertheless, prices for most of the key input materials were falling from historical high towards the end of third quarter impacted by fear of global recession as a result of credit crunch. The continued efforts to enhance operating efficiency within the Group have also contributed greatly towards the bottom line of the year, best ever achieved in the Groups history.
Revenue rose by 14% to RM220 million as compared with preceding year corresponding period of RM193 million amid a lower production volume. The increase was largely due to selected price adjustments necessitated by the steep increases in raw material costs.
The Group has no borrowings and has a cash balance of RM21 million as at the end of the financial year. Net asset per share stood at RM2.10 and earnings per share (EPS) improved significantly from 7.9 sen in 2007 to 26.8 sen.
Hup Seng Perusahaan Makanan (M) Sdn. Bhd., established in 1958, has been a household name synonymous with quality biscuit manufacturing. Today, it is one of Malaysias leading biscuit manufacturers with many accumulated outstanding achievements. Through continuous upgrading, our products have been honoured with numerous awards worldwide, marking important milestones for the companys history. In recognition of Hup Sengs stringent quality management system, the company was awarded the prestigious MS ISO 9002 Quality System Certification from SIRIM in 1995 and upgraded to MS ISO 9001:2000 Quality System Certification in 2003.
In 2005, the Prime Minister Dato Seri Abdullah Badawi awarded Hup Seng with the Industry Product Excellence Award (Eminent Product Performance Award). Being responsible to consumers and upholding Malaysian food prestige internationally, rigorous food safety and hygienic control strategies are employed to ensure safety and hygiene of products. In mid-2007, Hup Seng was accorded with the HACCP (Hazard Analysis Critical Control Points) and BRC (British Retail Consortium) Certification. This has educated consumers on food safety and hygiene and at the same time fostered their confidence in Hup Sengs products.
With an international market coverage that spans Asia, Africa, Oceania, Europe and North America, Hup Sengs products have captured the hearts of consumers, young and old in many corners of the world. Henceforth, Hup Seng shall continue to upgrade, improve and reach new peaks of excellence.
The subsidiary, Hup Seng Perusahaan Makanan (M) Sdn Bhd., was accredited with the Certification of HACCP (Hazard Analysis Critical Control Point) and BRC (British RetailConsortium) in Year 2008.
CORPORATE SOCIAL RESPONSIBILITY
The Group recognizes the importance of a corporate culture that emphasizes good corporate social responsibility. The Group is committed to play its role as a caring corporate citizen. In line with this, the Group has taken initiative in making contributions toward the local community, for instances donations to various schools and associations. In the workplace, the Group places high importance on safety, health and employees development. For example, a committee relating to workplace safety is set up to promote awareness of safety in workplace. Various sports activities were organized for healthy and balanced working lifestyle for employees besides encouraging networking and socializing between colleagues and peer.
OUTLOOK AND PROSPECTS
Malaysia economic expansion disappeared in fourth quarter 2008 and it barely remained above water with a negligible growth of 0.1 % that led a full year growth of 4.6% as compared to 6.3% of 2007. The slower growth was due to the worsening global economy that had caused a significant drop in the countrys exports. The global economy is getting more critical and all signs indicate deeper and prolonged recession. Any improvement will hinge on the state of development in the US and other bigger economies in the world. The countrys grossdomestic product forecast for this year has been revised downwards to between -1% and 1%, from 3.5% earlier. The management expects 2009 to be another very challenging year for the Group in view of growing global economic uncertainty. In this environment, the Groups strategy remains focused on product and service quality, flawless operation and cost control. At the same time, the Group will continue to look for ways to sustain its competitive position while remaining focused on operational efficiency so that satisfactory results are achieved in the coming year.
FIVE-YEAR GROUP FINANCIAL HIGHLIGHTS
2004 2005 2006 2007 2008
Financial year ended 31 December RM'000 RM'000 RM'000 RM'000 RM'000
Turnover 186,482 180,968 188,338 193,115 220,329
Profit After Tax 6,564 5,098 6,807 4,757 16,071
Net Earnings Per Share 11 sen 8.5 sen 11.3sen 7.9sen 26.8 sen
Board of Directors
Keh (Kerk) Chu Koh
Keh (Kerk) Chu Koh, Malaysian aged 66, is the Chairman of the Company. He became a member of the Board of Directors on 4 October, 1991 and was appointed as the Managing Director on 3
August, 2000. Subsequently, he is redesignated as Chairman on 1 February, 2003. He was the Deputy Managing Director of Hup Seng Perusahaan Makanan (M) Sdn. Bhd. (HSPM) on 13 October, 1974 and then the Managing Director of the same on 1 April, 1977. He was appointed as the Deputy Managing Director on 21 April, 1977 and subsequently the Vice Chairman of Hup Seng Hoon Yong Brothers Sdn. Bhd. (HSHY) on 1 January, 1990. He is the brother of Kuo Choo Song and Kerk Chiew Siong, and uncle of Kerk Chian Tung, Teo Lee Teck and Kerk Kar Han. His family relationship with shareholders of HSB Group Sdn. Bhd. (major shareholder of Hup Seng Industries Berhad (HSIB)) is disclosed in page 12 of this Annual Report. He does not have any conflict of interest with the Company except for certain recurrent related party transactions of revenue or trading nature that is necessary for day-to-day operations of the Group. He has no convictions for any offences over the past 10 years. As one of the founders of Hup Seng Co., he has approximately 50 years of experience in the biscuits industry. He plans the Groups strategic business development and production development which includes the installation of various production facilities in the Groups factory and heads the research and development team which researches new varieties of biscuits. He contributed in obtaining the Certification of HACCP (Hazard Analysis Critical Control Point) BRC (British Retail Consortium) for HSPM in year 2008, to ensure that product safety and quality are in line with global standard. He travels abroad extensively to keep abreast with the latest developments in the biscuits manufacturing industry and to assess new market prospects for the Group.
Kerk Chiew Siong
Kerk Chiew Siong, Malaysian aged 56, became a member of the Board of Directors on 4 October, 1991 and was appointed as an Executive Director on 3 August, 2000. His position as Executive
Director was redesignated to Non-Executive Director on 1 February, 2003. On 17 August, 2006, he then became the Non-Executive Vice Chairman of the Company. He was appointed as the Director of HSPM on 12 March, 1981 and then as an Executive Director on 1 January, 1990 before being redesignated as Vice Chairman on 1 February, 2003. He was a Director of HSHY on 15 February, 1988 and then became the Deputy Managing Director of the same on 1 January, 1990 before being redesignated as Executive Director on 1 February, 2003. He is the brother of Kuo Choo Song and Keh (Kerk) Chu Koh, and uncle of Kerk Chian Tung, Teo Lee Teck and Kerk Kar Han. His family relationship with shareholders of HSB Group Sdn. Bhd. (major shareholder ofÃ‚Â (HSIB) is disclosed in page 12 of this Annual Report. He does not have any conflict of interest with the Company except for certain recurrent related party transactions of revenue or trading nature that is necessary for day-to-day operations of the Group. He has no convictions for any offences over the past 10 years. He has more than 33 years of experience in the manufacturing and marketing of biscuits. As head of the Quality Assurance and Business Development Department, he is responsible for devising strategies for market development and researching the potentials of the Groups products in existing as well as new markets. He also ensures the Groups biscuits manufacturing quality control system meets the MS ISO9001:2000 requirements.
Kuo Choo Song
Kuo Choo Song, Malaysian aged 77, is the Managing Director of the Company. He became a member of the Board of Directors on 4 October, 1991 and was appointed as the Executive Chairman of the Company on 3 August, 2000. Subsequently, he is redesignated as Managing Director in HSIB on 1 February, 2003. He had been a member of the Audit Committee until 12 December, 2007. He was appointed as the Managing Director of HSPM on 13 October, 1974 and as the Chairman of the same since 1 April, 1977. He was subsequently redesignated as Vice Chairman of HSPM on 1 February, 2003. He has been the Chairman of HSHY since 21 April, 1977. He has over 50 years of experience in the biscuits industry at management and board levels. He is one of the founders of Hup Seng Co. which was established in 1958 and subsequently became HSPM in 1974. He is the elder brother of Keh (Kerk) Chu Koh and Kerk Chiew Siong, and uncle of Kerk Chian Tung, Teo Lee Teck and Kerk Kar Han. His family relationship with shareholders of HSB Group Sdn. Bhd. (major shareholder of HSIB) is disclosed
in page 12 of this Annual Report. He does not have any conflict of interest with the Company except for certain recurrent related party transactions of revenue or trading nature that is necessary for day-to-day operations of the Group. He has no convictions for any offences over the past 10 years. His job responsibilities include planning the Hup Seng Groups business development programs and representing the Group at various external functions.
Other are: Kerk Chian TungÂ (Executive Director),Â Teo Lee TeckÂ (Non-Executive Director), Kerk Kar HanÂ (Non-Executive Director), Woon Chin ChanÂ (Independent Non-Executive Director),Â Norita Binti JaafarÂ (Independent Non-Executive Director), Mazrina Binti ArifinÂ (Independent Non-Executive Director),Â Raja Khairul Anuar Bin Raja MokhtarÂ (Non-Executive Director) and Wee Hoe Soon @ Gooi Hoe SoonÂ (Alternate Director to Woon Chin Chan).
Besides the domestic market, We also export our products to over 40 countries in Asia, Europe, America, Africa, Mid-Asia etc.
We are proud of our record in building profitable and successful business in the most demanding and competitive of international markets. Our challenge lies in gearing to meet the future demands of the markets we serve.
The price/earnings ratio is a measure of the price paid for a share relative to the annual net income or profit earned by the firm per share. In year 2004, the price/earnings ratio for Hup Seng Industries Berhad is 0.13 times and increases by 0.05 times to 0.18 times in year 2005. The price/earnings ratio decreases back to 0.13 times in year 2006. However, the price/earnings ratio has been increases by 0.03 times again to 0.16 times in 2007. In year 2008, the price/earnings ratio decreases sharply by 0.12 times to 0.04 times only. A higher price/earnings ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower price/earnings ratio.Ã‚Â Thus, we notice that the stock in year 2008 is the cheapest where the investor will pay less for each unit of net income.
PRICE/CASH FLOW RATIO
Price/cash flow ratio is a measure of the markets expectations of a firms future financial health. It is calculated by dividing the companys market price by the companys operating cash flow per share in the most recent fiscal year. In year 2004, the price/cash flow ratio for Hup Seng Industries Berhad is 18.90 times. During year 2005, the price/cash flow increases by 1.65 times to 20.55 times. The ratio for 2006 is decreases by 0.95 times to 19.6 times. In year 2007, the price/cash flow ratio is 13.21 times and decreases by 3.66 times to 9.55 times in year 2008. The lower a stocks price/cash flow ratio, the better value that stock.
PRICE/ BOOK VALUE RATIO
The price/book value ratio is provides an assessment of how investors view the firms performance. It is calculated by dividing companys market price by the companys shareholders equity per share. Firms expected to earn high returns relative to their risk typically sell at higher price/book value ratio multiples. In year 2004, the price/book value ratio for Hup Seng Industries Berhad is 1.15 times and increases to 1.21 times by 0.06 times in year 2005. It is decrease by 0.11 times to 1.1 times in year 2006. Then, the price/book value ratio is decreases again to 0.98 times in year 2007. After that, it decreases again to 0.87 times in year 2008. The higher the ratio, the higher the premium the market is willing to pay for the company above its hard assets.
The price/sales ratio is a valuation metric for stocks. It used to determine the value of a stock relative to its past performance. It may also be used to determine relative valuation of a sector or the market as a whole. It is calculated by dividing the companys market price by the companys revenue per share in the most recent fiscal year. The price/sales ratio of Hup Seng Industries Berhad for year 2004 is 8.75 times. In year 2005, it rises up to 9.79 times with increases by 1.04 times. In year 2006, it decreases by 0.41 times to 9.38 times. After that, the price/sales ratio decrease sharply by 2.54 times to 6.84 times in year 2007 and decreases again to 5.39 times in year 2008. A low price/sales ratio is usually thought to be a better investment since the investor is paying less for each unit of sales.
Forecast For Year 2009
After we estimated for the growth of 7% for year 2009, we can make the forecast market value for year 2009. In year 2009, we expect that the price/earnings ratio still maintain with 0.04 times which has the same times with year 2008. As a result, the expected market value will decrease to RM1.10. Therefore, we expect the investors still paying less for each unit of net income, so the stock will become cheaper. For the price/cash flow ratio, we expect that it will decrease by 0.63 times to 8.92 times. As a result, the expected market value will decrease to RM1.10. Thus, the lower of stocks price/cash flow ratio give the better value that stock in year 2009. For the price/book value ratio, we estimate that it will decrease by 0.05 times to 0.82 times which will decrease to RM1.10 in the market value in year 2009. So we estimate that it has the lower premium that market is willing to pay for Hup Seng above its hard assets. For the price/sales ratio, we expect that it will decrease by 0.35 times to 5.04 times. As a result, the expected market value will decrease to RM1.10. Thus, it seem that it will be a better investment opportunity in year 2009 for investors.
Other Ratios Analysis Of Hup Seng Industries Berhad
2004 2005 2006 2007 2008
Interest Burden 1.00 times 1.00 times 1.00 times 1.00 times 1.00 times
Leverage 1.01 times 1.01 times 1.01 times 1.01 times 1.01 times
Compound Leverage Factor 1.01 times 1.01 times 1.01 times 1.01 times 1.01 times
Current Ratio 36.73 times 14.03 times 13.46 times 14.55 times 16.72 times
Quick Ratio 36.73 times 14.03 times 13.46 times 14.55 times 16.72 times
Cash Ratio 36.28 times 13.99 times 13.39 times 14.47 times 16.69 times
Return On Assets 9.57% 9.25% 8.59% 11.35% 13.39%
Return On Equity 6.87% 6.08% 6.17% 8.32% 9.97%
Profit margin 77.43% 75.74% 73.89% 79.97% 81.92%
Comparison With Competitor (Hwa Tai Industries Berhad)
Hwa Tai Industries Berhad is our strong competitor, so we compare our company with them through ratio analysis which are the ratio as table below:
Hup Seng Industries Berhad Hwa Tai Industries Berhad
(Year 2008) (Year 2008)
Price/Earnings Ratio 0.04 times (1.12) times
Price/Cash Flow Ratio 9.55 times (7.84) times
Price/Book Value Ratio 0.87 times 1.28 times
Price/Sales Ratio 5.39 times 0.33 times
Since Hwa Tai Industries Berhad has net loss, so we cannot compare the price/earnings ratio of our company with it.
According to statement of cash flow in Hwa Tai Industries Berhad, we notice that cash outflow is more than cash inflow which indicate negative in net cash flow. Therefore, we fail to make comparison among these two company.
The higher the price/book value ratio, the higher the premium the market is willing to pay for the company above its hard assets. A low ratio may signal a good investment opportunity, so Hup Seng Industries Berhad has a better investment opportunity to investors because the ratio is only 0.87 times which is lower than Hwa Tai Industries Berhad that is 1.28 times of ratio.
The price/sales ratio is one of the tools that will help investors determine which category a stock is in and help them to make an informed investment decision. The lower the price/sales ratio, the better the investment opportunity. Based on the table above, it shows that Hwa Tai Industries Berhad has a better investment opportunity to investors because it has the lower price/sales ratio than Hup Seng Industries Berhad.
As a conclude, a smart investor will invest in Hup Seng Industries Berhad to earn more profit because Hup Seng Industries Berhad has high earnings per share which will give investors higher return. Besides that, Hup Seng Industries Berhad also has positive net cash flow which the cash inflow is greater than the cash outflow. As a result, the increasing of reliability of investors towards Hup Seng Industries Berhad will encourage investors to invest in this company.
Write something about yourself. No need to be fancy, just an overview.