国外 financial report.docx

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