Project #89722 - Corporate Finance

 

 

1.   Your question is as follows:

 

 

a)  You work in the treasury department of Axiata, a large regional telecoms company, which operates in 9 different countries in South and South-east Asia, (including Malaysia, Sri Lanka, India, and Bangladesh), and which is listed on the Kuala Lumpur stock exchange.

 

The company’s CFO has been asked to lead a discussion with major shareholders about the company’s future dividend policy. As a result, he has asked you to prepare an internal management report on the topic.

 

He requests that your report should:

 

·        Explain why the dividend decision is important;

·        Review the company’s dividend policy and performance over the last five years,

·        Outline the major dividend policy “theories”, and

·        Recommend a future dividend policy for Axiata.

 

b)  The company’s CFO is also concerned with the company’s exposure to foreign exchange risk.

 

He has asked you to write a short Board paper that:

 

·        Identifies the three types of foreign exchange risk and critically discusses their relative importance.

·        Critically evaluates the four main “internal” hedging strategies and assesses their relevance to a large telecoms company.

·        Analyses the application of the two basic “external” hedging techniques: forward and money market hedges.

 

You might wish to consult the following web link:

 

http://www.axiata.com/investor-relations/2013/ar/

 

 

 

 

 

 

2.   Presentation

 

·         A management report and Board papers should be clearly and logically structured in whatever format appears to be most suitable for supporting the analysis, arguments, conclusions and recommendations.

 

·         Tables, graphs and charts can be a convenient way of organising your findings and helping you to analyse data and to explain concepts and ideas.  They also may make it easier for the CFO (and the marker!) to understand your findings.

 

 

 

3.  Assessment Requirements:

 

 

·         Maximum word length allowed for the whole assignment is 4000 words, excluding words in Charts &Tables and in any Appendix section of your report.

 

·         Student is required to submit a type-written document in Microsoft Word format with Times New Roman font type, size 12 and line spacing 1.5.

 

·         This assignment is worth 100% of the final assessment of the module.

 

·         Indicate any sources of information and literature review by including all the necessary citations and references adopting the Harvard Referencing System.

 

  • Students who have been found to have committed acts of Plagiarism are automatically considered to have failed the entire module. If found to have breached the regulation for the second time, you will be asked to leave the course.

 

  • Plagiarism involves taking someone else’s words and using them as your own. This entire assignment must be written in your own words. Short quotations – up to twenty words long – are allowed as long as they are properly acknowledged and referenced.

 

 

 

 

4.  Marking Scheme:

 

 

Criteria / Section

Word

Target

Marks (%)

Importance of the dividend decision.

400

10

Review of Axiata’s dividend policy.

400

10

Discussion of dividend theories and recommendation as to the company’s future policy.

1200

30

Types and importance of foreign exchange risk.

600

15

Four main internal hedging techniques.

800

20

Two main external hedging techniques.

600

15

Total

4000

100%

 

6.  Notes on Plagiarism

 

Plagiarism is passing off the work of others, as your own. This constitutes academic theft and is a serious matter which is penalized in assignment marking.

 

Plagiarism is the submission of an item of assessment containing elements of work produced by another person(s) in such a way that it could be assumed to be the student’s own work. Examples of plagiarism are:

 

  •  

The verbatim copying of another person’s work without acknowledgement

  •  

The close paraphrasing of another person’s work by simply changing a few  words or altering the order of presentation without acknowledgement

  •  

The unacknowledged quotation of phrases from another person’s work and/or the presentation of another person’s idea(s) as one’s own.

 

Copying or close paraphrasing with occasional acknowledgement of the source may also be deemed to be plagiarism is the absence of quotation marks implies that the phraseology is the student’s own.

 

Plagiarised work may belong to another student or be from a published source such as a book, report, journal or material available on the internet.

 

 

 

 

7. Harvard Referencing

The structure of a citation under the Harvard referencing system is the author’s surname, year of publication, and page number or range, in parentheses, as follows:

 

  •  

The page number or page range is omitted if the entire work is cited. The author’s surname is omitted if it appears in the text. Thus we may say: “Jones (2001) revolutionized the field of trauma surgery.”

 

 

  •  

Two or three authors are cited using “and” or “&”: (Deane, Smith, and Jones, 1991) or (Deane, Smith & Jones, 1991). More than three authors are cited using et al. (Deane et al. 1992).

 

 

 

 

  •  

An unknown date is cited as no date (Deane n.d.). A reference to a reprint is cited with the original publication date in square brackets (Marx [1867] 1967, p. 90).

 

 

  •  

If an author published two books in 2005, the year of the first (in the alphabetic order of the references) is cited and referenced as 2005a, the second as 2005b.

 

 

  •  

A citation is placed wherever appropriate in or after the sentence. If it is at the end of a sentence, it is placed before the period, but a citation for an entire block quote immediately follows the period at the end of the block since the citation is not an actual part of the quotation itself.

 

 

  •  

Complete citations are provided in alphabetical order in a section following the text, usually designated as “Works cited” or “References”. The difference between a “works cited” or “references” list and a bibliography is that a bibliography may include works not directly cited in the text.

 

 

  •  

All citations are in the same font as the main text.

 

Examples of book references are:

 

  •  

Smith, J. (2005a). Dutch Citing Practices. The Hague: Holland Research Foundation.

 

  •  

Smith, J. (2005b). Harvard Referencing. London: Jolly Good Publishing.

 

 

In giving the city of publication, an internationally well-known city (such as London, The Hague, or New York) is referenced as the city alone. If the city is not internationally well known, the country (or state and country if in the U.S.) are given.

 

Examples of journal references are:

 

  •  

Smith, John Maynard. “The origin of altruism,” Nature 393, 1998, pp. 639-40.

 

 

  •  

Bowcott, Owen. “Street Protest”, The Guardian,October 18, 2005, accessed February 7, 2006.

       

 

 

 

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Due By (Pacific Time) 10/28/2015 09:00 pm
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