Bà i mẫu - FINANCIAL STATEMENT ANALYSIS PHA LAI...

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FINANCIAL STATEMENT ANALYSIS PHA LAI THERMAL POWER COMPANY Tutor: Chu Huy Anh Students’ names: Nguyen Thi Ha 0704010015 Do Thi Huong 0704010029 Dinh Thi Thoi 0704010058 Vu Thi Vui 0704010074 Class: ACCT T1 1
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Table of contents 1. Company background . ................................................................................... 1 2. Industry analysis. ............................................................................................ 1 3. Company strategy analysis. ............................................................................. 3 4. Accounting analysis. ....................................................................................... 4 5. Financial analysis. ............................................................................................ 6 6. Valuation. ......................................................................................................... 9 6.1 Forecasting. ................................................................................................ 9 6.2 Cash flow valuation. ................................................................................ 11 7. Conclusion on investment decision. .............................................................. 14 2
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1. Companybackground: Pha Lai Thermal Power Joint Stock Company was first incorporated in 1982 as a state-owned company. It is engaged in the operation, maintenance and management of the thermal power plant in Hai Duong Province for electricity generation and distribution and constructing power plants and transmission lines. In addition, it is involved in the trading of equipment and machinery used in the electricity sector, as well as the provision of repair and maintenance services. Other activities include the manufacture and trading of gypsum, clinker and concrete additives. It has a total of six operating units with total installed capacity of 1040 Mega Watts, making it the third largest thermal power plant in Viet Nam. Up to now, the company has supplied over 30 million KWh for the country, which accounts for approximately 9% of the national electricity output and over 70% of the total number of all coal-fired power plants in Viet Nam. With these achievements, in 2006, the company was converted to a public company, with the name of Pha Lai Thermal Power Joint Stock Company and its shares were listed in HOSE( Ho Chi Minh Stock Exchange) Major stakeholders of PPC are Electricity of Vietnam (EVN) ( 67% of the comapny), Deutsche Bank AG ( 5%), Petro Vietnam Finance (2.3%), Bao Viet Life Insurance (0.62%), Vietnam International Bank ( 0.63%), and Ngan Ha Investment and construction ( 0.61%). 2..Industry analysis: Porter’s Five Forces : Buyer power: All people and firms must use the electricty for production and living activities, so it can be said that electricity is a normal good which is very essential for the life. Moreover, electricity producers provide same quality, identical products and same prices for consumers and there are not many companies providing electricity. Therefore, for
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Bà i mẫu - FINANCIAL STATEMENT ANALYSIS PHA LAI...

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