Can see that pelikan berhad and voir holdings berhads

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can see that Pelikan Berhad and Voir Holdings Berhad’s pattern fluctuate between 2012 to 2015 while Nestle Berhad and Air Asia Berhad’s pattern were increasing from 2012 to 2015. While some may say that by holding lesser debt is a good move, it may not be true at all. By holding lesser debt, this means that Voir Holdings Berhad has to bear a much higher cost to finance its assets. This is due to interest on the debt are deducted before measuring its taxable income, while dividend on equity is not deducted before the tax. 12 | P a g e Year Company 2012 2013 2014 2015 Air Asia Bhd 65% 72% 78% 79.1% Nestle Bhd 60.9 % 66.3% 71.5% 74% Pelikan Bhd 65% 66% 63% 70% Voir Holdings Bhd 20.9 % 18.6% 19.8% 15.2%
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TIMES INTEREST EARNED (TIE) Figure 8 TIMES INTEREST EARNED Year Company 2012 2013 2014 2015 Air Asia Bhd 10.38 10.7 2 10.14 4.58 Nestle Bhd 7.21 6.16 4.96 5.47 Pelikan Bhd 0.89 1.12 -0.06 0.10 Voir Holdings Bhd 1.08 1.02 0.99 0.95 Times interest earned is used to measure a company's ability to meet its debt obligations. The formula is calculated by taking a company's earnings before interest and taxes and dividing it by the total interest payable on bonds and other contractual debt. TIE indicates how many times a company can cover its interest charges on a pretax earnings basis. From the data presented above, we can see that this ratio fluctuated between these four companies in each year. In 2012, we can see that Pelikan Berhad had the most less time, while Air Asia had the highest one. But in 2013, Voir Holdings Berhad had the least times, while Air Asia Berhad seems to maintain its position as the highest times. While in 2014, Pelikan Berhad was back to had the least times, while Air Asia Berhad was still continuing its reign by having the most times, this situation continued until 2015, even though Air Asia Berhad had a massive drop in its numbers for nearly to six times which is more than half of 2014’s ratio. For Nestle Berhad, its ratio seems to drop from 2012 to 2014 but had it improved in 2015. To tell which one has the best ratio, we may assume Air Asia had it as its numbers were way higher than other companies. But in another perspective, Voir Holdings Berhad had the most consistent times, making it the best choice for a more future proof prospect. 13 | P a g e
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PROFITABILITY OPERATING MARGIN Figure 9 OPERATING MARGIN Year Company 2012 2013 2014 2015 Air Asia Bhd 14.7 % 12.7% 7.6% 23.3% Nestle Bhd 33.1 % 32.9% 35.2% 36.6% Pelikan Bhd -1% 2% 0% 0% Voir Holdings Bhd 49.3 % 50.4% 49.2% 46.7% Operating margin is a measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc. It can be calculated by dividing a company’s operating income during a given period by its net sales during the same period. From the data presented above, we can see that Voir Holdings Berhad had the highest margin from 2012 to 2015, while Pelikan Berhad the lowest. Voir Holdings Berhad had its margin for an average near to 50% each year which sounds good enough even though its profit margin had dropped slightly in 2014 and 2015. If we look at another perspective, we can see that most of the companies had a nearly consistent pattern from 2012 to 2015, except for Air Asia Berhad wherein 2015, its margin sky-rocketed by 16%. As
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  • Fall '16
  • Financial Ratio, Voir Holdings Berhad, Voir Holdings Bhd

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