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| COVER STORY |
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PROVING
IT
The main interface
between a company and its shareholders is its annual report.
And the evidence shows that a good annual report - one
in which information is not just well-presented, but that
reveals how a company does business - attracts more shareholders
and that its share price rises as a result. Why?
read the entire
story |
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| FEATURE |
WHERE
TO SPEND IT
The weakness
in the global economy has led many businesses to put revenue
initiatives and strategic moves on hold. But they may be missing
a great opportunity, as asset prices have fallen dramatically.
One thing is for sure - those with decent enough cashflows are
in a better position to capture future growth, either through
acquisitions or by gobbling the market share of weaker competitors. |
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| SPOTLIGHT: WORKING CAPITAL SURVEY
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DONT
BE SO NEGATIVE
Flexibility
has become the watchword of the day for Asian companies that
are trying to balance business during a downturn with managing
their working capital. Keeping your cash working efficiently
is the name of the game for any business, in any economic climate.
We rank 830 public companies across Asia on their cash conversion
efficiency and days working capital. |
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| POINT OF VIEW |
SUNK
BY JUNK
Should an offer that
is too good to be refused be refused anyway? In the case of
ship owner Golden Ocean, the answer is yes. Fred Cheng, former
CEO of Golden Ocean, followed his bankers into a bumpy high-yield
bond issue that eventually led to the company's collapse and
bankruptcy. |
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| DEALWATCH |
DRAM
THE TORPEDOES
US memory chip
manufacturer Micron is expected to gobble up the core dram assets
of its heavily indebted competitor, Korea-based Hynix. But the
two sides haven't been able to reach agreement on price, with
Micron offering about half what Hynix wants. We explore how
two sides can differ by billions in their valuations. |
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| MONEYWATCH |
THE DEBT
MONSTER
The short history
of Pacific Century CyberWorks is more a read on financing and
related deal-making than serving markets. But the cost of its
deals has become a less-than-academic matter - its cost-cutting
has resulted in the loss of 846 jobs and it raised tariffs 20
percent for its phone service, as the amount paid to its bankers
soared in 2001 to nearly the equivalent of what it pays its
staff. |
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| TECHWATCH: SECURITY |
THE OUTSIDERS
In 2001, the number of computer security
breaches perpetrated on companies by outsiders overtook those
committed by people on the payroll. The incidence of cybercrime
also grew exponentially, making computer security a priority
for companies around the globe. |
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