Latest news with #DPS
Newsroom
10 hours ago
- Business
- Newsroom
The secret diary of .. Luxon in China
MONDAY 'Where are your slippers?,' Amanda said. 'You'll need your slippers.' Much is at fate for the destiny and wellbeing of New Zealand as I head to China this week to deliver a set of deliverables. 'I can't find your slippers,' she said. Other great helmsmen from history must have felt the same excitement and sense of purpose as they prepared to carry the hopes of their people and sit down to make sure they get share of mind. 'Your feet get so cold in air-conditioned hotel rooms,' she said. But it's more than the welfare of Kiwis that is at stake. These talks in China are held at a delicately poised time of increased global volatility and I have an important voice as world leaders iron out a phased launch within a wider strategy. 'If you won't help, then suit yourself,' she said. The DPS arrived. It was time to go. The great tides of history wait for no man. TUESDAY It's a very long flight to China but that allowed an opportunity to get to know the trade delegates from Zespri, Fonterra, and Supercheap Auto which stocks a variety of car batteries, air filters, coolants and more. Air New Zealand CEO Greg Foran was also among the delegation. 'Not what it used to be, is it,' I said. 'Sorry?' 'The airline. It used to be one of the world's great airlines. I led it into an era of unprecedented success but the bottom seems to have fallen out since I left office.' 'None of that is true,' he said, and left to use the bathroom. I never saw him again. WEDNESDAY We raced off out of the blocks with meetings to raise awareness of the New Zealand tourism offering in the Chinese market, and a visit to a cosmetics event to discuss regulatory barriers of skincare products. You don't want to boil the ocean by alphabetising our client contact information but at the same time you want to reach out and come away with important learnings. I was on my feet all day. They hurt and I think I might have chilblains. THURSDAY To the Langham Hotel for a Fonterra event promoting grass-fed dairy where attendees were served milk in champagne flutes. And then the Peninsula Hotel, to oversee the announcement of a new flight route between China and South America, stopping in Auckland. After that, The Do Drop Inn where reps from Supercheap Auto wowed Chinese officials with budget deals on the Tridon Coolant Temperature Sensor, Fuel Injection Air Flow Meter and the Bissell Spot Clean Carpet & Upholstery Cleaner. Our tiger team really moved the needle on that one. But it was misery to go back to the hotel. They keep the aircon on high and I just could not get my feet warm. FRIDAY A face-to-face with President Xi in Beijing—my first since China sent a strike force into the Tasman Sea without warning. I said to him, 'We have huge areas of co-operation that can advance the wealth of both countries, but we also have to acknowledge that we have differences.' He seemed to be playing Solitaire on his phone, but he gave me his full attention, and asked, 'What differences?' I thought of the possible bonanza in sales of meat and kiwifruit. I thought of the benefits of the visit to the skincare event and the excitement caused by good deals on motor oil provided by Supercheap Auto. Mainly I thought of how my feet were frozen blocks of ice, and I said, 'Nothing really. It's all good. Let's lean into our moving parts and build on our core competency!' The DPS arrived. It was time to go. They had found me a pair of slippers.
Yahoo
10 hours ago
- Business
- Yahoo
A Look At The Fair Value Of P.A. Resources Berhad (KLSE:PA)
Using the Dividend Discount Model, P.A. Resources Berhad fair value estimate is RM0.18 Current share price of RM0.18 suggests P.A. Resources Berhad is potentially trading close to its fair value Industry average of 78% suggests P.A. Resources Berhad's peers are currently trading at a higher premium to fair value Today we'll do a simple run through of a valuation method used to estimate the attractiveness of P.A. Resources Berhad (KLSE:PA) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine. Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. As P.A. Resources Berhad operates in the metals and mining sector, we need to calculate the intrinsic value slightly differently. Instead of using free cash flows, which are hard to estimate and often not reported by analysts in this industry, dividends per share (DPS) payments are used. Unless a company pays out the majority of its FCF as a dividend, this method will typically underestimate the value of the stock. The 'Gordon Growth Model' is used, which simply assumes that dividend payments will continue to increase at a sustainable growth rate forever. For a number of reasons a very conservative growth rate is used that cannot exceed that of a company's Gross Domestic Product (GDP). In this case we used the 5-year average of the 10-year government bond yield (3.6%). The expected dividend per share is then discounted to today's value at a cost of equity of 9.3%. Relative to the current share price of RM0.2, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. Value Per Share = Expected Dividend Per Share / (Discount Rate - Perpetual Growth Rate) = RM0.01 / (9.3% – 3.6%) = RM0.2 Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at P.A. Resources Berhad as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.3%, which is based on a levered beta of 0.956. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Check out our latest analysis for P.A. Resources Berhad Strength Debt is well covered by earnings. Weakness Earnings declined over the past year. Dividend is low compared to the top 25% of dividend payers in the Metals and Mining market. Current share price is above our estimate of fair value. Opportunity PA's financial characteristics indicate limited near-term opportunities for shareholders. Lack of analyst coverage makes it difficult to determine PA's earnings prospects. Threat Debt is not well covered by operating cash flow. Paying a dividend but company has no free cash flows. Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For P.A. Resources Berhad, we've compiled three important aspects you should consider: Risks: We feel that you should assess the 2 warning signs for P.A. Resources Berhad we've flagged before making an investment in the company. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! Other Top Analyst Picks: Interested to see what the analysts are thinking? Take a look at our interactive list of analysts' top stock picks to find out what they feel might have an attractive future outlook! PS. Simply Wall St updates its DCF calculation for every Malaysian stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
11 hours ago
- Business
- Yahoo
A Look At The Fair Value Of P.A. Resources Berhad (KLSE:PA)
Using the Dividend Discount Model, P.A. Resources Berhad fair value estimate is RM0.18 Current share price of RM0.18 suggests P.A. Resources Berhad is potentially trading close to its fair value Industry average of 78% suggests P.A. Resources Berhad's peers are currently trading at a higher premium to fair value Today we'll do a simple run through of a valuation method used to estimate the attractiveness of P.A. Resources Berhad (KLSE:PA) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine. Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. As P.A. Resources Berhad operates in the metals and mining sector, we need to calculate the intrinsic value slightly differently. Instead of using free cash flows, which are hard to estimate and often not reported by analysts in this industry, dividends per share (DPS) payments are used. Unless a company pays out the majority of its FCF as a dividend, this method will typically underestimate the value of the stock. The 'Gordon Growth Model' is used, which simply assumes that dividend payments will continue to increase at a sustainable growth rate forever. For a number of reasons a very conservative growth rate is used that cannot exceed that of a company's Gross Domestic Product (GDP). In this case we used the 5-year average of the 10-year government bond yield (3.6%). The expected dividend per share is then discounted to today's value at a cost of equity of 9.3%. Relative to the current share price of RM0.2, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. Value Per Share = Expected Dividend Per Share / (Discount Rate - Perpetual Growth Rate) = RM0.01 / (9.3% – 3.6%) = RM0.2 Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at P.A. Resources Berhad as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.3%, which is based on a levered beta of 0.956. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Check out our latest analysis for P.A. Resources Berhad Strength Debt is well covered by earnings. Weakness Earnings declined over the past year. Dividend is low compared to the top 25% of dividend payers in the Metals and Mining market. Current share price is above our estimate of fair value. Opportunity PA's financial characteristics indicate limited near-term opportunities for shareholders. Lack of analyst coverage makes it difficult to determine PA's earnings prospects. Threat Debt is not well covered by operating cash flow. Paying a dividend but company has no free cash flows. Although the valuation of a company is important, it is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For P.A. Resources Berhad, we've compiled three important aspects you should consider: Risks: We feel that you should assess the 2 warning signs for P.A. Resources Berhad we've flagged before making an investment in the company. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! Other Top Analyst Picks: Interested to see what the analysts are thinking? Take a look at our interactive list of analysts' top stock picks to find out what they feel might have an attractive future outlook! PS. Simply Wall St updates its DCF calculation for every Malaysian stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Otago Daily Times
19 hours ago
- Business
- Otago Daily Times
The secret diary of . . . Christopher Luxon in China
MONDAY "Where are your slippers?" Amanda said. "You'll need your slippers." Much is at fate for the destiny and wellbeing of New Zealand as I head to China this week to deliver a set of deliverables. "I can't find your slippers," she said. Other great helmsmen from history must have felt the same excitement and sense of purpose as they prepared to carry the hopes of their people and sit down to make sure they get share of mind. "Your feet get so cold in air-conditioned hotel rooms," she said. But it's more than the welfare of Kiwis that is at stake. These talks in China are held at a delicately poised time of increased global volatility and I have an important voice as world leaders iron out a phased launch within a wider strategy. "If you won't help, then suit yourself," she said. The DPS arrived. It was time to go. The great tides of history wait for no man. TUESDAY It's a very long flight to China but that allowed an opportunity to get to know the trade delegates from Zespri, Fonterra, and Supercheap Auto which stocks a variety of car batteries, air filters, coolants and more. Air New Zealand CEO Greg Foran was also among the delegation. "Not what it used to be, is it," I said. "Sorry?" "The airline. It used to be one of the world's great airlines. I led it into an era of unprecedented success but the bottom seems to have fallen out since I left office." "None of that is true," he said, and left to use the bathroom. I never saw him again. WEDNESDAY We raced off out of the blocks with meetings to raise awareness of the New Zealand tourism offering in the Chinese market, and a visit to a cosmetics factory even to discuss regulatory barriers of skincare products. You don't want to boil the ocean by alphabetising our client contact information but at the same time you want to reach out and come away with important learnings. I was on my feet all day. They hurt and I think I might have chilblains. THURSDAY To the Langham Hotel for a Fonterra event promoting grass-fed dairy where attendees were served milk in Champagne flutes. And then the Peninsula Hotel, to oversee the announcement of a new flight route between China and South America, stopping in Auckland. After that, The Do Drop Inn where reps from Supercheap Auto wowed Chinese officials with budget deals on the Tridon Coolant Temperature Sensor, Fuel Injection Air Flow Meter and the Bissell Spot Clean Carpet & Upholstery Cleaner. Our tiger team really moved the needle on that one. But it was misery to go back to the hotel. They keep the air-con on high and I just could not get my feet warm. FRIDAY A face-to-face with President Xi in Beijing — my first since China sent a strike force into the Tasman Sea without warning. I said to him, 'We have huge areas of co-operation that can advance the wealth of both countries, but we also have to acknowledge that we have differences." He seemed to be playing Solitaire on his phone, but he gave me his full attention, and asked, "What differences?" I thought of the possible bonanza in sales of meat and kiwifruit. I thought of the benefits of the visit to the skincare event and the excitement caused by good deals on motor oil provided by Supercheap Auto. Mainly I thought of how my feet were frozen blocks of ice, and I said, "Nothing really. It's all good. Let's lean into our moving parts and build on our core competency!" The DPS arrived. It was time to go. They had found me a pair of slippers. By Steve Braunias
Time Business News
a day ago
- Business
- Time Business News
Ultimate Guide to Dorset Letting: What Tenants and Landlords Should Know
The county of Dorset, with its stunning Jurassic Coast, historic market towns, and peaceful rural villages, continues to be one of the most desirable places to live in the UK. From bustling seaside resorts like Bournemouth and Weymouth to charming towns like Bridport, Sherborne, and Dorchester, demand for rental properties across Dorset is consistently high. Whether you're a tenant looking to secure your ideal home or a landlord aiming to maximise rental income, understanding how Dorset letting works is essential. This ultimate guide to Dorset letting will walk you through the key considerations, legal requirements, and practical tips every tenant and landlord should know in 2025. Before diving into details, it helps to understand what makes the Dorset rental market unique: Coastal lifestyle : The Jurassic Coast is a magnet for retirees, families, and professionals seeking a slower pace of life. : The Jurassic Coast is a magnet for retirees, families, and professionals seeking a slower pace of life. Student population : Areas like Bournemouth and Poole host universities, increasing demand for student lettings. : Areas like and host universities, increasing demand for student lettings. Tourism and seasonal work : Holiday hotspots like Lyme Regis and Swanage attract seasonal workers and short-term renters. : Holiday hotspots like and attract seasonal workers and short-term renters. Growing remote workforce: More people are relocating to Dorset from urban areas thanks to remote working. These factors make Dorset letting a dynamic and competitive market—one that requires both tenants and landlords to stay informed and proactive. If you're planning to rent in Dorset, here's what you need to understand to protect your rights and find the right property. Most rentals in Dorset fall under Assured Shorthold Tenancies (ASTs), which typically last 6 or 12 months. After the fixed term, they may roll over into periodic agreements (month-to-month). Some coastal and student properties may be offered as short-term lets, especially in summer. Property Type Monthly Rent Range Studio flat £700 – £950 1-bed flat £850 – £1,200 2-bed house £1,100 – £1,600 3-bed house £1,400 – £2,000+ Room in shared house £450 – £650 Prices vary by location. Coastal towns like Weymouth and Christchurch tend to be more expensive than inland areas like Blandford Forum or Shaftesbury. Under the Tenant Fees Act 2019, landlords and agents cannot charge for referencing, check-ins, or administration. You're typically required to pay: Holding deposit (max one week's rent) (max one week's rent) Security deposit (capped at five weeks' rent if rent is under £50,000/year) (capped at five weeks' rent if rent is under £50,000/year) First month's rent in advance All deposits must be protected in a government-approved Tenancy Deposit Scheme (DPS, MyDeposits, or TDS) and returned within 10 days after the tenancy ends, subject to any deductions. Clarify what's included in your rental: Are utilities (water, gas, electricity, Wi-Fi) covered? (water, gas, electricity, Wi-Fi) covered? Is the flat furnished or unfurnished ? ? Does the rent include council tax? Check your tenancy agreement carefully before signing and request an inventory report on move-in day. You have legal rights that all landlords must respect: The property must be safe and habitable. Landlords must give 24 hours' notice before entering. Repairs and maintenance should be addressed promptly. Eviction notices must follow the correct legal process. If you feel your rights are being violated, contact Citizens Advice Dorset or Dorset Council's Housing Team. Whether you're a seasoned landlord or new to property letting, understanding your legal responsibilities and local market conditions is vital. Absolutely. With strong tenant demand and a stable rental market, Dorset offers excellent potential for rental income and long-term capital growth. Popular investment areas include: Bournemouth & Poole – Strong student and professional demand – Strong student and professional demand Weymouth & Portland – Coastal appeal and growing regeneration – Coastal appeal and growing regeneration Dorchester – Historic charm with commuter access – Historic charm with commuter access Bridport – Artsy, independent scene popular with young renters As a landlord in Dorset, you must comply with UK rental laws, including: You must verify that tenants are legally allowed to live in the UK before they move in. All security deposits must be placed in an approved tenancy deposit scheme. Annual Gas Safety Certificate (CP12) is mandatory. (CP12) is mandatory. EICR (Electrical Installation Condition Report) must be updated every five years. From 2025, rental properties must have an EPC rating of at least C (unless exempt). Failing to comply may result in fines or letting restrictions. Install and maintain working smoke alarms on each floor and carbon monoxide detectors in rooms with solid fuel. Dorset landlords can choose to: Self-manage their properties, handling advertising, tenant vetting, rent collection, and maintenance their properties, handling advertising, tenant vetting, rent collection, and maintenance Work with a Dorset letting agent who offers fully managed or tenant-find services While self-management saves fees, professional agents bring local market knowledge, legal compliance, and time-saving convenience. When choosing a letting agent in Dorset, look for professionals who are: Members of regulatory bodies like ARLA Propertymark or The Property Ombudsman or Transparent about fees (landlord and tenant) Knowledgeable about the local rental landscape Responsive and communicative Some of the top-rated Dorset letting agents operate in Bournemouth, Dorchester, Wimborne, and Weymouth, and cater to both short- and long-term lets. Unprotected deposits – Always confirm where your deposit is held. – Always confirm where your deposit is held. Unlawful eviction – Landlords must serve the correct notice (usually Section 21 or Section 8). – Landlords must serve the correct notice (usually Section 21 or Section 8). Poor maintenance – Report repairs in writing and keep records. Late rent payments – Conduct thorough tenant referencing and use rent guarantee insurance if needed. – Conduct thorough tenant referencing and use rent guarantee insurance if needed. Legal non-compliance – Keep certificates and inspections up to date. – Keep certificates and inspections up to date. Void periods – Avoid by pricing fairly and marketing effectively, especially in off-peak months. Given Dorset's strong tourism appeal, some landlords opt for short-term or holiday letting through platforms like Airbnb. This strategy can be lucrative in towns like Lyme Regis, Swanage, and Bournemouth during summer months. However, short-term letting comes with its own rules: You may need planning permission if renting for over 90 days/year in some areas if renting for over 90 days/year in some areas Ensure the property meets fire safety standards You may lose tax reliefs available to long-term rental businesses Check with Dorset Council and consider hybrid strategies (seasonal short-term lets, long-term winter tenancies) for best results. The Dorset letting market offers incredible opportunities for both tenants and landlords—but with those opportunities comes the need for knowledge, preparation, and compliance. Tenants should be vigilant about deposit protection, tenancy rights, and contracts. Landlords should focus on meeting their legal obligations, maintaining good tenant relationships, and working with trusted local agents. With the right approach, renting or letting in Dorset can be a rewarding and financially sound decision—whether you're enjoying a sea-view flat in Southbourne or managing a countryside cottage in Beaminster. TIME BUSINESS NEWS
