You are on page 1of 11

$QV'ROODU

$QV 5HVHUYH%DQNRI,QGLD
$QV 3HRSOHGHSRVLWWKHLUPRQH\LQWKHEDQNDVLWHDUQVLQWHUHVW6LQFHWKH
GHSRVLWVLQWKHEDQNDFFRXQWVFDQEH
ZLWKGUDZQRQGHPDQGWKHVH
GHSRVLWVDUHFDOOHGGHPDQGGHSRVLWV
$QV ‡ %DQNVNHHSVRQO\VPDOOSURSRUWLRQV SHUFHQW RIWKHLUGHSRVLWV
DVFDVKZLWKWKHPVHOYHV
 ‡ 0DMRUSRUWLRQRIPRQH\GHSRVLWVDUHXVHGWRH[WHQGORDQV
$QV &ROODWHUDOLVDQDVVHWWKDWWKHERUURZHURZQV VXFKDVODQGEXLOGLQJ
YHKLFOHOLYHVWRFN DQGXVHVWKLVDVDJXDUDQWHHWRDOHQGHUXQWLOWKH
ORDQLVUHSDLG
$QV %DQNFKDUJHKLJKHULQWHUHVWUDWHRQORDQVWKDWZKDWWKH\RIIHURQ
GHSRVLWV7KHGLIIHUHQFHRILQWHUHVWLVWKHPDLQVRXUFHRILQFRPHRI
EDQN
$QV,QWHUHVWUDWHLVKLJKHU

/RQJ$QVZHU7\SH4XHVWLRQV RU0$5.6($&+
4 $QDO\VHWKHZRUNRI5HVHUYH%DQNRI,QGLD"
4 +RZGRIRUPDODQGLQIRUPDOVRXUFHVRIFUHGLWGLIIHUIURPHDFKRWKHU"
4 :KDWLVFUHGLW"+RZFDQFUHGLWEHERWKDQDVVHWDVZHOODVDGHEWWUDS"
4 :KDWDUHWKHWHUPVRIFUHGLW"+RZLWPD\YDU\IRUSHUVRQWRSHUVRQ"
4 +RZLVWKHFRQFHSWRI6HOI+HOS*URXSLPSRUWDQWIRUSRRUSHRSOH"*LYH
\RXUYLHZSRLQWV
4 7KH FUHGLW DFWLYLWLHV RI WKH LQIRUPDO VHFWRU VKRXOG EH GLVFRXUDJHG
6XSSRUW\RXUVWDWHPHQWZLWKUHOHYDQWDUJXPHQWV
4 :K\WKHIRUPDORULQIRUPDOVHFWRUGRHVDVNVIRUFROODWHUDO"
4 +RZGRIDUPHUVJHWVLQWRGHEWVWUDS"
4 5HYLHZDQ\WKUHHPHULWVDQGDQ\WZRGHPHULWVRI
IRUPDOVHFWRURI
FUHGLWV
LQ,QGLD
4 :KDWDUHWKHUHDVRQVZK\WKHEDQNVPLJKWQRWEHZLOOLQJWROHQGWR
FHUWDLQERUURZHUV"

 &ODVV;6RFLDO6FLHQFH
$QVZHUV
$QV ‡ ,VVXHWKHFXUUHQF\RQEHKDOIRI*RYHUQPHQWRI,QGLD
 ‡ ,VVXHVJXLGHOLQHVUHJDUGLQJZRUNLQJFXOWXUHRI%DQNDQG6+*
 ‡ *LYHGLUHFWLRQVUHJDUGLQJWHUPVDQGLQWHUHVWRQFUHGLWV
 ‡ 7RSURYLGHIHHGEDFNUHJDUGLQJPRQHWDU\SROLFLHVWRJRYHUQPHQW
RI,QGLD
 ‡ 5%,KROGVDSDUWRIWKHFDVKUHVHUYHRIWKHEDQN
$QV )RUPDOVHFWRU ,QIRUPDOVHFWRU
5DWHRI,QWHUHVWLVORZHU +LJKHUUDWHRI,QWHUHVW
&ROODWHUDO LV PXVW IRU JHWWLQJ 5HDG\ WR JLYH ORDQV ZLWKRXW DQ\
ORDQ FROODWHUDOWRR
5%,VXSHUYLVHVWKHP 1R RUJDQL]DWLRQ WR VXSHUYLVH
WKHP
0RUHGRFXPHQWDWLRQLVUHTXLUHG / H V V  G R F X P H Q W D W L R Q   O H V V 
,WLQYROYHVPDQ\IRUPDOLWLHV IRUPDOLWLHV
([%DQNVDQGFRRSHUDWLYHV ([DPSOHV0RQH\OHQGHUWUDGHUV
IULHQGVUHWDLOHUVDQGVRRQ

$QV&UHGLWV UHIHUV WR DQ DJUHHPHQW LQ ZKLFK WKH OHQGHU VXSSOLHV WKH
ERUURZHUZLWKPRQH\JRRGVRUVHUYLFHVLQUHWXUQIRUWKHSURPLVHRI
IXWXUHSD\PHQW
 ‡ &UHGLW DV DQ DVVHW 'XULQJ WKH IHVWLYDO VHDVRQ D VKRH
PDQXIDFWXUHU 6DOLP KDV UHFHLYHG DQ RUGHU RI PDNLQJ VKRHV LQ
EXONZLWKLQDPRQWK
VWLPH7RFRPSOHWHSURGXFWLRQKHKLUHGH[WUD
ZRUNHUV DQG KDV WR SXUFKDVH WKH UDZ PDWHULDOV +H DVNV WKH
VXSSOLHUWRVXSSO\OHDWKHUQRZDQGSURPLVHWRSD\KLPODWHU7KHQ
KHWRRNVRPHDGYDQFHSD\PHQWIURPWKHWUDGHU%\WKHHQGRIWKH
PRQWKKHLVDEOHWRGHOLYHUWKHRUGHUPDNHDJRRGSURILWDQGUHSD\
WKHPRQH\KHKDGERUURZHG
 ‡ &UHGLW DV GHEW WUDS $ IDUPHU 6ZDSQD SLFNV XS ORDQ IURP D
PRQH\OHQGHU WR PHHW WKH H[SHQVHV RI FXOWLYDWLRQ %XW
XQIRUWXQDWHO\WKHFURSLVKLWE\WKHSHVWVDQGIDLOV6RVKHLVXQDEOH
WRUHSD\WKHORDQDQGGHEWJURZVODUJHUZLWKLQWHUHVW
 ,Q6DOLP¶VFDVHFUHGLWSOD\VDYLWDODQGSRVLWLYHUROHZKHUHDVLQ

&ODVV;6RFLDO6FLHQFH 
 6ZDSQD¶VFDVHFUHGLWSXVKHVWKHERUURZHUVLQWRDVLWXDWLRQIURPZKLFK
UHFRYHU\LVSDLQIXO
$QV
 ‡ (YHU\ ORDQ DJUHHPHQW VSHFLILHV DQ LQWHUHVW UDWH ZKLFK WKH
ERUURZHU PXVW SD\ WR WKH OHQGHU DORQJ ZLWK UHSD\PHQW RI WKH
SULQFLSDO
 ‡ ,QDGGLWLRQOHQGHUPD\GHPDQGFROODWHUDOLHDVDVVHUWWKDWWKH
ERUURZHU RZQV DQG XVHV WKLV DV D JXDUDQWHH XQWLO WKH ORDQ LV
UHSDLG
 ‡ ,IWKHERUURZHUIDLOVWRUHSD\WKHORDQWKHOHQGHUKDVWKHULJKWWRVHOO
WKHFROODWHUDOWRREWDLQSD\PHQW
 ‡ 7HUPV RI FUHGLW FRPSULVH LQWHUHVW UDWH FROODWHUDO DQG
GRFXPHQWDWLRQUHTXLUHPHQWDQGWKHPRGHRIUHSD\PHQW
$QV
 ‡ 6+*
V EDVLF LGHD LV WR SURYLGH ILQDQFLDO UHVRXUFH IRU WKH SRRU
WKURXJK RUJDQL]LQJ WKH UXUDO SRRU HVSHFLDOO\ ZRPHQ LQWR VPDOO
+HOS*URXSV
 ‡ ,WRUJDQL]HVWKHUXUDOSRRUHVSHFLDOO\ZRPHQLQWRVPDOO6HOI+HOS
*URXSV
 ‡ ,WFROOHFWVVDYLQJRIWKHPHPEHUV
 ‡ LWSURYLGHVORDQVZLWKRXWFROODWHUDO
 ‡ ,WSURYLGHVWLPHO\ORDQVDWUHDVRQDEOHUDWHRILQWHUHVW
 ‡ ,WDOVRSURYLGHVDSODWIRUPWRGLVFXVVYDULRXVVRFLDOLVVXH
$QV
 ‡ ,QIRUPDOOHQGHUVFKDUJHYHU\KLJKLQWHUHVWRQWKHLUORDQV
 ‡ 7KHUHDUHQRERXQGDULHVDQGUHVWULFWLRQV
 ‡ ,QFHUWDLQFDVHVWKHKLJKLQWHUHVWUDWHIRUERUURZLQJFDQPHDQWKDW
WKH DPRXQW WR EH UHSDLG LV JUHDWHU WKDQ WKH LQFRPH RI WKH
ERUURZHUV
 ‡ 7KLV FRXOG OHDG WR LQFUHDVLQJ GHEW WUDS WKHUHIRUH WKH FUHGLW
DFWLYLWLHVRIWKHLQIRUPDOVHFWRUVKRXOGEHGLVFRXUDJHG

 &ODVV;6RFLDO6FLHQFH
$QV /HQGHUV PD\ GHPDQG FROODWHUDO RU DQ DVVHW WKDW WKH ERUURZHU
 RZQVWRXVHLWDVDJXDUDQWHHXQWLOKHUHSD\VWKHORDQ,WPD\EH
 VROGLIWKHERUURZHULVQRWDEOHUHSDLG
$QV
 ‡ )DLOXUHRIWKHFURSPDNHVORDQUHSD\PHQWLPSRVVLEOH
 ‡ 'RZQIDOORIFURSSULFHVDOVRPDNHVORDQUHSD\PHQWLPSRVVLEOH
 ‡ +LJKHU LQWHUHVW PDNHV OLIH GLIILFXOW &UHGLW LQ VXFK D FRQGLWLRQ
SXVKHV WKH ERUURZHUV LQWR D VLWXDWLRQ IURP ZKLFK UHFRYHU\ LV
SDLQIXODQGWKH\JHWLQWRWKHGHEWWUDS
$QV 0HULWV
 ‡ +HOSVWRPHHWWKHZRUNLQJFDSLWDOQHHGVRISURGXFWLRQ
 ‡ +HOSVLQFRPSOHWLQJSURGXFWLRQRQWLPH
 ‡ /RZLQWHUHVWUDWH
 ‡ +HOSVLQLQFUHDVLQJHDUQLQJV
 'HPHULWV
 ‡ 'LIILFXOW\LQREWDLQLQJORDQV
 ‡ &ROODWHUDOLVVXHV
 ‡ 'RFXPHQWDWLRQFRXOGEHDSUREOHPDWLFLVVXHIRUIHZ
$QV
 ‡ %DQNVUHTXLUHSURSHUDQGOHJDOGRFXPHQWDWLRQVDQGFROODWHUDODV
VHFXULW\ DJDLQVW ORDQV 7KH ERUURZHUV ZKR KDYH QRW UHSDLG
SUHYLRXVORDQVWKHEDQNVPLJKWQRWEHZLOOLQJWROHQGWKHPIXUWKHU
 ‡ 7KRVHHQWUHSUHQHXUVZKRDUHJRLQJWRLQYHVWLQDEXVLQHVVZLWK
KLJKULVNVWKHPLJKWQRWEHZLOOLQJWROHQGPRQH\
3UDFWLFH4XHVWLRQV
4:K\LVLWQHFHVVDU\WRLQFUHDVHDODUJHQXPEHURIEDQNVPDLQO\LQUXUDO
DUHDV"([SODLQ
4([SODLQDQ\WKUHHUHDVRQVIRUWKHEDQNVDQGFRRSHUDWLYHVRFLHWLHVWR
LQFUHDVHWKHLUOHQGLQJIDFLOLWLHVLQUXUDODUHDV
4 'HVFULEH WKH LPSRUWDQFH RI IRUPDO VRXUFHV RI FUHGLW LQ WKH HFRQRPLF
GHYHORSPHQW"
4'HVFULEHWKHEDGHIIHFWVRILQIRUPDOVRXUFHVRIFUHGLWRQERUURZHUV
4:K\LVLWWKDWPRVWRISHRSOHLQ,QGLDQVWLOOGHSHQGHQWRQLQIRUPDOVHFWRURI
FUHGLWIRUORDQ"

&ODVV;6RFLDO6FLHQFH 
‡ )RUHLJQ,QYHVWPHQWLVZKHQDFRPSDQ\RULQGLYLGXDOIURPRQHQDWLRQ
LQYHVWVLQDVVHWVRURZQHUVKLSVWDNHVRIDFRPSDQ\EDVHGLQDQRWKHU
QDWLRQ
‡ 6(=LVDVSHFLDOHFRQRPLF]RQHRIDFRXQWU\WKDWLVVXEMHFWWRXQLTXH
HFRQRPLF UHJXODWLRQV WKDW GLIIHUV IURP RWKHU DUHDV LQ WKH VDPH
FRXQWU\ 7KHVH UHJXODWLRQV WHQG WR EH FRQGXFWLYH WR IRUHLJQ GLUHFW
LQYHVWPHQW

9HU\6KRUW$QVZHU7\SH4XHVWLRQV PDUNHDFK
4 :KDWLV*OREDOL]DWLRQ"
4 *LYHRQHH[DPSOHRI7UDGH%DUULHUV"
4 :KHQGLG,QGLDDGRSWWKHQHZHFRQRPLFSROLF\"
4 3URYLGHRQHH[DPSOHRI,QGLDQ01&
V"
4 :K\GRHV01&
V,QYHVWLQGLIIHUHQWFRXQWULHV"
4 :KLFK VHFWRU RI HFRQRP\ LV VWLOO ODJJHG EHKLQG HYHQ DIWHU WKH
*OREDOL]DWLRQ"
4 :KHQGLG)RUG0RWRUVHVWDEOLVKHGLQ,QGLD"
4 :KDWLVSULYDWL]DWLRQ"
4 $FRPSDQ\ZKLFKKDVRZQHUVKLSRUFRQWUROLQPRUHWKDQRQHFRXQWU\LV
NQRZDV"
4 ,QZKLFKFDWHJRU\\RXZLOOSXW,QGLDQ(FRQRP\"

$16:(56
$QV *OREDOL]DWLRQ LV WKH LQWHJUDWLRQ RU LQWHUFRQQHFWLRQ EHWZHHQ WKH
FRXQWULHV WKURXJK WUDGH DQG IRUHLJQ LQYHVWPHQW E\ PXOWLQDWLRQDO
FRUSRUDWLRQV
$QV 7D[RQ([SRUW
$QV 
$QV 7DWD0RWRUV
$QV 7RHDUQPRUHSURILWV

&ODVV;6RFLDO6FLHQFH 
$QV $JULFXOWXUH6HFWRU
$QV 
$QV 3ULYDWL]DWLRQPHDQVDOORZLQJWKHSULYDWHVHFWRUWRVHWXSLQGXVWULHV
ZKLFKZHUHHDUOLHUUHVHUYHGIRUWKH3XEOLFVHFWRU
$QV 01&
V
$QV0L[HG(FRQRP\

0DUN4XHVWLRQV
45HPRYLQJEDUULHUVRUUHVWULFWLRQVVHWE\JRYWLVFDOOHGBBBBBBBBBB
4 1DPH WKH ,QGLDQ PDQXIDFWXUHU ZLWK ZKLFK )RUG 0RWRUV HQWHUHG WKH
,QGLDQDXWRPRELOHEXVLQHVV"
4:KLFK,QGLDQFRPSDQ\KDVEHHQERXJKWE\&DUJLOOIRRGVDQG01&"
4*OREDOLVDWLRQKDVSRVHGPDMRUFKDOOHQJHVIRU
D  ELJSURGXFHUV E  VPDOOSURGXFHUV
F  UXUDOSRRU G  QRQHRIWKHVH
4:KLFKRIWKHIROORZLQJLVDQH[DPSOHRIDWUDGHEDUULHU"
D  IRUHLJQLQYHVWPHQW E  GHOD\RUGDPDJHRIJRRGV
F  WD[RQLPSRUWV G  QRQHRIWKHVH
46WDWHWKHPDLQPRWLYHRI01&"
$QVZHUV
  /LEHUDOLVDWLRQ
  0DKLQGUDDQG0DKLQGUD
  3DUDNK)RRGV
  6PDOOSURGXFHUV
  7D[RQ,PSRUWV
  7RHDUQJUHDWHUSURILW

 &ODVV;6RFLDO6FLHQFH
/21*$16:(57<3(48(67,216 250$5.6($&+
4 :KDW GR \RX PHDQ E\ JOREDOL]DWLRQ" :KDW DUH WKH HIIHFWV RI
JOREDOL]DWLRQLQ,QGLD"
4 :KDWLV:72":KDWDUHWKHDLPRI:72":KDWDUHWKHGUDZEDFNRI
:72"
4 :KDW LV 01&
V" +RZ 01&
V FDQ VSUHDG DQG JHW FRQWURO RYHU
SURGXFWLRQV"
4 :KDWLVLQYHVWPHQW"+RZLVIRUHLJQLQYHVWPHQWGLIIHUHQWIURPLW"
4 :K\ DUH WKH WUDGH EDUULHUV LPSRVHG RQ WKH IRUHLJQ WUDGH DQG
LQYHVWPHQWLQDFRXQWU\"
4 'HVFULEHDQ\ILYHDGYDQWDJHVWRFRQVXPHUVGXHWRJOREDOL]DWLRQDQG
JUHDWHUFRPSHWLWLRQDPRQJSURGXFHUV
4 :KDWDUHWKHIDFWRUVKDYHVWLPXODWHGWKHJOREDOL]DWLRQSURFHVV"
4 +RZWKHOLEHUDOL]DWLRQSROLF\ZDVJUDGXDOO\DGRSWHGLQ,QGLD"
4 :KDWLVOLEHUDOL]DWLRQ"'HVFULEHDQ\ILYHHIIHFWVRIOLEHUDOL]DWLRQRQWKH
,QGLDQ(FRQRP\
4 +RZ LQIRUPDWLRQ WHFKQRORJ\ LV HQFRXUDJLQJ WKH *OREDOLVDWLRQ "
([SODLQ

0DUNV4XHVWLRQV
4([SODLQKRZJOREDOLVDWLRQFDQEHPDGHIDLUHU"
4 ([SODLQ ZLWK H[DPSOHV KRZ WRS ,QGLDQ FRPSDQLHV KDYH EHQHILWWHG
IURPJOREDOLVDWLRQ
4 ³)RUHLJQWUDGHLQWHJUDWHVWKHPDUNHWVLQGLIIHUHQWFRXQWULHV´6XSSRUW
WKHVWDWHPHQWZLWKDUJXPHQW
4 ³$ZLGHUDQJLQJFKRLFHRIJRRGVDUHDYDLODEOHLQWKH,QGLDQPDUNHWV´
6XSSRUWWKHVWDWHPHQWZLWKH[DPSOHVLQFRQWH[WRIJOREDOLVDWLRQ
4 ([SODLQWKHVWHSVWDNHQE\JRYHUQPHQWWRDWWUDFWIRUHLJQLQYHVWPHQW
4 ³1RWHYHU\VWDWHRI,QGLDKDVEHQHILWWHGIURPJOREDOLVDWLRQ´([DPLQH
WKHVWDWHPHQW

&ODVV;6RFLDO6FLHQFH 
$QVZHUV
$QV *OREDOL]DWLRQ LV WKH LQWHJUDWLRQ RU LQWHUFRQQHFWLRQ EHWZHHQ WKH
FRXQWULHVWKURXJKWUDGHDQGIRUHLJQLQYHVWPHQW
 3RVLWLYH,PSDFWV
 ‡ *UHDWHUFKRLFHDQGLPSURYHGTXDOLW\RIJRRGVDWFRPSHWLWLYHSULFH
DQGKHQFHUDLVHVVWDQGDUGGIOLYLQJ
 ‡ 01&
VKDYHLQFUHDVHGLQYHVWPHQWLQ,QGLD
 ‡ 7RS,QGLDQFRPSDQLHVHPHUJHGDVPXOWLQDWLRQDOV
 ‡ &UHDWHGQHZRSSRUWXQLWLHVIRUFRPSDQLHVSURYLGLQJVHUYLFHVOLNH
,7VHFWRU
 ‡ &ROODERUDWLRQ ZLWK IRUHLJQ FRPSDQLHV KHOS D ORW WR GRPHVWLF
HQWUHSUHQHXUV

 1HJDWLYH,PSDFWV
 ‡ ,QGLDQHFRQRP\IDFHGWKHSUREOHPRIEUDLQGUDLQ
 ‡ *OREDOL]DWLRQKDVIDLOHGWRUHPRYHXQHPSOR\PHQWDQGSRYHUW\
 ‡ &XWLQIDUPVXEVLGLHV
 ‡ &ORVXUHRIVPDOOLQGXVWULHV

$QV :72LV:RUOG7UDGH2UJDQL]DWLRQ,WLVDQRUJDQL]DWLRQZKLFKLVLQ
IDYRURILQFUHDVLQJWKHZRUOGWUDGHWKURXJKJOREDOL]DWLRQ

 7KH$LPRI:72

 ‡ 7ROLEHUDOL]H,QWHUQDWLRQDOWUDGHE\DOORZLQJIUHHWUDGHIRUDOO

 ‡ 7RSURPRWHLQWHUQDWLRQDOWUDGHDPRQJWKHFRXQWULHVRIWKHZRUOGLQ
DQRSHQXQLIRUPDQGQRQGLVFULPLQDWRU\PDQQHU

 ‡ 5HPRYDORIERWKWKHLPSRUWDQGH[SRUWUHVWULFWLRQV

 7KH'UDZEDFNRI:72

 ‡ ,WLVGRPLQDWHGE\GHYHORSHGFRXQWULHV

 ‡ ,WLVXVHGE\GHYHORSHGFRXQWULHVWRVXSSRUWJOREDOL]DWLRQLQDUHDV
WKDWDUHQRWGLUHFWO\WRWUDGH

 &ODVV;6RFLDO6FLHQFH
$QV 01&
VDUH0XOWLQDWLRQDOFRUSRUDWLRQV,WLVDFRPSDQ\WKDWRZQVRU
FRQWUROVSURGXFWLRQLQPRUHWKDQRQHQDWLRQ01&
VFDQVSUHDGDQG
FRQWUROE\

 ‡ 6HWWLQJXSMRLQWSURGXFWLRQXQLWVZLWKORFDOFRPSDQLHV

 ‡ 7REX\XSORFDOFRPSDQLHVDQGH[SDQGLQJLWVSURGXFWLRQEDVH

 ‡ 3ODFLQJRUGHUVZLWKVPDOOSURGXFHUV

 ‡ %\XVLQJWKHLU%UDQG

$QV 7KH PRQH\ WKDW LV VSHQW WR EX\ DVVHWV VXFK DV ODQG EXLOGLQJ
PDFKLQHVDQGRWKHUHTXLSPHQWLVFDOOHGLQYHVWPHQW
  ,QYHVWPHQWPDGHE\01&
VLVFDOOHGIRUHLJQLQYHVWPHQW(YHU\
LQYHVWPHQWLVPDGHZLWKWKHKRSHWKDWWKHDVVHWVZLOOHDUQSURILWVIRU
WKHVHFRPSDQLHV

$QV 7UDGHEDUULHUVDUHXVHGE\WKHJRYHUQPHQW

 ‡ 7RLQFUHDVHGHFUHDVHRUUHJXODWHIRUHLJQWUDGH

 ‡ 7R GHFLGH ZKDW NLQGV RI JRRGV DQG KRZ PXFK RI HDFK VKRXOG
FRPHLQWRWKHFRXQWU\

 ‡ 7R SURWHFW WKH SURGXFHUV ZLWKLQ WKH FRXQWU\ IURP IRUHLJQ


FRPSHWLWLRQ

$QV‡ 7KHUHLVDJUHDWHUFKRLFHEHIRUHFRQVXPHUVDORQJZLWKFRPSHWLWLYH
SULFH

 ‡ 7KHQHQMR\LPSURYHGTXDOLW\DQGORZHUSULFHVIRUVHYHUDOSURGXFWV

 ‡ 7KH\ HQMR\ PXFK KLJKHU VWDQGDUGV RI OLYLQJ WKDW ZDV SRVVLEOH
HDUOLHU

 ‡ 6WUHQJWKHQLQJRI&RQVXPHUV5LJKWOLNH²5LJKWWR,QIRUPDWLRQ
5LJKWWRFKRRVH5LJKWWR%H+HDUG5LJKWWR6HHN5HGUHVVDOKDV
EHHQJLYHQWRFRQVXPHUV

 ‡ /HJDOULJKWVRIFRQVXPHUVKDYHEHFRPHPRUHHIIHFWLYH

&ODVV;6RFLDO6FLHQFH 
$QV‡ ,PSURYHPHQWLQ7UDQVSRUWDWLRQ

 ‡ 'HYHORSPHQWRI,QIRUPDWLRQ7HFKQRORJ\

 ‡ 7HOHFRPPXQLFDWLRQ

 ‡ &RPSXWHUV

 ‡ ,QWHUQHW

$QV‡ $IWHU,QGHSHQGHQFHWKH,QGLDQJRYHUQPHQWSXWEDUULHURQIRUHLJQ
WUDGHDQGIRUHLJQ
LQYHVWPHQW

 ‡ ,QLWLDOO\,QGLDQ,QGXVWULHVZHUHMXVWFRPLQJXSDIWHU,QGHSHQGHQFH
VR FRPSHWLWLRQ IURP LPSRUWV ZRXOGQ
W KDYH DOORZHG WKHVH
LQGXVWULHVWRFRPHXS
 ‡ ,QWKHJRYHUQPHQWGHFLGHGWKDWWKHWLPHKDVFRPHIRU,QGLDQ
 SURGXFHUVWRFRPSHWHWKHSURGXFHUVDURXQGWKHJOREH
$QV 5HPRYLQJEDUULHUVRUUHVWULFWLRQVVHWE\WKHJRYHUQPHQWLVNQRZQ
DVOLEHUDOL]DWLRQ
 ‡ &RPSHWLWLRQZRXOGLPSURYHWKHSHUIRUPDQFHRISURGXFHUVZLWKLQ
WKHFRXQWU\
 ‡ %DUULHUVRQIRUHLJQWUDGHDQGIRUHLJQLQYHVWPHQWZHUHUHPRYHGWR
ODUJH H[WHQW 7KLV PHDQW WKDW JRRGV FRXOG EH LPSRUWHG DQG
H[SRUWHGHDVLO\
 ‡ )RUHLJQFRPSDQLHVFRXOGVHWXSIDFWRULHVDQGRIILFHVWRERRVWXS
SURGXFWLRQ,WDOORZVPDNLQJGHFLVLRQIUHHO\
 ‡ 7KH FRPSHWLWLRQ ZRXOG LPSURYH WKH SHUIRUPDQFH RI SURGXFHUV
ZLWKLQWKHFRXQWU\VLQFHWKH\KDYHWRLPSURYHWKHLUTXDOLW\
$QV
 ‡ :LWK ,PSURYHPHQW LQ WUDQVSRUWDWLRQ WHFKQLTXH QRZ ,W EHFRPH
HDVLHUWRVHQGJRRGDWGLVWDQFHSODFHDWORZHUFRVW
 ‡ 6HQGLQJDQGUHFHLYLQJLQIRUPDWLRQDUHQRZEHFRPHHDVLHU
 ‡ 7KHUHLVUDSLGO\LQFUHDVHLQWUDGHZLWKWKHKHOSRILQIRUPDWLRQDQG
7HFKQRORJ\

 &ODVV;6RFLDO6FLHQFH
$QVZHUV
$QV )URP1RWHV
$QV D 6HYHUDORIWKHWRS,QGLDQFRPSDQLHVKDYHEHHQDEOHWREHQHILW
IURPWKHLQFUHDVHGFRPSHWLWLRQ
  E  7KH\ KDYH LQYHVWHG LQ QHZHU WHFKQRORJ\ DQG SURGXFWLRQ
PHWKRGVDQGUDLVHGWKHLUSURGXFWLRQVWDQGDUGV
  F  *DLQHG IURP VXFFHVVIXO FROODERUDWLRQV ZLWK IRUHLJQ
FRPSDQLHV
  G  6RPH ODUJH ,QGLDQ FRPSDQLHV HPHUJHG DV PXOWLQDWLRQDOV
WKHPVHOYHV
  H  &UHDWHGQHZRSSRUWXQLWLHVIRUFRPSDQLHVSURYLGLQJVHUYLFHV
SDUWLFXODUO\WKRVHLQYROYLQJ,7
$QV )URPQRWHV
$QV $ZLGHUDQJLQJFKRLFHRIJRRGVDUHDYDLODEOHLQWKH,QGLDQPDUNHW
  D  7KH ODWHVW PRGHO GLJLWDO FDPHUDV PRELOH SKRQHV DQG
WHOHYLVLRQ PDGH E\ WKH OHDGLQJ PDQXIDFWXUHV RI WKH ZRUOG DUH
ZLWKLQRXUHDFK
  E  (YHU\ VHDVRQ QHZ PRGHOV RI DXWRPRELOHV FDQ EH VHHQ RQ
,QGLDQURDGV
  F  $ VLPLODU H[SORVLRQ RI EUDQGV FDQ EH VHHQ IRU PDQ\ RWKHU
JRRGV
$QV *RYHUQPHQWFDQWDNHIROORZLQJVWHSVWRDWWUDFWIRUHLJQLQYHVWPHQW
  D  ,QGXVWULDO ]RQHV FDOOHG 6(= 6SHFLDO HFRQRPLF ]RQHV  DUH
EHLQJ VHW XS WR SURYLGH ZRUOG FODVV IDFLOLWLHVHOHFWULFLW\ ZDWHU
URDGVWUDQVSRUWVWRUDJHHWF
  E  *RYWKDVDOVRDOORZHGIOH[LELOLW\LQWKHODERXUODZVWRDWWUDFW
IRUHLJQLQYHVWPHQW
  F  ,QVWHDGRIKLULQJZRUNHUVRQDUHJXODUEDVLVFRPSDQLHVFDQ
KLUH ZRUNHUV µIOH[LEO\¶ IRU VKRUW SURYLGH ZKHQ WKHUH LV LQWHQVH
SUHVVXUHRIZRUN
  G  ([HPSWLRQIURPSD\LQJWD[LQHDUO\\HDUV
$QV 'RLW\RXUVHOIIURPWKHQRWHV

&ODVV;6RFLDO6FLHQFH 

You might also like