Corruption Is Not Another Sensation - 1940 Words

Corruption in Bangladesh Introduction Corruption is not another sensation. What is new and stressing is the size and size of debasement. It has spread its limbs to each circle of national life. It is one of the greatest dangers to improvement. It can tear the extremely fabric of the general public and, contaminate, it is doing as such. Corruption advantages the rich and the well-to-do. It advances the rich and disproportionably influences poor people, unprotected and the underprivileged and in this way it extends their hardship. Unless it is checked, the administrations and individuals will need to pay a substantial cost in the ensuing aftereffect of lower livelihoods, lower ventures and lower improvements bringing about unpredictable financial swings .as of late; the subject of defilement has gotten significant consideration. Chip away at administration has brought it into the light and it is no more forbidden. Debasement is being tended to by monetary establishments, government offices, respective givers, worldwide ass ociations, non-legislative associations (NGOs) and advancement experts. Its reasons have been measured observationally, as have its effects on human advancement. Organizations and regulatory techniques have been upgraded. Nations have arranged and marked universal hostile to defilement traditions. Definition of Corruption: Corruption is the abuse of public offices for private gain. Defining corruption is imperative in the setting of worldwide endeavors toShow MoreRelatedEssay on Platos Republic981 Words   |  4 Pagesperfect society. He outlines a utopian society, out of his disapproval for the tension of political life. Plato lived through the Peloponnesian War (431-404 BC), in which much of Greece was devastated. This created poverty and political confusion and corruption. 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Different Theories And Models Of Personality - 2751 Words

Over many years of research, the word personality is still hard to define. Many psychologists disagreed on how to define psychology and how to identify behaviors through personalities. As there are many theories and models of personality, this essay will discuss the five-factor model, and its wide application within a culture or a community. One of the most important goals of personality psychology is the establishment of a model that can describe a person s personality and disorders that are associated with personality. Not only is the model suppose to be able to describe the human personality but it is suppose to help gain better insight and understanding of personality. Over time many models have come about from different Psychologist†¦show more content†¦Those were psychometric evidence, heritability, it must make sense and social relevance (Feist Feist, 2009). Over the next twenty five years, the work by Robert R. McCrae and Paul T. Costa, transformed Eysenk s Five Fa ctor Model to the framework used today. It is widely accepted as a theory that could predict and explain a phenomenon. Both followed the factor analysis techniques to observe the stability and structure of personality focusing mainly on two dimensions, they were extroversion and neuroticism during which they found the third factor; openness to experiences. Later on, McCrae and Costa concluded the five factor personality inventory (NEO-PI) that consisted of an unpublished three-factor inventory by Eysenk. Agreeableness and Conscientiousness were not developed until the release of the NEO-PI (Feist Feist, 2009). The big five framework used today was developed by Paul T. Costa and Robert R. Mcrae in 1992. It has become exceptionally useful and research has shown how commonly it is used when describing personality. The five factors used in the model are extroversion, agreeableness, conscientiousness, openness and neuroticism. It is important to understand what each of these factors rep resent to gain a proper image of a person’s personality and how they represent their behaviors. Extroversion is seen as someone with a predominant concern for obtaining gratification from stimuli outside of the self. Extroverts tend to enjoy human

Ethical Leadership for Employees and Organizations - myassignmenthelp

Question: Discuss about theEthical Leadership for Employees and Organizations. Answer: Introduction Ethical leadership is a type of authority in which individuals show coordinate for the advantage of the benefit of all that is sufficient and fitting in every part of their life. This report explains the significance of ethical leadership in the workplace. The report portrays present condition of the moral authority in connection to the organizational behavior. The report explains the significance of ethical leadership in organizational behavior. It is important to inform employees about ethics, particularly in cases where they are faced with ethical problems in the workplace. The study describes the reasons why ethical leadership is imperative for organizational behavior. The report describes the implications of ethical leadership for managers, employees, and organizations. The main purpose of the report is to create critical thinking skills that help the employees to recognize potential ethical issues, encourage and motivate employees and set clear, realistic standards which employ ees can easily follow. Concept of Ethical Leadership According to Avey et al. (2012), the moral initiative is fundamentally an administration hypothesis which uses the moral structures as a direct to deal with subordinates. Ethics deal manages the standards of lead and master with affecting another person to accomplish goals, the moral movement is impacting individual through ethics. The rising of good development can be taken after back to the shock inside the corporate world in late decades. The nonappearance of good specialist and poor great lead is among the best issues which current affiliations stand confront. The core components of ethical leadership are described as follows: Internal uniformity: According to Bello (2012), distinctive components inside the association must be morally consistent and not have inconsistencies. Pro-activity: The system should guide individuals, rather than outlining the things that people should not do. Moral authority structure looks forward and acts pre-emptively. Power: The framework is reliably reevaluated and revived by the necessities of the association and the subordinates. To put it plainly, the structure is dynamic as opposed to a static system (Bhal Dadhich, 2011). According to Bolman Deal (2017), ethical leadership supports the leaders and maintains a relationship in order to make the decisions and approach activities with innovative ideas, as opposed to having to constantly rethink and survey the condition. A system won't outfit moral pioneers with a sensible decision each time, however, it makes it simpler to investigate the condition and to tune into other person's perspective concerning the issue. A perfect way to deal with making an ethical system hopes to take after several simple activities. In the first place, the pioneer's moral structure ought to line up with that of the association he or she is driving. Consider the instance of driving an association that trusts the pioneer should only do basic leadership, while pioneers are a solid follower in a coordinated effort. The belief system will conflict and cause issues. The exemption to the rule is a circumstance where the association is searching for a pioneer to change the ebb and flo w ethical structure (Brown Mitchell, 2010). Advantages and disadvantages of ethical leadership According to Caldwell Hayes (2010), ethical leadership has been closely examined, may be due to its inclination to concentrate on such pretentious such as ideas morals. While it has a different considerable purpose of intrigue, the main hypothesis is not an ideal approach to settling hierarchical issues. The fundamental focal points of moral authority are explained as follows: Increased job satisfaction: According to Demirtas Akdogan (2015), the increased job fulfillment is driven by the initiative hypothesis' which focuses on correspondence and joint exertion. A representative does not get a handle on of line for communicating their purpose of perspectives and the association between the people in higher positions and the person in bring down positions relies upon common regard. Each individual is drawn nearer with deference and the work they perform is valued. Employee reports on issues faster: The powerful ethical structure and initiative case can also help the employees in order to solve the employee issues faster. Problems that might not emerge generally can progress toward something subordinates which feel compelled to chat with the administration which can guarantee the association to not keep running into challenges later. For instance, in organizations, for example, Enron, a solid moral structure would have alarmed the authority about the incorrect things done in the organization (Eisenbeiss, 2012). Collaborative advantages: Moral administration can likewise give an additional correspondence favorable position to an association. As moral initiative structure grasps coordinated effort and this does not simply propose co-operation inside the association. Moral associations additionally cooperate with various organizations that offer the same moral structure. The open approach to manage to oversee diverse associations and being a reliable partner can help development within the organization. The main disadvantages of ethical leadership are as follows: Affect leader capability: According to Eisenbei Giessner (2012), ethical leadership can be founded on the pioneer's ability with a specific end goal to impact the business exercises. As it were, the moral initiative has appealing administration limits, which suggests people may take after the pioneer without an essential approach. This can suggest that workers trust the pioneer so much that they disregard the pioneer's humankind and are incognizant in regards to any mistakes or issues. For an association, a blue-looked at approach with following the pioneer can decimate as far as settling on the right choices. Requirements for consistency: According to Gallagher Tschudin (2010), the prerequisites for consistency could go about as a drawback. Moral administration can be difficult to keep up, yet in the event that workers advance out the structure once, at that point they can hurt the regard earned with the subordinates and distinctive accomplices. Asserting to be a moral pioneer and not acting in a moral way could be more terrible than following another structure, however, executing moral practices in at times. Holding high moral principles: Ethics is critical and consist high-quality standards which an incredible degree confronts. The supposed hazy areas are more than at risk to develop and cause issues. The issues for the association are keeping up ethics while attempting to keep a positive essential concern. In particular circumstances, for example, staying aware of controls, the costs can go up and along these lines make moral expert monetarily destructive for the business. The downsides regarding accounts have a tendency to be here and now yet the fleeting effect can be pressing for new Importance of ethical leadership to organizational behavior According to Johnson (2017), ethics show the norms that decide business choices consistently. These influence the way an organization works and how it treats managers, customers, investors and the group in which it is found. These ethics have consequences with regards to corporate administration, social business enterprise and hiring practices. The significance of leadership as the main force for ethical practices cannot be underestimated. Often, these best officials set the tone for each choice which made inside an organization. The individuals who lead ethically are considered good models who can consider organization and their workers responsible. They make ethical culture a part of each capacity in an association from hiring and training through execution administration and coaching programs. According to Kalshoven et al. (2011), the outcomes can be significant, and researchers have noticed that representatives who rate their leaders as more moral have substantially higher employment fulfillment and engagement levels. Workers are less inclined to leave an association since they are pulled into moral good examples who treat them decently, express support for their efforts set reliably high moral benchmarks. Ethical leadership is the center esteems having the valor to live them in all parts of the life in the association of the advantage of all. Moral authority incorporates driving in a way that regards the rights and regard of others, an idea that is on occasion in coordinate clash with more customary models of administration. Already, the essential goal of administration has been to fabricate age and advantages. Extraordinary initiative alludes not exclusively to capacity, and also to morals that change affiliations and person's lives. Ethical leadership requires moral leaders. If the leaders are moral, they can ensure that ethical practices are done all through the affiliation. According to Kim and Brymer (2011), pioneers are usually in a place of essentialness both on and off the movement, so moral activity must concentrate on how pioneers use this power in the choices they influence, exercise they to appreciate and ways they influence others. Pioneers are responsible for influencing followers to perform works out, entire errands, and carry on in a specific lead. Compelling pioneers moreover influence outlines, energize change in perspectives and qualities, and open up fortifying and self-abundancy of their supporters, as they enable the disguise of corporate vision. The supporting bit of action can comparatively raise an alliance's way of life and operators respects to more lifted measures of good immediate. By demonstrating moral organization, business advances a bizarre state of respectability that empowers pa ssionate dependability and urges subordinates to perceive and take after our vision. Character and reliability give a solid establishment to other individual attributes that incite our moral sentiments, qualities, and choices. According to Mayer et al. (2010), ethical leaders are no doubt going to be people arranged, and aware of how their choices impact others. In this way, moral pioneers utilize their imperativeness and ace to serve more unmistakable advantage instead of self-serving interests and the affiliation. This showing fills in as a guide and motivation for others to put the essentials and interests of the social gathering before their own. Such engagement makes an insightful and energetic obligation among pioneers and their supporters that make both the get-togethers comparatively capable in the mission for shared goals. Push attributes of good pioneers consolidate rousing, enabling and other visionary practices that make up transformational association. Moral pioneers in like manner coach relates in getting a sense individual and ace bent that enables them to outperform wants while being more grounded, faithful attributes that incite our moral sentiments, qualities, and choices and beneficial. Implication of ethical leadership Manager: According to Piccolo et al. (2010), the ethical role of supervisors call moral authority is a mix of being a moral individual and being a moral boss. Being a moral individual lays on a blend of key qualities, for example, trustworthiness, validity, and constancy. Trustworthiness incorporates straightforwardness and validity or genuineness and in addition an idea for the soundness of the whole component that one abroad and furthermore of the overall population in which the affiliation is found. Trustworthiness likewise infers firm adherence to a code, for example, an ethical arrangement of acknowledged guidelines. Along these lines, being a moral individual prescribes that the individual has honesty and can be trusted. Notwithstanding these qualities, being a moral individual in like manner incorporates rehearses, for example, settling on the best decision, stress for people, being open, and rules of individual dependability. The pith of morals, clearly, is settling on the be st choice, especially under troublesome conditions, and that incorporates having the ability to reason well about what the best movement truly is. To have the ability to reason well about a troublesome good condition, a man ought to be occupied with picking up from various sources about the situation while taking thought not to hurt people and truly trying to treat people well in the basic leadership method or when decisions are being executed. To have the ability to utilize sound judgment ethically, an individual needs wisely developed his or her own particular game plan of measures or qualities, an individual arrangement of acknowledged standards or uprightness. Singular rules empower a man to completely consider a decision in light of a sensible method of reasoning. Employees: According to Schaubroeck et al. (2012), are the most fundamental resources in relationship without which the objectives and goals may not be proficient. The moral master may acknowledge an interceding part in the relationship between dynamic culture and delegate occurs. The moral association will probably comprehend pioneer's abundance, the vitality of operators to put in additional endeavors, workers work fulfillment and an air for the moral action to flourish; which will in the end provoke augment in the affiliation. The ethical organization is connected with a constructive outcome on laborer execution, characteristic motivation, work responses and energy of an agent to report issues. Moral pioneers propose that pioneers with solid great commitments can impact "errand hugeness" and "opportunity" of the Job Characteristic model and the status of workers to put additional exertion on undertaking execution. In the event that followers saw top manager's mind blowing incredib le picture, morals might be seen as an essential issue inside the association, and this affirmation might be a changed over into a solid imperativeness about best association by representatives inside the association. Organizations: In organizations where the organization apparently is showed up in the disappointment of the pioneer to take after guidelines, neglect to acknowledge commitment for exploitative practices and neglect to maintain a strategic distance from even the closeness of mistake. Two fundamental parts are essential to the issue of good movement in redesigning master work execution; trust and delegate commitment. As clear in the confirmation of a few stars that great morals are useful for business since it influences positive externalities to like trust and feeling of commitment as for all accessories, which thusly guarantees entire arrangement execution of firms. Impacts of ethical leadership in the workplace According to Schein (2010), ethical leadership can impact the organization over three levels which are as follows: Individuals: According to Schwartz (2013), maintaining a positive workplace is a basic commitment of a solid moral pioneer. A moral pioneer who indicates others how it's done may affect others to do same. For the most part, people are impacted by the joint efforts that occur around them. Positive correspondence among partners may empower effect to work productivity and perspective. Team: Ethical initiative can likewise incorporate the organization of lead and facilitated exertion inside a gathering. Usually, affirmation is higher in the workplace when people are existing together with each other. Right when partners are working as a gathering, it can help develop associations in the workplace and help the general execution of the social affair (Shapiro and Stefkovich, 2016). Association: According to Stouten et al. (2010), the noteworthiness of keeping up an uplifting mindset in the workplace has an extensive measure to do with improving the general prosperity of the association. At the point when people can demonstrate respect for each other and can esteem other's opinions, it may help make a useful working environment. An ethical affiliation can happen when gatherings of people participate in a circumstance of shared respect, where they can grow really, manufacture companionship and add to the general objective. Conclusion From the above report, it has been concluded that leadership is an advantage and a commitment that demands a nice plan from the people who practice it, regardless of whether formally or coolly. The moral issue is a fundamental issue to the corporate affiliation and corporate pioneers must take proactive measures. Moral pioneers are viewed as having a wide decent administer to all assistants which unite expert. This report portrays the moral administration and the different center components of the moral initiative. The report portrays the significance of moral authority to authoritative conduct and its suggestions for director, representatives and the associations. The report additionally clarifies the effects of moral administration in the working environment so pioneers must make an ethically very much arranged working environment for all delegates, pass on moral issues, fill in as awesome cases and set up an instrument for the difference in reliable employees. References Avey, J. B., Wernsing, T. S., Palanski, M. E. (2012). Exploring the process of ethical leadership: The mediating role of employee voice and psychological ownership.Journal of Business Ethics,107(1), 21-34. Bello, S. M. (2012). Impact of ethical leadership on employee job performance.International Journal of Business and Social Science,3(11). Bhal, K. T., Dadhich, A. (2011). Impact of ethical leadership and leadermember exchange on whistle blowing: The moderating impact of the moral intensity of the issue.Journal of Business Ethics,103(3), 485-496. Bolman, L. G., Deal, T. E. (2017).Reframing organizations: Artistry, choice, and leadership. John Wiley Sons. Brown, M. E., Mitchell, M. S. (2010). Ethical and unethical leadership: Exploring new avenues for future research.Business Ethics Quarterly,20(4), 583-616. Caldwell, C., Hayes, L. A. (2010). Leadership, trustworthiness, and ethical stewardship.Journal of Business Ethics,96(4), 497-512. Demirtas, O., Akdogan, A. A. (2015). The effect of ethical leadership behavior on ethical climate, turnover intention, and affective commitment.Journal of Business Ethics,130(1), 59-67. Eisenbeiss, S. A. (2012). Re-thinking ethical leadership: An interdisciplinary integrative approach.The Leadership Quarterly,23(5), 791-808. Eisenbei, S. A., Giessner, S. R. (2012). The emergence and maintenance of ethical leadership in organizations.Journal of Personnel Psychology. Gallagher, A., Tschudin, V. (2010). Educating for ethical leadership.Nurse education today,30(3), 224-227. Johnson, C. E. (2017).Meeting the ethical challenges of leadership: Casting light or shadow. Sage Publications. Kalshoven, K., Den Hartog, D. N., De Hoogh, A. H. (2011). Ethical leader behavior and big five factors of personality.Journal of Business Ethics,100(2), 349-366. Kim, W. G., Brymer, R. A. (2011). The effects of ethical leadership on manager job satisfaction, commitment, behavioral outcomes, and firm performance.International Journal of Hospitality Management,30(4), 1020-1026. Mayer, D. M., Kuenzi, M., Greenbaum, R. L. (2010). Examining the link between ethical leadership and employee misconduct: The mediating role of ethical climate.Journal of Business Ethics,95, 7-16. Piccolo, R. F., Greenbaum, R., Hartog, D. N. D., Folger, R. (2010). The relationship between ethical leadership and core job characteristics.Journal of Organizational Behavior,31(2?3), 259-278. Schaubroeck, J. M., Hannah, S. T., Avolio, B. J., Kozlowski, S. W., Lord, R. G., Trevio, L. K., ... Peng, A. C. (2012). Embedding ethical leadership within and across organization levels.Academy of Management Journal,55(5), 1053-1078. Schein, E. H. (2010).Organizational culture and leadership(Vol. 2). John Wiley Sons. Schwartz, M. S. (2013). Developing and sustaining an ethical corporate culture: The core elements.Business Horizons,56(1), 39-50. Shapiro, J. P., Stefkovich, J. A. (2016).Ethical leadership and decision making in education: Applying theoretical perspectives to complex dilemmas. Routledge. Stouten, J., Baillien, E., Van den Broeck, A., Camps, J., De Witte, H., Euwema, M. (2010). Discouraging bullying: The role of ethical leadership and its effects on the work environment.Journal of Business Ethics,95, 17-27.

Tnb-Financial Analysis Essay Example

Tnb-Financial Analysis Paper INTRODUCTION OF CORPORATION PROFILE3 TENAGA NASIONAL BERHAD FINANCIAL ANALYSIS 1998-2007 i)PROFITABILITY RATIOS AND SALES REVENUE5 ii)LEVERAGE MANAGEMENT 9 iii)EARNINGS PER SHARE11 iv)LIQUIDITY RATIOS12 v) FIXED ASSET TURNOVER15 EXECUTIVE SUMMARY17 REFERENCE18 APPENDIX 1: RAW DATA APPENDIX 2: ANNUAL REPORT 1998-2007 INTRODUCTION OF CORPORATION PROFILE Tenaga Nasional Berhad (TNB) is the largest utility company in Malaysia. It is also the largest power company in Southest Asia with RM65 billion worth of assets serving over six million customers throughout Peninsular Malaysia and the eastern state of Sabah. Its core activities are generation, transmission and distribution of electricity. TNB is the only Malaysian energy company to rank among the top 50 energy companies in Asia in 2006 (based on the Platts’s survey of the top 250 Global Energy Companies) while internationally it is ranked as 168th. TNB was formed in 1990 by the Electricity Supply Successor Company Act 1990, as the successor of the National Electricity Board of the States of Malaya (Lembaga Letrik Negara Tanah Melayu). It was listed on the Bursa Saham Securities Berhad in the year 1990. TNB Group currently has a complete power supply system generating capacity of about 11,200 MW. In Peninsular Malaysia, TNB contributes to 55 percent of the total industry capacity through six thermal stations and three major hydroelectric schemes. It also manages the transmission network i. e. National Grid which links TNB power stations and IPPs to the distribution network. The National Grid is linked via 132kV HVAC and 300 kV HVDC interconnection to Thailand and 230kV cables to Singapore. TNB’s distribution network is managed through a comprehensive distribution system; customer service centres and calls management centres. We will write a custom essay sample on Tnb-Financial Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Tnb-Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Tnb-Financial Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Through its subsidiaries, TNB is also involves in the manufacturing of transformer, high voltage switchgears and cables, provision of professional consultancy services, architectural, civil and electrical engineering works and services, repair and maintenance, research and development and project management services. TNB also offers higher education through its university – University Tenaga Malaysia (Uniten). The Group mission is â€Å"We Are Committed to Excellence in Our Products and Services† FINANCIAL ANALYSIS (1998 – 2007) The purpose of this chapter will cover the analysis of financial statement from year 1998 to 2007 of Tenaga Nasional Berhad (TNB) to help evaluate the operating performance and financial positions. Operating performance analysis focuses on how well the organization is matching revenues and expenses or expenditures while financial position analysis focuses on how well positioned the organization is to pay its bills. The Groups principal activities are generating, transmitting, distributing, operating and selling electricity . Other activities include repairing, testing and maintaining power plants, providing engineering, procurement and construction services for power plants related products, assembling and manufacturing high voltage switchgears, coal mining and trading . Operations are carried out in Malaysia, Mauritius, Pakistan, India and Indonesia. Profitability Ratio And Sales Revenue Profitability ratio has increased tremendously from a negative 28% in 1998 to a positive 18% in 2007. This shows how well TNB is performing by analyzing profit earned relative to sales, total assets and net worth. The Group recorded a 14. per cent growth in revenue to RM23,320. 4 million in FY2007 from RM20,384. 2 million in FY2006 and 110 per cent growth in revenue from RM11,075. 6 million in FY1998. This can be seen in a staggered rise and was driven by various factors such as the implementation of the new tariff structure which took effect in the middle of Y2006, foreign exchange translation gains and a 5. 3 per cent increase in electricity demand. This is also reflected by higher electricity sales which increased by RM2. 7 billion or 13. 6% and cost savings. EBITDA increased to 37. 6 per cent compared to 35. per cent last year while net profit increased by 90. 9 per cent from RM2,126. 9 million (Y2006) to RM4,061. 1 (Y2007) million which is almost double the amount; and also a huge increase from a loss of RM3,093. 9 in Y1998. TABLE 1:TNB PROFITABILITY RATIOS 1998 2007 Ratio/Year1998199920002001200220032004200520062007 NET PROFIT MARGIN-0. 280. 070. 100. 150. 060. 060. 050. 070. 100. 17 ROA-0. 070. 020. 030. 040. 020. 020. 010. 020. 030. 06 ROE-0. 240. 060. 090. 130. 050. 070. 050. 080. 110. 17 TABLE 2: TNB CHANGES IN SALES REVENUE 1998 – 2007 RM/Year1998199920002001200220032004200520062007 Sales Revenue (RM million)11075. 6011716. 1013220. 00 13,951. 80 15375. 1016457. 8017712. 1018326. 4019707. 4022384. 00 FIGURE 1 FIGURE 2 FIGURE 3 FIGURE 4 Leverage Management Apart from registering its highest profit ever, the Group has for the past reduced its loan from RM27. 1 billion in Y2006 to RM23. 9 billion in Y2007. For the past 3 years, a major restructuring of loan has been done. As we can see of RM32. 4 billion in Y2004 to RM23. 9 billion in Y2007, reflecting a RM8. 5 billion or 26. 2 per cent reduction. During the same period, TNB has managed to collect RM553 million from major delinquent debtors and also eduction in theft. Due to the various cost management initiatives undertaken by the Management, the Company has realised around RM2. 4 billion in terms of value creation since 2004. TNB also saw increasing foreign investors’ interest in its shares, when foreign shareholding reached 28. 4 per cent in May 2007; it’s highest since the Company’s privati sation. Given the continued strong financial outcomes, the Company is poised to undertake appropriate growth opportunities within its core business areas. TABLE 5: TNB LEVERAGE MANAGEMENT RATIO 1998 2007 Ratio/Year1998199920002001200220032004200520062007 DEBT RATIO0. 70. 70. 70. 70. 70. 70. 70. 70. 70. 6 DEBT-TO-EQUITY2. 22. 41. 91. 72. 12. 22. 21. 861. 40. 78 FIGURE 5 FIGURE 6 Earnings Per Share During the year 2007, the Board announced a dividend policy for the purpose of providing stable and sustainable dividends to shareholders while maintaining an efficient capital structure and ensuring sufficient funding for future growth. Under this policy, TNB will distribute 40-60 per cent of the Company’s annual free cash flow as dividends. As such, the Board of Directors is recommending a final gross dividend of 16. sen per ordinary share less income tax of 26 per cent to shareholders of the Company. Together with the interim dividend of RM632 million, the total dividend declared for this Financial Year amounts to an estimated RM1,154. 5 million. From track record Y1998 to Y2007, Y2007 has the highest payout. This change of a negative EPS of 99. 8 sen in Y1998 to a turnaround posit ive 94. 9sen in Y2007 (an 81% increase compare to Y2006 of 52. 5sen). TABLE 6 : CHANGES IN EPS 1998 2007 Ratio/Year1998199920002001200220032004200520062007 EPS-99. 824. 942. 967. 830. 734. 126. 132. 052. 594. 9 FIGURE 7 Liquidity Ratio The current ratio can give a sense of the efficiency of a companys operating cycle or its ability to turn its product into cash. It measures a companys ability to pay short-term obligations. Liquidity ratios measure the short-term ability of the entity to pay its maturing obligations and to meet unexpected needs for cash. As per the above calculation, current ratio and quick ration for TNB decrease from year 1998 to 2000 but increase from 2000 to 2007. The increase in both current and quick ratios from 2000 to 2007 indicates improvement in liquidity (Current ratio from 0. 5 times in 2000 increased to 1. times in 2007; quick ration from 0. 4 times in 2000 to 1. 2 in 2007). The current ratio means for every dollar of current liabilities, in year 2007, TNB has $1. 50 of current assets compare to 1998 which has only $0. 80. While for quick ratio, TNB performed quite well too. Ratio increased from year 2000 to 2007. The peak was in year 2004 with the quick ratio of 1. 4. The company is â €˜cash rich’ and able to pay off short-term obligations without relying on the sale of inventories. TABLE 4: TNB LIQUIDITY RATIO 1998 2007 Ratio/Year1998199920002001200220032004200520062007 CURRENT RATIO0. 0. 70. 50. 70. 80. 91. 71. 21. 41. 5 QUICK RATIO0. 60. 50. 40. 60. 60. 51. 411. 11. 2 FIGURE 8 FIGURE9 Fixed Assets Turnover Assets management ratios measure how effectively TNB is managing its assets. Fixed assets turnover ratio for the company is increasing from the year 1999 to 2007, from 0. 27 to 0. 41, 51% improvement over 9 years of business operation. Over the 9 years TNB’s total assets turnover ratio increased from 0. 25 times in 1999 to 0. 34 times in 2007. This indicates that the company is generating sufficient volume of business given its total assets investment. Sales increased, some assets were sold, or a combination of these steps had been taken. TABLE 3: TNB ASSET MANAGEMENT RATIOS 1998 – 2007 Ratio/Year1998199920002001200220032004200520062007 FIXED-ASSET TURNOVER0. 280. 270. 290. 290. 300. 320. 330. 350. 370. 41 TOTAL ASSET TURNOVER0. 260. 250. 260. 260. 270. 270. 280. 300. 310. 34 FIGURE 10 FIGURE 11 Executive Summary In summary, it can be seen that Tenaga Nasional Berhad has increased its performance quite steadily for the past ten years. It has managed to improve its performance from losses to steady growth of earnings and profit. It has done by steadily increasing its tariff, earnings from foreign exchange translation gains and increase in electricity demand. Tenaga Nasional Berhad are also able to manage its debt by decreasing it quite considerably. The company managed to collect its debt from major delinquent debtors and also reduction in theft. Though its total revenue increases, there is large escalation in total operating cost. This in turns has resulted into slight decrease of its profit margin. It has shift its operation towards fuel- fix in order to reduce the cost of coal usage and also maximizing its gas and hydro usage from its multi-fuel plants. The rising coal price has increase the total fuel cost. However its foreign exchange gain and continued effort in cost management has increased its pre tax profit. TNB would need to resort to the capital market to finance its capital expenditure requirements due to increases in operating cost and requirement to enhance its electricity supply reliability. TNB also has plans to further increase its tariff in 2008 due to the increasing cost i. e. the increase in the selling price of independent power plant (IPP) where it purchases some of its energy requirement This has lead to a lot of debate in the government and also its consumer. There are pressures for TNB to review its current contract with the various IPP to ensure that TNB will be able to fully benefit and earn a profit from its agreement with them. It remains to be seen if TNB will do so despite pressure from its consumer to not increase the tariff. In conclusion, TNB should be able to sustain its current growth and further increase if profit. However TNB must be mindful of its operational cost in order for it to sustain its profit. REFERENCE ?Tenaga Nasional Berhad Annual Reports 1999-2007 ?www. tnb. com. my ?http://en. wikipedia. org/wiki/Tenaga_Nasional

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