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Kế toán quản trị MBA Phân tích cty Phân bón KFV

GROUP 3
ANDREWS UNIVERSITY

APPRAISE THE PROJECT OF
KFV FACTORY PRODUCE NPK
FERTILIZER
MANAGERIAL ACCOUNTING


Appraise the Project of KFV Factory produce NPK fertilizer

TABLE OF CONTENTS
---------SUMMARY INFORMATION OF NPK FERTILIZER COMPANY

I.
II.
III.
IV.
V.
VI.


Introduction...............................................................................................2
Investment Cost........................................................................................2
Revenue.....................................................................................................4
Operating Cost..........................................................................................4
Working capital.........................................................................................6
Macro parameters .....................................................................................6
APPRAISAL THE PROJECT

1. Project appraisal techniques............................................................................7
1.1 Net Present Value (NPV)..........................................................................7
1.2 Internal Rate of Return..............................................................................8
2. Conclusion......................................................................................................................9
3. Reference .....................................................................................................................10

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Appraise the Project of KFV Factory produce NPK fertilizer

SUMMARY INFORMATION OF NPK FERTILIZER COMPANY

I.

Introduction:

Our project is the fertilize company KVF, which joint venture between Taekwang
Industrial Korea and Huchems chemical group also Korea that located HiepPhuoc
industrial park.
Huchems will take care operation the factory and Taekwang Industrial with
20years experience in Vietnam will take care distributing products.
KVF invest 60mil USD for 5,7ha factory which has design capacity 360.000tons
per year with variety NPK fertilize products have been produced on the latest
technology. All products meet to international standard about environment and
quality
KVF focus on producing products with NPK contain 20-20-15 and have to be use
in local also export to Asian country, Japan and Korea.
II.

Investment cost:


The NPK fertilizer factory has a capacity of 360,000 tons per year and the factory
is built on 87,897 m2 of land with a total investment cost of 1,196,253 million
VND, including land rental, design, construction and other expenses. The project
life cycle is 25 years.
Sponsor:
The Company borrows 73.6% from the bank at an interest rate of 8.5% in VND,
With a loan term of 13 years, the principal repayment period is 10 years, the grace
period is 3 years, and the principal and interest are paid monthly,
The rest - 26.4% is funded by equity.
The details table is shown below as TABLE 1, TABLE 2 and TABLE 3:

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Appraise the Project of KFV Factory produce NPK fertilizer

Table 2: investment:

Table 3: Long term Loan

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Appraise the Project of KFV Factory produce NPK fertilizer

III.

Revenue:

NPK fertilizers sells for 9, 89 million VND/ton domestically, the export price is 9,4 million
VND/ton.
According to the plan of total consumption:
Year 1 is 108,000 tons
Year 2 is: 144,000 tons
Year 3 is 180,000 tons
Year 4 is: 216,000 tons
From year 5 to year 25: 252,000 tons / year.
The details table is shown below as TABLE 4:

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Appraise the Project of KFV Factory produce NPK fertilizer

IV.

Operating costs:

The total cost of products sold domestically is VND 9,457,546/ton of product, the export
products are VND 9,211,916/ton including the cost of raw materials, depreciation, maintenance,
insurance, Management, cost of sales, logistics, etc. are shown in the detail of Table 7 - TABLE
OF EXPENSES

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Appraise the Project of KFV Factory produce NPK fertilizer

V.

Working Capital

The working capital cycle is estimated at 4 cycles/ year, the detailed of working capital
requirements are shown in Table 8.
The details table is shown below as TABLE 8:

VI.

Macro parameters:

The Exchange rate: 22,330 VND/ USD. It is estimated that the annual rate of inflation in the
project life cycle is 10%.Income tax is waived within 3 years, from the 4th years to the 25th
years apply at 20%.

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