MINI-CASE: NINE DRAGONS PAPER1 The Global Recession This time is really different. macroscopic and thin be all affected. In the past, the big waves would only if wash apart the sand and leave the rocks. Now the waves are so big, steady some rocks are being water-washed away. - Cheung Yan, co s elucidate and Chairwoman of Nine potassium hydrogen tartrates piece of music2 The set-back week of January, 2009, was proving to be a challenge for Nine Dragons Paper. The gild had to repeatedly deny rumors that it was on the exhibit of bankruptcy. A variety of media reports everyplace the past two weeks had inform that the companys inability to helper its debt would lead to a bankruptcy filing. Incorporated in Hong Kong in 1995, Nine Dragons Paper (Holdings) Limited, had become an international powerhouse in the opus industry. The companys elemental intersection was linerboard, with a product line including kraftlinerboard, testlinerboard and white lead linerboard in a portfolio of paperboard products used to manufacture consumer product packaging. The company had expanded rapidly and spent extensively. But by January 2009 the human economy was spiraling downward. Squeezed by market conditions and weight down by debt, Nine Dragons Paper (NDP), the largest paperboard manufacturer in Asia and bite largest in the world, saw its share price toss to HK$ 2.
33, 90% off its high and less than half of harbour value. As the economic crisis of 2008 bled into 2009, export-oriented industries suffered. Rumors had been buzzing since October that NDP was on the ropes. It was carrying so some(prenominal) debt that more than than one analyst was a! sking Will they go bust? Was the fiscal crisis of 2008 about to claim another victim, or had friction in the midst of the global economic crisis and the companys debt ignite jittery nerves in the global markets? The Chairlady Cheung Yan, or Mrs Cheung as she preferred, was the visionary force rear end NDPs success. Her conglomerate had been built from trash, discarded cardboard cartons, to be precise. The...If you want to get along a full essay, order it on our website:
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