APPENDIX

Chart: Forecast sale in domestic market from 2015 to 2024

Chart: Export Volume of Massan from 2015 to 2024

Chart: Total Sales of Massan from 2015 to 2024

WACC of project
WACC
Beta
Risk free rate
Average market return
Cost of debt (Kd)
Debt /(total capital)

12.5%
0.80
8.50%
17.85%
9.00%
0.5

WACC of Cott's investment

WACC
Beta
Risk free rate
Average market return
Cost of debt (Kd)
Debt /(total capital)

16.0%
0.80
8.50%
17.85%
9.00%
0

Debt vs Equity of Masan Corporation

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

12630

13883

10623

15875

Equity
22303

18994

8981

Debt

12017

2
1.8

1.77

1.6
1.4

1.37

1.2
1
0.8
0.6

Debt/Equity ratio
0.8

0.8

0.4
0.2
0
2010

2011

2012

9/30/2013

Max-fruit products (Demo design)