Internationa project finance law Essay Example | Topics and Well Written Essays - 5000 words

Internationa project finance law - Essay Example In 2010, the gross domestic product per capita of Malaysia was about US$14,700. In the year 2009, the nominal gross domestic product (GDP) was around $383.6 billion, and the nominal GDP per capita was about us$8,100. â€Å"The IMF, in its September 2011 World Economic Outlook Report, lowered its forecast for 2012 global growth to 4 per cent, down from 5.1 per cent it had forecasted earlier. By early January 2012, its chief economist had announced that the IMF would on 24 or 25 January 2012 makes a "fairly substantial" cut to its forecast for global economic growth this year†2 Power Purchase Agreements  in Malaysia: Power Purchase Agreements  are agreements between two parties, the one who creates electricity for the cause of sale and the one who is seeks to purchase electricity. There are different kinds of power purchase agreements. They include the source of energy harnessed from solar power, wind, etc. Financing the project is defined in the agreement, which also identi fies applicable dates of the project coming into consequence, when the project starts marketable operations, and an execution date for which the agreement can be abandoned or renewed. Every sale of electrical energy is metered, to provide the buyer and the seller with the exact data regarding the amount of electricity created and bought. The electricity charges are decided upon the agreement between the aforementioned two parties, to give an economic enticement of being a  Power Purchase Agreement. â€Å"In Malaysia, the power generation sector is principally dominated by three integrated power producer companies: Tenaga Nasional Berhad (TNB), Sabah Electricity Sdn Bhd (SESB) and Syarikat SESCO Berhad (SESCO). TNB and SESB fall under the jurisdiction of the Energy Commission (EC), whilst SESCO is under the jurisdiction of the Sarawak State Government. TNB is the main electricity supplier for Peninsular Malaysia while East Malaysia is covered by SESB (Sabah) and SESCO (Sarawak)â⠂¬ 3 In the year1992, Independent Power Producers (IPPs) were permitted to enter the national power generation division, to move the problem of power plant financing from government owned electricity principles to the private sector. The motivations for the IPP programme too came from the prevailing then set back in power generation capability. The openings of five IPP licences were awarded to huge business units. The tariffs for first generation IPPs were as well especially more than those for subsequent IPPs, which helped capital market financing for the initial waive of IPP savings, with the auspicious risk distribution of IPP connected risks. The enduring power purchase agreement (PPA) in which generation facility is sold to TNB insulates the IPP from fuel cost and demand cost risks. Subsequent PPAs have featured lesser tariffs, and an additional balanced distribution of risks with necessary availability targets, and various quantify of demand risk sharing. The strong credit pr ofiles of most of the issuers from this division carry on to be supported by their stable and predictable cash flow generation. â€Å"

To what extent selection methods are acceptable by organisations Essay

To what extent selection methods are acceptable by organisations - Essay Example Various factors, both internal and external, contribute to the process of recruitment which includes recruitment policy, costs, growth and expansion of the organization along with supply and demand of specific skills in the market, political and legal considerations, etc. (Gupta, 2007). According to Edenborough (2007) ‘selection can be defined as the combination of processes that lead to the choice of one or more candidates over others for one or more jobs or roles’. However it is to mention that selection of the employees starts where recruitment ends. Selection is the process of discovering the qualifications and characteristics of the job applicant in order to establish their likely suitability of job position which requires a methodical approach so as to find the best person for the job (Haryani, 2008). There are various methods of selection to complete the recruitment process to get the best human resources that can carry out the work with elan. However it is necess ary to understand that various other factors like employee union, political and legal pressure, etc. impede the selection process making it difficult for the companies to complete the process, therefore it is necessary to select a suitable methodical approach of selection for the completion of recruitment process. ... ection process of recruitment 3) To analyze the extent of use of psychometric tools, social process and other internal and external sources by studying the selection process in one of the employee recruitment agency. 4) To analyze, the extent to which selection methods could be adapted by an organization. Review of Literature Recruitment is typically regarded as the poor relation of selection while selection has caught the attention of organizational psychologists keen to improve the reliability and validity of selection methods (Marchington and Wilkinson, 2005). Selection methods ensure that investments made in job design, advertising, career fairs and other recruitment activities bear fruit in the form of qualified, skilled and well motivated new employees who will be able and willing to contribute to the objectives of the organization (Nankervis, Compton and Morrissey, 2009). Selection techniques cannot overcome failures in recruitment but makes them evident (Marchington and Wilki nson, 2005). Williams (2005) mentions various factors which need to be considered while choosing selection methods. Selection criteria for the post to be filled, acceptability and appropriateness of methods, abilities of staff involved in the selection process, ease of administration, time factors, accuracy and cost are some of the factors that should be considered and worked upon while deciding the selection method. Most common recruitment methods used by employers include closed searches i.e. employment from internal sources, word of mouth, associations with schools, colleges and universities; recruitment agencies and responsive methods i.e. speculative applications, open searches, local newspaper advertisements, adverts in specialist press, national newspaper, website, radio and