The Working Capital Series Part I
In this recorded presentation, Damian Glendinning identifies the trade-offs that corporates need to make when establishing a Working Capital Policy.
The Working Capital Series comprises six presentations on working capital:
1.Policy: manage the level? – How to handle the business trade-offs?
2.How do we fund it? – On or off balance sheet? Long or short term?
3.Instruments – factoring, LCs, etc. – and the accounting treatment.
4.Accounting, measurements, incentives and KPIs
5.New technology and funders – internet portals
6.Business creep – keeping up with changes in the business model
Notes on China
Call date: 22nd Nov 2018
This report comprises Damian Glendinning’s commentary on some of the issues raised in our Treasury peer Call on Repatriating Cash from China which took place on 22nd Nov 2018.
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Topics covered in this report
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Repatriating cash from China
Call date: 22nd Nov 2018
In this call, members discussed cash repatriation from China, including: Dividends, Cross-border pooling, Entrustment loans and Euro invoicing.
The call was expert chaired by Simon Jones, whose conclusion appears below.
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Chair’s conclusion
Cash can be liberated from China. Dividends are the most robust route to doing this, but cross border sweeping is back in action and working for some corporates. Getting the right local concentration structure is important to leveraging a cross border liberation of cash offshore and can be done in a tax effective way. Invoicing cross border is an equally important topic and as businesses grow tends to become more in local currency via local entities and therefore means more potential cash in China to repatriate in the future
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Treasury & FX in Turkey
Call date: 12th Dec 2018
In this call, members shared their approaches to Treasury & FX in Turkey, including:
The call was chaired by Arnaud Francq whose key takeaways are listed below.
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Key Takeaways
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