Financial Model

NB: To calculate the WACC, we have used the web-source:, with the next parameters: Country: Singapore; Sector: Financial Services. The resut is used for furthe calculations: 7.95% NB: In our calculations, we assume the investments inflow in 2018 (period 0) and other effect from operating activity in 2018 defined as period 0. NB: The CFS index is quite specific and is calculated based on independent panel survey for the existing Financial Institutions and Service Providers (namely, for Financial Institutions) within the bundle of four parameters: transaction volume, profits, employment and investments. Inasmuch as having no possibility to performe the independent survey for at least 15 independent participants in comparison to other Financial Institutions, there is only possible way for prediction of our influance on the CFS branch index.

The CFS Index is compiled from different sub-indices. Panel participants are asked questions about four different business parameters: transaction volume, profits, employment and investments, The answers may be given as “positive”, “neutral”, or “negative” and a response is requested for the previous and the current quarter.