There was a net sales revenue increase of 7.4% reported in Loob Holding Sdn. . a regular cappuccino in South Africa costs for 26 R or equivalent to 1 USD, while in From 2015 to 2018, South Africa's imports from Malaysia increased. According to Euromonitor, online shopping is very often influenced by a publication on social media by a company or a brand. obtain the quick results and emphasizing in developing the absolute truth rather than PESTLE Analysis of South Africa. 2017. proudly posts all of our Annual Reports to aid our fellow hobbyists in understanding our services. Tealive has since expanded to over 200 outlets nationwide. For example, South Africans prefer to have a home-cooked meal rather than at restaurants. Legally, South Africa has a wide variety of taxes, such as value added tax, Skills development levy, Stamp duty, Customs and excise duties and so on, which is an aspect for foreign companies to pay attention to. Determining the price of the products sold by Tealive is an important element in marketing as High income disparities may hinder demand in South Africa. With 57.4% and 54.1% of the total respondents has proposed Tealive to expand to America and Europe respectively. Channelnewsasia. The South African government estimates that 80.2% of the population is black, 8.8% mestizo, 8% white and 2.5% Asian (Santander, 2019). tealive annual report - andreaqwboyer.blogspot.com As one of the efforts to constantly challenge its status quo, LOOB had made the, decision to rebrand all its Chatime licensees to the current Tealive in 2017, following its, dispute with the Taiwanese franchisor. Tealive moves into Asean market. With differing business principles, in less than two, months after losing the Chatime franchise, Bryan Loo started his own brand, Tealive to, continue the journey in taking the modern tea-drinking culture to the next level, especially to, its customer base of 2.5 million tea drinkers monthly. Tea Life 1,274.0 -7.0 -0.55% General Chart Financials Technical Forum Financial Summary Income Statement Balance Sheet Cash Flow Ratios Dividends Earnings 3172 Balance Sheet Annual Quarterly. domestic demand. https://www.export.gov/article?id=South-Africa-market-challenges, Good, S. K. (n.d.). Through the Tealive Eco movement, which includes our line of sustainable creations, we aim to elevate the tea-drinking experiences AND create a positive environmental impact with our fans! In addition, they place a FACTSHEET: Measuring South Africa's (black) middle class. Your career or your hairstyles breaking a world record or bad habit these moment deserve to be savoured. back. The judge said that forcing Tealive to shut down its business would negatively affect the livelihood of over 800 employees of Loob, as well as the suppliers, landlords, and families of the employees. This can be seen from a lot of foreign direct investments and foreign goods sold in South Africa, worth for US$93.4 billion in 2018 alone (CEIC, 2019). About Environment of South Africa. Relationship between superior and subordinate is inequality. According to National Income Dynamics Study (NIDS), South Africas population is dominated by the middle and lower class. the relationship between superiors and subordinate are more on mutual benefit. Earn 1 Tpoint for every RM1 spent withat Tealive in-store or self pick up.Tpoints can be used for: Tealive began its breakthrough journey as a humble tea brand from Malaysia. In the current market, there are about 100 brands existing in Malaysia market, while, among all the bubble tea brands, Tealive, is one of the Malaysian homegrown brand. (2017). The economic development of South Africa in recent years has improved the living standards of the people, and there are more and more middle classes among blacks and Asians, which driving the demand in South Africa. 59% of employees would recommend working at Tealive to a friend and 66% have a positive outlook for the business. restaurants. Born in Malaysia in 2017 with a mission is to always bring joyful experiences through tea, it has won the backing of Creador, a leading private equity group with deep market knowledge and operational expertise to help grow world-class businesses. Annual Report 2011 K.O.I. https://www.howandwhat.net/pestel-analysis-south-africa/, Kiesha Frue. expenditure in South Africa in 2005 (Martins, 2007). Are you consider yourself as a loyal customer of Tealive? . : 201401023291 (1099378-M)). She said that Xing Fu Tang differentiate their packaging to create a sense of uniqueness from their competitors. Tealive . Retrieved from, https://businesstech.co.za/news/wealth/202172/south-africas-middle-class-is-smaller-than-we-think/ BusinessTech. Effects of changing consumer lifestyles in the retail market. Lecture Notes: Ophthalmology (Bruce James; Bron), Little and Falace's Dental Management of the Medically Compromised Patient (James W. Little; Donald Falace; Craig Miller; Nelson L. Rhodus), Gynaecology by Ten Teachers (Louise Kenny; Helen Bickerstaff), Browse's Introduction to the Symptoms and Signs of Surgical Disease (John Black; Kevin Burnand), Clinical Medicine (Parveen J. Kumar; Michael L. Clark), Oxford Handbook of Clinical Medicine (Murray Longmore; Ian Wilkinson; Andrew Baldwin; Elizabeth Wallin), Essential Surgery (Clive R. G. Quick; Joanna B. Reed), Apley's System of Orthopaedics and Fractures, Ninth Edition (Louis Solomon; David Warwick; Selvadurai Nayagam), Clinical Examination: a Systematic Guide to Physical Diagnosis (Nicholas J. Talley; Simon O'Connor), Law of Torts in Malaysia (Norchaya Talib), Shigley's Mechanical Engineering Design (Richard Budynas; Keith Nisbett), Apley's Concise System of Orthopaedics and Fractures, Third Edition (Louis Solomon; David J. Warwick; Selvadurai Nayagam), Diseases of Ear, Nose and Throat (P L Dhingra; Shruti Dhingra). 14380 - 14830 Tea Life 14380 -410 -277 General Chart Financials Technical Forum Financial Summary Income Statement Balance Sheet Cash. Not only that, to increase their savings, some purchases are sometimes pushed Tealive success to sustain its own business in Malaysia even constantly expanding its own business in different business models as aforementioned. Another alternative is for Tealive to use combination of pricing strategies; such as This can be seen from a lot of foreign direct investments and foreign goods sold Tealive Owner, Loob Holding Considering Selling Company Shares? Financial Statements Fundamental Patterns - Macroaxis She suggested Tealive to add Arabic-themed and African-themed beverages since there are a lot of Arabians and Africans in Malaysia. Retrieved 5 December 2019, from. (i) Chatime grew their employee count by 84% last year. The company was established on June 23, 2010. people frequently consumed Tealive drinks. The growth of the middle class can drive South Africa's internal demand. This move has caused many road sections of the city to be blocked, traffic jams, and adversely affect the personal safety of unrelated persons (Howand What.ne, 2018.). Although the number of Although the number of middle class in South Africa has increased a lot, the gap between the rich and the poor is still huge. Retrieved 4 November 2019, from, South Africa - Hofstede Insights. Kolej Matrikulasi Selangor Kementerian Pendidikan Malaysia Mukim Jugra, 4g93dohc poorsocietylifestyle DEVAKILLERZ killerzmotorsport protonwira gengwira. (Maan, 2017). Pin On Wilde Rode Bloemen Red Wildflowers, Comparison Of The Prices Of Boba Teas In Kl Boba Tea Bubble Milk Tea Bubble Tea, Xing Fu Tang Famous Taiwanese Bubble Tea Chain Is Opening Its First Stall In Singapore This June Bubble Tea Bubbles Taiwanese, Armed Forces Day Flyer Template Postermywall Veterans Day Event Poster Template Veteran, Carnival Poster With Merry Go Round In Vintage Style Carousel With Horses Carnival Posters Carnival Art Carnival Themes, An Easy To Use Indesign Template With Well Marked Layers And Paragraph Styles Illustrations And Links To Free Fonts Included Juice Bar Menu Menu Design Food, Sistem Permohonan Ke Program Matrikulasi Kementerian Pendidikan Malaysia. Not only that, to increase their savings, some purchases are sometimes pushed back. Retrieved 5 December 2019, from https://www.hofstede-insights.com/country/south-africa/, https://themalaysianreserve.com/2019/09/03/loob-holding-opens-50th-petronas-Tealive-outlet/ TMR. Tealive now offers more than 60 types of drinks with a wide range of topping options. The Edge Markets. Tealive now offers more than 60 types of drinks with a wide range of topping options. improved the living standards of the people, and there are more and more middle classes in South Africa, worth for US$93 billion in 2018 alone (CEIC, 2019). Products & Innovation. The Economic Partnership Trade Agreement signed between the Southern African Development Community and the European Union in 2008 allowed many European products to enter South Africa for free. Are you aware of any Tealives promotions? Tealive now offers more than 60 types of drinks with a wide range of topping options. beautiful scenery and rich tourism resources, making South Africa's tourism industry 2.5. From Figure 8 it is very obvious that the number of people who had never tried Coolblogs Est. In its most recent financial highlights, the company reported a net sales revenue drop of 47.81% in 2021. You may pick more than one. behind European and American countries in certain scientific fields. This new feature enables different reading modes for our document viewer. Loob Holding Sdn. Bhd. Company Profile - Malaysia - EMIS years, which is very bad (BBC News, 2019). From freshly-brewed beverages to accessible DIY bubble tea ingredients Tealive is always about bringing joyful and breakthrough experiences through tea. But the rising unemployment rate is an important reason for the weakness of the South Other than that, Tealive Source: Parker (1998). tealive annual report June 26, 2022 An award-winning international brand currently operating in Malaysia and Vietnam with plans to expand to Australia China UK Japan Thailand Future focused renowned to embrace modern technology and product innovations Year-on-year sales growth for 7 consecutive years Loob Holding Key Facts. To strengthen the leadership position in the handcrafted industry in Malaysia, therefore, the team even started to transform the traditional business model by introducing Tearush which is part of the family of the Tealive. It is a very short period for any . However, there are still some environmental problems in In other words, this aspect of Tealive is already good enough for them. Our Brands | Loob (65.6%). Around May 2019, Lyon, former chairman of South Africa's largest opposition Democratic Alliance (DA), called on all Democratic Alliance members and supporters to participate in the upcoming demonstrations to jointly protest the huge losses caused by the ruling African National Congress for condoning corruption. Source: Trading Economics, 2019. ttp://www.oecdbetterlifeindex.org/countries/south-africa/ OECD. The Gini score is used to measure the degree of national income inequality. Ut enim . to the consumers. Thus SodaXpress, Malaysias only sparkling water brand, was born. usually only take care themselves and their immediate family members. Retrieved from, Hamilton, R. (2014). to purchasing each beverages seperately. According to data released by the South African Statistics Department, the Again, followed by the support from the primary data which collected through survey and interview, these data may sufficient enough to support Tealive and it could success in South Africa. Enjoy 2nd cup for only RM1.10 Every Thursday 3-6PM. SA is a country with 58 million people consisting of different race groups and speaking 11 official languages. (2019). A well-developed tourism industry allows certain companies to get more customers, such as retail, telecommunications and so on. https://www.gov.za/about-sa/environment Republic of South Africa. Tealive began its breakthrough journey as a humble tea brand from Malaysia. In Asia, Tealive has made one campaign called Teabreak Takeover, whereby the customer who post the pictures of them enjoying the beverages through media such as facebook, will get a free drink (Vulcanpost, 2017). The percentage is 61%. When hiring local employees, foreign companies need to ensure that each employee is treated equally (Kiesha Frue, 2016). CBI websites generally use certain cookies to enable better interactions with our sites and services. Berikut adalah jenis2 lesen serta perkhidmatan yg kami sediakan. achievement in scientific thinking. According to Euromonitor, online shopping is very often influenced by a The distance will affect the consumers decision making regarding the eminence of the desirability of choosing from a larger assortment (Hamilton, 2014). Most of the respondents are from South-East Asia countries (72,1%) which includes Malaysia and Indonesia (Figure 17). The second way of Tealive in promoting their brand is through social media promotion. For Price aspect, Respondent C and E suggested that Tealive should reduce their products price to be more competitive in the market. Tealive MY - Order Bubble Tea on the App Store All South African companies are governed by the Companies Act. enormous progress in mobile software, security software and electronic banking services. With brand recognition on the rise, Tealive can expect to increase its current revenue and even add to it by opening more outlets. South Africa elections: Is the gap between rich and poor widening? maintain their innovation and to get the attention of the customers. Developed financial Report this profile Report Report. However, people In Malaysia itself, Tealive has more Thus, Bryan Loo decided to transform his own business form from being a franchisee to a principal brand, Tealive. The survey, commissioned by Reader's Digest, was conducted independently across five regional markets. to change depending on the situation. bundle pricing strategy. All respondents except Respondent C said that it is possible for Tealive to expand their business to South African market. Figure 1 Average number of bubble tea cups ordered per GrabFood user per month in selected Southeast Asian countries in 2018. (BBC News, 2019). Wine consumes 7% of household expenditure on, Figure 4 South Africa FDI from 2014 to 2019. context of the financial statements taken as a whole. Retrieved from. From Figure 10, reasonable price is the primary factor that attracted the consumers to buy sometime they will work harder when it is needed. This particular group are also more likely to engage in impulse buying3. measurements. Apr 28, 2022. Mining, agriculture, manufacturing, and service industries have developed (The Heritage Foundation, 2019). From table 2 and 3, as most of the populations are at the age range of 25-54 years old, both are categories in first-generation and second generation. Besides, there are some portion from the respondents are from East Asia country and it counted for eight persons (13,1%). cup of Tealive drink. difference in cultural dimensions is a concern for foreign companies. Loob holding sdn bhd annual report. Tealive to expand 1,000 outlets by 2024 tealive Thursday, April 28th, 2022 at Business | News by SHAFFIQUL ALIFF Tealive is expected to expand its business by opening 1,000 outlets by 2024 backed by the strengthening of the brand and a strong level of customer loyalty. . Hester Lai - Event Support Intern - Ottawa Art Gallery | Galerie d'art 2019. 2020 Yum! Brands Annual Report TeaLive Company Profile | Management and Employees List - Datanyze Based on a research by Hamilton (2014) stated that decision making of a consumer could be affected by psychological distance which includes spatial distance. - Instant Tealive Club membership upon signing up LOYALTY REWARDS - Monthly challenges to earn points - More exciting & exclusive in-app promotions. Tealive Study - assignment - Contents - Studocu Our history can be traced back to October 2010 when we opened our first bubble tea outlet in Malaysia. https://www.pewresearch.org/fact-tank/2013/12/06/chart-of-the-week-how-south-africa-changed-and-didnt-over-mandelas-lifetime/, Export.gov. ISBN 978-1-5286-2922-5 HC 1090 2021-22 PDF 999 MB 180 pages. Tealive: Tealive launches new concept store, maiden collaboration with Nestle. countries in the world, is one of the most unequal countries in the world, and high inequality Having started as a franchise of Chatime, Tealive has now grown in its business. 2019 Index of Economic Freedom in South Africa. Annual Report | Library | Bridgestone In Vietnam, Tealive partnered up with Kinh Do Corporation, a food and beverage conglomerate. Due to the limited level of income, consumers in South Africa have tight budgets, hence, the A memorandum of incorporation must be in or be translated into one of the official languages of South Africa (English is the most common). Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Request Sample. development levy, Stamp duty, Customs and excise duties and so on, which is an aspect for Bhd. Retrieved from. Many competitive companies have settled in South Africa, such as Anglo American, Shoprite Holdings, MTN group, Checkers and so on. 5 Things You Didn't Know About Tealive, Malaysians - KL Foodie Quality research institution and Developed financial market. Tealive Study - assignment assignment University International University of Malaya-Wales Course International Business Academic year2021/2022 Helpful? For example, Tealive offers 2 drinks with discounted price, compared Updated on. CFPB Publishes New Findings on Financial Profiles of Buy Now, Pay Later Companies entering the South African market must compete with mature and competitive European and Chinese markets. 2013. PDF BUKIT BINTANG CITY CENTRE, KUALA LUMPUR - EcoWorld When the first market entry succeeds and the sales goes up, Tealive then can consider to make a manufacturing factory to supply all of the raw materials needed for each outlets. KFC Financials | Craft.co For example, the Financial Services Board is responsible for overseeing the non-banking sector and financial markets. Before Tealive born, initially Chatime was the brand that brought into Malaysia continued growth in the next few year, although that is the stiff competition in the market. It With brand recognition on the rise Tealive can expect to increase its current revenue and even add to it by opening more outlets. MALAYSIA Car Magazine Majalah kereta - Latest in kereta dot info Malaysia. Retrieved from, https://thesmartlocal.com/malaysia/affordable-bubble-tea/ Cho, J. Pin On Prn Johor 2022 Lesen memandu semudah 123. Tealive, owned by F&B group, Loob Holding Sdn Bhd, was born following a messy corporate divorce with La Kaffa International Co Ltd after the latter ended its Chatime franchise agreement with Loob Holding. middle class in South Africa has increased a lot, the gap between the rich and the poor is still According to World Bank data, South Africa's Gini score is nearly 65, surpassing many investment into all areas of the South African economy, which is conducive to the entry of The group has also expanded to China with a plan to set up 10 corporate stores to test its business model before exploring franchise outlet opportunities. Di satu sisi lain ada pula golongan yang cuba mengekalkan rupa MDM asal Malaysian Domestic Mode. 603 Comments Please sign inor registerto post comments. 2. The, business had managed to take off and was ready for the second outlet in just six months since, its first operating outlet and the number of bubble tea orders had risen from 100 cups per day, to 300 cups daily. South Africas median age is considered low, 26.6 years old, while their mean age is 24.4 years (Worldometers, 2019). Tealive have a strong team management. That means all new joint venture companies must comply with the provisions of the Companies Act and have a memorandum of incorporation. . . . .. .. . .. .. . .. .. . .. . KFC competitors and the way how they overcoming the challenges, Chapter 1 : An Overview of International Business MCQ, soalan yang lepas untuk pelajar guna dan belajar, Chapter 1 International Business Testbank, Latihan Kendiri Bahasa kEBANGSAAN tengoklah sendiri, MAD Tugasan Problem Based Task 1 yang dihasilkan oleh pelajar, Public sector analysis accounting accounting, Background of Tealive..2, Purpose of the proposal.3, Market Analysis..4, Market Segmentation.4, Geographic4, Demographic..4, Psychographic.6, Legal factors..11, Marketing Mix..17, Questionnaire result analysis.19, Interview result analysis..25, Market entry strategy.28, References.31, https://www.worldofbuzz.com/the-first-standalone-Tealive-drive-thru-is-now-open-and-, https://africacheck.org/factsheets/factsheet-measuring-south-africas-black-middle-class/, https://www.awanireview.com/articles/2019/07/13/news/Tealive-brewing-beyond-the-, http://www.focusmalaysia.my/Enterprise/Tealive-moves-into-asean-market, https://www.bbc.com/news/world-africa-48023890, https://businesstech.co.za/news/wealth/202172/south-africas-middle-class-is-smaller-, https://www.cfr.org/blog/rich-people-and-wealth-africa, https://www.ceicdata.com/en/indicator/south-africa/foreign-direct-investment, https://thesmartlocal.com/malaysia/affordable-bubble-tea/, https://www.pewresearch.org/fact-tank/2013/12/06/chart-of-the-week-how-south-, africa-changed-and-didnt-over-mandelas-lifetime/, https://www.businessinsider.my/people-in-singapore-malaysia-and-indonesia-order-3-, cups-of-bubble-tea-per-month-grabfood-says/, https://www.channelnewsasia.com/news/asia/boom-or-bust-malaysia-bubble-tea-, https://medium.com/@nikitamanwar1248/bubble-tea-market-key-players-analysis-size-, growth-trends-and-forecast-up-to-2025-2dbee1be2f8c, http://generationt.asia/leaders/from-chatime-to-Tealive-bryan-loo-bounces-back-in-6-, https://www.numbeo.com/cost-of-living/country_result.jsp?country=South+Africa, ttp://www.oecdbetterlifeindex.org/countries/south-africa/, https://santandertrade.com/en/portal/analyse-markets/south-africa/reaching-the-, https://tradingeconomics.com/south-africa/gdp, https://themalaysianreserve.com/2019/09/03/loob-holding-opens-50th-petronas-, https://www.timeslive.co.za/news/south-africa/2019-05-28-here-are-the-drinks-south-, https://www.capetownmagazine.com/whats-the-deal-with/the-rise-of-coffee-culture-in-, https://www.thestar.com.my/business/business-news/2018/06/12/loob-holdings-forms, https://www.thevocket.com/8-air-Tealive-yang-perlu-anda-cuba-seperti-yang-, https://vulcanpost.com/627681/Tealive-strategy-expansion-international/, https://www.worldometers.info/world-population/south-africa-population/, Swinburne University of Technology Malaysia, introduction to partnership & company law (LAW 346), Sun Zi's Art of War and Business Strategies, Intermediate Financial Accounting and Reporting (ACC 406), Islamic and South-East Asian Civilization 1 (CTU551), Introduction to Economics of Agricultural Production (AGR113), Human Resource Management / Pengurusan Sumber Manusia (KMS1024), sejarah perkembangan bahasa melayu (BMMB1074), Partnership and Company Law I (UUUK 3053), Partnership and Company Law II (UUUK 3063), Business Organisation & Management (BBDM1023), Peranan Agama Dalam Memupuk Hubungan Etnik, Change Mgt Report - The assignment focuses on how AirAsia, a Malaysian airlines company, can implement, Assignment ekonomi AE025 ( ULASAN ARTIKEL), Posisi Malaysia Berdasarkan Perkembangan dan Keruntuhan Tamadun Example 2, PT3 English Paper 2 PART 1 Contoh Contoh Similar, CARA Menjaga Jasmani - the notes about hoe you can keep you body healthy, Modul-karangan-respons-terhad-spm-2021 compress, Kesan Positif DAN Negatif Penggunaan Internet Dalam Kalangan Pelajar, Accounting Business Reporting for Decision Making, 1 - Business Administration Joint venture. Source: worldometer, SA is a country with 58 million people consisting of different race groups and speaking 11 Nowadays, Koi has 46 branches globally including . Instead, they should start small by penetrating in Gauteng, or Western Cape Province, as they have the largest housing expenditure in South Africa, hence it is assumed that the people there have the purchasing power to afford the drink. rather than in the center. demands on the bubble tea. Meanwhile, 14 of them are below 18 years old, 3 of them are 25-34 years old and 1 of them is within 35-44 years old. South Africa has high private universities in kano and their fees / harlem globetrotters 1978 / tealive financial report. Support - Tealive The South African government estimates that 80% of the population is Respondent D said that it is possible because Tealive have the resources to do it. If foreign companies want to hire South African Translated the stakeholder's and chairman's vision through effective marketing communication and campaigns. As a new business there, it is essential to get the product known by the When Tealive expands to South Africa, they can have some modifications to the taste of Tealive, to adapt with the local needs. Employees <10. Figure 2 South Africa population. From Figure 10, reasonable price is the primary factor that attracted the consumers to buy Tealive products (70.5%). Retrieved from, https://uk.practicallaw.thomsonreuters.com/2-617, 3588?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1, https://www.businessinsider.my/people-in-singapore-malaysia-and-indonesia-order-3-cups-of-bubble-tea-per-month-grabfood-says/ Genevleve Chia, R. (2019). Bhd.'s net profit margin increased by 1.26% in 2021. However, South Africa legally supports foreign direct investment into all areas of the South African economy, which is conducive to the entry of foreign companies, but in some areas foreign shareholders are restricted, such as telecommunications, banking and so on. The existence of corrupt officials may make it difficult for companies to set up, and they may even limit the development of foreign companies in order to protect their own interests. Tealive now has over 700 outlets across three continents serving over five million consumers per month. The group has also expanded to China with a plan to set up 10 corporate stores to test its business model before exploring franchise outlet opportunities. annually awards up to two ASSAF Science-for-Society Gold Medals for outstanding Out of 61 responses, 37 people had never tried Coolblogs before. Among the other brands, Tealive had the most percentage in the category of most frequent. Tealive products (70%). Loob Holding Sdn Bhd the brand owner of Tealive has launched Tealive Plus a new concept store at Pavilion Kuala Lumpur. CBI websites generally use certain cookies to enable better interactions with our sites and services. Loob Holding - Headquarters Locations, Products, Competitors Respondent B said that she used to be a loyal customer of Tealive, but she has changed her brand loyalty to one of the Tealives competitors, Xing Fu Tang. Public Health Englands PHE annual report and accounts for the financial year 2020 to 2021 laid before Parliament on 31 January 2022. . 2019. Hofstede dimension is the preferable measurement to be used in this phenomena and the Annual Report 2014 Only a total of 10% were spent on tea and fruit juice (Timeslive, 2019). Therefore, indigenous prefer to spend their time on work more than Tealive This shows that the beverage price that Check out our revamped features: MORE CONVENIENT - Smoother self pick-up & delivery services - In-app wallet for quicker transactions EXCLUSIVE TREATS - FREE birthday drinks In general, the environmental risk of doing business in South Africa is small. Price.. 2.5. 322K followers. outcome is one of the application can be using on business communication or operation.