Author: roymorgansocial

Time ripe for buybacks: analyst

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 25 : 25-May-16

Analysis by Credit Suisse shows that S&P/ASX 200 companies that have undertaken share buybacks have achieved an annual return of 9.3 per cent since 2002. In contrast, companies that have not repurchased shares have delivered a return of negative 1.9 per cent over this period. Hasan Tevfik of Credit Suisse argues that more listed companies should capitalise on the low cost debt to undertake buybacks or mergers and acquisitions. He adds that the falling cost of debt in China is likely to prompt more Chinese companies to pursue acquisitions in Australia.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, STANDARD AND POOR’S ASX 200 INDEX, QANTAS AIRWAYS LIMITED – ASX QAN, CSR LIMITED – ASX CSR, JAMES HARDIE INDUSTRIES PLC – ASX JHX, BELL POTTER SECURITIES LIMITED, CSL LIMITED – ASX CSL

State of the Nation: New Zealand – media, technology and wanting it all ‘on demand’

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-May-16

Roy Morgan Research CEO Michele Levine has presented the latest New Zealand State of the Nation in Auckland, with a special Spotlight on Media, Technology and the rise of ‘On Demand’. Amongst other things, the report shows that 76 per cent of New Zealanders now have a smartphone, while 40 per cent of smartphone owners say they ‘can’t live without’ their mobile phone. Meanwhile, 83 per cent of New Zealanders access one or more types of content ‘on demand’, including news websites, streaming video or audio, and the catch-up sites of TV networks. Some 24 per cent of New Zealanders have access to at least one subscription video-on-demand service.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NETFLIX INCORPORATED, LIGHTBOX, NEON, SPARK NEW ZEALAND LIMITED – ASX SPK, SKY NETWORK TELEVISION LIMITED – ASX SKT, YOUTUBE INCORPORATED

Developers risk $100k loss on each apartment: report

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 37 : 24-May-16

Secret Agent director Paul Osborne notes that there is growing concern among apartment developers that some buyers will default prior to settlement. He says this has been prompted by moves by the banks to restrict lending to offshore property investors. Secret Agent, a buyers’ advocate firm, estimates that an off-the-plan developer could lose more than $A100,000 on a two-bedroom apartment in Melbourne if the buyer defaults.

CORPORATES
SECRET AGENT PROPERTY SERVICES, MACQUARIE BANK LIMITED – ASX MBL, CBRE PTY LTD, OLIVER HUME REAL ESTATE GROUP PTY LTD, CORELOGIC AUSTRALIA PTY LTD

Party’s all but over for Palmer

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Original article by Rosie Lewis, Sarah Elks
The Australian – Page: 6 : 24-May-16

Businessman and federal MP Clive Palmer has advised that he will not recontest the seat of Fairfax in the 2016 election. Palmer has also indicated that he will not seek a seat in the upper house. Zhenya Wang is currently the Palmer United Party’s only representative in the Senate. Palmer’s nephew, Martin Brewster, will be the party’s sole candidate for the lower house. He will contest the seat of Herbert, in which Palmer’s failed Queensland Nickel is based. The company was wound up in April.

CORPORATES
PALMER UNITED PARTY, QUEENSLAND NICKEL PTY LTD, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Good Guys sees earnings surge if IPO proceeds

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 24-May-16

Consumer electronics retailer The Good Guys has appointed three lead managers to handle a potential IPO, which is expected to raise up to $A900m. However, chairman Andrew Muir is retaining options such as a trade sale. The Good Guys boasts 100 stores, and Muir aims to complete the purchase of 56 joint venture stores by the end of 2015-16. The group has forecast pro forma EBITDA of $A85m for the financial year.

CORPORATES
THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, JJB SPORTS, STEINHOFF INTERNATIONAL HOLDINGS LIMITED, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, BAIN CAPITAL LLC, TPG CAPITAL LP, KKR AND COMPANY LP

National and Labour vote up in May but NZ First still holds the balance of power position despite vote falling

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 23-May-16

A New Zealand Roy Morgan Poll on voting intention has found that support for the ruling National Party has risen by three per cent to 45.5 per cent in May 2016. The poll also shows that support for a potential Labour/Greens alliance has risen by one per cent to 41.5 per cent, while the NZ Roy Morgan Government Confidence Rating has risen by three points to 130 points. Roy Morgan Research executive chairman Gary Morgan notes that despite support for New Zealand First falling by three per cent to 9.5 per cent (down from a 20-year high in April), support is still above what the party achieved at the 2014 election, and means it would still have the balance of power were an election held now.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, NEW ZEALAND FIRST PARTY, CONSERVATIVE PARTY OF NEW ZEALAND, THE MAORI PARTY, ACT NEW ZEALAND, INTERNET PARTY, MANA PARTY

Victoria unlikely to lift ban on coal seam gas

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Original article by Lucille Keen
The Australian Financial Review – Page: 7 : 24-May-16

The Victorian Government has announced a ministerial reshuffle, with Wade Noonan replacing Lily D’Ambrosio in the resources portfolio. Australian Petroleum Production & Exploration Association CEO Malcolm Roberts has urged Noonan to end the state’s moratorium on coal seam gas exploration. D’Ambrosio will take on the energy, environment and climate change portfolios, which has prompted the Opposition to express concern about a potential conflict of interests.

CORPORATES
VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, TRANSPORT WORKERS’ UNION, THE AUSTRALIAN INDUSTRY GROUP, VICTORIA. DEPT OF PREMIER AND CABINET

Shorten backs WA Metronet

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Original article by Tess Ingram, Julie-anne Sprague
The Australian Financial Review – Page: 5 : 24-May-16

Opposition Leader Bill Shorten has promised to provide $A1bn worth of funding for the Metronet rail project in Western Australia if the Australian Labor Party wins the 2016 federal election. Shorten intends to utilise funding that was previously allocated to the state’s Perth Freight Link road project. State Opposition Leader Mark McGowan intends to proceed with the Metronet project if his party wins the state election in March 2017.

CORPORATES
AUSTRALIAN LABOR PARTY, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CURTIN UNIVERSITY OF TECHNOLOGY, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF FINANCE

Arrium and its steelworks to go on block in late July

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Original article by Simon Evans
The Australian Financial Review – Page: 8 : 24-May-16

KordaMentha has indicated that a number of Australian and offshore groups have expressed interest in buying the assets of Arrium. KordaMentha, which was appointed as administrator of the failed steel producer and iron ore miner in mid-April 2016, will commence the formal sale process in July, with expectations that it will be completed by the end of the year.

CORPORATES
ARRIUM LIMITED – ASX ARI, KORDA MENTHA AND COLLEAGUES PTY LTD, MOLY-COP, ARGAND PARTNERS LLC, CERBERUS CAPITAL MANAGEMENT LP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, GRANT THORNTON AUSTRALIA

Oil Search bid set for success

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Original article by Matt Chambers
The Australian – Page: 22 : 24-May-16

Papua New Guinea Prime Minister Peter O’Neill says people in his nation will directly benefit from the takeover bid for InterOil by Australian-listed Oil Search. The $US2.2bn bid comprises 8.05 of Oil Search’s shares for each InterOil share, which values the bid at $US40.25 per share. InterOil shares have risen by 38 per cent to $US43.63 in response to the bid. Oil Search intends to on-sell part of InterOil’s stake in the Papua LNG project to Total if the bid succeeds.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, INTEROIL CORPORATION, TOTAL SA, PAPUA NEW GUINEA. OFFICE OF THE PRIME MINISTER, EXXONMOBIL CORPORATION, RAYMOND JAMES AND ASSOCIATES