Author: roymorgansocial

Viva Energy mulls real estate trust spin-off

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 19-Aug-15

Viva Energy intends to spend $A1 billion on investments. Viva CEO Scott Wyatt said on 18 August 2015 that the company will consider the creation of a real estate trust which would hold about 420 properties. Proceeds from the float would be channelled into the Geelong refinery, the supply chain and the marketing business.

CORPORATES
VIVA AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BANK OF AMERICA MERRILL LYNCH, CALTEX AUSTRALIA LIMITED – ASX CTX, COLES EXPRESS, VITOL SA, ABU DHABI INVESTMENT COUNCIL, DEUTSCHE BANK AG

Liberals play to strengths with army candidate

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 5 : 18-Aug-15

The 19 September 2015 by-election in the federal electorate of Canning in Western Australia will be a referendum on Prime Minister Tony Abbott’s performance, the Australian Labor Party says. It is regarded as a safe Liberal seat but a swing against the government is expected. Captain Andrew Hastie, an Afghanistan war veteran, has been selected to represent the Liberals in the by-election triggered by the death of Don Randall.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, SPECIAL AIR SERVICE REGIMENT, UNIVERSITY OF NEW SOUTH WALES, EDITH COWAN UNIVERSITY, LAW SOCIETY OF WESTERN AUSTRALIA, PALMER UNITED PARTY

Uber and Airbnb to face grilling over tax practices

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Original article by Fleur Anderson
The Australian Financial Review – Page: 7 : 18-Aug-15

The Senate committee on corporate tax avoidance has turned its attention to Uber and Airbnb, its chairman claiming tens of millions of dollars might be lost to the government if it failed to establish proper tax settings for sharing economy companies. Senator Sam Dastyari said he did not want Uber and similar companies setting a precedent in which they avoided Australian tax by sending profits offshore.

CORPORATES
UBER GLOBAL PTY LTD, AIRBNB AUSTRALIA PTY LTD, AUSTRALIA. SENATE ECONOMICS LEGISLATION COMMITEE, IBISWORLD PTY LTD, AUSTRALIAN TAXATION OFFICE, FEDERAL COURT OF AUSTRALIA, SANTOS LIMITED – ASX STO, CHEVRON CORPORATION, EXXONMOBIL CORPORATION, CALTEX AUSTRALIA LIMITED – ASX CTX, BP PLC, WOODSIDE PETROLEUM LIMITED – ASX WPL, ORIGIN ENERGY LIMITED – ASX ORG, VIVA ENERGY AUSTRALIA LIMITED, APPLE INCORPORATED, MICROSOFT CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, NOVARTIS AG, PFIZER INCORPORATED

Hooker glum on Melbourne, Sydney industrial yield

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 39 : 18-Aug-15

LJ Hooker expects a rise in prices for prime-grade industrial property in Sydney and Melbourne, due to strong interest from local and foreign investors. Yields are likely to fall below seven per cent. Over the 12 months to June 2015, industrial sales increased 56 per cent to $A5.3 billion. Sydney’s yields rose by 57 basis points to 7.2 per cent in the same period. In Melbourne, they declined 50 basis points to 7.2 per cent.

CORPORATES
LJ HOOKER (AUSTRALIA) PTY LTD, FRASERS CENTREPOINT LIMITED, AUSTRALAND PROPERTY GROUP, MAPLETREE INVESTMENTS PTE LTD, ASCENDAS PTE LTD, GOODMAN GROUP – ASX GMG

Aussie dollar steadies amid fears of limited future gains

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 28 : 18-Aug-15

The Australian dollar was trading at $US0.7374 in late trade on 17 August 2015. UBS economist George Tharenou expects the local currency to continue to be under pressure due to weak commodity prices. He says the Australian dollar is likely to decline to $US0.70 by the end of 2015.

CORPORATES
UBS HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, OZFOREX GROUP LIMITED – ASX OFX, GOLDMAN SACHS AUSTRALIA PTY LTD

Heydon gives unions four days

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Original article by Ewin Hannan, Phillip Coorey, Lucille Keen
The Australian Financial Review – Page: 1 : 18-Aug-15

Prime Minister Tony Abbott has defended the integrity of Justice Dyson Heydon, head of the Royal Commission into Trade Union Governance & Corruption, who is at the centre of a political brawl for agreeing to speak at a Liberal Party dinner. Abbott accused the Australian Labor Party and the trade unions of trying to smear the former High Court judge to distract attention from the findings of the royal commission. Justice Heydon has said he overlooked the Liberal Party link with the dinner when agreeing to be guest speaker.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, OXFORD UNIVERSITY, THE RHODES TRUST, UNIVERSITY OF SYDNEY

Pilbara worries cloud Aurizon dividend boost

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 : 18-Aug-15

Aurizon has reported a 15 per cent rise in underlying net profit after tax to $A604 million. The Australian-listed rail group informed investors on 17 August 2015 that its dividend payout ratio would rise to 70 to 100 per cent of underlying net profits after tax, from 60 to 70 per cent. Coal volumes are expected to remain unchanged between 210 million and 220 million tonnes in 2016 while iron ore volumes are forecast to decline to 24 million tonnes in 2016.

CORPORATES
AURIZON HOLDINGS LIMITED – ASX AZJ, PERPETUAL LIMITED – ASX PPT, GVK POWER AND INFRASTRUCTURE LIMITED

Fortescue price hopes still too high for Chinese suitors

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Original article by Amanda Saunders
The Australian Financial Review – Page: 20 : 18-Aug-15

Chinese companies Hebei Iron & Steel and the Tewoo Group are believed to be interested in acquiring stakes in Fortescue Metals Group. Fortescue is under pressure to sell some assets to improve its balance sheet although there is no immediate need to do so. The company is expected to announce $US390 million ($A527 million) in profit for 2014-15, compared with profit of $US2.65 billion in 2013-14.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, HEBEI JINXI IRON AND STEEL COMPANY LIMITED, TEWOO GROUP, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, UBS HOLDINGS PTY LTD

Offices go big on smaller tenants, says Colliers

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 38 : 18-Aug-15

Businesses are increasingly looking for smaller offices. The proliferation of start-ups and technology firms has led to more demand for office space in tenancies of less than 500 sq m. Colliers International states in its report on Australia’s CBD office market that the proportion of these tenancies has grown to 83 per cent of all tenancies, from 71 per cent in 2009.

CORPORATES
COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED

NAB puts 40 postcodes on credit watch

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Original article by James Eyers
The Australian Financial Review – Page: 8 : 18-Aug-15

National Australia Bank has identified 40 postcodes where loan applications are scrutinised more thoroughly because of higher risk of default. David Gall, chief risk officer of National Australia Bank, says rising interest rates and unemployment have made certain localities more vulnerable to economic stress. According to Digital Finance Analytics, risky localities include Kambah in Canberra, Grasstree Hill and Honeywood in South Tasmania, and Leigh Creek and Lyndhurst in South Australia.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DIGITAL FINANCE ANALYTICS