Author: roymorgansocial

Banks’ commercial exposure rises

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Original article by Matthew Cranston
The Australian Financial Review – Page: 38 : 1-Jun-15

The total value of Australia’s four largest banks’ commercial property portfolios increased by 6.5 per cent to $A202.3bn in the year to March 2015. This includes some $A70.3bn worth of office properties. The Reserve Bank’s latest Financial Stability Review highlighted the potential risk of revaluations in the sector, although Brian Johnson of CLSA argues that the banks’ exposure to commercial property development is the main factor to consider.

CORPORATES
RESERVE BANK OF AUSTRALIA, CLSA AUSTRALIA PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Macquarie, Domino’s top in M&A value

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 23 : 29-May-15

Intralinks and the Cass Business School have released a report which examined more than 265,000 mergers and acquisitions deals globally over two decades. Some 82 of the companies that were regarded as being excellent corporate portfolio managers are based in Australia. They include Macquarie Group, Domino’s Pizza Enterprises, M2 Group, Challenger and the ANZ Bank.

CORPORATES
INTRALINKS INCORPORATED, CASS BUSINESS SCHOOL, CITY UNIVERSITY, LONDON, MACQUARIE GROUP LIMITED – ASX MQG, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, M2 GROUP LIMITED – ASX MTU, CHALLENGER LIMITED – ASX CGF, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, RETAIL FOOD GROUP LIMITED – ASX RFG, SILVER LAKE RESOURCES LIMITED – ASX SLR, DOMINO’S PIZZA JAPAN INCORPORATED, TERRA FIRMA CAPITAL PARTNERS LIMITED, DELAWARE INVESTMENTS, FOX-PITT KELTON COCHRAN CARONIA WALLER LLC

You call that a house price boom?

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Original article by Robert Harley
The Australian Financial Review – Page: 3 : 29-May-15

Data from Corelogic shows that there has been a 38.8 per cent increase in Sydney house prices since May 2012. However, the firm notes that residential property values in the harbour city rose by 60.2 per cent during the property boom of 2001 to 2004. Likewise, house prices in Melbourne have risen by 23.6 per cent during the current boom, well shy of the 58 per cent growth between 2001 and 2004.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

Advisers share power spoils

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Original article by Will Glasgow
The Australian Financial Review – Page: 3 : 29-May-15

The New South Wales Government has released details of the fees that will be paid to advisers on its proposed sale of the state’s electricity network. Law firm Allens is set to gain a $A28m windfall from the deal, while accounting firm Ernst & Young will be paid $A24.5m. Other companies that will advise the Government on the sale include Deutsche Bank, UBS, WorleyParsons, Newgate Communications and Ansarada.

CORPORATES
ALLENS, ERNST AND YOUNG, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, WORLEYPARSONS LIMITED – ASX WOR, NEWGATE COMMUNICATIONS PTY LTD, ANSARADA PTY LTD, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), TRANSGRID, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED

AGL, New Hope to take hit from Norway divestment

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Original article by Ben Potter
The Australian Financial Review – Page: 23 : 29-May-15

Norway’s Government Pension Fund Global exited the share register of Whitehaven Coal in 2014, following a government directive to terminate its exposure to the coal sector. The Norwegian Government now wants the sovereign wealth fund to divest shares in electricity companies that have a high exposure to coal-fired generation and mining companies whose revenues are heavily weighted toward thermal coal. This could force it to offload shares in AGL Energy and New Hope Corporation.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, NEW HOPE CORPORATION LIMITED – ASX NHC, WHITEHAVEN COAL LIMITED – ASX WHC, GOVERNMENT PENSION FUND GLOBAL (NORWAY), BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SOUTH32 LIMITED – ASX S32, MACQUARIE GENERATION, LOY YANG A, YANCOAL AUSTRALIA LIMITED – ASX YAL, COKAL LIMITED – ASX CKA, COCKATOO COAL LIMITED – ASX COK, AXA SA, OXFORD UNIVERSITY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

Gina drops a lazy $6 billion, but she’s still atop the pile as our richest person

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 6 : 29-May-15

The personal wealth of iron ore magnate Gina Rinehart is estimated to be $A14.02bn in the latest "BRW" Rich List. Her wealth has fallen by $A5.99bn since 2014, but she remains the wealthiest individual in Australia. Visy Industries’ Anthony Pratt and Meriton’s Harry Triguboff round out the top three, with estimated wealth of $A10.76bn and $A10.23bn respectively. The 2015 Rich List features 49 billionaires, compared with 39 in 2014.

CORPORATES
VISY INDUSTRIES AUSTRALIA PTY LTD, MERITON APARTMENTS PTY LTD, PRATT INDUSTRIES (USA) INCORPORATED, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, LOWY FAMILY GROUP, SHIMAO PROPERTY HOLDINGS LIMITED, UNIVERSITY OF SOUTH AUSTRALIA, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, CROWN RESORTS LIMITED – ASX CWN, FORTESCUE METALS GROUP LIMITED – ASX FMG

ASIC seeks lifetime ban for company director

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Original article by Sarah Danckert
The Australian Financial Review – Page: 20 : 29-May-15

The Australian Securities & Investments Commission (ASIC) believes that Bill Lewski’s 15-year ban on serving as a company director is insufficient. It wants the founder of Prime Trust to be permanently banned from holding such positions, while it has argued in the Full Federal Court that a $A230,000 fine for breaching his duties as a director is also inadequate. ASIC is seeking higher fines for several other Prime directors.

CORPORATES
PRIME RETIREMENT AND AGED CARE PROPERTY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA, PLACES VICTORIA

Blackley to work on keeping Ten

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Original article by Dominic White
The Australian Financial Review – Page: 16 : 29-May-15

Former Ten Network CEO Grant Blackley will become CEO of Southern Cross Media Group on 29 June 2015. He has indicated that the regional broadcaster will seek to negotiation a new affiliation agreement with Ten as quickly as possible, but has not ruled out ending the alliance. Blackley will receive a base salary of $A1.05m at Southern Cross, plus an incentives package.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, APN NEWS AND MEDIA LIMITED – ASX APN, 2DAY FM AUSTRALIA PTY LTD, KIIS1065, WIN CORPORATION PTY LTD, KEYSTONE GROUP PTY LTD, FOUR SEASONS MEDIA PTY LTD

ANZ-Roy Morgan Singapore Consumer Confidence Rose in May

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-May-15

The monthly ANZ-Roy Morgan Singapore Consumer Confidence Index rose by four points to 129.7 in May 2015. Consumer confidence is now clearly above its long-term average of 122.2. The rise was driven by greater confidence across all components of the survey. The number of respondents who said their family is "better off" financially compared with a year ago has risen by two per cent to 31 per cent. Meanwhile, the number of respondents who expect Singapore to have "good times" financially over the next 12 months has risen by two per cent to 51 per cent.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ROY MORGAN RESEARCH LIMITED

New Greens leader may agree to raise petrol tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 10 : 29-May-15

Australian Greens leader Richard Di Natale has indicated that the party is willing to reach a compromise with the Federal Government on issues such as fuel excise and pension reforms. He says the Greens are open to an increase in the fuel excise, provided some of the additional revenue is used to finance public transport projects. Di Natale also says the Greens will support pension reforms if the Government agrees to undertake a previously shelved review of retirement income.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA