E30 Building Construction

Stockland: housing strength to continue

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Original article by Robert Harley
The Australian Financial Review – Page: 40 : 28-Oct-15

Some 97 per cent of votes cast at Stockland’s 2015 AGM were in favour of the property developer’s remuneration report. Chairman Graham Bradley told shareholders that Stockland will now require directors to hold 40,000 of the group’s securities, up from 10,000 previously. He also forecast that Australia’s housing market will remain strong, citing factors such as an undersupply, low interest rates and population growth.

CORPORATES
STOCKLAND – ASX SGP, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Grocon to build first major Sydney apartment project in 15 years

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 41 : 17-Sep-15

Grocon has acquired a residential development site in the Sydney suburb of Epping for $A56.5 million. The property developer plans a high-density apartment development for the site at 30-42 Oxford Street, comprising 250 apartments. The site is located close to the Macquarie Centre.

CORPORATES
GROCON PTY LTD, JONES LANG LASALLE INCORPORATED

Kane rages at sideshow to ban

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

Boral CEO Mike Kane says the Royal Commission into Trade Union Governance & Corruption is "absolutely necessary" for the recovery of an efficient construction market in Australia. Claiming the campaign against the royal commission’s head, Justice Dyson Heydon, was an unneccessary distraction, Kane say union officials operate outside the law. Boral has not delivered concrete in the Melbourne CBD for more than two years because of bans imposed by the Construction, Forestry, Mining & Energy Union, which Boral is suing in the Victorian Supreme Court.

CORPORATES
BORAL LIMITED – ASX BLD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, SUPREME COURT OF VICTORIA, GROCON PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ORICA LIMITED – ASX ORI, BHP BILLITON LIMITED – ASX BHP

Devine extends debt facility as profit climbs

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Original article by Matthew Cranston
The Australian Financial Review – Page: 40 : 13-Aug-15

Devine has announced a first-half net profit of $A900,000 after major shareholder CIMIC earlier rejected offers from potential buyers for the listed residential property developer. It has extended its debt facility with the ANZ Banking Group for another year. The company has started apartment and mixed-use projects in a joint venture with Japanese developer Daikyo, including the Mode development in Brisbane.

CORPORATES
DEVINE LIMITED – ASX DVN, CIMIC GROUP LIMITED – ASX CIM, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DAIKYO INCORPORATED, HUNTER GREEN INSTITUTIONAL BROKING PTY LTD

Housing glut by 2018, BIS report warns

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Original article by Michael Bleby
The Australian Financial Review – Page: 4 : 20-Jul-15

A BIS Shrapnel report forecasts an oversupply of at least 12,000 dwellings in Australia by 2018. The firm expects just 164,000 new homes to be built in 2018, compared with an estimated 210,000 in 2014-15. However, demand for housing in New South Wales will continue to exceed supply in coming years, while there will be an oversupply of apartments in Victoria and houses in Western Australia.

CORPORATES
BIS SHRAPNEL PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Housing starts top 200,000 for first time

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Original article by Michael Bleby
The Australian Financial Review – Page: 48 : 16-Jul-15

The Australian Bureau of Statistics has reported that there were a record 203,760 dwelling commencements in the year to March 2015. This compares with 198,849 in the year to December 2014. Housing starts in Victoria and Queensland rose by around 20 per cent during the March quarter, although growth in New South Wales was just 1.9 per cent. The value of construction activity across all sectors of the industry totalled $A23.7 billion during the quarter.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, MASTER BUILDERS AUSTRALIA INCORPORATED, HOUSING INDUSTRY ASSOCIATION LIMITED

China FTA raises fears for building products

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Original article by Michael Bleby
The Australian Financial Review – Page: 45 : 18-Jun-15

The Housing Industry Association (HIA) is concerned that unsafe building products will flow into Australia under the free trade agreement with China. The HIA’s Kristin Brookfield says there is no appropriate checking framework for imported building materials. The expected increase in imports under the free trade agreement will raise safety risks unless controls are put in place. An Australian Industry Group survey in 2013 found high levels of non-conforming imported building products.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED. AUSTRALIAN COMPETITION AND CONSUMER COMMISSION. RIDER LEVETT BUCKNALL PTY LTD. VICTORIAN BUILDING AUTHORITY. AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE

Young Rich lister seeks IPO success

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Original article by John Stensholt
The Australian Financial Review – Page: 41 : 17-Jun-15

Metro Property Development is undertaking a $A170m institutional bookbuild as it prepares to debut on the Australian sharemarket in July 2015. The personal wealth of CEO Luke Hartman was estimated at $A92m in the 2014 edition of the BRW Young Rich List. Hartman will be seeking to emulate the success of other recent IPOs of companies headed by members of the exclusive list, including SurfStitch, Aconex and Rewardle.

CORPORATES
METRO PROPERTY DEVELOPMENT PTY LTD, SURFSTITCH GROUP LIMITED – ASX SRF, ACONEX LIMITED – ASX ACX, REWARDLE HOLDINGS LIMITED – ASX RXH, VOCATION LIMITED – ASX VET, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX

Done deal: Metro sets float date

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 15-Jun-15

Metro Property Development is offering its shares to retail and institutional investors at $A2.25 apiece in an IPO that will raise about $A170m. The residential property developer will have a larger market capitalisation than listed rivals such as Sunland Group and Finbar when it debuts on the Australian sharemarket on 13 July 2015. Metro’s founders will retain a 46 per cent stake in the group.

CORPORATES
METRO PROPERTY DEVELOPMENT PTY LTD, MOELIS AND COMPANY, MORGANS FINANCIAL LIMITED, SUNLAND GROUP (VIC) NO 2 PTY LTD, FINBAR GROUP LIMITED – ASX FRI, VILLA WORLD LIMITED – ASX VLW, CEDAR WOODS PROPERTIES LIMITED – ASX CWP

Lend Lease switches brolly for fold logo

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Original article by Robert Harley
The Australian Financial Review – Page: 39 : 27-May-15

Australian-listed Lend Lease Group will undertake a corporate makeover, rebranding itself as Lendlease and replacing its long-standing canopy logo. CEO Steve McCann describes the group’s new "fold" logo as "fluid and flexible". Lend Lease will gradually introduce the new branding over a two-year period.

CORPORATES
LEND LEASE GROUP LIMITED – ASX LLC, STW COMMUNICATIONS GROUP LIMITED – ASX SGN, HOUSTON