I52 Transport Support Services

Japan Post takes axe to Toll jobs

roymorgansocial Leave a comment

Original article by Damon Kitney
The Australian – Page: 17 & 26 : 27-Apr-17

Toll Holdings has shed about 300 jobs at its head office so far in 2017, and the transport and logistics group has revealed plans to axe an additional 1,700 positions over the next year. Toll’s Australian division, which employs about 25,000 people, is expected to bear the brunt of the job cuts. Toll will implement a restructuring program after parent company Japan Post flagged a $US3.6bn ($A4.8bn) writedown of the business and advised that 2017 EBIT is likely to be well below expectations. Japan Post paid $A6.5bn for Toll in 2015.

CORPORATES
TOLL HOLDINGS LIMITED, JAPAN POST COMPANY LIMITED, ASCIANO LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, LINFOX PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, LION-DAIRY AND DRINKS PTY LTD

Low $A, ad push to spur tourist growth

roymorgansocial Leave a comment

Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 26-Aug-16

Deloitte Access Economics states in its tourism and hotel market outlook that the number of international visitors rose by 10 per cent in 2015. Meanwhile, visitor spending has increased by 17.9 per cent over the past five years. The firm forecasts an annual average growth of 6.2 per cent in international visitors over the next three years.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, TOURISM AUSTRALIA PTY LTD

Brambles heads to UK as Gorman exits

roymorgansocial Leave a comment

Original article by Damon Kitney, Richard Gluyas
The Australian – Page: 21 & 25 : 19-Aug-16

Australian-listed logistics group Brambles has posted a 2015-16 net profit of $US588m ($A725m), which is one per cent higher than previously. Its statutory profit was six per cent lower at $US557.4m due to writedowns and impairment charges totalling $US78.1m, but revenue rose by two per cent to $US5.54bn. Meanwhile, British executive Graham Chipchase will succeed CEO Tom Gorman in early 2017, and Brambles will relocate its head office to London.

CORPORATES
BRAMBLES LIMITED – ASX BXB, FORD MOTOR COMPANY AUSTRALIA LIMITED, REXAM HOLDINGS PTY LTD, BALL CORPORATION

Asciano to delist after FIRB clears $9b takeover

roymorgansocial Leave a comment

Original article by Jenny Wiggins
The Australian Financial Review – Page: 21 : 28-Jul-16

The $A9.05 billion takeover of Asciano by a Qube Holdings-led consortium is expected to be approved by the Supreme Court of New South Wales on 28 July 2016. It has already received approval from the Australian Competition & Consumer Commission and the Foreign Investment Review Board. The deal involves Qube and Brookfield Infrastructure Partners taking over Asciano’s Patrick container ports, while five international pension funds will assume the ownership of the Pacific National rail freight business.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN CONTAINER FREIGHT SERVICES PTY LTD, DP WORLD AUSTRALIA PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, MONADELPHOUS GROUP LIMITED – ASX MND, MUHIBBAH ENGINEERING BHD, PACIFIC NATIONAL PTY LTD, PATRICK CORPORATION LIMITED

Backpacker dip slows tourism growth

roymorgansocial Leave a comment

Original article by Lisa Allen
The Australian – Page: 21 : 2-Jun-16

New data shows that the number of Chinese tourists visiting Australia rose by 23 per cent in the year to March 2016, while there was five per cent growth in tourists from New Zealand. Meanwhile, inbound tourists spent a record $A38bn in Australia during the year, which is 16.6 per cent higher than previously. However, there was a sharp downturn in the number of backpackers visiting Australia and the amount of money they spent.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

ACCC’s concerns delay Asciano deal

roymorgansocial Leave a comment

Original article by Perry Williams
The Australian Financial Review – Page: 22 : 27-May-16

The Australian Competition & Consumer Commission will not make a final ruling on the $A9bn takeover of ports and rail group Asciano until 21 July 2016. The ACCC’s statement of issues raises a number of concerns regarding the proposed deal, including the impact on competition if the sale of Asciano’s stake in the ACFS Port Logistics joint venture proceeds. The ACCC will accept submissions on its statement of issues until 10 June.

CORPORATES
ASCIANO LIMITED – ASX AIO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ACFS PORT LOGISTICS PTY LTD, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, QATAR INVESTCO, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, QUBE HOLDINGS LIMITED – ASX QUB, PATRICK CORPORATION LIMITED, SUPREME COURT OF NEW SOUTH WALES, PACIFIC NATIONAL PTY LTD, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION, DBCT HOLDINGS PTY LTD

$1b call to land air traffic under private control

roymorgansocial Leave a comment

Original article by Jamie Freed
The Australian Financial Review – Page: 26 : 29-Apr-16

The Australian Aviation Associations’ Forum (TAAAF) believes air traffic control provider Airservices Australia would operate more efficiently as a private company. According to TAAAF chairman Greg Russell, the most appropriate would be the not-for-profit business model. The Airline Owners & Pilots Association also called for the privatisation of Airservices. The sale could raise $A1 billion for the Federal Government.

CORPORATES
AIRSERVICES AUSTRALIA, AUSTRALIAN AVIATION ASSOCIATIONS’ FORUM, AIRLINE OWNERS AND PILOTS ASSOCIATION, NAV CANADA, QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIA. PRODUCTIVITY COMMISSION

Corrigan’s full circle as Qube takes ports

roymorgansocial Leave a comment

Original article by Andrew White, Gretchen Friemann
The Australian – Page: 19 &20 : 16-Mar-16

Ports and rail group Asciano has recommended that shareholders accept a takeover bid led by Qube Holdings and Brookfield Infrastructure Partners. The $A9.05bn deal will result in Asciano being broken up, with Qube and Brookfield set to pay $A2.92bn for the Patrick container terminals business. A consortium of international investment funds will buy the bulk of Asciano’s assets, including the Pacific National rail freight business. Qube chairman Chris Corrigan was CEO of Patrick Corporation when it was acquired by Toll Holdings in 2006.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, TOLL HOLDINGS LIMITED, CANADA PENSION PLAN INVESTMENT BOARD, GLOBAL INFRASTRUCTURE PARTNERS, CHINA INVESTMENT CORPORATION, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, QATAR INVESTMENT AUTHORITY, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSBIL INVESTMENT MANAGEMENT LIMITED, NATIONAL FARMERS’ FEDERATION LIMITED

Qube and Brookfield put aside rivalry in joint bid for Asciano

roymorgansocial Leave a comment

Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 24-Feb-16

Shares in ports and rail group Asciano closed $A0.14 higher at $A9.01 on 23 February 2016, after its two suitors joined forces to propose a combined offer of $A9.28 per share. Qube Holdings and Brookfield Infrastructure Partners have been engaged in a long-running takeover play for Asciano, but their new proposal would result in them each holding a 50 per cent stake in the Patrick ports division. Their consortium partners would in turn acquire the Pacific National rail arm.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, BROOKFIELD ASSET MANAGEMENT INCORPORATED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION

Asciano recommends Qube bid and invokes break fee

roymorgansocial Leave a comment

Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 : 17-Feb-16

Directors of listed ports and rail group Asciano have backed the $9.05bn takeover offer from a consortium headed by Qube Holdings. Asciano will pay a break fee of $A88m to rival bidder Brookfield Infrastructure Partners, whose takeover offer had previously been endorsed by the target’s board. Qube subsequently trumped Brookfield’s offer, and the Canadian suitor failed to match its bid by the deadline of 15 February 2016. However, Brookfield could still make a revised offer.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CHINA INVESTMENT CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, PSP INVESTMENTS PTY LTD, QATAR INVESTMENT AUTHORITY, BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD