K64 Auxiliary Finance and Insurance Services

Call to simplify IPO process to revive market

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Original article by Joyce Moullakis
The Australian – Page: 18 : 6-Aug-24

Neil Pathak from law firm Ashurst has called for an overhaul of ASX Limited’s procedures for undertaking an IPO. He contends that the process for listing on the Australian sharemarket is too lengthy, noting that an IPO can take four months while a capital raising can be initiated and completed within two weeks. Data from the London Stock Exchange Group shows that a total of $US372.9m has been raised via IPOs in Australia so far in 2024; this is slightly higher than the same period in 2023, but well below the 2021 figure of $US3.9bn.

CORPORATES
ASHURST AUSTRALIA, ASX LIMITED – ASX ASX, LONDON STOCK EXCHANGE GROUP

Investors brace for bruising earnings season

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Original article by Sarah Jones
The Australian Financial Review – Page: 21 : 30-Jul-24

Factors such as the cost-of-living crisis and high interest rates are expected to weigh on the August corporate reporting season. Macquarie has forecast a six per cent decline in earnings across the market for 2023-24, although the broker anticipates earnings growth of 10 per cent in 2024-25. Jun Bei Liu from Tribeca Investment Partners in turn expects the earnings season to be one of the softest in recent times, stating that revenue and margins are likely to have remained under pressure due to factors such as high labour costs and slowing economic growth.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, TRIBECA INVESTMENT PARTNERS PTY LTD

Financial stress through the roof as interest rate hikes come home to roost

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Original article by David Taylor
abc.net.au – Page: Online : 9-Jul-24

The National Debt Line received 145,166 calls in the 2023-24 financial year, the highest number of calls in four years. Financial counsellor Mike Dunkley says he is experiencing his busiest time since he has been with the NDL, with calls increasing over the latter half of 2023 as the impact of interest rate increases began to take their toll. Dunkley says that most of the calls that the NDL gets are about mortgages and rents, while it has also been getting some calls about the Australian Taxation Office in recent months. For his part, Financial Counselling Australia CEO Peter Gartlan notes that the demand on financial counsellors has gone through the roof in recent times

CORPORATES
AUSTRALIAN TAXATION OFFICE, FINANCIAL COUNSELLING AUSTRALIA LIMITED

Local class-action litigation now second only to the US

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Original article by Jack Quail
The Australian – Page: 3 : 2-Jul-24

A report produced by the Menzies Research Centre has concluded that Australia’s litigation funding industry is now worth more than $200m, following huge growth over the last five years. The Liberal Party-aligned think tank notes that the litigation funding sector is "cashed up and thriving" amidst a lax regulatory environment. The MRC has urged the federal government to pursue greater regulation of litigation funders; amongst other things, it has recommended capping their fees at 30 per cent of a class action payout.

CORPORATES
THE MENZIES RESEARCH CENTRE LIMITED, LIBERAL PARTY OF AUSTRALIA

Loss-making companies surge on ASX, baffling analysts

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Original article by Alex Gluyas
The Australian Financial Review – Page: 29 : 21-May-24

Shares in Australian-listed growth stocks that have low or zero profits have gained 26 per cent so far in 2024. In contrast, comparable stocks in the US have shed 19 per cent, with the inflation outlook causing a spike in the yield on 10-year Treasury bonds. Matthew Ross from Goldman Sachs says this divergence is difficult to explain, given that the Australian stocks have the same general characteristics that make them vulnerable to higher interest rates. Goldman Sachs has identified a number of high-growth S&P/ASX 300 companies that it believes are well-placed to ride out an extended period of higher borrowing costs.

CORPORATES
GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD, STANDARD AND POOR’S ASX 300 INDEX

Former PM Gillard to chair $2bn energy fund

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Original article by Eli Greenblat
The Australian – Page: 14 : 7-May-24

HMC Capital has announced that former prime minister Julia Gillard has agreed to chair the newly created $2 billion HMC Capital Energy Transition Fund, which will make investments in energy assets such as wind, battery and bio-fuels. Gillard said she was "excited and honoured" by her appointment, noting it was in the nation’s interests to make the most of its abundant sources of renewable energy, while for his part, HMC Capital CEO David Di Pilla said he was "absolutely delighted" that someone of Gillard’s global standing and experience had agreed to chair the new fund.

CORPORATES
HMC CAPITA LIMITED – ASX HMC, HMC CAPITAL ENERGY TRANSITION FUND

ASX tipped to hit 8300 this year, defying rate talk

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Original article by Joanne Tran
The Australian Financial Review – Page: 29 : 7-May-24

The benchmark S&P/ASX 200 reached a record high of 7,896.9 points in early April; despite the recent pullback it has still gained about 0.6 per cent so far in 2024. UBS equity strategist Richard Schellbach is amongst the market watchers who are bullish about the outlook for the ASX 200, forecasting that it will top 8,000 points by the end of this year. VanEck Australia in turn has a year-end target of 8,300 points, while David Bassanese from Betashares expects the index to reach 8,250 by the end of 2024.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UBS HOLDINGS PTY LTD, VANECK AUSTRALIA PTY LTD, BETASHARES CAPITAL LIMITED

ASX tipped to hit 8300 this year, defying rate talk

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Original article by Joanne Tran
The Australian Financial Review – Page: 29 : 7-May-24

The benchmark S&P/ASX 200 reached a record high of 7,896.9 points in early April; despite the recent pullback it has still gained about 0.6 per cent so far in 2024. UBS equity strategist Richard Schellbach is amongst the market watchers who are bullish about the outlook for the ASX 200, forecasting that it will top 8,000 points by the end of this year. VanEck Australia in turn has a year-end target of 8,300 points, while David Bassanese from Betashares expects the index to reach 8,250 by the end of 2024.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UBS HOLDINGS PTY LTD, VANECK AUSTRALIA PTY LTD, BETASHARES CAPITAL LIMITED

Former PM Gillard to chair $2bn energy fund

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Original article by Eli Greenblat
The Australian – Page: 14 : 7-May-24

HMC Capital has announced that former prime minister Julia Gillard has agreed to chair the newly created $2 billion HMC Capital Energy Transition Fund, which will make investments in energy assets such as wind, battery and bio-fuels. Gillard said she was "excited and honoured" by her appointment, noting it was in the nation’s interests to make the most of its abundant sources of renewable energy, while for his part, HMC Capital CEO David Di Pilla said he was "absolutely delighted" that someone of Gillard’s global standing and experience had agreed to chair the new fund.

CORPORATES
HMC CAPITA LIMITED – ASX HMC, HMC CAPITAL ENERGY TRANSITION FUND

What it now costs to retire comfortably

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Original article by Anthony Keane
The Australian – Page: 19 : 13-Mar-24

Data from the Association of Superannuation Funds of Australia shows that couples now require $72,148 a year to live comfortably in retirement, while single people need $51,278. The cost of a comfortable retirement increased by 3.5 per cent in 2023, below the official inflation rate of 4.1 per cent. The rising cost of insurance, electricity and food contributed to the increase in ASFA’s retirement standard for the December quarter. CEO Mary Delahunty says the compulsory super guarantee’s increase to 12 per cent by mid-2025 will help more people to reach ASFA’s comfortable retirement standard level.

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED