K64 Auxiliary Finance and Insurance Services

Dividend credit debate splits business, investors

roymorgansocial Leave a comment

Original article by Vesna Poljak, Shaun Drummond, Joanna Mather
The Australian Financial Review – Page: 1 & 8 : 31-Mar-15

Changes to the dividend imputation system are among the reforms canvassed in the Australian Government’s tax discussion paper, which was released in late March 2015. Wilson Asset Management chairman Geoff Wilson says scrapping dividend imputation credits may result in a sharp fall in yields for investors, while Fidelity fund manager Paul Taylor warns that it would result in poor decisions on the allocation of capital. However, some observers are in favour of reviewing dividend imputation

CORPORATES
WILSON ASSET MANAGEMENT, FIDELITY INVESTMENTS AUSTRALIA LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, CORPORATE TAX ASSOCIATION, COCHLEAR LIMITED – ASX COH, GROUP OF 100, BUSINESS COALITION FOR TAX REFORM, WOOLWORTHS LIMITED – ASX WOW, WAVESTONE CAPITAL PTY LTD, CARDNO LIMITED – ASX CDD, AMP LIMITED – ASX AMP

Foreign suitors tipped to strike again in 2015

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 24 : 30-Mar-15

A report produced by law firm Gilbert + Tobin shows that offshore buyers were more active in mergers and acquisitions involving Australian-listed companies in 2014. The firm expects a similar level of takeover activity involving offshore groups in 2015, citing factors such as the lower Australian dollar. The real estate, resources and energy sectors in particular are tipped to generate strong interest among offshore investors

CORPORATES
GILBERT AND TOBIN LAWYERSTOLL HOLDINGS LIMITED – ASX TOLJAPAN POSTROC OIL COMPANY LIMITEDAURORA OIL AND GAS LIMITEDDAVID JONES LIMITEDDEALOGIC HOLDINGS PLCHJ HEINZ COMPANYKRAFT FOODS INCORPORATED

6300 in sight for Citi

roymorgansocial Leave a comment

Original article by Sally Rose
The Australian Financial Review – Page: 31 : 26-Mar-15

The S&P/ASX 200 remains close to the 6,000-point level, but some equity strategists are bullish about the benchmark index’s outlook. Tony Brennan and Vivian Jiang of Citigroup forecast that it will top 6,300 points by the end of 2015, while Credit Suisse has a year-end target of 6,500 points. The market is tipped to push higher due to factors such as rising support for shares due to low interest rates in Australia and overseas

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ZURICH INVESTMENT MANAGEMENT LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF ENGLAND, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Bankers pick plenty of M&A in 2015

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 26-Mar-15

Data from Dealogic shows that mergers and acquisitions activity involving Australian companies has topped $US32bn ($A40bn) so far in 2015. Major deals have included the acquisition of Toll Holdings by Japan Post and the proposed merger between Federation Centres and Novion Property Group. Geoff Joyce of Macquarie Capital is upbeat about the outlook for M&A activity, while Simon Ranson of JP Morgan notes that deal-making is being spurred on by reduced financing costs

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, MACQUARIE CAPITAL PTY LTD, IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, VARDE PARTNERS INCORPORATED, DEUTSCHE BANK AG, GE CAPITAL CORPORATION, PACIFIC EQUITY PARTNERS PTY LTD, BAIN CAPITAL LLC, BRADKEN LIMITED – ASX BKN, UBS HOLDINGS PTY LTD, MORGAN STANLEY REAL ESTATE INVESTING, INVESTA PROPERTY GROUP, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GPT GROUP – ASX GPT, MOELIS AND COMPANY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Bankers pick plenty of M&A in 2015

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 25 : 26-Mar-15

Data from Dealogic shows that mergers and acquisitions activity involving Australian companies has topped $US32bn ($A40bn) so far in 2015. Major deals have included the acquisition of Toll Holdings by Japan Post and the proposed merger between Federation Centres and Novion Property Group. Geoff Joyce of Macquarie Capital is upbeat about the outlook for M&A activity, while Simon Ranson of JP Morgan notes that deal-making is being spurred on by reduced financing costs

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, FEDERATION CENTRES – ASX FDC, NOVION PROPERTY GROUP – ASX NVN, MACQUARIE CAPITAL PTY LTD, IFM INVESTORS PTY LTD, INDIANA TOLL ROAD CONCESSION COMPANY, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, VARDE PARTNERS INCORPORATED, DEUTSCHE BANK AG, GE CAPITAL CORPORATION, PACIFIC EQUITY PARTNERS PTY LTD, BAIN CAPITAL LLC, BRADKEN LIMITED – ASX BKN, UBS HOLDINGS PTY LTD, MORGAN STANLEY REAL ESTATE INVESTING, INVESTA PROPERTY GROUP, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, GPT GROUP – ASX GPT, MOELIS AND COMPANY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

6300 in sight for Citi

roymorgansocial Leave a comment

Original article by Sally Rose
The Australian Financial Review – Page: 31 : 26-Mar-15

The S&P/ASX 200 remains close to the 6,000-point level, but some equity strategists are bullish about the benchmark index’s outlook. Tony Brennan and Vivian Jiang of Citigroup forecast that it will top 6,300 points by the end of 2015, while Credit Suisse has a year-end target of 6,500 points. The market is tipped to push higher due to factors such as rising support for shares due to low interest rates in Australia and overseas

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ZURICH INVESTMENT MANAGEMENT LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF ENGLAND, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Commentators look forward as ASX 200 flirts with 6000

roymorgansocial Leave a comment

Original article by John Wasiliev
The Australian Financial Review – Page: 28 : 24-Mar-15

Australia’s S&P/ASX 200 Index continued to test the 6,000-point level again on 23 March 2015. Ric Spooner of CMC markets expects it to rise above 6,000 points in the near-term, adding that if the benchmark index finds support above this level it could potentially rise to around 6,180. Meanwhile, ThinkForex’s Matt Simpsons says the Australian dollar is likely to trade within the range of $US0.755 to $US0.7912 in the near-term

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CMC MARKETS PTY LTD, THINKFOREX, IG MARKETS LIMITED, OANDA AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CSL LIMITED – ASX CSL, RESMED INCORPORATED – ASX RMD, WESTFIELD CORPORATION – ASX WFD, QUAY EQUITIES PTY LTD, HC SECURITIES

Debt markets may also move to T+2 settlements

roymorgansocial Leave a comment

Original article by Joyce Moullakis
The Australian Financial Review – Page: 18 : 24-Mar-15

An ASX working party has proposed shifting to a two-day settlement cycle for cash-based share trades from 7 March 2016, in line with European bourses. New Zealand may also adopt the so-called T+2 settlement cycle in 2016, as many stocks are listed in both Australia and New Zealand. Australian debt markets may also adopt T+2 in 2016

CORPORATES
ASX LIMITED – ASX ASX, AUSTRALIAN FINANCIAL MARKETS ASSOCIATION INCORPORATED, RESERVE BANK OF AUSTRALIA, OMGEO PTY LTD

Murdoch eyes radio assets in APN play

roymorgansocial Leave a comment

Original article by Dominic White, Sarah Thompson
The Australian Financial Review – Page: 13 & 18 : 20-Mar-15

Independent News & Media (INM) and Baycliffe have exited the share register of Australian-listed APN News & Media. INM netted about $A180m for its 191 million shares, while Baycliffe offloaded 125 million shares for $A117m. Meanwhile, News Corporation has built a 14.99 per cent stake in APN, although under existing media ownership laws it is prohibited from increasing this. APN shares were placed in a trading halt at $A0.94 on 19 March 2015

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, INDEPENDENT NEWS AND MEDIA PLC, BAYCLIFFE LIMITED, NEWS CORPORATION – ASX NWS, NOVA ENTERTAINMENT PTY LTD, KIIS1065, AUSTRALIAN RADIO NETWORK PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, 101.7 WS-FM, NOVA 96.9 PTY LTD, SMOOTHFM, 2DAY FM AUSTRALIA PTY LTD, NZME, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CREDIT SUISSE (AUSTRALIA) LIMITED, ALLAN GRAY AUSTRALIA PTY LTD

Boral launches $236m program to buy back shares

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 21 : 19-Mar-15

Australian-listed building materials group Boral has revealed plans for an on-market share buyback. The group aims to repurchase about five per cent of its shares over the next year, which could cost up to $A236m. Boral boasted cash holding of $A357m at the end of 2014, and Andrew Peros of Credit Suisse says the buyback will place the group in a strong financial position to pursue acquisitions

CORPORATES
BORAL LIMITED – ASX BLD, CREDIT SUISSE (AUSTRALIA) LIMITED, RIO TINTO LIMITED – ASX RIO, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, ORICA LIMITED – ASX ORI, AMCOR LIMITED – ASX AMC, USG CORPORATION, TRANSPACIFIC INDUSTRIES GROUP LIMITED – ASX TPI