K64 Auxiliary Finance and Insurance Services

Strong M&A tipped for 2015

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

Data from Dealogic shows that some $US13.9bn ($A17.7bn) worth of mergers and acquisitions have been proposed in Australia so far in 2015. M&A experts are generally upbeat about the outlook for 2015, with Minter Ellison partner Ron Forster anticipating strong activity in the gold and iron ore sectors in particular. Karen Evans-Cullen of Clayton Utz notes that the downturn in the value of the Australian dollar may attract more bids from offshore groups

CORPORATES
DEALOGIC (AUSTRALIA) PTY LTD, MINTER ELLISON, CLAYTON UTZ, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, NOVION PROPERTY GROUP – ASX NVN, FEDERATION CENTRES – ASX FDC, PORT OF MELBOURNE, AUSTRALIA. DEFENCE HOUSING AUSTRALIA, BOART LONGYEAR LIMITED – ASX BLY, CENTERBRIDGE PARTNERS LP, GRESHAM PARTNERS LIMITED, MIZUHO BANK LIMITED

Big four banks have large cross-sell potential

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Feb-15

A Roy Morgan Consumer Single Source Survey has found that the "share of wallet" of each of Australia’s four major bank has increased over the last decade. The ANZ Bank’s share of wallet rose by 5.2 per cent to 28.8 per cent between January 2004 and December 2014, while the Commonwealth Bank of Australia’s share rose by 4.3 per cent to 34.2 per cent. For accounts/deposits, CBA has the highest share of their customers’ wallet with 60.3 per cent (up 7.1 per cent over the last 10 years), followed by Westpac with 55.3 per cent (up three per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ASX has 6000 points in its sight

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Original article by Sally Rose
The Australian Financial Review – Page: 20 : 23-Feb-15

The S&P/ASX 200 shed 0.4 per cent on 20 February 2015, closing at 5,881.5 points. However, the Australian sharemarket has gained 8.7 per cent so far in 2015, and the benchmark index reached a year-to-date high of 5,915.7 on 18 February. There is agreement among six equities strategists that the S&P/ASX 200 will soon breach the 6,000-point level, although they do not expect it to reach the record high of 6,828.7 for another 2-3 years

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, DEUTSCHE BANK AG, PERPETUAL LIMITED – ASX PPT, RESERVE BANK OF AUSTRALIA, PEOPLE’S BANK OF CHINA, MACQUARIE RESEARCH EQUITIES, MACQUARIE BANK LIMITED – ASX MBL, TOLL HOLDINGS LIMITED – ASX TOL, JAPAN POST, AMP CAPITAL INVESTORS LIMITED, UBS WEALTH MANAGEMENT AUSTRALIA LIMITED, MLC LIMITED, STANDARD AND POOR’S ASX ALL ORDINARIES ACCUMULATION INDEX, STANDARD AND POOR’S 500 INDEX

BHP under pressure to lift returns

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Original article by Amanda Saunders
The Australian Financial Review – Page: 18 : 23-Feb-15

BHP Billiton has not reduced its dividend since 1988, and analysts generally agree that a reduced payout is unlikely when the resources giant releases its 2014-15 interim results on 24 February 2015. Paul Young of Deutsche Bank does not expect BHP to increase its dividend for at least another two years, arguing that it should focus on growth rather than improving returns to shareholders. Paul McTaggart of Credit Suisse also says a share buyback is unlikely in the next several years

CORPORATES
BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, CREDIT SUISSE (AUSTRALIA) LIMITED, SOUTH32 LIMITED

Calls for wider inquiry into financial planning

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Original article by Clancy Yeates, Adele Ferguson
The Australian Financial Review – Page: 13 & 16 : 23-Feb-15

The Australian Government is likely to face increased pressure to hold an inquiry in the wake of a new controversy involving financial planners. It has been revealed that 750 customers of National Australia Bank have received compensation for poor advice from its investment advisers over the last five years. Several senators have urged the Government to undertake a royal commission, while Australian Consumers’ Association spokeswoman Erin Turner says there is need for greater transparency in dealing with such scandals

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN CONSUMERS’ ASSOCIATION, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, JBWERE LIMITED, MERITUM FINANCIAL GROUP PTY LTD

AMP cautions against new US-style test

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 20-Feb-15

AMP CEO Craig Meller says there is widespread acceptance of the need for better standards of education for Australian financial advisers. However, Meller has questioned the need for financial planners to undertake a national exam if they already have a university degree. The Australian Securities & Investments Commission recently proposed an exam system modelled on the Series 7 exam that is used in the US

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Fairfax unveils buyback surprise

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 18 : 20-Feb-15

Australian-listed Fairfax Media has reported a 2014-15 interim underlying net profit of $A86m, which is 0.6 per cent lower than previously. Revenue from operations fell by 12.9 per cent to $A943.3m, while the media group will undertake an on-market share buyback over the next 12 months. It plans to repurchase up to 121 million shares, which equates to five per cent of the stock on issue

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, CITIGROUP PTY LTD

Roy Morgan announces 2014 winners of Banking and Finance Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its 2014 Customer Satisfaction Awards for the banking and finance industry on 18 February 2015. P&N Bank was named the Bank of the Year, while the Commonwealth Bank won the award for Major Bank of the Year. Bendigo Bank was named the Business Bank of the Year, Defence Service Homes Insurance took out the award for General Insurer of the Year and ESSSuper received the award for Industry Superannuation Fund of the Year

CORPORATES
ROY MORGAN RESEARCH LIMITED, P&N BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BENDIGO BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, NRMA LIMITED, REST SUPER PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, PLUM FINANCIAL SERVICES LIMITED

Roy Morgan announces 2014 winners of Customer Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its fourth annual Customer Satisfaction Awards on 18 February 2015. The awards recognise outstanding levels of customer satisfaction, as judged by more than 50,000 consumers and 12,000 business decision-makers throughout 2014. The 37 award categories cover sectors such as banking, insurance, superannuation, automotive, travel and hospitality, retail, telecommunications and utilities. Roy Morgan Research CEO Michele Levine says the awards have earned a reputation as the most accurate and reliable measure of customer satisfaction in Australia

CORPORATES
ROY MORGAN RESEARCH LIMITED, LEXUS AUSTRALIA, P&N BANK, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, PLUM FINANCIAL SERVICES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, NRMA LIMITED, REST SUPER PTY LTD, AUTOBARN PTY LTD, GUARDIAN CHEMISTS, SUSSAN-SUZANNE GRAE, MICHEL’S PATISSERIE, DAVID JONES LIMITED, TARGET AUSTRALIA PTY LTD, THE REJECT SHOP LIMITED – ASX TRS, THE GOOD GUYS, TRUE VALUE HARDWARE LIMITED, CRUST PIZZA, GULL PETROLEUM PTY LTD, BETTS AND BETTS PTY LTD, BETTS KIDS, SPORTSPOWER, ALDI STORES SUPERMARKETS PTY LTD, APPLE INCORPORATED, SOUTHERN PHONE COMPANY LIMITED, INTERNODE SYSTEMS PTY LTD, AMAYSIM AUSTRALIA PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, SINGAPORE AIRLINES LIMITED, ACTEWAGL, RED ENERGY PTY LTD

Challenger lifts interim dividend

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 18-Feb-15

Listed financial services group Challenger has posted a 2014-15 interim normalised net profit of $A155m, which is five per cent lower than previously. Assets under management rose by 17 per cent to $A57.2bn, and shareholders will receive an interim dividend of $A0.145 per share. Challenger aims for growth of 11-13 per cent in sales of its annuity products for 2014-15

CORPORATES
CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. DEPT OF SOCIAL SERVICES