Original article by Perry Williams
The Australian – Page: 15 : 30-Oct-20
Mining magnate Andrew Forrest is set to proceed with a proposed LNG import terminal at Port Kembla in New South Wales. Sources have indicated that Forrest’s private company Squadron Energy is close to finalising a long-term lease at Port Kembla. Squadron recently bought out its Japanese partners in the project, and it has previously indicated that construction work could start by the end of 2020. A number of other LNG import projects have been proposed to address gas supply concerns in Australia’s eastern states.
SQUADRON ENERGY PTY LTD
Original article by Roy Morgan
Market Research Update – Page: Online : 23-Mar-20
A special Roy Morgan survey on ‘Trust’ and ‘Distrust’ of business leaders shows Australian entrepreneurs Dick Smith, Mike Cannon-Brookes and Andrew Forrest have the highest ‘Net Trust Scores’ – meaning the ‘Trust’ felt towards the three far outweighs the ‘Distrust’ – according to a special Roy Morgan Snap SMS Survey of 974 Australians aged 14+ conducted this week. Behind the top three is Qantas CEO Alan Joyce. Also scoring highly for ‘Trust’ are Medical Leaders/Professionals and the Australian Medical Association, which is currently at the forefront of dealing with the COVID-19 coronavirus pandemic. At the other end of the scale are business leaders whose ‘Distrust’ outweighs their ‘Trust’ among Australians. Media proprietor Rupert Murdoch scores the highest ‘Distrust’ of any businessman, ahead of ex-politician and mining entrepreneur Clive Palmer and fellow miner Gina Rinehart. All three fill the rankings for the highest ‘Net Distrust’ and are followed by retailer Gerry Harvey of Harvey Norman. Also scoring high levels of ‘Net Distrust’ are the generic ‘Banks/Bank CEOs’ and ‘Mining companies’. Roy Morgan CEO Michele Levine says Australians often look towards high-profile business people to provide leadership in times of crisis.
ROY MORGAN LIMITED
Original article by Nick Evans
The Australian – Page: 20 : 5-Mar-20
Squadron Energy, the private company of mining magnate Andrew Forrest, has made a takeover bid for Windlab, a listed wind farm developer and operator. Squadron has teamed up with Federation Asset Management to offer $1 per share for Windlab, valuing the bid at $68.2m. Windlab shares rallied on 4 March, closing at $0.965; investors had paid $2 per share in its 2017 IPO. Squadron is expected to have a 75 per cent stake in Windlab if the deal proceeds.
WINDLAB LIMITED – ASX WND, SQUADRON ENERGY PTY LTD, FEDERATION ASSET MANAGEMENT PTY LTD
Original article by John Stensholt
The Australian – Page: 15 & 16 : 21-Jan-20
Shares in pure-play iron ore miner Fortescue Metals Group have gained more than 10 per cent so far in 2020, reaching a new intra-day high of $11.92 on 20 January. The rally has lifted Fortescue’s market capitalisation to more than $36bn, and it now ranks as Australia’s 13th largest company in terms of market cap. The stake of founder Andrew Forrest is now worth about $13bn, while his net wealth has increased by about $1bn since the start of the year and $7bn since March.
FORTESCUE METALS GROUP LIMITED – ASX FMG
Original article by Max Mason
The Australian Financial Review – Page: 17 : 16-Dec-19
Prime Media Group shareholders will vote on a proposed takeover by Seven West Media on 19 December. Prime’s major shareholders include Australian Community Media’s Antony Catalano and WIN Corporation owner Bruce Gordon, whose combined stake would be sufficient to block the deal. They have both expressed interest in buying Prime, but ACM would have to sell some of its regional newspapers, while any bid by Gordon would be dependent on further changes to media ownership rules. Communications Minister Paul Fletcher has indicated that this is unlikely in the near-term.
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMMUNITY MEDIA, WIN CORPORATION PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC
Original article by Patrick Durkin
The Australian Financial Review – Page: 3 : 29-Nov-19
Facebook has responded to claims that it is not doing enough to address the issue of fraudulent advertisements on its platforms. Carolyn Everson, Facebook’s global head of marketing, says it has launched a "massive crackdown" on scam ads and may take legal action against those responsible for them. Mining magnate Andrew Forrest has called for digital platforms to be treated in the same way as traditional media companies. He is among the high-profile Australians whose photos have been used in scam ads published on digital platforms such as Facebook and Google.
FACEBOOK INCORPORATED, GOOGLE INCORPORATED, TWITTER INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM
Original article by Max Mason
The Australian Financial Review – Page: 7 : 28-Nov-19
Fortescue Metals Group founder Andrew Forrest argues that technology companies such as Facebook should be treated in the same way as traditional media companies with regard to advertising content that appears on their platforms. He contends that digital companies are not doing enough to address the issue of fraudulent ads, and they must be accountable for the ads that are published on their platforms. Forrest is among a number of high-profile Australians whose images have been used to promote scams on social media platforms.
Original article by Samantha Maiden
The New Daily – Page: Online : 21-Oct-19
It is expected that businessman Clive Palmer’s advertising expenditure on the last federal election will be somewhere around $65 million to $70 million when he lodges his final expenditure statement with the Australian Electoral Commission. Labor has apparently blamed Palmer’s extensive advertising as one of the factors behind its defeat, but Palmer has rejected its calls for a cap on advertising expenditure. He says Labor was happy for him to spend as much as he liked when it appeared that he would be giving them his preferences.
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY
Original article by Max Mason
The Australian Financial Review – Page: 29 : 7-Oct-19
WIN Corporation owner Bruce Gordon currently has a 19.7 per cent stake in rival regional TV broadcaster Prime Media Group. This comprises a direct stake of 11.6 per cent and an 8.1 per cent stake held via a cash-settled share swap. The Australian Communications & Media Authority is investigating Gordon after his ‘relevant interest’ in Prime exceeded the maximum of 20 per cent earlier in 2019. However, ACMA is expected to conclude that the breach was an error caused by the failure of a middleman to properly execute a swap with Swiss bank Vontobel.
WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, VONTOBEL BANK, DEUTSCHE BANK AG, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED
Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 26-Sep-19
Australian iron ore magnate Andrew Forrest has revealed a proposal to reduce global plastic waste by imposing a levy on plastics manufacturers. Forrest says the levy would initially raise about $US20bn a year, which could potentially increase to $US100bn, and the proceeds would be used to encourage the plastics industry to collect waste products and convert them back into polymer resin for reuse. Forrest’s Minderoo Foundation will invest some $US300m ($442m) in the initiative. Forrest says plastics are the biggest threat to the world’s oceans.
MINDEROO FOUNDATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, UNITED NATIONS. GENERAL ASSEMBLY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, ELLEN MacARTHUR FOUNDATION, UNIVERSITY OF WESTERN AUSTRALIA