ETC – AUSTRALIA

Building boom in risky areas

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Original article by Michael Bleby, Matthew Cranston
The Australian Financial Review – Page: 1 : 5-Jan-17

Apartment buildings due for completion in 2017 and 2018 are often located in postcodes which are considered as risky by lenders. A study of Rider Levett Bucknall’s crane index in the September 2016 quarter indicates that about 38 per cent of cranes were located in such areas. Brisbane’s apartment scene is particularly problematic, with nearly 57 per cent of all cranes located in areas of restricted lending.

CORPORATES
RIDER LEVETT BUCKNALL PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AMP LIMITED – ASX AMP, REALTY BASE GROUP, CHARTER KECK CRAMER, JONES LANG LASALLE AUSTRALIA PTY LTD, METRO PROPERTY DEVELOPMENT PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Rio chair’s confusion over pay

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Original article by James Chessell
The Australian Financial Review – Page: 13 & 16 : 8-Dec-16

Rio Tinto chairman Jan du Plessis has told a UK parliamentary committee of the growing complexity of the remuneration packages of British executives. He noted in particular the trend to measure executives’ performance by an increasing number of performance criteria. Du Plessis also conceded that he has trouble understanding some aspects of Rio Tinto’s remuneration policy, and said companies must do more to justify the high salaries paid to their executives.

CORPORATES
RIO TINTO LIMITED – ASX RIO, SABMILLER PLC, ANHEUSER-BUSCH INBEV SA/NV, HIGH PAY CENTRE, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER

South32 cops criticism on executive pay

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Original article by Tess Ingram, Peter Ker
The Australian Financial Review – Page: 23 : 24-Nov-16

Institutional Shareholder Services has questioned South32’s short-term incentives scheme given the group’s large net loss for 2015-16 and its industrial safety record. The proxy adviser has recommended that shareholders vote against the miner’s remuneration report at the 2016 AGM. The Australian Shareholders’ Association also intends to vote against the remuneration report, as well as the issuance of share rights to CEO Graham Kerr. South32’s 2015 remuneration report was rejected by 5.6 per cent of shareholders.

CORPORATES
SOUTH32 LIMITED – ASX S32, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, ABERDEEN ASSET MANAGEMENT LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY

Prime chair acts to avoid a second strike

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Original article by Darren Davidson
The Australian – Page: 21 : 23-Nov-16

The remuneration report of Prime Media Group was endorsed by a large majority of votes cast at the 2016 AGM. Chairman John Hartigan said the company had revised its executive pay structure in response to feedback from shareholders. Prime had incurred a first "strike" against its remuneration report in 2015. Shareholders have also voted against a resolution to hold a meeting to spill the board. Meanwhile, Hartigan has advised that he has agreed to give up half of his director’s fee. Prime posted a statutory loss of $A93.5m in 2015-16.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, NETFLIX INCORPORATED, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY

Nine facing backlash over pay

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Original article by Jake Mitchell
The Australian – Page: 23 : 14-Nov-16

Nine Entertainment Company could incur a first "strike" against its remuneration report at the 2016 AGM. WIN Corporation owner Bruce Gordon controls 14.9 per cent of Nine’s shares, while Perpetual has a 14.2 per cent stake. WIN has lobbied the fund manager to vote against the report, although Institutional Shareholder Services and the Australian Shareholders’ ­Association have recommended that investors vote in favour of the report. However, the salary of Nine chairman Peter Costello is expected to attract scrutiny.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NECWIN CORPORATION PTY LTDBIRKETU PTY LTDPERPETUAL LIMITED – ASX PPTINSTITUTIONAL SHAREHOLDER SERVICES INCORPORATEDAUSTRALIAN SHAREHOLDERS’ ASSOCIATIONSOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXLFAIRFAX MEDIA LIMITED – ASX FXJ

CBA pay revolt triggers first strike at AGM

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Original article by James Eyers, Julie-anne Sprague
The Australian Financial Review – Page: 2 : 10-Nov-16

At the Commonwealth Bank of Australia’s AGM in Perth on 9 November 2016, the bank received a "first strike" when 49 per cent of votes and proxies rejected the remuneration report. Shareholders objected to the introduction of performance measures that would be difficult to measure and quantify. The meeting was disrupted by environmentalists who chanted a slogan "Act on climate, CommBank can".

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, AUSTRALIAN YOUTH CLIMATE CHANGE COALITION LIMITED

Recycling a way of life for Aussies…but that doesn’t necessarily mean we’re a nation of greenies

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-16

A Roy Morgan Single Source survey has found that 91.1 per cent of Australians aged 14+ agreed with the statement "I try to recycle everything I can" in the year to September 2016. This compares with 81.3 per cent in the year to September 2001. The survey also shows that Australians aged 14-17 remain the least likely to recycle (69.7 per cent in 2001 and 81.7 per cent now). The 65+ age group is still the most likely to recycle, rising from 89.2 per cent in 2001 to 93.8 per cent in 2016. Meanwhile, 63.2 per cent of Australians now agree that "At heart I’m an environmentalist", down from 68.8 per cent in 2001, while 26.1 per cent of the population now believes that "Threats to the environment are exaggerated", up from 22.2 per cent in 2001.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Labor to back Coalition super changes

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 7-Nov-16

Sources within the Australian Labor Party have indicated that it is likely to support most of the Federal Government’s proposed superannuation reforms. The Government has made a number of compromises in order to gain support for its reforms; amongst other things, it agreed to abandon a push to introduce a $A500,000 lifetime cap on non-concessional contributions. Meanwhile, the Senate’s legislative agenda for the week beginning 7 November includes the bill to hold a plebiscite on same-sex marriage.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

Jervois Mining and the great scandium battle

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Original article by Trevor Skykes
The Australian Financial Review – Page: 27 : 4-Nov-16

Jervois Mining’s three directors were paid $A580,000 in salaries and fees in 2015-16 which is a generous sum, considering that the board met only seven times. The directors’ remuneration contrasts with Jervois Mining’s negative cash flow and a pre-tax loss of $A941,000. Jervois Mining’s scandium deposit made the company attractive to Scandium Developments International which urges Jervois Mining’s shareholders to support its attempt to remove the board of the mining company.

CORPORATES
JERVOIS MINING LIMITED – ASX JRV, SCANDIUM DEVELOPMENTS INTERNATIONAL, AUZEX RESOURCES LIMITED, NORTON GOLD FIELDS LIMITED, BLOOM ENERGY, EXPLAURUM LIMITED – ASX EXU, PLATYPUS MINERALS LIMITED – ASX PLP, AUSTRALIAN MINES LIMITED – ASX AUZ, AUSTRALIA. TAKEOVERS PANEL

New Free TV boss Savill to push for cuts in broadcast licence fees

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 10-Oct-16

Brett Savill, who has succeeded Julie Flynn as CEO of Free TV Australia, says the TV sector is likely to undergo greater change in the next 5-10 years than the switch from analogue to digital. However, he notes that TV is still the only medium than can attract the large audiences that viewed the recent Australian Football League and National Rugby League grand finals. Savill is expected to lobby the Federal Government for a further reduction in broadcasting licence fees, which Communications Minister Mitch Fifield has indicated is under active consideration.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN NETWORK LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, BAI COMMUNICATIONS, BROADCAST AUSTRALIA PTY LTD, PRICEWATERHOUSECOOPERS, KORN/FERRY INTERNATIONAL, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE