Top unis face $1.2bn virus hit

Original article by Tim Dodd, Adam Creighton, Jill Rowbotham
The Australian – Page: 1 & 6 : 19-Feb-20

The value of Australia’s education exports to China topped $12bn in 2019; analysis by the Centre for Independent Studies suggests that this could fall by up to 40 per cent in 2020, even if the coronavirus outbreak has been contained by June. Meanwhile, 10 of Australia’s top universities – including the so-called Group of Eight – could lose up to $1.2bn worth of fees from Chinese students who have been affected by the federal government’s travel ban. It has prevented about 65,000 students from arriving in Australia for the start of the academic year.

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THE CENTRE FOR INDEPENDENT STUDIES LIMITED, THE GROUP OF EIGHT LIMITED

Australia prepares to extend China travel ban due to coronavirus

Original article by Eryk Bagshaw
The Age – Page: Online : 11-Feb-20

The federal government’s 14-day travel ban on non-citizens entering Australia from the Chinese mainland will expire on 15 February, and sources have indicated that it is likely to be extended. The move will prevent about 56 per cent of the Chinese students at Australian universities from arriving in time for the start of the academic year. Meanwhile, more than 100 Australian citizens and permanent residents are still in Hubei province, but the government has no plans for a third evacuation flight.

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Campuses may lose $2bn in fees

Original article by Tim Dodd, Heidi Han
The Australian – Page: 7 : 7-Feb-20

The federal government’s travel ban has prevented nearly 100,000 Chinese university students from arriving in Australia for the start of the academic year. S&P Global says the universities’ operating margins will be hit if the travel restrictions are not lifted in the next few weeks. The firm estimates that the travel ban could cost universities up to $2bn in fees, and notes that the broader economy will also be impacted. Some universities will offer online courses for the first several weeks of the semester.

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S&P GLOBAL INCORPORATED

Chinese uni students face embassy threats

Original article by Michael Owen
The Australian – Page: 8 : 13-Sep-18

Hugh Sutton from the Adelaide University Liberal Club says there was a lot of intimidating behaviour involving students from China at recent student elections. Chinese students that were campaigning for the Progress Party and who were displaying a banner stating "Jobs not Socialism" say they received a message on WeChat saying that they would be reported to the Chinese Embassy in Canberra. It is alleged the threats were made by other Chinese students campaigning for the International Voice party. Sutton says the Chinese Student Association had "splintered" over the last year, with some members joining International Voice, while others joined the Progress Party.

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ADELAIDE UNIVERSITY LIBERAL CLUB, UNIVERSITY OF ADELAIDE

Foreign money needed for build-to-rent funds, says EY

Original article by Nick Lenaghan
The Australian Financial Review – Page: 39 : 1-May-18

Federal Treasurer Scott Morrison announced restrictions on the purchase of residential property by managed investment trusts in September 2017. Luke McIntosh of Ernst & Young claimed at a property forum on 30 April that the restrictions make it hard to attract the foreign capital needed to get the build-to-rent sector off the ground in Australia. Build-to-rent involves the development of housing from which investors make their profit by retaining it for renters rather than selling it.

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AUSTRALIA. DEPT OF THE TREASURY, ERNST AND YOUNG, SALTA PROPERTIES PTY LTD

Exploited worker told ‘keep quiet or else’ about underpayment

Original article by Ewin Hannan
The Australian – Page: 7 : 23-Oct-17

The Federal Circuit Court has ordered Haim and Rina Diamond to pay more than $A70,000 after breaching workplace laws. They were found to have underpaid employees – who were primarily foreign students or visitors on working holiday visas – more than $A34,000 over a six-month period. The couple were also accused of providing false and misleading records to Fair Work inspectors and threatening to report an employee to immigration officials for breaching the conditions of her student visa if she did not withdraw a complaint about her wages.

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FEDERAL CIRCUIT COURT OF AUSTRALIA, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Foreign apartment buyers to halve

Original article by Michael Bleby
The Australian Financial Review – Page: 31 : 24-Jul-17

The number of new apartments funded by foreign investors in Australia is tipped to fall significantly over the period from 2016 to 2019, according to Master Builders Australia. It attributes the expected decline to federal and New South Wales government curbs on foreign property investors. The MBA also expects foreign investment in new standalone properties to decline, but by not as much as apartment investment. The MBA expects NSW to feel the biggest impact in terms of a decline in new foreign investor-funded apartments, but Tim Lawless of CoreLogic suggests that Victoria instead will be most affected.

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MASTER BUILDERS OF AUSTRALIA, CORELOGIC AUSTRALIA PTY LTD

Global investors moving ASX funds elsewhere

Original article by Myriam Robin
The Australian Financial Review – Page: 31 : 23-Jun-17

Some fund managers suggest that the Australian sharemarket’s 1.6 per cent downturn on 21 June was prompted by foreign investors shifting out of local equities. Meanwhile, Tony Brennan and Mark Tomlins of Citigroup say Asian sharemarkets may be more attractive to international investors at present, given their better prospects for earnings upgrades. Hasan Tevfik of Credit Suisse adds that passive fund managers are likely to reduce their exposure to Australian shares in coming years as the MSCI Asia-Pacific ex-Japan’s weighting toward Chinese and Hong Kong-listed shares increases.

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CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MSCI ASIA-PACIFIC EX-JAPAN INDEX, MSCI EMERGING MARKETS INDEX, MSCI INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, COMPUTERSHARE LIMITED – ASX CPU, MSCI AUSTRALIA INDEX

Levy a shock for foreign investors: NAB

Original article by James Eyers
The Australian Financial Review – Page: 18 : 16-Jun-17

The Senate Economics Legislation Committee is currently investigating the bill to implement the Federal Government’s proposed bank levy. National Australia Bank CFO Gary Lennon says foreign investors have expressed concern to him about the tax, including the rushed manner in which it has been adopted. Amongst other things, submissions to the committee have argued that the bill should include a "sunset clause" and that the tax should cover foreign banks.

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NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. SENATE ECONOMICS LEGISLATION COMMITEE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE BANK LIMITED – ASX MBL, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN BANKERS’ ASSOCIATION, ME BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, CUSTOMER OWNED BANKING ASSOCIATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN GREENS

Australians say ‘No’ to 100% foreign ownership of Fairfax

Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-May-17

An Australia-wide Roy Morgan Survey has found that 78% of Australians aged 14+ do not want Fairfax Media to be 100% owned by either of the two overseas owned institutions that have lodged multi-billion dollar bids for the company. Meanwhile, 17% of Australians say that overseas-owned institutions should be allowed to buy Fairfax outright. The survey, which was conducted from 22-24 May 2017, also shows that 53% of Australians are in favour of allowing overseas-based institutions to own a minority stake in Fairfax. A larger majority of L-NP supporters (59%) are in favour of this option for Fairfax than ALP supporters (51%). The survey has also found that the internet is now the main source of information for 51% of Australians, compared to 24% for TV and 12% for both newspapers and radio.

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ROY MORGAN RESEARCH LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, TPG CAPITAL LP, HELLMAN AND FRIEDMAN