INFRASTRUCTURE (ECONOMICS) – AUSTRALIA

Labor plan would give home affairs minister powers over critical infrastructure during cyber-attacks

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Original article by Josh Butler
The Guardian Australia – Page: Online : 20-Dec-23

The federal government has released a consultation paper on proposed changes to the Security of Critical Infrastructure Act. Amongst other things, Home Affairs and Cyber Security Minister Clare O’Neil could potentially be given the power to direct providers of criticial infrastructure – such as energy or transport companies – to take certain actions in the event of a cyber attack; this could include suspending their operations for the duration of the crisis. The minister may also be given the powers to direct companies that are hit by a cyber attack to replace customers’ personal documents that have been compromised, such as passports.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS

Foreign agents planting digital mines in key tech

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Original article by Liam Mendes, Ellen Whinnett
The Australian – Page: 1 & 4 : 1-Nov-23

The Cyber and Infrastructure Security Centre has warned that Australia’s critical infrastructure is under serious threat from foreign interference and espionage. The CISC’s inagural annual risk review notes that the nation’s critical infrastructure sectors are deeply interconnected, so a significant disruption in one sector will affect others. Concerns have also been raised that foreign players have planted ‘digital landmines’ in Australia’s critical infrastructure that could be triggered in the future.

CORPORATES
CYBER AND INFRASTRUCTURE SECURITY CENTRE

Spark’s $5.2b takeover tactics are well received

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Original article by Elouise Fowler
The Australian Financial Review – Page: 12 & 18 : 24-Aug-21

Shares in Spark Infrastructure rose by two per cent on 23 August after it was revealed its board had agreed to a $5.2 billion takeover offer from a consortium led by private equity firm Kohlberg Kravis Roberts and the Ontario teachers’ pension fund. Dougal Maple-Brown from Maple-Brown Abbott, which owns a stake in Spark, said that the Spark board had done a good job in getting the consortium to increase its original offer, while the transaction will be undertaken by means of a scheme of arrangement

CORPORATES
SPARK INFRASTRUCTURE GROUP – ASX SKI, KOHLBERG KRAVIS ROBERTS AND COMPANY, ONTARIO TEACHERS’ PENSION PLAN, MAPLE-BROWN ABBOTT LIMITED

Hot price for Telstra’s $2.8bn tower sale

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Original article by David Swan
The Australian – Page: 15 : 1-Jul-21

Telstra has struck a deal to sell a 49 per cent stake in its mobile phone tower network to a consortium that includes the Future Fund. The telco had previously flagged plans to divest a stake in the InfraCo Towers business via an auction process later in 2020, but Telstra CEO Andrew Penn says the consortium approached it with a "compelling" proposal. Telstra will return about half of the net proceeds of the $2.8bn transaction to its shareholders. Optus is also looking at selling its communications towers.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, SINGTEL OPTUS PTY LTD

Super funds lose billions as crisis hits

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Original article by Michael Roddan
The Australian – Page: 15 & 22 : 25-Mar-20

The financial market turmoil caused by the coronavirus pandemic has weighed on asset valuations in the superannuation industry. AustralianSuper has slashed the value of its portfolio of unlisted assets by 7.5 per cent, while IFM Investors has cut the valuations of its Australian unlisted assets by an average of 7.6 per cent. Both group have exposure to a range of infrastructure assets, such as airports and toll roads. Other super funds are also reviewing the value of their unlisted assets.

CORPORATES
AUSTRALIANSUPER PTY LTD, IFM INVESTORS PTY LTD

Infrastructure spending set to take a dive

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Original article by Adam Creighton
The Australian – Page: 6 : 28-Nov-19

The Parliamentary Budget Office has forecast that Australia’s net infrastructure investment will peak at $38bn in 2019-20, before falling over the next three years. This is primarily due to expectations that the net debt of the state governments will blow out to around $156bn by 2022. This would constitute the states’ highest share of public debt in two decades.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

‘QE will do nothing’: fundies back infrastructure spending

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Original article by Robert Guy
The Australian Financial Review – Page: 28 : 27-Nov-19

Quay Global Investors portfolio manager Chris Bedingfield contends that the Reserve Bank of Australia should not implement quantitative easing. He argues that the federal government should instead prioritise increased spending on infrastructure, noting that this will create jobs in the short-term and boost productivity in the long-term. Sarah Shaw of 4D Infrastructure also advocates investing in infrastructure to stimulate the economy.

CORPORATES
QUAY GLOBAL INVESTORS PTY LTD, 4D INFRASTRUCTURE PTY LTD, RESERVE BANK OF AUSTRALIA, BENNELONG FUNDS MANAGEMENT PTY LTD

Forget tax and spend, go for productivity: Albanese

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 22-Nov-19

Labor leader Anthony Albanese will emphasise the need to prioritise increased productivity in a speech on 22 November. He will identify microeconomic reform, fiscal management, infrastructure, and investment in people through skills and training as the key policy initiatives to lift productivity. He will also argue that the legislated increase in the superannuation guarantee must proceed, as it will encourage super funds to invest in productivity-boosting infrastructure.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Big projects to get strike protection

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Oct-19

Industrial Relations Minister Christian Porter has urged Labor to support legislation to allow workplace agreements to apply for the entire construction phase of greenfields projects. The move is aimed at preventing unions and workers from disrupting a resources, energy or infrastructure project by seeking improved wages and conditions if an enterprise agreement expires in the middle of the construction phase. The Construction, Forestry, Maritime, Mining & Energy Union’s Dave Noonan contends that it is unfair to lock in terms and conditions that could last for 5-10 years.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, CHEVRON CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Cyber threat to transport, power

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Original article by Ben Packham
The Australian – Page: 1 & 2 : 6-Sep-19

Home Affairs­ Minister Peter Dutton will release a cyber security consultation paper on 6 September. It warns of the growing threat to Australia’s critical infrastructure, including energy, tele­communications and transport networks. The paper will note that industrial plants are also vulnerable to targeted attacks from state-sponsored hackers and cyber criminals. Dutton will also call for greater co-operation between governments and business, warning of the heightened risk since the Coalition released its cyber security strategy in 2016.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, MAERSK, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED