INFRASTRUCTURE (ECONOMICS) – GOVERNMENT POLICY – AUSTRALIA

State’s letter guaranteed $1.2b

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Original article by Lucille Keen, Ben Potter
The Australian Financial Review – Page: 10 : 20-Mar-15

Victorian Treasurer Tim Pallas says the previous state government signed a letter that was prepared by the Lend Lease-led East West Connect consortium. The letter contains a guarantee to pay more than $A1.2 billion in compensation to the consortium if the project is cancelled. Pallas accused the previous government of being too close to business. The State Government is trying to avoid paying $A1.2 billion in compensation for cancelling the toll-road project

CORPORATES
VICTORIA. DEPT OF TREASURY AND FINANCE, EAST WEST CONNECT PTY LTD, VICTORIA. LINKING MELBOURNE AUTHORITY, LEND LEASE GROUP LIMITED – ASX LLC, CLAYTON UTZ, ECOMOUV SAS

Private sector will lead the way: Birrell

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Original article by Annabel Hepworth, Andrew White
The Australian – Page: 6 : 17-Nov-14

The creation of a new global infrastructure hub is one of the key results of the Group of 20 leaders’ summit held in Brisbane on 15-16 November 2014. Mark Birrell, chair of the Federal Government’s Infrastructure Australia body, has welcomed the news and pledged his full support for the initiative. Similar comments have come from WestConnex Delivery Authority chair Tony Shepherd and IFM Invest­ors CEO Brett Himbury

CORPORATES
GROUP OF TWENTY (G-20), INFRASTRUCTURE AUSTRALIA, NEW SOUTH WALES. WESTCONNEX DELIVERY AUTHORITY, IFM INVESTORS PTY LTD, WORLD BANK, BUSINESS 20 (B20)

Infrastructure needed ‘to pick up slack’

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Original article by Glenda Korporaal, Annabel Hepworth
The Australian – Page: 17 : 20-Oct-14

An Australian Institute of Company Directors forum has heard from Kevin McCann, chair of investment banking firm Macquarie Group. He said the national economy was likely to remain subdued, and there was an urgent need for major infrastructure projects by governments to provide a stimulus as capital expenditure in sectors other than energy declines. Such an approach has already been promised by the Federal Government, and will be promoted by it at the Group of 20 (G20) leaders’ summit in November 2014

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, GROUP OF TWENTY (G-20), UNITED STATES. FEDERAL RESERVE BOARD, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, COCHLEAR LIMITED – ASX COH, RESERVE BANK OF AUSTRALIA

Hockey seeks foreign funds for assets

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Original article by David Crowe
The Australian – Page: 15 : 6-Oct-14

Staff at US investment banks Bank of America Merrill Lynch, Citigroup, Morgan Stanley and JP Morgan Chase & Company will on 6 and 7 October 2014 hear from Australian Treasurer Joe Hockey. He is keen to attract major investors from the US for planned privatisation moves by state governments. The Federal Government is encouraging them to sell assets so that the funds can be reallocated to new infrastructure. Hockey will also meet with News Corporation executive chair Rupert Murdoch and Federal Reserve Bank of New York president William Dudley

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NEWS CORPORATION – ASX NWS, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, CITIGROUP INCORPORATED, MORGAN STANLEY AND COMPANY INCORPORATED, JP MORGAN CHASE AND COMPANY, POWERLINK PTY LTD, ENERGEX LIMITED, ERGON ENERGY CORPORATION LIMITED, IFM INVESTORS PTY LTD, HASTINGS FUNDS MANAGEMENT LIMITED, CHINA MERCHANTS GROUP, TAWREED INVESTMENTS LIMITED, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, FEDERAL RESERVE BANK OF NEW YORK

Private sector infrastructure push

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Original article by Annabel Hepworth
The Australian – Page: 22 : 22-Sep-14

Business supports investment in Australian infrastructure by the private sector. Commonwealth Bank of Australia CEO Ian Narev said that bold action was needed on infrastructure. Telstra CEO David Thodey said that asset recycling would benefit Australia. On 21 September 2014, the Group of Twenty (G20) meeting of finance ministers and central bank governors said that more was needed to reach a target of adding two per cent to global economic growth

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TELSTRA CORPORATION LIMITED – ASX TLS, GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF THE TREASURY, INTERNATIONAL MONETARY FUND, WESFARMERS LIMITED – ASX WES, ENERGY AUSTRALIA PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, FINANCIAL STABILITY BOARD

States under pressure to privatise energy networks

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Original article by David Crowe
The Australian – Page: 6 : 19-Sep-14

The Australian Government is pushing ahead with its agenda to encourage the states to invest in infrastructure with the proceeds of asset sales. It will provide the Queensland Government with a $A1bn incentive if the state proceeds with the sale of electric power assets. However, Federal Treasury Joe Hockey says the incentive will not be available indefinitely and other states may receive the payment if Queensland does not act promptly

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, QUEENSLAND. TREASURY, ERGON ENERGY CORPORATION LIMITED, ENERGEX LIMITED, POWERLINK PTY LTD, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND

Map out roadwork: Transurban

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Original article by Damon Kitney, Mitchell Neems
The Australian – Page: 23 : 6-Aug-14

Toll roads operator Transurban has announced a 2013-14 full-year net profit increase of 44.5% to $A252.2m. The 12-month distribution is $A0.35, and a forecast of $A0.39 for the 2014-15 payout has also been confirmed. On 5 August 2014 the stock closed 0.9% lower at $A7.58. CEO Scott Charlton said the company applauded pledges by the State Governments of New South Wales, Victoria and Queensland to improve their roads infrastructure, but it was also calling for more co-ordination that involved the Federal Government as well

CORPORATES
TRANSURBAN GROUP LIMITED – ASX TCL, TRANSURBAN CITY LINK LIMITED, WESTCONNEX, HILLS MOTORWAY GROUP LIMITED, QUEENSLAND MOTORWAYS LIMITED, UBS HOLDINGS PTY LTD, BANK OF AMERICA CORPORATION, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE EQUITIES LIMITED, MACQUARIE BANK LIMITED – ASX MBL

IA boss slams asset recycling delays

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Original article by Mark Ludlow
The Australian Financial Review – Page: 3 : 25-Jul-14

Infrastructure Australia chairman Mark Birrell has expressed his support for the Australian Government’s asset recycling policy. The Federal Government wants the states to use the proceeds from privatisation for new infrastructure projects. Birrell has called on the Senate to pass the $A5 billion asset recycling plan, which the Government intends to introduce in Parliament in September 2014

CORPORATES
INFRASTRUCTURE AUSTRALIA|INFRASTRUCTURE PARTNERSHIPS AUSTRALIA|QUEENSLAND. TREASURY|NEW SOUTH WALES TREASURY. OFFICE OF FINANCIAL MANAGEMENT|NEW SOUTH WALES TREASURY. OFFICE OF STATE REVENUE|COUNCIL OF AUSTRALIAN GOVERNMENTS

Hockey avoids asset recycling restriction

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 20-Jun-14

The Australian Government’s asset recycling policy will reward state governments for privatisations if they use the gains to invest in new infrastructure. They will be paid a Federal Government contribution of 15%, and Treasurer Joe Hockey has asked the Commonwealth Grants Commission to ignore this bonus when it allocates goods and services tax revenue. He will also rely on appropriation from general revenue for the scheme, meaning he does not need to seek legislative approval in the hostile Senate

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS