INVESTMENTS

Syrah’s battery hopes hit US hurdle

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 11-Jan-18

Australian-listed Syrah Resources is confident that it will be able to secure a new site for its proposed graphite beneficiation plant in the US. The South Tangipahoa Parish Port Commission has terminated Syrah’s lease over the site in New Orleans where it had proposed to build the plant, after local residents expressed concern about the plant’s potential impact on air and water quality. Syrah will consider other sites in the state of Louisiana, and it remains hopeful of achieving its previously-stated target for commencing production.

CORPORATES
SYRAH RESOURCES LIMITED – ASX SYR, SOUTH TANGIPAHOA PARISH PORT COMMISSION, INCITEC PIVOT LIMITED – ASX IPL, BHP BILLITON LIMITED – ASX BHP, HILL END GOLD LIMITED – ASX HEG

Backlash as foreign buyers flee

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Original article by Matthew Cranston, Larry Schlesinger
The Australian Financial Review – Page: 1 & 29 : 11-Jan-18

South Australia was the only state that did not record a downturn in sales of residential properties to foreign buyers in the December quarter, according to a new ANZ/Property Council survey. Property developers say factors such as restrictions on access to credit and higher taxes on foreign buyers have contributed to the downturn in demand, and prompted some developers to withdraw from the residential market. Meriton founder Harry Triguboff says his company is having to resell many apartments that had been pre-sold to Chinese buyers.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, MERITON APARTMENTS PTY LTD, REALESTATE.COM.AU, REA GROUP LIMITED – ASX REA, CROWN GROUP PTY LTD, UBS HOLDINGS PTY LTD, AUSTRALIAN LABOR PARTY, LEND LEASE GROUP LIMITED – ASX LLC, AUSTRALIAN BUREAU OF STATISTICS

Mumbrella now US owned after $8m sale

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Original article by Dana McCauley
The Australian – Page: 23 : 23-Dec-17

US firm Diversified Communications has acquired Mumbrella for an undisclosed amount. Tim Burrowes, who co-founded the marketing and media website in 2008, said he planned to continue in his role as content director, and that the price that Diversified Communications had paid for Mumbrella was "good", but not enough to take early retirement on. Mumbrella generated revenue of $A7 million in 2016-17, allowing it to make its first $A1 million profit, and it is believed Diversified Communications paid around $A8 million for it. Mumbrella makes most of its money from trade shows, and Burrowes says Diversified Communication’s ownership of it will help it to grow that side of its business.

CORPORATES
MUMBRELLA, DIVERSIFIED COMMUNICATIONS

Oil Search reassures on Alaskan project funding

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 15-Dec-17

Oil Search CEO Peter Botten says a recent $US400m deal to acquire stakes in several oil fields in Alaska was necessary due to the expected long delay in commencing each phase of its LNG project in Papua New Guinea. He has stressed that the investment in Alaska will have no impact on its commitment to the PNG LNG project. He has also indicated that Oil Search will not need to undertake an equity raising to finance either project.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, REPSOL SA

Lowys accept $33bn takeover

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Original article by Ben Wilmot, Turi Condon
The Australian – Page: 1 & 4 : 13-Dec-17

Paris-based Unibail-Rodamco will own a portfolio of 104 shopping centres worldwide after striking a deal to acquire Westfield Corporation for $US24.7bn ($A32.76bn). The deal comprises Westfield’s 35 shopping centres in the US and the UK, but it does not include Westfield-brand shopping centres in Australia, which are owned by the separately-listed Scentre Group. Unibail-Rodamco intends to rebadge its existing portfolio of shopping centres with the Westfield brand.

CORPORATES
WESTFIELD CORPORATION – ASX WFD, UNIBAIL-RODAMCO, SCENTRE GROUP – ASX SCG, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT

Suitor plots east coast for AWE’s gas

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 11-Dec-17

Kevin Gao, the Australian business manager of China Energy Reserve & Chemicals Group, stresses that supplying the Western Australian gas market will be the Chinese group’s priority if its takeover bid for AWE Limited succeeds. He has downplayed concerns that CERCG aims to primarily supply the Chinese market via its $A463m hostile bid. Gao adds that gas from the Waitsia gas field in the Perth Basin could potentially be shipped to Australia’s east coast if supply is surplus to demand in WA. CERCG is offering $A0.73 per share for AWE.

CORPORATES
AWE LIMITED – ASX AWE, CHINA ENERGY RESERVE AND CHEMICAL GROUP, UBS HOLDINGS PTY LTD, HIGHBURY PARTNERSHIP PTY LTD, ARGONAUT SECURITIES PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Amazon just warming up, warn analysts

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 20 : 7-Dec-17

Melanie Sanders of Bain & Company has forecast that e-commerce giant Amazon will boast Australian sales of between $A8bn and $A10bn within 5-10 years, making it the nation’s sixth-biggest retailer. Consumers have criticised the limited product range offered by Amazon when it officially launched in Australia, but Sanders argues that the company probably opted for a low-key launch in order to test its systems. Retail industry analysts have warned Australian retailers against becoming complacent based on Amazon’s local launch on 5 December, while Amazon itself says its sales for the day were higher than for any previous country launch.

CORPORATES
AMAZON.COM INCORPORATED, BAIN AND COMPANY, UGAM, WORLD FIRST AUSTRALIA, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, WESFARMERS LIMITED – ASX WES, KMART AUSTRALIA LIMITED, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, COLES SUPERMARKETS AUSTRALIA PTY LTD, BUNNINGS GROUP LIMITED, ALDI STORES SUPERMARKETS PTY LTD, METCASH LIMITED – ASX MTS, IGA, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Local retailers brace as Amazon opens

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Original article by Chris Griffith, Eli Greenblat
The Australian – Page: 2 : 5-Dec-17

The Australian retail website of e-commerce giant Amazon will be officially launched on 5 December. Consumers will be able to purchase a range of goods at significantly lower prices, with discounts of up to 30 per cent on some clothing and toy brands. Consumers will be able to purchase goods directly from Amazon or from merchants that sell their goods via the Amazon Marketplace. Consumers who order goods worth more than $A49 in total will receive free delivery. Amazon is forecast to gain up to $A200m worth of local sales at Christmas.

CORPORATES
AMAZON.COM INCORPORATED, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, OFFICEWORKS SUPERSTORES PTY LTD, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, BIG W DISCOUNT STORES, BABY BUNTING GROUP LIMITED – ASX BBN, REBEL SPORT LIMITED, MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CALVIN KLEIN INCORPORATED, TOMMY HILFIGER AUSTRALIA PTY LTD, FISHER-PRICE INCORPORATED, BONDS INDUSTRIES LIMITED, PUMA AUSTRALIA, LEGO AUSTRALIA PTY LTD, SOL-SANA, L’OREAL AUSTRALIA PTY LTD, SONOS INCORPORATED, SUNBEAM CORPORATION LIMITED

Aristocrat Leisure lands games giant Big Fish for $1.3 billion

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Original article by John Stensholt
The Australian Financial Review – Page: 19 : 1-Dec-17

Aristocrat Leisure’s push to reduce its reliance on poker machine sales continued on 30 November with its announcement that it had acquired US social gaming firm Big Fish Gaming for $US900 million ($A1.3 billion). The purchase will increase the percentage of its revenue that comes from digital sources to around 38 per cent, and follows its August purchase of Israeli-based game developer Plarium. Aristocrat also handed down its 2017 fiscal year results on 30 November, reporting a net profit of $A495 million, up 41 per cent, earned on revenue of about $A2.4 billion.

CORPORATES
ARISTOCRAT LEISURE LIMITED – ASX ALL, BIG FISH GAMING INCORPORATED, PLARIUM LLC, CHURCHILL DOWNS, MOODY’S INVESTORS SERVICE INCORPORATED, VIDEO GAMING TECHNOLOGIES INCORPORATED

Amazon tells of $700m Australia push

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 30 : 14-Nov-17

US e-commerce giant will establish an Australian presence "very soon", according to country manager Rocco Braeuniger. He says both the Amazon Marketplace and its own retail platform will be launched in Australia, with the range of product categories it offers to be progressively expanded. Braeuniger has stressed that customer service will be a focus for Amazon, which intends to invest $A700m in its Australian business over five years.

CORPORATES
AMAZON.COM INCORPORATED, HIP CUB, KOALA SAFE PTY LTD, GOBE PTY LTD