INVESTMENTS

Bauer takes a Nova approach to sector entry

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 26 : 12-Oct-15

Germany-based Bauer Media Group is said to still be keen to acquire commercial radio stations in Australia, after being rebuffed by Nova Entertainment in 2014. Bauer is believed to have made an indicative offer of about $A450m to acquire Nova, which is owned by Lachlan Murdoch. Bauer paid $A525m for ACP in 2012, and has since discontinued a number of print magazines.

CORPORATES
BAUER MEDIA KG, NOVA ENTERTAINMENT PTY LTD, ILLYRIA PTY LTD, ACP MAGAZINES LIMITED, DAILY MAIL AND GENERAL TRUST PLC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, SBS DISCOVERY RADIO, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

ANZ signals push into NSW home lending

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Original article by Jonathan Shapiro, James Eyers
The Australian Financial Review – Page: 1 & 11 : 12-Oct-15

Increasing its share of the home loan market in New South Wales will be a priority for the ANZ Bank under new CEO Shayne Elliott, who will succeed Mike Smith in early 2016. Elliott also says the growing shift to the use of mobile devices for banking represents both a challenge and an opportunity for the banking sector in terms of engaging with customers. Meanwhile, ANZ chairman David Gonski says the group will review its Asian strategy under Elliott.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, PT PANIN BANK, AMBANK BERHAD, BANK OF TIANJIN COMPANY LIMITED, SHANGHAI RURAL COMMERCIAL BANK, MACQUARIE GROUP LIMITED – ASX MQG, ESANDA FINANCE CORPORATION LIMITED

Japanese Asahi buys Australian craft beer brewer Mountain Goat

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Original article by Jared Lynch
The Australian Financial Review – Page: 17 : 29-Sep-15

Japanese beverage company Asahi has acquired Australian boutique brewer Mountain Goat for an undisclosed sum. Mountain Goat was established by Cam Hines and David Bonighton in 1997. It employs about 25 full-time staff and 20 casual workers at breweries in Richmond and Laverton in Victoria.

CORPORATES
ASAHI BREWERIES LIMITED, MOUNTAIN GOAT BEER PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, IBISWORLD PTY LTD, KIRIN AUSTRALIA PTY LTD

Graincorp up on PM change

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Original article by Jared Lynch
The Australian Financial Review – Page: 30 : 17-Sep-15

Shares in GrainCorp have risen by nearly nine per cent since Malcolm Turnbull became Prime Minister. There has been speculation that Archer Daniels Midland could make a new takeover bid for GrainCorp due to the leadership change. Archer’s previous bid in 2013 was blocked by Treasurer Joe Hockey on national interest grounds. Belinda Moore of Morgans Financial attributes the share price rally to expectations that the Federal Government will be more open to foreign investment under Turnbull.

CORPORATES
GRAINCORP LIMITED – ASX GNC, ARCHER DANIELS MIDLAND COMPANY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, MORGANS FINANCIAL LIMITED, ELLERSTON CAPITAL PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, LIBERAL PARTY OF AUSTRALIA

Incitec predicts further growth in US, China

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Original article by Jared Lynch
The Australian Financial Review – Page: 24 : 16-Sep-15

Incitec Pivot CEO James Fazzino says that the US will account for around 50 per cent of the group’s earnings when its ammonia plant in Louisiana is fully operational. He notes that US shale gas prices have fallen sharply since Incitec decided to proceed with the plant, adding that the Louisiana facility provides investors with a "compelling" reason to buy the group’s shares. Fazzino also remains upbeat about the outlook for the Chinese economy.

CORPORATES
INCITEC PIVOT LIMITED – ASX IPL, UBS HOLDINGS PTY LTD, CHS, CF INDUSTRIES HOLDINGS INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Chinese retreat from property in Australia

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Original article by Lisa Murray, Angus Grigg
The Australian Financial Review – Page: 3 : 15-Sep-15

The introduction of tighter foreign exchange rules in China has had a negative effect on Chinese investments in Australia’s property sector. Fewer Chinese are now able to apply for the Federal Government’s Significant Investor Visa (SIV) scheme. Eligibility is restricted to those able to invest at least $A5 million in Australian assets such as venture capital and emerging companies. Only seven SIV applications have been made since 1 July 2015.

CORPORATES
PEOPLE’S BANK OF CHINA, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED

Chinese face big losses as $A falls

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 39 : 14-Sep-15

Basis Point estimates that the sharp decline in the value of the Australian dollar since late 2014 has cost Chinese investors about $A12bn. Basis Point’s David Chin notes that investors in residential property who have already settled the deal will have lost money. However, investors in off-the-plan apartments that have not yet been settled will benefit from the currency’s decline.

CORPORATES
BASIS POINT CONSULTING, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Woolworths Holdings looks to Kelly for lift

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Original article by Sue Mitchell
The Australian Financial Review – Page: 18 : 11-Sep-15

Former Westpac CEO Gail Kelly will become a non-executive director of Woolworths Holdings on 1 October 2015. Kelly’s appointment is part of the South African group’s push to become one of the top retailers in the southern hemisphere. Australia accounts for about 40 per cent of Woolworths’ revenue, and its local assets include David Jones and Country Road. It also owns the Kirkcaldie & Staines department store in New Zealand.

CORPORATES
WOOLWORTHS HOLDINGS LIMITED, DAVID JONES LIMITED, COUNTRY ROAD LIMITED, KIRKCALDIE AND STAINS, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, NEDBANK

Chinese investors lose $12b with Aussie’s fall

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Original article by Rose Powell
The Australian Financial Review – Page: 27 : 10-Sep-15

Data shows that Chinese investors have injected some $A92.6 billion into the Australian economy over the last three years. However, the Australian dollar’s 34 per cent slump since the end of 2012 is estimated to have reduced the value of Chinese investments in the residential property market and resources groups by 30 per cent. This equates to a monetary loss of $A12bn.

CORPORATES
BASIS POINT CONSULTING, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, STANDARD AND POOR’S ASX ALL RESOURCES INDEX

Lower $A will intensify two-tier property market

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 7 : 4-Sep-15

The lower Australian dollar may lead to greater interest in Australian property from foreign buyers and, consequently, to higher prices. Valuer Herron Todd White says the importance of local demand is diminishing. Real estate developers concentrate their marketing efforts on overseas investors. This trend is clearly visible in unit developments in Sydney such as Zetland, Waterloo, Rosebery, Mascot, Botany, Hurstville and Wolli Creek.

CORPORATES
HERRON TODD WHITE AUSTRALIA PTY LTD, DEUTSCHE BANK AG