PRIVATIZATION – GOVERNMENT POLICY – AUSTRALIA

Canberra cans plan to privatise ASIC Registry

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Original article by Joanna Mather
The Australian Financial Review – Page: 8 : 20-Dec-16

The Federal Government has decided against privatising the Australian Securities & Investments Commission (ASIC)’s registry business. The Government informed on 19 December 2016 that final bids for the business were not high enough to justify the change in the status of the registry. ASIC collected $A768 million in fees in 2015-16.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, GETUP LIMITED, COMPUTERSHARE LIMITED – ASX CPU, BOREALIS INFRASTRUCTURE MANAGEMENT INCORPORATED, TERANET, LAZARD AUSTRALIA PRIVATE EQUITY PTY LTD, VEDA GROUP LIMITED, INFORMATION SERVICES GROUP, BROOKFIELD ASSET MANAGEMENT INCORPORATED

Drums beat on $6b Snowy Hydro sale

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Original article by Ben Potter, Lucille Keen, Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 24-Aug-16

The Federal Goverment has downplayed media reports which suggested that it is considering the privatisation of Snowy Hydro as part of its strategy to balance the Budget. Snowy Hydro is estimated to be worth around $A6bn, which would value the Federal Government’s 13 per cent stake about about $A800m. The Government had rejected the National Commission of Audit’s 2014 recommendation to privatise Snowy Hydro, while a previous sale proposal in 2006 caused disunity within the Coalition.

CORPORATES
SNOWY HYDRO LIMITED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, NEW SOUTH WALES. THE TREASURY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

AMA head rejects Shorten’s Medicare scare campaign

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Original article by David Crowe, Sean Parnell
The Australian – Page: 8 : 22-Jun-16

Australian Medical Association president Michael Gannon has rejected suggestions that outsourcing the Medicare payments system would constitute the privatisation of Medicare itself. He argues that the payments system technology is outdated and needs to be overhauled. Medicare has featured prominently in the Australian Labor Party’s recent election campaigning. Gannon says the AMA supports some of Labor’s health care policies, but it does not endorse the party’s claims regarding the future of Medicare.

CORPORATES
AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN LABOR PARTY, THE ROYAL AUSTRALIAN COLLEGE OF GENERAL PRACTITIONERS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF HEALTH, ST JOHN OF GOD HOSPITAL SUBIACO INCORPORATED, ACTU

Labor forces Medicare retreat

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 : 20-Jun-16

The future of Medicare was on the agenda for both major political parties on 19 June 2016. Prime Minister Malcolm Turnbull ruled out the privatisation of Medicare or any of its services. The Federal Government had previously flagged plans to outsource Medicare’s back-office functions. However, Opposition Leader Bill Shorten claims that the Government still plans to dismantle the existing Medicare system. He has also committed to blocking a proposal to reduce bulk-billing incentive payments for pathology and radiology services.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. PRODUCTIVITY COMMISSION, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA POST, NORTHROP GRUMMAN CORPORATION, TELSTRA CORPORATION LIMITED – ASX TLS

PM plots possible sale of naval shipbuilder

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 6 : 28-Apr-16

The value of Adelaide-based ASC has risen significantly since the Federal Government announced that its shipyards will be used to build the nation’s new $A50bn submarine fleet. There is renewed speculation that the Government may consider privatising ASC, whose shipyards will also be used to build new naval frigates and patrol boats. Meanwhile, some estimates have suggested that building the submarines in Australia will increase the final cost by 30-40 per cent, although the Government believes that the cost can be reduced significantly by the time construction commences.

CORPORATES
ASC PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF FINANCE

The price was right, says Cormann

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 27-Nov-14

Shares in Medibank Private closed 2.1 per cent lower at $A2.10 on 26 November 2014, after peaking at $A2.23 on debut in the previous trading session. Federal Finance Minister Mathias Cormann believes that the pricing of the IPO was appropriate, and has benefited both taxpayers and investors who bought shares in the float. The Australian Government is widely tipped to pursue further asset sales

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEFENCE HOUSING AUSTRALIA

A lot of fizz but no pop for Medibank IPO

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Original article by Jessica Gardner, Joyce Moullakis, Vesna Poljak
The Australian Financial Review – Page: 1 & 6 : 26-Nov-14

Medibank Private’s stock closed at $A2.14 on 25 November 2014, after peaking at $A2.23 on its first day of trading. Retail investors paid $A2 per share in the $A5.7bn IPO, while institutional investors paid $A2.15. Finance Minister Mathias Cormann said the stock was priced appropriately, but Glenn Rosewall of BBY says Medibank shares were priced higher than some market watchers had anticipated. The Federal Government is considering the privatisation of more public assets

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, BBY LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. DEFENCE HOUSING AUSTRALIA, AUSTRALIA POST, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, ASX LIMITED – ASX ASX, CSL LIMITED – ASX CSL, JAPARA HEALTHCARE LIMITED – ASX JHC, NIB HOLDINGS LIMITED – ASX NHF, ALIBABA GROUP HOLDING LIMITED, NATIONAL COMMERCIAL BANK, AHM HEALTH INSURANCE, MACQUARIE CAPITAL PTY LTD, DEUTSCHE BANK AG, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED

Medibank pressure to perform

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Original article by Jessica Gardner
The Australian Financial Review – Page: 1 & 8 : 24-Nov-14

The Australian Government will gain $A5.7bn from the sale of Medibank Private, after the institutional bookbuild price was set at $A2.15 per share. Jan van der Schalk of CLSA values the health fund at between $A1.55 and $A1.64 per share, noting that Medibank’s management will face a lot of pressure to achieve results due to the high issue price for the stock. Retail investors will pay $A2 per share for Medibank stock, which will debut on the sharemarket on 25 November 2014

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, CLSA AUSTRALIA PTY LTD, ARGO INVESTMENTS LIMITED – ASX ARG, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF, JAPARA HEALTHCARE LIMITED – ASX JHC, NIB HOLDINGS LIMITED – ASX NHF, RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO

Medibank float could raise $5.8b

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Original article by Jessica Gardner, Sarah Thompson, Jake Mitchell
The Australian Financial Review – Page: 21 & 26 : 20-Nov-14

Strong demand for shares in the Medibank Private IPO has prompted the Australian Government to upgrade the indicative share price range. This was initially set at between $A1.55 and $A2, but will now be from $A2 to $A2.30. Some fund managers expect the final issue price to be set at $A2.10 per share, which would value the float at about $A5.8bn. Retail investors will pay a maximum of $A2 per share

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF FINANCE, TELSTRA CORPORATION LIMITED – ASX TLS, QR NATIONAL LIMITED

Rival hits at Medibank for no share giveaway

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Original article by Jessica Gardner
The Australian Financial Review – Page: 5 : 3-Oct-14

Westfund COO Phillip Berner believes that Medibank Private customers’ loyalty should have been rewarded in the health fund’s IPO. Medibank policyholders who pre-register for the IPO may receive a priority allocation of shares, but Berner says they should have been given free shares or some other form of compensation. He adds that some Medibank customers who are unhappy with their treatment in the privatisation may opt to switch funds

CORPORATES
MEDIBANK PRIVATE LIMITED, WESTFUND HEALTH INSURANCE, ROY MORGAN RESEARCH LIMITED, QR NATIONAL LIMITED