SINGAPOREAN – AUSTRALIA

Optus parent writes off billions

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 30-Apr-24

Singapore Telecommunications has announced a $S3.1 billion ($3.5 billion) writedown, most of which relates to its Australian subsidiary Optus. However, its potential impact has been offset by Optus’s agreement with TPG Telecom to share regional telecommunications networks; the agreement will see TPG pay Optus service fees of $1.59 billion over 11 years. Optus will use that money to accelerate its investment in 5G networks and complete them two years faster than foreshadowed. TPG’s deal with Optus comes after competition regulators rejected a $1.8 billion deal proposed by TPG and Telstra in 2023 to share networks and spectrum.

CORPORATES
SINGAPORE TELECOMMUNICATIONS LIMITED, SINGTEL OPTUS PTY LTD, TPG TELECOM LIMITED – ASX TPG, TELSTRA CORPORATION LIMITED – ASX TLS

Lendlease sells Adelaide mall stake for $670m

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Original article by Nick Lenaghan
The Australian Financial Review – Page: Online : 8-Nov-19

Lendlease has sold its 50 per cent stake in Adelaide’s Westfield Marion to Singapore-listed SPH REIT for $670 million. Westfield Marion is one of the largest shopping centres in Australia and has the 13th highest turnover, while Scentre Group is the centre’s co-owner. SPH REIT is sponsored by media conglomerate Singapore Press Holdings, while the purchase was brokered by Colliers International and CBRE.

CORPORATES
LENDLEASE GROUP – ASX LLC, SPH REIT, SCENTRE GROUP – ASX SCG, SINGAPORE PRESS HOLDINGS LIMITED, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, CBRE PTY LTD

Tackle Telstra or we all pay, says Optus boss

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Original article by Mitchell Bingemann
The Australian – Page: 23 : 22-Oct-14

Dominant Australian telco Telstra will gain some $A90bn by 2045 from its role in the national broadband network. Paul O’Sullivan, CEO of main rival Singtel Optus, is calling on the Federal Government to impose rules on Telstra regarding how the funds can be used. He also wants the telco to be separated into wholesale and retail businesses, and argues that failure to do so will erode competition as well as jeopardise investment by groups such as the Singapore-based parent of Optus. The current infrastructure spending of Optus worth up to $A1.2bn annually will fall if its fixed-line operations suffer a further decline

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT, SINGTEL OPTUS PTY LTD, IINET LIMITED – ASX IIN, TPG TELECOM LIMITED – ASX TPM, NBN CO LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FRONTIER ECONOMICS PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS, BT PLC

Goodman loss unlikely to derail Wilmar bid

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Original article by Blair Speedy
The Australian – Page: 19 : 14-Aug-14

Goodman Fielder has announced a 2013-14 full-year loss of $A405m, due to provisioning worth $A358m in the baked products and grocery units that brings the total writedowns since 2010-11 to $A1.2bn. However experts do not see the result as likely to influence Singapore-based takeover suitor Wilmar and partner First Pacific, which are offering $A0.675 a share for the Australian-listed company. The initial bid had been $A0.65, and was sweetened to $A0.70 to gain access for due diligence before being cut back again. On 13 August 2014 the stock closed $A0.01 lower at $A0.63

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, DEUTSCHE BANK AG, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, FIRST PACIFIC COMPANY LIMITED