STRATEGIC PLANNING – AUSTRALIA

Lew unveils ambitous Premier overhaul

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Original article by Eli Greenblat
The Australian – Page: 13 & 16 : 27-Mar-24

Premier Investments has posted a 2023-24 interim net profit of $177.2m, which is 1.7 per cent higher than previously. Sales rose by 2.9 per cent to $890m, while shareholders will receive a record half-year dividend of $0.63 per share. Meanwhile, chairman Solomon Lew has revealed plans to spin off the Smiggle stationery brand and the Peter Alexander sleepwear business into separately-listed companies in 2025. The proposed demerger of the two flagship plans follows a review of Premier Investments’ assets that was commissioned last year.

CORPORATES
PREMIER INVESTMENTS LIMITED – ASX PMV, SMIGGLE PTY LTD, PETER ALEXANDER SLEEPWEAR PTY LTD

Fortescue on track to hit 2030 greening target

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Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 18-Oct-23

Fortescue Metals Group director Larry Marshall says he agreed to join the iron ore producer’s board in August after being satisfied that the target of decarbonising its mining operations by 2030 is achievable. Marshall adds that the technology that is needed to decarbonise mining is in place and simply needs to be built. Solar and wind power will be a key focus of Fortescue’s decarbonisation strategy; the company estimates that it will require 1,000 megawatts of capacity of both forms of renewal energy.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

BHP to sit out battle for miner Teck

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Original article by Peter Ker
The Australian Financial Review – Page: 23 : 17-May-23

BHP CEO Mike Henry addressed the annual Bank of America Merrill Lynch conference in Barcelona on Tuesday. He said the resources group will maintain a "disciplined" approach to mergers and acquisitions, and its focus will be on internal growth options such as nickel, copper and the Jansen potash project in Canada. Sources have indicated that BHP is unlikely to enter any bidding war for Teck Resources, given that its copper mines are the only assets that would be of real interest. BHP would not want to increase its exposure to coking coal via the acquisition of Teck, given that it is already trying to sell some existing mines.

CORPORATES
BHP GROUP LIMITED – ASX BHP, TECK RESOURCES LIMITED

Suncorp puts bank into play

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Original article by Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 16 : 27-Jun-22

Suncorp Group may abandon its ‘bancassurance’ model and pursue a sale or demerger of its banking division. Suncorp has engaged the services of investment bank Barrenjoey Capital Partners to consider options for its banking arm, which would allow the listed group to focus on its insurance division. Analysts have suggested that the recent downturn in Australian bank stocks could make selling Suncorp Bank more attractive than listing it on the sharemarket. Suncorp’s own share have fallen by one per cent over the last year, while the S&P/ASX 200 has shed 10 per cent.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, SUNCORP BANK, BARRENJOEY CAPITAL PARTNERS PTY LTD, STANDARD AND POOR’S ASX 200 INDEX

Fortescue plans huge wind and solar farm

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Original article by Nick Evans
The Australian – Page: 18 : 10-Feb-22

Fortescue Metals Group’s clean energy arm has revealed plans to build a wind and solar energy farm to provide renewable energy for the Eliwana iron ore mine in the Pilbara. The proposed renewable energy hub will be partially built on the Uaroo pastoral station, which is owned by a subsidiary of Andrew Forrest’s private investment arm, Tattarang. Fortescue Future Industries plans to commence work on the project as soon as it receives environmental approval from the Western Australian government.

CORPORATES
FORTESCUE FUTURE INDUSTRIES PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG, TATTARANG PTY LTD

Nine boss doesn’t see need to buy WIN TV

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Original article by Miranda Ward
The Australian Financial Review – Page: 23 : 17-Nov-21

Nine Entertainment Company has ruled out following rival Seven West Media in seeking to acquire its regional television affiliate. Nine CEO Mike Sneesby says the media group is gaining significant benefits from its "very close commercial partnership" with WIN Corporation without the need to buy the regional affiliate. Nine recently revealed plans to integrate the two companies’ sales teams, just months after the new affiliation agreement began in mid-2021. Sneesby has also flagged a push to increase Nine’s digital presence across its business.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC,NINE NETWORK AUSTRALIA LIMITED,WIN CORPORATION PTY LTD,SEVEN WEST MEDIA LIMITED – ASX SWM,PRIME MEDIA GROUP LIMITED – ASX PRT

Fortescue sets ambitious new hydrogen goals

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Original article by Nick Evans
The Australian – Page: 16 : 6-Oct-21

Iron ore miner Fortescue Metals Group has set a net-zero target date of 2040 for its scope 3 emissions. Fortescue’s plans to become a major player in the global hydrogen industry will be central to achieving the ambitious target. Buyers of Fortescue’s iron ore account for about 98 per cent of the group’s scope 3 emissions; this equates to around 246.1 million tonnes of carbon dioxide equivalent in 2020-21. Fortescue has also set a target of 2030 for its mining operations to become carbon-neutral, while it has outlined plans to decarbonise its fleet of ore carriers.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

AGL Energy savaged after demerger given green light

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Original article by Perry Williams
The Australian – Page: 13 & 16 : 1-Jul-21

AGL Energy has incurred the biggest one-day fall in its share price since 2007 after revealing details of its proposed restructuring and demerger. AGL will be rebranded as Accel Energy and retain its coal-fired power plants, while the group’s gas and electricity retailing business will be spun off into a listed company to be called AGL Australia. Acting CEO Graeme Hunt believes that AGL’s shares were sold down in response to changes to its dividend policy and revised earnings guidance, rather than the demerger proposal. Hunt will become CEO of Accel, while chief customer officer Christine Corbett will be CEO of the new AGL. The demerger is subject to shareholder approval.

CORPORATES
AGL ENERGY LIMITED – ASX AGL

Challenge for AMP over pay, fund deal

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Original article by Joyce Moullakis
The Australian – Page: 17 : 26-Apr-21

AMP’s proposal to spin off its private markets division is set to be a key focus of its virtual AGM on 30 April. Brett Le Mesurier of Velocity Trade has downgraded his share price target for AMP in response to the demerger proposal, which followed AMP’s decision to terminate negotiations with Ares Management over a full or partial sale of the business. Meanwhile, two proxy advisers have recommended that shareholders vote in favour of AMP’s remuneration report, while ISS has called for investors to reject it.

CORPORATES
AMP LIMITED – ASX AMP, ARES CAPITAL MANAGEMENT LLC, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED

Westpac could halve its network: analysts

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Original article by Richard Gluyas
The Australian – Page: 17 : 22-Apr-21

Brendan Sproules of Citigroup says Westpac could significantly reduce costs by rationalising its network of bank branches and divesting non-core assets. Westpac currently has 958 branches nationwide, but Citigroup’s modelling suggests that there is scope to reduce this to just 518. Westpac’s chief financial officer Michael Rowland will outline a cost-cutting strategy when the bank releases its interim results on 3 May.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, CITIGROUP PTY LTD