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Thursday, June 29, 2017
Apollo Tourism and Leisure Ltd (ATL):
Jamie Pherous, The Financial Review Rich List member, has overseen his own successful initial public offering with Corporate Travel Management,which has proven to be one of the better ASX floats in a decade. He holds about 21 per cent of the stock, having listed the company on the ASX in mid-December 2010 at $1 per share and with a market capitalisation of only $70 million. CTM is now a giant in its industry, closing in on a value of $2.5 billion. Its shares are up 30 per cent since January 1 and have risen about 73 per cent in the past 12 months. He has stakes in other recent successful floats. Pherous is among the top 20 shareholders in Apollo Tourism & Travel- the company listed on the ASX in November 2016 at $1 per share. The shares have since risen 42 per cent, and the management announced a profit upgrade in May for the current financial year.
Crown Resorts Limited (CWN):
Lawrence Ho, the gambling scion and former business partner of James Packer, said Crown Resorts would have faced regulatory issues in Macau from the conviction of its staff in mainland China and said this was a factor in the break-up of their joint venture. Mr Ho’s comments suggest he was uncomfortable with Crown remaining his partner in Macau and said any convictions in China would cause the Australian company problems when bidding for a casino licence in Japan. ‘‘Let’s say if they were convicted then it would raise issues for Japan ... but especially for Macau, since Macau is part of China,’’ Mr Ho told the June issue of trade magazine Inside Asian Gaming . Mr Ho made his comments before 19 current and former Crown staff members were convicted of promoting gambling at a trial in Shanghai on Monday. But his comments throw a new light on the hasty exit of Crown from its highly lucrative joint venture in Macau.
Qantas Airways Limited (QAN); Virgin Australia Holdings Limited (VAH):
It would take a brave and potentially stupid foreign carrier to try and break into Australia’s cosy domestic aviation market. Qantas now has deep pockets and a track record of aggressively defending its market share. Virgin is in a more vulnerable financial position but has spent billions of dollars cementing its position as the country’s second-biggest domestic carrier and would not give that up without a fight. The possibility of a third airline having a crack at the domestic aviation market was something raised by global ratings agency S&P Global Ratings in its latest analysis of the Australian aviation sector. S&P says the sector is not profitable enough at the moment to make it attractive for foreign carriers but that could change if airline pricing began to resemble that of a traditional duopoly.
(Source: AIMS)
Thursday, June 29, 2017
Apollo Tourism and Leisure Ltd (ATL):
Jamie Pherous, The Financial Review Rich List member, has overseen his own successful initial public offering with Corporate Travel Management,which has proven to be one of the better ASX floats in a decade. He holds about 21 per cent of the stock, having listed the company on the ASX in mid-December 2010 at $1 per share and with a market capitalisation of only $70 million. CTM is now a giant in its industry, closing in on a value of $2.5 billion. Its shares are up 30 per cent since January 1 and have risen about 73 per cent in the past 12 months. He has stakes in other recent successful floats. Pherous is among the top 20 shareholders in Apollo Tourism & Travel- the company listed on the ASX in November 2016 at $1 per share. The shares have since risen 42 per cent, and the management announced a profit upgrade in May for the current financial year.
Crown Resorts Limited (CWN):
Lawrence Ho, the gambling scion and former business partner of James Packer, said Crown Resorts would have faced regulatory issues in Macau from the conviction of its staff in mainland China and said this was a factor in the break-up of their joint venture. Mr Ho’s comments suggest he was uncomfortable with Crown remaining his partner in Macau and said any convictions in China would cause the Australian company problems when bidding for a casino licence in Japan. ‘‘Let’s say if they were convicted then it would raise issues for Japan ... but especially for Macau, since Macau is part of China,’’ Mr Ho told the June issue of trade magazine Inside Asian Gaming . Mr Ho made his comments before 19 current and former Crown staff members were convicted of promoting gambling at a trial in Shanghai on Monday. But his comments throw a new light on the hasty exit of Crown from its highly lucrative joint venture in Macau.
Qantas Airways Limited (QAN); Virgin Australia Holdings Limited (VAH):
It would take a brave and potentially stupid foreign carrier to try and break into Australia’s cosy domestic aviation market. Qantas now has deep pockets and a track record of aggressively defending its market share. Virgin is in a more vulnerable financial position but has spent billions of dollars cementing its position as the country’s second-biggest domestic carrier and would not give that up without a fight. The possibility of a third airline having a crack at the domestic aviation market was something raised by global ratings agency S&P Global Ratings in its latest analysis of the Australian aviation sector. S&P says the sector is not profitable enough at the moment to make it attractive for foreign carriers but that could change if airline pricing began to resemble that of a traditional duopoly.
(Source: AIMS)
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