Desane Group Holdings Limited (DGH):
ASX-listed developer Desane has rejected the NSW Roads and Maritime Services’ $18.4 million to compulsorily acquire its 5200sqm residential site at 68-72 Lilyfield Road, Rozelle in inner west Sydney for the WestConnex project. Desane lodged a statutory claim for compensation for in excess of $100 million for the site which can yield 200 apartments. RMS said it had been in discussions with Desane since August 2016.
Downer EDI Limited (DOW); Spotless Group Holdings Limited (SPO):
Downer EDI has extended its $1.2 billion takeover bid for Spotless for the seventh time as its stake in the services group inches towards 90 per cent. Downer said yesterday it would extend the closing date of the offer until August 14, unless it is further extended. The contractor now owns 86.7 per cent of Spotless, but remains short of the 90 per cent it needs to compulsorily acquire the remaining Spotless shares.
FAR Limited (FAR); Woodside Petroleum Limited (WPL):
Woodside Petroleum has notched up a third gas discovery off the coast of Myanmar, supporting its ambitions to fast-track the development of a commercial project to supply either the local market or to be piped to Thailand or China. The Pyi Thit-1 well, which was drilled to a total depth of more than 4.5 kilometres, lies close to a discovery made early last year in the southern part of Woodside’s extensive acreage in the Rakhine Basin, Woodside’s Senegal exploration venture has also had a success, finding oil at the SNE North-1 well drilled at the Sirius prospect. Junior partner FAR Ltd, which is disputing Woodside’s entry into the venture, said the result has ‘‘positive implications’’ for extending the size of the field to the north.
Westpac Banking Corporation (WBC); ZipMoney Limited (ZML):
The chief executive of ASX-listed buy-nowpay-later firm ZipMoney says its $40 million deal with Westpac is ‘‘validation that fintech is here to stay’’ with hopes that the company can create similar relationships with the other big four banks. The deal announced on Monday will see Westpac invest $40 million upfront to explore using ZipMoney’s products and services across its payments network. A further $8 million was granted to Westpac in the form of performance options. ‘‘We’d love to partner with all the banks where we see it makes sense. For us our ambitions are much more broad. They are really around the full suite of financial services products for millennials. But at the same time the banks are sitting on great infrastructure that we can access,’’ said chief executive Larry Diamond.
Yancoal Australia Limited (YAL):
Yancoal Australia has kicked off its hunt for brave listed equities investors with a three- to five-year view and willing to back its Hunter Valley coal expansion story. It’s understood Yancoal and its brokers met fund managers in Singapore on Monday, on day one of an investor roadshow seeking to find institutional backers for its $US2.5 billion equity raising. The pitch is all about creating Australia’s third-largest coal owner and largest pure-play coal producer, with three thermal coal mines in Australia and a sustainable capital structure to support future growth.
Commonwealth Bank of Australia (CBA):
Commonwealth Bank of Australia is considering using new software to improve the way it monitors suspicious activity throughout the bank, suggesting the money-laundering scandal could be a tipping point that breaks down CBA’s insular approach to technology development. With AUSTRAC suing CBA for failures in identifying suspect deposits, the bank has been exploring how new regulatory technology being developed outside the bank might be incorporated into its surveillance systems to make ‘‘suspicious matter reporting’’ and account monitoring more reliable. CBA sought a meeting with three members of the new RegTech Association six weeks ago to get a briefing on developments in the niche area, where new technologies are being developed to identify unusual transaction patterns, provide staff with collaboration tools and enhance quality of data feeding into its system – all areas where the AUSTRAC case reveals significant shortcomings at the bank.
(Source: AIMS)
ASX-listed developer Desane has rejected the NSW Roads and Maritime Services’ $18.4 million to compulsorily acquire its 5200sqm residential site at 68-72 Lilyfield Road, Rozelle in inner west Sydney for the WestConnex project. Desane lodged a statutory claim for compensation for in excess of $100 million for the site which can yield 200 apartments. RMS said it had been in discussions with Desane since August 2016.
Downer EDI Limited (DOW); Spotless Group Holdings Limited (SPO):
Downer EDI has extended its $1.2 billion takeover bid for Spotless for the seventh time as its stake in the services group inches towards 90 per cent. Downer said yesterday it would extend the closing date of the offer until August 14, unless it is further extended. The contractor now owns 86.7 per cent of Spotless, but remains short of the 90 per cent it needs to compulsorily acquire the remaining Spotless shares.
FAR Limited (FAR); Woodside Petroleum Limited (WPL):
Woodside Petroleum has notched up a third gas discovery off the coast of Myanmar, supporting its ambitions to fast-track the development of a commercial project to supply either the local market or to be piped to Thailand or China. The Pyi Thit-1 well, which was drilled to a total depth of more than 4.5 kilometres, lies close to a discovery made early last year in the southern part of Woodside’s extensive acreage in the Rakhine Basin, Woodside’s Senegal exploration venture has also had a success, finding oil at the SNE North-1 well drilled at the Sirius prospect. Junior partner FAR Ltd, which is disputing Woodside’s entry into the venture, said the result has ‘‘positive implications’’ for extending the size of the field to the north.
Westpac Banking Corporation (WBC); ZipMoney Limited (ZML):
The chief executive of ASX-listed buy-nowpay-later firm ZipMoney says its $40 million deal with Westpac is ‘‘validation that fintech is here to stay’’ with hopes that the company can create similar relationships with the other big four banks. The deal announced on Monday will see Westpac invest $40 million upfront to explore using ZipMoney’s products and services across its payments network. A further $8 million was granted to Westpac in the form of performance options. ‘‘We’d love to partner with all the banks where we see it makes sense. For us our ambitions are much more broad. They are really around the full suite of financial services products for millennials. But at the same time the banks are sitting on great infrastructure that we can access,’’ said chief executive Larry Diamond.
Yancoal Australia Limited (YAL):
Yancoal Australia has kicked off its hunt for brave listed equities investors with a three- to five-year view and willing to back its Hunter Valley coal expansion story. It’s understood Yancoal and its brokers met fund managers in Singapore on Monday, on day one of an investor roadshow seeking to find institutional backers for its $US2.5 billion equity raising. The pitch is all about creating Australia’s third-largest coal owner and largest pure-play coal producer, with three thermal coal mines in Australia and a sustainable capital structure to support future growth.
Commonwealth Bank of Australia (CBA):
Commonwealth Bank of Australia is considering using new software to improve the way it monitors suspicious activity throughout the bank, suggesting the money-laundering scandal could be a tipping point that breaks down CBA’s insular approach to technology development. With AUSTRAC suing CBA for failures in identifying suspect deposits, the bank has been exploring how new regulatory technology being developed outside the bank might be incorporated into its surveillance systems to make ‘‘suspicious matter reporting’’ and account monitoring more reliable. CBA sought a meeting with three members of the new RegTech Association six weeks ago to get a briefing on developments in the niche area, where new technologies are being developed to identify unusual transaction patterns, provide staff with collaboration tools and enhance quality of data feeding into its system – all areas where the AUSTRAC case reveals significant shortcomings at the bank.
(Source: AIMS)
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