Australia and New Zealand Banking Group (ANZ):
ANZ Banking Group is loosening some of the clamps it put on interest-only mortgage lending in 2017, after pledging to reopen the door to property investors following a period of excessive caution. The big four lender on Thursday said it would again start offering customers an interest-only period of up to 10 years, up from five years now. It will also allow interest-only loans where a customer has a deposit of 10 per cent of a property's value, where previously it required a 20 per cent deposit. The changes are a clear signal the bank is trying to spur growth in the housing investor market, where interest-only loans are most popular, after chief executive Shayne Elliott last month admitted it had been "overly conservative".
Coca-Cola Amatil Ltd (CCL):
Coca-Cola Amatil has denied speculation its acquiring the Lion Drinks and Dairy portfolio from Kirin, saying it is comfortable with its current portfolio of drinks. Kirin has been trying to sell its Lion dairy business, including top brands like Pura milk, Dairy Farmers and Farmers Union since October, with media and analysts alike speculating CC Amatil as the perfect buyer.
Elders Ltd (ELD):
Trade in agricultural group Elders has dropped to a three-week low after after warning of difficult trading conditions and setting out new forecasts for its full year earnings. The company referenced the ongoing drought and recent flooding in North Queensland as challenging conditions, and said the first half of the year would be materially lower than the same half last year due to lower wool volumes and increased costs from its turnaround investment program. It would deliver underlying earnings between $72 million and $75m for the year to September 30, in line with $74.6m last year. Underlying net profits are expected in the range of $61m to $64m, from $63.7m in FY18.
Fonterra Shareholders' Fund (FSF):
New Zealand milk producer Fonterra has reduced its forecast milk collection to 1.51 billion kilograms of milk solids (kgMS) for the 2018/19 season as dry weather in New Zealand continues to take its toll. In a note to the market, the dual NZ and ASX-listed group said dryness was particularly bad in the North Island which was impacting production in the second half of the season. “This forecast is slightly above last season’s collections of 1,505 million kgMS, a season also impacted by poor on-farm conditions,” it said.
Iress Ltd (IRE):
IRESS is on the hunt for a new UK managing director after incumbent Simon Badley announced his intention to step down later this year. Mr Badley has been in the role for five years, but will leave the company at the end of June. “He played a pivotal role in IRESS’ successful 2013 acquisition of Avelo, where he was chief executive. He leaves IRESS and our United Kingdom business in a strong position for continued growth,” IRESS chief Andrew Walsh said. “As we move into the next phase of growth, Simon has decided now is the right time for him to leave IRESS.”
Landmark White Limited (LMW):
Customer data of property valuation company LandMark White has once again surfaced on the dark web, as the ASX-listed company continues to manage the fallout of a serious data breach. LandMark, whose shares have been suspended from trading since February 19, disclosed overnight that a second dataset, containing 76,873 files, has been found circulating on the dark web, where hacker communities trade stolen information and hacking technology. “Our investigations reveal a link to a second dataset was posted on a dark web forum on or about 12.50 pm GMT, March 13 2019, which has since been taken offline on or about 5.20 pm GMT, March 13 2019,” LMW said in a statement.
National Australia Bank Ltd. (NAB):
National Australia Bank has put forward a compromise in the debate over which firms banks should treat as "small businesses," extending protections to customers with total debts of up to $5 million. While banks have accepted most of the royal commission's 76 recommendations, a key sticking point has been its call for a much wider definition of a small business banking customer. Currently, banks treat any firm with total debt of up to $3 million as a small business, but the commission said this should change to "any business or group employing fewer than 100 full-time equivalent employees, where the loan applied for is less than $5 million".
Retail Food Group (RFG):
Retail Food Group has supported industry changes recommended by the Fairness in Franchising report, after facing a damning attack by the parliamentary committee yesterday. It said board renewal had set it in good stead to turnaround the business and it took its regulatory and legal obligations seriously. “The current management team and Board completely understand that RFG’s future success is directly linked to the profitability of its franchisees,” chair Peter George said. “We have instituted a comprehensive program of investment and improvement to materially help existing and new franchisees grow and prosper.” Yesterday, the report urged a suite of regulators to look into the group and its former directors for potential insider trading and other non-compliance, after slamming the company’s former boss Tony Alford as an unreliable witness who was “evasive, inconsistent and generally uncooperative”. RFG shares have collapsed by 95 per cent in the last 18 months as a series of scandals hit its business model and senior executives.
（Source: AIMS）
ANZ Banking Group is loosening some of the clamps it put on interest-only mortgage lending in 2017, after pledging to reopen the door to property investors following a period of excessive caution. The big four lender on Thursday said it would again start offering customers an interest-only period of up to 10 years, up from five years now. It will also allow interest-only loans where a customer has a deposit of 10 per cent of a property's value, where previously it required a 20 per cent deposit. The changes are a clear signal the bank is trying to spur growth in the housing investor market, where interest-only loans are most popular, after chief executive Shayne Elliott last month admitted it had been "overly conservative".
Coca-Cola Amatil Ltd (CCL):
Coca-Cola Amatil has denied speculation its acquiring the Lion Drinks and Dairy portfolio from Kirin, saying it is comfortable with its current portfolio of drinks. Kirin has been trying to sell its Lion dairy business, including top brands like Pura milk, Dairy Farmers and Farmers Union since October, with media and analysts alike speculating CC Amatil as the perfect buyer.
Elders Ltd (ELD):
Trade in agricultural group Elders has dropped to a three-week low after after warning of difficult trading conditions and setting out new forecasts for its full year earnings. The company referenced the ongoing drought and recent flooding in North Queensland as challenging conditions, and said the first half of the year would be materially lower than the same half last year due to lower wool volumes and increased costs from its turnaround investment program. It would deliver underlying earnings between $72 million and $75m for the year to September 30, in line with $74.6m last year. Underlying net profits are expected in the range of $61m to $64m, from $63.7m in FY18.
Fonterra Shareholders' Fund (FSF):
New Zealand milk producer Fonterra has reduced its forecast milk collection to 1.51 billion kilograms of milk solids (kgMS) for the 2018/19 season as dry weather in New Zealand continues to take its toll. In a note to the market, the dual NZ and ASX-listed group said dryness was particularly bad in the North Island which was impacting production in the second half of the season. “This forecast is slightly above last season’s collections of 1,505 million kgMS, a season also impacted by poor on-farm conditions,” it said.
Iress Ltd (IRE):
IRESS is on the hunt for a new UK managing director after incumbent Simon Badley announced his intention to step down later this year. Mr Badley has been in the role for five years, but will leave the company at the end of June. “He played a pivotal role in IRESS’ successful 2013 acquisition of Avelo, where he was chief executive. He leaves IRESS and our United Kingdom business in a strong position for continued growth,” IRESS chief Andrew Walsh said. “As we move into the next phase of growth, Simon has decided now is the right time for him to leave IRESS.”
Landmark White Limited (LMW):
Customer data of property valuation company LandMark White has once again surfaced on the dark web, as the ASX-listed company continues to manage the fallout of a serious data breach. LandMark, whose shares have been suspended from trading since February 19, disclosed overnight that a second dataset, containing 76,873 files, has been found circulating on the dark web, where hacker communities trade stolen information and hacking technology. “Our investigations reveal a link to a second dataset was posted on a dark web forum on or about 12.50 pm GMT, March 13 2019, which has since been taken offline on or about 5.20 pm GMT, March 13 2019,” LMW said in a statement.
National Australia Bank Ltd. (NAB):
National Australia Bank has put forward a compromise in the debate over which firms banks should treat as "small businesses," extending protections to customers with total debts of up to $5 million. While banks have accepted most of the royal commission's 76 recommendations, a key sticking point has been its call for a much wider definition of a small business banking customer. Currently, banks treat any firm with total debt of up to $3 million as a small business, but the commission said this should change to "any business or group employing fewer than 100 full-time equivalent employees, where the loan applied for is less than $5 million".
Retail Food Group (RFG):
Retail Food Group has supported industry changes recommended by the Fairness in Franchising report, after facing a damning attack by the parliamentary committee yesterday. It said board renewal had set it in good stead to turnaround the business and it took its regulatory and legal obligations seriously. “The current management team and Board completely understand that RFG’s future success is directly linked to the profitability of its franchisees,” chair Peter George said. “We have instituted a comprehensive program of investment and improvement to materially help existing and new franchisees grow and prosper.” Yesterday, the report urged a suite of regulators to look into the group and its former directors for potential insider trading and other non-compliance, after slamming the company’s former boss Tony Alford as an unreliable witness who was “evasive, inconsistent and generally uncooperative”. RFG shares have collapsed by 95 per cent in the last 18 months as a series of scandals hit its business model and senior executives.
（Source: AIMS）
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