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The US markets closed lower last night after a volatile session. The Dow was down by 8 points or 0.1% at 8016, the S&P500 was down 2 points or 0.2% at 855 and the Nasdaq was down 5 points or 0.3% at 1673.
Gold and oil both were lower. Gold was down by $14.60 at $893.6/oz and crude oil settled down $0.67 at $49.25/bbl.
LogiCamms Limited (LCM) is delighted to announce it has been awarded a contract by Thiess Kentz to provide the Process Control & Monitoring System works at the Edinburgh RAAF facilities Hardened and Networked Army project in South Australia. This project is LogiCamms most significant defence contract win and strengthens the company’s credentials in the defence sector. The contract value for LogiCamms is in excess of $2 million.
LogiCamms Managing Director, Adam Keats commented, “This project is a very strategic win for our company as it demonstrates our ability to competitively service the growing defence industry. This is important and timely for our company as the multi-billion dollar Air Warfare Destroyer contract in Adelaide is gaining momentum and we anticipate this will create new opportunities for our company.”
LogiCamms is an industry leading national electrical engineering and control Systems Company servicing the Infrastructure, Energy & U utilities and Resources sectors. LogiCamms currently provides a wide range of electrical engineering services along with specialized design, implementation and support of control systems. This work is highly specialized and involves the understanding and integration of multiple system components to deliver a fit for purpose solution which reliably and efficiently delivers on client’s operational needs.
Computronics Holdings Ltd (CPS) has successfully negotiated with South America’s largest agricultural machinery manufacturer, Stara S/A Industria De Implementos Agricolas, to provide them with non-exclusive access to the Intellectual Property of its Farmscan Canlink 4500. The US $1.1 million one-off payment to Computronics for the use of the Canlink 4500 IP in Stara’s range of agricultural equipment underpins the true global value of Computronics’ world class precision agriculture technology. Stara will use the Farmscan Canlink 4500 IP to manufacture and install variable rate control and spray control systems into existing agricultural machinery lines. The deal also cements Computronics as Stara’s exclusive supplier of further product development services for these technologies.
Computronics’ Chief Executive Freeman Wyllie said, “While some of the funds raised through this deal will go back into R&D, it has also provided an opportunity to put cash into other areas of the business and to explore other growth opportunities.”
Stara Director Atila Trennepohl said that he considered Farmscan variable rate control and spray control systems to be the best on the market for functionality and simplicity of use.
Stara S/A is the largest manufacturer of agricultural machinery in South America. It has a turnover of US$ 160 million this year and sells over 12,000 agricultural machines per annum. Stara currently exports to 28 countries.
The directors of Paragon Care Limited (PGC) are pleased to announce that it has entered into an agreement to conditionally acquire all the issued capital of Axishealth Pty Ltd. Axishealth is a significant supplier of Durable Medical Equipment (DME) to the Australian health and aged care sector including hospitals, aged care facilities, general practitioners and pharmacies. Its products include medication carts, electronic hospital beds, IV stands and sophisticated pediatric cots. Products are sourced both internationally and locally and are distributed throughout Australia via reseller agreements or via the dedicated sales team employed by Axishealth. The company has exclusive distribution rights for a number of high quality products from overseas.
In the year to 30 June 2008 total revenue was $6.6 million and its major customers included public and private hospitals, medical clinics and aged care facilities. The unaudited adjusted EBIT for Axishealth for the year to 30 June 2008 was $0.67 million. The Company proposes acquiring all of the issued capital of Axishealth for a total consideration of $3.2 million, of which $2.56 million (80%) would be paid as cash, with the balance of $640,000 (20%) by way of an issue of 29,090,909 of the Company’s fully paid ordinary shares at a nominal issue price of 2.2 cents per share.
The proposed acquisition of Axishealth is conditional upon the placement of those shares and options to raise not less than $1.66 million and the arrangement of borrowings or other financial accommodation of not less than $1.8 million to fund part of the cash consideration for the Axishealth acquisition. It intends undertaking a placement on or about 30 April 2009 of 8 million new ordinary shares at 2.5 cents per share and 4 million new options exercisable at 2.0 cents on or before 31 Ma y 2012 for nil consideration, to raise $200,000 for working capital purposes. Part of the proceeds from the proposed placement of up to 72 million new ordinary shares and attached options will also be used for payment of fees associated with the acquisition and placement and strengthening the Company’s working capital position.
Dear Members,
I have updated MDS Radio with a new recording covering the Dow, XJO and the ASX Top 20.
Click here to watch the presentation.
Best Regards,
Leon Hinde.
Analysts are worrying over the impact a swine flu outbreak is likely to have on an already shaky world economy.
So far, the deadly flu has not reached the pandemic proportions SARS reached in 2003, but some economic impact can already be seen, and analysts are bracing for more damage.
So far
Ongoing concerns
For more info
Stocks for your watchlist
The US marketsclosed lower last night. The Dow was down by 51 points or 0.6% at8025, the S&P500 was down 8 points or 1.0% at 857 and the Nasdaq was down 14 points or 0.8% at 1679.
Gold and oil both were lower. Gold was down by $5.90 at $908.20/oz and crude oil settled down $0.24 at $49.90/bbl.
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1007Kb).
General Advice Only
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In this morning s wrap
DOW: down 0.6%
March Qtr heading for 7th Qtr of EPS Declines;
Flu Fears see Travel Stocks Fall
NASDAQ: down 0.9%
Qualcomm: #1 Mobile-phone chip maker
says 3Q Sales at $US2.4bn
FTSE: up 0.3%
Airlines Weigh ;
DAX up 0.4% & CAC flat -0.1%
NIKKEI: up 0.2%
Sharp: #1 LCD Display maker; Sees Profits This Year
Hang Seng down 2.7%
Oil: down 1.3% – At $50
Swine Flu Concerns
Gold: down 0.7% ($907)
Commodities Lower;
USD Higher
SPI flat (+0.1%)
SPI: Critical Levels: 3800 & 3600
Swine Flu at Aussie Doorstep
ASX News
NAB 1H09 profit -0.9% to $2.7bn; eps -9.4%;divy 73c (cut 25%)
ALS – $175m Biolab sale; Helps clear $150m debt refinance
Materials to weigh
Financials to be weigh ahead of earnings updates
Golds to support
ASX to open flat; US lower on Flu
