Archive for July, 2009

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    • National Australia Bank Acquires JB Were’s Private Wealth Management

    Thursday, July 30th, 2009

    National Australia Bank (NAB) and Goldman Sachs JBWere (GSJBW) today announced an agreement for NAB to acquire 80.1% of Goldman Sachs JBWere’s private wealth management business in Australia and New Zealand, which will be branded JBWere, with Goldman Sachs JBWere retaining the remaining 19.9%. JBWere will remain a centre of specialist expertise, focused on delivering advice driven wealth solutions to high net worth clients, and become a portfolio business of NAB’s wealth division, MLC & NAB Wealth. The alliance incorporates a strategic distribution relationship which enables GSJBW to distribute certain products to JBWere on an exclusive or preferred basis.

    NAB will outlay $99 million for JBWere, with additional performance related consideration payable dependent on revenues generated by the business over a period of three years. The contribution to NAB Group earnings and ROE is not expected to be material in the first year.

    JBWere is a leading wealth advisory business with more than 22,000 active client relationships, assets under advice exceeding $38 billion, and funds under management of around $10 billion. JBWere advisers will retain full access to the existing range of services, investment research and products currently available through Goldman Sachs JBWere, as well as accessing additional services from NAB and MLC.

    “JBWere’s pre-eminent reputation for providing wealth management services to high net  worth individuals and National Australia Bank’s strong footprint in business and private  banking is a great combination,” National Australia Bank Group Chief Executive Officer  Cameron Clyne said. “Our Australian Wealth business, MLC & NAB Wealth, has a long history in developing and nurturing wealth management businesses that service private wealth and institutional clients under their own distinct brands, including JANA and Godfrey Pembroke. “At the NAB strategy update in March, I indicated private wealth was a business with significant upside and JBWere adds to our capability and brands in that area,” Mr Clyne said.

    www.nabgroup.com

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    Cyclopharm Announces JV With Alfred Health Solutions

    Thursday, July 30th, 2009

    Cyclopharm Limited (CYC) is pleased to announce it has entered into a Joint Venture with Alfred Health Solutions (AHS) to provide medical imaging services to Macquarie University Hospital (MUH). This strategic initiative represents a rare opportunity to provide a fully aligned and integrated diagnostic, therapeutic and research platform at Macquarie University Hospital. The alliance also represents a key milestone in Cyclopharm’s mission to continue to develop solutions that improve patient care outcomes. The Joint Venture will provide patient’s at the new hospital and neighbouring suburbs access to state of the art imaging facilities including Positron Emission Tomography (PET) scanning. PET is clinically proven to better identify the location and extent of certain active cancer cells in the body and is the fastest growing nuclear medicine diagnostic imaging modality in the world.

    MUH is a $180 million development that will establish a major medical precinct within the Macquarie University Research Park to complement the Australian School of Advanced Medicine (ASAM). ASAM offers advanced training for doctors, in surgery and medical research and brings together world class clinicians, researchers and medical educators to create an innovative training program with a focus on future trends in medicine. AHS and its partner Alfred Medical Imaging are an outstanding collection of dedicated radiology and nuclear medicine specialists. Alfred Medical Imaging have experience in neurological, musculoskeletal, interventional, gastroenterological, respiratory and endocrine disorders and specialise in modern imaging techniques such as vascular Computed Tomography (CT) of the brain, heart and lower limbs. Cyclopharm’s facilities at MUH represent the first commercial radiopharmaceutical production centre to be located within a hospital in Australia. The site will house a cyclotron and a commercial isotope production facility. The facility will focus on the manufacture and development of a number of injectable radiopharmaceuticals used in PET scanning.

    www.cyclopharm.com

    www.alfred.net.au

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    Leighton Signs Hunter Valley Rail Contract Upgrade

    Thursday, July 30th, 2009

    Australian Rail Track Corporation (ARTC) today signed an agreement with Leighton Contractors (LEI) to create the Upper Hunter Valley Alliance which will deliver a $152 million program of works on the Hunter Valley Rail corridor. The program incorporates two works packages designed to increase the coal carrying capacity of the Hunter Valley Rail network. In alliance with ARTC, Leighton Contractors will be commissioned to undertake all civil and track works in accordance with the ARTC 2009 – 2018 Hunter Valley Corridor Capacity Strategy from Singleton to Mus wellbrook (Upper Hunter 1) and Muswellbrook to Werris Creek (Upper Hunter 2). Leighton Contractors will be supported by sub-alliance partners Parsons Brinckerhoff, Coffey Geotechnics and KMH Environmental.

    ARTC CEO David Marchant explained that the ongoing upgrade of the Hunter Valley rail corridor is essential if the network is to keep pace with increasing demand for c oal from the region. “Demand for Hunter Valley coal is set to grow exponentially by 2012. The program of works to be undertaken by ARTC and Leighton Contractors is part of ARTC’s strategy to maintain the Hunter Valley rail network ahead of future market demands,” Mr Marchant said. “ARTC is work ing with the Hunter Valley coal industry and the Australian Government to ensure that rail ‘steps up to the plate’ and delivers an efficient connec tion between the Gunnedah Basin and the Newcastle ports. Leighton Contractors General Manager NSW/ACT, Mike Metcalfe, said the announcement reflected the company’s ability to provide comprehensive rail and civil infrastructure solutions to major customers, such as ARTC. “This program is pivotal for the future success of the Hunter Valley and Leighton Contractors is ready to deliver the works efficiently and effectively,” Mr Metcalfe said.

    Leighton Contractors is one of Australia’s leading contracting and project development groups with over $9.6 billion work in hand, employing more than 9,000 people across Australia and New Zealand. The company services clients across a range of industries and sectors including resources, construction, telecommunications, energy, infrastructure and facility management.

    www.leighton.com.au

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    US Markets Close Mixed on 28/7/2009

    Wednesday, July 29th, 2009
    The US markets finished mixed after being lower earlier in the day.   The Dow closed down 11 points or 0.1%  at 9096, the  S&P500 was down 2 points or 0.2% at 979  and the Nasdaq was up 7 points or 0.4%  at 1975.

    Gold and oil both fell sharply.  Gold was down  $14.60 at $941.70/oz and crude oil was  down $1.15 at $67.23/bbl.

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    Wednesday, 29th July 2009 Morning Wrap

    Wednesday, July 29th, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (1121Kb).

    General Advice Only
    ************************************************
    In this morning s wrap

    DOW: down 0.1%
    Above 9000 (Nov08); Consumer Confidence Disappoints
    Positive Earnings Support Early Sell Off

    NASDAQ: up 0.4%
    Biotechs Lead;
    Amgen Beats Forecasts

    FTSE: down 1.3%
    Miners & Energy Weigh;
    DAX down 1.5% & CAC down 1.3%

    NIKKEI: flat
    9th Day of Gains Stops; Best Winning Streak for 2 Decades;
    Hang Seng up 1.8%

    Oil: down 1.7% ($67)
    Profit Taking

    Gold: down 1.7% ($937) Biggest Fall in 3 Weeks
    Commodities Lower;
    USD Higher

    SPI: Critical Level(s): 3950 to 4150
    SPI down 21 (-0.5%)
    RBA: Sees Rates Rising

    ASX News

    MQG sees rising profits FY10 +19%; $4bn surplus capital
    WES Coles turnaround on track
    TSE US recession -> $168m impairment charge
    GUD profit down 6.9% – still in strong position
    Reports: W: MQG; Th: AUN,HWI,AXA(1H),LGL (Q2); F: PBG(1H) ORG(Q4),ERA(1H)
    Materials & Energy stocks to see profit taking
    Banks to hold
    ASX to open lower
    US & UK negative leads

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    Infomedia Secures Jaguar/LandRover Contract

    Wednesday, July 29th, 2009

    Infomedia Ltd (IFM) today announced the signing of a three year agreement with Jaguar Cars Limited and Land Rover (“Jaguar and Land Rover”) for creation of the Company’s Superservice Menus™ service quoting and selling system.

    Under the terms of the agreement, Infomedia will create an online version of Superservice Menus for Jaguar and Land Rover and make it available to authorised service departments worldwide. Superservice Menus will include all of the service and repair operation codes, plus accessory fitment options, to ensure a consistent service experience for Jaguar and Land Rover customers, while improving profitability and efficiency within the service department.

    Gary Martin, Chief Executive Officer of Infomedia said; “We have enjoyed a tremendous partnership with Land Rover since 2001 as the global supplier of their electronic parts selling system, with Land Rover dealers using our Microcat® solution. We are delighted that the relationship has now been extended to providing our Superservice Menus solution to Land Rover and we welcome Jaguar as a new automaker customer to the Infomedia portfolio.”

    Superservice Menus provides fast, accurate and reliable menu pricing for service, repair, and accessory fitment quotations, repair orders and customer invoices. By taking the hassle out of managing service quoting, it delivers productivity, profitability and customer satisfaction improvements across the dealership.

    Since its launch in 2003 Superservice Menus continues to grow in subscriptions in service departments around the globe. The addition of Jaguar and Land Rover brings to 17 the total number of automakers who will be using Superservice Menus in their dealership networks. Superservice Menus is currently used in 25 countries and this global agreement with Jaguar and Land Rover will see that number grow even further with the possible expansion to new markets such as; Canada, China, Russia and the Middle East region.

    Globally there are approximately 2,600 Jaguar and Land Rover dealers. It is expected that the Superservice Menus solution will launch in the major European Jaguar and Land Rover markets in Q1 2010.

    www.infomedia.com.au

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    Navitas Enrolments Increase 24%

    Wednesday, July 29th, 2009

    Global education services provider, Navitas Limited (NVT) today announced a 24% increase in student enrolments for the second semester of 2009 (“200902”).

    Equivalent full time student unit (“EFTSU”) enrolments at the University Programs colleges and managed campuses increased to a second semester record of 14,306, up from 11,573 in the previous corresponding period.  The result is the third consecutive year of more than 20% growth in second semester student enrolments.

    Navitas Chief Executive Officer Rod Jones said the strong demand for places in the Company’s university programs reflected a recognition of the quality of educational and support services at both Australian and international colleges.

    “Under our business model, we partner only with leading universities and ensure we meet the highest educational standards,” he said. “Our reputation for quality is driving demand from key markets and, in turn, increased student enrolments represent continued growth in revenue flow for the Company.” “We have now successfully applied this model to 20 campuses and colleges, and we continue to see new projects move into profitability within two years of start-up.” “This gives us great confidence to continue investing in new operations in established and growth markets.”

    Established colleges to have grown more than 25% were Fraser International College (FIC), Melbourne Institute of Business and Technology (MIBT), South Australian Institute of Business and Technology (SAIBT), Hertfordshire Institute of Business and Technology (HIBT) and London International College of Business and Technology (LIBT). Excluding new colleges to have opened in the latter half of 2008 (which have comparatives of nil in the PCP), 200902 EFTSU growth remained an encouraging 15%.

    “With two new colleges opening in the UK in September this year and the continued development of new markets and businesses, we expect to see continued solid growth across our portfolio into the future.”

    www.navitasworld.com

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    Senetas Granted Patent For Network Encryption

    Wednesday, July 29th, 2009

    Senetas Corporation Limited (SEN) announced today that it has been granted an Australian Patent for its multiprotocol network encryption system. The successful Patent, applied for in January 2005 through its wholly-owned subsidiary CTAM USA Inc., was granted by IP Australia (Patent registration: 2005213327) for a period of 20 years from application.

    Senetas CEO, John DuBois said: “We are very pleased to have been awarded this comprehensive patent in recognition of Senetas’ innovative engineering culture. The granting of the patent only further reinforces the world-class standing of our high speed network encryption platform, CypherNet.”

    He said the platform secured all major network protocols from low speed IPSec and ATM to high speed SONET and 10 Gbps Ethernet. CypherNet is sold directly and through reseller channels in more than 35 countries. The Senetas multiprotocol network encryptor is listed on the Australian Defence Department’s Evaluated Products List – the only EPL-listed encryptor accredited to the two major global standards: Common Criteria (EAL) and the US-recognised FIPS – and is approved for sale to Australia’s Government departments and agencies, as well as allied governments.

    Since the Patent application Senetas has invested further in boosting the speed of the encryption platform, as well as developing: a Fibre channel encryptor securing data in motion between Storage Area Networks; the world’s first hybrid quantum encryptor using the laws of quantum physics to enhance the security of communications over optical fibre networks; and CypherStream a new low cost small footprint encryptor capable of running customised algorithms, a requirement of some foreign governments.

    www.senetas.com.au

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    Analysis of DJI, XJO and ASX Growth Portfolio

    Tuesday, July 28th, 2009

    Dear Members,

    I have updated MDS Radio with a new recording covering the Dow, XJO and the ASX Growth Portfolio.

    Click here to watch the presentation.

    Best Regards,
    Leon Hinde.

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    Tuesday, 28th July 2009 Morning Wrap

    Tuesday, July 28th, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (1041Kb).

    General Advice Only
    ************************************************
    In this morning s wrap

    DOW: up 0.2%
    Above 9000 (Nov08); June New Homes Sales up 11%;
    Banks See late Buying

    NASDAQ: up 0.1%
    Holds Gains;
    Longest Win Streak Since 1992

    FTSE: up 0.2%
    6 Month Highs; Miners Lead; Airline Weigh;
    DAX & CAC up 0.2% (6 Month Highs)

    NIKKEI: up 1.5%
    9th Day of Gains; Best Winning Streak for 2 Decades;
    Hang Seng up 1.4%

    Oil: up 0.5% ($68)
    3 Week Highs;
    Recovery Hopes

    Gold: up 0.2% ($954)
    Commodities Higher;
    USD Lower

    SPI: Critical Level(s): 3950 to 4150
    SPI up 5 (0.1%)

    ASX News

    VBA – $250m capital raising set to fly(1H09 net loss $101m); through 1 for 1 rights issue @ 20 cents (30% disc)
    STO Timor Sea Assets sale getting close
    BLD New chair Bob Every (formerly ILU & WES) May 2010
    MCC JunQ sales up 20.6%; YoY sales up 17%;
    ALZ 1H09 $296m Loss;Op Profit -11%;Rev -29%; Needs to raise $475m
    Reports: T: GUD, CPB; W: MQG; Th: AUN,HWI,AXA(1H),LGL (Q2); F: PBG(1H) ORG(Q4),ERA(1H)
    Materials & Energy stocks to rise
    Banks to recover
    ASX to open modestly higher
    US & UK modestly positive leads

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