Archive for July, 2009

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  • Watpac Awarded $200 million Of New Projects

    Monday, July 27th, 2009

    Watpac’s Queensland Construction (WTP) division is celebrating the award of almost $200 million worth of projects in recent weeks. The majority of the work won was sizable projects for the Commonwealth Department of Defence in both Townsville and Brisbane. In Townsville, the team was awarded the Enhanced Land Force Stage 1, New Facilities for the Third Battalion the Royal Australian Regiment (3 RAR) and Messing Facilities project for Defence. This project is a lump sum Head Contract and involves the refurbishment and extension of some existing facilities and the construction of new facilities at Lavarack Barracks to be completed for the relocated 3 RAR. Works will include extensive civil works, refurbishment and extension of messing facilities, the construction of new buildings for use as headquarters, administrative support, quartermaster stores, and platoon and training facilities. In Brisbane, Watpac is soon to begin work on the RAAF Base Amberley Redevelopment Stage 3, Package 6—Passive Defence Augmentation and Demolitions project. The works comprise an extensive security upgrade to the Base and involves new high- level security fencing around the perimeter of the Base, extensive civil works, demolition, and the construction of new gate houses.

    Martin Monro, Watpac Construction National General Manager, said the new Defence projects are recognition of Watpac’s ability to win work that is not awarded solely on price but on the strength of Watpac’s teams, and its safety, environmental and quality systems. “These projects throughout Queensland show Watpac has the skills and experience to undertake a wide variety of work,” Mr Monro said. “As a Queensland-born company, it is particularly heartening to see that many of these projects will not only provide new and updated facilities for our Defence personnel, but will also create jobs for Queenslanders.”

    In addition to the Defence projects, this week Watpac was named as one of the managing contractors for Round 2 of the $600 million Australian Government’s National Building Programme—Primary Schools for the 21 Century. Other projects secured in the last month include Albion Park Demolition and Services Work, the Brisbane Cricket Ground Roof Reinstallation, and the Coopers Plains OHSS Complex W8 project.

    Other Watpac Construction projects currently underway in Queensland include the Nambour Hospital redevelopment on the Sunshine Coast, the Knowledge Based Research Centre and Boggo Road Urban Village projects in Brisbane, and the Australian Tropical Science and Innovation Precinct at James Cook University in Townsville. In other states, the Construction Division has continued to secure work, with other recent wins including the Woolworths Data Centre in Sydney, the Cochlear Global Headquarters building at Macquarie University, and the RMIT University Design Hub project in Melbourne.

    www.watpac.com.au

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    Friday, 24th July 2009 Morning Wrap

    Friday, July 24th, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (4Kb).

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

    DOW: up 2.1%
    Above 9000 (Jan09);
    Existing Home Sales up 3.6%

    NASDAQ: up 2.5%
    Microsoft (Profit -39%) & Amazon Disappoint After Market;
    Longest Win Streak Since 1992

    FTSE: up 1.5%
    9TH Day of Gains; Miners & Banks Lead;
    DAX up 2.5% & CAC up 2.1%

    NIKKEI: up 0.7%
    7th Day of Gains; Electronics Lead; Trading at PE of 44;
    Hang Seng down 2.9%

    Oil: flat ($66)
    3 Week Highs;
    Still Around $66 Level

    Gold: flat ($951) 5 Week Highs
    Commodities Higher;
    USD up

    SPI: Critical Level(s): 3850 to 4050
    SPI up 61 (1.5%)

    ASX News
    MAP MQG to sell control
    STO Rev -10% MarQ; -35% JunQ08; capital needed
    NUF t/o spec (SinoChem)
    Reports: Fri: WPL (2Q09), SGT
    Materials & Energy stocks to recover
    Banks to recover
    ASX to open higher
    US & UK positive leads

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    US Markets Sharply Higher on 23/7/2009

    Friday, July 24th, 2009
    The US markets finished sharply higher with the Nasdaq up 12 days in a row, its best performance in 17 years.   The Dow closed up 188 points or 2.1%  at 9069, the  S&P500 was up 22 points or 2.3% at 976  and the Nasdaq was up 47 points or 2.4%  at 1973.

    Gold was slightly higher while oil was up strongly.  Gold was up $1.50 at $953.30/oz and crude oil was  up $1.76 at $67.16/bbl.

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    Pacific Energy To Supply Electricity To Saracen

    Friday, July 24th, 2009

    Pacific Energy Limited (PEA) is pleased to announce that the Company has signed a new 3 year electricity supply agreement with Saracen Gold Mines Pty Limited for the commissioning and operation of the 10MW power station located at the Carosue Dam gold mine. The Carosue Dam gold mine is located approximately 90km NE of Kalgoorlie, Western Australia. The deal provides for the restart of the existing Carosue Dam power station purchased by Pacific Energy as part of the acquisition of the Kalgoorlie Power Systems business (KPS) earlier in 2009. The cost of re-establishing power station operation will be minimal with commissioning scheduled for December 2009. Pacific Energy is also progressing contract negotiations for the supply of electricity to various other mining projects which are expected to be signed in 2009.

    Pacific Energy’s Managing Director, Mr Adam Boyd said: “The signing of this new 3 year contract to supply electricity to Saracen’s Carosue Dam gold mine increases Pacific Energy’s total contracted capacity to 117MW at 12 remote mines sites around Australia. We continue to be encouraged by the breadth of opportunity to grow the KPS core business model of providing build, own and maintain remote power stations.”

    www.pacificenergy.com.au

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    Novotel Hotel To Be Built At Auckland International Airport

    Friday, July 24th, 2009

    A joint venture has today been signed between Accor Hospitality, Tainui Group Holdings and Auckland International Airport (AIA) , to develop and operate a world-class (4-star plus) 260 room Novotel hotel at Auckland Airport, to be completed in time for Rugby World Cup 2011. Tainui will act as lead developer and investor in the joint venture, with Auckland Airport holding a minority interest. The hotel will be developed on a long term ground lease granted by Auckland Airport and will be managed by Accor. The total forecast completed cost is $65million including hotel at approximately $45million. The deal remains conditional on project finance and construction tender. Novotel Auck land Airport will be designed by Warren & Mahoney Architects.

    Tainui Group Holdings CEO, Mike Pohio, said, “This deal represents a significant development opportunity for Tainui that we believe will complement our existing successful hotel investments. The Airport hotel will also generate cons iderable long-term economic growth and provide many new jobs for the Auckland region. The hotel will assist Auckland and New Zealand tourism and trade. It will cater for the inevitable economic recovery and growth when it returns.” Auckland Airport general manager property, Peter Alexander said, “There has been a clear demand from the tourism industry and travellers for a hotel in the airport terminal precinct for some time. We are

    exceptionally pleased to bring together such a strong group of partners, each bringing a strong track- record, sk ills and experienc e. The outcome will be a great hotel and will deliver yet another string to the bow of Auckland Airport, one of the 10 best airports in the world.”

    Tainui Group Holdings (TGH) is the commercial arm of Waikato-Tainui. It has built a reputation for excellence in property development, investment and management and has a history of developing success ful hotels. TGH’s guiding principle is to lead Maori economic development. Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate clients and public institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40 years of expertise in Hotels, with the Sofitel, Pullman, MGallery, etc representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Lenôtre and Services, with 30 million people in 40 countries benefiting from Accor Services products in employee and public benefits , rewards and loyalty, and expense management. Auckland Airport has been voted the 10th best in the world and the best airport in the Australia Pacific region, in the 2009 independent Skytrax World Airport awards.

    www.aucklandairport.co.nz

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    Nomad Building Solutions To Supply Kitchens For Gorgon Project

    Friday, July 24th, 2009

    Nomad Building Solutions Limited’s (NBS) wholly owned subsidiary, Nomad Modular Building Pty Ltd has received a letter of intent to award a contract from the Thiess Decmil Kentz Joint Venture for the manufacture and supply of the central facilities buildings for the Chevron Gorgon liquefied natural gas project accommodation village.

    Under the contract Nomad Modular will build 3 kitchens/dining rooms (to cater for up to 3,300 people), a communications building, administration complex, 2 wet messes and 14 other associated administrative and recreational facilities. Work will begin in July 2009 at the company’s Bibra Lake manufacturing facility in the southern Perth suburbs, and is expected to be completed by March 2011. Approximately 80% of the revenue from the contract will be received in this financial year. Installation will be the responsibility of the Joint Venture.

    NBS’ Managing Director, Alan Thomas, said the letter of intent recognized the capacity of Nomad Modular to deliver a first class product adding that its new management team has achieved a very credible outcome in gaining this award. “Nomad Modular has been directly involved with some of the largest accommodation village projects ever undertaken in Australia and have developed a tremendous amount of knowledge and expertise from that experience. This experience will be applied to the Gorgon project to ensure the best possible outcomes for our client and those who will use the new facilities for many years to come.

    Other companies in the Nomad group include the Western Australian based construction and property specialist Rapley Wilkinson, the transportable homes manufacturer McGrath Homes, and Brisbane-based transportable homes and cabins manufacturer Nomad Qld and Halley Homes.

    www.nomadbuildingsolutions.com.au

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    Thursday, 23rd July 2009 Morning Wrap

    Thursday, July 23rd, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (1243Kb).

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

    DOW: down 0.4%
    Energy & Banks Weigh;
    MS 3Q Loss Very Dissapointing

    NASDAQ: up 0.5%
    Outperforms Again!

    FTSE: up 0.3%
    UK: Housing Slump till 2012; BoE: Maintains Asset Buys;
    DAX up 0.5% & CAC up 0.03%

    NIKKEI: up 0.7%
    UBS:Lighten Exposure to Japan; Toshiba up 5% (on Apple)
    Hang Seng down 1.3%

    Oil: flat ($65)
    Expect Profit Taking

    Gold: up 0.5% ($951) 5 Week Highs
    Commodities Higher;
    USD Lower

    SPI: Critical Level(s): 3850 to 4050
    SPI down 6 (0.1%)

    ASX News
    NAB Bad debts up to $1.1bn; to raise $2.75bn ($3bn in Nov08);
    BHP 35% Profit Fall? Prod n: June Qtr: Iron ore down 10%; Coal up 4%;
    Copper down 21%; Petroleum up 19% on MarQ, up 4% YoY
    WOW NPAT growth 9%-12% FY09 on track, Sales +7.5% FY09
    NCM Prod n up 9% on MarQ; Cash Costs down 9% on track;
    5 Years plan: Gold up 40%; Copper up30%;
    BPT debt free! JunQ Prod n down 13%; Rev down 9%; (t/o DLS?)
    PPX more losses F/cast EBIT down 50% (vs 30%)
    AWB to sell Brazilian Assets for $65m loss

    Reports: Thu: PSA, STO; Fri: WPL, SGT
    Materials & Energy stocks to see profit taking
    Banks to weigh
    ASX to open lower
    US & UK mixed leads

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    Thursday, 23rd July 2009 Morning Wrap

    Thursday, July 23rd, 2009

    Presented by Michael Hevern
    MDSFinancial

    Click here to watch the presentation.

    or

    Click here to download the mp3 audio recording (30Kb).

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

    DOW: down 2.0% ( off 10 Month Highs)
    Banks, Energy & Commodities All Lower;
    Weak Data

    NASDAQ: down 2.7%
    Broad Selling

    FTSE: down 1.5%
    Europe Recovering From Recession; Miners & Financials Lead
    DAX down 2.0% & CAC down 2.1%

    NIKKEI: down 3.1% (off 10 Month Highs)
    Upcoming Elections & Poor Data; Companies Cut Investment;
    Hang Seng down 3.6%;

    CHINA: down 5.8%
    China Banks Reducing Lending
    Volatility increasing

    Oil: down 1.1% ($67)
    Breaks Lower

    Gold: down 1.5% ($935)
    Commodities Lower;
    USD Higher

    SPI: Critical Level(s): 4250 to 4450
    SPI down 45 (-1%)

    ASX News
    BLY 1H09 profit down 50%; Rev down 53%; $635m capital raising (1 for 1 at 27cents)
    FMG deal to provide discounted iron ore for $7.2bn in funding from China Investment
    BSL FY loss of $66m; More pain in next 6 months
    OST FY profit down 6%
    NCM FY profit up 85% (gold prices)
    WDC may raise $3bn, reports this month
    AOE Shell makes failed takeover ($3bn)
    RBA minutes released today

    Reports: T: ISF, OST, UGL, JHX (1Q); W: BLD,ORG, QAN, CEY, AMC, CSL, ILU, WPL;
    Th: AGL, AMP, ASX, BXB, MIG, QBE, DOW, RIO, MCR; F: APN, CGF, IAG, WBC, PBG, BBG, TEL, WES

    Estimates:
    BXB - expect 20% fall in profits
    UGL - expect 10-20% profit improvement
    DOW - expect 10% profit improvement
    QAN - expect sharp drop in EPS WPL & STO - focus will be on LNG divisions

    Materials & Energy stocks to see profit taking
    Banks to see profit taking
    ASX to open lower
    US & UK negative closes

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    US Markets Mixed on 22/7/2009

    Thursday, July 23rd, 2009
    The US markets finished mixed with the Nasdaq up for 11 days in a row.   The Dow closed down 34 points or 0.39%  at 8881, the  S&P500 was unchanged  at 954 and the Nasdaq was up 10  points or 0.5%  at 1926.

    Gold was higher while oil was slightly lower.  Gold was up $6.40 at $953.30/oz and crude oil was down $0.21 at $65.40/bbl.

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    Fermiscan Breast Cancer Test Approved in EU

    Thursday, July 23rd, 2009

    Fermiscan is pleased to announce that ‘The Fermiscan Breast Cancer Test’ has now been “CE Marked”. The CE Mark indicates that the test can be freely marketed anywhere in the European Union and that the company has satisfied the relevant Essential Requirements in the EU’s Medical and Healthcare Products Regulatory Agency directives that its product conforms and that it is fit for its intended purpose.

    Fermiscan has begun to establish the necessary infrastructure in Europe to drive a commercial roll out of the test.

    Fermiscan’s principal activity is the commercialisation of an innovative non-invasive diagnostic test for the detection of breast cancer.  The Fermiscan Breast Cancer Test is based on the discovery by an Australian scientist that a change can be detected in the molecular structure of hair from women with breast cancer and this change can be identified by using diffraction of X-rays generated in a synchrotron.

    Fermiscan completed a major clinical trial of the Fermiscan Test in May 2008, with sensitivity (ability to accurately detect cancer) of 74% in women under 70, and with a higher sensitivity for younger women; and specificity (ability to accurately detect the absence of cancer – negative predictive value) of 99.5%.

    Fermiscan is developing opportunities to licence and sell the Fermiscan Test internationally, particularly in Australia, Europe, Japan, South East Asia, and the United States.  Fermiscan owns and operates the Sydney Breast Clinic, one of the largest diagnostic breast clinics in Australia that for more than 30 years has been caring for over 10,000 women annually.  With clinical trials successfully concluded, commercialisation of the Fermiscan Test is progressing to plan in 2009.

    www.fermiscan.com.au

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