Live NZX News Today
Kalkine Media is a renowned equity research, investor relations and media firm catering to various market needs. The daily trending news gives an insight into the NZ and global market on the financial, economic and commodities front, keeping its readers well-informed and familiar with the overall market.
Our Live news page updates the readers on various business news and keeps them posted about the listed companies’ latest trading updates. This news section also covers information on cryptocurrency, currency, economic updates, macro updates, along with other trending news.
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17th May 01:10 PM NZST
Ampol lists on New Zealand Stock Exchange, presents roadshow
Ampol Limited (ALD:ASX, NZX:ALD) completed its listing on the New Zealand Stock Exchange on Tuesday with a trading symbol of ALD.
It announced that it retains its primary listing on the Australian Securities Exchange (ASX). There is no equity offering associated with the NZX listing.
Source: © 2022 Kalkine Media®
In its roadshow, the company spelled out its decarbonization plans. It stated that it was going to develop low carbon solutions for its customers, to reach net zero emissions by 2040 and set operational targets for 2025 and 2030 regional leadership local focus. With the acquisition of Z Energy creates number 1 trans-Tasman fuel and convenience player.
It has a combined customer base of 4 million retail customers per week cross and over 2,350 retail branded sites across Australia and New Zealand.
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16th May 01:16 PM NZST
Budget 2022 to boost tech sector development
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Budget 2022 will lay the groundwork for the advancement of New Zealand’s tech sector, as the NZ Government plans to invest NZ$20 million in this sector over four years in Budget 2022.
It aims to support the progression of the nation’s SaaS Community and will also assist in delivering short courses for digital skills development, thus helping to train the nation’s domestic talent with the right skills.
It is noted that the Kiwi Government is focused on working with the industry on an ITP plan, i.e., the Digital Technologies Industry Transformation Plan, for the long-term growth of its digital technologies sector to help generate enhanced export revenue as well as more high-paying jobs.
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15th May 12:00 AM NZST
SMW Group (NZX:SMW) to get delisted from NZX
Source: © Outchill | Megapixl.com
Operating as a diversified engineering and maintenance services provider, SMW Group Limited had kept a special shareholders’ meeting which was held online.
Its shareholders passed a resolution in support of delisting the Company from NZX and that the directors be authorised to take decisions so as to give effect to the said resolution.
It is noted that the pandemic had impacted the Group’s profitability, resulting in a non-reduction in debt payments. Hence, in order to reduce compliance and financial reporting costs, along with the costs associated with its executive team, SMW’s delisting process was initiated.
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14th May 12:03 AM NZST
NZ gives additional funding for global COVID-19 response
Source: © Lirisl | Megapixl.com
NZ Government has announced more funding support for the Access to COVID-19 Tools Acceleartor for its global COVID-19 response. Funds worth NZ$10 million will be directed to support developing nations to access testing, medical supplies, PPE kits, and other critical supplies.
Out of the said funds, NZ$8 million will be set aside for low and middle-income nations and will be directed to the Global Fund's COVID-19 Response Mechanism. The remaining will go to UNICEF to purchase medical equipment and maintain essential health services across Vietnam and the Philippines, respectively.
It is noted that New Zealand’s total contribution towards the global Covid-19 response now clocks nearly NZ$70 million.
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14th May 12:00 AM NZST
NZ progresses on its key transport projects
Michael Wood, Ministry of Transport, announced the beginning of the tender processes for the Auckland Light Rail and Additional Waitemata Harbour connections project to develop a rapid transit network across Auckland.
Source: © Patrimonio | Megapixl.com
The Light Rail project will give a 24km path and nearly 18 stations/ stops from the City Centre to M?ngere and the airport. The rail will be able to carry about 15K passengers per hour at peak, and the project will create nearly 97K jobs by 2051.
The other harbour connection project will offer sustainable and efficient transport alternatives across the harbour. The planning work on this project will begin later in 2022.
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13th May 01:36 PM NZST
Property for Industry (NZX:PFI) holds its ASM today
Property for Industry (NZX:PFI) held its annual meeting for 2022 on 13 May. The Group achieved record results in 2021, registering a PAT of NZ$452.8 million, a rise in AFFO of 15.7% and assets over NZ$2 billion. PFI negotiated leases on 150K square metres of space, and its contractual rent rose to NZ$95.6 million.
Source: © 2022 Kalkine Media®
The Group is well-placed to deliver on its strategy despite headwinds. The Group expects to deliver a 2022 dividend between 8.05 to 8.10 cps, up 2.5% on 2021 dividends.
The Group plans to achieve portfolio optimization by reading future demand, finding more regional opportunities and by accumulating parcels of land, connecting them to form estates.
PFI has also put efforts to bolster its ESG framework by releasing a second Task Force on Climate-Related Financial Disclosures (TCFD) report that also includes climate risk analysis to find the most vulnerable properties to climate change.
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12th May 12:45 PM NZST
Kiwi nation all set to welcome back international students
Source:© Delstudio | Megapixl.com
New Zealand has set the stage for welcoming back the international students on its shores from 31 July onwards.
There are nearly 5000 places for students to come to NZ, and all international students who fall in the eligibility criteria can apply here, cites Education Minister Chris Hipkins.
Also, international students' visa criteria have been adjusted, thus helping build NZ as a strong international education brand.
Hipkins, in the coming weeks, will be travelling to the USA and South America to advocate for the Kiwi nation as an international education destination.
Further, NZ authorities have also approved that international fee-paying students under Year 9 can continue to enrol in Kiwi schools.
It is noted that consultation on the refresh of the country’s 2022-30 International Education Strategy is being launched from 13 May to 24 June, which will be focused on delivering more high-value and innovative international education offerings for both its domestic as well as international students.
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11th May 12:56 PM NZST
Card spending by Kiwis rises by 7% in April: StatsNZ
According to StatsNZ, card spending rose by 7% to NZ$551 million in April. This is a larger increase as compared to the previous month.
With NZ moving to an orange setting before easter, over the long weekend Kiwis spent on all categories of consumables.
Source: © 2022 Kalkine Media®
The core retail business saw an increase of 7.4% in April. Core retail includes consumables, durables, hospitality, and apparel. The increase was mainly due to an increase in spending on consumables, up NZ$118 million, and apparel, up NZ$46 million.
Total card spending on services rose by NZ$21 million between March and April. This category includes repair and maintenance, and personal care.
Debit and credit cards used in hospitality decreased as compared with April 2021.
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10th May 01:11 PM NZST
SkyCity (NZX:SKT) secures further debt covenant relief
SkyCity Network Television Limited (NZX:SKT) notified on Tuesday that it has received debt covenant waivers for the 30 Jun testing period.
Documentation has been done with its banking syndicate and US Private Placement holders. It has also got a variation to the debt covenants for the 31 Dec testing period. SKT had earlier agreed on amended debt covenants for 30 Jun period this year.
Source: © Lesl | Megapixl.com
Further covenant relief has been taken to provide SKT with contingency if further disruptions to the operating atmosphere are caused by COVID-19.
SKT will not be able to secure new debt facilities or make distributions during the extended waiver period. The Group is optimistic about its outlook for the medium term but is unable to give any earnings guidance for FY22.
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9th May 12:51 PM NZST
NZ Govt opens New Tamaki drive cycleway
Source: © Totalpics | Megapixl.com
Michael Wood, NZ’s Minister of Transport, has officially opened the new Tamaki Drive cycleway today, as the Road Safety Week 2022 commences.
The new cycleway has received an upgrade worth NZ$14.4 million, which will encourage more people to cycle, ease traffic congestion, and would also help prevent deaths and injuries on the roads.
The project would take care of parking changes, intersection upgrades, and also a new pedestrian bridge.
The said move is the Government’s initiative to make the country’s transport system safer, greener, and more efficient.
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7th May 12:00 AM NZST
NZ plans to digitally transform forestry
Stuart Nash and Damien O’Connor, NZ’s Forestry Minister and Agriculture Minister, announced on Friday that an innovative high-tech strategy to forestry management is underway that is going to renovate the forestry industry of New Zealand.
Source: © Photojanski | Megapixl.com
Precision Silviculture is a 7-year NZ$25.5 million initiative led by Forest Growers Research Limited. NZ Government will invest NZ$10.2 million Ministry of Primary Industries’ SFF Futures to help forestry industry to shift to silviculture technology.
Silviculture is vital to handle and create value from plantation forests. It involves handling the structure, composition, quality and growth of a forest. The programme involves 4 workstreams- Nursery, Planting, Pruning and Thinning.
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6th May 01:18 PM NZST
Kiwi Property Group (NZX:KPG) gets nod to develop Drury Private Plan
Kiwi Property Group (NZX:KPG) got a nod from the Auckland Council to develop its Drury Private Plan, paving way for creation of major Green Star Community.
Source: © 2022 Kalkine Media®
This move will allow the development of KPG’s 53-hectare site, set to be the location of new Drury Town Centre as outlined in the Company’s plan.
It is intended to be a mixed-use community that will become a hub for 60,000 people. It will be a transit-oriented development that will have retail, office and residential, all within walking distance of each other and the new Drury Central Train station, scheduled to open in 2025.
This would prove to be a transformative project for the Company that will unlock thousands of houses and new jobs.
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5th May 02:31 PM NZST
Air NZ (NZX:AIR) concludes shortfall auction, equity raise, shares plunge
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4th May 01:01 PM NZST
NZ's unemployment stays at 3.2% in March quarter, wage growth surges
The unemployment rate in NZ held unchanged at 3.2% for the March quarter, as per the latest figures released by Stats NZ on Wednesday. However, wage inflation increased to 3% YOY, highest since the March quarter of 2009 and up from 2.6% in the December quarter of 2021.
Stats NZ's business prices delivery manager Bryan Downes stated that though wage inflation has shown a rise, it is not at par with the increase in living costs. NZ had reported annual inflation of 6.9% YOY last month.
Source: © Svanhorn4245 | Megapixl.com
He added that wage increases have typically exceeded the CPI increases for the last 10 years. However, wage inflation has been lower than consumer price inflation in the last four quarters despite more substantial wage growth, as per Downes.
FM Grant Robertson called it a positive result amid a challenging atmosphere. He stated that the numbers show economic confidence and solid health response, and sound economic management by the Government.
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3rd May 01:14 PM NZST
Robertson reveals new debt rules ahead of Budget 2022
Finance Minister Grant Robertson gave out a pre-budget speech on Tuesday ahead of the Budget. He revealed that healthcare and climate change would be 2 key areas to get Government spending next year.
Source: © Noracarol | Megapixl.com
Robertson has set new fiscal rules that include a new debt measure and debt ceiling on government spending. The new debt ceiling will be 30% of the GDP. The debt ceiling will set in once the government reaches a surplus, which would need surpluses between 0 and 2% of GDP. Surpluses are expected to be fulfilled by mid-2025.
Robertson added that he wants to offer economic security to Kiwis while also creating high wage jobs supporting a low emissions economy in a post-pandemic world.
The government is due to announce this year’s Budget on 19 May, revealing its spending plans over the coming 4 years.
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2nd May 01:32 PM NZST
Jacinda Ardern Speaks to New Zealand-US Business Council
The Prime Minister of New Zealand Jacinda Ardern on Monday said that New Zealand was open for business after successfully managing the COVID-19 pandemic. She was addressing the NZ-US Business Summit that was attended by the big-wigs of NZ business like RocketLab’s Peter Beck and Air New Zealand’s Greg Foran.
Ardern said that the pandemic strategy of New Zealand is a matter of record. First elimination, then vaccination and then reconnections. New Zealand reported the lowest hospitalisations in the OECD, a larger economy and the lowest unemployment on record.
She said borders are now open and New Zealand is in demand. She said it is a strong brand and it would be wise to leverage all the assets to support the New Zealand Inc.
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2nd May 12:30 PM NZST
Precinct Properties (NZX:PCT) closes its Green Bond offer
Precinct Properties New Zealand Limited (NZX: PCT) announced on Friday on the NZX that following a successful bookbuild process for its six- year secured fixed Green Bonds offer has closed.
Source: © 2022 Kalkine Media®
Approximately NZ$175,000,000 of Green Bonds (including oversubscriptions of NZ$50,000,000) have been allocated to the shareholders in the building process. However, the Company disclosed that there was no public pool for the offer.
The margin for the green bonds has been set at 1.30% per annum and the interest rate has not been announced yet. It is likely to be announced later with the final term sheets.
For further information, the investors can contact the joint lead managers .
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1st May 12:49 AM NZST
A new Pacific Business Village launched in Tauranga
A new Pacific Village to grow Pacific businesses post COVI-19 has been set up in Tauranga.
It was launched by the Minister for Pacific Peoples Aupito William Sio on Friday.
Source: © 2022 Kalkine Media®
The New Zealand government has set up this village with a view to develop the Pacific businesses on a long-term basis. It will provide direct investment to businesses to accelerate their long-term growth and assist with economic recovery from the impact of COVID-19.
The fund will provide upto NZ$100,000 grants to support the existing small and medium bsuinesses in the region outside of Auckland to create employment, stimulate growth.
A provision of NZ$16.2 multi-year appropriation has been done in Budget 2021 to support the economic development of pacific communities.
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29th Apr 12:50 PM NZST
SMW Group declares a special meeting for passing delisting resolution
Source: © Outchill | Megapixl.com
SMW Group Limited (NZX:SMW), the diversified engineering Group focusing on mining, industry, rail and defence, has today announced conducting a special online meeting of its shareholders on 13 May to carry out a resolution related to the delisting of the Group from the NZX Main Board.
Further, NZ RegCo has gone through the notice of this meeting and issued a non-objection letter for the same.
It must be noted that the delisting process would proceed only if shareholders approve the delisting.
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28th Apr 01:15 PM NZST
Vector (NZX:VCT) registers growth in gas and electricity connections
Vector Limited (NZX:VCT) provided its operational performance report on Thursday for 9 months to 31 March 2022. VCT’s electricity and gas network connections grew by 1.5% and 1.4%, respectively, in the period compared to March 2021.
However, new electricity and gas connections were down in double digits on the same period last year because of the impact of COVID curbs.
Vector’s metering business continued to fare well in NZ and Australia with connection numbers up by 7.1% for FY22 and total fleet at 1,951,398. VCT also installed over 468K advanced meters in Australia.
On 28 April, at the time of writing, VCT was trading at NZ$4.21, down 0.24%.