January 27, 2021 03:21 PM NZDT
SkyCity Entertainment Group Limited (NZX:SKC), on 27 January 2021, declared via a release that there will be three internal appointments made to its senior leadership team, which will come into effect from 1 February 2021. The hiring is announced post a review of the Company’s ongoing executive structure.
Meanwhile, the stock was trading at NZ$3.04, down 0.33%, with market capitalisation at NZ$2.36 billion at 2:23 PM NZDT.
January 27, 2021 03:20 PM NZDT
Some of the highlights from the report are as following:
The Company generates electricity through renewable sources such a water, wind and sun and therefore is committed towards the sustainability goals.
Meanwhile, the Company traded in red at NZ$7.74, down 2.03% with market capitalisation at NZ$20.79 billion at 1:44 PM NZDT.
January 27, 2021 03:10 PM NZDT
Biotechnology firm, Blis Technologies Limited (NZX:BLT) announced on 27 January 2021 that the Company and its associate e-commerce and digital agency RooLife Group Limited (ASX:RLG) are finally launching the wide product range of Blis probioticsTM on online retail giant Alibaba’s Tmall Global marketplace.
The launch took place at an event in Dunedin with Alibaba Group in China on 26 January 2021. For the sake of same, Blis Technologies has collaborated with the RooLife Group, a specialist company when it comes to e-commerce and digital marketing aimed in China.
Here are some key details of the launch:
Meanwhile, the stock was quoted at NZ$0.081, down by 1.22% per share with market capitalisation NZ$88.96 million at 12:56 PM NZDT.
January 27, 2021 02:42 PM NZDT
Canadian miner, Yamana Gold reported strong production results for the year 2020.
January 27, 2021 02:12 PM NZDT
Canada based mining company, First Quantum Minerals reported its record high annual copper production of 779kt in 2020, 11 per cent up against the corresponding 2019.
January 26, 2021 04:24 PM NZDT
Vector Limited (NZX:VCT) released its operating report for 6 months ended 31 December 2020 on 26 January 2021.
Vector's business operations were affected in 1H21 due to COVID-19 with NZ under Alert Level 2 and Auckland under Alert Level 3 in Q1. Growth in the Auckland region continued in 1H21 that led to robust electricity and gas network connections.
Some of the highlights of the Vector's operations included the following:
Gas and electricity distribution volumes were reduced in 1H21 due to diminished activity from industrial and business-related sectors amid COVID-19.
Further, SAIDI minutes were about 21.4% lower than the corresponding duration for 9 months ended 31 December 2020. This was attributed to continued network investments to enhance reliability, collaborating with teams and vendors of the Group on measures to lower the impact on customers and fewer adverse weather events.
Read the full report here; Vector (NZX:VCT) releases decent 6-month operating report
January 26, 2021 04:23 PM NZDT
Genesis Energy Limited (NZX:GNE) released its Q2 results for FY21, on January 26, 2021.
In the announcement, Genesis has shown strong focus on reducing emissions. The Company release said that Genesis has committed to reducing emissions to at least 1.2 million tonnes by 2025.
Here are some highlights of the Q2 FY21 results:
It may be noted that Genesis is reassessing the returns and risks involved in drilling activities. After the strategic review, the board will take a decision on whether to keep the Kupe investment or sell it off.
To read the full article, click here.
January 26, 2021 04:19 PM NZDT
In a recent announcement, one of the largest telecommunications providers in the country, Chorus limited (NZX:CNU) has provided its connections update for the second quarter of FY21.
While the fibre uptake has witnessed a rise and reached 63%, the UFB rollout has been 92% concluded. There was an 8k rise in the amount of 1Gbps connections, while the broadband connections witnessed a rise of 29k (in Q1 FY21: +33K, while on pcp, was recorded +36k).
It was further announced, the completed UFB footprint fibre uptake had witnessed a rise of 1% to the current 63%. The strongest UFB1 Fibre uptake has been registered in areas such as the Waiheke island and Wellington at 66%.
The novel UFB2 townships were revealed to be Taumarunui, Cheviot, Taipa Bay Mangonui, Matapouri, Hunterville, Lawrence, Karapiro and Amberly, respectively.
It was further that COVID related restrictions have had an impact on the net migration. What’s more, the gain from migration has decreased, due to lack of population owing to the border restrictions due to the pandemic. It used to be 6,000 a month and has reduced to become 600 per month.
On the flipside, the fibre monthly usage has witnessed a surge from 456GB in the month of September to 460 GB.
On 26 January 2021, at the time of writing, CNU was trading at NZ$8.36, declining by 0.48%.
January 25, 2021 03:04 PM NZDT
Steel & Tube Holdings Limited (NZX:STU) hires Richard Smyth in the role of Chief Financial Officer and he will be assuming the office from 27 April 2021 onwards, a Company release said on Monday.
Richard has been working with SkyCity Entertainment Group for past 16 years and as the Deputy CFO since last 7 years.
Richard has also worked for PricewaterhouseCoopers as a director.
Mark Malpass, CEO, STU on the appointment, said that Richard brings a broad capability to the role and has considerable technical and commercial skills, strategic thinking and extensive experience and networks.
He is also popular for his people skills and team spirit.Talking about his own appointment, Richard said, he is excited because STU has an iconic history and has a robust strategy in place.
It should be highlighted that Richard has a Bachelor in Commerce degree and is a member of NZ Accounting Standards Board.
January 25, 2021 03:02 PM NZDT
Auckland International Airport Limited (NZX:AIA) shared the monthly traffic update for November 2020 along with December 2020 preview on 25 January 2021.
According to the figures shared by the AIA:
In December 2020:
January 25, 2021 02:45 PM NZDT
Peru’s government is working on a report to overrule Supreme Decrees 027-2020-EM and 028-2020-EM, granted on December 10, 2020, allowing Nuevo Arcoiris S.A.C, to acquire and hold mineral exploration rights.
January 25, 2021 02:44 PM NZDT
Image Source: Shutterstock
A new study by researchers from Durham University and the University of Nottingham discovered that the fatal Córrego do Feijão dam collapse could have been predicted by using proper satellite radar imaging technology.
January 24, 2021 12:02 AM NZDT
In the wake of making work environment safer for the frontliners in border isolation ward facilities, saliva testing for COVID-19 will now be offered every day.
Image Source: Shutterstock
The Jet Park Quarantine Facility, situated in Auckland, is the first to receive this additional testing option, commencing from 25 January 2021. The option will then be offered in other facilities such as the ones situated in Christchurch and Wellington.
The COVID-19 response minister Chris Hipkins revealed that these new measures were a part of the plan of action taken due to the increase in COVID-19 cases of more infectious kind witnessed recently.
The staff at quarantine facilities will be given these voluntary services. Though saliva tests are not going to replace the more widely used nasal swab method of testing as that is more reliable, they are going to be used as an additional measure to fight the looming threat of COVID-19. One of the major benefits of these tests is that it is less invasive and hence cause lesser discomfort.
This could act as an additional insurance way for healthcare workers. He further said that the safety of the healthcare workers remained to be the top priority for the government at that moment. The role of COVID-19 testing using saliva can change over the time and findings about the same shall be revealed in March 2021.
January 24, 2021 12:00 AM NZDT
The Commerce Commission has recently revealed the primary concerns for Can Plan Nelson, which is acquiring a few assets of Nelmac Limited, also known as Betta Bins, the company that deals in the waste collection business.
The assets in question are -
The said transaction, however, does not include assets from Betta Bins’s Recycling business. Currently, the commission is inviting parties interested in give comments on the sort of effects the acquisition can have on the companies’ businesses.
While the commission has given an email address to people who wish to send submissions, it has also asked interested parties to make a version of their submission public, which should also be available to the case register of the commissioner.
Image Source: Pixabay
While the decision-making date is March 9, 2021, there may be some extension on the same.
Waste collection from residents is the forte of Can Plan, which uses the prepaid wheelie bins and the pay-as-you-go rubbish bags. The Company collects green waste in every 15 days and provides larger bins as per the requirement of commercial customers. The services are rendered in areas such as Richmond, Brightwater, Nelson City, Motueka, and Wakefield.
Similar to Can Plan, Nelson City-owned Betta Bins also offers green waste collection every 15 days. The commission will decide on the merger, depending on whether the company believes that a merger does not have an adverse impact on the business’s market competition.
January 23, 2021 12:02 AM NZDT
Oceania Healthcare (NZX:OCA) announced interim results for 6 month ended 30 November 2020. It reported an underlying EBITDA of NZ$35.4 million for the period, up by 2% compared to pcp.
Oceania witnessed solid sales volume and robust demand for its premium care suites throughout NZ in the first half of the financial year.
Some of the highlights of the Group’s financials for the first half of FY21 included of the following:
Oceania also completed a heavily-oversubscribed retail bond issue in October 2020 and raised up NZ$125 million. The Group remains on the track to complete 217 new independent living units and care suites prior to 31 March 2021.
Oceania has resource consents in hand for 84.2% of its 1,780 unit/bed development pipeline, which are planned to be delivered over the next six years.
January 23, 2021 12:00 AM NZDT
NZ Government is offering NZ$3 million to assist disabled people around NZ to get support in their communities. The objective of the funding is to allow disability service providers to create digital and community-based solutions for the disabled people affected by COVID-19 over the next 2 years.
Minister for Disability Issues, Carmel Sepuloni, stated that 16 organisations would get funding for schemes that help disabled people to get support, become independent and keep them connected with their friends and whanau through new and sustainable methods.
There will also be focus on schemes that promote community participation, which is crucial for the welfare and sense of belongingness of disabled people.
He also noted that there are many impressive projects from encouraging adults with dementia to build their own multimedia storybook of memories, promote online dance and music activities for disabled people in remote communities, and provide online platforms to connect disabled people with coaches and volunteers.
The seed funding, which was allotted for FY21, is a part of the government's reaction to the first lockdown for people with disabilities. Regular progress reports would be needed for the duration of the seed funding.
January 22, 2021 03:38 PM NZDT
Here are the key takeaways from the update:
A leading designer, manufacturer and marketer of products and systems used in respiratory care, the Company has churned out huge profits in past one year, owing to the kind of challenges COVID-19 has thrown on the world.
Fisher & Paykel’s Managing Director and CEO, Lewis Gradon shared that more and more patients wanting hospitalisation for respiratory treatments across the world and the healthcare professionals are having a hard time dealing with the situation.
The hospitalisation rates have boosted the hardware sales and therefore, the operating revenue for the nine months ended on 31 December, last year was higher by 73% compared to the last corresponding period.
Meanwhile, on 22 January, at the time of writing, FPH on the ASX traded at AU$32.56 per share, up 6.06%, whereas, on the NZX, the stock traded at NZ$35.04, up 5.35% at 2:42 PM NZDT.
January 22, 2021 03:01 PM NZDT
The New Zealand Refining Company Limited (NZX:NZR), on 22 January 2021, shared an update to the market regarding potential import terminal conversion prior to its full year results announcement in February 2021.
Here are some key highlights from the announcement:
Meanwhile, the stock NZR was found trading at NZ$0.550 at 1:53 PM NZDT.
January 22, 2021 03:00 PM NZDT
The stronger-than-anticipated inflation cues in New Zealand suggest that interest rates will remain unchanged and there will be no rate cuts.
The Reserve Bank of New Zealand (RBNZ) has anticipated that inflation will go steeper than the bottom of its 1-3% target range in the year of 2021. This in a way tells that the monetary policy will stay a bit loose.
But according to the financial analysts, the overall economy has recouped more rapidly than expected from last year’s COVID-induced recession and the hints of looming price pressures indicate that the central bank will hardly require to play with the rate cuts.
As per the figures shared by the Statistics New Zealand on Friday:
On the report shared by the government, the New Zealand dollar increased around a quarter of that of a US cent and pushed to reach 72.15 cents.