DOCSLIB.ORG

Great Southern Plantations Limited

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Great Southern Plantations Limited Great Southern Limited ABN 54 052 046 536 Financial Statements 30 September 2008 Contents Page Key Personnel 2 Directors’ Report 28 Remuneration Report 38 Corporate Governance Statement 50 Financial Report 55 Directors’ Declaration 138 Independent Audit Report to the Members 139 Auditor’s Independence Declaration 141 Shareholder Information 142 Corporate directory Directors D C Griffiths Chairman C A Rhodes Managing Director A McCleary P J Mansell M L Peacock J C Young P C Butlin Secretary N J Hackett Notice of Annual General The Annual General Meeting of Great Southern Limited will be held in the Ball Meeting Room, Parmelia Hilton Hotel, Perth, WA at 10am (WDT) on Thursday, 19 February 2009. Principal registered office 16 Parliament Place in Australia West Perth WA 6005 Telephone: (08) 9320 9700 Facsimile: (08) 9321 9288 Share and Transferable Computershare Investor Services Pty Ltd REset Exchangeable Level 2 Securities TREES series 2 45 St George’s Terrace (TREES2) registry and Perth WA 6000 TREES series 3 (TREES3) registry Auditor Ernst and Young The Ernst and Young Building 11 Mounts Bay Road Perth WA 6000 Solicitors Freehills Level 36 QV1 Building 250 St George’s Terrace Perth WA 6000 Bankers ANZ Banking Group Limited 77 St George’s Terrace Perth WA 6000 Trustee for TREES2 and Australian Executor Trustees Limited TREES3 holders 80 Alfred Street Milsons Point NSW 2061 Stock exchange listing Great Southern Limited shares are listed on the Australian Stock Exchange under the code GTP. TREES2 are listed on the Australian Stock Exchange under the code GTPGA. TREES3 are listed on the Australian Stock Exchange under the code GTPGB. Website address www.great-southern.com.au - - 1 - - Key Personnel Executive Committee The Group’s senior executive team is referred to as the Executive Committee. The Managing Director is supported by the Executive Committee and is responsible to the board for all areas of corporate strategy and operational performance of the Group. The Executive Committee currently comprises: Cameron Rhodes Managing Director Phillip Butlin Executive Director and Deputy Managing Director Julian Dayman Chief Operating Officer Neil Hackett Company Secretary and General Manager – Corporate Services Simon Martin Chief Financial Officer - - 2 - - Chairman’s message Dear Shareholders I am pleased to present your company’s 2008 annual report. The financial year ending 30 September 2008 has been a difficult one for the company with sales of managed investment scheme (MIS) products reducing by 24% from the previous year to $314 million and with revenue and income down 15.4% to $444 million. Profit before tax and after significant asset write downs and provisions was $19.2 million while allowances for doubtful debts and goodwill impairment produced a net loss after tax of $63.8 million. The write down of the carrying values of certain assets were made by the Company to reflect the more adverse economic climate in which it is currently operating. Having regard to the loss and the future cash flow requirements of the company, the Board decided not to declare a final dividend for the first time since listing in 1999. As announced earlier in the year the company completed a comprehensive review of its business model and the changing operating environment and a decision was made to embark upon a course of action which would seek to combine the interests of investors in the 1998 to 2003 plantation projects and the 2006 and 2007 beef cattle projects with the agricultural land bank and agricultural management skills of the company to form a substantial forestry and cattle agribusiness which we believed would prove to be attractive to investors. This exercise was named “Project Transform” to reflect the dramatically positive impact it could have upon the company. The outcome of Project Transform will be determined by meetings of the plantation and beef cattle project investors on 19 January 2009 and a meeting of Great Southern Limited shareholders which will now be held on 22 January 2009. The company also made individual offers to acquire the members’ interests in each of the 8 projects and this offer is scheduled to close on 29 January 2009. While the company will continue to promote the benefits of Project Transform leading up to the meetings it is also in the process of developing alternative plans to address the situation where Project Transform does not receive the required support for the schemes nor a material level of support for the individual offers. Like most businesses throughout the world we expect 2009 will be a very challenging year. Great Southern will be required to promote MIS products which can attract support in a tough market, maintain strict costs controls, embark on a level of asset sales and maintain a very careful management of liquidity, banking covenants and banking relationships. Maintaining cash flows and operating margins will be critical. The requirement to consider the sale of any of our existing assets will depend upon the level of success experienced by Project Transform. The sale of any existing assets and any further deterioration in the MIS agribusiness sector may lead to book losses and declines in book value in 2009. While acknowledging the risks and challenges that lie in the year ahead it is important to not lose sight of the fact that longer term trends such as the continued economic growth of Asia, the decline in logging of native forests and the rise in the importance of carbon sequestration can be expected to benefit our very substantial land bank and agribusiness over time. The recently announced conditional sales of forestry and cattle properties by companies in our sector, which are occurring even in these times of global turmoil, demonstrate a considerable level of confidence in these industries in the years ahead. Our challenge is to weather the current global financial crisis and find the opportunities to extract value from these opportunities for our shareholders. This year has been a disappointing one for shareholders with a declining share price and no final dividend. It has also been a very difficult and onerous one for our executives and employees as we have been forced to make a number of staff redundant and called upon other staff members to work very long hours and many weekends to implement Project Transform and deal with a myriad of other issues which present themselves in these times. On behalf of the board I would sincerely like to thank every member of the Great Southern team for their efforts and also to thank shareholders for their continued support for the company in what has been a very difficult year. David Griffiths Chairman - - 3 - - Managing Director’s message Dear Shareholders My first year as Managing Director of the company has certainly been a challenging one. I commenced the role in February of this year as we began a comprehensive strategic review of the business, designed to strengthen and diversify the company and to provide a more robust and sustainable business model moving forward. This strategic review process culminated in the announcement of “Project Transform” on 26 August 2008, a strategy comprising three aspects, being a proposal to significantly restructure the business through seeking to acquire the interests in eight of our MIS projects; a reorientation of the company’s agricultural investment services business; and a rationalisation and reduction of the cost structures of the group. Whilst I am convinced that the proposed transactions to acquire the MIS interests was the right idea and has the potential to enhance value for both shareholders and project investors alike, in hindsight we could probably have not chosen a worse time in which to undertake this exercise, as global equity and credit markets significantly worsened and the company’s share price declined substantially. These market conditions, along with project return and investor sentiment issues, have made the transaction process a far more difficult and challenging exercise than we ever could have imagined. Notwithstanding this, the investor meetings on 19 January 2009 will determine the outcome of the proposal, and based on proxy numbers released on 30 November 2008 and the level of individual acceptances to date, we have a reasonable prospect of at least one or both of the beef cattle projects being successful, which would provide significant value and opportunities for the company. We are also expecting some degree of success with the forestry projects, either through complete projects or a level of individual offer acceptances across all projects, which will also add strength to the balance sheet and provide future earnings and cash flow. Apart from the proposed transaction itself, the other aspects of Project Transform have also been progressing. In particular, our focus on reducing costs and increasing efficiencies has already provided tangible results, with corporate expenses for the financial year ended 30 September 2008 having reduced. This is an area which will continue to be a major focus in the coming year and one where I believe further substantial cost savings across the entire business can be achieved. The financial results for the year were clearly disappointing, having reported a net operating loss before goodwill impairment of $33.8 million, in line with guidance provided in August 2008. The loss included an allowance for doubtful debts of $56.9 million before tax (FY07 $5.6 million), which included a specific provision of $37.2 million announced in March 2008, and further provisioning reflecting the worsening overall economic environment and the expected impact of this on the performance of the loan book. The company also wrote off $30 million of intangible assets, being goodwill relating to its previous acquisitions of RFM and Sylvatech, reflecting current market conditions and uncertainty associated with the short term opportunities in respect of these assets, taking the total reported loss for the year to $63.8 million.
Load more

Recommended publications
  • An Australian Mirage
    An Australian Mirage Author Hoyte, Catherine Published 2004 Thesis Type Thesis (PhD Doctorate) School School of Arts, Media and Culture DOI https://doi.org/10.25904/1912/1870 Copyright Statement The author owns the copyright in this thesis, unless stated otherwise. Downloaded from http://hdl.handle.net/10072/367545 Griffith Research Online https://research-repository.griffith.edu.au AN AUSTRALIAN MIRAGE by Catherine Ann Hoyte BA(Hons.) This thesis is submitted in fulfilment of the requirements of the degree of Doctor of Philosophy. Griffith University Faculty of Arts School of Arts, Media and Culture August 2003 Statement of Authorship This work has never been previously submitted for a degree or diploma in any university. To the best of my knowledge and belief, this dissertation contains no material previously published or written by another person except where due reference is made in the dissertation itself. Abstract This thesis contains a detailed academic analysis of the complete rise and fall of Christopher Skase and his Qintex group mirage. It uses David Harvey’s ‘Condition of Postmodernity’ to locate the collapse within the Australian political economic context of the period (1974-1989). It does so in order to answer questions about why and how the mirage developed, why and how it failed, and why Skase became the scapegoat for the Australian corporate excesses of the 1980s. I take a multi-disciplinary approach and consider corporate collapse, corporate regulation and the role of accounting, and corporate deviance. Acknowledgments I am very grateful to my principal supervisor, Dr Anthony B. van Fossen, for his inspiration, advice, direction, guidance, and unfailing encouragement throughout the course of this study; and for suggesting Qintex as a case study.
    [Show full text]
  • Annual Report 2008-2009
    Great Southern Development Commission Building partnerships for regional prosperity Annual Report 2008-2009 Great Southern Development Commission Building partnerships for regional prosperity CONTACT DETAILS: Great Southern Development Commission Pyrmont House 110 Serpentine Road ALBANY WA 6330 Telephone: (08) 9842 4888 Facsimile: (08) 9842 4828 Email: [email protected] Website: www.gsdc.wa.gov.au Great Southern Development Commission 10 Dore Street KATANNING WA 6317 Telephone: (08) 9821 3211 Facsimile: (08) 9821 3334 Email: [email protected] Other Formats This Annual Report is available in other formats on request. The GSDC encourages readers to access the Report online through the GSDC website and to use recycled paper if they print a copy. For convenience, and to minimise download times, the annual report has been presented in sections. The online Annual Report is in PDF format. GSDC ANNUAL REPORT 2008/2009 Great Southern Development Commission Building partnerships for regional prosperity STATEMENT OF COMPLIANCE Hon Brendon Grylls MLA Minister for Regional Development; Lands; Minister Assisting the Minister for State Development; and Minister Assisting the Minister for Transport. Sir In accordance with Section 61 of the Financial Management Act 2006, we hereby submit for your information and presentation to Parliament, the Annual Report of the Great Southern Development Commission for the financial year ended 30 June 2009. In the performance of its functions, the GSDC complies with all relevant written laws including but not limited
    [Show full text]
  • Attachments (1.04
    ATTACHMENTS CORPORATE SERVICES AND FINANCE COMMITTEE MEETING 12 APRIL 2016 6.00pm City of Albany Council Chambers TABLE OF CONTENTS REPORT ATTACHMENT DESCRIPTION PG # NO. C CSF Corporate Services & Finance Committee CSF230 • Financial Activity Statement February 2016 CSF231 • List of Accounts for Payment February 2016 CSF232 • Delegated Authority Reports February – March 2016 CSF235 • Quarterly Report – Tenders Awarded January - March 2016 City of Albany MONTHLY FINANCIAL REPORT For the Period Ended 29th February 2016 TABLE OF CONTENTS Compliation Report Statement of Financial Activity Note 1 Major Variances Note 2 Net Current Funding Position Note 3 Cash and Investments Note 3A Cash and Investments- Graphical Representation Note 4 Receivables Note 5 Capital Acquisitions LOCAL GOVERNMENT ACT 1995 LOCAL GOVERNMENT (FINANCIAL MANAGEMENT) REGULATIONS 1996 City of Albany Compilation Report For the Period Ended 29th February 2016 Report Purpose This report is prepared to meet the requirements of Local Government (Financial Management) Regulations 1996, Regulation 34 . Overview No matters of significance are noted. Statement of Financial Activity by reporting nature or type Is presented on page 3 and shows a surplus For the Period Ended 29th February 2016 of $20,299,635. Note: The Statements and accompanying notes are prepared based on all transactions recorded at the time of preparation and may vary. Preparation Prepared by: S Beech Reviewed by: D Olde Date prepared: 23/03/2016 City of Albany STATEMENT OF FINANCIAL ACTIVITY (Nature or Type)
    [Show full text]
  • Inquiry Into Aspects of Agribusiness Managed Investment Schemes
    Parliamentary Joint Committee on Corporations and Financial Services Inquiry into aspects of agribusiness managed investment schemes September 2009 Commonwealth of Australia 2009 978-1-74229-186-4 Printed by the Senate Printing Unit, Parliament House, Canberra ii Members of the Committee* Mr Bernie Ripoll, Chairman QLD ALP Senator Sue Boyce QLD LP Senator Don Farrell SA ALP Senator the Hon Jan McLucas QLD ALP Senator John Williams NSW Nat Ms Sharon Grierson MP NSW ALP Ms Julie Owens MP NSW ALP The Hon Chris Pearce MP VIC LP Mr Stuart Robert MP QLD LP * Please note that Senator the Hon Brett Mason (Deputy Chair; QLD LP) remains a member of the committee but did not participate in this inquiry. * Senator Gavin Marshall (VIC, ALP) was a member of the committee during this inquiry, until 24.06.09. Senator McLucas was appointed to the committee on this same date. SECRETARIAT Dr Shona Batge, Secretary Mr Andrew Bomm, Principal Research Officer Ms Emina Poskovic, Executive Assistant With assistance from: Ms Toni Matulick, Secretary Ms Clare Guest, Executive Assistant Suite SG.64 Parliament House Canberra ACT 2600 T: 61 2 6277 3583 F: 61 2 6277 5719 E: [email protected] W: www.aph.gov.au/senate/committee/corporations_ctte iii iv Duties of the Committee Section 243 of the Australian Securities and Investments Commission Act 2001 sets out the Parliamentary Committee's duties as follows: (a) to inquire into, and report to both Houses on: (i) activities of ASIC or the Panel, or matters connected with such activities, to which, in the
    [Show full text]
  • 2013 Annual Financial Report Contact Us Bendigo and Adelaide Bank Limited ABN 11 068 049 178
    Customer connected Community focused 2012–2013 Annual Financial Report Contact us Bendigo and Adelaide Bank Limited ABN 11 068 049 178 Registered head office The Bendigo Centre 22-44 Bath Lane Bendigo VIC Australia 3550 Telephone: 1300 361 911 Facsimile: 03 5485 7000 Customer Help Centre 1300 361 911 (local call) 8.30am to 7.30pm weekdays Australian Eastern Standard Time/Australian Eastern Daylight Time Shareholder enquiries Share Registry 1800 646 042 Email: [email protected] Becoming an eShareholder Want to reduce paper and receive this document electronically? You can become an eShareholder simply by registering your mobile number and email address at www.bendigoadelaide.com.au. As an eShareholder, you will have ready access to important dates, current shareholder publications and the Company’s latest announcements. In an effort to reduce our paper consumption and impact on the environment, this Annual Financial Report is printed on FSC certified paper using environmentally friendly inks. Table of contents Chairman’s message 4 15. Financial assets available for sale - debt securities 92 16. Financial assets available for sale - equity investments 92 Managing Director’s message 5 17. Financial assets held to maturity 93 Review of operations and operating results 6 18. Loans and other receivables 94 Group performance highlights 15 19. Impairment of loans and advances 95 20. Particulars in relation to controlled entities 96 Analysis of Group performance 17 21. Investments accounted for using the equity method 98 Overview of loan and deposit portfolios 19 22. Property, plant and equipment 101 Capital adequacy 20 23. Assets held for sale 103 24.
    [Show full text]
  • Prospectus Issued by GSL Under Chapter 6D of the Corporations Act Which Is Dated 23 October 2008
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR URGENT ATTENTION. YOU SHOULD READ ALL OF IT. IF YOU ARE IN DOUBT AS TO HOW TO DEAL WITH IT, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL OR OTHER PROFESSIONAL ADVISOR IMMEDIATELY. Great Southern Managers Australia Limited Explanatory Memorandum ACN 083 825 405 GREAT SOUTHERN PLANTATIONS 1998 ARSN 092 780 204 The GSMAL Independent Directors UNANIMOUSLY RECOMMEND that, in the absence of a superior proposal, you VOTE IN FAVOUR of Your Scheme Proposal. The Independent Expert has concluded that Your Scheme Proposal is in the BEST INTERESTS of Project Investors as a whole. If you have any queries in relation to Your Scheme Proposal, this Explanatory Memorandum or the Notice of Meeting, the Project Investor Information Line may be able to assist - please call 1300 652 672 (toll free) from within Australia or +61 3 9415 4884 from outside Australia during office hours and select “option 1”. For personal use only Important notices Purpose of this Explanatory Memorandum This Explanatory Memorandum is the explanatory statement to accompany the Notice of Meeting to Project Investors in the 1998 Project and contains the recommendation of the GSMAL Independent Directors in relation to Your Scheme Proposal. Annexure 4 to this Explanatory Memorandum is the Notice of Meeting. Annexure 3 to this Explanatory Memorandum is a Prospectus issued by GSL under Chapter 6D of the Corporations Act which is dated 23 October 2008.. This Explanatory Memorandum is dated 23 October 2008. You should read this Explanatory Memorandum and each of the Annexures in their entirety before making a decision on how to vote on the Resolutions to be considered at the Meeting.
    [Show full text]
  • Great Southern Managers Australia Limited (In Liquidation) (Receivers and Managers Appointed) Acn 083 825 405
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR URGENT ATTENTION. YOU SHOULD READ ALL OF IT TOGETHER WITH THE SUPPLEMENTARY SCHEME BOOKLET OR BOOKLETS SENT TO YOU. IF YOU ARE IN DOUBT AS TO HOW TO DEAL WITH THESE DOCUMENTS, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL OR OTHER PROFESSIONAL INVESTMENT ADVISOR IMMEDIATELY. GREAT SOUTHERN MANAGERS AUSTRALIA LIMITED (IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED) ACN 083 825 405 GENERAL MEETING BOOKLET Great Southern Plantations 1998 (ARSN 092 780 204) Great Southern Plantations 1999 (ARSN 092 452 849) Great Southern Plantations 2000 (ARSN 085 669 361) Great Southern Plantations 2001 (ARSN 089 958 029) Great Southern Plantations 2002 (ARSN 095 343 963) Great Southern Plantations 2003 Scheme (ARSN 099 131 825) Great Southern Plantations 2004 (ARSN 107 811 709) Great Southern Plantations 2005 Project (ARSN 112 744 877) Great Southern Plantations 2006 Project (ARSN 112 744 902) (Schemes) This General Meeting Booklet has been issued by Great Southern Managers Australia Limited ACN 083 825 405 (In Liquidation) (Receivers and Managers Appointed), the responsible entity of the Schemes (GSMAL or Responsible Entity). IF YOU WISH TO EXERCISE YOUR VOTES ON THE GUNNS PROPOSAL, YOU SHOULD: ATTEND THE MEETINGS TO BE HELD ON 23 DECEMBER 2009; OR LODGE YOUR PROXY FORM. PROXIES MUST BE LODGED BY 11:00 AM 21 DECEMBER 2009 IMPORTANT NOTICE IN RELATION TO THE OFFER BY PULPWOOD PLANTATIONS PTY LTD Growers will not have an opportunity to consider the Gunns Proposal if the offer by Pulpwood Plantations Pty Ltd (PPPL) is approved at meetings being held on 10 December 2009 by Growers in the 1998 to 2003 Great Southern Plantation Schemes.
    [Show full text]
  • AIEH Annual Report 06#.Indd
    Australian Institute of Environmental Health Annual Report 2006 ������������������������������������������������� MMASTECASTEC ������������������� MASTEC Australia Pty Ltd has been leading the way in waste industry technology for over Australia thirteen years. From its relatively humble beginnings in Adelaide, Mastec has gone on to Australia become one of Australia’s leading manufacturers and suppliers of Mobile Garbage Bins (MGBs). From it’s state-of-the-art bin manufacturing facilities and custom hot-stamping PPtyty LtdLtd operations, through to its fully-integrated national bin assembly and distribution service, Mastec’s focus on providing 'Total Bin Solutions' has seen the Company become the preferred supplier of bins for numerous Councils, contractors and waste authorities throughout Australia. When it comes to bin distribution, timing and accuracy are everything in fact, they can quite literally spell the difference between a successful launch of a new system or a complete disaster! Mastec’s national bin assembly and distribution system will help you to ensure that your new bins are delivered on time and correctly - regardless of your location. From major capital cities and regional centres, through to the most remote communities, Mastec has the equipment and know-how to make sure that your bin distribution needs are met throughout all Australian states and territories. ����������������� ���������������������������������� ��������������������������� ��������������������������������� ��������������������������������������� �����������������������
    [Show full text]
  • City of Albany, Shire of Plantagenet, Shire of Denmark & Great Southern
    CITY OF ALBANY, SHIRE OF PLANTAGENET, SHIRE OF DENMARK & GREAT SOUTHERN DEVELOPMENT COMMISSION SOUTH COAST INDUSTRIAL ECOLOGY MAPPING AND INDUSTRY ATTRACTION STRATEGY FINAL REPORT OCTOBER 2015 DISCLAIMER This report has been prepared for City of Albany, Shires of Denmark and Plantagenet, the Great Southern Development Commission and LandCorp. The information contained in this report has been prepared with care by the authors and includes information from apparently reliable secondary data sources which the authors have relied on for completeness and accuracy. However, the authors do not guarantee the information, nor is it intended to form part of any contract. Accordingly all interested parties should make their own inquiries to verify the information and it is the responsibility of interested parties to satisfy themselves in all respects. This report is only for the use of the party to whom it is addressed and the authors disclaim any responsibility to any third party acting upon or using the whole or part of its contents. Document Control Document Version Description Prepared By Approved By Date Approved Jason McFarlane v 1.0 Draft SCIEMIAS Jason McFarlane 22nd May 2015 Dawson Demassiet-Huning Jason McFarlane v 2.0 Draft SCIEMIAS Michael Chappell 22nd July 2015 Dawson Demassiet-Huning v 3.0 Draft SCIEMIAS Dawson Demassiet-Huning Michael Chappell 4 August 2015 v 4.0 Draft SCIEMIAS Dawson Demassiet-Huning Jason McFarlane 18 September 2015 v 5.0 Final SCIEMIAS Dawson Demassiet-Huning Jason McFarlane 20 October 2015 PERTH: 23 Lyall Street
    [Show full text]
  • Great Southern Development Commission
    Great Southern Development Commission Annual Report 2012-2013 CONTACT DETAILS: Great Southern Development Commission Pyrmont House 110 Serpentine Road ALBANY WA 6330 Telephone: (08) 9842 4888 Facsimile: (08) 9842 4828 Email: [email protected] Great Southern Development Commission 10 Dore Street KATANNING WA 6317 Telephone: (08) 9821 3211 Facsimile: (08) 9821 3334 Email: [email protected] Website: www.gsdc.wa.gov.au Other Formats This Annual Report is available in other formats on request. The GSDC encourages readers to access the Report online through the GSDC website and to use recycled paper if they print a copy. The online Annual Report is in PDF format. Production Printed by Hidewood Enterprises, Hercules Crescent, Albany. STATEMENT OF COMPLIANCE Hon Brendon Grylls MLA Minister for Regional Development; Lands; Minister Assisting the Minister for State Development Sir In accordance with Section 63 of the Financial Management Act 2006, we hereby submit for your information and presentation to Parliament the Annual Report of the Great Southern Development Commission for the financial year ended 30 June 2013. In the performance of its functions, the GSDC complies with all relevant written laws including but not limited to: Regional Development Commissions Act 1993 (as amended) Corruption and Crime Commission Act 2003 Disability Services Act 1993 Equal Opportunity Act 1984 Financial Management Act 2006 Freedom of Information Act 1992 Industrial Relations Act 1979 Minimum Conditions of Employment Act 1993 Occupational Safety and Health Act 1984 Public Interest Disclosure Act 2003 Public Sector Management Act 1994 Royalties for Regions Act 2009 Salaries and Allowances Act 1975 State Records Act 2000 State Supply Commission Act 1991 In the financial administration of the GSDC, we have complied with the requirements of the Financial Management Act 2006 and every other relevant written law.
    [Show full text]
  • A Strategy for the Conservation of Threatened Species and Threatened Ecological Communities in Kakadu National Park | 2014-2024
    A strategy for the conservation of threatened species and threatened ecological communities in Kakadu National Park | 2014-2024 By J.C.Z. Woinarski and S. Winderlich - October 2014 Vision: Kakadu National Park will be celebrated as a place in which management provides for the effective conservation of threatened species. Acknowledgements This strategy has been commissioned by Kakadu National Park. It responds to the interest and concerns of the Kakadu Board of Management, traditional owners, staff in Kakadu National Park and Parks Australia, and the Kakadu Research Advisory Committee. The strategy will be progressively implemented by Kakadu National Park over 10 years. Some recommendations are already being implemented, while others require further planning and consultation. This strategy was developed with the support of the North Australian Hub of the National Environmental Research Program. Michael Douglas oversaw the management and production of this strategy, and Jaana Dielenberg and Carli Piltz its layout and production. Vanessa Adams, Nick Dexter, Sam Flakus and Alaric Fisher provided helpful comments on earlier drafts. The strategy was initiated at a workshop held in Kakadu in March 2013, with the attendance and significant inputs from Alan Andersen, Roy Anderson, Frederick Baird, Mathias Baird, Josh Bean, Ryan Barrowei, Stuart Blanch, Mary Blyth, Roman Chaloupka, Peter Christophersen, Peter Cooke, Anthony Contarino, Ian Cowie, Samantha Deegan, Mark Ellis, Katie Elsley, Alaric Fisher, Stephen Garnett, Cherie Gellert, Graeme Gillespie, Louise Harrison, Michael Hammer, Fred Hunter, Jenny Hunter, Craig Ingram, Sarah Kerin, Peter Kyne, Violet Lawson, Jeff Lee, Sandra McGregor, Dan McIntyre, Andrew McPhee, Brendan Mee, Greg Miles, Ian Morris, Gleeson Nabulwad, Grant Nayinggul, Connie Nayinggul, Anne O’Dea, Gabrielle O’Loughlin, Margaret Rawlinson, Buck Salau, Ben Tyler, Berribob Watson, Sean Webster, Dion Wedd, Kathy Wilson and Dean Yibarbuk.
    [Show full text]
  • Russia Plans to Dramatically Increase Its Export Tax on Logs a Structural Change in Global Wood Markets
    Equity Research Industry Update February 22, 2007 Paper & Forest Products Sector Weighting: Underweight Russia Plans To Dramatically Increase Its Export Tax On Logs A Structural Change In Global Wood Markets On February 5, the Russian government announced that it will be steadily increasing its export tax on logs over the next two years. It will rise from 6.5% at present, to 20% in July 2007, 25% in April 2008, and 80% in January 2009. The objective is to stimulate the domestic processing of logs. This event is significant because Russia is the powerhouse of the global log market. Russia currently supplies about 40% of the world's exports of softwood logs. Russia also accounts for over 80% of the logs imported into China and Finland, and a high percentage going to Japan and S. Korea. In our view, this is a meaningful event that signals a fundamental structural change in the global market for logs. This shock, in conjunction with two others, may well be sufficient to shift the perception of wood from being relatively abundant to relatively scarce. The biggest winners from this shock are companies with large timber operations like: Plum Creek, Rayonier, and Weyerhaeuser in the U.S.; TimberWest in Canada; Gunns and Willmott Forests in Australia; and Sino- Forest in China. The biggest loser is likely Sumitomo Forestry in Japan. All figures in Canadian dollars, unless otherwise stated. 07 -72179 © 2007 CIBC World Markets does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
    [Show full text]