Business News Releases

Keytone Dairy to list on ASX July 18

KEYTONE Dairy Corporation Ltd -- with a pending ASX code of KTD -- will be listed on the Australian Securities Exchange (ASX) via an Initial Public Offering (IPO) tomorrow, July 18 at noon.

Keytone Dairy capital raising closed with an oversubscription of A$15 million through the issuing of 75 million ordinary shares at the issue price of $0.20 per share. On listing the company will have a market capitalisation of $30 million.

As part of the IPO, Keytone Dairy will acquire Keytone Enterprises (NZ) Company Limited (Keytone NZ) which is a profitable New Zealand-based company manufacturer, packer and exporter of dairy and nutrition blended products, with a focus on powdered dairy products.

Keytone Dairy’s proprietary manufacturing facility, located in Christchurch, New Zealand, produces commercial whole and skim milk powder as well as other dairy powder blends under its proprietary brands. The company also contract-packs a range of powdered dairy products for major supermarkets, retail chains, dairy producers and other customers, in New Zealand and China, under their private label brands. 

Keytone Dairy’s products are exported globally, including to China, for sale in a variety of channels, including major supermarket chains, premium retail channels and online marketplaces. Keytone Dairy holds the coveted China Certification and Accreditation Administration (CNCA) licence, a pre-requisite for importation of dairy products into the People’s Republic of China. It is also Halal-certified, enabling exports into Muslim countries.

Keytone Dairy’s customers and distribution channels include, New World, PAK’nSAVE, Countdown (Woolworths New Zealand subsidiary), Dairyworks New Zealand, Metro, Guangzhou Dept. & Friendship Store, HalsoKraft, JD.com, Tmall.com and VIP.com.

Funds from the IPO will be used primarily to expand the company’s manufacturing base from its one existing facility to include two new manufacturing facilities it plans to build. Keytone Dairy also plans to expand its product range, distribution network and develop distribution in additional geographic markets.

About Keytone Dairy

Keytone Dairy Corporation Ltd is the Australian wholly-owned subsidiary of Keytone Enterprises (NZ) Company Ltd, a New Zealand-based manufacturer, packer and exporter of dairy and nutrition blended products, with a current focus on powdered dairy products. Keytone Dairy has successfully commercialised and is currently selling whole and skim milk powder and other dairy powder blends under its proprietary brands, as well as manufacturing and packing a range of powdered dairy products for leading supermarkets, retail chains, dairy producers and other customers under their private label brands.

https://www.keytonedairy.com

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QRC says lots of jobs available in Queensland mining

QUEENSLAND'S resources sector has hundreds of job vacancies from Townsville and Mt Isa in the North, to Toowoomba and Roma in the South and in the nation’s biggest mining town Brisbane, according to the Queensland Resources Council (QRC).

QRC chief executive Ian Macfarlane said there were currently close to 1,400 Queensland job vacancies in mining, resources and energy on the employment website SEEK.

"To borrow the famous quote from Lord Kitchener, ‘we want you’ to apply for a job in resources and fill these vacancies,” Mr Macfarlane said.

"Jobs in the resources sector are good jobs. Resource jobs are well-paid jobs. The mining industry has by far the highest average weekly full-time adult earnings of any industry at $2659 – or over $138,000 per annum.

"Our sector continues to drive economic opportunities both in the regions and the larger cities and if we are to maintain this momentum and increase royalties the sector needs people operating the machinery, loading the ships and working with communities."

The latest Australian Bureau of Statistics (ABS) labour force data revealed the sector was creating a job every hour or 8400 new jobs over the last 12 months.

"The Palaszczuk Government has been committed to maintaining an unemployment rate with a ‘five in front of it’. The resources sector shares the Government’s ambition, and we are ready, willing and able to deliver," Mr Macfarlane said.

QRC’s March quarter State of the Sector report found jobs growth in the coal, minerals, petroleum and gas industries were very strong with a survey of chief executive officers (CEOs) of QRC member companies finding 52 percent would increase their Queensland workforce over the next 12 months, with 13 percent looking to increase employment ‘substantially.’

Only 9 percent of CEOs surveyed said they planned to reduce staff over the next 12 months, with none of the CEOs expecting a substantial decrease.

The Queensland resources sector supports more than 280,000 full-time jobs and contributed over $55 billion to the State’s economy in 2016/17.

Total vacancies in Queensland for mining, resources and energy is 1,396, according to SEEK.

Region

SEEK mining, resources and energy vacancies

Brisbane

288

Gladstone and Central Queensland

161

Rockhampton and Capricorn Coast

115

Mackay and Coalfields

519

Townsville

97

Mount Isa

87

Toowoomba and Darling Downs

43

Roma and Western Queensland

87

www.qrc.org.au

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Brisbane Lord Mayor’s Business Awards nominations close July 20

NOMINATIONS for the 2018 Brisbane Lord Mayor's Business Awards close on Friday, July 20.

The awards celebrate success and aim to showcase the achievements of Brisbane businesses and entrepreneurs making contributions to the continued growth of our economy.

Inspiring individuals and businesses can nominate for 10 categories:

  • CCIQ Award for Outstanding Small Business
  • Australia Pacific LNG Award for Business Innovation
  • Queensland Urban Utilities Award for Product Innovation
  • ISPT Award for Digital Adoption Strategy
  • ANZ Award for High-growth Business Start-Up
  • Yurika Award for Sustainability in Business
  • HSBC Award for Doing Business in Asia
  • Port of Brisbane Award for Investment in Brisbane
  • Singapore Airlines Young Business Person of the Year Award
  • Channel 7 Business Person of the Year Award

Winners from these business categories have the opportunity to be awarded the Optus Business Platinum Award.

Winners will be unveiled at the prestigious Gala Dinner on Friday, October 19 at Brisbane City Hall.

www.lmba.com.au

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Naomi Simson enters the Retail Realm

The Australian Retailers Association (ARA) is pleased to announce that Naomi Simson, founding director of online experience retailer RedBalloon, will be the key note speaker for the 2018 eftpos ARA Australian Retail Awards.

Known for her regular appearance on Network Ten’s popular television series, Shark Tank, Naomi is one of Australia’s most prominent entrepreneurs and business leaders.

Russell Zimmerman, executive director of the ARA, said the ARA was excited to host such an innovative retailer and passionate business influencer for this year’s Awards.

“Naomi is not only a leader in the industry, she brings a wealth of business knowledge and will be able to provide valuable industry insights across various elements in the retail realm for retailers of all sizes,” Mr Zimmerman said.

“We’re excited for Naomi to share her knowledge of the retail realm and insights into how retailers across the country can engage better with their consumers across various forms of technology and communication platforms.”

With this year’s 2018 eftpos ARA Australian Retail Awards themed around the Retail Realm and focusing on retailers who think outside the shop, the ARA have brought on a panel of industry experts to judge each sought-after award.

“This year’s Award categories - customer experience, retail workers and industry leaders - encapsulate elements of the Retail Realm from supply chain management, business growth and technology, to customer experience, payments and employee development,” Mr Zimmerman said.

“Therefore, this year, we’ve searched the industry for exemplary retail professionals who are not only skilled in these technical areas but have been influencers in the retail sector themselves.”

The 2018 eftpos ARA Australian Retail Awards panel of judges include Radinck van Vollenhoen, country manager of Stocard, Australia’s leading mobile wallet app; Bernie Brookes AM, adjunct industry fellow at Swinburne University of Technology; and Camille Reed, founder of Australian Circular Fashion (ACF), the first industry-only event in Australia focussed on responsible fashion practice and supporting economic growth.

Further additions to the panel include Rupert Deans, founder of Plattar, the first platform to use augmented reality to transform the way customers experience products; and Warwick Ponder, head of corporate affairs and communications at eftpos Australia.

With such a broad range of industry specialists across various retail functions, the 2018 eftpos ARA Australian Retail Awards will surely be an event not to be missed.

“I’m certainly looking forward to seeing the calibre of talent across the industry and of course seeing Naomi Simson take the stage,” Mr Brookes said.

“Being in such close proximity to a retail entrepreneur would be a dream for many, and I am certainly glad I get to be a part of the experience and included in such a prominent industry Awards program like the ARA Australian Retail Awards.”

The 2018 eftpos ARA Australian Retail Awards will be held on Thursday 18 October at the Myer Mural Hall in Melbourne. The ARA encourage retailers of all sizes to submit an entry by nominating an influential leader or instrumental employee before Friday 10 August via the 2018 eftpos ARA Retail Awards platform.

To secure your seat for the 2018 eftpos ARA Australian Retail Awards head to The Retail Realm.

About the eftpos ARA Australian Retail Awards:

First held in the 1970s, the eftpos ARA Australian Retail Awards are the nation’s longest running and most prestigious retail event, recognising and rewarding outstanding retail businesses, innovations, and individuals across all sectors of retail. Relaunched in 2008, the annual 2018 eftpos ARA Australian Retail Awards breakfast will commence on Thursday 18 October at the Myer Mural Hall in Melbourne. For more information regarding the 2018 eftpos ARA Australian Retail Awards email This email address is being protected from spambots. You need JavaScript enabled to view it..

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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A wake-up call for all: Tax Gap

THE ‘Individuals not in business tax gap’ report issued by the ATO should be a wake-up call for all taxpayers, regulators, government and tax practitioners, according to the Institute of Public Accountants (IPA).

“The report identifies that 72 percent of the 858 cases in the ATO’s random sample, contained errors and that is a worrying statistic, given the quantum of the gap and considering Australia’s current fiscal position,” said IPA chief executive officer, Andrew Conway.

“Even if you question the robustness of the methodology, the ‘tax gap’ is a guestimate at best; however, you can’t argue that this report points to a serious issue.

“There are many aspects to the problem, including complacency and people who simply flaunt the system, including individuals and rogue agents.

“The complexity of the tax system also makes it easy to make errors.  For example, the substantiation rules for work related deductions up to $300 have inappropriately driven the perception of getting a ‘free kick’.

“The report which spans a two year time frame is acknowledged by the ATO as not being adequate to define a trend so it is a timely reminder that individuals and Tax Agents must commit to raising the bar.

“It should be noted that often the work of the Tax Agent is only as good as assertions made by their client.  The Tax Agent is not required to validate all client assertions.

“It is also human nature for individuals to want to maximise refunds and in doing so may mislead their Agent in the course of preparing their return.

“The IPA continues to carry out quality assurance of its members and actively seeks to weed out unprofessional behaviour and reduce error rates.

“It is also important not to tar those Agents doing the right thing with the one ATO brush.  If a Tax Agent deliberately flaunts the law, we will work with the ATO and weed them out.

“We must keep in mind that a vast number of Tax Agents are highly professional and endeavour every day to comply with their legal and ethical obligations in an increasingly complex tax system,” said Mr Conway.

www.publicaccountnats.org.au

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