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Parliament on valuing Australia's teachers

THE House Standing Committee on Employment, Education and Training has announced an inquiry into the Status of the Teaching Profession.

Committee chair Andrew Laming MP said the inquiry is about what it takes for Australia to have a world-class education system.

“Australia’s teachers inspire, engage and challenge students to be the best they can. Although there are more teachers in Australia than ever, the attrition rate from the profession is rising.” Mr Laming said.

“This inquiry will examine ways to develop proper career structures and pathways for teachers to ensure that the profession remains fulfilling and rewarding for educators.  In addition, the inquiry will examine how teachers can be better supported within classrooms and schools more generally, to minimise the amount of time that is spent undertaking out-of-hours work."

Mr Laming explained that the Committee would seek to build on significant work already done in this area, and will consider relevant outcomes from two key reports —Through Growth to Achievement: Report of the Review to Achieve Educational Excellence in Australian Schools and Action Now: Classroom Ready Teachers— as well as current state and territory reforms.

In particular, the Committee wants to look at ways to overcome current constraints to deliver the best school education model for Australia. Some of those constraints include: inflexible curriculum delivery; periodic reporting and assessment practices; a lack of evidenced-based research; an absence of readily-available class room applications; time pressures for teachers and principals; and a lack of support for school principals to develop professional autonomy.

The Committee is accepting written submissions until Friday 21 December 2018.

Terms of Reference for the inquiry are available on the inquiry webpage and information about how to make a submission is available on the Parliament of Australia webpage.

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TechnologyOne Profit up 15 percent driven by TechnologyOne SaaS

AUSTRALIA's largest enterprise Software as a Service (SaaS) company, TechnologyOne (ASX:TNE) today announced its financial results for the year ended September 30, 2018, showing continuing strong growth with profit up 15 percent underpinned by the fast growth of the TechnologyOne enterprise SaaS solution.

TechnologyOne CEO Edward Chung said, “I am pleased to announce our ninth consecutive year of record profit, record revenue and record licence fees for TechnologyOne.

“Today, TechnologyOne is a SaaS company, though the market is yet to fully appreciate this fact given we started as a traditional ‘on premise’ software company.  All new customers logos in FY18 were driven by TechnologyOne SaaS.  We now have 347 large scale enterprise customers, with hundreds of thousands of users, making it the largest single instance ERP (enterprise resource planning) SaaS offering in Australia. Our annual recurring revenue is growing very fast, at 20 percent per annum.

“Our SaaS offering is delivering a compelling value proposition for our customers providing them ‘any device, anytime access from anywhere around the globe’ as well as a simple and cost-effective way to run their enterprise. This is allowing our customers to innovate and meet the challenges ahead with greater agility and speed, without having to worry about underlying technologies. We take care of all of this, making life simple for them," Mr Chung said.

“We continued to dominate in the local government sector, where we closed 11 new major deals with $80 million in contract revenue. We have more than 300 council customers and are continuing to grow fast.

“TechnologyOne also continues to see strong growth in Government with initial licence fee growing 17 percent.

“We continue to deliver exceptional projects at breakneck speed with several recent SaaS go lives being implemented in less than six weeks.

“The APAC region performed strongly with profit up 20 percent, underpinned by strong licence fee growth, significant turnaround in our consulting business and our market leading enterprise SaaS offering. We continued to invest strongly in the UK and remain excited about the significant opportunities for the coming years.

“We will continue to grow quickly, and like we have in the past 30 years, we expect to double in size again in the next five years,” Mr Chung said.

TechnologyOne executive chairman, Adrian Di Marco said, “TechnologyOne has consistently delivered strong and growing results since listing on the ASX in 1999. Our ability to deliver these results for 19 years has not relied on riding the cycle of the economy but it is because of our clear vision, strategy and our significant investment in R&D.

“TechnologyOne invested over $54 million in R&D this year. Our ability to successfully undertake large-scale cutting-edge R&D and to successfully commercialise it has underpinned our success. There are few companies in Australia that come close to the level of creativity and innovation at TechnologyOne.

“After many years of R&D investment, TechnologyOne SaaS is driving our strong results. We have today the market leading enterprise SaaS offering for the markets we serve.

“We continue to invest in new exciting ideas and innovation including Artificial Intelligence and Machine Learning, which we will ship in our 2019A release in the first half of 2019.

“These strong results would not have been possible without the talented and committed people who make up TechnologyOne led by our CEO, Edward Chung.

“In light of the company’s strong results, and our confidence going forward, the dividend for the full year has increased to 11.02 cents per share, up 8 percent on the prior year,” Mr Di Marco said.

The company has reported its sales pipeline for the new financial year remains strong. The TechnologyOne SaaS business will continue to grow strongly in the new financial year. This supports the outlook for continuing strong profit growth once again over the full year.

The company will provide further guidance at both the Annual General Meeting and with the FY19 first half results.

Further information

This market release should be read in conjunction with the TechnologyOne Investor Presentation and the TechnologyOne Statutory Accounts attached to the Appendix 4E. All documents are available on the ASX Announcement platform.

www.technologyonecorp.com

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Committee to speak to Spotify, ABC, and APRA AMCOS at upcoming public hearings

THE House of Representatives Standing Committee on Communications and the Arts will hold public hearings in Melbourne on Wednesday, 21 November and in Sydney on Thursday, 22 November for its inquiry into the Australian music industry.

The chair, Luke Howarth MP, said that the committee is continuing to examine the potential for continued growth and the factors affecting the success of the Australian music industry, both domestically and internationally.

"The rise of music streaming services, such as Spotify, have revolutionised the music industry. The recent return to growth experienced by the industry has been attributed to the rapid and continued consumer uptake of streaming services, which now account for more than half the overall recorded music market," Mr Howarth said.

"We are very interested to hear Spotify’s views on the Australian music industry—to learn how we can support this growth and how we can grow the reach of Australian music here and overseas."

The committee will also be speaking to the peak bodies of the radio industry.

"Radio remains one of the most popular ways that Australians listen to and discover new music. The committee is keen to speak to radio—public, commercial, and community—to hear how we can best support and promote Australian music," Mr Howarth said.

The committee will hear from the major copyright collecting organisations APRA AMCOS and PPCA, which are responsible for collecting and distributing royalties for artists and publishers. It will also hear from a range of other organisations and experts representing record labels, venues, live music, music education and mental health support services for artists and music workers.

The public hearings will be broadcast live on the web (audio only).

Public hearing details:

MELBOURNE: 9am to 3.30pm, Wednesday, 21 November 2018, Federation Room, Parliament of Victoria, Spring Street

SYDNEY: 8.30am to 4.30pm, Thursday, 22 November 2018, Composite Room, Sydney Masonic Conference and Function Centre, 66 Goulburn St

Programs for the hearings are available on the committee’s website.

Thrive welcomes NSW Governor to Western Sydney

THRIVE, a not for profit organisation that provides small loans and business support to refugees, today welcomed the NSW Governor’s visit to businesses in Western Sydney it has supported.

The visit demonstrated Thrive’s positive impact on refugees’ lives and the communities in which they live.

Thrive CEO Mahir Momand said he was honoured to host General David Hurley AC DSC (Ret’d) and Mrs Linda Hurley and be given the opportunity to show them first hand how businesses are benefiting from Thrive loans and its business mentoring program, and to share the story of Thrive’s success.

The Governor visited Saheleh Rahmati Reysani, manager and owner of Sahel Beauty in Parramatta, and Jamei Mahmood, owner of signage company Oxin Signs in Merrylands.

“It is such an honour to host the Governor and introduce him to Saheleh and Jamei who are wonderful examples of Thrive success stories,” Mr Mahir said.

“Both of them have worked extremely hard since arriving in Australia and with Thrive’s support, they have established very successful businesses in Western Sydney and achieved financial independence.”

Thrive, which launched in NSW in April 2016 and expanded to Victoria six months later, has lent a total of $2.5 million to people of refugee and asylum-seeking backgrounds which has helped establish more than 130 businesses and create 158 permanent jobs.

The Governor said Thrive was a wonderful initiative which was having a transformative impact on the lives of many.

“Thrive is not only meeting a clear demand, but is playing a very important role in helping people from refugee and asylum-seeking backgrounds actively contribute to the economy, society, and their local communities.”

“I was delighted to receive the invitation from Thrive to visit these businesses and learn about how Thrive has helped them achieve success.”

www.thriverefugeeenterprise.org.au

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2019 World Indigenous Housing Conference launch today at Gold Coast Entertainment Centre

THE co-chairs of the National Congress of Australia’s First Peoples, Jackie Huggins and Rod Little, know only too well the importance of Aboriginal and Torres Strait Islander Housing needs in this country.

“We have joined with Indigenous Peoples from across the world to bring together strong voices. Calling for our Rights to Shelter and Safe Housing.” said Mr Little, co-chair of the National Congress of Australia’s First Peoples.

"For too long we have had the embarrassment of Third World housing in remote Australia, this is whilst the nation has enjoyed economic booms which have not benefited our peoples or our communities. This is hidden from the United Nations. No more! 

"It’s time to join our brothers and sisters from around the world. This is a call to all first peoples to come join our partners NATSIHA to find solutions," he said.

"We have been guided our brothers and sisters in Canada where the inaugural conference was held in 2012 to here today, the 20th November 2018, on the Gold Coast at the Entertainment Centre to launch the 2019 World Indigenous Housing Conference. 

"Headlining our launch will be a message from the Hon Jackie Trad, Deputy Premier, Treasurer and Minister for Aboriginal and Torres Strait Islander partnerships."

National Congress of Australia’s First Peoples co-chair Dr Jackie Huggins said, “This is serious business, time for solutions with advice from those that live in our Australian communities and communities across the world. We have attempted to negotiate with the Federal government, participated in government policies and not enough has occurred to support communities and families."

"The National Congress of Australia’s First Peoples, as the peak organisation with over 9000 individual members and 180 organisations, is seizing this opportunity with both hands for the change that is needed. We have waited far too long. It’s time for change, shelter is a human right.

"This media launch is an opportunity to call out to Indigenous people from the Northern and Southern Hemispheres to come together for change."

Mr Little said, “Our Peoples know the importance of adequate and affordable housing is to education, health, safety and well-being of families. This conference will highlight that whilst governments squabble over money, basic needs and rights are being ignored, health is declining at alarming proportions and poverty increases.

"A change is coming is the theme song that translates to a basic human right. Come and join us to alert the world that the clock is ticking for the 2019 World Indigenous Housing Conference."

For more information about the World Indigenous Housing Conference, visit: www.2019wihc.com

ABOUT NATIONAL CONGRESS OF AUSTRALIA’S FIRST PEOPLES
 
National Congress is the peak organisation representing the rights of Aboriginal and Torres Strait Islander peoples. National Congress was established following extensive consultations with Aboriginal and Torres Strait Islander peoples and leaders and has represented Aboriginal and Torres Strait Islander peoples at the federal level since 2010. National Congress represents close to 10,000 individual members from across Australia as well as over 180 peak and other Aboriginal and Torres Strait Islander organisations.

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ACCC will not oppose Santos’ acquisition of Quadrant

THE ACCC has decided not to oppose Santos Limited’s (ASX: STO) proposed acquisition of Quadrant Energy Holdings Pty Ltd.

Santos and Quadrant are active in the production and supply of natural gas (and related condensate by-products) and crude oil in Western Australia. The parties also jointly own domestic gas processing facilities and associated fields at Varanus Island and Devil Creek.

The ACCC found after detailed investigation that it is unlikely that the proposed acquisition will result in a substantial lessening of competition in the supply of gas to domestic customers in Western Australia.

“The ACCC considers that a combined Santos/Quadrant will continue to face strong competition from a range of suppliers, including large LNG producers such as Chevron and Woodside,” ACCC chair Rod Sims said.

“Most market participants believe the Western Australian domestic gas market is currently oversupplied. While the demand-supply balance could tighten in future, the ACCC considers that the proposed acquisition will not have a significant impact on future gas prices.

“In Western Australia, gas exporters are required to reserve 15 percent of their gas for the domestic market, so this should ensure that gas available for domestic customers continues to grow, and from a range of players,” Mr Sims said.

In addition, the ACCC approached the relevant WA government departments and no concerns were expressed about the proposed acquisition.

Many market participants also did not express competition concerns, but some customers did and the ACCC investigated those concerns and took them into account in its assessment of the proposed acquisition.

Santos is an ASX-listed company that produces oil and gas in Australia and Papua New Guinea. In Western Australia, aside from interests held jointly with Quadrant, it has interests in exploration and undeveloped gas assets in the Browse, Bonaparte and Carnarvon Basin.

Quadrant is an oil and gas company with a primary focus on activities in the Exmouth and Carnarvon Basins in Western Australia. Aside from interests held together with Santos, it jointly owns the Macedon domestic gas processing plant with BHP, and has interests in various oil joint ventures and exploration permits, including in the Bedout Basin.

Further information is available at Santos Ltd - proposed acquisition of Quadrant Energy.

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FPA responds after FASEA releases Summary of Standards

THE Financial Adviser Standards and Ethics Authority (FASEA) issued a Summary of Standards for the professional standards framework for financial advisers at 7:30pm on Friday November 16, 2018, as well as two draft legislative instruments.

The Summary of Standards provides an overview of the key parameters for each of the standards which will be reflected in the forthcoming legislative instruments and associated documentation.

The Financial Planning Association of Australia (FPA) is now working through the detail and these FASEA developments will be the focus of an FPA Board meeting taking place on Wednesday November 21 in the morning before the start of the 2018 FPA Professionals Congress that afternoon.

The FPA is keenly aware of the many questions and concerns of its membership, the public, and the financial planning profession about the implications of this latest update, and is applying the necessary time and resources to a considered response.

"We will not be commenting in detail on this latest FASEA update until the right people and the FPA Board specifically has given it due priority attention," FPA CEO Dante De Gori, CPF said.

"What I can say is that one of our major priorities is to ensure that further detail is sought from FASEA regarding the practical operation of the proposed Recognition of Prior Learning (RPL) and what study/courses will be included in this process. There are more questions that naturally arise out of this Summary of Standards, and we're working closely with FASEA and our members to advocate for what we believe are the right answers, in due course."

Stephen Glenfield, CEO of FASEA, will be addressing delegates at the FPA Professionals Congress at ICC Sydney on Thursday morning November 22 and is expected to share more details of the announcement with those already registered to attend the event.

Following this, FPA Head of Policy and Standards, Ben Marshan CFP will run a Congress workshop at
10:30am titled FASEA: The new standards explained.

Over the coming weeks, FASEA will continue to release the legislative instruments for each of the standards. The two already announced are:
● Provisional Relevant Provider Expression Legislative Instrument
● Work and Training (Professional Year) Legislative Instrument.

There will be a very short consultation period for each legislative instrument, before FASEA then finalises each. The FPA is working closely, actively and with full advocacy for the interests of the Australian public, and current and future financial planning professionals. 


About the FPA
The Financial Planning Association of Australia (FPA) represents the interests of the public and Australia’s professional community of financial planners. The Association is unrivalled in its reach of the financial planning market, influence on government and regulators, standards set through a world-class Code of Professional Practice, unique position as the certification body in Australia for the global CFP® designation, and reputation for quality professional development. With a growing membership of more than 14,000 members and affiliates, the FPA is home to Australia’s 5,700 CFP professionals. Building on a 20 plus year legacy, the FPA represents the changing face of the financial planning profession.

For more information, visit www.fpa.com.au

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Tax Practitioners Board takes pre-emptive action on Kabir case

FOLLOWING the sentencing of former tax agent Mr Md Zahidul Kabir to five years’ jail for fraud and money-laundering in the Sydney District Court this week, the Tax Practitioners Board (TPB) has confirmed it terminated his registration on October 15 this year.

Mr Kabir was found guilty of fraud and money-laundering offences to the value of around $100,000. The TPB terminated Mr Kabir’s registration based on information provided by the Australian Federal Police and the Commonwealth Director of Public Prosecutions, and his guilty plea to the offences.

He has been disqualified from practising as a tax agent and may not re-apply for registration for five years.

In the wake of the Kabir hearing, the TPB Chair, Ian Taylor, said the TPB has been pursuing the case for the former tax agent’s termination.

"The termination of Mr Kabir’s registration, before the sentence was handed down by the Sydney District Court, is evidence of the effectiveness of compliance monitoring undertaken by the TPB," Mr Taylor said.

About the Tax Practitioners Board:

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Follow on Twitter @TPB_gov_au and LinkedIn

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Combatting cyber interference in elections

THE Joint Standing Committee on Electoral Matters will hold a public hearing on cyber interference in elections. The hearing is part of the Committee’s inquiry into the 2016 Federal Election.

”Although there has been no evidence of cyber manipulation or ‘fake news’ interference in Australia’s elections to date, from international events, it is important that the Electoral Matters Committee takes the initiative and is at the forefront of investigating ways to tackle this issue before it is of concern to future elections in Australia,” said Committee chair, Senator James McGrath.

The Committee will hear from a range of experts on the use of intentional dissemination of disinformation and micro targeting to influence voters; the use of data harvesting by social media platforms and associated apps and measures to bring more transparency to social media, particularly during elections.

”This Committee is just one of many parliamentary committees around the world grappling with this issue. The Committee is watching events in other jurisdictions closely and will be making recommendations in its final report aimed at safeguarding the integrity of Australia’s electoral system,” Senator McGrath said.

Public Hearing Details: 9:00am – 12:00pm, Tuesday, 20 November, Committee Room 2R1, Parliament House, Canberra.

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FASEA CEO Stephen Glenfield to make first public address at FPA Congress in Sydney

THE Financial Planning Association of Australia (FPA) is delighted to confirm Stephen Glenfield, CEO of the Financial Adviser Standards and Ethics Authority (FASEA), is addressing delegates at the FPA Professionals Congress at the International Convention Centre (ICC) on Thursday 22 November 2018 from 9am.

Notably, it will be his first public address since assuming the post of FASEA CEO in June. Mr Glenfield will be on stage to discuss the upcoming changes to the education and professional standards framework for financial planners.

Commenting on Mr Glenfield’s choice to make his first public address at the FPA Congress, FPA CEO, Dante De Gori CFP® said: “This is a powerful opportunity for delegates to hear direct from the CEO of FASEA for the first time about issues we know are weighing on their minds, such as mandatory education and training requirements, financial planner examination, and the formation of a code of ethics for all advisers.

“As we prepare for FASEA to announce the final professional and education standards framework, one thing is for sure – the financial planning profession is at a pivotal moment. We look forward to Mr Glenfield providing more clarity on the new standards, so we can work together to the advantage of all Australians."

The FPA has previously published a summary of its key recommendations for each area of the FASEA framework, and has also made copies of its full submissions available on the FPA website. As FASEA begins to confirm each of the standards for the adviser framework, the FPA is focused on developing resources for members to help them navigate the new landscape. 

About the FPA

The Financial Planning Association of Australia (FPA) represents the interests of the public and Australia’s professional community of financial planners. The Association is unrivalled in its reach of the financial planning market, influence on government and regulators, standards set through a world-class Code of Professional Practice, unique position as the certification body in Australia for the global CFP® designation, and reputation for quality professional development. With a growing membership of more than 14,000 members and affiliates, the FPA is home to Australia’s 5,700 CFP professionals. Building on a 20 plus year legacy, the FPA represents the changing face of the financial planning profession. For more information, visit www.fpa.com.au

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QRC: Victoria's message to manufacturers is 'send your jobs to Queensland'

THE Queensland Resources Council (QRC) has urged Victorian manufacturers and large gas users to relocate to Queensland if they want access to the gas needed to keep people in their jobs.

QRC chief executive Ian Macfarlane said an announcement on Friday from the Andrews Government in Victoria that it intended to permanently ban unconventional gas exploration and development means there would be less investment, fewer jobs and higher gas prices down south, but instead more opportunities in Queensland.

“Victoria is shutting up shop when it comes to gas exploration. That means it’s also shutting down opportunities for manufacturers and other gas users,” Mr Macfarlane said.

“If Victoria doesn’t want the jobs and investment, then Queensland does.

“In complete contrast to what’s happening in Victoria, in Queensland our gas industry is continuing to invest and explore to supply the gas the East Coast market needs and to keep people in their jobs.

“Just yesterday we saw the Palaszczuk Government call for tenders on a block designed specifically to supply local manufacturers. On top of that the Queensland Government awarded Armour Energy and a Shell/Santos Joint Venture (JV) rights to explore for more than 900 square kilometres of land near Surat, with conditions that the gas supply the domestic market.

“Queensland has a long and successful history of balancing the development of the resources industry with the ongoing prosperity of the agricultural industry. That’s translated to more than $387 million in payments to farmers who co-exist with the gas industry, proving to be an important extra source of income during the drought.

“Not only is Victoria sending a message that it doesn’t want to keep jobs and investment at home, the fact is it will also rely on Queensland gas flowing down south to keep the lights on.

“Victoria’s loss is Queensland’s gain. Our Queensland resources industry supports more than 300,000 jobs, pays more than $4 billion in royalty taxes and creates opportunities for regional communities. The more resources investment we have, the better for all Queenslanders.”

www.qrc.org.au

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