Business News Releases

NSW Government contractor condemned for denying sick leave to isolating Opera House workers

THE NSW Government must intervene to force its contractor, Downer, to allow Opera House workers to take sick leave while they self-isolate for 14 days due to a COVID outbreak, according to the Electrical Trades Union (ETU).

About 20 ETU members are isolating as close contacts after a construction worker on site tested positive for COVID-19 and have been told they must use their annual leave.

Meantime, other staff including Opera House performers, have been allowed to take sick leave as they follow NSW Government health orders.

ETU organiser Fred Barbin has condemned Downer and is urging the NSW Government to take action.

“In the middle of an unprecedented outbreak in NSW, we should be doing all we can to encourage workers to comply with the health orders and keep our community safe,” Mr Barbin said.

“Denying workers sick leave and forcing them to dig into their annual leave or RDOs is the exact opposite. Through no fault of their own, these construction workers will have to cancel holidays because they have exhausted their leave.

“At the same time, Opera Australia is doing the right thing by paying pandemic leave to hundreds of performers who are isolating due to the same COVID-19 incident.

“Downer’s actions punishes workers who were sent home on the orders of NSW Health for the protection of the community," Mr Barbin said.

“Our Downer members are long-term employees who should be able to access their accumulated sick leave in this health emergency.

“Instead the company is using the COVID crisis to claw back annual leave that will be lost to workers and their families.

“What a cynical and heartless move by a major contractor on a government-funded contract.

“The NSW Government must take a stand and ensure Downer sets the right example for all companies across NSW."

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Banks offer certainty to small businesses impacted by lockdowns 

THE Australian Small Business and Family Enterprise Ombudsman Bruce Billson has welcomed the banks’ ongoing efforts to support small businesses impacted by COVID-19 lockdowns.

The Australian Banking Association said banks would defer loan repayments for small businesses affected by lockdowns throughout Australia for three months.

“This is a positive initiative that will help many struggling small businesses stay afloat in these challenging times,” Mr Billson said.

“The banks’ commitment to support small businesses through this period is highly valued and is the kind of a key support element that could be incorporated into an agreed predictable and known national framework of support. 

“Such a framework, involving both government and private sector elements, step up as COVID-inspired economic constraints and introduced, up-levelled or extended that small and family businesses can count on when seeking to navigate these challenging and uncertain times

“I would encourage all small businesses owners who are experiencing financial difficulties to call their banks now to make the necessary arrangements," Mr Billson said.

“Home loan support, including deferrals on a month-by-month basis, is also available to small business customers.

“Banks are promising to support small businesses if they need it - so long as the loan is in good standing with repayments up-to-date or there’s a payment program in place.

“It’s encouraging to see our banks taking this proactive approach and leading by example.

“This consistency from the banks will help small businesses navigate and adapt to periods of uncertainty such as this.”  

www.asbfeo.gov.au

 

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Trade chaos: Dejavu on the Australian waterfront with port strikes

WHILE it is no secret that the shipping industry is exhausted by the unpredictable disruptions that COVID-19 has inflicted, Australian freight companies are now dealing with a new round of hurdles this week.

The Maritime Union of Australia (MUA) has begun a series of work stoppages with Port of Melbourne on strike, and an upcoming strike planned at Sydney International Container Terminals on July 9 set to cause lengthy delays. 

Jackson Meyer, CEO of Verus Global, an international freight forwarding company has been directly affected. 

“The Port of Melbourne strike has resulted in significant shipping delays. Containers are taking double the amount of time to process once they hit our shores, and the impact of the local pressure will affect global markets. The situation is at a critical point with the Christmas end of year peak season only a couple of months away,” Mr Meyer said. 

To add to the frustration, an increasing number of shipping lines are now directing their containers be de-hired directly to nominated stevedore terminals. This inefficient process has been driven by the lack of capacity at empty container depots in Melbourne, creating a considerable degree of stress on fleet operations to maintain delivery integrity, and additional fees charged. 

“The Port of Melbourne strike has pushed container importers pricing up from an already astronomical price, brought on by the global pandemic, to an industry that is very much hurting. The demand is impossible to keep up with, the delays are imminent and will be ongoing, especially with the announcement of a Sydney strike this week,” Mr Meyer said.  

He said the industry has been warned to expect further unforecasted and increased fees. Given the new restrictions and the strict policies placed on local providers, in addition to the historically high freight levels across all global markets, and increase on local charges updated almost daily, importers are unable to retain their original selling prices and will ultimately have to pass on these costs to the customer. 

Low cost industries such as packaging are being hit the hardest, with high volume, low margin goods absorbing the on-costs of the unprecedented climate, with no endgame in sight. Whitegoods and highly sought-after household items during the pandemic, such as furniture, continue to remain strong and in demand.

Large appliances now command a spot rate up to 41 percent of the cargo value, and small appliances command up to 27 percent of the retail value. 

“In the monopoly market of global shipping and with strong alliances, freight rates have become too lucrative to retain previously agreed contract rates on long term deals," 
Mr Meyer said.

"If contracts are not renewed, or have been partially slashed, the importer finds themselves paying up to six times as much as they initially forecasted. It’s clear that we are now at a point where an increasing range of cargo owners quite simply will not be able to sustain their business, at the currently high freight rates, and that’s a major issue for the industry."

About Jackson Meyer 

Award winning entrepreneur and Forbes 30 Under 30 Alumni, Jackson Meyer established Verus Global to bridge the gap between global giants and local small enterprises in Australian logistics, and continues to expand its networks globally. As group CEO and director, Mr Meyer manages teams across 15 global offices, located in Australia, China, Hong Kong and the United Kingdom. At just 25 years of age, Meyer has driven Verus Global to turnover of $130 million in 24 months.


About Verus Global
Established in 2019, Verus Global is an international freight forwarding company that uses cloud-based technology to increase the efficiency and transparency of shipping processes for clients across the globe. Co-founded by group CEO and director of Verus Global, Jackson Meyer, the company is based in Australia as well as operating international offices in China, Hong Kong and the UK. A meteoric rise to success, Verus Global has generated A$74 million in just two years and the company continues to excel in customer satisfaction and business success. www.verus-global.com

 

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Superannuation sector scrutiny as reforms take effect

WITH THE ‘Your Future, Your Super’ superannuation reforms having now come into effect the House Economics Committee will hear from key players in the sector at a public hearing via videoconference on Thursday, July 8, to discuss implementation of the reforms.

The hearing forms part of the committee’s ongoing Review of the Four Major Banks and other Financial Institutions. Appearing will be industry funds, including Australian Super, CBUS, Aware, Prime, Maritime, and TWU Super, as well as the retail funds Fiducian, and Equity Trustees (trustee of Zurich Master Superannuation Fund).

Committee Chair, Tim Wilson MP said, "Thursday’s hearing is an opportunity to scrutinise the superannuation sector’s response to the government’s 'Your Future, Your Super' reforms, which came into effect on July 1.

"It’s important that funds are taking their new obligations seriously, and that trustees are working in the best financial interests of members and being transparent about fund performance. In the highly competitive super field, where member assets have now exceeded $3 trillion, Australians should expect nothing less.

"The committee will also continue to scrutinise the impact of COVID-19 on super, as it has for the past eighteen months. In particular, how is the pandemic outlook affecting the funds’ future investment strategies and how they treat their members," Mr Wilson said.

A full program for the hearing is available on the committee’s website.

Public hearing details

Date: Thursday 8 July 2021
Time: 9.15am to 4.30pm
Location: videoconference

The hearing will be broadcast live at aph.gov.au/live.

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Juukan Gorge inquiry: Magazine Hill

THE Waanyi Native Title Aboriginal Corporation RNTBC will discuss their experience with New Century Resources at a public hearing tomorrow.

Committee Chair, Warren Entsch MP, noted that it was unfortunate the committee was unable to visit the Waanyi PBC in person due to COVID-19 restrictions.

Mr Entsch said, "The discussion via teleconference will be valuable to this inquiry. We will be interested to hear about the decision-making process that led to the agreement to the Cultural Heritage Management Plan for Magazine Hill."

The Waanyi Native Title Aboriginal Corporation RNTBC, in their submission, conveyed that the Waanyi People’s final decision to consent to the excavation of Magazine Hill was taken with considerable sadness, but it was an informed decision.

A program for the public hearing is available on the committee’s website.

Public hearing details

Date: Thursday, 8 July 2021
Time: 10am to 11am AEST
Location: by video/teleconference

The hearings will be broadcast live at aph.gov.au/live.

Further details of the inquiry, including terms of reference, can be found on the Committee’s website.

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Industry and expert panels to give evidence on security of critical infrastructure

THE Parliament’s Intelligence and Security Committee will hold two days of public hearings on Thursday and Friday, July 8 and 9, as part of its Review of the Security Legislation Amendment (Critical Infrastructure) Bill 2020 and Statutory Review of the Security of Critical Infrastructure Act 2018.

The committee will hear from a selected range of industry, union and expert representatives that have engaged with the committee for its review. Opening statements have been received from some witnesses and can be accessed as supplementary submissions.

Committee Chair, Senator James Paterson said, "It is vital that we hear from the companies and industries affected by the proposed framework under the Bill, to ensure that the serious cyber security risks we face can be met effectively with the lowest possible regulatory burden and cost to consumers."

Further information on the inquiry can be obtained from the Committee’s website.

Public hearings details

Thursday 8 and Friday 9 July 2021
9:30am–5pm (AEST)
Committee Room 2R1, Parliament House, Canberra and via videoconference

Programs for the hearings are available on the committee’s website and the hearing will be broadcast live at aph.gov.au/live.

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Viagogo investigated by NSW Fair Trading

NSW Fair Trading is investigating ticket reseller Viagogo as consumer complaints against the company spike in line with the reintroduction of ticketed events. 

There have been 36 complaints received about Viagogo in 2021 so far, 16 relating to ticket scalping, 11 relating to the cancellation of events that were not refunded, 5 relating to misleading customers that they are the authorised seller, 3 for tickets not being delivered in a timely manner and 1 for not providing age restriction advice. 

NSW Fair Trading Commissioner Rose Webb said with the arts and entertainment already struggling, ticket scalpers and especially Viagogo "should not get away with ripping off consumers".

“It was big news in 2018 when NSW Fair Trading made ticket scalping illegal by making it an offence for ticket resellers such as Viagogo to charge more than 10 percent extra on the original ticket price and transactions costs,” Ms Webb said. 

“We did briefly see a drop off in complaints but then we saw a spike at the end of 2019. When the pandemic hit complaints obviously dropped off again as events were not able to go ahead.

“However now that events are back on the agenda, we have seen a spike again and despite Viagogo being explicitly warned and receiving a $7 million fine from the ACCC in 2020, they continue to flout the rules.

“Those within the entertainment and arts industry have been vocal about the obliteration of their industry due to COVID and they do not need the additional stress of ticket resellers scalping well-meaning fans. 

“We will be investigating and using our powers to stop any unlawful behaviour.”

In 2021 the most common complaints related to tickets for the musical Hamilton exceeding the 110 percent cap.

Ms Webb urged anyone who had witnessed or experienced ticket scalping to report the incident at the Fair Trading website: Make a complaint | NSW Fair Trading 

For more information about consumer rights and ticket reselling go to Tickets, parties and events | NSW Fair Trading.

 

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Indigenous participation inquiry hears from Northern Australia

THE Indigenous Affairs Committee will hear from stakeholders in Far North Queensland and the Northern Territory this week as part of its inquiry into pathways and participation opportunities for Indigenous Australians in employment and business.

Due to recent lockdowns, these hearings will be conducted by conference call.

Committee Chair Julian Leeser MP said Land Councils, Aboriginal Corporations, Indigenous enterprises and business associations, as well as employment service providers and training organisations would be among the many stakeholders appearing before the committee over three days of hearings.

"These hearings will contribute significantly to the existing body of evidence for this inquiry. The Committee looks forward to discussing gaps and opportunities in the workforce and future growth sectors that could result in employment and enterprise options for Indigenous Australians," Mr Leeser said.

"We will be particularly interested to hear from CDP and Jobactive providers about their experiences helping Indigenous people find work. It will also be very useful to learn about continuing challenges to Indigenous participation and how Government can better facilitate these opportunities."

Public hearing details

Date: Wednesday, 7 July 2021
Time: 9.30am to 4pm AEST 

Date: Thursday, 8 July 2021
Time: 9.30am to 4.40pm AEST

Date: Friday, 9 July 2021
Time: 9.20am to 4.50pm AEST

A live audio stream of the hearing will be accessible at https://www.aph.gov.au/Watch_Read_Listen.

Full programs will be available at the inquiry website.

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Health Metrics expands technology offering with Uniti Software acquisition

AUSTRALIAN health and social care software organisation, Health Metrics, has acquired Uniti Software from Integrated Living.

This is a strategic acquisition for Health Metrics as it provides further pathways into the health and social care sector by adding another 73 customers to its portfolio.

Health Metrics is a well-established supplier of leading solutions for the residential aged care, retirement village, home care, disability care and primary health care sectors ('health and social care') in Australia and New Zealand. Uniti Software’s capabilities in primary healthcare and home and community health complements the existing Health Metrics suite.

“This is an important piece of the strategy puzzle that enables Health Metrics to provide a care continuum to consumers,” Health Metrics CEO Steven Strange said. “We’re very excited to have the folk from Uniti as part of the Health Metrics family.”

Uniti Software was born from the Ballarat District Nursing Society Inc, ater Ballarat and District Nursing and Healthcare, which identified the need to better manage the patient journey, information and improve their reporting. They decided to create a new system, “…by healthcare workers for healthcare workers…”.

Uniti offers one client record that can handle multiple funding sources, powerful scheduling tools, detailed reporting, as well as both online and offline mobile capabilities for critical information input and tracking at the point of care.

“The real winners from this transaction are the Uniti customers. They will now be part of a larger technology group with a broad-based offering," Mr Strange said.

"Uniti’s 'one client record' aligns well with Health Metrics’ eCase. The design principals have commonality. That is, a single client record architecture (SCRA) that allows clients’ records to move with them across the care continuum. It enables providers to make better, data-driven decisions which ultimately lead to significantly better care outcomes for our most vulnerable citizens.

"The additional 73 customers to the Health Metrics portfolio means that Health Metrics now provides solutions for more than 245 customers across Australia and New Zealand in what is quickly becoming the technology provider of choice for health and social care organisations," he said

www.uniti.com.au

www.healthmetrics.com.au

 

 

About Health Metrics:

Established in 2008, Health Metrics is a leading provider of software solutions to the aged care sector. Health Metrics’ enterprise software solution, eCase, supports the functions of Residential Aged Care, Retirement Villages, Home Care, Disability Care and Primary Health Care for customers of any size.

Health Metrics is majority-owned by Tanarra Capital, an Australian alternative asset manager with over $1.7 bn in funds under management.  Founders, Steven Strange and Lisa Papettas, who own a significant minority stake, have extensive knowledge of IT, aged care metrics and clinical care. eCase is fast becoming the number one choice of leading providers of care in the Australian and New Zealand markets.

Health Metrics Company Website:

Public Accounts committee inquires into Defence Major Projects and Commonwealth Financial Statements

THE Joint Committee of Public Accounts and Audit (JCPAA) has commenced two inquiries into important areas of public sector accountability as part of its examination of Auditor-General’s reports.

The Auditor-General's reports on Defence Major Projects and on Commonwealth Financial Statements are critical accountability mechanisms for the expenditure of public funds.

Committee Chair Lucy Wicks MP said the Major Projects Report inquiry was an important opportunity for Parliament to review the cost, progress and technical attributes of major Defence acquisitions, and the review of financial statements gives the committee the chance to examine Federal Government agencies' expenditure.

"The JCPAA scrutinises the governance, performance and accountability of Commonwealth agencies, to examine whether public money is used in an efficient, effective, economical and ethical manner," Ms Wicks said. "The committee has an important role holding Commonwealth agencies to account."

The Committee invites submissions to the inquiries which address the terms of reference. Public hearings will be held in the second half of 2021.

For more information about this Committee, visit its website.

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Cbus Super delivers biggest return in fund’s history: 19.34%

CBUS SUPER has announced a 19.34 percent return for its Growth (Cbus MySuper) option, the largest annual return in the fund’s 37-year history.

Cbus Super chief investment officer Kristian Fok said the outstanding result was a demonstration of the fund’s strategic approach to markets during Covid-19 volatility.

“I’m proud of the way that our investment teams have negotiated market volatility over the last 18 months,” Mr Fok said.

“Cbus was one of a small group of funds to achieve a positive result (0.75%) during the previous 2019/20 financial year. To then have the confidence to get back in the market is testament to the people and structures that we have put in place over the last five years.

“We managed our cashflow exceedingly well during the initial Covid-19 volatility which meant that we could invest for our members on the upswing.” 

Cbus Super now manages 35 percent of assets in-house. Mr Fok said building up this internal capacity has provided the fund greater insights into markets and allowed for a significant reduction in investment fees.

“We have reduced investment fees by $400 million since 2017 which has helped add to our returns,” he said.

“We have seen the cost of managing a dollar of savings fall by 8 percent compared to last year which is a really strong outcome. Results like this are strong indicator of the significant benefits of being involved in a fund of this scale.”

Mr Fok said the fund’s focus on increasing scale and reducing fees should serve members well as market conditions become more difficult.

“Obviously we would love to see strong double-digit returns like this every year but indications are that conditions will become tougher,” Mr Fok said.

“That’s why increasing scale and reducing investment costs is so important. Superannuation is a long-term game and the gains members see from fee savings will compound over time.”

Cbus Super CEO Justin Arter said the fund’s expertise in property and the built environment benefitted both members and the wider economy as the country struggled with Covid-19 lockdowns.

“There were stages last year where quality developments were struggling to get the finance they needed,” Mr Arter said.

“As banks were tightening lending, Kristian and his team were able to support successful developments to keep going at pivotal time for the construction industry. Cbus Property has also been able to commit to new projects during the height of the pandemic.

“Our lending enabled the delivery of 862 new residential units, which is a really important contribution given some of the supply constraints we are now seeing.

“On top of that, Cbus Property released 471 apartments to market during the last financial year, continuing their significant pipeline of work.

“We are proud of the record result we have achieved for members and of the way we have supported construction jobs and property supply at such an important time for the country.”

www.cbussuper.com.au

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