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ICON DRILLS TOWARD MARKET CAP OF $300M
ASX-listed Icon Energy will undertake a capital raising venture for a program worth around $20 million via a share purchase plan (SPP) to significantly increase its coal seam gas (CSG) reserves. The Gold Coast-based CSG explorer will look to increase its market cap to $300 million in 18 months – an increase of around $180 million.
Trading of Icon stock has been halted until Monday when...
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Innovation key to propel boat show sales
by Jason Oxenbridge
THE new general manager of the Sanctuary Cove International Boat Show (SCIBS) is confident that the marine sector’s voluminous innovation sector can offset a 15 per cent decrease in exhibitor numbers this year.
Mark Jensen concedes challenges ahead as the marine industry is swept up in the deluge of the global economic tsunami. Showcase product numbers at...
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Middle East to get a Coast health kick
A YATALA-based nutraceutical company has cracked the Middle Eastern market to supply its range of probiotics and health products to the lucrative Arab pharmaceutical industry.
The export deal follows a trade mission to the UAE facilitated by the Gold Coast City Council’s economic development arm BusinessGC.
Rochway develops, manufactures and distributes a vast range of...
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Plan now for the future
by Cezanne Laidlaw
THE turn of the economy and the mention of a recession is enough to send a shiver down the spine of Australians looking to secure their financial future. But it doesn’t need to be this way.
The crash of 2008 bought an end to the bull market bliss and people turned to extreme measures pulling hefty sums from their investments in a sudden split of panic. But...
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More go at Riviera as receivers affirm that it’s ‘business as usual’
WHILE receivers trawl through the assets of the debt-laden Riviera Group, the receiver Chris Campbell has today assured the remaining 550 employees that its business as usual – for now.
Campbell, from Deloitte, says he is looking to continue to trade the business while the receivers and managers investigate the financial affairs to develop a restructuring plan over the...
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Opinion - Propelling prosperity in the marine industry
The marine industry injects $7.8 billion a year into the Australian economy and employs around 28,000 people. Queensland’s 80 plus boat builders create 80 per cent of all boats built in Australia, while the Gold Coast’s 30 manufacturers create 65 per cent of all Australian craft. Manager of Marine Queensland Gold Coast division Charles Dickson, says more must be done at...
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Gold Coast SME ignored by Budget says Ciobo
THE GOLD Coast’s gallant SME sector is set to benefit following the Federal Budget's $500 million allocation to small business incentives and support.
The $141 million Small Business and General Business Tax Break will be extended from June 30 until December 31 and the bonus tax deduction has increased from 30 to 50 per cent of the cost of eligible assets.
It should come as...
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Editor's message
MARINE sector mettle will be truly tested later this month as the world anchors its latest innovations on the 21st Sanctuary Cove International Boat Show (SCIBS).
Incoming general manager Mark Jensen is confident that the marine sector’s voluminous innovation pool can offset a 15 per cent decrease in exhibitor numbers this year. Showcase product numbers have dropped from 450...
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City Pacific slashes more than a third off value
CITY Pacific has carved more than 39 per cent off the value off its First Mortgage Fund.
With the $339 million write down its $1 units are now worth 61 cents.
The bid to remove City Pacific Ltd as the trustee of the City Pacific First Mortgage Fund CPFMF has intensified with the launch of Investaguard Ltd, to be wholly owned by unit holders of the fund.
The First Mortgage Fund has...
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Population growth to impact property sector
FORECAST population growth of 66 per cent by 2035 will put pressure on Gold Coast jobs, infrastructure funding and affordable central housing, according to one property analyst.
Colleen Coyne has researched 10 economic sub-regions of the city and highlighted the suburbs best positioned to cope with the influx of new residents, tipped at around 350,000 by 2031.
Coyne says maintaining job...
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Chrysler drives on with Fiat at wheel
A MERGER with Fiat and a $9 billion bail out by the US Treasury has saved car manufacturer Chrysler from liquidation.
It’s good news for Gold Coast dealership Frizelles, whose sales have been driven by a dream run with its marquee 300C, Voyager and Crossfire models.
While staff at Frizelles declined to comment, the CEO of Fiat Group Sergio Marchionne, has hailed the move as the...
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New Appointments
CAMERON ARNOLD
DOMAIN Resorts & Residences has appointed Cameron Arnold as chief executive officer after two years as the operations manager with the company. Arnold has a background of more than 17 years in the leisure and corporate tourism industry and is the chairman of Tweed Tourism and board member of Northern Rivers Tourism.
KATIE BOWDITCH
KATIE Bowditch was recently appointed...
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Stella sells core assets to reduce debt
THE Stella Hospitality Group continues to hose down concerns that it is facing financial difficulties following the release of some of its core Gold Coast and Port Douglas assets.
The Bob East helmed company has already sold one of its largest overseas holdings, Protea Hotels, which was first acquired by then MFS-controlled Stella Group for $225 million. The recent sale price is...
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Hot Tomato challenges but Sea still on top
RADIO station Hot Tomato has increased its market share to become a serious contender in the ratings war.
Following the release of the Neilsen Radio Ratings, the station remains in third spot behind Sea FM and Gold FM – both of the latter dropping from 3.3 per cent to 2.7 per cent.
Hot Tomato moved into second place in the hotly contested drive market with a 15.9 share, behind...
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Rudd reforms threaten Gold Coast restaurateurs
by Jason Oxenbridge
THE Gold Coast’s once thriving hospitality industry is under threat with mass staff sackings and the shutting down of restaurants imminent as a result of Rudd Government industrial reforms.
After the Fair Work Bill is implemented by January 10, 2010, it is expected 1000 businesses will be shut down and 8000 jobs slashed Australia-wide.
Chief executive of...
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Fellinis to trim the fat
CELEBRATED restaurateur Tony Percuoco is concerned.
By 2010, the multi award-winning chef will have to swing the axe to chop 15 per cent off operating costs at his landmark Fellinis restaurant. That means a portion of his 25 staff will also be sacked.
Percuoco says the Rudd Government industrial reforms will have a dire effect on restaurants across the board – from small...
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International banking laws exposed
A UNIVERSITY lecturer has undertaken research that flouts international banking and tax laws.
Griffith University researcher Professor Jason Sharman, used Google and $10,000 to prove international banking and tax laws in the US and UK are a ‘joke’.
In an online experiment, Sharman set up shell corporations and bank accounts without identification —...
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PPP leadership launched
BOND University has partnered with the Commonwealth Secretariat to deliver a public-private partnerships (PPP) leadership program to senior government officials from developing Pacific nations.
Associate professor Michael Regan of infrastructure at Bond says a large number of governments in developing parts of the world are examining alternative service delivery and asset creation...
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Swimming between the flags
SELF managed super funds (SMSF) are now the largest sector in the $1 trillion plus superannuation market.
According to Carolyn Baker, principle of CJ Baker & Associates, the latest figures show SMSF are now the largest in the market, accounting for 30.4 per cent and totalling $326 billion.
“Especially in these times, the ATO has instigated a number of measures to ensure...
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Tanancy crisis for retailers
THE Australian Retailers Association (ARA) has identified a tenancy crisis and is urging the Federal Government to take action on the Productivity Commission’s (PC) Market for Retail Tenancy Leases final report in August 2008.
ARA executive director Richard Evans aims to alleviate spiralling occupancy costs caused by the global financial crisis.
“There has been no action...
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ICT market taps into growth
SOUTHERN Cross University and Business GC have launched a project to identify the capabilities of the Gold Coast’s information and communications technology (ICT) industry and identify growth areas.
Associate professor Stephen Kelly, head of the school of commerce and management says the recent announcement by the Federal Government that high-speed broadband would be rolled out...
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Don't surprise your banker
Entrepreneur, consultant, educator and author Dr Tom McKaskill has established a reputation as one of the world’s leading authorities on exit strategies for high-growth enterprises.
BANKERS hate surprises.
The last thing they want is for you to come to them at the last minute with a request for a loan or an overdraft to save your business. We forget that banks...
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Tourism industry to hitch a ride on backpacker market
TOURISM operators are banking on the Gold Coast’s $126 million-a-year backpacker market to offset dwindling visitor numbers to the region.
The Gold Coast is vying to become Australia’s No.1 backpacker and adventure travel destination as it focuses on the constantly growing sector. In the past 12 months the region has welcomed 132,749 backpackers.
Research shows that it is...
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Tourism Minister assures business leaders
TOURISM Minister Peter Lawlor, has assured business leaders that the Gold Coast is on target to deal with the economic impact of the downturn.
“Tourism has always been a part of the Gold Coast economy and as we diversified it won’t lose its importance,” says Lawlor.
“Over three million domestic visitors and close to 800,000 international visitors holidayed on...
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Kiwis flock to Coast with daily flights from Auckland
GOLD Coast Airport is experiencing a Kiwi influx with direct daily services from Auckland.
Gold Coast Airport chief operating officer Paul Donovan, says the daily service will significantly boost the local tourism industry’s confidence in international tourism to the region.
“The commencement of this service will not only mean a healthy increase in inbound tourist numbers...
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Customer retention online
THE paradox of our current economic climate is that customers are demanding more value, at the same time that businesses are looking for more cost-effective ways to deliver service. Consumers are being much more careful with how they spend their money so they want to make sure they are getting the most for the least.
This can present a big challenge for your business - how do you meet their...
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Minimising E waste
MINIMISING landfill while creating a solution to Australia’s burgeoning e-waste epidemic has created vast business opportunities for a Burleigh Heads-based IT recycler.
Chief executive of Just Recycle IT Gary Steele, has tapped into a fast moving and evolving market.
As long as there is advancing computer technology, there’s a demand to recycle and remarket hardware to...
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Embracing change the key to resilience
A positive approach to organisational culture can be the difference between a flourishing and a floundering business. The ability to be a chameleon and adapt to varying surroundings is the key to successful organisational resilience. Ken Parry, the director at the Bond University Centre of Leadership, gives insight on the importance of resilient workplace culture and those that embrace...
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Anchor drags on $2.5 billion superyacht and marine facility
PRESIDENT of the International Superyacht Society Lance Cushion, says action is required now if the Gold Coast is to become the ‘Monaco of the South Pacific’.
Superyacht tourism is a $160 million a year industry in Australia. Last year, 73 international vessels chartered Australian waters. The economic impact of a terminal on the Coast just by having a single superyacht in...
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PCS leads digital innovation
A QUEENSLAND company has joined forces with a global LCD screen manufacturer to enable control and monitoring of boating electrics via its GPS, chart plotter and radar screen.
The deal follows recent meetings at the Miami International Boat show which cemented the way ahead for the Queensland-based Paulger Control Systems (PCS) and key partners to develop and release the...
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Exporters to be recognised
THIS year’s boat show will live up to its international moniker as exhibitors and marine industry doyens pour in from countries including Taiwan, Dubai, Thailand, Korea, UK, New Zealand, France, China and Singapore.
The Australian marine industry turns over around $5.5 billion and exports more than $750 million worth of products each year. It consists of 2700 companies employing...
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Maritimo to sign finance deal with French bank
BOAT builder Maritimo is working with an international bank to supply credit lines to its dealer network in Australia after the withdrawal of lenders GE Money and GMAC from the marine sector.
Maritimo boss Bill Barry Cotter is negotiating with the French Société Générale Group, a leading financial institution in more than 45 countries across Europe, the...
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Sunseeker's biggest show yet
SUNSEEKER Australia will showcase more than $35 million of new product at the Sanctuary Cove International Boat Show.
A grand display of decadence, style and luxury will be unveiled as the company takes the wraps off for its Australian launch of the 34m yacht.
Of breathtaking scale with classic flowing lines, the vessel features three decks providing opulent entertainment areas with...
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Pumping life back into fishing and boating
MORE than 80,000 cubic metres of sand will be dredged from navigation channels in the Broadwater following Gold Coast City Council’s $5 million ‘reclamation project’.
Dredging is expected to take three months to pump the sand from the southern channel, near the Seaway entrance, and south Wave Break Island channel.
The sand will be deposited at the site of the...
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Premier awards honour top exporters
THE State Government is accepting nominations for the Premier of Queensland’s Exporter of the Year Award, offering an opportunity for local companies to gain recognition for their achievements abroad.
Applications close July 24 for the gala presentation in October, with 12 different types of awards on offer from which the Queensland Exporter of the Year will be chosen.
Premier...
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Resources showcase to unearth investment options
QUEENSLAND companies Mt Isa Metals, Bow Energy, Metallica Minerals and Chesser Resources will join a pile of Australian resource companies for the third annual Gold Coast Resources Showcase.
The showcase is one of Australia’s leading investor-focused conferences, specifically designed for small - mid cap ASX companies pitching opportunity to high net worth and sophisticated...
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A rise in bankruptcy forecast
A BOND University economics professor has warned the Australian business and finance sector that an increase in bankruptcy is likely in final quarter of this financial year.
Professor Kuldeep Kumar predicts total bankruptcies in Australia to increase by 7900 in the second quarter of 2009. The breakdown of which will most likely include 6700 personal bankruptcies and more than 1150...
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Commissions to impact retail funds says ratings agency
MODELLING by an independent ratings agency has shown that members of industry super funds could be more than $80,000 better off in retirement than workers in retail funds, due to the impact of sales commissions and fees over a 40-year period.
But according to Andrew McLauchlan, managing director of McLauchlan & Partners, the issue has become a ‘storm in a tea up’ with...
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Super assets fall by $25b
ANNUAL superannuation figures released by regulative body the Australian Prudential Regulation Authoority (APRA) show that total super assets have fallen by $25.1 billion, or 2.1 per cent, to $1.17 trillion.
Small funds, which have fewer than five members, were the only funds to experience an increase in assets over the year to June 30, 2008, with 6.7 per cent growth to $361.3...
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Changes to benefit retail investor says Sherry
THE Minister for Superannuation and Corporate Law, Senator Nick Sherry, says changes that will require superannuation funds to report long-term returns in member statements will help retail investors better understand their super.
“It is important that super fund members appreciate that super is a long-term investment,” says Sherry.
“The past year has been a...
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Only fools rush in without plans
PICKING a financial planner out of a pool of competitive companies need not be a nightmare
Quill Group believes choosing the right advice should be easy. The company uses short, medium and long term classification for investments so that in volatile times, investors have adequate reserves of low risk investments to draw for their living expenses. But investors are warned not to rush...
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The Hall of finance
ROY Hall may have come from humble beginnings but his trophy cabinet now twinkles with the fruits of labour. From catching a Brisbane-bound train every morning to trekking to TAFE on his motorbike at night, the young gun started as a junior at Westpac filling up voucher holders and ATM machines. The arduous days at the banks allowed Hall to work his way through the ranks all while...
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Engineering construction to fall despite funding boost
FEDERAL Government efforts to counter the global financial crisis and associated economic downturn via an infrastructure-led economic stimulus will not be enough to prevent a significant decline in engineering construction.
According to industry analyst and economic forecaster BIS Shrapnel, a decline in engineering construction activity of 20 per cent is imminent. This...
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Smart growth stalled by complacent planning
COMPLACENT planners, bottom-line driven developers, unimaginative marketing professionals and a lack of public foresight over the past half century have contributed to the demise of traditional neighbourhoods and smart sustainable growth on the Gold Coast.
Managing principal of the US-based DPZ Pacific Demetri Baches, believes true community has been relegated to ‘anywhere urban...
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No loose screws here
A PROGRESSIVE Currumbin-based company is forecasting 250 per cent growth this year — just by screwing around.
Krinner Groundscrews Queensland is releasing an innovate product that essentially eliminates the use of concrete. The screw-in support system markets itself as a saving on cost as well as an immediate saving on time with a range of ground screws used to support items...
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Escape to serenity
by Cezanne Laidlaw
BY the fourth course of the degustation dinner I am starting to doubt lunch was a good idea. But the flavours of the garlic infused fillet steak drifts up through my nostrils and proves too much to ignore and I indulge further. Two hours later as I spoon the last bite of the chocolate tart into my mouth, I know I am well and truly done and have possibly gone to...
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Events index
MAY
Thursday 7
Business Leaders drinks; 5.30-7pm Titanium Bar, Surfers Paradise, featuring guest speaker: Senator Grant Chapman, more info at: AnneMaree.Collins@businessleaders.com.au.
Friday 8
Business Women May lunch forum, “Lessons learnt by an Entrepreneur with guest speaker Robyn Horley”, more info at: www.bwinc.com.au
Saturday 9
Currumbin RSL presents the...
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Corporate cruising
IMAGINE Cruises has launched an innovative twist to the corporate function. Its 30m, fully air conditioned catamaran, offers a unique venue for business people.
The boat features onboard catering facilities, two spacious decks fully equipped with refreshment bars and a wide selection of in-house entertainment options. Imagine Cruises can provide a full buffet menu for up to 100 guests...
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Marine industry newtworking lunch
IAIN Murray will be the guest speaker at the Southport Yacht Club marine industry luncheon.
Murray, whose business interests include significant operations in the marine industry in NSW and Queensland is also an America’s Cup, Olympic and World Championship winning yachtsman. He will be giving his overview of the industry and telling of some of his more memorable sailing...
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Industry eco-efficiency
AUSINDUSTRY and QMI Solutions will host a seminar this month for businesses interested in the economic and environmental benefits of operational eco-efficiencies.
Eco-efficiency goes beyond simply preventing pollution and limiting the use of resources in manufacturing and production: it provides for the competitive needs of business by enabling increases in the value of goods and...
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Hurley rocks on
THE Beenleigh Yatala Chamber of Commerce is hosting a breakfast featuring guest speaker Peter Hurley, general manager Qld Adbri Masonry. As one of the cornerstones of the business community, Stapylton based Adbri Masonry has manufactured facilities in all Australian states.
The company generates a massive $75 million per year in sales, this wholly owned subsidiary of Adelaide Brighton...
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Busy month for UDIA
Etiquette guru’ Anna Musson will run her eye over the Gold Coast’s women next month for the Urban Development Institute of Australia (UDIA).
The no-nonsense radio and TV personality will pull no punches in dishing out professional manners and tips on avoiding a workplace faux pas at a function titled ‘business etiquette for the working woman’.
The...
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That's what I want
ROBINA Town Centre is bringing an exclusive first to cinema going in Queensland with the unveiling of Australia’s first Event Cinemas.
Event Cinemas Robina opens on May 29 at Robina Town Centre in the new entertainment and dining precinct. Event Cinemas is Australia’s first fully digital cinema complex and will include VMAX, Gold Class and 3D.
VMAX auditoriums will...
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The Fair Work Bill
THE Federal Government’s new industrial relations legislation system has become law. The legislation will have significant impact on business and employers will need to keep abreast of the proposed changes. Chamber of Commerce and Industry Queensland is running regional seminars to help you understand the key legislative changes, what they will mean and how they may affect your...
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