AUSNET SVCS   

SP AusNet - Bushfires

my friend encouraged me to buy cos of the high dividend yield.

It was 0.92, one of the lowest price few months ago.

I hesitated & didn't buy.

Now see that it's shot up to $1.17-$1.2 -- REGRET :( 

iknownothing      ( Date: 24-Sep-2010 22:04) Posted: this counter is a good buy..haha saw it drop till 0.915 and back to now! hahaha shiok see2eye      ( Date: 06-Sep-2010 09:50) Posted: I meant I think the same as the other person that the price is unlikely to go to 86-87 now.   As for what price to go, I guess you have to do your own home works and judgement.     The following were what went through my mind a) Divident is closed to 5 cents (A$0.04) every 6 months, that is > 9% returns at the price S$1.04     b)  I remember its chairman mentioned a few months ago that under the new tax law in Oz , it allows the company to benefit around $10 million this fin year, which may mean higher divident than 5 cents  c)  it is being involved in 2009 Bushfires court case - it claimed it has insurance to cover the liability and it also counter claims the liability with other parties - to share the liability - I personally think this going to be a long proceeding and this is one of the thing u need to note I personally think the price would hit $1.2 again in the next 2-3 months,  and that was why I at the end bought some but at a higher price, if I could buy it when I pay attention to this stock 2-3 months ago.

 

It touched S$1.2 this morning and now $1.19....  Wonder if it will break 1.2 with strong A$ currency .... 

 

Approx. $28Million  (15-20% better) Share traded at $1.12..  Will it hits $1.2 by end of this month ?


 

SP AusNet: HY2011 Net Profit After Tax Update.

SP AusNet is now able to confirm an improvement in net profit after tax for HY2011, in the range of 15 - 25% over the previous corresponding period, driven mainly by a favourable tax position. The tax deductions were arrived at after completion of SP AusNet's tax returns on 30 September 2010...

 

this counter is a good buy..haha saw it drop till 0.915 and back to now! hahaha shiok

see2eye      ( Date: 06-Sep-2010 09:50) Posted: I meant I think the same as the other person that the price is unlikely to go to 86-87 now.   As for what price to go, I guess you have to do your own home works and judgement.     The following were what went through my mind a) Divident is closed to 5 cents (A$0.04) every 6 months, that is > 9% returns at the price S$1.04     b)  I remember its chairman mentioned a few months ago that under the new tax law in Oz , it allows the company to benefit around $10 million this fin year, which may mean higher divident than 5 cents  c)  it is being involved in 2009 Bushfires court case - it claimed it has insurance to cover the liability and it also counter claims the liability with other parties - to share the liability - I personally think this going to be a long proceeding and this is one of the thing u need to note I personally think the price would hit $1.2 again in the next 2-3 months,  and that was why I at the end bought some but at a higher price, if I could buy it when I pay attention to this stock 2-3 months ago.

 

 

Announcement is submitted by *	Susan Taylor
Designation *	Company Secretary
Date & Time of Broadcast	24-Sep-2010 13:52:36

Victorian Bushfires Litigation - Update

As previously stated, SP AusNet is the defendant in legal proceedings before the Supreme Court of Victoria concerning the 7 February 2009 Black Saturday bushfire known as the Kilmore East fire.

In accordance with a timetable ordered by the Victorian Supreme Court, SP AusNet today filed its Defence and Counterclaim in these proceedings.

The Defence denies that SP AusNet was negligent. SP AusNet alleges that its conduct was at all times reasonable, in compliance with technical regulations and reasonable in light of economic regulations applicable to SP AusNet.

SP AusNet also counterclaims against several parties: the Department of Sustainability and Environment, the State of Victoria (Victoria Police), the Country Fire Authority and a contracted inspector of electricity assets. The purpose of the counterclaim is to join other parties where they may be relevant to the Court’s consideration of the causes and consequences of the Kilmore East fire.

If SP AusNet’s defence of the claim is successful, the counterclaim will become irrelevant and will not be pursued. These matters are complex and are issues for the Court to determine.

 

I meant I think the same as the other person that the price is unlikely to go to 86-87 now.  

As for what price to go, I guess you have to do your own home works and judgement.     The following were what went through my mind

1. a) Divident is closed to 5 cents (A$0.04) every 6 months, that is > 9% returns at the price S$1.04    
   
2. b)  I remember its chairman mentioned a few months ago that under the new tax law in Oz , it allows the company to benefit around $10 million this fin year, which may mean higher divident than 5 cents
   
3.  c)  it is being involved in 2009 Bushfires court case - it claimed it has insurance to cover the liability and it also counter claims the liability with other parties - to share the liability - I personally think this going to be a long proceeding and this is one of the thing u need to note
   

I personally think the price would hit $1.2 again in the next 2-3 months,  and that was why I at the end bought some but at a higher price, if I could buy it when I pay attention to this stock 2-3 months ago.

 

what happened to allantanhc? what price to Q for this stock? thanks

 

I think the same as allantanhc.   I have bought some at 0.96 weeks ago and might get more if the price fall.

 

Dividend yield for this stock is >10% at current price.

Unlikely to go down to 86-87 Cents unless something drastic happens.

 

coming down to 86-87 cts

 

is this a stock to hold for dividends? what price is good to buying? thanks.

 

frankly... this one not.... 

 

expect the UNEXPECTED! :P

see2eye      ( Date: 07-Jul-2010 10:27) Posted: I think the price will not drop further than '86-87' cents if the finding give the high possibilities that SP AusNet will not directly involve in this court case....well that is my wild guess.  As it shall not hit the historical low in this case....  nickyng      ( Date: 06-Jul-2010 16:13) Posted: just wait at 80cts level lah......y bother commission findings out or not? :P

 

I think the price will not drop further than '86-87' cents if the finding give the high possibilities that SP AusNet will not directly involve in this court case....well that is my wild guess.  As it shall not hit the historical low in this case.... 

nickyng      ( Date: 06-Jul-2010 16:13) Posted: just wait at 80cts level lah......y bother commission findings out or not? :P see2eye      ( Date: 06-Jul-2010 16:07) Posted: Thx Hanson... Does anyone know when royal commission's finding is out ? Unless finding has clear shield SP AusNet from liabilities, it would be a long drag on this court case... and would send the share further south.

 

SP AusNet has extended its full support and assistance to the Bushfires Royal Commission and is currently awaiting its findings and recommendations, due to be published in its final report at the end of July.

see2eye      ( Date: 06-Jul-2010 16:07) Posted: Thx Hanson... Does anyone know when royal commission's finding is out ? Unless finding has clear shield SP AusNet from liabilities, it would be a long drag on this court case... and would send the share further south.

 

just wait at 80cts level lah......y bother commission findings out or not? :P

see2eye      ( Date: 06-Jul-2010 16:07) Posted: Thx Hanson... Does anyone know when royal commission's finding is out ? Unless finding has clear shield SP AusNet from liabilities, it would be a long drag on this court case... and would send the share further south.

 

Thx Hanson... Does anyone know when royal commission's finding is out ? Unless finding has clear shield SP AusNet from liabilities, it would be a long drag on this court case... and would send the share further south.

 

SP ausnet rebound a bit liao. Can buy liao.

 

 today good mood... share share a bit... hehe... 

Australia -- THE power company being sued by victims of the Black Saturday bushfires is expected to spread the blame to the CFA and the state government in an attempt to reduce its potentially massive legal liability.

Senior government sources told The Sunday Age there was a ''real chance'' that Singapore-owned power distributor SP AusNet would join government agencies as co-defendants to the hundreds-of-millions of dollars class action related to the Kinglake fire.

This could mean taxpayers' money could be paid out to victims, with SP AusNet arguing in the Supreme Court that CFA warnings and firefighting was inadequate, and that the government's backburning program, or planning policies, made the fire's devastation worse.

The maintenance company Utility Asset Management, whose worker allegedly failed to identify a fault in the crucial line during an inspection a year before the fire, is also likely to be in the firing line.

Plaintiff lawyer Bernard Murphy of Maurice Blackburn agreed that SP AusNet would ''seek to push off their liability for this very avoidable tragedy to others''.

Mr Murphy filed a detailed statement of claim in the Supreme Court class action on Friday, which alleged that SP AusNet had failed to adequately maintain the line, and that the installation of a $10 vibration dampener might have saved 119 lives.

SP AusNet managing director Nino Ficca has made no comment about the possibility of joining other parties to the legal action. The company was waiting until the outcome of the royal commission before announc- ing any legal moves, he said.

But in an exclusive interview with The Sunday Age, Mr Ficca insisted he was proud of the way his company maintained its networks, and said Victoria did not need, nor could it pay for, ''gold-plated'' electricity infrastructure.

Asked if he had any regrets about the state of the power line and its maintenance in the lead-up to Black Saturday, Mr Ficca said: ''I'm comfortable. Our networks, how we run them, is not anything other than what is best practice around the place.''

Asked if he would apologise to the victims, he declined, saying: ''As far as I'm concerned, and this business [SP AusNet] is concerned, those matters are before the royal commission … we're waiting for what those findings will be … to see what happens out of that.''

Power lines allegedly caused five of the 12 major fires on February 7, 2009, with SP AusNet responsible for two of the lines and Powercor the other three.

Police and electricity experts gave evidence in the royal commission, and counsel assisting agreed, that the Kilmore East fire began at the foot of an SP AusNet power pole because a thin and weakened wire - one of the longest single spans in the state - snapped and fell to the ground in high wind at about 11.45am on Black Saturday.

Lawyers for the commission said the failure was caused partly by a wrongly fitted part, and partly by the lack of a dampener to reduce wind vibration.

But Mr Ficca would not concede anything.

''To be explicit about cause is not something that we can talk about today … the body that has the best information about that is the royal commission at the moment.''

 

Yes, it could be that way.

nickyng      ( Date: 29-Jun-2010 15:27) Posted: this burger will TEST 80cts level.....lowest in history i guess :P