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Full list: Top 100 manufacturers 2017 AUSTRALIA

December 4th, 2017

Despite the restructuring in the automotive space, manufacturing continues its competitive streak with a few bright spots indicating a gradual uptick, according to IBISWorld’s Top 100 Manufacturers List for 2017. Syed Shah reports.

Recently, the Advanced Manufacturing Growth Centre (AMGC) stated in its report: Advanced Manufacturing – A Definition for a New Era, that the Australian manufacturing industry is larger and more dynamic than currently estimated. According to the Ai Group, for the last quarter of 2017, the performance of manufacturing index (PMI) of Australia looks to be on the uptick.

So, while manufacturing looks to be shrinking in its GDP contributions year on year, there is certainly brighter times ahead. Historically, the manufacturing industry has always been an extremely competitive industry, and despite a difficult 2016 and challenges to the local economic climate for the industry in 2017, the outlook is a positive one – at least in the longer term.

Australia’s traditional manufacturing industry will continue to thrive with more companies embracing newer advanced manufacturing technologies and the power of the IIoT. This is despite the continued lack of outstanding winners in the list.

Read: Winners and losers – Top 100 manufacturers 2017

Bao Vuong, senior industry analyst with IBISWorld, one of Australia’s richest sources of business information, says most manufacturing sectors are in the process of restructuring their business processes with more automation and adoption of advanced techniques to boost general productivity.

Vuong sees the decline as marginal, and says like last year, there is a lot of volatility in the market with several factors as reasons these include the value of the Australian dollar and government policies, both at federal and state level.

“Compared to the previous year, there is a mix in the number of companies in the Top 100 list who have dropped and increased their revenue. This is due to economic volatility locally and globally, but the trend is moving downwards,” Vuong told Manufacturers’ Monthly.

Food manufacturing seems to have bucked the trend from last year with the meat industry benefitting from the increased demand in high quality or premium meat that is popular in the East Asian market. This is because consumers in the East Asian region are swayed by the notion of what they perceive to be high-quality Australian products. As a result, some companies are expanding into the Asian export market even further.

“Australian beef is just seen as more high quality as compared to the beef that they (East Asian market) can obtain in other countries,” said Vuong.

For the rest of the F&B products, a lot of the companies are focusing on the general Asian market, which also points to consumers’ perception of the high quality associated with Australian products like milk powder. According to Vuong, people from China tend to prefer Australian milk powder because they don’t trust the quality of their locally manufactured milk products.

IBISWorld sees local manufacturers competing with low-cost imports and this includes the automotive manufacturing sector. And because of these low-cost imports, they see it as more strategic to move their production overseas into certain Asian countries where the overhead costs are a lot lower compared to manufacturing in Australia.

Read: Notable new additions – Top 100 manufacturers 2017

Even though companies are looking at Asian export markets, the weak Australian dollar has contributed to higher demand for locally manufactured goods in export markets as the weak dollar boosts the attractiveness of the exported goods.

“In tandem with the increased use of robotics and 3D printing that will help the manufacturing sector turn around gradually, new technologies will also limit that decline,” said Vuong.

With the increased use of automation these days, companies are trying to reduce their reliance on labour and improve their profitability especially when they are in competition with low-cost imports. IBISWorld expects manufacturing to turn around within the next five years but for the moment, the expectation for the sector is to only climb moderately.

The Australian government has provided support measures such as the advanced manufacturing fund for local manufacturers here especially for the small-scale manufacturers that would struggle in this competitive environment.

“This will hopefully help limit the decline in this sector and ensure that small scale manufacturers have a bright future in a highly competitive environment,” said Vuong.

Sourced from IBISWorld: IBISWorld.com.au

In other areas, the transition of the mining sector from investment to production has led the mining and construction sectors to have some losers in terms of negative revenue swings in their latest financial reports.

“Siemens, who provide technology equipment and solutions for the sector has seen their revenue decline because of the transition of the mining sector from investment to production over the past two financial years. This trend has followed across most other technology providers for the mining sector and this transition has affected their revenue,” said Vuong.

“For the construction industry, they seemed to have scaled back in terms of infrastructure and residential building projects. An example would be Raytheon, where their decrease in revenue was also due to the decrease in construction contract,” said Vuong.

Defence companies are doing particularly well in 2017 because of the rise in defence contracts.
Because of this, Australia’s procurement for international shipbuilding has also seen the sector grow to $400 million recently. “Anyone that manufactures advanced components for defence contracts have increased their revenue,” Vuong said.

Bucking the trend

In the face of increasing competition from low-cost imports, IBISWorld expects companies to face downward pressure in terms of profitability with imports intensifying in the manufacturing sector.

Prices are expected to be a major point of competition for those that can offer the lower prices, especially those from Asia where it will force local manufacturers to slash prices and profitability to keep up with these low-cost Asian manufacturers.

“Conversely, if some of these manufacturers that produce niche goods, like meat processing manufacturers that produce high-quality Australian beef, they can have higher profitability levels. They can then charge a premium price for these goods due to the quality because these products are considered differentiated from the market itself. In general, the intensified market competition will force prices down and put a lot of pressure on these manufacturing operators,” said Vuong.

IBISWorld  IBISWorld.com.au

www.ozrural.com.au

Henry Sapiecha

CENTRO SHOPPING CENTRES DIRECTORS QUIZZED BY ASIC ON THEIR RESPONSIBILITIES

April 26th, 2011

Centro case tests duty of directors

Hervey Bay has a Centro shopping centre

Leonie Wood
April 26, 2011

Read more: http://www.watoday.com.au/business/centro-case-tests-duty-of-directors-20110425-1du3n.html#ixzz1KcImALbU

IT IS, perhaps, the most elementary aspect of financial analysis. Faced with a company balance sheet, the line item examined before all others is current liabilities: short-term debt, or what must be paid in the next year.

So it is a little difficult to understand how Centro directors in September 2007, applying their full faculties, overlooked this line when examining the property group’s final accounts.

The blunder became apparent later in 2007 when Centro faced a catastrophic loss of investor confidence after being forced to reveal it was struggling to refinance its loans. Eight Centro directors and officers are now defending allegations by the corporate regulator that they were negligent.

Advertisement: Story continues below

That the directors did overlook the item is not in dispute in the Federal Court. What is disputed is the extent to which directors are required to probe the company’s accounts or go behind what management and auditors tell them.

Justice John Middleton is being asked to consider if Centro directors were plainly negligent in their duties, as the Australian Securities and Investments Commission contends, or whether this case represents a reaching up by the corporate regulator for some ever-higher and impossibly perfect standard of care by directors, as the Centro directors claim.

Lawyers for Centro directors suggested that to raise issues already checked by management and auditors meant board members risked being ”laughed at effectively for making the blunder that a first-year accounting student wouldn’t”.

But ASIC argues the issue is not a difficult one. It’s fair to note that the spectre of Blind Freddy – he who would see the glaring error or obvious mistake, even if blind – has been raised many times.

What Centro directors missed was billions of dollars of debt. About $1.1 billion of loans, wrongly classified as long-term debt in the August preliminary accounts, surfaced as current liabilities in the September final accounts but directors apparently didn’t notice it.

It was several months before the errors of incorrect classifications were fully analysed at Centro, leading the group to discover another $2 billion of short-term debt and $US1.7 billion of guarantees, which had been approved after balance date and should have featured in a note to the accounts. What the non-executive directors and former chief executive Andrew Scott want the court to accept is that the board took reasonable steps to carry out its duties as best it could by putting in place processes designed to ensure that errors were not made.

They point out that Centro employed teams of accountants and finance staff, and it commissioned external auditors from PricewaterhouseCoopers to examine the accounts.

It had a fully functioning audit committee, headed by non-executive Sam Kavourakis, and it did page-turn examinationsof financial statements and accounts.

The internal accountants and the auditors wrongly classified the debt and

failed to alert the board.

So to ASIC’s claim that the directors were negligent, the directors say: ”What more could be done?”

Indeed, counsel for the non-executive directors, Alan Archibald, QC, launched into full hyperbolic flight on this, claiming ASIC was seeking to impose an ”intolerable burden” on directors because, as he fashioned it, ”every single line, almost every single word and every single number has to be scrutinised by each director separately”.

”Boardrooms of Australia will empty overnight if this is the tenor and the rigour of the obligation to be imposed on them,” Mr Archibald argued. ”Nobody would expose themselves to those responsibilities.”

As Justice Middleton replied: ”That is the balance the court has to reach, isn’t it?”

What more could be done? ASIC contends there is a simple answer to that. The directors should have brought their own experience, their own curiosity, the cumulative wealth of their individual experiences to bear on the accounts, and – importantly – they should be looking for obvious mistakes. The kind that ”Blind Freddy” would see.

In other words, putting in place ”processes” is not enough. The directors should not leave themselves to be bare automatons, duly nodding when management presents them with accounts and then blithely signing the accounts because management and auditors say the statements are in order. They must engage their minds to carry out their individual fiduciary responsibilities.

ASIC’s argument, however, is not that directors must have a detailed understanding of every accounting standard.

The regulator instead is saying that directors should have a general knowledge of certain fundamental aspects of accounting and they should be asking questions that focus on those issues.

And in this particular case, the Centro directors had been informed via board packs about the short-term debt and the necessity to refinance. Leslie Glick, SC, for Mr Scott suggested that when the judge was weighing up whether Blind Freddy would have tripped across the debt, the fact that Centro’s auditors, its internal accountants and the chief financial officer also overlooked it ”has to go into the mix”.

ASIC would say that doesn’t matter. The regulator contends the Centro directors ”had to bring the knowledge that they had acquired over the period of their directorships and the material that they had been given in the process of reviewing”.

When the case resumes on May 2, all the directors will be called to give evidence and each one can be sure there will be much scrutiny of what he did in September 2007.

Sourced & published by Henry Sapiecha

BUSINESSES ON THE INTERNET @ THE FRASER COAST QLD

October 8th, 2010

Embracing Business Online


The Embracing Business Online Program is an Australian Government initiative funded under the Small Business Online program representing outstanding value.

  • Develop a web strategy to support your business goals
  • Grow your web presence
  • Personal mentoring
  • Online workshops
  • Unfold the power of the internet for your business

Hervey Bay Workshops commence Friday, 12 November.

Cost only $33 – Spaces are limited.
Click Here to download Flyer and registration details.

Received & published by Henry Sapiecha

INVITES TO FORUM ON FUTURE TRANSPORT IN QUEENSLAND

August 24th, 2010

Come to QWESTNet and find out what new transport technologies and practices are available now and in the future to save you money, reduce your emissions and
put your business ahead of the game.

Hear about the future of freight and what that means to your business.

Discover what LNG, CNG, and BioFuels could do for your future transport fuel requirements.

Learn from case studies of other business experiences on how to save fuel through driver training and fleet car projects, and the creation of an Electric Vehicle Rental Car Project.

The Keynote speaker is Mark Gjerek, of RARE Consulting, a national consulting firm specialising in practical solutions to today’s contemporary transport and environmental challenges.

Who should attend?


Fleet operators
Logistics companies
Hire & rental companies
Freight and courier companies
Taxi owners/operators
Bus and coach companies,
and general business owners……
any business that uses transport, has commercial vehicles
or has staff that travel to their workplace

Register Now

Wednesday 15 September 2010

9:00am – 1:00pm (registration opens at 8:30am)

Brisbane Technology Park, Eight Mile Plains, Brisbane

$44 (incl. GST)

QWESTNet Future Transport Agenda

Register Here
Before: 2pm Friday 10 September 2010

qwestnet.info@derm.qld.gov.au
or phone (07) 3330 5433

Received & published by Henry Sapiecha


NETWORING EVENT FOR HERVEY BAY BUSINESSES

August 16th, 2010

BUSINESS HERVEY BAY IS ON THIS FRIDAY

Something to brighten up this week, our next Business Hervey Bay is:

Date: Friday, 20 August

Where: The Pavilion by the Pier
1 Pier Street, Urangan

Time: 5.30pm – 7.30pm

Cost: Gold Coin Donation

Thank you to our sponsors who are:

Pavilion by the Pier

Mission Australia Employment Solutions

You can find out more about these sponsors by checking out the website at www.businessherveybay.com

So come along on the night and network with your friends in business. See you there and don’t forget to pass this along to other business people you may know who would be interested in joining us.

For more information on Business Hervey Bay or to register to receive a regular email update on the monthly functions log on to http://businessherveybay.com

We look forward to seeing you there.

Received & published by Henry Sapiecha

COLTON MINE PROJECT HAS LODGED EMP FOR ASSESSMENT OF COAL MINE PROJECT

August 16th, 2010

Mr Henry Sapiecha


Dear Henry,

I am writing to inform you that Northern Energy Corporation Limited (NEC) has lodged the Environmental Management Plan (EMP) for its proposed Colton mine project with the Department of Environment and Resource Management (DERM) for their review.

We at NEC have made every effort to ensure that we keep all interested community members informed about the proposed Colton mine project. You are receiving this email because you have indicated to us that you would like to be kept up to date about our progress, and you provided us with your email address. We have written you a letter as well, and this should arrive in the coming days.

Activities we have undertaken to inform people about our project include holding community information sessions in Maryborough, Howard and Aldershot, introduction of various feedback mechanisms including the 1800 information line, updated project information on the company website and efforts to promote awareness of the EMP process and the Plan itself to enable community members and other interested parties to comment and provide feedback on the plan.

The EMP for Colton mine project includes reports with baseline studies on all project related issues and highlights measures proposed by NEC to ensure that the project’s environmental impacts are managed appropriately.

DERM will undertake an initial review of the EMP and will advise statutory requirements for further advertising and public comment in due course.

In the meantime, if you are interested in getting a copy of the EMP for your own review you can visit the project website and download a copy for yourself. You will see that there are quite a few files, and some of them are quite large. We have done our best to break them down into small reports and have provided enough detail in the title block to allow you to make a decision about which parts of the report you wish to download.

The address to access the full EMP, including all of the appendices and supporting reports, is:

http://www.northernenergy.com.au/projects/maryborough/environment-manage.html

Queries or comments may be directed to the project

toll free number on 1800 266 296

or email at coltonmineinfo@northernenergy.com.au.

Yours sincerely

Mark Turner

Chief Operating Officer

Northern Energy Corporation

Received & published by Henry Sapiecha

TAKE THIS SURVEY ON BUSINESS CONDITIONS AS YOU SEE THEM

August 13th, 2010

CCIQ Business Updates.

you have problems viewing this eNewsletter please use this link: www.cciq.com.au/policy/100730-business-update.htm

Chamber of Commerce Queensland and Industry Queensland Business Update
30 July 2010

Commonwealth Bank CCIQ Pulse Survey of Business Conditions
June Quarter 2010

This quarter has seen a dramatic downturn in business confidence and conditions

at both a State and National level with all indicators falling sharply. This confirms

fears from the last quarter that the Queensland and Australian economies may not

yet be clear of the effects of the global economic uncertainty and outlook.

What is apparent from the June Pulse Survey is that more than ever, business and

consumer confidence and economic and political uncertainty have a profound

impact on the stability and performance of our economy. In the three months to

June 2010 a number of significant policy decisions and events including the

announcement and subsequent scrapping of the Resource Super Profits Tax,

the change of leadership in Federal Parliament and the ongoing speculation

on the federal election have culminated to depress consumer spending and

business profitability and growth.

CCIQ brings the above and attached information to your attention and kindly

requests you to take this into account in your deliberations over coming months.

Graph - 12 month outlook for Queensland and Australian economies

> Click to forward this email to a friend or colleague

Further information

For further information please contact the CCIQ Policy Team by calling

07 3842 2267 or email policy@cciq.com.au.

Commonwealth Bank logo

Contact t: 07 3842 2267 | e: policy@cciq.com.au | w: www.cciq.com.au

This email was sent to secretary@coralcoast.org.au

from Chamber of Commerce & Industry Queensland

Recieved & published by Henry Sapiecha



PROPERTY ICONS OF AUSTRALIA – PEOPLE AND COMPANYS

June 19th, 2010

WHAT ARE THE MOST MENTIONED MOVERS & SHAKERS IN THE PROPERTY FIELD?

MOST MENTIONED PEOPLE

In Property

Glenn Rufrano Michael Cameron
Westpac Greg Goodman
Matthew Quinn Macquarie Group
Kevin Rudd Nicholas Bolton
Glenn Stevens Nick Collishaw
Harley Dale Steve Mccann
James Packer Harry Triguboff
Citigroup Keith De Lacy
Matthew Chun Nic Lyons
Christopher Joye Charles Moore
Eric Lucas Tim Lawless
Wayne Swan Frank Lowy
Laurie Brindle Craig James
Bob Johnston Steve Keen
Ross Daley Michael O’brien

MOST MENTIONED COMPANIES

In Property

Asia-Pacific Economic… GPT Group
Centro Properties Group Mirvac Group
Westfield Group Commonwealth Bank Of …
Stockland Goodman Group
Lend Lease Corporation Sunland Group
Dexus Property Group Trinity Group
Centro Retail Group National Australia Bank
Macquarie Group Australia and New Zea…
Payce Consolidated Wesfarmers
AMP Lend Lease Group
Commonwealth Property… Woolworths
RP Data ING Office Fund
Macquarie DDR Trust Charter Hall Group
Valad Property Group

Sourced and published by Henry sapiecha