Australand Property Group
Australand was listed on the Australian and Singapore Securities Exchanges in June 1997 and was formed into a stapled group in November 2003 with the stapling of units in Australand Property Trust to the ordinary shares in Australand Holdings Limited. In October 2005, Australand Property Trust No.4 and Australand Property Trust No.5 were merged with Australand. As a result of this merger, Australand has four listed entities (namely Australand Holdings Limited, Australand Property Trust, Australand Property Trust No.4 and Australand Property Trust No.5) whose securities are stapled together and trade on the Australian Securities Exchange and Singapore Securities Exchange as the one stapled security.
Australand has been involved in property development for more than 80 years and Australand has progressively widened the scope of its activities to satisfy the needs of an ever changing and more sophisticated client base.
Australand has three operating divisions being Commercial & Industrial, Residential and Investment Property. It employed 489 people as at 30 June 2009. Its operations are located in Sydney, Melbourne, South East Queensland and Perth and a sales office in Hong Kong servicing the Asian market. As at 30 June 2009, the Investment Property division had a total portfolio value of $2 billion with 70 properties, including 2 properties under development and 2 properties subject to unconditional contracts of sale, and a total lettable area of 1.2 million sqm.
The Australian stocks market on Tuesday extended gains as Dow Jones index hit a two-month high due to strong US new home sales and corporate earnings.
Shortly after the opening bell, the S&P/ASX200 Index rose 0.74 per cent, and the broader All Ordinaries Index was up 0.7 per cent.
US stocks rose on Friday after Federal Reserve Chairman Ben Bernanke said the central bank is winding down its emergency lending programs established to end the financial crisis.
On Wednesday, the Australian shares dropped more than 2% dragged by the property and mining sectors. The benchmark S&P/ASX200 index was down 70.8 points, or 2.02 per cent, at 3,437.9, while the broader All Ordinaries index shed 66.8 points, or 1.94 per cent, to 3,382.3. The market could restore some confidence over the news that the US service sector shows it shrank at a low pace and China's national purchasing managers index suggests a recovery in China.
Yesterday the Australian share market was dragged down by a 6% fall in Rio Tinto and broad-based weakness across the resources sector on falling commodity prices and a weak US lead. The benchmark S&P/ASX200 was down 56 points, or 1.1%, to 5060, while the broader All Ordinaries had lost 64.5 points, or 1.2%, to 5130.5.
The Australian share market fell 1.5% on Tuesday after a disappointing lead from the US reignited jitters over local financial stocks. Wall St was buoyed by a drop in the oil price and positive consumer confidence data. A survey shows in the US home prices in the 20 large cities declined 0.9 per cent on a monthly basis to May. US stocks rocketed higher as the latest slide in crude oil and news that investment giant Merrill Lynch was taking steps to shore up its finances energised the market.
The Australian share market fell over three per cent on Friday after troubling news from National Australia Bank (NAB) related to losses from investments in risky US mortgages, and a weak lead from Wall Street. But gains on US markets on Friday night are expected to encourage investors to pick up stocks that were oversold during Friday's 3 per cent fall.
AUSTRALAND PROPERTY GROUP Real Estate Forum<br/>Mr Brendan Crotty, Managing Director; Boardroomradio is pleased to announce that AUSTRALAND PROPERTY GROUP (ASX: ALZ) has published an audio file. The f