Great Southern announces new focus
Cameron Rhodes
Agribusiness funds manager Great Southern plans to embark on a major restructure that will create Australia’s largest hardwood plantation forestry business and a new cattle business.
Titled Project Transform, the plan involves Great Southern repositioning itself with three separate streams of forestry, agricultural investment services and cattle.
The aim is to combine the company’s key asset — high value agricultural land — with the tree and cattle assets of selected managed investment schemes (MIS).
In doing so, the manager hopes to reduce operating costs while improving earnings and cash flow to a level where Great Southern’s market capitalisation would be $800 million.
The company’s managing director, Cameron Rhodes, said if approved, the restructure would add significant value to stakeholders.
“We will be an integrated forestry business and have additional revenue and cash flows from both forestry and cattle to complement our existing tax effective MIS business,” he said.
AUTHOR
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.
