Company news: TZ Limited, Centuria, Aveo, South32
TZ Limited, the smart lock designer and manufacturer, announced the next generation product release of its mailbox solution. It is targeted at university mail centres in the US, as well as postal services globally.
Centuria has announced it has acquired three properties for the Centuria Metropolitan REIT (CMA). Two of the properties are located in the central area of Perth - one leased to WA Police and an engineering firm, and one leased to IAG (the insurer). CMA also made an initial payment for the new Target headquarters in Williams Landing (being constructed by Cedar Woods, coincidently an investment in the Property allocation). Completion of this building is expected in Q1 of CY-19. Centuria is conducting a capital raising to assist funding the purchases. We have elected to take up your rights.
The Queensland government has announced it is planning to implement revised legislation in the retirement sector by the end of the year. Hopefully these reforms will bring some clarity to the sector, and may even act as a trigger to create harmonisation across the states. We fully support these changes, and understand that Aveo's Aveo Way contracts are consistent with the intent of such legislation.
South32 announced operations at its Appin coal mine remain suspended, and subject to a safety and reliability review. Although the sister Dendrobium mine continues operations, FY-18 coal production is expected to be impacted.