Company news: HT&E, Origin and Centuria Industrial REIT
HT&E has launched a new division adding Events to its existing two divisions of Radio and Outdoor Advertising. The first foray of the Events division will be eSports - a joint venture it has formed to create a professional eSports league with city-based teams including Melbourne Metattak and Brisbane Deceptors. Events will be broadcast live online and across TV and media platforms, and will be known as "The Elite Series".
Origin Energy has announced a writedown of APLNG and Lattice Energy (the conventional oil and gas assets it intends to spin off), totalling $1.17billion. This brings the total writedown for FY-17 to $3.1. Whilst this is disappointing, we acquired Origin with the understanding that the market was essentially valuing the APLNG assets at close to zero. As such, it is not unexpected, and there is a growing demand outlook for LNG in the medium to long term.
The Centuria Industrial REIT has announced the acquisition of an industrial property, 92 Robinson Avenue in Belmont, WA (between Perth airport and the Perth CBD). The property is occupied by Toll Transport and was acquired on favourable metrics.