This Brisbane home is also a boutique cheese factory

first_imgThe specialty goat cheese is available at markets across south east Queensland.“Now, nearly five years later we have 44 goats,” she said.They installed the necessary infrastructure for cheese making and milking and built a loyal customer base around south east Queensland with their well-received Frolicking Goat branded goats cheese.With their cheese winning awards and orders growing, she said they would need to move to a larger property outside of Brisbane to keep their business growing. “I can’t have silos for grain so it is very expensive for us to be in Brisbane,” she said. The specialty goat cheese has won several industry awards.Owners Lyndall Josey said she and her husband Peter Schwenke just wanted a relaxing Brisbane home they bought the property at 200 Kloske Road in Burbank 16 years ago.But when her husband wanted a career change from IT, he decided to learn the art of making goat cheese.“He had no farming background whatsoever,” Ms Josey said. After he learned the basics of making goat cheese, they bought one goat so they would have a steady supply of milk.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours ago SAY CHEESE: The owners transformed the acreage property into a small goat farm.CHEESE lovers, this house could be for you.An acreage home in Brisbane’s south east comes with one unique addition that is a real rarity in capital city property.With the entire infrastructure for goat farming and milking installed on the property, a new owner could be making their own goats cheese in no time. The goats do not come with the property.Although the goats were not for sale, the goat shed, milking area and hay shed was staying with the home.“It would suit any form of livestock,” she said. As well as the farming facilities, the 1.99 hectare property has a five-bedroom home with solar power and a backyard pool. Acreage with a difference.The property will be auctioned by Ray White Springwood on Friday, May 11 at 10am.last_img read more

FRC’s asset-ceiling proposals for DB sponsors draw mixed reactions

first_imgHowever, speaking in support of FRED 55, Aon Hewitt accounting specialist Martin Lowes said: “This strikes me as a very sensible departure from IFRIC 14, and they have clearly taken a pragmatic approach within the spirit of simplifying GAAP for smaller companies.”FRS102 is a simplified and localised version of the IFRS for SMEs.It takes effect for accounting periods beginning on or after 1 January 2015 and replaces the majority of today’s UK Financial Reporting Standards and UITF Abstracts.In effect, this means the majority of UK and Irish large and medium-sized entities – among them public benefit entities, retirement benefit plans and financial institutions – will apply the new standard.The source of the dispute between the experts are proposals in FRED 55 that the FRC hopes will address concerns over whether or not an entity that applies FRS102 should have regard to the principles in IFRIC 14.IFRIC 14 is a guidance document issued by the IASB in 2007.It deals with the interaction between a minimum funding requirement and the restriction in paragraph 58 of IAS19 on the measurement of the DB asset or liability.FRED 55 would kick in where an entity reports under FRS102 and has already booked a DB asset or liability on its balance sheet.As the proposals stand, an entity in that position would need to recognise no further liability in respect of an agreement to pay future deficit contributions (in excess of the accounting deficit) under a schedule of contributions.In addition, on a separate issue, FRED 55 confirms that entities should recognise the effect of restricting the recognition of surplus in a DB plan, where surplus is not recoverable, in other comprehensive income and not in profit and loss.The FRC has issued a number of editorial amendments and clarifications to FRS102 since it released the new standard on 14 March 2013.Entities that are not required to apply EU-endorsed IFRS, the FRS101 Reduced Disclosure Framework or the FRSSE must apply FRS102.Explaining the impact of the FRED 55 approach against full IFRS, Martin Lowes told IPE: “The FRC has proposed a few extra words to bring about some clarity.”The UK regulator, he said, has “clarified that if you have promised to pay future deficit contributions, you don’t need to look at whether you will build up a surplus in the future and then look at whether you can get benefit from that future surplus.”Instead, he said, DB sponsors “just need to look at whatever the pension surplus or deficit is at the balance sheet date”.But this clarification, Narayan Peralta argued, runs the risk of creating accounting arbitrage between FRS102 and IAS19R/FRS101.“This is unfortunate, as, faced with the option between FRS101 and FRS102, there is now a ‘pensions arbitrage’ if an entity faces no other material differences between the standards,” he said.Choosing FRS102, he explained, “could leave them with a significantly better balance sheet position”.For IFRS reporters who recognise an additional liability under IAS19, Peralta went on, “there will be a GAAP difference to their statutory accounts”.The FRC has previously said one of FRS102’s objectives is to “have consistency with international accounting standards through the application of an IFRS-based solution unless an alternative clearly better meets the overriding objective”.Practice around the asset ceiling in pensions accounting has gained added urgency since May this year, when the IFRS Interpretations Committee (IFRS IC) began looking at the issue.Specifically, the committee is mulling changes to IFRIC14 that could restrict the size of the balance-sheet asset a DB sponsor is able to recognise on its balance sheet asset. A constituent has asked the committee to consider whether preparers should take account of events that might disrupt the plan unfolding in line with the IAS19 assumptions when they apply IFRIC 14.An example would be the trustees of a DB scheme whose future actions could reduce the ability of a sponsor to recognise an asset, even though they might have taken no steps to do so at the entity’s balance sheet date.Neil Crombie, a senior consultant with Towers Watson, said: “We are surprised by the FRC’s decision to adopt the approach it has with FRED55 in that we would probably have expected an approach more consistent with the direction of travel on IFRIC 14.”As for concerns about accounting arbitrage, he said although he agreed there was now potential for inconsistency between IFRS and FRS102, “any decision to go for UK GAAP over IFRS will come down to a lot more than just pensions”.Interested parties have until 21 November to comment on the proposals.If adopted, the amendments will be effective for accounting periods beginning on or after 1 January 2015. The UK Financial Reporting Council (FRC) has issued proposals for public comment it hopes will clarify how defined benefit (DB) plan sponsors will account under UK and Irish Generally Accepted Accounting Principles (GAAP).In a statement, Roger Marshall, FRC board member and chairman of the FRC’s accounting council, said: “The proposed amendments are intended to resolve uncertainty over the application of FRS 102 in a proportionate and practical manner before FRS 102 becomes mandatory.”But expert practitioners who spoke to IPE.com about the move gave the proposals, referred to as FRED 55, a mixed reaction.In particular, KPMG director Narayan Peralta warned that the move risked accounting arbitrage between FRS102 and International Financial Reporting Standards (IFRS).last_img read more

Private equity to woo DC pension funds, says Coller Capital survey

first_imgColler Capital’s latest quarterly Global Private Equity Barometer suggests the world’s limited partner (LP) community is almost unanimous in its expectation that defined contribution (DC) pension schemes will become a source of private equity capital over the next five years.The findings, based on the private equity secondaries specialist’s survey of 114 investors worldwide, also show growing enthusiasm for private equity in general, and buy-and-build and private credit in particular – despite some concern over what the exit environment for private assets might look like in 3-5 years’ time.Almost nine out of 10 investors see DC providing private equity capital within five years, with 27% of European LPs believing DC schemes will provide “significant” capital to the asset class.Stephen Ziff, a partner at Coller Capital, said: “The backdrop to the finding about DC assets going into private equity is one of more capital in general moving into alternatives, and private equity in particular. “But in addition there has been a shift in the pensions landscape over the past several years, and GPs are certainly looking for new sources of capital. The industry is slowly starting to get to grips with the challenges, to varying degrees – particularly features of DC investments like liquidity and daily pricing.”The survey hints at more big shifts in the way funds are raised for private firms. Responses suggest a big increase in the number of investors making direct investments or co-investments for more than 25% of their private equity assets within five years – going from 23% of respondents to 38%.Credit also looks set to grow in importance alongside equity in private asset portfolios, with 34% of LPs expecting to increase their allocation over the next 12 months.“Credit is still attracting capital, reflecting this continuing disintermediation of the banks,” said Ziff – a trend reflected in another survey finding, that 65% of investors expect collateralised loan obligations (CLOs) and high-yield bonds to provide a larger share of buyout debt financing in the next three years.Investors are focusing their attention on the middle ground of growth equity, at the expense of both large LBO and venture capital.Two-thirds of survey respondents expect buy-and-build to outperform other buyout investments over the coming cycle.LPs also think further enhancement of GP operational skills – a crucial capability for buy-and-build – has the greatest potential to boost returns, relative to greater specialisation, improved understanding of macroeconomic cycles, new fund structures or wider adoption of ESG principles.“LPs recognise that the buy-and-build approach will become increasingly prominent in an era when you can’t just rely on financial engineering,” Ziff said.Meanwhile, almost half of the LPs surveyed say venture capital is now “irrelevant” to the funding of early-stage innovation.Ziff suggested this is down to the rise of new sources of funding – including crowdfunding, corporate venture within the cash-rich tech sector, and second-generation entrepreneurs who are seeding their next business with proceeds from their first.“But in the venture world itself,” he added, “a number of funds have moved from pure venture into growth equity financing and buyout without there being a steady stream of replacements.”Ziff said the survey highlights the “continued resurgence” in private equity, revealing an LP community looking to increase their allocations over the next 12 months and expressing positive expectations for returns over the next 3-5 years – higher than they were for the same period two years ago.The contrast with hedge funds, where one-third of respondents plan to reduce allocations – ostensibly in the light of the divestment decision recently taken by CalPERS – is clear from the survey.“Private equity is generating performance in a low-yield environment,” said Ziff. “The one note of caution is that LPs do have an eye on the exit environment looking 3-5 years’ out.”Almost 40% of the respondents – 41% of which were based in Europe, while 45% represented pension funds or insurance companies – expect the next “major downturn” to occur within three years, while there is near-unanimity on a major downturn within five years.Fieldwork for the Barometer was undertaken for Coller Capital in September and October 2014 by Arbor Square Associates.last_img read more

Townsville’s house of the year announced

first_imgThe Resort home at Jensen.A SIX-BEDROOM, resort-style home has taken out the prestigious North Queensland Master Builders House of the Year award.The winner was announced at the Ville last night during the 2018 Housing and Construction Awards ceremony. The Resort home at Jensen.The home built by Dean Powell Constructions was a standout due to its exceptional street appeal and contemporary styling.The owners wanted a resort-style home that made use of innovative, easy-care finishes while taking advantage of the cooling breezes.They also wanted a resort-style pool, while the home, which is positioned on a large acreage block, had to suit an urban/country lifestyle. The Resort home at Jensen.The house was also made to be energy efficient through the use of solar power including battery storage, solar hot water, roof insulation, large eaves, tinted windows and louvres which minimise the need for  airconditioning and artificial lighting.The large master bedroom has an ensuite bathroom and walk-in wardrobe while a formal lounge area overlooks the pool and garden to evoke a relaxed feel. The Resort home at Jensen.There is also a 150sq m rendered block shed in matching colours and finishes to the house.Dean Powell Constructions and their team of skilled tradesmen delivered the home on time to create a house that provides comfortable, North Queensland living. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020The Resort home at Jensen.Master Builders judge Martin Brooke said the home was a high-quality build that showed attention to detail.“It has a really impressive entrance and there was a really seamless transition between the indoor and outdoor areas,” he said.“I really liked that the outdoor area, while being open, was also sheltered so it was designed for North Queensland weather conditions. It was definitely liveable and was designed around the needs of the owners.”Upon entering the home you’re met with the statement foyer which sets the tone of the home.The house’s huge kitchen has a butler’s pantry and luxurious finishes while the dining and entertaining areas use natural ventilation to cool the home in North Queensland’s hot and humid climate.last_img read more

Spend less on kitchens and bathrooms for same sale result

first_img61 Goldrush Close, GoldsboroughA NEW survey has revealed sellers hoping to spruce up a property and add value need not overspend on a new kitchen or bathroom.Tradie comparison site ServiceSeeking.com.au has revealed that shrewd property investors are spending much less on kitchen and bathroom renovations that most might think. The average quote for a kitchen renovation on the website is just $7685 and bathrooms is $8429.Typical kitchen renovations include adding new cupboard doors, benchtops and flooring, which might add $20,000 to $30,000 to the equity – double or triple the investment. On the other side of the coin, the research found small kitchen and bathroom renovations could be very lucrative for tradies. ServiceSeeking.com.au member Murray Pulldore said by focusing on these jobs, he had generated $500,000 of turnover. The average quoted price for a kitchen renovation in 2017/18 was $7685, down from $7795 in 2016/17.The median quoted price for a kitchen renovation in 2017/18 was $5520, down from $5500 in 2016/17.The average quoted price for a bathroom renovation in 2017/18 was $8429, up from $7059 in 2016/17.More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago100 Collins Avenue, Edge Hill.The median quoted price for a bathroom renovation in 2017/18 was $8000, up from $5500 in 2016/17. The most spent on kitchen and bathroom renovations in 2017/18 was $15,000, with the least just $1000.Real Estate Institute of Queensland Far North zone chairman Tom Quaid said buyers were always impressed by a well set-out, modern cooking space.In Cairns, buyers are looking for plenty of bench space and a good pantry. Stone benchtops are still in demand and some timber benchtops are also desirable if they are custom-designed and built with quality materials.Big ovens even if you don’t need it or use it all that often, are also on the must-have list for prospective buyers.Cairns Property Office agent Robyn Hawley-Whitton recently sold a Goldsborough home with a well-appointed chef’s kitchen featuring an induction cook top, 900cm wall oven, plumbed fridge, dishwasher and servery. A waterfall custom-built desk could be used as extra breakfast bar seating or an office off the main cooking room. Stand-alone baths are rare but will also set a property apart, especially with a view of a garden or leafy area.last_img read more

Total’s adjusted profit up by 13 pct on record output

first_imgFrench oil major Total saw its net profit fall by 7 percent for the first quarter of the year. However, in adjusted terms, Total’s profit rose by 13 percent as its production grew by 5 percent. According to its financial statements released on Thursday, the company’s net income decreased by 7% to a $2.6 billion from $2.8 billion in the first quarter of 2017.On the other hand, Total’s adjusted net income was $2.9 billion in the first quarter of 2018, an increase of 13% compared to $2.6 billion adjusted net income a year ago.The increase was due to the performance of the segments which increased by a 22%. The net cost of the net debt increased compared to last year, mainly due to the increase in dollar interest rates.Adjusted net income excludes the after-tax inventory effect, special items and the impact of changes in fair value. Total adjustments affecting net income were -248 million dollars in the first quarter 2018.Revenues from sales for the first quarter of this year amounted to $43.3 billion from $36.1 billion in the same period of 2017.Total on Thursday also said it will raise its first 2018 interim dividend by 3.2% compared to the three 2017 interim dividends and the final dividend. Total’s first 2018 interim dividend is set at 0.64 euro per share.Total Chairman and CEO, Patrick Pouyanné, said: “First quarter production reached a record level of more than 2.7 Mboe/d, an increase of more than 5% from a year ago, despite the expiration of the Mahakam permit in Indonesia.”Hydrocarbon production rose by 5% to 2,703 kboe/d in 1Q 2018, compared to 1Q 2017 and production of 2,569 kboe/d.This was due to a 7% increase due to new start-ups and ramp-ups, notably Moho Nord, Yamal LNG, Edradour-GIenIivet, Kashagan, Fort Hills and Libra; 0% portfolio effect. The integration of Al-Shaheen in Qatar, the assets of Maersk Oil, Waha in Libya and Lapa and Iara fields in Brazil were offset by the expiration of the Mahakam permit in Indonesia at the end of 2017; +1 % related to improved security conditions in Libya and Nigeria; -3% due to the PSC price effect, natural field decline and production quotas.Since the start of the second quarter 2018, Brent has traded at around 70 $/b in a context of sustained demand growth and inventory reduction. Total said that the environment remains nevertheless volatile with persistent uncertainty around the evolution of global supply.The company rigorously maintains its discipline on costs. The Opex target of 5.5 $/boe is maintained for 2018. The cost reduction program is ongoing with an objective of more than $4 billion in 2018. The group’s organic breakeven point continues to decrease, with a target of 25 $/b this year.An investment level of $15-17 billion is confirmed for 2018.Production growth should surpass the 2018 target of 6%, thanks to the start-ups and ramp-ups of new projects, as well as the integration of recently acquired assets, supporting the 2016-22 target of 5% per year on average.Offshore Energy Today Stafflast_img read more

Caribbean women being lured into cross-border sex trade

first_img 59 Views   no discussions LocalNews Caribbean women being lured into cross-border sex trade by: – March 5, 2012 Sharing is caring! Share Sharecenter_img Tweet Share WASHINGTON, DC, USA — Exotic bars and massage parlours have become covers for some of the brutal experiences that women are undergoing as sex workers who are trafficked through the Caribbean, even as governments bristle at the suggestion that the problem exists.Hilary Anderson. Photo credit: Jamaica ObserverYasmin Solitahe Odlum, gender specialist, Inter- American Commission of Women (CIM) in the Organisation of American States (OAS), said trafficking is a huge problem in countries like Jamaica, Suriname, Belize, the Dominican Republic and Trinidad and Tobago, a problem exacerbated by the confusion in the region about what exactly is trafficking.Speaking to Caribbean journalists on a US State Department Foreign Press Centre domestic violence tour in Washington, DC, last week, Odlum said there is need in the region for serious empirical studies to determine the scope of what is considered trafficking.The Organisation of Eastern Caribbean States (OECS) governments, she said, are the most resistant to the notion of accepting the existence of human trafficking, and this has to do with the fact that they are so tourism-dependent.“There’s a whole discourse that needs to be had honestly and sensitively where the OECS nations are concerned,” she said. “To dare suggest that there is any trafficking, and then the United States has a tier list that it puts countries on… and the countries are bristling a little under the requirements of getting to a better position on this tier list, and that hides a lot of what goes on.”Trafficking, according to the United Nations protocol, is defined as “the recruitment, transportation, transfer, harbouring or receipt of persons by means of threats, or use of force, or other forms of coercion, of abduction, of fraud, of deception, of the abuse of power, or of a position of vulnerability, or of the giving or receiving of payments or benefits to achieve the consent of a person having control over another person, for the purpose of exploitation”.Hilary Anderson, specialist on key women’s issues in the region at CIM, said a number of the countries in the Caribbean don’t know how to begin to deal with the plethora of issues surrounding trafficking that is overwhelming them, even as more women become vulnerable.“The women are lacking in economic empowerment for various reasons. They become vulnerable to these networks of people who promise them a better life and other opportunities because they don’t have what they need to support their children and their families where they are, so they become vulnerable to trafficking, or to involvement in gangs, or to criminality just because they are lacking basic necessities in their daily lives,” she said.Many women also become vulnerable to trafficking, she said, because they’re living in situations of violence already. Their fathers or their uncles or their brothers or other male family members have subjected them to violence, so in order to escape the violence they may be more vulnerable to trafficking.“Trafficking involves an extraordinary amount of violence against women,” she said.CIM was the first inter-governmental agency established to ensure recognition of human rights of women. It has become the principal forum for debating and formulating policy on women’s rights and gender equality in the Americas.Between 1999 and 2000 CIM started studies in Latin America and Central America on trafficking in persons in an effort to find out what exactly was happening in the region.CIM teamed with the International Organisation of Migration and expanded the study that had started in Belize, to nine other Caribbean nations, including Jamaica, Odlum said.“That was quite an interesting bit of work, because the governments were very resistant, they did not want us to come and determine that there was trafficking in the Caribbean, so there was a lot of push back against that sort of project,” she added.She said the topic started to blow up, and the OAS subsequently had to redefine the portfolio to its Department of Public Security, because it felt that the problem of trafficking was bigger than the CIM’s capacity to handle it.This department now addresses the problem by working with police, Immigration officials and other representatives of the security sector to try to identify suspected victims and process them in an Immigration setting, something Anderson said doesn’t necessarily address the issue from a holistic perspective.“We certainly think it’s a problem in the region,” said Anderson. “We would like to see the CIM expand its work in trying particularly to prevent human trafficking though its development area and providing women with economic opportunities to reduce their vulnerability to trafficking. So we would prefer to take a more holistic approach to trafficking,” she said.She explained that CIM is exploring proposals with other areas of the OAS that are involved in this work.By: Petulia ClarkeJamaica Observerlast_img read more

Several colleges to waive applications fees this week

first_imgStatewide — At least 16 colleges will waive college application fees during Indiana’s College Application Week, September 21-25, according to the Indiana Commission for Higher Education. Another 24 institutions of higher learning have reported free applications year-round.College Application Week is part of Indiana’s annual “College GO!” initiative taking place each August through November with information and resources designed to help Hoosiers plan for education beyond high school.Locally, IUPUC is waiving their application fee for high school seniors this week. Application fees at Franklin College, Ivy Tech, University of Indianapolis, Butler University, Indiana Wesleyan University, and many more have been waived for the year. Click here to view the complete list of participating colleges online.last_img read more

United hit by Jones blow

first_imgPhil Jones is likely to be ruled out of Manchester United’s Champions League last-16 first-leg encounter with Real Madrid next week after being struck down by a bout of shingles. Jones missed United’s Barclays Premier League win at Fulham on Saturday and 24 hours later was withdrawn from the England Under-21 squad for Wednesday night’s encounter with Sweden in Walsall. No reason was given by the Old Trafford outfit for the absences. However, England Under-21 coach Stuart Pearce has confirmed Jones is suffering from shingles. “Jones picked up shingles and there’s not a lot we can do about it,” said Pearce to several national newspapers. “It’s a shame because it makes us stronger when Phil’s here, that’s for sure. But it gives someone else a chance.” A similar virus to chicken-pox, shingles is relatively common and the symptoms last for at least a fortnight. So, depending upon the severity, it is difficult to see Jones recovering in time to make the trip to Madrid for next Wednesday’s game. It would be a blow to Sir Alex Ferguson too as the youngster recently excelled in a central midfield role against Tottenham and United might have been looking for Jones to carry out the same duties again as they look to get a positive result to take back to Old Trafford for the decider on March 5. center_img Press Associationlast_img read more