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TAS Country : January 24th 2013
6 Tasmanian Country Friday, January 25, 2013 News Upside to a drab NAB Market Watch Bede Donnelly & Will Richardson WHICH bank offers the highest yield? Hereisatip--itisnotthe Commonwealth Bank, it is the National Australia Bank. NAB is Australia's largest business bank by assets; it is the country's fourth largest retail bank with $15b deposits in its online bank (UBank); and its wealth division is made up of NAB Private Wealth, MLC, JBWere, Navigator, Plum and JANA. The bank also has international interests in the UK (Clydesdale Bank and Yorkshire Bank), New Zealand (Bank Of New Zealand) and the US (Great Western Bank). In addition to all of this, NAB has a global banking division which includes products such as foreign exchange, capital markets, derivatives and custodial services. Today all the banks deal in very similar products but in varying degrees and therefore have greater exposure to different areas. For instance, NAB has more exposure to Europe than the other three major banks and less exposure to Asia. NAB is highly leveraged to the business sector and has less exposure to the retail or personal banking sector. Recently, we have seen NAB's share price underperform the other three major banks due to the following: European banking operations continue to be a thorn in their side. Our analyst believes that NAB's share price is set to re-rate positively if a buyer can be found for the UK operations. NAB's business bank- ing unit is hurting and this is bound to have a negative impact when you are the largest business bank in Australia. We need to see business conditions and confidence change to improve this division's profitability. These areas are the main reason why the NAB share price has underperformed when compared with its peers. Ifweseean improvement here it is likely shareholders will be rewarded with above average returns. At current prices, NAB is trading on a low price earnings ratio of 10.4 times forecast earnings for 2013 and yielding 7.20 per cent fully franked. This is general advice and contact us or your adviser to discuss further. Bede Donnelly and Will Richardson are advisers with Bell Potter Securi- ties Ltd, Level 9, 86 Col- lins St Hobart. Visit www.bellpotter.com.au. GROUND CONTROL: The Rowtrac features a new undercarriage and 3m track spacings. Country Wheels Case chases front row FARM machinery manufacturer Case IH is launching its Rowtrac in Australia after it made its debut at last year's US Farm Progress Show. A variation of the Quadtrac tractor, the Rowtrac features a new undercar- riage design, 3m track spacings and narrower tracks, making it perfect for row crop applications. At the smaller end of the tractor range, the Farmall name will re-enter the Australian market. The new Farmall B and Farmall JX models will range from 23-110hp. Case IH sales and marketing direc- tor, Bruce Healy said the company would introduce a new level of tech- nology to farmers this year. In harvesting equipment, the new Axial-Flow features a new cab, a longer swivel unload auger and an industry exclusive -- an in-cab controlled pivot- ing spout which enables operators to top bins off evenly. Sneaky fee leap hits agri-study CHRIS McLENNAN and ROGER HANSON THE Federal Government has made it more expensive to study agricultural science at a time the nation's leaders want more students to choose it as a career. On January 1, the Government quietly introduced changes to HECS fees for science and mathematics students at university. The change effectively doubles the tertiary cost of choosing those subjects. Numerous government inquiries have highlighted the national shortage of agricultural science graduates as holding agriculture and agribusiness back. About 800 graduates are being pro- duced for more than 8000 jobs. Before this year, the Government recognised science and mathematics as national priorities which attracted a lower student contribution rate. The Government paid the university the difference to make up the gap. From January 1, all Commonwealth- supported students enrolled in math- ematics and science units of study will be charged at the Band 2 rate. Students choosing to study agricul- ture are already charged at the Band 2 rate, along with health, computing and engineering. Based on 2012 rates, the maximum contribution per full-time student has increased from $4520 to $8050. Meanwhile, with Tasmania fac- ing labour shortages in some agricul- tural sectors, the TFGA is offering to its members or their staff an opportunity to undertake a heavily subsidised Certificate IV in Agribusiness. The largely self-paced on-line course, expected to start in March, is designed to fit in with a busy on-farm life. Contact the TFGA or email mel.kin- firstname.lastname@example.org for more information. Applications close on February 1. The specialist CareerHarvest website is another useful tool for those considering a career on the land. Parliamentary Secretary for Agricul- ture, Fisheries and Forestry, Sid Sidebottom, who launched the re- vamped website recently, said it pro- vides a hub for career information across the food and fibre industries. He says there is something for everyone, whether it's cutting-edge research and development, horticul- ture, business and finance or running a vineyard. CareerHarvest is operated by the Australian Council of Deans of Agricul- ture in collaboration with agribusiness recruitment company Rimfire Re- sources and website developer redhan- ded. More than 250 career options are listed, with details of the qualifications required, institutions where they can be gained, and first-hand accounts from people already working in similar roles. Visit the website at www. careerharvest.com.au Rob Ikin 0408 131 692 www.vdlirrigation.com.au Plus freight on some items * Delivery arranged Statewide 03621-130111 4B Swanston Rd St Leonards 7250 EMERGENCY BACK-UP ESSENTIALS 120watts 75watt AC inverter SOLAR GENERATOR KIT Stores 120 watts of power and includes an integrated 75 watt AC inverter. Charge many devices: 230V AC, 12V and USB outputs. Ecoboxx 120 Kit Includes: • Ecoboxx 120 Power Pack • 20 watt Solar Panel Kit (6-8h recharge) Portable solar power anywhere. $269* QENQUIP Tradie 3000W Digital Inverter Generator • Rated Power 3kVA • Electric Start • Clean Power/Lightweight $1199* Petrol Fire Fighting 6.5hp • Single Impeller $539* • Twin Impeller $589* incl. free Fire Fighting Hose Kit valued at $220 (valid until 28/02/2013) $1199* $539* $1099* Diesel High Pressure Pumps 6.6hp (Electric Start) • Single Impeller • 2" $1099* • Twin-Impeller • 1.5" $1199* 2031001-130111
January 17th 2013
January 31st 2013