NEWS IN BRIEF

Press, Volume CX, Issue 32395, 7 September 1970, Page 18

NEWS IN BRIEF

Smelter Finance

Comalco, Ltd has arranged with Deutsche Bank AG of West Germany a private placement of notes having a face value of 20m deutsche marks ($4.9m). The notes which have a currency of five years and will bear interest at 81 per cent. Comalco will use the funds for financing the first stage of the New Zealand Aluminium Smelters, Ltd plant in which it has a 50 per cent shareholding.

Rubies Found Jingellic Minerals NL has : found rubies on areas held by or under options to the company near Tumbarumba, Southern New South Wales. The gems have been examined and were proved to be 'authentic rubies by physical i tests and chemical analysis. Some of the stones have been cut and found to be of good quality.

FNCB Waltons B'NCB Waltons Corp, Ltd, group net profit for the year to July 31 was $1,529,139 compared with $1,328,035 last year. Tax provision was $1,273,701 compared with $1,012,915. The profit represents an increase of 15.1 per cent on last year’s figure, after allowing for a higher tax provision at the new company rate. The corporation’s penetration of the commercial lending market is reflected in a 36 per cent increase In net accounts and loans receivable.

Hamersley Finance

Hamersley Holdings, Ltd, has completed transactions in Europe and the United States for raising funds from the European public by means of debentures issued by a subsidiary, Hamersley Iron Finance, N.V. The debentures, which are for a principal amount of SUS2Om carry a coupon rate of 9j per cent per annum. They are guaranteed by Hamersley. Holdings, Ltd, and will be listed on the Luxembourg Stock Exchange.

Austim Subsidiary

Beaver Underwriting Corporation, one of the top five merchant banks in Australia and a subsidiary of the Australian Industrial and Mining Corporation (Austim) is to set up a merchant bank in Singapore. Austim chairman (Mr I. J. D. Murray) said the necessary steps are being taken for Beaver to get listing on the Stock Exchange of Malaysia and Singapore.

Dividends Due This Week

Ak. Laundry —Int. 4 Sep. 9 p.C. (Aug. 26) Turnhull Jones. —Final sj p.c. (sept. 9) Sep. 9 N.Z. Insurance.—Final 10 p.c. (Sept. 1) .. Sep. 10 Lend Lease.—Final 8 p.c. Sep. 11 G. J. Coles.—Final < p.e. (Aug. 7) Sep. 13