Territory Stories

The Northern Territory news Wed 14 Mar 2012



The Northern Territory news Wed 14 Mar 2012

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NT news


The Northern Territory news; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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Nationwide News Pty. Limited

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Copyright. Made available by the publisher under licence.

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Nationwide News Pty. Limited



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www.ntnews.com.au Wednesday, March 14, 2012. NT NEWS. 23 P U B : NTNE-WS-DA-TE:14-GE:23 CO-LO-R: C-M Y-K www.forkliftsolutions.com.au Salesyard at: 20 Casey Rd, East Arm 8947 3490 FOR SAL E 1 0 0 6 0 0 8 _ v 2 2.5T Linde Ex Demo Diesel Container mast Sideshift 4th valve Sales Hire Se rvice (24/ 7) NEW $37,0 00 NOW $29,000 ex 1 LEFT ON LY! ON SPECI AL ntnews.com.aul l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l BUSINESS WEEK Labourer Steve Mow works on the new Village@Parap development. Planning expert Paul Eagles says rapid growth due to the mining industry will be a challenge for Darwin. He is in town to give a speech on the subject next week Picture: MICHAEL FRANCHI Facing up to rapid growth By NIGEL ADLAM Is the development industry prepared for the challenges it must face in delivering the type of housing the gas industrywill require? DARWIN can learn from the Gladstone experience, a planning expert will tell developers next week. Queensland Urban Land Development Authority chief executive Paul Eagles will draw comparisons between the rapid growth of Gladstone and the Northern Territory capital. The event is being staged by the NT Urban Development Institute. Chief executive Graeme Suckling said: The Territory Government has attracted very significant industry investment to Darwin, and we are expecting to undergo rapid changes due to the gas industry. But is the development industry prepared for the challenges it must face in delivering the type of housing the gas industry will require, while simultaneously delivering affordable housing for the rest of the community? Parts of Queensland have already experienced significant changes in similar circumstances. Can we learn from their experiences? Mr Eagles will speak at the ANKA Bar in Mitchell St next Tuesday at 5.30pm. For tickets to the talk, email ceo@udiant.com.au or call 0457 882 793. Developers believe the Territory is on the cusp of the biggest economic boom in its history. In a series of articles in the NT Business Review, Mr Suckling has argued for planning precincts to be established. He has also come out in conditional favour of the Governments new dual occupancy ruling, which allows people with a block of at least 1000sq m to build a second home on their land. Mr Suckling said that planning authorities should allow doubling up on blocks which were slightly smaller than 1000sq m in certain circumstances. The Urban Development Institute also has backed the village concept for Litchfield. There are believed to be about 16 major Darwin CBD development projects waiting for finance. Home loans drop, but no rate cut SYDNEY: The number of home loan approvals has fallen for the first time in 10 months, but according to economists, the news wont give the Reserve Bank of Australia (RBA) another reason to cut interest rates. Australian Bureau of Statistics data, released yesterday, showed the number of home loan approvals fell 1.2 per cent to 47,768 in January from the month before, the first monthly decline since March 2011. Economists forecasts had centred on housing finance commitments to be flat for the month. The ABS data also showed that total housing finance by value fell 2.3 per cent, seasonally adjusted, to $20.732 billion. The data reading came after the RBA cut the cash rate in November and December by 25 basis points each time. Commonwealth Bank senior economist Michael Workman said the data showed the cuts had not yet had a significant effect on the market. In a general sense, were still looking at a very gradual pick-up in lending into the housing market as a result of the interest rate cuts, but its quite slow, he said. He said, the data was unlikely to give the RBA another reason to ponder cutting official interest rates. I think the moderate pace of approvals in home loans is probably one of those things the Reserve Bank wouldnt mind. CMC Markets chief market strategist Michael McCarthy said stronger housing figures for December showed investors had responded to the RBAs two rate cuts. Januarys data was simply a rewind and did not signify overall weakness in the market, he said. Funtastic can build on new Lego licence SYDNEY: Kids toy supplier Funtastic has taken over KP Multinational for almost $3 million and picked up a licence to manufacture and distribute some LEGO products. Funtastic said the KP business, which includes a three-year LEGO licence to operate in Europe, Asia and the US, was acquired under an arrangement payable over three years. The minimum effective price will be $2.7 million, Melbourne-based Funtastic said yesterday. Funtastic chief executive Stewart Downs said he was excited to be partnering with arguably the best toy company in the world. Anzac biscuit maker rescued MELBOURNE: Anzac biscuit maker Unibic Australia has been sold to a group that includes its senior managers and local investors, securing the jobs of 170 employees. Modern Baking Company, the consortium acquiring Unibic, said Unibic would be recapitalised, allowing staff to be re-employed and production at Unibics factory at Broadmeadows in Melbourne to resume immediately, ensuring supplies for Anzac Day. The successful rescue of the business is testimony to what can be achieved with co-operation and support of all the companys stakeholders . . . the Modern Bak ery Company said yesterday. Unibic, which is Australias fourth largest biscuit maker, was placed in administration earlier in March. Unibic had been struggling to service a big debt caused by major capital expenditure, while the costs of ingredients had been rising. CUA targets second half boost MELBOURNE: Credit Union Australia says its first half unaudited net profit is down 5.5 per cent but higher revenue and customer numbers should boost second half growth. Australias biggest credit union yesterday reported an interim net profit after tax of $24.6 million for the six months to December 31, 2011, down from $26 million a year earlier. Softer consumer confidence and economic conditions drove down by a third to $701 million the number of new loans settled, CUA said in a statement. But unaudited underlying net profit had jumped 10.9 per cent to $24 million, as interest revenue surged 18.6 per cent driving net interest revenue to $93.3 million. Assets under management grew 2 per cent to a record $9.01 billion, and retail deposits increased by $300 million, or 6.2 per cent, to $6.4 billion. CUA has more than 400,000 customers.