NSW Treasurer declares the Decade of the Builder

Welcome to the Decade of the Builder.
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This boom period of new home and infrastructure construction is going to go down in the annals of Australian history as the moment in time that building became the new driver of the economy, following on from sheep, tourism and mining, NSW Treasurer Dominic Perrottet announced.

“If you look back in the future at this time, it will be seen as the Decade of the Builder,” Mr Perrottet said at the rooftop topping-out ceremony marking another of Sydney’s new apartment buildings.

“It’s construction that’s creating so many jobs today and not just for builders, but chippies, electricians and all the trades who work on a project like this and on all the infrastructure projects that are currently underway in NSW. And then when they’re finished, the after-effects continue on to create more jobs in those areas that have been opened up.”

He was speaking at the traditional hoisting up of a tree to the top of the tallest building on a site, this time an eight-level block that’s one of the six buildings under construction to make up developer Mirvac’s The Finery complex, providing 223 apartments and terrace homes in Waterloo.

On the former site of the HPM Legrand factory, the buildings will be clustered around a lushly landscaped 1040-square-metre central courtyard with 1200 square metres of boutique retail and food outlets, and also have a rooftop terrace with a pool.

But with last year chalking up a new record of 72,000 building approvals in the state, the delivery of such projects will continue creating employment into the foreseeable future, Mr Perrottet predicted.

“Forty-eight per cent of Australia’s growth is from NSW and an amazing nine per cent of jobs here have been created by construction,” he said. “The building has also been very diverse which assists us in continuing to grow strongly and avoid downturns such as happened with the mining industry.” Related: Experts predict build-to-rent revolutionRelated: First-home buyers queue for apartmentsRelated: Mirvac unveils Marrickville hospital plans

A major factor in the newly-minted Decade of the Builder has been a new period of collaboration between government and private industry, said Mirvac CEO and managing director Susan Lloyd-Hurwitz.

“We like to work with government at all levels and it’s great to see how government and the private sector are working so closely together to deliver outcomes, rather than with the old adversarial approach. This way, everyone wins.

“We’re building homes where people want to live, close to the city and important infrastructure, and we are creating jobs, not just on site, but all the way down the supply chain. That’s a benefit that has played a major role in making the NSW economy the strongest in the country.”

Across NSW, current Mirvac projects from Green Square to Redfern, Sydney Olympic Park to St Leonards, Schofields to Gledswood Hills, have created hundreds of jobs for both experienced tradespeople and apprentices directly, she said, and thousands more for subcontractors, manufacturers, the professional service industry and suppliers.

Mirvac head of residential Stuart Penklis said such construction was helping create fresh excitement in new areas of Sydney. “This is a transformation of this area into a very welcoming and sophisticated village with beautiful architecture and landscaping, new roads and new laneways, which speaks to the history and heritage of the site,” he said.

“The influx of more people is having a flow-on effect, creating more retail and employment opportunity so that it is fast becoming a destination in its own right.”

The completion of The Finery is expected mid-2018.

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Out-Of-Home advertising market tipped to hit $1 billion in 2018

Out-Of-Home advertising, which includes billboards and street marketing, is expected to be worth more than $1 billion for the first time in 2018.
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The growth will largely come on the back of the rise in digital outdoor marketing, which is likely to account for 55 to 60 per cent of the entire OOH market’s revenues by 2020, Dentsu Aegis Network’s OOH advertising agency Posterscope managing director Bryan Magee predicts.

This will see the spend for advertising in this sector increase by more than 7 per cent year-on-year from $963 million in 2017 to $1.03 billion in 2018.

While this represents a slowing in digital outdoors spends, it’s due to a maturing of the market – the take up has been particularly strong in Australia.

“This, combined with limited audience measurement and verification for digital, is a significant challenge, as advertisers are requesting more accountability to justify increased investment,” Mr Magee said.

Digital Out-Of-Home has become particularly attractive as it allows more revenue per site – for instance, with multiple advertisements per billboard.

Nowhere is this more apparent than in the shift in street furniture.

The City of Sydney is expected to put out a multi-million dollar tender for its street furniture, requesting the provider to consider digital panels and free public WiFi. This is estimated to be worth $30 to $35 million a year – or about $500 million.

Advertising agency JCDecaux, which currently holds the City of Sydney contract, is fast digitising its Yarra Trams and Telstra agreements.

Mr Magee said this would be a “pivotal” moment for DOOH.

In particular, auto, finance, retail, fast moving consumer goods, government organisations and telecommunication companies have been interested in DOOH advertising, particularly when the marketing is price sensitive and needs updating.

Another big change for the OOH industry will be programmatic advertising – with automation expected to ramp up by 2020, Mr Magee said.

“While the total media market is set to face more headwinds over the next 18 months, OOH will continue to grow,” he said.

“Increasing population growth and the continued urbanisation of cities will give OOH a point of difference over other channels whose audiences are struggling.” !function(e,t,s,i){var n=”InfogramEmbeds”,o=e.getElementsByTagName(“script”),d=o[0],r=/^http:/.test(e.location)?”http:”:”https:”;if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement(“script”);a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,”infogram-async”,”https://e.infogram南京夜网/js/dist/embed-loader-min.js”);

The first Australian OOH automated proposal platform was announced by the Outdoor Media Association in December, which is expected to make it easier for advertising agencies to design and implement campaigns.

OMA general manager Tess Phillips said OOH advertising would continue to play an important role in providing utility, including mobile charging ports and WiFi, but also emergency services as populations became more urbanised.

“Cumulatively, since 2010, the national audience for OOH has grown by 23 per cent versus 14.9 per cent population growth for the same period,” she said.

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Capitals not scared of Fire but sweating on Nat Hurst

Keely Froling has declared the Canberra Capitals aren’t scared of the Townsville Fire despite the prospect of losing captain Nat Hurst for the WNBL showdown.
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Hurst will be given until game day to prove her fitness for the Townsville clash as she continues to battle a middle ear infection.

The Capitals will pay tribute to the “true believers” when they wear a special edition members jersey for their game against Townsville at the National Convention Centre on Thursday night.

The jersey bears the names of every club member, and Capitals coach Paul Goriss has called for them all to be on hand come Thursday because there is no “bigger game than Townsville coming into town”.

The Capitals will need every bit of support they can muster if they are forced to face the championship contenders without their in-form captain.

Hurst trained for 30 minutes on Tuesday morning and had another light session with the team in the afternoon but her health remains a “day by day” proposition.

Hurst missed Sunday’s win over Adelaide and she won’t be rushed back into the line-up if she isn’t fit with another game against Dandenong looming on Saturday.

“It’s just up to her with how she feels on the day of the game. We made that decision on Sunday that she wasn’t ready to play so it’ll be another game day decision for her,” Goriss said.

“She was a bit pale, a bit dizzy and a bit underdone. You don’t want to put a player’s health in jeopardy, especially when it’s a big game on the line for us with our win streak going.

“Day by day she is seeing the doctor, she’s got another follow up [on Wednesday]. Just as long as she’s got her balance right, she’s not dizzy and she can perform, she’ll suit up and play.”

If Hurst is ruled out the Capitals boast a readymade replacement in 19-year-old point guard Maddison Rocci, who fired in her first start for Canberra against Adelaide.

Goriss says every member of the roster needs to step up if Canberra are to make it four wins on the trot as they come up against a team boasting “depth all over the court”.

The Fire boast superstars in Suzy Batkovic and Cayla George and are a genuine title threat but Froling isn’t the slightest bit worried as Canberra look to avoid the wooden spoon.

“They’re a great team but we’re going in to win,” Froling said.

“We’re not scared and we have nothing to lose so we want to go out there and get as many wins as we can before the season ends. We’re not scared of Townsville at all and we want to win.

“Right now we’re just going in to win and trying to upset other people’s seasons so that’s our goal right now. We want to get as many wins as we can at the end of the season.

“Obviously confidence is a big thing and you learn how to win. It’s a habit so now we’ve got out of our losing habit and we’ve put that behind us and now hopefully winning is our habit.”


Thursday: Round 11 – Canberra Capitals v Townsville at National Convention Centre, 7.30pm.

Saturday: Round 11 – Dandenong Rangers v Canberra Capitals at Dandenong, 6.30pm.

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No joke, this LOL Surprise Doll could be a popular Christmas gift

No joke, this LOL Surprise Doll could be a popular Christmas gift Lexie Pigot, 8, is loving the new LOL dolls, which are a hit amongst children this Christmas season. Picture: Christine Ansorge
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Amelia, 8, and Lily Harris can’t wait to unwrap their LOL surprise dolls.

Lexie Pigot, 8, is all smiles as she selects a LOL doll at Toyworld. Picture: Christine Ansorge

A toy from the Paw Patrol range.

TweetFacebookIT’S a magical time of year –for more reasons than one.

It’s the end of the school year and time for youngsters to ensure Santa Claus knows exactly what they want to open on Christmas morning.

Top of the list for many across the world is a LOL Surprise doll.

Their popularity stems from the online craze known as “unboxing”, which involves people filming themselves opening presents or pristine packaged goods and then posting the video online.

But the surprise dolls are much more than that –unwrap layer after layer to reveal a doll and a number of accessories.

Toyworld Warrnambool owner Peter Sedgley said the LOL dolls were no laughing matter.

In fact they are selling like hotcakes, with many youngsters keen to get their hands on the collectable items.

“They’ve been popular all year,” Mr Sedgley said.

“I think it’s the element of surprise.”

Other popular toys this year include Hatchimals – creatures which break their way out of their own egg – the Paw Patrol range andthe PJ Masks range.

Rounding out the top five is Lego with the City range in high demand, according to Mr Sedgley.

That is closely followed by the Star Wars Lego range.

The Standard, Warrnmabool

What do you think of the Brumbies’ old school jersey?

ACT Brumbies skipper Sam Carter, and fullback Tom Banks.Photo: Jamila ToderasThe ACT Brumbies have jumped into a Super Rugby time warp to go back to the future for their new jersey, hoping a tribute to the inaugural playing strip will give fans a reason to reconnect with the club.
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The Brumbies will wear a jersey next year which will be almost identical to the one the players wore in the first season of Super Rugby in 1996.

It’s a massive shift from the club’s direction two years ago when an all-blue, non-traditional strip caused major fan uproar because the 2016 jersey lacked any links to Brumbies history.

But with two years of off-field drama behind them, the Brumbies are hoping fans re-engage with rugby union in the capital.

“I like it. It’s traditional, much like the Brumbies original jersey,” said coach Dan McKellar.

“I think it will be popular amongst the fans, it’s certainly popular with the boys. There was one year there when we went away from our traditional type of jersey.

“If we were honest, the fans weren’t all that rapt with it. So it’s nice to go back to a jersey that both the players, staff, organisation and community appreciates and feels a part of.

“We’ve got a proud history and we want to make sure we always pay respect to that.”

The home jersey will be predominantly white, with blue across the chest and a deep yellow stripes to pay tribute to the ACT’s traditional colours. The alternate strip will be an inverted model of the main jersey.

The Brumbies launched the new look on Tuesday, with the deep yellow stripes replacing the gold design of last season.

The ACT Brumbies jersey for the 2018 Super Rugby season, left, next to a heritage jersey from 1996. Photo: Chris Dutton

“It’s a bit of back to the future. It’s a very prestigious club and has a long history, going back to the original jersey will bring a lot of people out to support the games,” said Sam Carter.

The Brumbies found off-field stability this year under the guidance of chief executive Michael Thomson, but Australian rugby’s reputation was battered and bruised when Rugby Australia axed the Western Force.

Crowd numbers dropped at all Australian games and the five Australian teams lost a combined 26 trans-Tasman derbies against New Zealand opponents.

“All the supporters in Canberra are very passionate in general, I think with this jersey and what it represents with everyone who’s worn it before, we’ll uphold that next year,” Carter said.

“Every time we put the jersey on, we represent everyone who has ever played. It gets that feeling of nostalgia of what people remember about the Brumbies and what we can do in the future.”

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Rodney Hogg talks Australia’s Ashes success at the Jack Newton Celebrity Classic

Rodney Hogg talks Australia’s Ashes success at the Jack Newton Celebrity Classic SHOT: Former Australian cricketer Rodney Hogg at The Jack on Tuesday. Picture: Jonathan Carroll
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SWING: Jack Newton in action during round one of his own event at Crowne Hunter Valley. Picture: Jonathan Carroll

DRESSED UP: Jack Newton Celebrity Classic defending champion Matt Stieger. Picture: Jonathan Carroll

TweetFacebook Jack Newton Celebrity ClassicPictures: Jonathan CarrollRodney Hogg may not have scored a century at The Jack, but he still delivereda few cheekysledges off the course.

In the wake of Australia regaining the Ashes this week the former Test paceman reckons he strucksomeof his golf shots at Crowne Hunter Valley on Tuesday better than many of the touring English batsman have beenhitting cricket balls.

Throwback: Remember The Jack in 2016?

“Malan’s played alright, Stoneman’s played pretty well, but I probably hit them a bit better than Moeen Ali,” Hogg said with a wry smile at the bar post round one.

It was all in the spirit of the annual Jack Newton Celebrity Classic,in the midst of edition No.39, with Hogg among other past sport stars such as Sir Ian Botham, professional golfers dressed up like pop star-turned-basketballer Jackie Moon, andtournament patron Bob Hawke, whocelebrated his 88thbirthday earlier this month.

Read more:Jack Newton Celebrity Classic results, Day 1

Reflecting on the urn returning Down Under, Jack debutant Hogg said the current bowling attack was one of the best ever to wear the Baggy Green cap while the visitors are struggling.

“Theyhaven’t been up to speed and we’redeveloping into a good side,” Hogg said.

“It’s one of the best attacks we’ve ever had just about. Lyon plus the three quicks [Starc, Hazlewood, Cummins].”

Hogg, who took 41 wickets in the Ashes of 1978-1979, now rates Mitchell Starc as one of the country’s top-three left-arm fast bowlers in history.

He believes the hosts can win bothupcoming Melbourne and Sydney matches and go onto complete the third 5-0 series whitewash against the Poms at home since 2006-2007.

Play at The Jack continues with round two on Wednesday afterthe previous night’s traditional sponsordinner, whichhelps toraise funds for junior golf and diabetes.

Elsewhere andformer US PGA tour player Nick Flanagan went on a birdie blitz to shoot eight-under on Tuesday and the Newcastle golfer sharesthe leadof the final Australasianqualifying school event for 2017.

The 33-year-old posted 10 birdies and two bogeys in the opening round to sitalongside Fijian Sam Lee at Moonah Linksin Melbourne.

Parramatta-based Novocastrian Aaron Townsend (-4) is four strokes back and tied for fifth. Fellow Hunter pair Leigh McKechnie (even) and Nathan Green (+1) were also in the mix at the four-day tournament.

Why you shouldn’t call in the fumigators this summer

Summer in Australia conjures images of long days lounging at the beach, slurping dripping icy-poles, and discovering spiders on the veranda.
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Homeowners’ first instinct may be to pick up the phone and call the fumigators.

But many people are often disappointed to find an army of eight-legged fiends have returned to the battle scene within a few weeks of spraying with insecticide.

Sam Yehia, owner of Sydney Best Pest Control, says that this disappointment is usually due to a lack of information provided to customers.

“Customer service is important. Some technicians turn up to [a customer’s] door and don’t explain to the customer what they are going to do… and afterwards the expectations. It’s pest control, not pest eradication,” Mr Yehia said.

“If you can’t spray a spider, you can’t kill it. When it come to funnel webs, wolf spiders, or mouse spiders – ground spiders – you won’t ever completely get rid of them with just spraying because they roam around hunting.”

Macquarie University post-doctoral researcher Lizzie Lowe says spraying gardens with broad spectrum insecticide destroys the eco-system, allowing only the “hardiest” of pests to flourish with unlimited resources.

“People may want to eradicate everything in the backyard, but you shouldn’t actually want every insect in your garden dead. You want to have the good guys to help control the bad guys… so you don’t have these massive outbreaks of creatures,” Dr Lowe said.

Black house spiders and cockroaches are the most common critters to return after fumigation, according to Dr Lowe.

Both Mr Yehia and Dr Lowe agree that, generally, spiders do more good than harm in the backyard.

“Spiders eat flies, moths and flying insects that could bother you in your garden, or juvenile forms of these bugs like caterpillars who are eating your plants,” Dr Lowe said.

“I think a lot of people think that every spider is out to get them. In Australia, we have over 8000 species of spider and only two that will kill you, and they haven’t killed anyone in 40 years.

“A lot of people who report spider bites are often misdiagnosed and haven’t actually seen a spider. In the case of the white-tail spider there is no evidence that they have a flesh-eating venom; usually these wounds are bad because of bacterium that comes in afterwards.”

Mr Yehia recommends dealing with spiders without upsetting their natural habitat by cleaning the gutters, and changing white outdoor lights to fluorescent lights to avoid attracting spider-food like moths and mosquitoes.

To keep redback spiders away from children, he suggests putting their toys in a plastic bucket of water overnight. Homing two chickens in the backyard to hunt and eat ground spiders, like funnel webs, also prevents against infestations without disrupting the eco-system.

If you are going to spray for spiders in your home, he says to “avoid spraying bushes or the fence line to avoid [unnecessarily] harming the spider life”.

When it comes to redback spiders, though, Mr Yehia says it’s important to spray for them in newly built homes, as they usually “come from brick work”.

“If you let them build up too much, they can go into the weep holes of the house, up into the roof, and back into the house,” he said.

“The most important thing is that, whoever does the pest control, that the roof gets dusted – most insects, whether they are cockroaches or spiders live in the roof.”

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Christian Porter, the country’s new top legal officer

Minister for Social Services Christian Porter with Lachlan and Minister for Revenue and Financial Services Kelly O’Dwyer with Olivia pose for photos on the front steps after the swearing-in ceremony at Government House in Canberra on Tuesday 19 July 2016. Photo: Alex Ellinghausen Portrait of Minister for Social Services, Christian Porter, in his office at Parliament House in Canberra on Tuesday 19 December 2017. fedpol Photo: Alex Ellinghausen
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Not so long ago Christian Porter received a wooden spoon from Tony Abbott for his less than record-breaking performance in Pollie Pedal, the former prime minister’s annual event that couples raising money for charity with daily, gruelling 120-kilometre bicycle rides.

But the 47-year-old West Australian is the winner in today’s ministerial reshuffle with his appointment as Attorney-General, a job he inherits from George Brandis, and continues his rapid rise through the ministerial ranks since his election as the member for the Perth seat of Pearce in 2012.

The graduate of the London School of Economics, public prosecutor, Star Wars tragic and one-time contender for Cleo magazine’s eligible bachelor of the year, came to federal politics after serving as treasurer and attorney-general in Liberal premier Colin Barnett’s government.

Until Tuesday Mr Porter was social services minister, a $165-billion-a-year portfolio.

On Wednesday, he will be sworn in as the country’s chief legal officer, albeit over a department that has changed since Peter Dutton successfully pushed for the creation and control of a super security Home Affairs department.

As Attorney-General, Mr Porter will retain power over issuing ASIO warrants as well as responsibility for the government’s foreign interference legislation.

The aftermath to the now-concluded royal commission into institutional child sexual abuse will follow Mr Porter from his previous portfolio to his new one.

As social services minister Mr Porter was the architect of the redress scheme for survivors, to which he is trying to get all states, territories and institutions to sign up.

In an interview with Fairfax Media on Tuesday, Mr Porter said he was open to the commission’s recommendation that the seal of confession be broken in cases of child abuse.

“My personal tendency is to favour the protection of children over other values,” Mr Porter told Fairfax Media.

He says although the public’s instinct is the system must be improved, how to improve it is a far more difficult task.

“There was clearly regulatory failure. There were law enforcement issues. There’s a strong leadership role for the Commonwealth but the Commonwealth’s powers are not unlimited,” he says.

“Is it the role of the state or the Commonwealth to legislate? These things would require enormous amounts of time and scrutiny. You have to have that debate in the community because it’s not just members of religious organisations that place value on religious processes.”

Mr Porter wants religious organisations to consider the commission’s recommendations, although comments made by senior Catholic leaders last week indicated they were not prepared to ask the Holy See to make celibacy voluntary for priests or break the seal of confession.

“Trying to get the right balance in decision-making in terms of children is very, very difficult. Clearly we have got that balance very wrong,” he told Fairfax Media.

The Law Council of Australia congratulated Mr Porter on his appointment.

“As a former senior prosecutor for the Western Australian Department of Public Prosecutions, and later state attorney-general, Mr Porter well understands the importance of the rule of law and the steps, which are not always popular, that need to be taken in its defence. We look forward to engaging constructively with Mr Porter on myriad issues in 2018, from legal aid and court resourcing to the careful balancing of important human rights and freedoms,” the council’s president, Fiona McLeod, said.

Mr Porter leaves the social services portfolio just as the 2020 target for the completion of the National Disability Insurance Scheme is rapidly approaching.

His final act as minister is appointing a group of organisations, led by Ernst and Young, to oversee the employment of the estimated 60,000 additional full-time staff who will be needed to provide services under the scheme.

By the time the scheme is fully operational in 2020, it will employ about 162,000 workers.

Mr Porter says disability care is a career young people in particular should consider.

“There’s a moral virtue in caring for someone but if you’ve got a job in care you can be guaranteed work forever – and usually forever,” he said. iFrameResize({resizedCallback : function(messageData){}},’#pez_iframeTT’);

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Turnbull government reverses course on climate change policy

The Turnbull government will reverse course and allow businesses to buy overseas carbon credits to meet Australia’s emissions reduction targets, a policy long questioned by climate experts and once labelled “dodgy” by Tony Abbott.
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Backed by industry and some climate change observers, the move allows big businesses to purchase emissions reductions in other countries – most likely at lower prices – to offset their own carbon production.

Environment and Energy Minister Josh Frydenberg on Tuesday gave “in-principle” support to joining 60 other nations – including Canada, New Zealand, Japan and South Korea – in an international trading market once rules are finalised after 2020.

“Our thinking is to find the lowest-cost abatement,” Mr Frydenberg said on Tuesday. “When it comes to helping the environment, it doesn’t matter if you’ve reduced a tonne of CO2 here in Australia or in another country.”

That differed from the view given by Mr Abbott in 2011, while opposition leader, that overseas permits involved money “going offshore into dodgy carbon farms in Equatorial Guinea and Kazakhstan”.

Mr Abbott’s views were backed by the Greens on Tuesday, whose climate spokesman Adam Bandt accused the government of “outsourcing” climate policy by allowing firms to buy “dodgy permits from pig farms in China”.

Many climate change campaigners have expressed concern about Australia shirking its domestic obligations in favour of cheaper overseas permits that might be fraudulent or involve double-counting of reductions.

And in a report last week, the independent Climate Change Authority recommended against Australian companies using international credits to meet domestic obligations, arguing it would slow down our transition to a lower-carbon economy. It cited a submission from energy giant AGL stating such a scheme would “effectively defer Australia’s own decarbonisation”.

Kate Mackenzie, a director at the non-profit Climate KIC and research fellow at the Centre for Policy Development, said buying foreign credits was a good idea but should not substitute reducing electricity emissions.

“If it’s seen as being an easier or a cheaper way of meeting our emissions reduction targets, that poses the risk that the really necessary policy work won’t be done,” she told Fairfax Media.

The government will also wait until the market rules of the Paris Agreement are finalised to decide whether other countries can purchase Australia’s mostly land-based carbon credits, fearing it could drive up the cost of domestic abatement. There is no guarantee international negotiations will finish by 2020, however, with talks mired in disagreement about how to link various schemes.

International permits will become particularly important for 140 large Australian businesses with facilities that emit more than 100,000 tonnes of carbon dioxide a year. Under the “safeguard mechanism”, these operations will need to keep their emissions below baseline levels or offset them using domestic and, now, international credits.

As part of the climate review released Tuesday, the government flagged those baselines could “increase with production, supporting business growth”, and allowing companies to pollute more as long as they produce more.

Tony Wood, energy program director at the Grattan Institute, said the decision to allow international credits “makes an enormous amount of sense” as a way to put a “safety valve” on the price of carbon abatement, at least temporarily. At present, international permits are significantly cheaper than the cost of abatement domestically under the Emissions Reduction Fund, although overseas credits will likely become more expensive as global demand rises.

Tuesday’s announcement was foreshadowed after the 2015 Paris climate conference, when then environment minister Greg Hunt said international permits would “probably be allowed. Mr Frydenberg, who took over the role after last year’s election, strongly suggested the change would be made when he commissioned the climate change review a year ago.

Labor’s environment spokesman Mark Butler dismissed the review as containing “no significant change” to Mr Abbott’s climate change policies.

Industry groups including the Business Council of Australia welcomed the change-of-heart as a “practical” measure giving businesses flexibility. Peter Castellas, head of the Carbon Market Institute, said it was an “encouraging signal” but there would need to be more input from industry on the detail.

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First criminal charges in NewSat scandal

Adrian Ballintine, the flamboyant founder of failed Australian satellite company NewSat, has been named in a Melbourne court as a “co-accused” after his former tax adviser and business partner was charged as part of a long-running probe by the nation’s corporate watchdog, ASIC.
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Jason Cullen, who provided tax advice to NewSat and was a shareholder and finance chief of Mr Ballintine’s luxury yacht business, has been charged with two counts of creating false invoices in relation to payments worth $275,000.

A Commonwealth prosecutor told the Melbourne Magistrate’s Court on Tuesday that Mr Ballintine was a co-accused in Mr Cullen’s matter. However, it emerged later in the day that charges are still to be served on Mr Ballintine and Fairfax Media understands he may face different charges.

Once a darling of the ASX, NewSat collapsed in 2015 and wiped out $200 million of investor money. Its international financial backers, the US government’s ExIm bank, was owed $280 million and Europe’s COFACE $108 million.

NewSat was hoping to launch Australia’s first privately owned, non-government satellite. It also owned satellite tele-portals which received highly classified US and Australian military communications and were later penetrated by Chinese hackers.

NewSat’s collapse came after Fairfax Media published a series of reports detailing serious alleged governance breaches and conflicts of interest at the company, including controversial payments made to Mr Ballintine’s Gold Coast Cresta Motor Yachts business.

Mr Ballintine, NewSat’s managing director as well as founder, and several other company executives and consultants enjoyed an extravagant jet-setting lifestyle as they travelled the world seeking investor support and contracts.

The firm also had high-level political and diplomatic support, with Prime Minister Malcolm Turnbull in 2012 suggesting the “pretty capable” NewSat could provide satellite services for the NBN Co. Mr Turnbull was shadow communications minister when he made the comment.

Former Labor prime minister Bob Hawke was also enlisted as a consultant by NewSat and awarded a generous share package and a healthy monthly retainer. There is no suggestion Mr Hawke was involved in any wrong-doing in relation to NewSat.

A sensational leaked boardroom video captured the increasingly dysfunctional climate at NewSat as it began to run into financial problems. It showed NewSat’s then chairman, Melbourne businessman Richard Green, and then independent director, former Australia Post deputy chairman, Brendan Fleiter, in a heated disagreement which threatened to become physical over the financial management of the company.

Mr Cullen was in court on Tuesday as the charges were filed. He will appear again in March.

Mr Ballintine, a former Richmond Football Club director, and other senior former NewSat executives, are also facing legal action on another front with receivers from McGrathNicol earlier this year filing a damages claim in the Federal Court seeking $270 million.

The McGrathNicol action alleges Mr Ballintine and Mr Green breached their directors’ duties on several occasions.

Fairfax Media’s reports on NewSat revealed how some of the company’s directors, executives and consultants were also deeply involved with Mr Ballintine’s yacht business either as part-owners or senior managers.

In 2014, Mr Ballintine was awarded a bonus of $1.2 million in addition to his $1 million salary and share options worth $1.15 million when they were vested.

It also emerged that Mr Ballintine used his own NewSat shares as collateral for a private loan despite the company being placed in a trading blackout.

NewSat’s former independent directors, Mr Fleiter, former St Kilda Football Club president Andrew Plympton and Mark Fishwick, became so concerned about the company’s expenditure that they hired former BHP vice president Brendan Rudd to investigate.

Mr Rudd’s conclusion was damning: “I have never seen nor heard of more appalling corporate behaviour than at NewSat”.

Mr Ballintine in 2015 rejected many of Mr Rudd’s criticisms in an interview with leading finance commentator Alan Kohler.

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