SP AusNet said about 3,800 customers in Australia’s eastern Victoria state are without electricity because of a bushfire. It remains unsafe to access the area around the fire in East Gippsland, Victoria, Joe Adamo, a spokesman for the company, said by phone today from Melbourne. The company aims to install temporary generators by 6 p.m. local time tonight, he said.
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Gan Pin Pin has been appointed CFO wef Jan 14
Work experience: Group financial controller, SP Corporation Ltd; senior finance manager, Tuan Sing Holdings Ltd
SP AusNet says it has posted a 15–25% increase net profit after tax for HY2011, driven mainly by a favourable tax position.
The tax deductions were arrived at after completion of SP AusNet’s tax returns on 30 September 2010.
The favourable movement in income tax expense amounts to $28 million and includes:
SP AusNet says it filed its defence and counterclaim today with the Supreme Court of Victoria concerning the Feb 7, 2009, Black Saturday bushfire known as the Kilmore East fire.
SP AusNet is the defendant in legal proceedings.
The defence denies that SP AusNet was negligent. SP AusNet alleges that its conduct was at all times reasonable, in compliance with technical regulations and reasonable in light of economic regulations applicable to SP AusNet.
Boediman Gozali (alias Tony Wu) has been appointed MD/CEO wef Aug 1
Work experience: Chairman/MD, Bestway Investment Asia Pte Ltd; chairman, Sanya Summer Mall Department Store Ltd; president director, PT. Indonesia Prima Property, TBK
Thinly-traded SP AusNet (X04.SG) below $1.00 for first time in five sessions, off 3.4% at $0.985, as class action lawsuit against unit SPI Electricity weighs, says Dow Jones.
Company blamed for allegedly breaching safety guidelines, causing bushfire in Australia’s Victoria state in 2009, which destroyed more than 1,200 homes.
SP AusNet has expressed disappointment with the Australian Energy Regulator’s (AER) draft price determination for Victoria’s electricity distribution businesses for 2011-2015, released last Friday.
In its draft determination, the AER has reduced SP AusNet’s proposed capital expenditure by 30.5% and operational expenditure by 24.2%. SP AusNet says this reduction, if endorsed in the AER’s final determination, would significantly limit the company’s plans to secure, maintain and grow its network to meet anticipated consumer demand over the next five years.
SP Corporation, the industrial and engineering services group, says it posted a 13% y-o-y drop in revenue to $106.3 million for the full year ending Dec 12 2009 (FY2009) as all units reported lower revenue. Despite lower revenue and higher allowance for doubtful receivables, profit for the year was 42% higher at $2.18 million compared to FY2008.
Jobs credit grant by the government, cost-saving measures undertaken by the group coupled with lower legal costs also contributed to the stronger earnings.
William Liem has been appointed MD/CEO wef Dec 1
Work experience: ED/CEO, Tuan Sing Holdings Ltd; deputy financial controller/finance director, GT Asia Pacific Holdings Pte Ltd/Habitat Properties Pte Ltd
Microsoft Office 2008 for Mac Service Pack 2 comes at no cost and will be relatively easy to deploy. That said, end users will find little in the way of improvements to the productivity suite, with the biggest changes focused on PowerPoint.
– Microsoft Office 2008 for Mac Service Pack 2 is a no-cost upgrade that provides only modest improvements to the productivity suite.
Microsofts service packs for Office are primarily evolutionary, and this one is no exception. IT managers should have little problem deploying the SP; indeed, during m…
Microsoft Office 2008 for Mac Service Pack 2 is a facelift focused on the PowerPoint component of the productivity suite. In this version, Microsoft Word for Mac gets a bug fix for a formatting problem that occurred when numbered lists were copied into another document, and Entourage for Mac #151the suite’s much-maligned e-mail client #151gains automated features for connecting to Mobile Me and Windows Live Hotmail accounts. None of the Entourage changes pull the product out of the ditch it’s in, however #151it’s still an inferior version of Outlook. Here is a look at some of the tweaks made to the Microsoft tools designed to work on the Apple platform.
By Cameron Sturdevant
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