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Unusual activity spotted in Heartland Bank Ltd

Heartland Bank Limited’s PPOH level is currently below zero meaning that energetic or technical traders might be very carefully monitoring the indicator to see if the posture is pointing to the stock as a sell.

Heartland Bank Limited has a current ROA of 1.60. This is a profitability ratio that measures net income generated from total company assets during a given period. This ratio reveals how quick a company can turn it’s assets into profits. 

A higher ROA compared to similar companies in the same industry, would suggest that company management is able to effectively generate profits from their assets. Similar to the other ratios, a lower number might raise a cause for concern.

Another key indicator that can help investors determine if a stock might be a quality investment is the Return on Equity or ROE. Heartland Bank Limited (HBL.NZ) currently has Return on Equity of 11.43.

ROE is a ratio that measures profits generated from the investments received from shareholders. Heartland Bank has a high ROE, which typically reflects well on management and that the company is running well at a high level. 

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Optimus Group announces IPO

The company plans to offer a total of 1,611,200 common shares.

Optimus Group Co Ltd announces initial public offering (IPO) on the Tokyo Stock Exchange (TSE) on December 26, 2017.

The stock will begin trading on the TSE under the symbol “9268.”

In its initial public offering, the company plans to offer a total of 1,611,200 common shares, of that 270,600 will be newly issued shares and 1,340,600 will be privately held.

The company says the nominal offering price as of filing date of Registration Statement is 1,710 yen per share with total offering amount to be 2.76 billion yen, and the fixed offering price to be announced at a later date.

If the offering price is achieved and the allocation fully subscribed, the group will realise approximately 35 million NZ dollars.

Nomura Securities Co Ltd will be underwriting this offer.

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Heartland reveals Q1 disclosure statement

Heartland Bank plans to raise up to approximately $59 million at $1.70 per share in a discounted rights offer to shareholders to help fund an expanding loan book, which increased at an annual pace of 16 per cent in the September quarter.

Heartland will sell shares at $1.70 apiece through a 1-for-15 pro rata rights issue, which it plans to use to help fund credit growth and maintain a healthy balance sheet.

Furthermore, chief executive Jeff Greenslade stated that, “Given the size of the offer and the intended use of proceeds – which is to support continued strong asset growth over time – Heartland did not consider that underwriting provided value for shareholders.”

The unaudited net profit after tax for Heartland was $16 million for the three months ended 30 September 2017, an increase of 12 per cent from the corresponding three-month period in 2016.

The result was driven by continued growth in net finance receivables across all divisions. Net finance receivables grew $138 million to $3,684 million, which equates to 16 per cent annual growth.

Heartland expects underlying asset growth to continue during the remainder of the 2018 financial year, and is pleased to reaffirm its forecasted range for the 2018 financial year of $65 million to $68 million.

 

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Tesla posts a record quarterly loss

Tesla posted a NZ$895.9m loss in the third quarter as it spent heavily to make up for production bottlenecks to bring in its more affordable Model 3 sedan to market.

Tesla said the bottlenecks in the production of the Model 3 sedan stemmed from its battery module assembly line at its Nevada Gigafactory, where Tesla had to redesign part of the production process.

This has caused a loss of US$3.70 per share, a far bigger decline than what Wall Street had predicted. Analysts polled by FactSet forecasted a loss of US$2.85 per share.

The affordable US$35,000 Model 3 would move Tesla from a luxury automaker into the mainstream. 

Tesla chief executive Elon Musk promised that the Model 3, which has a waitlist of 500,000 potential buyers, would be simpler to make than Tesla’s previous vehicles. However the company produced only 220 Model 3s in the third quarter, far fewer than the 1,500 Musk promised.

And while some customers may be annoyed by the delays, they’re not necessarily losing faith in Tesla.

“It is disappointing, but I would rather that Tesla make the car correctly and to an optimal finish than rush and turn out a disappointing product,” said Lisa Gingerich, who reserved a Model 3 within minutes.

 

Tesla had other major expenses in the quarter. The company opened 18 stores and service stations worldwide and set up 126 Supercharger stations in preparation for the increase in demand for Model 3 vehicles.

Sales of Tesla’s two other vehicles, the Model S sedan and Model X SUV, increased by 4.5 per cent to 25,915. Tesla said net orders for those vehicles hit a record level in the third quarter, setting the stage for record deliveries in the fourth quarter.

The company says it’s on track to deliver 100,000 Model S and Model X vehicles in 2017, up 30 per cent from 2016.

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McLaren share agreement

Former boss of McLaren Automotive, Ron Dennis has reached an agreement with his fellow shareholders in McLaren Automotive and the McLaren Technology Group to sell his shareholding in both companies.

“I am very pleased to have reached agreement with my fellow McLaren shareholders. It represents a fitting end to my time at McLaren, and will enable me to focus on my other interests. I have always said that my 37 years at Woking should be considered as a chapter in the McLaren book, and I wish McLaren every success as it takes the story forward,” Dennis says.

During his 37 years at McLaren, Dennis led the team to 158 Grand Prix wins and 17 Formula 1 World Championships, managing some of the greatest drivers in the history of motorsport as well as the world-renowned Le Mans 24 Hours race in 1995.

In 2004 Ron announced the launch of McLaren Applied Technologies, which focuses on applying motorsport-bred innovations and technologies so as to improve the performance and product innovation of blue-chip companies in a wide variety of industries.

On December 18th 1980, Denis merged Team McLaren (as it was then known) with his own company, Project Four, to form McLaren International, then valued at £3 million. Fewer than 100 people were employed by the new company at that time.

“Perhaps my greatest satisfaction is the Formula 1 team’s outstanding racing safety record, which is a tribute to the dedication and efforts of hundreds if not thousands of talented and conscientious employees whom I have had the privilege of leading,” he says.

McLaren Group is now valued at £2.4 billion, and has reached a combined turnover in 2016 of £898 million – employing more than 3,400 people.

From now on Dennis plans to consult for various companies and work with the UK Government’s Ministry of Defence Innovation Advisory Panel.

“Now that my time at McLaren has come to an end, I will be able to involve myself in a series of other programmes and activities, especially those focussed on public service,” he said.

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Dennis severing ties with McLaren

Ex McLaren-boss, Ron Dennis is selling his shareholding of the business.

The deal, which totals £275m sale is due to be announced this week and will mean that the two arms of the company will be combined.

Dennis was put on leave last December after a legal battle with his fellow shareholders. He has since moved to join the Ministry of Defence’s Innovation Advisory Panel.

The business man has been the boss of McLaren for 35 years, however in recent years, his relationship with fellow investors has soured.

However, the recent performance of the F1 team cast a shadow over the entire McLaren brand, and relations between Mr Dennis and his fellow investors – Mansour Ojjeh, his long-term business partner, and Mumtalakat, the Bahraini sovereign wealth fund – soured badly.

“I am disappointed that the representatives of TAG [Mansour Ojjeh] and Mumtalakat [his business partners] have forced through this decision to place me on gardening leave, despite the strong warnings from the rest of the management team about the potential consequences of their actions on the business,” Mr Dennis said in a statement last December.

“Ultimately it has become clear to me through this process that neither TAG nor Mumtalakat share my vision for McLaren and its true growth potential.

It was unclear on Thursday night whether Mr Ojjeh and Mumtalakat are buying Mr Dennis’s stake or whether it is being sold to a third party.

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