Misc

Watchdog sniffs around Kiwi Income unit deals

The Securities Commission is investigating whether any insider trading took place before the half-year result announced by Kiwi Income Property Trust this week.

Thursday, November 24th 2005

A statement by the commission, which enforces NZX rules, yesterday confirmed the investigation had been requested by the exchange, but gave no details.

However, the Business Herald understands several complaints were made to the exchange by fund managers and investors over trading disclosed on November 18 by Commonwealth Bank of Australia, the ultimate owner of the trust's management company, Kiwi Income Property Ltd.

The trading took place up to November 15 and, on November 22, the trust announced a 15 per cent increase in after-tax profit for the half-year and projected a 5 per cent increase in dividend for the year.

Angus McNaughton, chief executive of Kiwi Income Property Ltd, said he believed the investigation related to units bought by the life assurance arm of CBA, Colonial Mutual Life Assurance.

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Property investors refocus on cash flow

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Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Heartland Bank - Online	6.69
TSB Special	6.74
SBS FirstHome Combo	6.74
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.45
TSB Special	6.49
Westpac Special	6.75
China Construction Bank	6.75
ASB Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
Kiwibank Special	6.79
Co-operative Bank - Owner Occ	6.79
ANZ Special	6.79

TSB Special	6.29
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
SBS Bank Special	6.55
BNZ - Classic	6.55
Kiwibank Special	6.55
Co-operative Bank - Owner Occ	6.55
Kainga Ora	6.99

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50