Successful auctions across Brisbane

first_imgSellers at 11 Apple Blossom Pl, Eight Mile Plains, John and Grace Guarras were very pleased with the result. Photo: Supplied.“We’ve loved the house, the beautiful open house, but we’re at an age where we want to downsize,” said Mrs Guarras.“It has been a lovely home and we’ve always been very fussy with our homes, so the people who move in, they won’t have anything to do!”There’s also been a real buzz around the sale of 140 Kadumba St, Yeronga as a beautiful Hamptons-inspired design on a huge block of land went under the hammer. A stunning day of frenzied bidding, big crowds and brilliant results played out at auction events across Brisbane. Photo: Annette DewIt wasn’t a day for the feint hearted at the city’s auctions as crowd numbers, prices and heart rates all hit peaks.One of the biggest results was reserved for a home in the city’s southern suburbs.The property at 11 Apple Blossom Pl, Eight Mile Plains was always going to be hotly contested, but even the marketing agents were blown away by the final figure.A crowd of approximately 100 were there to witness 17 registered bidders compete for the title ¬ — freehold title, that is.While a bid of $700,000 started the ball rolling, the end price was always going to blitz it and when the hammer came down at $884,000, there were some very happy participants.“It’s a fantastic result,” declared Owen Chen, agent at Place Sunnybank.“It sold for much more than the reserve which was set at $850,000 so the owners are very happy. It was all about team work.”Mr Chen said the Japanese buyers had been to plenty of other auctions prior to today’s event.“They have been following my auctions for a long, long time but every time they have frustratingly lost to other parties, so this time I gave them a pep talk,” he said.Grace and John Guarras were very pleased to see the home sold, and are looking forward to something smaller. 4 Yeoman St, Chapel Hill was another successful sale for the day. Picture: supplied.“Everyone has their criteria when looking for a home, but this one really has it all,” said Josh Klemm, marketing agent at Ray White Metro West.He was proved right when four registered bidders fought it out to reach a sale price of $832,500 for the home.Further west and bargain of the week must surely go to 35/8 Rosegum Pl, Redbank Plains which sold for $160,000 under the hammer.The two-bedroom, lowset, brick unit has ready access to western corridor facilities, and at that price, should prove a canny investment.center_img 140 Kadumba Street, Yeronga sold for $1.91 million. Photo: supplied.More from newsMould, age, not enough to stop 17 bidders fighting for this home5 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor5 hours agoThere were only three registered bidders, but that’s all it took to make the sale.“We are thrilled to declare it sold to a young local family looking to upgrade in the area for $1.91 million,” said Judy Goodger, marketing agent at Place New Farm.“Yeronga is a gorgeous and convenient location for families and time-and-time again we’re seeing huge competition when homes like this come on the market.”Further out of town and 35 Noel St, Hendra had its time in the sun.Jon Finney, agent at Ray White Albion, had five bidders registered for the event and that’s all it took to see a great result.Ray White auctioneer Haesley Cush was very pleased to oversee the auction too.“The bidding bounced from $500,000 to $600,000 and then a couple from around the corner increased the price to $700,000 and it sold,” Mr Cush said.“It was a pretty good result, and once again highlights the market is strong for unrenovated properties. The owner’s had tried to sell it themselves previously, so this shows the power of a marketing campaign and auction that creates competition. It works,” he added.Out in the western suburbs and 4 Yeoman St, Chapel Hill also successfully sold.Set on 673 square metres, this five-bedroom, two-bathroom, two-level weatherboard cottage was pitched as a family home that would have wide appeal.last_img read more

ESMA warns companies to disclose DB assumptions in accounts

first_img“As the discount rate is usually considered a significant actuarial assumption, ESMA expects issuers to disclose any significant judgements that management has made in its determination in accordance with paragraph 122 of IAS 1 – Presentation of Financial Statements,” it said.“In addition, issuers should provide disaggregation information on plans and fair value of the plan assets when the level of risk of those plans is deemed to be different as required by paragraphs 138 and 142 of IAS 19.”The regulator further noted that the financial impact of IAS 19 revisions – which saw changes introduced that affected how companies could smooth expected returns of DB funds – should be disclosed in an additional statement.,WebsitesWe are not responsible for the content of external sitesLink to ESMA’s European Common Enforcement Priorities The European Securities and Markets Authority (ESMA) has warned financial regulators they must guarantee that companies publish the actuarial assumptions underlying their pension liabilities to ensure a consistent approach to reporting across the European Economic Area (EEA).Publishing the European Common Enforcement Priorities for 2013, ESMA chairman Steven Maijoor noted that a consistent approach was important to allow the accuracy on which investors relied.“Considering the focus on asset quality in the financial sector, listed financial institutions and their auditors should pay particular attention to properly measuring financial instruments and the accurate disclosure of related risks,” he added.The regulator said in its statement that it would like to remind issuers of the “importance of disclosing the significant actuarial assumptions” used to calculate the present value of any defined benefit (DB) obligations incurred by the company.last_img read more

Danske Bank to sell Lithuanian pensions business to Swedbank

first_imgThe number of pension providers in Lithuania is set to shrink to five following Danske Bank’s decision to sell its pensions business to Swedbank.Yesterday, Danske Bank signed an agreement with Swedbank investicijų valdymas to transfer, for an undisclosed amount, 100% of its shares in Danske Capital Investicijų Valdymas, its Lithuanian pension fund management company.The takeover, pending approval from Bank of Lithuania, is expected to be completed by the third quarter.Danske Bank noted on its website that the planned company shareholder change would occur at no cost to its pension fund participants, and have no effect on the number of pension fund units or unit values. The sale marks part of Danske Bank’s Baltic strategy to focus on corporate and private banking.In March, Lithuania’s Competition Council approved Danske’s transfer of its retail banking services to Swedbank, a transaction completed earlier this month.Last month, Danske Capital sold its Estonian pensions business to LHV Varahaldus.For Swedbank, the acquisition will strengthen its position as Lithuania’s biggest pensions provider.As of the end of March, according to Bank of Lithuania data, its five second-pillar funds had in total 745,192 members, a market share of 38.85% and assets of €745m (34.63%).Danske, the smallest of the providers, had respective shares of 1.75% and 3.29% in its four funds.Danske, unlike Swedbank, is also active in the much smaller third-pillar sector, where it runs a single high-equity fund.This had, as of the end of March, assets of €1.7m, or 2.84% of the total, and a membership of 1,371 (2.84%).The transaction represents a further consolidation in Lithuania’s pensions sector.In 2014, INVL Asset Management, part of the Invalda Group, acquired the pensions businesses of MP Pensions Funds Baltic, as well as 100% of Finasta Asset Management, including the latter’s pension funds.Recent results in the Lithuanian pensions sector have been unspectacular, with the 21 second-pillar funds recording an average nominal return of -1.18% year to date, while the 12 third-pillar funds returned -1.22%.Despite the recent losses, second-pillar assets increased by 4.8% year on year to €2.1bn and membership by 4.5% to 1.22m.The asset growth was boosted by this year’s increase in overall contributions.While the base rate remains unchanged at 2%, the 2015 additional members contribution of 1%, matched by a state contribution of 1% of the previous year’s average salary, both increased to 2%.last_img read more