Freedom Foods Back from the Brink
Freedom Foods has successfully completed a $265 million recapitalisation that it hopes will ensure the ongoing viability of the business and pay down debt following its near collapse late last year.
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Mystate Limited
MyState Limited (MYS) is the non-operating holding company of a diversified financial services group listed on the ASX and is a leading provider of banking, trustee and wealth management services to customers across the country through our retail brands – MyState Bank and TPT Wealth.
MyState Limited was formed in September 2009 following the merger of MyState Financial, an authorised deposit-taking institution, and TPT Wealth, a trustee and wealth management company. On 1 December 2011, MyState Limited acquired The Rock Building Society (The Rock) based in Central Queensland. On October 6, 2014, following authorisation from the Australian Prudential Regulation Authority (APRA) MyState Financial changed its name to MyState Bank (MyState). On 30 September 2015 MyState Bank received regulatory approval to fully transfer all of the business undertakings of The Rock into MyState Bank Limited.
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News
Are The Banks Perfume Or Poison To Investors?
Assuming the lack of a bad debt apocalypse, the big banks certainly look cheap. But the smaller banks look even cheaper, which suggests there’s better value at the minnow end which is more oriented to mortgages than business lending.
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Banks In Better Shape For Virus Than For GFC
Analysts argue Australia’s banks are in a much better position to weather this storm than they were in 2008, and have been oversold on that basis.
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Time To Bank On The Small Fry?
Not everything’s going right for the smaller banks, but the findings of the Hayne Royal Commission present a perfect opportunity to woo discontented Big Four customers. Should investors follow?
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