THE WORLD'S LEADING FEASIBILITY STUDIES COMPANY
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That mouth-watering deal follows hard on the heels of private equity firm Welsh, Carson, Anderson & Stowe's £350m purchase of Global Collect, the world's premier payment service provider, while the part-nationalized RBS is also in the process of selling its Global Merchant Services unit, which includes the online payments provider Worldpay, for anything up to £3bn.
Leeds-based fraud-prevention company Datacash, which derives about 60% of revenues from the gaming market, gained 5p to 216p on hopes it will soon be swallowed by one of the industry's big boys. Valued at around 14.9 times 2010 earnings, it would certainly be a small mouthful for any cash-rich foreign bidder. Reading across from Visa's acquisition of Cybersource, Datacash's takeout price would be nearer £4 a share.
Datacash has a strong balance sheet and £18m cash in the bank. It recently announced that it will be providing bookie William Hill's UK and international clients with payment processing services.
The event was sponsored by Envirolink Northwest, the Environment Agency, Halliwells LLP and Beever and Struthers.
The first of two keynote presentations was delivered by Helen Hensel, senior surveyor in sustainability team at Drivers Jonas Deloitte who outlined the findings of DJD's Towards a Sustainable Commercial Property Sector report for Manchester City Council.
The hard-hitting report aims to set out a route-map for cutting 41% of CO2 emissions in Manchester by 2020. Suggestions in the report include devising incentives to encourage developers to improve the carbon performance of their buildings, and establishing better tools for measuring and displaying the energy 'scores' for buildings, perhaps with live counters on the outside of premises.
There could also be a Northern Quarter pilot project to test smart meters on buildings and an updated Manchester Guide to Developments.
Paying for green infrastructure could come from a new development levy to raise funds for the council to improve transport, waste and energy facilities.
In the second keynote address of the event, Nick Storer, chief executive of Envirolink Northwest, addressed delegates on the opportunities for businesses and residents in the North West to tap into renewable energy.
The region has the largest potential for wind energy generation in Europe, Storer said, but the UK has fallen behind Denmark, Germany and Spain in the wind turbine manufacturing industry.
Feed-in Tariffs came into effect on 1 April, targeted at smaller-scale wind, hydro, solar and anaerobic digestion projects less than 5MW in size. FiTs offer index-linked payments of up to 41.3p per kWh for generated power and an additional 3p per kWh for exported surplus power.
Payments are guaranteed for a maximum of 25 years and vary depending on the type and size of system used (see table). There is also a potential saving on energy purchased from the electricity supplier.
"The launch of the Feed-in Tariffs is really stimulating the market with farmers wanting to do their bit for the environment," said David Williamson-Jones from Savills. "We've seen really strong interest in small wind turbines and photovoltaic solar in particular.
He says, ‘After the election, the need to cut the nation's increasing debt burden will drive a rush of public sector back-office functions, providing excellent opportunities for companies in the support services sector through outsourcing.’
Outsourcers work on the basis that they will maintain, and even improve service levels, whilst delivering cost savings of up to 30 per cent - an attractive option to a government looking to cut costs.
Those businesses with diverse business models and already strong relationships with government bodies have most to gain. Mcginnis believes Serco and Mitie already have expertise and experience in the public sector and are particularly well placed.
He adds, ‘With the Government under huge pressure to reduce public sector debt, outsourcing back-office functions provides an opportunity to make significant savings without having to cut vital front line public services.’
Meanwhile, urgent action is required to secure the UK's future energy supply with a shortage in power generation capacity looming, along with the need to meet ambiguous European targets on greenhouse gas emissions.
Reports suggest that £200 billion of investment in renewable energy is required in the UK during the next decade to replace dwindling North Sea gas and the imminent closure of old coal and nuclear power plants.
The UK government also has a stated aim of delivering a cut of 18 per cent in greenhouse gas emissions by 2020, compared with 2008. This requires around 30 per cent of the electricity consumed in the UK to come from renewable sources, compared with just 6 per cent at present.
Mcginnis says, ‘Scottish & Southern Energy (S&SE) is strongly positioned to benefit. Renewables already account for over 20 per cent of its overall generation capacity and it is ideally positioned geographically - in windy areas - to help the UK meet its targets.
Specialist engineering and infrastructure planning consultancies such as RPS should also grow. RPS has a variety of expertise in different areas including feasibility studies, environmental impact assessments and other preparatory work ahead of planning applications, in addition to strengths in the technical skills required in construction of renewables projects.
Also, 2010 sees the first of the baby-boom generation, born from 1945 onwards, beginning to retire. Mcginnis believes it will be important for any government to put the plans in place to ensure adequate healthcare and long-term care is in place to ensure the country can cope with its ageing population.
A feasibility study finished this month by Europe-based Veolia Energy closely scrutinized the proposed project and determined it could generate enough revenue to pay for itself, while bringing in revenue for the city of Montpelier. "The main focus of this stage of the exploration is if it's economically and technically feasible," said Gwen Hallsmith, Montpelier's Director of Planning and Community Development. "And the summary of what we've found is that it is economically and technically feasible."
An $8 million federal grant awarded to Montpelier in January is a major reason the project would work.
"Before the $8 million subsidy, the numbers probably didn't work," said Hallsmith. "But with it, the numbers work, so we can have some level of confidence moving forward that it will be economically viable." The positive financial projection is a milestone that means the project can "keep moving forward," said Hallsmith.
The company will carry out an environmental evaluation and social impact analysis on what is set to be Asia's "first environmentally planned resort island".
The Royal Group of Cambodia, which has been awarded a 99-year lease by the Cambodian government to develop the island, has also tasked the consultancy to produce a blueprint for the infrastructure on Koh Rong - including a road network, a marina, an international airport and utility services.
Covering an area of 80sq km (31sq miles) the island currently has a population of just 1,500, most of which live in small fishing villages spread across the coast.
London's leading share index finished the day up 34 points at 5758, with Antofagasta (ANTO) top of the pile with gains of more than 7%. Simon Brown, chief executive of Prospreads, said: "The FTSE 100 has had a meteoric rally over the last 12 months, rocketing from 3700 to 5800; an impressive 56% return. Not bad with interest rates at 0.5%! "But now many professional traders sense a change in sentiment.
"They are not ruling out further gains but the market dynamics creating 'heavy/light' feeling markets have changed and thus down moves are likely to be prolonged, with up moves conversely short lived, as long players take profits early."
In a statement, Greystar said Colombia's Environment Ministry had requested a fresh study that would see the project conform to new laws preventing development in Paramo regions, high altitude ecosystems in the Andes. Angostura impinges upon a Paramo system, but the company said it was originally told the mine's development would be not be affected by the new laws, as the project had been in the works for years.
The company said it has now been told it must confine the development to an elevation below 3,200 meters (10,500 feet) on the property.
"The request by (the Environment Ministry) for a redesign of the project and a new environmental impact assessment was not expected or anticipated by the company," Greystar said.
Greystar said nearly all of the planned facilities and infrastructure at the site would be located above 3,200 meters, as would be half of the proposed open pit mine. Greystar said will appeal the notification.
Angostura holds a resource of 11.5 million ounces, and Greystar had been hoping to file a feasibility study in the second half of the year.
The project lies next to Ventana's La Bodega project, which has become a favorite of investors over the past year the company has released impressive drill results. Galway explores next to Ventana.
Analysts have suggested the combined area could hold as much as 30 million ounces of gold, and see a combination of the companies or assets at some point as likely.
Ventana, one of the hottest stocks on the Toronto Stock Exchange last year, ran into trouble late in November when the local owner of the mineral rights at the La Bodega project filed for arbitration in the hopes of reclaiming the property. That dispute has not yet been resolved. Greystar stock was down C$2.67 at C$3.83 on the Toronto Stock Exchange. Ventana was down 61 Canadian cents at C$9.00, while Galway was down 12 Canadian cents at 91 Canadian cents on Monday morning.
Online services are paying off (Apr 28, 2010)
It's all happening in the online payments space. Visa, the world's biggest payments network, has just forked out £1.3bn for Cybersource, the California-based online payment and security outfit.That mouth-watering deal follows hard on the heels of private equity firm Welsh, Carson, Anderson & Stowe's £350m purchase of Global Collect, the world's premier payment service provider, while the part-nationalized RBS is also in the process of selling its Global Merchant Services unit, which includes the online payments provider Worldpay, for anything up to £3bn.
Leeds-based fraud-prevention company Datacash, which derives about 60% of revenues from the gaming market, gained 5p to 216p on hopes it will soon be swallowed by one of the industry's big boys. Valued at around 14.9 times 2010 earnings, it would certainly be a small mouthful for any cash-rich foreign bidder. Reading across from Visa's acquisition of Cybersource, Datacash's takeout price would be nearer £4 a share.
Datacash has a strong balance sheet and £18m cash in the bank. It recently announced that it will be providing bookie William Hill's UK and international clients with payment processing services.
Ready for Change - the first Place Low Carbon Forum (Apr 28, 2010)
There are inestimable problems posed by climate change but the region's property professionals have the expertise and resources to meet the challenge, was the key message when more than 70 delegates attended Place's Low Carbon Forum at the Manchester office of Halliwells LLP.The event was sponsored by Envirolink Northwest, the Environment Agency, Halliwells LLP and Beever and Struthers.
The first of two keynote presentations was delivered by Helen Hensel, senior surveyor in sustainability team at Drivers Jonas Deloitte who outlined the findings of DJD's Towards a Sustainable Commercial Property Sector report for Manchester City Council.
The hard-hitting report aims to set out a route-map for cutting 41% of CO2 emissions in Manchester by 2020. Suggestions in the report include devising incentives to encourage developers to improve the carbon performance of their buildings, and establishing better tools for measuring and displaying the energy 'scores' for buildings, perhaps with live counters on the outside of premises.
There could also be a Northern Quarter pilot project to test smart meters on buildings and an updated Manchester Guide to Developments.
Paying for green infrastructure could come from a new development levy to raise funds for the council to improve transport, waste and energy facilities.
In the second keynote address of the event, Nick Storer, chief executive of Envirolink Northwest, addressed delegates on the opportunities for businesses and residents in the North West to tap into renewable energy.
The region has the largest potential for wind energy generation in Europe, Storer said, but the UK has fallen behind Denmark, Germany and Spain in the wind turbine manufacturing industry.
Renewable energy reason snot adequate for AD (Apr 28, 2010)
Farmer interest in certain small-scale renewable energy projects has surged over recent weeks following the launch of a government incentive scheme.Feed-in Tariffs came into effect on 1 April, targeted at smaller-scale wind, hydro, solar and anaerobic digestion projects less than 5MW in size. FiTs offer index-linked payments of up to 41.3p per kWh for generated power and an additional 3p per kWh for exported surplus power.
Payments are guaranteed for a maximum of 25 years and vary depending on the type and size of system used (see table). There is also a potential saving on energy purchased from the electricity supplier.
"The launch of the Feed-in Tariffs is really stimulating the market with farmers wanting to do their bit for the environment," said David Williamson-Jones from Savills. "We've seen really strong interest in small wind turbines and photovoltaic solar in particular.
Investors can count on opportunities in post-election period (Apr 28, 2010)
Paul Mcginnis, Head of Research at The Co-operative Asset Management, suggests that the best opportunities lie in public sector outsourcing, renewable energy and healthcare.He says, ‘After the election, the need to cut the nation's increasing debt burden will drive a rush of public sector back-office functions, providing excellent opportunities for companies in the support services sector through outsourcing.’
Outsourcers work on the basis that they will maintain, and even improve service levels, whilst delivering cost savings of up to 30 per cent - an attractive option to a government looking to cut costs.
Those businesses with diverse business models and already strong relationships with government bodies have most to gain. Mcginnis believes Serco and Mitie already have expertise and experience in the public sector and are particularly well placed.
He adds, ‘With the Government under huge pressure to reduce public sector debt, outsourcing back-office functions provides an opportunity to make significant savings without having to cut vital front line public services.’
Meanwhile, urgent action is required to secure the UK's future energy supply with a shortage in power generation capacity looming, along with the need to meet ambiguous European targets on greenhouse gas emissions.
Reports suggest that £200 billion of investment in renewable energy is required in the UK during the next decade to replace dwindling North Sea gas and the imminent closure of old coal and nuclear power plants.
The UK government also has a stated aim of delivering a cut of 18 per cent in greenhouse gas emissions by 2020, compared with 2008. This requires around 30 per cent of the electricity consumed in the UK to come from renewable sources, compared with just 6 per cent at present.
Mcginnis says, ‘Scottish & Southern Energy (S&SE) is strongly positioned to benefit. Renewables already account for over 20 per cent of its overall generation capacity and it is ideally positioned geographically - in windy areas - to help the UK meet its targets.
Specialist engineering and infrastructure planning consultancies such as RPS should also grow. RPS has a variety of expertise in different areas including feasibility studies, environmental impact assessments and other preparatory work ahead of planning applications, in addition to strengths in the technical skills required in construction of renewables projects.
Also, 2010 sees the first of the baby-boom generation, born from 1945 onwards, beginning to retire. Mcginnis believes it will be important for any government to put the plans in place to ensure adequate healthcare and long-term care is in place to ensure the country can cope with its ageing population.
Citywide energy economically feasible (Apr 27, 2010)
A district energy project in Montpelier that would connect city, state and possibly private buildings to a new woodchip-burning plant would work economically and technically, according to the Montpelier official most closely involved in the project.A feasibility study finished this month by Europe-based Veolia Energy closely scrutinized the proposed project and determined it could generate enough revenue to pay for itself, while bringing in revenue for the city of Montpelier. "The main focus of this stage of the exploration is if it's economically and technically feasible," said Gwen Hallsmith, Montpelier's Director of Planning and Community Development. "And the summary of what we've found is that it is economically and technically feasible."
An $8 million federal grant awarded to Montpelier in January is a major reason the project would work.
"Before the $8 million subsidy, the numbers probably didn't work," said Hallsmith. "But with it, the numbers work, so we can have some level of confidence moving forward that it will be economically viable." The positive financial projection is a milestone that means the project can "keep moving forward," said Hallsmith.
Tourism study for Koh Rong island (Apr 27, 2010)
UK-based design consultancy Scott Wilson has been appointed to conduct a tourism feasibility study on the Cambodian island of Koh Rong.The company will carry out an environmental evaluation and social impact analysis on what is set to be Asia's "first environmentally planned resort island".
The Royal Group of Cambodia, which has been awarded a 99-year lease by the Cambodian government to develop the island, has also tasked the consultancy to produce a blueprint for the infrastructure on Koh Rong - including a road network, a marina, an international airport and utility services.
Covering an area of 80sq km (31sq miles) the island currently has a population of just 1,500, most of which live in small fishing villages spread across the coast.
Markets: FTSE 100 on flying form (Apr 27, 2010)
The FTSE 100 (UKX) climbed higher on Monday, with miners helping to continue its rally from Friday.London's leading share index finished the day up 34 points at 5758, with Antofagasta (ANTO) top of the pile with gains of more than 7%. Simon Brown, chief executive of Prospreads, said: "The FTSE 100 has had a meteoric rally over the last 12 months, rocketing from 3700 to 5800; an impressive 56% return. Not bad with interest rates at 0.5%! "But now many professional traders sense a change in sentiment.
"They are not ruling out further gains but the market dynamics creating 'heavy/light' feeling markets have changed and thus down moves are likely to be prolonged, with up moves conversely short lived, as long players take profits early."
Greystar drops as Colombia seeks project redesign (Apr 27, 2010)
Greystar stock tumbled 41.1 percent after a brief halt to its shares, while other Canadian gold miners active in northern Colombia also fell. Ventana Gold slid 6.3 percent and smaller Galway Resources dropped 11.7 percent. Ventana and Galway are both working properties near Greystar's Angostura project.In a statement, Greystar said Colombia's Environment Ministry had requested a fresh study that would see the project conform to new laws preventing development in Paramo regions, high altitude ecosystems in the Andes. Angostura impinges upon a Paramo system, but the company said it was originally told the mine's development would be not be affected by the new laws, as the project had been in the works for years.
The company said it has now been told it must confine the development to an elevation below 3,200 meters (10,500 feet) on the property.
"The request by (the Environment Ministry) for a redesign of the project and a new environmental impact assessment was not expected or anticipated by the company," Greystar said.
Greystar said nearly all of the planned facilities and infrastructure at the site would be located above 3,200 meters, as would be half of the proposed open pit mine. Greystar said will appeal the notification.
Angostura holds a resource of 11.5 million ounces, and Greystar had been hoping to file a feasibility study in the second half of the year.
The project lies next to Ventana's La Bodega project, which has become a favorite of investors over the past year the company has released impressive drill results. Galway explores next to Ventana.
Analysts have suggested the combined area could hold as much as 30 million ounces of gold, and see a combination of the companies or assets at some point as likely.
Ventana, one of the hottest stocks on the Toronto Stock Exchange last year, ran into trouble late in November when the local owner of the mineral rights at the La Bodega project filed for arbitration in the hopes of reclaiming the property. That dispute has not yet been resolved. Greystar stock was down C$2.67 at C$3.83 on the Toronto Stock Exchange. Ventana was down 61 Canadian cents at C$9.00, while Galway was down 12 Canadian cents at 91 Canadian cents on Monday morning.
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