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Vection accelerates European expansion via strategic acquisition

REAL-TIME software company Vection Technologies Ltd (ASX:VR1) has signed a binding agreement to acquire European technology company and Dell Platinum and OEM partner, JMC Group. 

JMC is a technology company designing, developing, and delivering high-level integrated business technology solutions for Industry 4.0, underpinned by a strong knowledge in virtual reality and augmented reality (XR), internet of things (IoT), artificial intelligence (AI) and information and communication technology (ICT). 

This acquisition will accelerate Vection's expansion within the Europe, Middle East and Africa (EMEA) region while further integrating its XR portfolio with IoT, AI and ICT towards a 360-degree product suite for Industry 4.0. JMC's strong growth history is expected to provide a more robust foundation for the combined group as it grows within the EMEA region. 

Gianmarco Biagi, managing director of Vection Technologies, commented that this transaction represented a significant step in the company's vertical growth strategy to assist companies in their digital transformation plans via next generation integrated XR solutions. 

"Vection's executive team is adhering to the stated growth strategy to establish itself as a global technology company with a strong XR foundation, deeply integrated with innovative enabling technologies (including AI) and strong vertical competences.

"Via this acquisition we gain a significant technological and geographical advantage and the addition of key management within the European region, unlocking significant global growth opportunities for the company. We remain focussed on completing our 2021 M&A acquisition strategy via the expansion in the US while progressing on our previously stated commercial objectives." 

In commenting on the acquisition, JMC's founder and CEO, Jacopo Merli, said, "We share Vection's global vision of bringing together next-gen technologies with XR to enable companies to make the leap to the fourth industrial revolution. We are truly excited to pursue this opportunity and to grow the combined business across the EMEA region and abroad in the coming months." 

About Vection Technologies

Vection Technologies Ltd (ASX:VR1) is a multinational software company that focuses on real-time technologies for industrial companies' digital transformation.Through a combination of 3D, VR, AR, IoT and CAD solutions, Vection Technologies helps companies and organisations to innovate, collaborate and create value. http://www.vection.com.au/  https://mindeskvr.com/  https://blankcanvas.studio/

 

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Scientific research improves seafood

WAYS to maximise the commercial potential of innovations in science will be discussed at an upcoming public hearing by the House Agriculture and Water Resources Committee.  

The committee will speak to the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Nuclear Science and Technology Organisation (ANSTO) this Thursday as part of its inquiry into the Australian aquaculture sector. Witnesses will appear via videoconference.

Committee Chair, Rick Wilson MP, noted that both organisations are engaged in pioneering research which aims to boost the overall efficiency, sustainability, and profitability of domestic aquaculture enterprises.

"CSIRO research into marine microbes led to the development of a natural supplement which has helped Australian farmers to rear bigger, healthier prawns," Mr Wilson said. "Similarly, ANSTO has used nuclear techniques to maximise seafood growth by identifying optimal feed ingredients and percentages.

"The committee looks forward to discussing these and other emerging scientific innovations, as well as their potential commercial applications in the expansion of the aquaculture sector," Mr Wilson said.

For further information, please visit the inquiry website.

 

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Darwin: Wharfies forced into quarantine over COVID safety breach

THIRTEEN waterfront workers have been forced into 14-day mandatory quarantine following a COVID safety breach at the Port of Darwin involving a container ship that arrived from Singapore on Thursday.

Workers at the Linx terminal at East Arm Wharf who boarded the Tacoma Trader to unload containers have been forced into quarantine, with Northern Territory police collecting six from the wharf, along with an additional seven who worked the previous night shift. All have been transported to the Howard Springs quarantine facility.

The Tacoma Trader had been allowed to dock well inside the 14 day quarantine period after NT Health boarded the vessel to undertake health checks of the foreign crew, which involved temperature checks and a declaration from the ship’s master that there was no illness onboard.

Once NT health cleared the vessel of any COVID cases, waterfront workers were permitted to board the vessel to commence unloading the cargo.

The Maritime Union of Australia (MUA) has been campaigning for foreign crew to be tested for COVID prior to Australian workers boarding vessels, but NT and Federal Governments refuse to implement that common sense approach to keep waterfront workers and the community safe.

MUA assistant national secretary Adrian Evans said health authorities had forced workers into quarantine, with workers told by police that it was because of an administrative failure by the vessel’s agent in declaring the number of days since its last port of Singapore, which is not a declared hotspot. This failure was out of the workers’ hands.

"This has been an extremely traumatic experience for our members, who were marched off the wharf by police and bussed straight into quarantine, including some who needed to get home to care for their children,” Mr Evans said.

“The Tacoma Trader, like most vessels arriving in Darwin, had not been at sea for 14 days, leaving waterfront workers dependent on government health checks of the ship’s crew to keep them safe. 

“Those biosecurity measures have clearly broken down, resulting in extreme hardship for nearly half the workforce at the Linx terminal who were simply doing their job, but are now stuck in quarantine.

“Given there are no COVID cases onboard the Tacoma Trader, we question why workers are in lock-up? This is clearly a bureaucratic overreaction.

“Dragging people out of their workplace and locking them up without a valid reason is clearly unacceptable. No one should go to work, then be forcibly detained in Howard Springs for two weeks.

“To make matters worse, these workers have been denied a change of clothes and are still in the same work gear they’ve had on since 6am yesterday.

“Our members worked all through the height of the pandemic, they have faced the risk of COVID infection to keep the economy going, and now they find themselves being locked up just for doing their jobs.

“We demand the immediate release of our members and a commitment from the NT Government that this will not happen again.”

The Tacoma Trader has now been diverted to Port Hedland, which will significantly impact delivery of cargo into the Territory. The union also warned that the quarantining of a large part of the workforce will impact the ability to load and unload other vessels at the Port of Darwin.

Mr Evans said the incident highlighted the union’s repeated warnings that Australia’s COVID biosecurity measures — which vary between states and territories — are fundamentally flawed.

“The MUA has written to National Cabinet on a number of occasions, highlighting flaws in Australia’s biosecurity measures, and urging an immediate overhaul to create a nationally-consistent regime for addressing the very real threat of COVID arriving on international commercial vessels,” Mr Evans said.

“This issue is particularly important for the NT, because the territory’s close proximity to Asia means most vessels are arriving less than 14 days after departing foreign ports.

“What we need is the rapid testing of all seafarers arriving in Australian ports, ensuring COVID outbreaks onboard are immediately identified, appropriate health support is provided, and Australian workers are protected from the risk of infection.

“This case highlights the precariousness of the current system, and the very real risk of COVID entering the Australian community through maritime supply chains.

“There is no question that this COVID safety breach is a failure of government; it shows the current approach isn’t working and highlights the urgent need for a nationally consistent approach to address the issue.”

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Volunteering Queensland launches a small grants program to support student volunteering during National Student Volunteer Week

VOLUNTEERING Queensland has launched the National Student Volunteer Week (NSVW) website and social media campaign, as the Small Grants Program.

Grants of up to $500 will be available in Queensland only and are for activities held during 2021 NSVW that celebrate the contribution of and enable the participation of young people through volunteering.

The grants are open to Queensland universities, TAFEs, colleges, schools, and not-for-profit organisations that have volunteering programs for students and young people aged up to 25 years of age. 

National Student Volunteer Week (NSVW2021), August 9 – 15, exemplifies the outstanding contribution student volunteers make across Australian communities. Education providers, volunteer organisations and students across the country are invited to participate in National Student Volunteer Week by getting involved at their local community level to celebrate and promote volunteering, hosting events, awards and training sessions, as well as taking part in volunteering activities.

With the decrease in volunteering participation in the last 12 months, and an increase in the needs of vulnerable community members due to COVID-19, now it is more important than ever for students and young people to come together and acknowledge the important role they play in the sector and the wider community.

National Student Volunteer Week gives students the opportunity to lead others in connecting to their community by offering support and kindness. Students are provided with the chance to explore the personal and professional benefits of volunteering, which include valuable work experience, enhanced feelings of self worth, refinement of values, increased understanding of people, local and global issues, and reduced social isolation.

NSVW also recognises the significant skills, ideas, enthusiasm, creativity, and time that young people contribute through volunteering. A suite of resources has been developed and is available for all participants to assist with planning and executing volunteering activities as well as volunteer promoting events and campaigns.

National Student Volunteer Week has been coordinated and delivered nationally by Volunteering Queensland since 2013 and supported by Volunteering Australia and all State and Territory Peak volunteering bodies, 

The 2021 NSVW grant applications opened at 10am on Friday June 11 and close at 5pm on July 9, 2021.

The initiative has been made possible through the support of the Queensland Government through the Department of Communities, Housing and Digital Economy. 

For more information about the week as well as the grants program, visit The National Student Volunteer Week website at https://nationalstudentvolunteerweek.org.au/

 

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First public hearing into Security of Critical Infrastructure to be held

THE Parliament’s Intelligence and Security Committee will hold the first of a number of public hearings tomorrow as part of its Review of the Security Legislation Amendment (Critical Infrastructure) Bill 2020 and Statutory Review of the Security of Critical Infrastructure Act 2018.

The Committee will hear from the Law Council of Australia, Inspector-General of Intelligence and Security, Commonwealth Ombudsman, Office of the Victorian Information Commissioner, Office of the Australian Information Commissioner, and the Department of Home Affairs and the Australian Signals Directorate.

Further information on the inquiry can be obtained from the Committee’s website.

Public hearing details

Friday, 11 June 2021
9.30am – 3:30pm (AEST)
Committee Room 2R1, Parliament House, Canberra

A program for the hearing can be found here and the hearing will be broadcast live at aph.gov.au/live.

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Ombudsman to monitor impact of Woolworths food distribution move

THEAustralian Small Business and Family Enterprise Ombudsman Bruce Billson said his office would closely monitor Woolworths’ planned acquisition of a controlling stake in PFD Food services (PFD), in regards to the impact it has on small businesses in the sector.

Following the Australian Competition and Consumer Commission’s (ACCC) decision not to oppose Woolworths’ acquisition of 65 percent of shares in PFD, Mr Billson said small businesses in the food distribution space were understandably concerned.

“The ACCC’s decision not to intervene or impose any conditions on Woolworths’ proposed acquisition of a majority stake in PFD is disappointing,” Mr Billson said.

“The deal is an example of another creeping acquisition by an already dominant player in the food and grocery sector, eating away at the competitive landscape and the footprint of independent businesses.

“In this case it’s the wholesale food distribution channel, which has been one of the few genuinely competitive areas of the food and grocery sector

“Food and grocery suppliers are concerned about the likely further narrowing of alternatives to supermarkets for their products with the transaction expected to result in Woolworths significantly increasing its presence and influence in wholesale food distribution channels.

“Small and family business food and grocery suppliers will understandably feel one of the truly open doors for their products closed a little today.

“My office has made our concerns about this transaction clear to the ACCC and we note the evidence was not sufficient to support ACCC intervention as it has concluded the deal will not substantially lessen competition," Mr Billson said.

“Given that much of the concern about this acquisition relates to Woolworths’ influence on the wholesale distribution channel and the impact on food and grocery producers who are already concerned about having too few customer options, I hope the ACCC will join me in keeping a close eye on how this plays out.

“In the meantime, my office welcomes ongoing feedback from small and family business owners and operators in food distribution.”

www.asbfeo.gov.au

 

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Retirees welcome extension of temporary superannuation drawdown relief

 “THE ANNOUNCEMENT by the government to extend the temporary halving of the minimum superannuation drawdown amount is welcomed by retirees,” Association of Independent Retirees president Wayne Strandquist said today. 

“In times of financial crisis or market volatility that we have seen with the GFC or the COVID-19 pandemic, retirees need greater flexibility in the minimum amount they are required to draw down from their superannuation," he said.

“If retirees are forced to withdraw money from superannuation when the capital value of superannuation accounts are depressed or when the returns being generated are low, it will have long term impacts on how long their superannuation will last,” Mr Strandquist said.

“The 50 percent reduction in the minimum age based drawdown percentages for superannuation income streams for the past two years was welcomed by retirees, as is the extension of the temporary reduction for a third year 2021-22.

“The Association of Independent Retirees has advocated for some years to government that the minimum withdrawal percentages from superannuation in retirement should be permanently lowered for retirees who are 75 years and older.

“The time spent in retirement is now considerably longer than when the compulsory superannuation system was established. In addition to this longevity risk, investment risk also increases over time with more periods of volatility in the value of retirement savings and retirement income,” Mr Strandquist said.

“So, rather than a temporary arrangement, retirees need a permanent reduction to minimum super drawdowns so they have the flexibility to deal with whatever comes along as well as preserving funds for out of pocket health and age care expenses in later life."

www.independentretirees.com

 

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Juukan Gorge inquiry: Queensland perspectives

ON TUESDAY, June8, the Northern Australia Committee will hear from representatives of the Cape York Land Council, AECOM, Torres Shire Council and Gur A Baradharaw Kod Torres Strait Sea and Land Council Torres Strait Islander Corporation (GBK).

The inquiry into the destruction of Indigenous heritage sites at Juukan Gorge will further examine Aboriginal and Torres Strait Islander heritage legislation in Queensland, with a public hearing by videoconference.

The Committee will delve into cultural heritage problems experienced in Queensland by both Aboriginal and Torres Strait Islander peoples.

Committee Chair Warren Entsch said, "Cultural heritage protection is the primary objective of the Committee. By discussing issues with those affected we can ensure that the Committee’s report will include the voices of stakeholders from across Australia."

A key issue for the Cape York Land Council is that politicians and bureaucrats should not be making decisions relating to heritage protection and management.

An important issue for AECOM is that authorised Indigenous parties must be treated as crucial partners by governments and proponents in decision making processes for heritage management.

GBK wants land users to recognise and appreciate that the relationship between Aboriginal and Torres Strait People and their environment is one based on balance in harmony with nature and observance of their ancestral customs.

A program for the public hearing is available on the Committee’s website.

Public hearing details

Date: Tuesday, 8 June 2021
Time: 10am to 4pm AEST
Location: by video/teleconference

The hearings will be broadcast live at aph.gov.au/live.

 

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Old headaches return for SMEs as pandemic pressure subsides - MYOB report

THE PRESSURE on small and medium sized enterprises (SMEs) from economic decline due to COVID-19 is felt by 35 percent of SMEs, down 20 percentage points compared to this time last year, however past pressures are creeping back to pre-pandemic levels with some increasing 6 percent in the past six months, according to the new MYOB Business Monitor. 

The latest research of more than 1,000 Australian SME owners and operators found top business concerns to be cashflow and the cost of utilities, felt by 32 percent of respondents. The greatest increases include access to finance, a pressure for 26 percent of respondents up from 20 percent in December, and late payments from customers increased to 29 percent from 25 percent. 

As some businesses return to normality, traditional business concerns are creeping back in, according to Emma Fawcett, MYOB’s general manager SME.

“It’s an unfortunate return to ‘business as usual’ for the country’s 2.29 million SMEs with 14 of the 16 business pressures measured by the MYOB Business Monitor increasing in the last six months," Ms Fawcett said. "This demonstrates that as COVID-19 pressure subsides other business pressures increase. 

“SME concerns with payment times and old bugbears associated with physical presence – such as utilities like electricity and gas – are back on the table. It seems these issues were temporarily superseded during the pandemic but are increasingly back on the radar now for many SMEs.”

Business confidence

The research, conducted before Victoria’s latest lockdown, found overall business owners were feeling positive about the year ahead, with 57 percent predicting an uplift in Australia’s economy and almost half (48%) predicting their revenue will be up a year’s time.

The latest Business Monitor shows a marked difference in confidence for the coming year by industry, with 78 percent of finance and insurance SMEs predicting the economy will improve in the next 12 months, compared with a national average of 57 percent. Retail and hospitality are at the other end of the spectrum with only 46 percent predicting uplift.

Queensland SMEs are the most confident with 60 percent predicting an improvement in the economy in the year ahead, followed by Victorians, at 59 percent when the survey was conducted prior to the latest lockdown. In New South Wales 58 percent believed the economy would improve as did 55 percent of Western Australian SMEs. 

Nationally 30 percent report an increase in revenue on a year ago, up from 19 percent in December. The likelihood of a revenue increase in 12 months time is up 11 points to 48 percent compared with 37 percent at the end of last year.

Business priorities

In the next 12 months SMEs are looking to increase the prices and margins on what they sell (30%), retaining customers (29%), as well as customer acquisition, employee payments and marketing/advertising online (all 28%).

“After a challenging trading year, it’s encouraging to see SMEs looking to explore new revenue opportunities over the next 12 months,” Ms Fawcett said.

“It’s concerning those operational pressures are on the rise as the country recovers from COVID-19, however an overall confidence in the economy as well as SME revenue, is a good sign for a sector that makes up 95 percent of Australian businesses.”

About MYOB

MYOB is a business platform with a purpose of helping more businesses in Australia and New Zealand start, survive and succeed. MYOB delivers end-to-end business management tools and accounting solutions for SMEs and the mid-market, direct to businesses, as well as a network of accountants, bookkeepers and consultants. MYOB operates across four key segments: small and medium enterprises (SME), enterprise, financial services and practice.  myob.com  @MYOB on Twitter.

About MYOB Business Monitor

The MYOB Business Monitor researches business performance and attitudes regarding areas such as profitability, cash flow, pipeline work, technology usage and the government.  This report presents the summary findings for key indicators from the MYOB Business Monitor comprising a national sample of 1,005 business owners, managers and directors (operators), conducted from March 17 to April 22, 2021. The businesses participating in the online survey were both non-employing and employing businesses. All data has been weighted by industry type, location and number of employees, which are in line with the Australian Bureau of Statistics (ABS - Counts of Australian businesses, including entries and exits - 8165.0).  

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Ombudsman launches Review of Discretionary Mutual Fund proposal

THE Australian Small Business and Family Enterprise Ombudsman Bruce Billson has today launched a Review of the Discretionary Mutual Fund proposed for small businesses in the amusement, leisure and recreation sector unable to secure essential insurance coverage.

Mr Billson said the self-generated review would build on ASBFEO’s Insurance Inquiry as well as ongoing feedback from the Australian Amusement, Leisure and Recreation Association (AALARA) on behalf of its members – many of which face imminent closure without adequate insurance coverage.

“Our country shows that we all love so much are facing a bleak future because small businesses, such as ride-operators, cannot get insurance coverage,” Mr Billson said.

“Closure of these small businesses will mean significant job losses and hurt local economies.

“Our review will be a deep dive into the inaccessibility of insurance for amusement, leisure and recreation businesses, so that we can provide further advice to the Australian Government on what measures could help these small businesses secure the insurance products needed to remain in operation.

“At the core of this review, my office will independently examine AALARA’s proposal to establish an industry-owned and operated Discretionary Mutual Fund as the most effective and durable solution to the sector’s insurance crisis," Mr Billson said.

“We will consider if this proposal will resolve the insurance issues in the sector, the responsibilities and obligations it would impose, its adequacy in satisfying regulatory requirements as well as other options that may assist these businesses.

“This review will use the Ombudsman’s internal expertise and seek external expert advice on complex issues, such as specialist legal, financial sustainability and actuarial matters.”

AALARA president Shane McGrath welcomed ASBFEO’s Review of its proposed Discretionary Mutual Fund, which it is seeking to establish in partnership with Aon.

“The amusement, attractions, leisure and recreation industries are facing catastrophic consequences without necessary insurance coverage,” Mr McGrath said.

“ASBFEO’s review will provide vital information to the Australian Government about the challenges our members are up against regarding insurance accessibility, as well as what that means for these businesses and what support could help address insurance issues faced by the sector," he said.  

A final report is expected to be completed in August.

www.asbfeo.gov.au

 

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Committee focuses on infrastructure procurement

A NEW parliamentary inquiry will examine procurement practices for government-funded infrastructure.

Committee chair of the House of Representatives Standing Committee on Infrastructure, Transport and CitiesJohn Alexander OAM MP, said, "This is an important and timely inquiry as Australia focuses on its economic recovery."

The Australian Government has committed $110 billion to a 10-year infrastructure pipeline, as part of Australia’s Economic Recovery Plan. This includes $15.2 billion in new commitments to infrastructure projects in the 2021-22 Budget.

"Given the size of this investment, it is important that procurement practices for these government-funded infrastructure projects provide the best value for tax-payer dollars and support developing Australian industry capabilities and Australian jobs," Mr Alexander said.

"The committee will examine challenges and opportunities to enhance Australia’s sovereign industry capability, including for Australian-owned businesses. We are keen to hear about: what is working well here and internationally; opportunities to improve procurement practices; and how governments at all levels can better cooperate on infrastructure procurement."

The committee has invited submissions from stakeholders and interested parties. The full terms of reference are available on the committee’s website.

Submissions are being sought by Friday, 16 July 2021. Submissions can be made online or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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