Qld Budget 2009 Asset Sales - articles and discussion

[ozbob]

Courier Mail --> Queensland investors to get priority in allocation of Queensland Rail shares after privatisation

[ozbob]

Treasurer and Minister for Employment and Economic Development
The Honourable Andrew Fraser
19/09/2010

BE PART OF SOMETHING BIG - Queenslanders get a priority allocation in QR National Share Offer

Queenslanders will have a special opportunity to take part in the QR National Share Offer, Queensland Treasurer Andrew Fraser said.

Launching the pre-registration phase at Brisbane's famous 'Gabba' Cricket Ground, Mr Fraser said those Queenslanders who registered for a Share Offer Document and then applied for shares would be eligible for priority allocation.

"Today, at one Queensland icon, we officially begin the process that will see another Queensland icon become one of Australia's top 50 companies," Mr Fraser said.

"QR National is a big Queensland company that is destined to get even bigger, which is why any Queensland residents who register and then take part in the Share Offer will receive a priority allocation.

"The Government made this commitment when we announced the sale structure of QR National Limited last December, and today we deliver on that commitment.

"Pre-registration is an important phase in the Share Offer process, and I urge anyone interested in taking part to get online and register for your Share Offer Document.

"Pre-registration costs absolutely nothing and does not create an obligation to apply for shares in the QR National Share Offer.

"Queensland retail investors who pre-register will get a copy of the Share Offer Document, a personalised application form and a guaranteed allocation of shares if they decide to apply once the Share Offer opens.

"QR National is a growth story - it is Australia's largest rail freight company and the world's largest rail transporter of coal from mine to port for export markets.

"Investors will be well aware of the opportunities in sectors that are leveraged to growth in China and India and QR National is one such company," Mr Fraser said.

Mr Fraser also announced an attractive package of incentives for retail investors who decided to apply for shares when the Share Offer opens. The incentives are:

̶Discounted price per share - the opportunity to buy shares at a discount to the price paid by institutional investors

• Maximum price per share - the guarantee that retail investors will pay no more than a specified price per share. This means retail investors will know the maximum price per share even if the price paid by institutional investors is set higher
• Loyalty bonus shares - loyalty bonus shares for retail investors who hold their shares for a specified period of time
• no brokerage fees are payable for shares purchased through the Share Offer.

Further information about the retail incentives will be released in the Share Offer Document when the Share Offer opens, which is expected to be Sunday, 10 October 2010.

Lance Hockridge, Managing Director and CEO of QR National, said it was a privilege to lead a business with such a strong heritage and exciting future.

"QR National is one of Australia's largest rail co mpanies and the world's largest transporter of coal by rail from mine to port. We are well placed to benefit from the growth in Asian demand for our natural resources and to capitalise on the growth of rail as the preferred method of bulk transport," Mr Hockridge said.

The Queensland Government has appointed a selling syndicate with national reach to assist in structuring, marketing and selling the Share Offer.

The selling syndicate is led by a team of Joint Lead Managers - Credit Suisse, Goldman Sachs, Merrill Lynch, RBS and UBS. Commonwealth Securities and Wilson HTM are the Co-lead Managers and will be supported by a number of retail broking houses acting as Co-managers, including Bell Potter Securities, E.L. & C. Baillieu Stockbroking, Evans & Partners, JBWere, Merrill Lynch Global Wealth Management, Ord Minnett, Patersons Securities Limited, RBS Morgans and UBS Wealth Management.

How to pre-register

Investors can pre-register by visit ing qrnshareoffer.com.au or by calling 1800 776 476 (between 7.00am and 11.00pm EST, Monday to Friday).

All retail investors who pre-register will receive a personalised application form and Share Offer Document. Investors may elect to receive an electronic copy via email, which will be sent immediately after the Share Offer opens, or a printed copy that will be dispatched via mail.
Pre-registration closes on Friday, 8 October, 2010.

- Ends -

Audio and vision of the Treasurer's and CEO's pre-registration press conference is expected to be available by 1.30pm today (Sunday, 19 September) at www.qrnshareoffer.com.au (see media section).

[Derwan]

Anyone gonna buy any shares?

I wouldn't mind buying some... just to say I own part of QR National!

[ozbob]

I have pre-registered, just to see how it works.  Wether or not I end up buying shares, well see what is in the documents and so forth. Previous floats of public assets have generally not gone well ...

Email confirmation:

Thank you for pre-registering in the QR National Share Offer.

This email is confirmation of your pre-registration to receive a Share Offer Document and personalised Application Form as soon as the Share Offer opens. The Share Offer is expected to open on Sunday, 10 October 2010.

When the Share Offer opens, as a retail investor you will be entitled to an attractive package of retail incentives only available through the Share Offer.  Pre-registration does not oblige you to invest in any shares in QR National and you should only make your investment decision after carefully considering the information contained in the Share Offer Document.

You should keep this email as it contains important information.

[ozbob]

Brisbanetimes --> Government puts the best shine on QR float, but equity markets are the key

[ozbob]

Courier Mail --> Backlash could undermine QR National float price, warns Andrew Fraser

[ozbob]

Sunday Mail --> QR National executive salary packages tipped to triple

[ozbob]

Queensland Parliament Hansard

http://www.parliament.qld.gov.au/view/legislativeAssembly/hansard/documents/2010.pdf/2010_10_07_DAILY.pdf

Ministerial Statement QR National

QR National
Hon. AP FRASER (Mount Coot-tha—ALP) (Treasurer and Minister for Employment and
Economic Development) (9.50 am): Sunday will see the launch of the share offer document for QR
National—Australia's new transport giant. This will be a historic moment for QR, for Queensland and
indeed for the nation. Queensland Rail has a history going back 145 years in this state. It has in many
ways been the backbone of our economic development across Queensland, and it will be for
generations to come.

It is important to look at the story of QR to now to understand its story going forward. In 1999,
after 135 years, QR hauled 100 million tonnes of coal. A decade on, and haulage has doubled to
200 million tonnes. Some 135 years to haul 100 million tonnes and just 10 years to double that growth.
This is the growth story that will be as critical to Queensland's economy over the coming decades
as it has been in the past. Ensuring our export infrastructure can expand in a timely and efficient
manner, aligned to demand from the private sector, is vitally important for the resources sector and the
Queensland and national economies. We are creating a top 50 Australian company based right here in
Queensland. A great Queensland company with a national footprint, taking the next step to be an
Australian giant. It is a threshold moment for Queensland, for the QR National workforce and investors
across Australia and indeed around the globe.

Almost three weeks ago preregistration for the share offer was launched. Since then we have
seen strong levels of demand from both retail investors, brokers keen to ensure their clients have the
opportunity and institutional investors here and around the globe. Preregistration is scheduled to close
tomorrow. Anyone interested in the offer has until 11 pm tomorrow night to register either through the
call centre or through the website at qrnshareoffer.com.au.

The offer document will obviously fulfil all the reporting requirements of the Australian Securities
and Investments Commission. It will include a suite of incentives for retail investors—a common feature
of IPOs of this kind. These arrangements typically include a discounted price per share for retail or mum
and dad investors to the price charged to banks or other institutional investors; a maximum price per
share to ensure mum and dad investors are not disadvantaged by strong demand from institutions; and
a loyalty issue of bonus shares, including a scheme that gives additional rewards to Queensland
investors.I urge all investors to seek their own financial advice when considering the QR National share
offer.

In the lead-up to Sunday, I can inform the House of another couple of important milestones that
have been cleared on the road to listing. On Tuesday, Standard & Poor's assigned a BBB+ long-term
corporate credit rating to QR National, with a stable outlook. This assessment of QR National's balance
sheet declares it to be an investment grade entity and reflects our determination to ensure it makes it to
market with the capacity to invest in the future expansion that the resources demand will require and
that will require so many people to work for QR National into the future.

I am also pleased to announce to the House the finalisation of further measures to support
competition in the coal rail market. Last Friday, the Queensland Competition Authority approved QR
National's rail access undertaking. One only has to look at the market share of QR National and its
competitor to see that there is strong competition in the Queensland market. This has been endorsed
recently in the draft National Competition Council ruling.

This government said it would take steps to enhance our pro-competition measures further. It has
sought to enhance competition in the state's access regime through stronger ring-fencing requirements
and offering network users a blueprint for delivering its future growth and expansions. We have done
just that.

This decision provides clarity for QR National, its competitors and the resource companies that
are its main customers. QR National is a proud company

[ozbob]

From the Brisbanetimes click here!

It's revelation day for QR shares

It's revelation day for QR shares
October 10, 2010

Share documents for the Queensland Government's $7 billion float of QR National will be made public today.

QR National is being sold off by the government in what is expected to be one of the biggest market offerings in recent years.

The enterprise value of QR National will be $7 billion, including debt, making it one of Australia's top 50 companies.

The offer price will be announced tonight.

The Queensland government will retain a stake in QR National of between 25 and 40 per cent.

QR National is among the public assets being sold off by the Bligh Labor government to help retire debt and restore Queensland's triple-A credit rating.

AAP

[ozbob]

Brisbanetimes --> Registrations for QR National offer top one million

[ozbob]

Courier Mail --> QR National share documents and offer price to be revealed to public

QUEENSLAND rail shares will be priced between $2.50 and $3 a share, valuing QR between $6.1 m and $7.3 m dollars.

Treasurer Andrew Fraser announced the price this morning as Premier Anna Bligh declared "the time is right" ....

[ozbob]

Joint Statement:

Premier and Minister for the Arts
The Honourable Anna Bligh

Treasurer and Minister for Employment and Economic Development
The Honourable Andrew Fraser
10/10/2010

Queenslanders rewarded for being part of something big

Queensland Premier Anna Bligh today announced that Queensland residents who participate in the QR National Share Offer will receive a priority allocation over all other applicants and also be eligible for a higher number of loyalty bonus shares.

Speaking at the official launch of the QR National Share Offer, Ms Bligh said the additional benefits for Queensland residents were an important part of the Share Offer and would provide a strong incentive for Queenslanders to participate.

"Queensland residents will receive one loyalty bonus share for every 15 shares allocated under the Retail Offer and held until 7 December 2011, up to a maximum of 675 loyalty bonus shares," she said.

"Non-Queensland residents will receive one loyalty bonus share for every 20 shares up to a maximum of 500 loyalty shares."

"QR National is a proud Queensland business with a strong heritage and more importantly a very bright future," Ms Bligh said

"All Queensland residents have an opportunity to invest in one of the 50 largest companies on ASX by market capitalisation, which will be headquartered in Brisbane. This is why I am pleased to be able to announce these additional loyalty bonus shares for all Queensland residents."

Treasurer Andrew Fraser said the Government had legislated to ensure that QR National will remain based in Queensland, with its key operations run from Queensland.

"Just as the Q in Qantas stands for Queensland, the Q in QR National will always stand for Queensland.

"QR National is a great Queensland company with a national footprint and will now go on to be a great Australian company.

"This is an important day not just for Queensland, but for our nation. Making sure our export chain expands to meet demand is not just good for the resources sector in the Queensland economy - it's vital to the growth of the Australian economy."

Other retail incentives announced today, available to all eligible retail investors, include a discount of 10 cents per share to the price paid by institutions, a maximum price of $2.80 per share and no brokerage fees are payable if you apply through the Offer.

QR National has a legislated shareholder limit of 15% ensuring it cannot not be subject to a takeover.


How to apply for shares in QR National

Eligible retail investors can apply for shares now online at qrnshareoffer.com.au and pay by BPay®.

Alternatively, eligible retail investors who request a printed Share Offer Document can apply by mailing their application form and payment before the closing date of the Share Offer. Printed Share Offer Documents are expected to be available from around 15 October 2010.

Investors who have a broker should contact their broker directly to receive instructions on how to apply through the Broker Firm Offer.

How to get a Share Offer Document

Eligible Australian resident retail investors may obtain a copy of the Share Offer Document together with your personalised application form visit qrnshareoffer.com.au or call 1800 776 476.

From Friday, 15 October 2010, investors can get a copy of the Share Offer Document at any Commonwealth Bank branch in Queensland.

Applications for the QR National Share Offer are due by 5.00 pm (Brisbane time) Friday, 12 November 2010.

Further information

Investors requiring more information can call 1800 776 476 (within Australia) or + 61 3 9938 4376 (outside Australia) or contact their broker.



About QR National

QR National is Australia's largest rail freight company with services operating across five states. In 2009-10, QR National transported more than 260 million tonnes of freight, including coal, iron ore, other minerals, agricultural products and general freight.

It also operates and manages the 2,300 kilometre central Queensland coal network that links mines to coal ports at Bowen, Mackay and Gladstone.

QR National is expected to be one of the 50 largest companies on the Australian Securities Exchange (ASX).

Important information

Full details of the offer of shares in QR National Limited (ACN 146 335 622) by the State of Queensland including the risks associated with an investment in QR National are set out in the Share Offer Document. Applications by eligible retail investors may only be made by completing the application form in or accompanying the Share Offer Document. You should consider the Share Offer Document before deciding whether or not to apply for shares in QR National.

This notice does not constitute an offer to sell, or the solicitation of an offer to buy, any shares in QR National in the United States. Shares in QR National will not be and have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This media release includes "forward-looking statements" within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of QR National and its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements, and QR National assumes no obligation to update such information.

Further information

Visit qrnshareoffer.com.au. If you have questions about how to apply call 1800 776 476.

==============================================================

[ozbob]

From the ABC News click here!

Carbon price weighs on QR float

Carbon price weighs on QR float

By Business editor Peter Ryan - analysis

The public float of the Queensland rail freight company QR National is exposed to the possibility of a carbon tax, according to the company's prospectus released today.

The offer document cites a number of key risks including "the introduction of a carbon or similar tax or change in legislation or policy in relation to greenhouse gas emissions in any of the major markets for coal."

The prospectus warns a policy change could reduce the demand for thermal coal and make the price of Australian coal less competitive. The company has also warned the possibility of a carbon tax could increase QR's operating costs.

The QR National float comes as Prime Minister Julia Gillard is under pressure to put a price on carbon emissions.

One of QR's key clients, BHP Billiton, joined the debate last month when chief executive Marius Kloppers urged the federal government send a clear price signal on carbon emissions.

The possibility of a carbon tax or changed legislation is outlined inside the document under a summary of risks that "could have a material or adverse impact" on QR National's operational and financial performance.

Investors, both institutional and retail, will be cautious of the potential for changing government policy after the privatisation of Telstra was hampered by problems in regulatory and government relations. However the potential for a shift in government policy was outlined in the prospectuses for each of the three Telstra floats.

The QR prospectus has flagged other potential risks that could be driven by local politics and global developments including:

    * The implementation of the government's Minerals Resource Rent Tax (MRRT) could increase operating costs and impact growth of resources hauled by QR

    * Reduced demand for coal from China, India, Japan, Taiwan and Korea

    * Failure to renew major contracts on the same or more favourable terms

    * Extensive regulation that could be adverse to QR National

The Queensland Treasurer, Andrew Fraser, also reminds investors that although QR has a "bright, strong future" there are risks involved.

"QR National, like any investment, involves risks and future returns are not guaranteed by the State of Queensland. Importantly, the value of shares can go down as well as up," Mr Fraser warns in an introductory letter contained in the prospectus.

The biggest public share offer in more than a decade is expected to raise more than five billion dollars for the Queensland government.

The controversial sale of the rail freight business QR National has been described by the Queensland government as "a durable investment for the future."

The Queensland government will retain between 25 and 40 percent of QR, and will sell up to 1.68 million shares at between $2.50 and $3.00 a share.

Individual investors will pay no more than $2.80 a share, according to the offer document released in Brisbane today.

The QR float will be the largest sharemarket listing since Telstra was privatised in three stages from 1997. More than a million potential investors have applied for the QR prospectus.

The initial public offering (IPO) is a key part of the Queensland government's controversial $15 billion sell-off of public assets. The sale has faced opposition from trade unions and community groups.

Volatile financial markets have also tested investor confidence after the most recent public float of the retail chain Myer delivered disappointing returns.

However, the Queensland Treasurer Andrew Fraser says the QR float is underpinned by relentless demand from China and India.

"If you believe in the growth story of Asia, you can believe in this stock. It is a very durable investment," Mr Fraser said at the IPO's launch in Brisbane today.

QR's chief selling point centres on the insatiable demand from China and India for Australian resources. The company hauls coal from Australian mines to ports for shipping and manages about 2,300 kilometres of track.

The overall value of QR, including the Queensland government's retained stake, has been put at around $7.8 billion.

The company will officially list on the Australian Securities Exchange on November 22nd and will be one of Australia's top 50 companies by market capitalisation.

[ozbob]

Brisbanetimes --> QR National is too expensive, say funds

[ozbob]

Brisbanetimes --> Jobs safe, says QR chairman

[ozbob]

ABC News --> QR chair defends pricing of shares

[Golliwog]

I know its probalby been said somewhere before, but with the sale of QR National, who is going to end up owning the tracks? I believe its the government through QR Passenger isn't it? Or is QR National going to have some of it (ie: the tracks into the coal mines, etc)?

[somebody]

I know its probalby been said somewhere before, but with the sale of QR National, who is going to end up owning the tracks? I believe its the government through QR Passenger isn't it? Or is QR National going to have some of it (ie: the tracks into the coal mines, etc)?

Some of the coal tracks are being sold.  Nothing in the Citytrain area though.  Not sure about TravelTrain.

[Jonno]

Govt will own all tracks but leases the coal network to QR National under a 99 year lease.
http://en.wikipedia.org/wiki/QR_National

[Stillwater]

QRN is an Australian based rail freight haulage operator with a large operational focus in central and northern QLD. The company is primarily involved in large, heavy haul rail tasks such as the transportation of coal, iron ore, other minerals, agricultural products and general freight as well as containerised freight. QRN earns revenues based on the transportation of coal and other bulk and non-bulk products. The company is segmented into three different divisions; QRN Coal, QRN Network Services and QRN Freight.

QRN has launched their IPO, allowing investors to purchase fully paid ordinary shares in Australia's largest freight haulage operator. Under this offer, 60% to 75% of QRN will become publically owned, with the remaining shares to be held by the Queensland State Government. The indicative price range is between $2.50 and $3.00; retail investors can apply for QRN shares at a discount of 10 cents per share to the Institutional Price, and will pay a maximum of $2.80 per share under the Retail Offer (the retail price will only apply for the first $250,000 worth of QRN shares).

Investors who wish to participate in the QRN IPO must purchase a minimum of $2,000 worth of QRN shares. Under the IPO, QLD residents may receive a Loyalty Bonus of 1 share for every 15 shares purchased, up to a maximum of 675 Loyalty Bonus Shares. Alternatively, non-QLD residents may receive a Loyalty Bonus of 1 share for every 20 purchased, up to a maximum of 500 Loyalty Bonus Shares. To be entitled to receive the Loyalty Bonuses you must hold the shares continuously until 7 December 2011 from the IPO. QRN shares are expected to commence normal trading on the ASX on 1 December 2010, with a market capitalisation value of between $6.1 billion to $7.3 billion.

If you wish to participate in the QRN IPO, you will need to express interest to your Investment Advisor and state the amount you wish to apply for. There is no guarantee that you will receive the allocation that you apply for. You should consider the Share Offer Document when deciding whether to acquire QRN shares. An electronic link to the document can be found at: QR National Share Offer Document<https://qrnshareoffer.com.au/Content/PDF/OfferDocument/PDF_Share_Offer_Document.pdf>

[ozbob]

Courier Mail --> Andrew Fraser rejects criticism of QR National float and share price

[ozbob]

Courier Mail --> QR National float gains investor interest despite warnings on share price

[ozbob]

From ABC - Inside Business -17th October 2010 --> Fund manager rules out Queensland Rail sale investment  youtube vid

[colinw]

Brisbane Times -> Qld treasurer urges fed rail sale backing

Brisbane Times => Gillard should get behind QR sale: Queensland Treasurer

[ozbob]

Treasurer and Minister for Employment and Economic Development
The Honourable Andrew Fraser
29/10/2010

Abbot Point Coal Terminal sale process begins

Queensland Treasurer Andrew Fraser today invited expressions of interest from potential bidders for the 99-year lease of the X50 Abbot Point Coal Terminal, Australia's most northerly coal port.

Mr Fraser said the Port of Abbot Point is one of Australia's most strategically important mineral export sites.

"The Abbot Point Coal Terminal services the engine room of Australia's coal producing region, the Bowen Basin, and is the most accessible port for the, as yet, largely un-tapped Galilee Basin," Mr Fraser said.

"The Terminal is currently being expanded from 21mtpa to 50mtpa, more than doubling its capacity.

"This lease offers investors a fully contracted business with long term take-or-pay contracts.

"This is a nationally significant piece of commercial infrastructure that will be best developed and expanded by the private sector.

"Our market soundings show we can expect strong interest from both specialist trade buyers linked to the coal mining industry and infrastructure and pension funds," Mr Fraser said.

Mr Fraser said the lease of the Abbot Point Coal Terminal was another example of the Government's commitment to focus on public infrastructure and allowed the private sector to take on the job of expanding and developing its own export infrastructure.

"As a former North Queenslander myself, I know how important it is for the Government to focus on building hospitals and roads in this region, rather than expanding and operating a coal terminal.

"Running coal terminals is a job for the private sector. Our reforms will allow that to happen," he said.

Mr Fraser said the 99-year lease would ensure the Port land and the existing jetty and wharves would remain owned by the State.

"The State will also retain ownership of all future expansion sites in the Port of Abbot Point."

The competitive bidding process will involve three stages.

   1. Expressions of interest will be sought from suitably qualified parties.
   2. Bidders will then be shortlisted and asked to provide indicative bids.
   3. Bidders will then undertake detailed due diligence assessments before providing the State with their final binding bids.

Mr Fraser said, in accordance with our timetable, the State expects to finalise the lease and announce the winning bid next year, subject to market conditions.

Further information on the lease of the Abbot Point Coal Terminal is available at www.qld.gov.au/assetssale.

[ozbob]

Courier Mail --> Lance Hockridge's world trip promotes QR float

[ozbob]

Brisbanetimes --> Advisers wary of QR's big price tag

[ozbob]

Brisbanetimes --> Americans climb aboard QR National roadshow

[colinw]

The Australian -> Bligh sells Port of Brisbane for $2.3bn

[ozbob]

Treasurer and Minister for Employment and Economic Development
The Honourable Andrew Fraser
10/11/2010

Government announces successful Port of Brisbane transaction

Treasurer Andrew Fraser today announced the signing of documents for the 99 year lease of the Port of Brisbane to the Q Port Holdings Consortium.

Q Port Holdings includes major stakeholders Global Infrastructure Partners (GIP), Industry Funds Management (IFM) and funds managed by QIC Limited (QIC), and a minority stake held by Tawreed Investments Ltd., a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

The sale delivers $2.1 billion in cash proceeds to the Consolidated Fund as well as the new owner agreeing to fund the future upgrade of section 3 of the Port of Brisbane Motorway, at an estimated cost of $200 million.

"The signing of the deal represents $2.3 billion worth of value to the Queensland taxpayer with the future development of the Port now the responsibility of a quality consortium," Mr Fraser said.

"By achieving this value-for-money transaction, taxpayers will also avoid expected infrastructure expansions at the Port worth up to $1 billion.

"We are in the marketplace for the upgrade of the Port of Brisbane Motorway up to Pritchard Street now, and this deal will deliver the next extension of this state owned road.

"This is a quality group of investors with the skill and balance sheet to ensure the future development of the port. It includes leading players in port and airport operations and two of Australia's largest superannuation fund managers.

"GIP, IFM and QIC each hold equal stakes of circa 27%, with the remaining minority stake held by ADIA."

"Collectively the consortium has interests in port terminals across eight countries and it has the right credentials for owning and operating the Port into the future.

"Two of the four members, IFM and QIC, are also shareholders in the Brisbane Airport - demonstrating their faith in the economic development of the Australia Trade Coast precinct of which the Port of Brisbane is a key component.

"These investors are voting with confidence in the future of the South-East corner's economy by increasing their exposure to its transport requirements."

Brisbane Airport has grown from 5,000 employees in 1996 to 17,000 today with $1.2 billion in investment since it was privatised by the Howard Government, Mr Fraser said.

By leasing the Port, Queensland will retain ownership of the Port land and key infrastructure such as the Port's wharves and Multimodal Terminal - but transfer the expense and risk of operating a commercial shipping Port to the private sector.

As previously announced, under the terms of the lease recreational boat harbours like Sandgate and Manly have been removed from the business and will remain in public ownership, and there will be no changes to fishing and boating activities within the Brisbane River or Moreton Bay.

The Port of Brisbane Pty Ltd employs about 330 employees. All Award, and equivalent, employees have been given a commitment that their current terms and conditions will be maintained for the life of their enterprise bargaining agreements.

As well, all award staff have employment guarantees for the coming three years and will not experience any interruption to their continuity of service or accrued entitlements

The State Government will retain the role of Harbour Master through Maritime Safety Queensland and continue its responsibilities in relation to safety, security and the movement of ships within the Moreton Bay shipping channel and Brisbane River.

==============================================================

[Jonno]

Excellent.  First piece of business for the new owners is to thank the existing Chairman for all his hard work but find someone new as he is so anti-rail it has stopped the progression of Dry Ports in Brisbane.

[mufreight]

The Transport Minister, the Premier and the Toy Boy Treasurer are conspicuous in their silence of if the QR float was successful, or has the float like the Titanic sunk?

[frereOP]

The Transport Minister, the Premier and the Toy Boy Treasurer are conspicuous in their silence of if the QR float was successful, or has the float like the Titanic sunk?

There has been some information like how much per share ($2-50 - $3.00 IIRC) which values the company at about $7billion or so.

In any case, there are protocols that need to be followed and spruiking the success of the float before it closes and shares are listed on the ASX may well be illegal.

[mufreight]

Doing things of questionable legality like selling OUR assets has not stopped them before so why now, methinks the float has not been to their expectations otherwise they would be crowing about it now, if they do not get a decent uptake the rail privatisation will be effectively do a Titanic and become this countries biggest bottom of the harbour financial deal in history.
When is the election? 

[Dean Quick]

When is the election? 

Careful what you wish for!!
The opposition have been conspicuous in their silence on this issue. A few statements opposing the asset sales does not convince me that they would not do the same. I firmly believe that a good gov't is the result of an effective opposition.

[mufreight]

Even the Greens could not be worse, the LNP has stated that there will be no further sales which I would understand means that no further shares in QR would be sold and comment has been made that such shares that had been sold and came on the market would be repurchased by a LNP government, buying back the farm so to speak.

[Dean Quick]

I am dead against the asset sales, but, its Hard to believe that promise when,

12 years Under John Howard not 1 cent spent on public transport.
Campell Newman spending billions on ROAD tunnels.
Current federal opposition leader not interested in rail.

The conservative side of politics has a WOEFUL track record with public transport especially when it comes to rail.

[justanotheruser]

Doing things of questionable legality like selling OUR assets has not stopped them before so why now, methinks the float has not been to their expectations otherwise they would be crowing about it now, if they do not get a decent uptake the rail privatisation will be effectively do a Titanic and become this countries biggest bottom of the harbour financial deal in history.
When is the election? 

there is nothing slightly illegal about the government selling assets.  if there was don't you think all these unions would have pooled resources and taken it to court? Not just here but in other states as well.

Ok so it was labor who abolished the upper house anyway after the referendum they held came back no. That seems highlyquestionable.

Careful what you wish for!!
The opposition have been conspicuous in their silence on this issue. A few statements opposing the asset sales does not convince me that they would not do the same. I firmly believe that a good gov't is the result of an effective opposition.

can't have effective opposition without an upper house

Even the Greens could not be worse, the LNP has stated that there will be no further sales which I would understand means that no further shares in QR would be sold and comment has been made that such shares that had been sold and came on the market would be repurchased by a LNP government, buying back the farm so to speak.

I personally would take this to mean that they will not sell any more assets but won't stop ones where the sale is already happening or has happened. Fact is that the asset sales will be over before an election unless something major happens. The last election was March last year and with a three year term it is 2012 before a new election. So anything that may have been said by politicians is just posturing knowing full well they won't have to live up to it. I reckon secretly the LNP is happy with asset sales. perhaps I'm wrong but having been involved in politics I am aware that often they do come out objecting to something they support because they know it will be popular to do so and the election is too far off for them to be held accountable.

[frereOP]

Doing things of questionable legality like selling OUR assets has not stopped them before so why now, methinks the float has not been to their expectations otherwise they would be crowing about it now, if they do not get a decent uptake the rail privatisation will be effectively do a Titanic and become this countries biggest bottom of the harbour financial deal in history.
When is the election? 

Firstly, selling the assets IS NOT illegal.  It might or might not be immoral for a government to sell us something we already own  - and that is a value judgment for you to make - but it is perfectly legal for them to do so.

Secondly, I have a real problem with governments holding onto assets they don't need when the money tied up in them could be put to better use.  The only reason there is so much opposition to the asset sale is because unions realise their members will now have to justify their existence and actually start working for their pay.  That's not a bad thing.

This sale is not only justified, it is necessary for the long term benefit of QR National.  Compare this sale to QANTAS, Commonwealth Bank, Telstra and a host of other government businesses which have enabled those companies to go from strength to strength.  Something they would never have been able to do as a GOC.

[mufreight]

Sorry FrereOp but as a taxpayer I disagree, the sale of assets is not justified as you assert.

This sale is not only justified, it is necessary for the long term benefit of QR National.  Compare this sale to QANTAS, Commonwealth Bank, Telstra and a host of other government businesses which have enabled those companies to go from strength to strength.  Something they would never have been able to do as a GOC.

This government was elected to provide the services and infrastructure that we as taxpayers pay taxes for government to provide.

With the passing of the GFC there is no longer justification for this government to sell off OUR assets, the government did not seek a mandate to do so prior to the last election and in the face of the opposition of some 80% of the states voters must be political suicide, if this incompetent and duplicit government has any integrity they would have before taking this path of total rejection of Labor principals and selling off revenue producing assets either held a referendum to gain a mandate from the actual owners of the assets to sell them.

This did not happen simply for the same reason that they did not declare their intentions prior to the election, the voters of this state would not approve and they would not have been elected.