AMP Limited (AMP) said it terminated its exclusivity agreement with AXA SA on Saturday. The company said as the agreement has terminated, AXA SA is no longer an associate of AMP and therefore AMP is no longer a substantial holder in AXA Asia Pacific Holdings Limited (AXA).
National Australia Bank Limited (NAB) said it would announce its FY10 first quarter trading update on Friday, 19 February 2010.
Tag Pacific Limited (TAG) said subject to audit review and finalisation and approval of the results, the group’s net profit after tax and minority interests for the six months to 31 December 2009 is expected to be in the range of $1.5 million to $2 million on revenues of approximately $39 million. The company said in the prior corresponding period the group’s net profit after tax and minority interests was $500,000 on revenues of $46 million. Tag expects to release its half-year results for the half-year in the week ending 26 February 2010.
Amcom Telecommunications Limited (AMM) said subsidiary Amcom Pty Ltd has executed a $20 million five-year contract to provide high-speed fibre based telecommunications services to the Northern Territory Government ("NTG"). The company said the agreement with the NTG would involve Amcom extending its existing fibre networks in both Darwin and Alice Springs to provide data carriage services to government agencies and schools. Amcom said the expansion of its existing Darwin infrastructure would commence this month with Diamond Communications, a subsidiary of Ausdrill Limited (ASL), being appointed as lead contractor for the project. The company estimates that the capital expenditure for Amcom would be in the order of $10 million and is expected to be completed by September 2010.