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Asia

Australian Shares Flat; FleetPartners Group Receives Three Revised Acquisition Proposals

Australian shares were flat on Monday, as spiking oil prices stoked inflation fears.The S&P/ASX 200 Index was little changed to close at 8,749.90.Brent crude oil futures ​rose again to trade over $107 per barrel, amid fresh strikes on Saudi Arabia and on ships in the Persian Gulf, which came after a key Saudi oil pipeline was attacked.On the domestic front, Australia's consumer price index (CPI) is expected to rise 0.4% in August from the previous month, which would increase the annual pace of inflation to 4% from 3.5% in July, Westpac said.In company news, FleetPartners Group (ASX:FPR) said it received three revised acquisition proposals, including a AU$4.55 per share offer from SG Fleet Topco, AU$4.65 per share from Orix, and AU$4.65 per share from the Sumitomo consortium.HealthCo Healthcare and Wellness REIT (ASX:HCW) said the requisite support has been obtained from Healthscope's lenders for the transfer of 10 Healthscope hospitals owned by the company and the Unlisted Healthcare Fund to alternative hospital operators.Lastly, Cleanaway Waste Management (ASX:CWY) said EQT Infrastructure remains committed to pursuing its proposed acquisition of 100% of the company's shares at no less than the indicative offer price following its due diligence review.

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Asia

Update: Cleanaway Waste Management Says EQT Infrastructure Remains Committed to Takeover; Shares Rise 4%

(Updates with the stock movement in the headline and last paragraph.)Cleanaway Waste Management (ASX:CWY) said EQT Infrastructure remains committed to pursuing its proposed acquisition of 100% of the company's shares at no less than the indicative offer price following its due diligence review, according to a Monday filing with the Australian bourse.The hard exclusivity period has now ended, with EQT continuing its confirmatory due diligence as both parties work towards finalizing an implementation deed, per the filing.Cleanaway Waste Management noted that there is no guarantee the proposal will lead to a binding transaction and that shareholders are not required to take any action at this stage, the filing added.The company's shares gained nearly 4% in recent Monday trade.

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Asia

Cleanaway Waste Management Says EQT Infrastructure Remains Committed to Takeover

Cleanaway Waste Management (ASX:CWY) said EQT Infrastructure remains committed to pursuing its proposed acquisition of 100% of the company's shares at no less than the indicative offer price following its due diligence review, according to a Monday filing with the Australian bourse.The hard exclusivity period has now ended, with EQT continuing its confirmatory due diligence as both parties work towards finalizing an implementation deed, per the filing.Cleanaway Waste Management noted that there is no guarantee the proposal will lead to a binding transaction and that shareholders are not required to take any action at this stage, the filing added.

ASX:CWY
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Thursday.St Barbara (ASX:SBM): 33.6 million sharesLiontown Resources (ASX:LTR): 21.1 million sharesEQ Resources (ASX:EQR): 10.8 million sharesArafura Rare Earths (ASX:ARU): 10.7 million sharesCleanaway Waste Management (ASX:CWY): 10.6 million shares

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Asia

Cleanaway Waste Management Fiscal 2026 Underlying Earnings, Revenue Rise

Cleanaway Waste Management (ASX:CWY) logged AU$0.10 in underlying EPS for fiscal 2026, compared with AU$0.088 a year ago, a Thursday filing showed.Analysts polled by FactSet expected AU$0.10.For the 12 months ended June 30, net revenue was AU$3.74 billion versus AU$3.30 billion previously, the Australia-listed resource recovery company added.The board declared a final dividend of AU$0.035 per share, up from AU$0.032 a year earlier, payable Oct. 8 to shareholders on record as of Sept. 14.For fiscal 2027, the company expects underlying EBIT of AU$500 million to AU$530 million.

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Asia

Cleanaway Waste Management's Slow Growth Helps EQT's Bid, Says Jefferies

Cleanaway Waste Management's (ASX:CWY) fiscal 2027 guidance suggests earnings improvement will take time, which could benefit EQT Infrastructure by allowing it to acquire the business before the recovery is fully reflected in its valuation, according to a Thursday Jefferies note.The company on Thursday said it received a conditional, non-binding indicative proposal from EQT Infrastructure to acquire all of the company's shares through a scheme of arrangement at AU$3.13 apiece.The company's fiscal 2027 earnings before interest and taxes (EBIT) guidance range of AU$500 million to AU$530 million is below estimates, and therefore this bid does insulate shareholders from another disappointing result, while supporting the Board's intention to recommend, Jefferies said."Cleanaway has continued to disappoint relative to market expectations over the last five years. EQT's approach is therefore understandable, given the option to make changes to the business and deliver stronger cash flow growth in the medium-term.", the note added.Jefferies kept a buy rating on Cleanaway with a price target of AU$3.05.

ASX:CWY
Asia

Australian Shares Fall; ANZ Group Fiscal Q3 Cash Profit Rises, Operating Income Declines

Australian shares fell on Thursday as investors reacted to the latest US inflation data.The S&P/ASX 200 Index fell 0.23%, or by 20.90 points, to close at 9,188.50.Overnight on Wall Street, the S&P 500 rose 0.3%, and the Nasdaq gained 0.5%. The US consumer price index data was in line with expectations, tamping down expectations of near-term Federal Reserve rate hikes.Brent crude futures ​fell to trade around $88 per barrel, with no signs of any movement in negotiations between Iran and the US on resolving the conflict.In company news, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) logged AU$1.901 billion in cash profit for fiscal Q3, up 2% from a year ago. For the three months ended June 30, operating income was AU$5.607 billion, down 1%.Cleanaway Waste Management (ASX:CWY) received a conditional, non-binding indicative proposal from EQT Infrastructure to acquire all of the company's shares through a scheme of arrangement at AU$3.13 apiece. The board agreed to give EQT Infrastructure nine weeks of exclusive due diligence and negotiate a scheme implementation deed to agree a binding transaction. Its shares rose 14% earlier in the session.Lastly, Telstra Group (ASX:TLS) logged AU$0.204 in underlying EPS for fiscal 2026, compared with AU$0.191 a year ago. For the 12 months ended June 30, total income was AU$23.41 billion versus AU$23.61 billion previously.

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Asia

Update: Cleanaway Waste Management Receives Indicative Takeover Bid From EQT Infrastructure; Shares Rise 14%

(Updates with the stock movement in the headline and last paragraph.)Cleanaway Waste Management (ASX:CWY) received a conditional, non-binding indicative proposal from EQT Infrastructure to acquire all of the company's shares through a scheme of arrangement at AU$3.13 apiece, according to a Thursday filing with the Australian bourse.The board agreed to give EQT Infrastructure nine weeks of exclusive due diligence and negotiate a scheme implementation deed to agree a binding transaction, the filing said.The directors intend to recommend that shareholders vote in favor of the scheme of arrangement in the absence of a superior proposal and subject to an independent expert continuing to conclude that the proposal is in their best interests.The company maintained its fiscal 2026 underlying earnings before interest and taxes (EBIT) guidance of roughly AU$470 million, per the filing.It also expects to deliver fiscal 2027 underlying EBIT of AU$500 million to AU$530 million.Cleanaway Waste Management shares rose 14% in recent Thursday trade.

ASX:CWY
Asia

Cleanaway Waste Management Receives Indicative Takeover Bid From EQT Infrastructure

Cleanaway Waste Management (ASX:CWY) received a conditional, non-binding indicative proposal from EQT Infrastructure to acquire all of the company's shares through a scheme of arrangement at AU$3.13 apiece, according to a Thursday filing with the Australian bourse.The board agreed to give EQT Infrastructure nine weeks of exclusive due diligence and negotiate a scheme implementation deed to agree a binding transaction, the filing said.The directors intend to recommend that shareholders vote in favor of the scheme of arrangement in the absence of a superior proposal and subject to an independent expert continuing to conclude that the proposal is in their best interests.The company maintained its fiscal 2026 underlying earnings before interest and taxes (EBIT) guidance of roughly AU$470 million, per the filing.It also expects to deliver fiscal 2027 underlying EBIT of AU$500 million to AU$530 million.

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Asia

Cleanaway Waste Management CFO Appointment Seen as Positive, Earnings Growth Outlook Remains Intact, Jefferies Says

Cleanaway Waste Management (ASX:CWY) received a positive view from Jefferies following the appointment of a new chief financial officer and reaffirmation of fiscal 2026 earnings before interest and taxes (EBIT) guidance, while the broker lowered fiscal 2027 earnings forecasts due to fuel cost uncertainties and higher finance costs, the research firm said in a Wednesday note.The company's incoming CFO Nigel Simonsz brings broad commercial and operational experience, with Jefferies saying his capital allocation and cash flow focus should support the BluePrint 2030 2.0 strategy.The research firm said the company's fiscal 2026 underlying EBIT guidance of about AU$470 million is slightly above expectations and reflects strong execution, exceeding its prior AU$450 million target after adjusting for acquisitions and fuel impacts.Jefferies cut its fiscal 2027 EBIT forecast to AU$534.4 million from AU$560.8 million due to fuel cost uncertainty, Middle East risks and higher interest rates lifting net finance costs to AU$170 million.It kept its fiscal 2026 net profit after tax forecast unchanged but reduced its fiscal 2027 and fiscal 2028 estimates by 9% and 2.9%, respectively, while maintaining a positive view on double-digit earnings growth, strong cash flow and valuation support.Jefferies maintained its buy rating on Cleanaway Waste Management but lowered the price target to AU$3.05 from AU$3.21.Cleanaway Waste Management's shares added about 2% in recent Thursday trade.

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Asia

Cleanaway Waste Management Appoints Nigel Simonsz as CFO

Cleanaway Waste Management (ASX:CWY) appointed Nigel Simonsz to succeed Paul Binfield as chief financial officer, effective July 27, according to a Wednesday filing with the Australian bourse.Binfield is stepping down after more than five years with Cleanaway but will remain with the company through the first half of fiscal 2027 to support the transition process, per the filing.Simonsz previously served as group CFO and CEO of United Petroleum.Additionally, Cleanaway said it expects fiscal 2026 underlying earnings before interest and taxes of about AU$470 million, around the midpoint of its guidance range.

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Asia

Cleanaway Waste Appeals Victorian Supreme Court's Decision Regarding Historical Landfill Levy Underpayment

Cleanaway Waste Management (ASX:CWY) lodged an appeal of the Victorian Supreme Court's decision regarding the historical underpayment of landfill levy at the Melbourne Regional Landfill in Victoria for the fiscal year 2018, according to a Friday Australian bourse filing.The firm plans to take a AU$27.5 million provision for the relevant fiscal year 2018, fiscal year 2019, and fiscal year 2022 levies, as well as assessed costs and accrued interest, which it will treat as an underlying adjustment.The landfill levy underpayment amount for the fiscal year 2018 is AU$6.9 million. The EPA undertook audits for fiscal year 2019 and fiscal year 2022, claiming underpayments relating to similar products of AU$4.7 million and AU$7.2 million, respectively, the filing added.The cash flow impact for fiscal year 2027 is expected to be around AU$12.3 million, representing payment of the disputed fiscal year 2018 levy amount as well as associated costs and interest.

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Asia

Cleanaway Waste Management 's Kemps Creek Facility Tests Australian Soft Plastic Composition for Cycleback Plastics Initiative

Cleanaway Waste Management (ASX:CWY) said its Kemps Creek facility, through its Cycleback Plastics joint initiative with Viva Energy (ASX:VEA), is providing critical testing and insights to identify the composition of Australian soft plastic materials and assess their suitability for the Cycleback Plastics process, according to a Monday statement.The company said the testing has provided valuable insights into the quality and composition of Australian soft plastic streams while helping inform the design of future sorting and pre-treatment infrastructure.Cycleback Plastics, an innovation by Cleanaway and Viva Energy, is developing an end-to-end recycling pathway for soft plastics in Australia, currently in the feasibility phase with completed work across the value chain, including laboratory validation, pre-treatment testing, pyrolysis trials, and assessment of processing pathways, it added.Viva Energy's shares fell 2% on market close.

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Asia

Cleanaway Waste Management Says Chair to Retire from Board

Cleanaway Waste Management's (ASX:CWY) Chair, Philippe Etienne, decided to retire from the board on June 30, according to a Friday Australian bourse filing.Etienne will be succeeded by Samantha Hogg, per the filing.

ASX:CWY
Asia

Cleanaway Waste Management Chair to Retire

Cleanaway Waste Management (ASX:CWY) said Chair Philippe Etienne will retire at or around the company's annual general meeting on Oct. 22, according to a Friday Australian bourse filing.Independent Non-Executive Director Samantha Hogg has been appointed chair-elect and will assume the role of chair following Etienne's retirement, the filing added.

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Asia

Cleanaway Waste Management Says Victoria Court Rules in Favor Of EPA Regarding Alleged Historical Landfill Levy Underpayment

Cleanaway Waste Management (ASX:CWY) said the Victorian Supreme Court ruled in favor of the Environment Protection Authority (EPA) regarding an alleged historical underpayment of landfill levy at the Melbourne Regional Landfill for the fiscal year 2018, according to a Thursday Australian bourse filing.The alleged landfill levy underpayment amount for the said fiscal year is AU$6.9 million.The regulator brought the proceedings against Cleanaway in order to recover an alleged landfill levy underpayment on materials purchased by the firm from the adjacent Boral quarry for use in landfill operations.Cleanaway's stance was that the type of product purchased from Boral should not be considered "waste" to which landfill levies should apply. It is reviewing the decision and has 42 days to decide whether to appeal the decision.Its shares rose 1% in recent trading on Thursday.

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Asia

Cleanaway Waste Management Fiscal 2027 Free Cash Flow Inflection Point Guidance Encouraging, Says Jarden

Cleanaway Waste Management (ASX:CWY) expects that a 'free cash flow inflection point' will arrive in fiscal 2027, which is encouraging and largely congruent with Visible Alpha expectations, according to a Tuesday Jarden note.The research firm believes that investors are largely taking a "prove it" approach to the improvement in free cash flow to fiscal 2030, which could be demonstrated by the company in the second half of fiscal 2026.Jarden sees the second half of the fiscal year as a critical juncture for Cleanaway to demonstrate that future organic earnings growth can be supported by strong free cash generation, while delivering forecast dividends.Jarden maintained a buy rating on Cleanaway Waste Management with a price target of AU$3.10.The company's shares rose 3% in recent Wednesday trade.

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Asia

Australian Shares Rise; Qantas Airways Raises FY26 Fuel Cost Forecast Expectation to Up to AU$3.3 Billion

Australian shares rose on Tuesday's close as investor sentiment was buoyed by optimism around a peace deal between the US and Iran, even as the US naval blockade of Iran took effect.The S&P/ASX 200 Index climbed 0.5% or 44.80 points to close at 8,970.80, reaching a new 20-day high.US President Donald Trump said Iran had called the White House over a potential peace agreement.Both countries had left room for further negotiations, and there was forward motion on trying to get to an agreement, Reuters reported, citing sources.Brent crude oil futures declined 1.5% to $97.90 per barrel.On the domestic front, the Westpac-Melbourne Institute Consumer Sentiment Index fell sharply around 13% to 80.1 in April from 91.6 in March, as rising fuel prices and interest rates added to cost-of-living pressures and weighed heavily on economic sentiment.Business confidence in Australia fell 29 points to negative 29 in March, its lowest level since April 2020 and one of the sharpest declines since the global financial crisis and COVID-19, following the Middle East conflict, National Australia Bank said in a report.Australia's consumer confidence lifted 2.2 points in the April 6 to April 12 week to 64.5 points, recording its second consecutive weekly rise, while the four-week moving average fell 1 point to 62.2 points, ANZ said in a report.In company news, Qantas Airways (ASX:QAN) now expects fuel cost for the fiscal second half to be AU$3.1 billion to AU$3.3 billion, as February jet refining margins peaked at about $120 per barrel. The airline said it has hedged about 90% of its fiscal H2 crude oil exposure but remains largely exposed to movements in jet refining margins.Cleanaway Waste Management (ASX:CWY) now expects fiscal 2026 earnings before interest and taxes of AU$460 million to AU$480 million, down from a previous range of AU$480 million to AU$500 million, due to the impact of the Middle East conflict. Its shares declined 2% at close.Lastly, Clarity Pharmaceuticals (ASX:CU6) signed a commercial manufacturing agreement for its copper-64 SAR-bisPSMA next-generation diagnostic imaging agent with Nucleus Radiopharma. The agreement includes manufacturing at Nucleus Radiopharma's facility in Rochester, Minnesota. Clarity's shares closed down 5%.

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Cleanaway Waste Management Lowers Fiscal 2026 Earnings Before Interest, Taxes Forecast

Cleanaway Waste Management (ASX:CWY) now expects fiscal 2026 earnings before interest and taxes of AU$460 million to AU$480 million, down from a previous range of AU$480 million to AU$500 million, due to the impact of the Middle East conflict, according to a Tuesday filing with the Australian bourse.As a result of the conflict, actual and forecast direct fuel costs have spiked, and supplier and third-party logistics costs have also increased, while activity has waned in the contract resources business in the Middle East, the company said.Cleanaway estimates a roughly AU$20 million adverse impact on fiscal 2026 earnings before interest and taxes due to the higher costs, per the filing.The company said it has not experienced any fuel supply issues to date, and expects to recover a "substantial portion" of the fuel cost increases over time due to its pricing structures and recovery mechanisms.

ASX:CWY

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