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September 15, 2015 digital edition.pdf


BUSINESSLINK Indian Newslink September 15, 2015 16 Coast still not clear for export trade Stephen Toplis New Zealand’s terms of trade rose 1.3% in the second quarter. This was against market and our expectations of a reasonable fall. Despite being a sizeable upside surprise on the day, we would not overstate its significance. The terms of trade is the ratio of export prices to import prices. A lot of the surprise, to us at least, was higher export prices in the quarter. But it looks to be more an issue of timing than substance. Export prices rose 2.1% in the quarter, underpinned by a 6.0% increase in dairy prices. The latter appears to be associated with a short and sharp dairy price spike earlier in the year, which rapidly reversed course over the following months. That unwind will show up in the terms of trade statistics in the third quarter and, to a lesser extent in the fourth quarter. Purchasing power down This is despite the positive bounce in the mid-August dairy auction and the decent follow up gain we expect in the next auction. While we are constructive on dairy prices over the year ahead from their current very low levels, any gains, if they indeed occur and are sustained, will only fully show up in the statistics in 2016. Despite the quarterly jump, export prices overall were 8.1% lower than a year ago. A lower terms of trade represents a reduction in the nation’s purchasing power. That is clear on the export side. Lower prices equal lower incomes. But the reduction in purchasing power over the past year is not only confined to exporters. Weakening currency A lower terms of trade is often associated with a weakening currency. That has certainly been the case this time around with the New Zealand Dollar down 15% over the past year or so on a TWI basis, including a full 44% against the generally stronger US Dollar. While a lower New Zealand currency helps support exports, it also adds general upwards pressure to import prices. Higher import prices are a drag on domestic purchasing power. Import prices did rise 0.7% in Q2, but were still 3.9% lower than a year ago. The annual decline more than accounted for by the massive drop in international oil prices over that period. Eroding confidence We remain of the view that the terms of trade will deteriorate into year’s end. Rapidly eroding business and consumer confidence over recent months add support to the idea that the terms of trade is weakening into the second half of 2015 after its first half fillip. They also add to the case to nudge interest rates lower. Looking into 2016 we anticipate both export and import prices to rise, as the lagged effects of a lower New Zealand Dollar filter through (and international commodity prices find some support). This is important from an inflation perspective. The general economic support and inflationary pulse that the lower currency offers is one reason we are a bit cautious in how far the Reserve Bank of New Zealand (RBNZ) may actually cut the Official Cash Rate (OCR). We should not get too downbeat on the terms of trade either. Even if our weak second half 2015 story pans out, the index would still be only 12% down from what was a 41 year high in the middle of 2014. The ongoing, and broadening, strength in residential property prices is another reason for the central bank to be at least a little cautious on cutting the OCR aggressively. Quoted Value Today’s QV data is the latest to not only affirm strong annual house price inflation, at 11.3% y/y on this measure, but also the growing tendency of house prices to be inflating outside of Auckland and Canterbury. Take Hamilton for example. Its annual house price inflation picked up to 10.3% in August, based on a 5.7% increase over the last three months alone. This is all the more interesting given Hamilton is the capital of Waikato, an area overweight the (distressed) dairy industry. Spill-over effects Such Aucklandspill-over effects are probably being encouraged by investor money beginning to tilt away from Auckland (where investors are becoming subject to a 30% deposit minimum, essentially up from the 20% minimum that’s been in place since late 2013). With this, there are signs the Auckland market may be losing some of its fervour, although it is not yet conclusive in the anecdote. And certainly not from the latest QVNZ numbers, which had Auckland’s house price inflation up to 20.4%, from 18.8% in July. South goes north What we can probably say with some confidence now is that housing price pressures in Canterbury have largely peaked. This is as high homebuilding activity begins to get on top of the big supply squeeze, post quakes. Not only are home prices broadly flattening off, even easing a bit, but rents are following a similar pattern. But when we step back, and add it all up, we have to wonder what has changed over recent months to have given house price inflation such a further nudge, overall, especially with increasing talk of recession risk? Lowering lows in interest rates would seem to fit the bill. * Free / Immediate INR remittance facility to any bank branch in India * No deduction of charges by the receiving bank in India * No restriction on the amount of remittance * Hassle-free remittance - no requirement to visit the bank for remittance * Nominal charges for inward remittance from India to our account holders * We open zero balance accounts * No maintenance charges / No Cash Withdrawl / Deposit Charges * Monthly 2 Free INR remittances to any bank branch in India * Recurring deposit accounts for higher rate of interest. 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OUR YOUNG ENTREPRENEURS Rahul Sirigiri Rahul Sirigiri is General Manager of Link 2 Group. He is responsible for the long term growth and development of the privately owned family business.Having worked with the company for eight years, Rahul has an in-depth knowledge of all elements of the business from the importance of correctly labelling a client’s product to preparing strategic business plans. Facilitating growth He has been responsible for developing new roles that were required to facilitate company growth, including mentoring his wife Jaya into the position of Financial Manager. This has necessitated learning to let go of tasks, and establishing effective and efficient reporting systems that give him a clear picture of performance and progress.Rahul’s ambition is enhanced by his reliability, trustwor thiness and intuition. Client accolades Client feedback describes him as proactive and Ronita Sharma Seeing men and women happy, healthy and beautiful has been my ambition since my formative years and I am happy that Forever Shine Beauty Therapy is providing me the opportunity to fulfil my ambition. I want to be known for innovation and spirit of adventure in this competitive industry. In addition, I would like my ‘International College of Beauty’ to become a sound training ground for celebrities and young men and women to establish their own beauty clinics throughout New Zealand and possibly throughout the world. Good Skincare A primary objective of Forever Shine Beauty Therapy is to make people understand the importance of maintaining the health of their skin and providing them appropriate treatment. The modern style of living, dietary habits and strain affect the human skin. In addition, the weather conditions in New Zealand also create skin problems among many. These must be addressed early and with proper care. Ranitesh Singh Ranitesh Singh is currently a Project Manager with Pacific Engineering Projects Ltd (PEP). Following high school studies at the prestigious Natabua High School in Fiji, Ranitesh successfully pursued a Bachelor of Mechanical Engineering degree at the Regional Engineering College in Bhopal, India.After a short stint at Telesource Fiji Ltd, he joined Robt Stone & Company Ltd in Fiji, reporting to his current colleague Shishir Malaviya (a Senior Manager with PEP). Ranitesh is part of the senior manage-ment team. In his role as Project Manager, he has autonomous responsibility for multimillion dollar international projects. He has recently returned to Auckland from Apia, Samoa where he saw the successful completion of the construction of three off- 2000 metric tonne fuel storage tanks. He has now turned his attention to the design and construction of a 4000 metric tonne gasoil Nishant Pratap The youngest child of the (late) Satendra and Swaran Pratap, Nishant Pratap is Branch Manager at Pacific Engineering Projects Limited (PEP). Following his graduate degree in Engineering Technology at the University of the South Pacific Suva, Fiji, he worked briefly at Edison Consultants and Robt Stone & Company Ltd. Nishant has been with PEP since inception and is now responsible for projects undertaken by the Branch. Among the ongoing projects include construction of a one million litre potable water reservoir in Labasa.He had earlier led the PEP team in installing and commissioning a 3500m underground high voltage power (33,000 volts) cable between a substation and a power station in Honiara, Solomon Islands. Nishant has delivered projects for PEP in Samoa, American Samoa and Fiji.There are projects in Fiji that are run by dedicated project managers from the Auckland dedicated.“From the time Rahul bought the business from the previous owner till now, I have seen him put 110% effort in and can categorically state that the business has improved and flourished under his ownership!” Les Hodge of General Issue Supply Company said.As a problem solver, Rahul’s experience has given him the ability to quickly identify solutions that generate profitable outcomes for all parties. Being prepared to offer flexible solutions in a timely manner has developed long term loyalty from customers.This is evident from the consistent increase (19%) in the average number of customers throughout the past three years and increase in sales per customer (104%). Rahul is customer focused and his willingness to listen ensures that the Company delivers what clients want, when they want it. Understanding client requirements sparks his entrepreneurial spirit and he can identify new opportunities to improve the business model of Link 2 Group. Holistic Approach I am glad that our holistic approach to health and beauty is considered a refreshing experience, while our honesty and integrity are the best attributes of our business. From threading to facials to waxing (including Brazilian waxing), trimming and perming, Forever Shine Beauty Therapy offers varied services, with a proper understanding of individual clients and their needs. Today, I feel gratified that my long list of clients includes television personalities, actors, models, students and even Rugby players.The joy of seeing people glowing and smiling as they leave the precincts of ‘Forever Shine’ is inexplicable. There is a certain state of satisfaction, which cannot be reached with money alone. The Award I was honoured to win the ‘Best Businesswoman of the Year’ Award (2014) at the Indian Newslink Indian Business Awards Presentation Night held at Sky City Convention Centre on November 24, 2014. storage tank in Suva, Fiji. Ranitesh has earned the respect of his peers and clients. PEP ensures he maintains his competency by proving training through short courses, webinars and technical literature. Ranitesh also mentors younger engineers. In Samoa, he had 2 graduate Fijian engineers learning the technical skills on the job in addition to the company’s internal business procedures. In Fiji he providesd mentoring for other graduates based out of our Fiji branch. Ranitesh has developed the jacking method of erecting large steel vertically welded storage tanks for PEP. PEP is proud of its technical and administrative team, their competence and commitment to high standards of professionalism. The company has gained several prestigious contracts from many major organisations in the countries of the South Pacific, often against tough competition from international companies and multinationals. office. Nishant’s role is also to ensure a speedy response to all PEP’s customers in Fiji. The company enables him to update and hone his skills through short term course, webinars and technical literature. PEP encourages all staff to keep abreast of the current standards and practices in the industry. Nishant also mentors the company’s younger engineers. In addition to the Branch Manager, the Fiji office of PEP has a team of five engineers and two expat contractors. Nishant lives the PEP motto: “Entrust it to us. We will deliver.” Pacific Engineering Projects Limited (PEP) has seen evolution on a large scale; from asingle person to a company of significant size and stature serving some of the biggest national and international companies in several countries. The Company has qualified personnel, including highly experienced engineers, project managers and other staff at its offices and on all sites Indian Newslink September 15, 2015 We are currently in process of procuring staff for our logistic contract services for various clients in and around Auckland. The company is extremely focussed and committed in providing the services very efficiently to cater the needs of industry and has been very reputed in maintaining the standards over years. As part of team procuring we encourage reliable/sincere/honest and hardworking people interested to be part of it, to apply for the jobs of warehousing staff. Candidates with experience in relevant areas of work as below are welcome to register their interest with us. • People with Warehouse/Container Devanning knowledge and/or • People experienced and holding a current fork hoist licence and/or • People experienced and holding a valid High Reach Hoist and/or • Truck loading experience Ideally have warehousing experience in Picking/Packing (Training provided as/if required) Be accurate and a fast learner to fit in any warehousing job needs. Must be prepared for having a clear Ministry of Justice Check Must be prepared for being able to pass a drug & medical check Be a NZ resident or have a valid NZ visa to work. Be able to provide two work references. If you are interested in any of the positions and believe you fit in the criteria, please submit your CV online to or phone Shaggy for more information on 0272316280 Our Locations: 29C Mt Eden Road, Eden Terrace, Auckland Phone (09) 3580830 Website: Facebook: forevershinebeautytherapy DECADES OFENGINEERING AND CONSTRUCTION EXPERIENCE Pacific Engineering Projects Ltdis an Auckland, New Zealand based engineering and construction company. The company is guided by its motto Entrust ittous-We will Deliver. PEP will meet its service commitments as they will not leave anything to chance intheir ongoing pursuit toensure the customers goals and objectives are fully realized. INDUSTRIES Energy Oil and gas Fish Processing Water and Waste water Petrochemical and Chemical Mining and Mineral Processing Power Generation and Distribution DECADES OFENGINEERING AND CONSTRUCTION EXPERIENCE Pacific Engineering Projects Ltdis an Auckland, New Zealand based engineering and construction company. The company is guided by its motto Entrust ittous-We will Deliver. PEP will meet its service commitments as they will not leave anything to chance intheir ongoing pursuit toensure the customers goals and objectives are fully realized. INDUSTRIES Energy Oil and gas Fish Processing Water and Waste water Petrochemical and Chemical Mining and Mineral Processing Power Generation and Distribution LINK 2 GROUP email: LINK 2 GROUP 47 Allens Road East Tamaki, Auckland 2013 P.O. Box 217206 Botany Junction, Auckland 2164 Phone (09) 272 4700 • Fax (09) 272 4699 email: Link 2 Services Limited is involved in providing clients with different contracting services in warehousing, assembly and packaging industries. Apparel Solutions is no ordinary logistics operation. We have become a single point of contact for many companies to co-ordinate critical aspects of major projects WAREHOUSING / LOGISTICS • STORAGE / DISTRIBUTION • REWORKS (OFFSITE / ONSITE) • LABELLING / STICKER APPLICATION • RECYCLING / PRODUCT SORTING • IMPORTS / EXPORTS • RECRUITMENT COUNTRIES New Zealand, Fiji, Samoa, American Samoa, Solomon Island, Cook Islands, Vanuatu and Papua New Guinea. “Entrust ittous–We will Deliver” Website: COUNTRIES New Zealand, Fiji, Samoa, American Samoa, Solomon Island, Cook Islands, Vanuatu and Papua New Guinea. “Entrust ittous–We will Deliver” Website: Email: Email: PRODUCT AND SERVICES Construction Design and Build Project Management Turnkey Construction Shutdown Maintenance Supply of Fabricated Products Project Management Consultancy PRODUCT AND SERVICES Construction Design and Build Project Management Turnkey Construction Shutdown Maintenance Supply of Fabricated Products Project Management Consultancy 17

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