New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>The Australian financial crimes agency AUSTRAC has commenced civil penalty proceedings against SkyCity (SKC) Adelaide for alleged serious and systematic non-compliance with anti-money laundering and counter-terrorism financing (AML/CTF) laws, following an 18 month investigation</li><li>The prospect of SKC incurring a financial penalty is now reasonably high, given the alleged level of wrongdoing and the penalties previously applied by the Federal Court following AUSTRAC initiated civil penalty orders.</li><li>While regulatory risk is likely to continue to dampen investor sentiment for the foreseeable future, trading at ~14x one year forward PE, SKC is firmly in good value territory</li></ul>

The Australian financial crimes agency AUSTRAC has commenced civil penalty proceedings against SkyCity (SKC) Adelaide for alleged serious and systematic non-compliance with anti-money laundering and counter-terrorism financing (AML/CTF) laws, following an 18 month investigationThe prospect of SKC incurring a financial penalty is now reasonably high, given the alleged level of wrongdoing and the penalties previously applied by the Federal Court following AUSTRAC initiated civil penalty orders.While regulatory risk is likely to continue to dampen investor sentiment for the foreseeable future, trading at ~14x one year forward PE, SKC is firmly in good value territory

Skycity Entertainment

SkyCity: A Smack From AUSTRAC