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In Brief: Aspen moves on Monkey Mia resort

THE Yadgalah Aboriginal Corporation and Indigenous Business Australia this week sold their joint 50 per cent partnership interest in the Monkey Mia resort to Aspen Parks Property Management Ltd for $9.5 million, giving Aspen Parks full ownership of the site. WA Business News understands that, in 2005, the Aboriginal and Torres Strait Islander Commission provided $3.2 million to the Yadgalah Aboriginal Corporation to enable it to take a 23 per cent share in the resort. Aspen Parks chief executive Lino Brolese said with total ownership the company would double the capacity of the resort to 1,200 beds. “We will redevelop the property with an emphasis on the family market and recreational resort facilities,” Mr Brolese said. IBA general manager Ron Morony said it was time IBA realised some profits. “We went into this venture with the Yadgalah Aboriginal Corporation to create commercial returns and employment opportunities,” he said. “When you invest in major capital infrastructure projects it takes a few years to realise a return. The Aboriginal partners in this venture decided to cash in while Aspen Parks was planning on developing the resort, so we were of the view that it was time to realise some profits.”

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Aspen Group (APZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
395thAspen Group9%-7%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/10/15
$46k Issued
30/09/15
$260k Bought
30/09/15
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Aspen Group$15.8m
77 listed non wa companies ranked by revenue.
Source: Morningstar

Remuneration from Aspen Group

249thAdam Marrs Ekamper$488k
951stGuy Farrands$112k
1008thClive Appleton$98k
Ranked by total remuneration from all listed WA companies

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