Category: Australia

MIL-OSI: ThinkMarkets Celebrates Its 15-year Anniversary
Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 13, 2025 (GLOBE NEWSWIRE) — ThinkMarkets, a globally recognized leader in multi-asset online trading, is celebrating 15 years of serving traders worldwide. For over a decade, the broker has provided traders in more than 165 countries with a premium trading experience, combining best-in-class charting, execution, and a multi-asset trading product mix into one offering. To mark this milestone, ThinkMarkets is launching initiatives to thank the people who have been instrumental in its journey and success.

Advancing Global Trading Since 2010
Since its inception, ThinkMarkets has continuously enhanced the trading experience with its innovative platform, ThinkTrader. Continuous investment in server infrastructure and a strong focus on implementing cutting-edge technology have positioned ThinkMarkets at the forefront of the industry, with a commitment to innovation driving its evolution.

Recognizing People and Progress
ThinkMarkets’ growth has been driven by the support of its traders, partners, and employees around the world. To acknowledge their contributions, the company is launching a series of initiatives, including:
- Competitions and giveaways: A year-long calendar of events, competitions, and prizes.
- Media interviews: Exclusive interviews with long-standing personnel, instrumental to the company’s success.
- Reward incentives: New initiatives bring added benefits to its clients and partners.
Commenting on the milestone, Nauman Anees, Co-CEO of ThinkMarkets, said:
“ThinkMarkets started with a vision to build a global financial market trading platform that empowers clients with the best technology. Over the past 15 years, we’ve grown into a global brokerage with a presence in over 165 countries, serving all types of traders. To celebrate this major milestone, we’re launching a series of initiatives that honor our journey and achievements. As we mark 15 years, our commitment to innovation, transparency, and client satisfaction remains clear and will always be at the core of our approach.”

To learn more about its 15-year anniversary, users can visit thinkmarkets.com.

About ThinkMarkets
ThinkMarkets is a global, multi-regulated online brokerage established in 2010, offering clients quick and easy access to 4,000+ CFD instruments across FX, indices, commodities, equities, and more. ThinkMarkets has offices in London, Melbourne, and Tokyo, and hubs in the Asia-Pacific, Europe, and South Africa. It also operates with several financial licenses around the globe and delivers some of the industry’s most recognized trading platforms, including its award-winning platform, ThinkTrader.

Contact

ThinkMarkets
pr@thinkmarkets.com

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/efcfd4c2-f03e-4bbd-a157-b7d74a91c387

The MIL Network –
February 14, 2025
MIL-OSI: Altus Group Releases its Q4 2024 Pan-European Dataset Analysis on CRE Valuation Trends
Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 13, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released its Q4 2024 Pan-European dataset analysis on European property market valuation trends.

Each quarter, Altus Group centralizes and aggregates CRE valuation data for the European market, pulling insights into the factors driving commercial property valuations. The Q4 2024 aggregate dataset included Pan-European open-ended diversified funds, representing €29 billion in assets under management. The funds cover 17 countries and primarily span the industrial, office, retail and residential property sectors.

“The latest data across the Pan-European valuation dataset suggests that real estate markets in parts of Europe are entering a recovery phase, with values now rising for two consecutive quarters after two years of declines,” said Phil Tily, Senior Vice President at Altus Group. “The industrial and residential sectors led the rebound in the fourth quarter of 2024, with yield stabilization and improving cashflows signalling a more positive market outlook moving forward.”

Commercial property values across the Pan-European valuation dataset increased for the second consecutive quarter in Q4, rising 0.8% over Q3, with all sectors seeing gains, albeit with a mixed set of results from a yield and cashflow perspective. Values rose 0.4% overall in 2024, as gains in Q3 and Q4 offset declines from the first half of the year, driven mainly by industrial, residential, and other property categories.

Key highlights by sector include:
- Industrial: The industrial sector was the top performer in Q4 with a 1.0% value increase over Q3 2024 and 1.6% annually. The improvement was supported by a positive pricing adjustment with yields declining, although cashflow fundamentals eased as rental growth slowed during the back end of the year. The largest valuation gains were reported in Germany.
- Residential: Residential values rose by 0.9% in Q4 and 1.4% for the full year – both above average. The improvement was driven by comparatively strong cash flow fundamentals with above-average rent growth. Values in the two largest residential markets in the dataset, the Netherlands and Germany, continued to strengthen, increasing 1.0% and 0.8% respectively in the quarter.
- Office: Office values rose 0.8% over Q3 2024, up for two consecutive quarters now. Further yield expansion, reflecting ongoing investor caution towards the sector, was counterbalanced by strengthening cashflow resulting in office values continuing to rise over the quarter. Sweden was the standout performer in this sector in Q4.
- Retail: After leading performance in Q3 2024, the retail sector saw only modest growth in Q4, with values still rising 0.3%. Rising yields held back values for high street stores and shopping centres, while falling yields for retail warehouses helped boost values by 1.9%.
- Other: Outside of the main sectors, hotels had another strong quarter, with positive investor sentiment driving yield improvements and above-average value growth.
For detailed review of the sector trends by asset class, please click here.

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit www.altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Elizabeth Lambe
Director, Global Communications, Altus Group
+1-416-641-9787
elizabeth.lambe@altusgroup.com

The MIL Network –
February 14, 2025
MIL-OSI United Kingdom: Partnership work leads to trader sentencing in illegal tobacco crackdown

Source: City of Stoke-on-Trent

Published: Thursday, 13th February 2025

A trader in Stoke-on-Trent has been sentenced following a crackdown on illegal tobacco.

The operation was thanks to partnership working between Stoke-on-Trent City Council’s Trading Standards team and Staffordshire Police.

Ismail Mohammed, who ran ‘Waterloo Stores’ at 80 Waterloo Road, Burslem, received a nine-month suspended sentence, 100 hours of unpaid work, and had his tobacco and cash seized.

The sentencing took place on Wednesday, 6 February 2025, at Stoke-on-Trent Crown Court, following Mr. Mohammed’s conviction on 8 July 2024. He pleaded guilty to the possession of criminal property (£6,310 in cash) and to entering into an arrangement to acquire, use, or control criminal property – in this case counterfeit and non-duty-paid tobacco.

It follows a successful investigation which began in 2019, into illegal tobacco sales at the shop, leading to a raid on residential properties in Hanley.

Officers seized 1,390 packs of illegal cigarettes and £17,000 in cash. Undercover test purchases also confirmed illegal tobacco sales at the Waterloo Road store.

Councillor Amjid Wazir OBE, cabinet member for city pride, enforcement and sustainability at Stoke-on-Trent City Council said: “This case is another great example of partnership work making Stoke-on-Trent a safer place. The work carried out by our Trading Standards team sends a clear message—illegal tobacco sales will not be tolerated. Those involved in the storage, distribution, or sale of illicit tobacco will face serious consequences.

“The trade in illegal tobacco harms legitimate businesses, provides a cheap source of cigarettes for children and young people, and undermines efforts to reduce smoking rates. Illegal tobacco sales are also often linked to wider criminal activity.

“Our message is clear, those engaging in crime will be held accountable. We are committed to making Stoke-on-Trent a greener, fairer, cleaner, and safer city for all.”

Inspector Victoria Ison, from the Stoke North local policing team, said: “We are pleased to support the local authority and Trading Standards in their work to disrupt the sale of illegal tobacco and cigarettes.

“These items not only risk public health, but also have a significant impact on legitimate sellers and local businesses who are operating within the law.

“We hope the outcome reassures the community we are committed to working with partners to tackle this issue and associated criminality.”

Mr. Mohammed had previously been prosecuted for selling counterfeit cigarettes at another Stoke-on-Trent shop, where he was fined.

Anyone concerned about illegal tobacco, underage sales, or restricted products such as knives and vapes can report them through the Trading Standards hotline at 01782 238444 or visit www.stoke.gov.uk/tradingstandards

MIL OSI United Kingdom –

February 14, 2025

MIL-OSI: Himax Technologies, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results; Provides First Quarter 2025 Guidance

Source: GlobeNewswire (MIL-OSI)

Q4 2024 Revenues, Gross Margin and EPS All Surpassed Guidance Range Issued on November 7, 2024
Company Q1 2025 Guidance: Revenues to Decrease 8.5% to 12.5% QoQ,
Gross Margin is Expected to be Around 30.5%. Profit per Diluted ADS to be 9.0 Cents to 11.0 Cents

Q4 2024 revenues registered $237.2 million, an increase of 6.7% QoQ, significantly exceeding guidance range of a slight decrease to flat, primarily driven by stronger order momentum across product lines
Q4 2024 Gross margin reached 30.5%, exceeding guidance of flat to slightly up, driven by a favorable product mix and cost improvements. Up from 30.0% in the Q3 2024
Q4 2024 after-tax profit was $24.6M, or 14.0 cents per diluted ADS, considerably above the guidance range of 9.3 cents to 11.0 cents
Company’s full year 2024 revenues were $906.8 million, and gross margin was 30.5%. 2024 profit attributable to shareholders was $0.46 per fully diluted ADS
Company’s Q1 2025 revenues to decline 8.5% to 12.5% QoQ, reflecting the low season demand due to Lunar New Year holidays. The Q1 revenue guidance implies flat to 4.6% increase YoY. Gross margin to be around 30.5%, up from 29.3% same quarter last year. Profit per diluted ADS to be in the range of 9.0 cents to 11.0 cents, implying the increase of 26% to 54% YoY
Himax sales revenues in each quarter of 2024 consistently outperformed guidance, demonstrating its ability to handle most of rush orders, underscoring its strong ability in inventory management and swift market responsiveness
Full year 2024 automotive driver IC sales increased nearly 20% YoY, significantly outpacing global automotive growth, largely driven by the continued TDDI adoption among major customers across all continents. Himax continues to reinforce its market leadership in automotive TDDI, holding well over 50% market share
Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. Small-scale production of the first-gen CPO underway, with acceleration of future CPO generation development, in close collaboration with AI customers/partners. Company believes prospect of CPO remains unchanged
WiseEye, building on the success with Dell, has achieved notable progress with other leading NB brands. Also made breakthroughs in smart door lock, palm vein authentication and smart home. Himax anticipates a strong growth trajectory in WiseEye business in 2025 and beyond
At CES 2025, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR
Rising enthusiasm in AR glasses with Gen AI in CES 2025. Himax offers three critical technologies for AR glasses, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI
Himax is well-positioned to capitalize on the trend of the premium NB to adopt OLED displays and touch features. Confident to lead in the rapidly evolving landscape of AI PCs and premium NB, offering a comprehensive IC portfolio for both LCD and OLED NB

TAINAN, Taiwan, Feb. 13, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, announced its financial results for the fourth quarter and full year 2024 ended December 31, 2024.

“In 2024, our sales revenues in each quarter consistently outperformed guidance. We have consistently demonstrated our ability to handle most of rush orders, underscoring our agility, adaptability, strong capabilities in inventory management, and swift market responsiveness,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

“At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI,” continued Mr. Jordan Wu.

“Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. The prospect of CPO remains unchanged and the widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth,” concluded Mr. Jordan Wu.

Fourth Quarter 2024 Financial Results

Himax net revenues registered $237.2 million, an increase of 6.7% sequentially, significantly exceeding Company’s guidance range of a slight decrease to flat, and up 4.2% year-over-year. Gross margin reached 30.5%, exceeding its guidance of flat to slightly up from 30.0% in the previous quarter, and up from 30.3% in the same period last year. The sequential increase was driven by a favorable product mix and cost improvements. Q4 profit per diluted ADS was 14.0 cents, considerably above the guidance range of 9.3 cents to 11.0 cents, thanks to better-than-expected revenues and improved costs.

Revenue from large display drivers came in at $25.0 million, reflecting a 18.6% sequential decline. The decrease was primarily attributed to continued customer destocking after substantial Q2 replenishment for shopping festivals, as well as heightened price competition from Chinese peers. Sales of large panel driver ICs accounted for 10.5% of total revenues for the quarter, compared to 13.8% last quarter and 14.8% a year ago.

Small and medium-sized display driver segment totaled $166.8 million, an increase of 7.4% sequentially, exceeding its guidance of flat quarter-over-quarter, thanks to stronger-than-expected sales in the automotive and tablet markets. Q4 automotive driver sales, including both traditional DDIC and TDDI, experienced mid-teens increase, significantly outperforming Company’s expectation of a single digit increase, with both DDIC and TDDI showing stronger-than-expected sales. This surge was primarily driven by continued rush orders from Chinese panel customers, carried over from Q3, following the Chinese government’s renewed trade-in stimulus initiative announced in mid-August 2024 to boost automobile consumption. Remarkably, Himax’s Q4 automotive TDDI sales have exceeded DDIC sales for the first time, underscoring the global adoption of Company’s TDDI solutions, which are increasingly essential in modern vehicles, and reflects the growing demand for more intuitive, interactive, and cost-effective touch panel features powered by TDDI technology. Himax’s automotive business, comprising drivers, Tcon, and OLED IC sales, accounted for around 50% of total Q4 revenues. Meanwhile, Q4 tablet IC sales exceeded the guidance of a low teens decline, with sales up slightly sequentially driven by rush orders from leading end customers. Q4 smartphone IC sales declined slightly, in line with its guidance. The small and medium-sized driver IC segment accounted for 70.3% of total sales for the quarter, compared to 69.9% in the previous quarter and 71.6% a year ago.

Fourth quarter revenues from its non-driver business reached $45.4 million, exceeding the guidance range, with a 24.9% increase from the previous quarter. The growth was primarily driven by a one-time ASIC Tcon product shipment to a leading projector customer and Tcon for monitor application. In Q4, automotive Tcon sales continued to grow sequentially, due to the widespread adoption of Himax’s market-leading local dimming Tcon with over two hundred secured design-win projects across major panel makers, Tier 1 suppliers, and automotive manufacturers worldwide. Non-driver products accounted for 19.2% of total revenues, as compared to 16.3% in the previous quarter and 13.6% a year ago.

Fourth quarter operating expenses were $49.2 million, a decrease of 19.1% from the previous quarter and a decline of 6.0% from a year ago. The sequential decrease stemmed primarily from a reduction in annual employee bonuses, partially offset by an increase in R&D expenses. As part of Company’s standard practice, Himax grants annual bonuses, including cash and RSUs, to employees at the end of September each year. This results in higher IFRS operating expenses in the third quarter compared to the other quarters of the year. The year-over-year decrease was mainly due to a decline in employee bonus compensation as the amortized portion of prior year’s bonuses for 2023 was higher than that for 2024, offsetting the higher annual bonus compensation grant for 2024 compared to 2023. Amid ongoing macroeconomic challenges, Himax is strictly enforcing budget and expense controls, with full-year 2024 operating expenses declining 5.6% compared to last year.

Fourth quarter operating income was $23.1 million or 9.7% of sales, compared to 2.6% of sales last quarter and 7.3% of sales for the same period last year. The sequential increase was primarily the result of higher sales, improved gross margin, and lower operating expenses. The year-over-year increase was primarily the result of higher sales, higher gross margin, and lower employee bonus compensation due to the amortized portion of the prior year’s bonuses. Fourth-quarter after-tax profit was $24.6 million, or 14.0 cents per diluted ADS, reflecting a meaningful increase from $13.0 million, or 7.4 cents per diluted ADS last quarter, and up from $23.6 million, or 13.5 cents in the same period last year.

Full Year 2024 Financial

Revenues totaled $906.8 million, a slight decline of 4.1% compared to 2023. Persistent global demand weakness, coupled with uncertainty about market trends, led to conservative purchasing decisions and inventory management by Company’s panel customers. Given this uncertainty, Himax implemented strict expense controls, resulting in a 5.6% reduction in operating expenses for the year. However, Company’s optimism in the automotive business remains unwavering, with automotive IC sales increasing by nearly 20% year-over-year in 2024, far outpacing the overall automotive market growth. Among Company’s automotive product lines, automotive TDDI and Tcon sales, both relatively new technologies, surged by more than 70%, driven by accelerated adoption across the board. This growth strengthened Company’s market leadership and positions Himax well for continued success as the automotive sector embraces more advanced technology resulting from the mega trend of increasing size, quantity, and sophistication of displays inside vehicles.

Revenue from large panel display drivers totaled $125.9 million in 2024, marking a decrease of 28.3% year-over-year, and representing 13.9% of total sales, as compared to 18.6% in 2023. Small and medium-sized driver sales totaled $625.4 million, reflecting a slight decrease of 0.6% year-over-year, and accounting for 69.0% of its total revenues, as compared to 66.5% in 2023. Non-driver product sales totaled $155.5 million, an increase of 10.6% year-over-year, and representing 17.1% of Company’s total sales, as compared to 14.9% a year ago.

Gross margin in 2024 was 30.5%, up from 27.9% in 2023. The margin expansion was driven by a strategic focus on cost improvements and operational efficiency optimization, combined with a favorable product mix that included a higher percentage of high-margin products such as automotive and Tcon. The successful diversification of foundry sources also contributed to the margin increase.

Operating expenses in 2024 were $208.0 million, a decline of 5.6% from 2023, primarily due to lower employee bonus compensation, as the amortized portion of bonuses in 2023 was higher than that in 2024. 2024 operating income was $68.2 million, or 7.5% of sales, an increase from $43.2 million, or 4.6% of sales, in 2023. Himax’s net profit for 2024 was $79.8 million, or $0.46 per diluted ADS, significantly up from $50.6 million, or $0.29 per diluted ADS in 2023.

Balance Sheet and Cash Flow

Himax had $224.6 million of cash, cash equivalents and other financial assets as of December 31, 2024. This compares to $206.4 million at the same time last year and $206.5 million a quarter ago. Himax achieved a strong positive operating cash flow of $35.4 million for the fourth quarter, compared to a cash outflow of $3.1 million in Q3. Company made a total of $30.1 million annual cash bonus to employees, resulting in the low operating cash flow of the quarter. As of December 31, 2024, Himax had $34.5 million in long-term unsecured loans, with $6.0 million representing the current portion.

The Company’s inventories as of December 31, 2024 were $158.7 million, lower than $192.5 million last quarter and $217.3 million at the end of last year. Company’s inventory levels have steadily declined over the past couple of quarters and are now at a healthy level. Accounts receivable at the end of December 2024 was $236.8 million, little changed from $224.6 million last quarter and $235.8 million a year ago. DSO was 96 days at the quarter end, as compared to 92 days last quarter and 91 days a year ago. Fourth quarter capital expenditures were $3.2 million, versus $2.6 million last quarter and $15.1 million a year ago. Fourth quarter capex was mainly for R&D related equipment for Company’s IC design business. Total capital expenditures for 2024 were $13.1 million as compared to $23.4 million in 2023. The decrease was primarily due to reduced spending on in-house testers for Company’s IC design business in 2024.

Outstanding Share

As of December 31, 2024, Himax had 174.9 million ADS outstanding, little changed from last quarter. On a fully diluted basis, the total number of ADS outstanding for the fourth quarter was 175.1 million.

Q1 2025 Outlook

In 2024, Himax’s sales revenues in each quarter consistently outperformed guidance. While this strong performance is certainly commendable, it also highlights the challenges Company faced such as limited market visibility and conservative customer demand, where many customers relied on rush orders to address their actual demands. On the other hand, rush orders are indicative of the tight inventory position of Company’s panel customers in general. In the past few quarters, Himax has consistently demonstrated its ability to handle most of such rush orders, underscoring Company’s agility, adaptability, strong capabilities in inventory management, and swift market responsiveness.

The automotive IC sales remained Company’s largest revenue contributor in 2024, accounting for almost half of total revenues and achieving close to 20% annual growth. This performance highlights Himax’s automotive leadership in technological innovations, product development, and market share. Looking ahead, Himax expects its automotive TDDI and Tcon technologies to maintain growth momentum, further strengthening its market competitiveness. Beyond LCD technology, Himax is advancing development in the automotive OLED sector, with numerous projects currently underway in partnership with leading panel makers. Company anticipates that automotive OLED IC will serve as one of the key growth drivers for Himax in the coming years, further solidifying its leadership in automotive display market.

Meanwhile, Himax is actively expanding its technology development beyond display ICs. To that end, in the WiseEye AI segment, Company has made notable progress with leading notebook brands and achieved significant breakthroughs in smart door lock, palm vein authentication, and smart home applications, collaborating with world-leading customers to develop new innovations. Himax anticipates a strong growth trajectory in its WiseEye business in 2025 and beyond.

Himax’s proprietary wafer-level optics (WLO) technology for co-packaged optics (CPO) has recently garnered significant attention in the capital markets. In fact, as early as June 2024, Himax and FOCI, a global leader in silicon photonics connectors, jointly announced the industry-leading CPO technology. The collaboration, spanning several years, unites Himax’s WLO technology with FOCI’s CPO solutions for cutting-edge AI multi-chip modules (MCM). Since the announcement, Himax has provided updates on the latest progress in each quarterly earnings call. Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. CPO significantly enhances bandwidth and accelerates data transmission while reducing signal loss, latency, and power consumption. Additionally, it can help drastically decrease the size and cost of MCM.

While CPO is still in engineering validation and trial production stage this year, with customer’s mass production timelines undisclosed and the recent AI market disruptions from DeepSeek, the prospect of CPO remains unchanged. The widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. This is evident by the significant increase in customer’s recent trial production volume forecast, indicating an accelerated timeline for CPO technology to enter mass production. Furthermore, Himax and FOCI, in close collaboration with leading AI customers and partners, are actively developing future generations of CPO technologies to meet the explosive high-speed optical data transmission demand in HPC and AI. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth. Company believes that CPO technology, beyond cloud applications, will see further adoption in sectors such as automotive and robot in the future. Himax’s current goal is to accelerate CPO adoption in cloud applications, thereby helping drive broader CPO adoption in AI applications.

At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI. Company’s latest, patented Front-lit LCoS Microdisplay delivers unparalleled brightness with an industry-leading 400k nits, exceptional optical power efficiency, compact form factor, lightweight, and superior display quality, making it one of the most viable solutions in the see-through AR glasses market. In waveguide, in collaboration with leading tech names, Himax leverages proprietary WLO expertise, built on advanced nanoimprint technology, to offer industry-leading optical solutions that optimize light transmission and display efficiency. In the field of AI sensing for AR glasses, Himax’s WiseEye provides always-on AI sensing capabilities which are being applied by developers to significantly enhance AR interactivity while consuming just a few milliwatts of power.

In automotive display IC technology, Himax unveiled the industry’s most comprehensive LCD and OLED solutions at CES, showcasing a range of next-generation smart cabin technologies. These solutions not only improve the intuitive operation of smart cabins but also enhance driving safety and provide an exceptional user experience. A prime example is the advanced Display HMI solution developed in collaboration with AUO which meets the demands for large-size, high-resolution, and freeform automotive displays.

At CES, Himax also partnered with several AI ecosystem partners to showcase its ultralow power WiseEye Modules over a range of innovative, production-ready AIoT applications. These applications include palm vein authentication, baby cry detection, people flow management, and human sensing detection. The modules are designed for easy integration, making it highly suitable for various AIoT applications.

Display Driver IC Businesses

LDDIC

In Q1 2025, Himax anticipates a single digit sequential sales increase for large display driver ICs, driven by demand spurred by Chinese government subsidies for household appliances aimed at reviving demand in the sluggish household sector. Notebook and monitor sales are expected to increase in Q1. In contrast, TV IC sales are set to decline as customers pulled forward their inventory purchases in the prior quarter, coupled with the seasonal slowdown in Q1.

Looking ahead in the notebook sector, Company is seeing an increase in demand for premium notebooks to adopt OLED displays and touch features, partially fueled by the rise of AI PC. Himax is well-positioned to capitalize on this trend, offering a comprehensive range of ICs for both LCD and OLED notebooks, including DDIC, Tcon, touch controllers, and TDDI. A standout innovation is Company’s pioneering in-cell touch TDDI for LCD displays, which improves the ease of system design and integration by embedding the touch controller within the TDDI chip while maintaining the conventional display driver setup for Tcon data transmission. This design simplifies integration for customers, reducing engineering complexity and speeding up product development. This solution also supports high-resolution displays up to 4K and larger screens up to 16 inches, aligning with the growing demand for advanced, visually stunning, and immersive laptops. With mass production already underway for a leading notebook vendor’s AI PC, more projects are lined up. For OLED notebooks, in addition to Company’s OLED DDIC and Tcon solutions, Himax is also developing on-cell touch controller technology, with multiple projects underway with top panel makers and notebook vendors. Last but not least, progress has been made on the next-generation eDP 1.5 display interface for Tcon for both LCD and OLED panels. This interface will support high frame rates, low power consumption, adaptive sync, and high resolution, key features essential for next-generation AI PCs. By delivering innovative, cutting-edge technologies, Himax is well-positioned to lead in the rapidly evolving landscape of AI PCs and premium notebooks.

SMDDIC

On SMDDIC revenue, for the full year 2024, Himax’s automotive driver IC sales, comprising of TDDI and traditional DDIC, increased nearly 20% year-over-year, significantly outpacing global automotive growth, largely driven by the continued adoption of TDDI technology among major customers across all continents. However, Himax anticipates Q1 automotive revenue to decline low teens sequentially, following two quarters of surge demand. Despite this, Q1 automotive sales are still projected to increase by mid-teens on a year-over-year basis. In the automotive TDDI sector, with cumulative shipments significantly surpassing those of Himax’s competitors, Company continues to reinforce its market leadership, which currently stands at well over 50%. With nearly 500 design-in projects secured and a continuous influx of new pipeline and design-wins across the board, of which only 30% already in mass production, Himax expects to sustain this decent growth in the years ahead. While traditional automotive DDIC sales for 2024 declined due to their gradual, partial replacement by TDDI, Company’s DDIC shipment volume still saw a modest increase in the last year. This demonstrates the steady demand for mature DDIC products, such as those used in cluster displays, HUDs, and rear- and side-view mirrors, which do not require touch functionality. Furthermore, the long-term trust and loyalty from Company’s DDIC customers, some of whom have relied on Himax’s solutions for over a decade, is indicative of Company’s strong customer retention. Himax continues to lead the automotive DDIC market, maintaining a global market share of approximately 40%.

Himax continues to lead in automotive display IC innovation by pioneering solutions that deliver superior performance, power efficiency, and enhanced user experiences. As part of this ongoing innovation, Company’s latest TED (Tcon Embedded Driver IC) solution, which combines TDDI with local dimming Tcon into a single chip, provides a cost-effective, flexible, and comprehensive solution for its customers. Another new technology worth highlighting is Himax’s automotive TDDI with advanced user-aware touch control, which differentiates between driver and passenger touches to prevent cross-touch and enhance driving safety. In addition, Company offers a unique knob-on-in-cell-display solution that combines a physical knob with a TDDI. This design seamlessly merges in-cell touch technology with tactile controls, offering drivers a safer, more intuitive interaction that reduces distractions and enhances the overall driving experience.

Moving to smartphone and tablet IC sales, Himax expects a sequential decline in both product lines, as is typical during the low season in Q1 due to the Lunar New Year.

On OLED business update. In the automotive OLED market, Company has established strategic partnerships with leading panel makers in Korea, China, and Japan. As OLED technology extends beyond premium car models, Himax is well-positioned as the preferred partner, leveraging Company’s strong presence and proven track record in the automotive LCD display sector. Capitalizing on Himax’s first-mover advantage, Himax aims to drive the growing adoption of OLED in automotive displays by offering a comprehensive range of solutions, including DDIC, Tcon, and on-cell touch controller. Company believes this positions it as a primary beneficiary of the anticipated shift toward OLED displays for high end vehicles in a couple of years, enabling Himax to capture new growth opportunities and further strengthen its market leadership.

Beyond the automotive sector, Company has also made strides in the tablet and notebook markets, partnering with leading OLED panel makers in Korea and China. Himax’s comprehensive OLED product portfolio, covering DDIC, Tcon, and touch controllers, has driven several new projects that are on track to begin mass production this year. In the smartphone OLED market, Company is making solid progress in collaborations with customers in Korea and China and anticipates mass production to start later this year.

First quarter small and medium-sized display driver IC business is expected to decline low teens sequentially.

Non-Driver Product Categories

Q1 non-driver IC revenues are expected to decrease high teens sequentially.

Timing Controller (Tcon)

Himax anticipates Q1 2025 Tcon sales to decrease mid-teens sequentially, primarily due to the non-recurrence of a one-time ASIC Tcon shipment to a leading projector customer last quarter, as well as a moderation in automotive Tcon shipments following several quarters of strong growth. That being said, Himax maintains an unchallenged position in local dimming Tcon, evidenced by growing validation and widespread adoption in both premium and mainstream car models worldwide. Company is confident in the continued growth of its automotive Tcon business, supported by its strong market presence in local dimming Tcon, with strong pipeline of over two hundred design-win projects set to gradually enter production in the coming years. Heads-up display (HUD) is another field gaining traction within automotive displays, driving increased adoption of local dimming Tcon technology and emerging as a particularly promising application. Himax’s industry-leading local dimming Tcon provides distinct advancements with high contrast ratio and optimized power consumption. It effectively eliminates the “postcard effect” often seen in HUDs, caused by backlight leakage typical of conventional TFT LCD panels, ensuring clear and precise images on the windshield. Additionally, the Tcon features advanced transparency detection to prevent the display from obstructing the driver’s view, thereby ensuring driving safety. Several HUD projects are already in progress, and Himax is excited about the potential opportunities ahead. Company is well positioned for continuous growth in automotive Tcon over the next few years.

WiseEye™ Ultralow Power AI Sensing

On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge endpoint AI integration featuring industry-leading ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm. WiseEye AI delivers a significant competitive edge in the rapidly growing AI market through its ultralow power consumption and context-aware, on-device AI inferencing that seamlessly integrates vision and other sensing capabilities into endpoint applications, particularly battery-powered devices. This not only enhances intuitive user interaction but also makes AI more practical and accessible. Additionally, WiseEye AI offloads tasks from the main processor, effectively extending battery lifespan and improving overall data processing efficiency. Building on the success with Dell notebooks, Himax WiseEye AI is continuing to expand its market presence, with additional use cases expected across other leading notebook brands, some of which are set for production later this year.

WiseEye also continues to achieve significant market success across various sectors. For smart door lock, Company collaborated with DESMAN, a leading high-end brand in China, to introduce the world’s first smart door lock with 24/7 sentry monitoring and real-time event recording. Building on this achievement, Himax is expanding globally by collaborating with other leading door lock makers worldwide to integrate innovative AI features, including parcel recognition, anti-pinch protection, and palm vein biometric access, further extending application possibilities. Several of these value-added solutions are set to enter production later this year. At CES 2025, Himax joined forces with ecosystem partners to unveil a suite of innovative, production-ready AIoT applications, powered by Company’s tiny form factor, plug-and-play WiseEye Modules. Himax offers a series of modules, each incorporating an ultralow power WiseEye AI processor, an AoS image sensor, and advanced algorithms. The modules feature no-code/low-code AI platform capabilities, simplifying AI integration and supporting diverse use cases, such as human presence detection, gender and age recognition, gesture recognition, face mesh, voice command, thermal image sensing, pose estimation and people flow management. By streamlining deployment and reducing development costs, WiseEye Modules open new opportunities for automation, enhance interactivity, and elevate user experiences across a variety of industries.

A broad range of innovative, ultralow power WiseEye Modules are also under development in collaboration with ecosystem partners, such as crying baby detection, dynamic gesture recognition, and human sensing, among others. One standout in Himax’s WiseEye Module portfolio is the Himax WiseEye PalmVein solution, which has quickly gained traction since its introduction just one year ago. Company has secured multiple design wins, with mass production already underway by a US customer for smart access applications and a Taiwan-based door lock vendor for its leading smart door lock brands. To meet growing customer demand for flexibility across various environments, the upgraded WiseEye PalmVein suite now features bimodal authentication, combining both palm vein and face recognitions. This dual-authentication solution enhances security by offering two layers of biometric verification, which not only increases reliability but also makes it highly adaptable to various environments.

The rise of physical AI agents marks a significant shift in human-machine interaction, enabling devices to perceive, process, and respond to their surroundings in real time. A key emerging trend is the integration of cloud-based large language models (LLMs), which enables these agents’ advanced reasoning and language understanding, enhancing their ability to interact with and adapt to the physical world. Himax WiseEye AI is at the forefront of this revolution, delivering always-on sensor fusion, ultralow power on-device processing, while seamlessly interfacing with LLMs, to provide the essential real-time AI capabilities for next-generation applications. A good illustration of this innovation was showcased at CES 2025, where Himax and Seeed Studio introduced the SenseCAP Watcher, a physical AI agent powered by WiseEye AI. Equipped with vision and audio sensor fusion, along with a speaker, this battery-powered IoT device combines on-device AI with cloud-based LLMs to interpret commands, recognize objects, respond to events, and facilitate real-time interaction. Drawing from the success of SenseCAP Watcher, Himax is actively working on multiple projects leveraging WiseEye AI to further drive advancements in physical AI agent applications.

Separately, Himax is excited about its collaboration with a leading AR player to integrate WiseEye AI into the next generation of AR glasses. At CES, there was a renewed enthusiasm on AR glasses with AI becoming an integral component to enable intuitive and seamless human-device interaction. WiseEye AI addresses two critical challenges in AR glasses, namely real-time responsiveness and power efficiency. For example, WiseEye supports always-on outward sensing, enabling AR glasses to detect and analyze the surrounding environment with real time context-aware AI. This capability powers instant response, real-time object recognition, navigation assistance, translation, and environmental mapping, enhancing the overall AR experience. Notably, WiseEye AI’s exceptional ultralow power consumption, measured in single digit milliwatts, also make it perfectly suited for AR glasses for all-day wear. In another example, Company collaborates with Ganzin on eyeball tracking technology, which, powered by WiseEye, precisely detects subtle eyeball movements, gaze direction, pupil size, and blinking, thereby providing critical data for the enhancement of user interaction in AR glasses.

Wafer Level Optics (WLO)

In June 2024, Himax, in partnership with FOCI, a world leader in silicon photonics connector, unveiled an industry-leading co-packaged optics (CPO) technology, leveraging Himax state-of-the-art WLO technology. This innovation integrates silicon photonic chips and optical connectors within MCM, replacing traditional metal wire transmission with high-speed optical communication. The technology significantly enhances bandwidth, boosts data transmission rates, reduces signal loss and latency, lowers power consumption, and significantly minimizes the size and cost of MCM. In working closely with FOCI, Himax is making significant strides through a solid partnership with leading AI semiconductor companies and foundry, with small-scale production of the first-generation CPO solution already underway. The significant increase in Q1 engineering validation and trial production volume, combined with the anticipated sample volume increases in the coming quarters, is a strong indication that CPO technology is being accelerated toward mass production. In addition, in close collaboration with leading AI customers/partners, Himax is speeding up the development of CPO technology for the next few generations. Himax is more optimistic than ever about the outlook for its WLO business, which is poised to generate significant growth opportunities and become a major revenue and profit contributor in the years ahead.

Alongside the CPO progress, Company is witnessing a rise in engineering collaborations with global technology leaders who are utilizing Himax’s WLO expertise to make advanced waveguides for AR glasses, highlighting the growing recognition of Company’s WLO capabilities.

LCoS

On the update on LCoS, Company recently introduced its industry-leading 400K nits ultra-luminous Front-lit LCoS Microdisplay, setting a new benchmark for brightness with extremely low power consumption of merely 300mW. At CES 2025, Company showcased an AR glasses POC (Proof-Of-Concept) featuring the microdisplay with a third-party waveguide, achieving over 1,000 nits of brightness to the eye. This demonstration highlighted its suitability for outdoor, high ambient light conditions. With a lightweight of just 0.98 grams and ultra-compact form factor of less than 0.5 c.c., combined with excellent color performance, Himax’s Front-lit LCoS Microdisplay is ideal for all-day AR glasses and underscores the technology’s readiness for real-world applications.

Following the recent release of Himax’s 400K nits ultra-luminous Front-lit LCoS Microdisplay, Himax is actively engaged in significant projects through strategic collaborations with industry leaders. Himax’s proven track record of over a decade in LCoS technology, coupled with a history of successful production shipments, highlights Company’s readiness to meet the demands of large-scale production of AR glasses.

First Quarter 2025 Guidance
Net Revenue:	Decrease 8.5% to 12.5% QoQ, Flat to Up 4.6% YoY
Gross Margin:	Around 30.5%, depending on final product mix
Profit:	9.0 cents to 11.0 cents per diluted ADS, Up 26% to 54% YoY

Himax noticed that some peers’ customers placed orders early due to tariff factors, especially in the consumer electronics sector, resulting in Q1 revenue forecasts exceeding normal seasonal demand. In contrast, no similar trend has been observed in the automotive semiconductor market. Since Himax’s automotive business accounts for more than half of its total revenues, Himax’s Q1 revenue forecast has not benefited from tariff factors.

HIMAX TECHNOLOGIES FOURTH QUARTER AND FULL YEAR 2024 EARNINGS CONFERENCE CALL
DATE:	Thursday, February 13, 2025
TIME:	U.S. 8:00 a.m. EST Taiwan 9:00 p.m.

Live Webcast (Video and Audio): http://www.zucast.com/webcast/br8wqbB4 Toll Free Dial-in Number (Audio Only):
	Hong Kong 2112-1444 Taiwan 0080-119-6666 Australia 1-800-015-763 Canada 1-877-252-8508 China (1) 4008-423-888 China (2) 4006-786-286 Singapore 800-492-2072 UK 0800-068-8186 United States (1) 1-800-811-0860 United States (2) 1-866-212-5567
Dial-in Number (Audio Only):
	Taiwan Domestic Access 02-3396-1191 International Access +886-2-3396-1191
Participant PIN Code: 3329013 #

If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3329013 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or Himax’s website, where it will remain available until February 13, 2026.

About Himax Technologies, Inc.
Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

Company Contacts:

Eric Li, Chief IR/PR Officer
Himax Technologies, Inc.
Tel: +886-6-505-0880
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Karen Tiao, Investor Relations
Himax Technologies, Inc.
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Mark Schwalenberg, Director
Investor Relations – US Representative
MZ North America
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us

-Financial Tables-

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Profit or Loss
(These interim financials do not fully comply with IFRS because they omit all interim disclosure required by IFRS)
(Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
	Three Months Ended December 31,						3 Months Ended September 30,
		2024			2023			2024

Revenues
Revenues from third parties, net	$	237,182		$	227,664		$	222,401
Revenues from related parties, net		41			14			6
		237,223			227,678			222,407

Costs and expenses:
Cost of revenues		164,963			158,669			155,795
Research and development		37,584			41,088			46,880
General and administrative		5,711			5,831			6,828
Sales and marketing		5,886			5,409			7,048
Total costs and expenses		214,144			210,997			216,551

Operating income		23,079			16,681			5,856

Non operating income (loss):
Interest income		2,042			1,934			2,297
Changes in fair value of financial assets at fair value through profit or loss		1,245			1,710			27
Foreign currency exchange gains (losses), net		690			(1,525	)		457
Finance costs		(964	)		(1,140	)		(1,018	)
Share of losses of associates		(360	)		(14	)		(143	)
Other losses		–			(1,932	)		–
Other income (losses)		60			(362	)		105
		2,713			(1,329	)		1,725
Profit before income taxes		25,792			15,352			7,581
Income tax expense (benefit)		761			(7,933	)		(5,174	)
Profit for the period		25,031			23,285			12,755
Loss (profit) attributable to noncontrolling interests		(423	)		280			268
Profit attributable to Himax Technologies, Inc. stockholders	$	24,608		$	23,565		$	13,023

Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.141		$	0.135		$	0.075
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.140		$	0.135		$	0.074

Basic Weighted Average Outstanding ADS		175,008			174,724			174,727
Diluted Weighted Average Outstanding ADS		175,146			174,979			174,987

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Profit or Loss
(Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)

	Twelve Months Ended December 31,
		2024			2023

Revenues
Revenues from third parties, net	$	906,737		$	945,309
Revenues from related parties, net		65			119
		906,802			945,428

Costs and expenses:
Cost of revenues		630,601			681,931
Research and development		160,329			171,392
General and administrative		24,121			25,037
Sales and marketing		23,530			23,856
Total costs and expenses		838,581			902,216

Operating income		68,221			43,212

Non operating income (loss):
Interest income		9,907			8,746
Changes in fair value of financial assets at fair value through profit or loss		1,363			1,655
Foreign currency exchange gains (losses), net		2,491			(768	)
Finance costs		(4,014	)		(6,080	)
Share of losses of associates		(831	)		(598	)
Other losses		–			(1,932	)
Other income		198			158
		9,114			1,181
Profit before income taxes		77,335			44,393
Income tax benefit		(2,435	)		(5,028	)
Profit for the period		79,770			49,421
Loss (profit) attributable to noncontrolling interests		(15	)		1,195
Profit attributable to Himax Technologies, Inc. stockholders	$	79,755		$	50,616

Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.456		$	0.290
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.456		$	0.290

Basic Weighted Average Outstanding ADS		174,796			174,495
Diluted Weighted Average Outstanding ADS		175,014			174,783

Himax Technologies, Inc.
IFRS Unaudited Condensed Consolidated Statements of Financial Position
(Amounts in Thousands of U.S. Dollars)

	December 31, 2024			December 31, 2023			September 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	218,148		$	191,749		$	194,139
Financial assets at amortized cost		4,286			12,511			12,335
Financial assets at fair value through profit or loss		2,140			2,117			–
Accounts receivable, net (including related parties)		236,813			235,829			224,589
Inventories		158,746			217,308			192,458
Income taxes receivable		726			1,454			986
Restricted deposit		503,700			453,000			503,700
Other receivable from related parties		13			69			22
Other current assets		43,471			86,548			42,581
Total current assets		1,168,043			1,200,585			1,170,810
Financial assets at fair value through profit or loss		23,554			21,650			26,383
Financial assets at fair value through other comprehensive income		28,226			1,635			22,457
Equity method investments		8,571			3,490			2,945
Property, plant and equipment, net		121,280			130,109			122,333
Deferred tax assets		21,193			14,196			13,806
Goodwill		28,138			28,138			28,138
Other intangible assets, net		636			816			717
Restricted deposit		31			32			31
Refundable deposits		221,824			222,025			221,879
Other non-current assets		18,025			20,728			18,484
		471,478			442,819			457,173
Total assets	$	1,639,521		$	1,643,404		$	1,627,983
Liabilities and Equity
Current liabilities:
Current portion of long-term unsecured borrowings	$	6,000		$	6,000		$	6,000
Short-term secured borrowings		503,700			453,000			503,700
Accounts payable (including related parties)		113,203			107,342			121,384
Income taxes payable		9,514			15,309			2,324
Other payable to related parties		–			110			–
Contract liabilities-current		10,622			17,751			25,694
Other current liabilities		63,595			109,291			54,673
Total current liabilities		706,634			708,803			713,775
Long-term unsecured borrowings		28,500			34,500			30,000
Deferred tax liabilities		564			520			505
Other non-current liabilities		7,496			35,879			11,361
		36,560			70,899			41,866
Total liabilities		743,194			779,702			755,641
Equity
Ordinary shares		107,010			107,010			107,010
Additional paid-in capital		115,376			114,648			115,285
Treasury shares		(5,546	)		(5,157	)		(4,714	)
Accumulated other comprehensive income		8,621			(180	)		3,507
Retained earnings		664,600			640,447			644,596
Equity attributable to owners of Himax Technologies, Inc.		890,061			856,768			865,684
Noncontrolling interests		6,266			6,934			6,658
Total equity		896,327			863,702			872,342
Total liabilities and equity	$	1,639,521		$	1,643,404		$	1,627,983

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in Thousands of U.S. Dollars)
	Three Months Ended December 31,						Three Months Ended September 30,
		2024			2023			2024

Cash flows from operating activities:
Profit for the period	$	25,031		$	23,285		$	12,755
Adjustments for:
Depreciation and amortization		5,564			5,115			5,640
Share-based compensation expenses		103			346			407
Losses (gains) on disposals of property, plant and equipment, net		4			(368	)		–
Loss on re-measurement of the pre-existing relationships in a business combination		–			1,932			–
Changes in fair value of financial assets at fair value through profit or loss		(1,245	)		(1,710	)		(27	)
Interest income		(2,042	)		(1,934	)		(2,297	)
Finance costs		964			1,140			1,018
Income tax expense (benefit)		761			(7,933	)		(5,174	)
Share of losses of associates		360			14			143
Inventories write downs		4,037			5,727			2,269
Unrealized foreign currency exchange losses (gains)		(159	)		1,517			228
		33,378			27,131			14,962
Changes in:
Accounts receivable (including related parties)		(27,302	)		8,163			8,548
Inventories		29,675			36,580			8,964
Other receivable from related parties		9			(29	)		33
Other current assets		2,502			(5,682	)		(778	)
Accounts payable (including related parties)		(7,706	)		(627	)		(26,101	)
Other payable to related parties		1			363			(102	)
Contract liabilities		6			(958	)		667
Other current liabilities		2,508			3,014			(4,161	)
Other non-current liabilities		71			393			(3,354	)
Cash generated from operating activities		33,142			68,348			(1,322	)
Interest received		3,513			2,665			860
Interest paid		(1,047	)		(1,140	)		(1,018	)
Income tax paid		(191	)		(1,131	)		(1,658	)
Net cash provided by (used in) operating activities		35,417			68,742			(3,138	)

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(3,222	)		(15,052	)		(2,551	)
Proceeds from disposal of property, plant and equipment		–			111			–
Acquisitions of intangible assets		–			(40	)		(9	)
Acquisitions of financial assets at amortized cost		(2,286	)		(4,573	)		(1,500	)
Proceeds from disposal of financial assets at amortized cost		10,289			784			617
Acquisitions of financial assets at fair value through profit or loss		(6,807	)		(5,375	)		(27,934	)
Proceeds from disposal of financial assets at fair value through profit or loss		3,722			1,645			33,036
Acquisitions of financial assets at fair value through other comprehensive income		–			(1,379	)		–
Proceeds from disposal of financial assets at fair value through other comprehensive income		–			99			–
Acquisition of a subsidiary, net of cash acquired (paid)		(5,416	)		433			–
Proceeds from capital reduction of investment		338			360			–
Acquisitions of equity method investment		(1,236	)		–			–
Decrease (increase) in refundable deposits		(8	)		–			11,339
Net cash provided by (used in) investing activities		(4,626	)		(22,987	)		12,998

Cash flows from financing activities:
Purchase of treasury shares		(832	)		–			–
Prepayments for purchase of treasury shares		(2,168	)		–			–
Payments of cash dividends		–			–			(50,670	)
Payments of dividend equivalents		–			–			(233	)
Proceeds from issuance of new shares by subsidiaries		–			916			–
Purchases of subsidiaries shares from noncontrolling interests		–			(9	)		–
Proceeds from short-term unsecured borrowings		–			36,932			–
Repayments of short-term unsecured borrowings		–			(37,226	)		–
Repayments of long-term unsecured borrowings		(1,500	)		(1,500	)		(1,500	)
Proceeds from short-term secured borrowings		461,400			427,100			522,600
Repayments of short-term secured borrowings		(461,400	)		(427,100	)		(471,900	)
Pledge of restricted deposit		–			–			(50,700	)
Payment of lease liabilities		(1,340	)		(1,244	)		(979	)
Guarantee deposits received (refunded)		219			(5	)		–
Net cash used in financing activities		(5,621	)		(2,136	)		(53,382	)
Effect of foreign currency exchange rate changes on cash and cash equivalents		(1,161	)		873			985
Net increase (decrease) in cash and cash equivalents		24,009			44,492			(42,537	)
Cash and cash equivalents at beginning of period		194,139			147,257			236,676
Cash and cash equivalents at end of period	$	218,148		$	191,749		$	194,139

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in Thousands of U.S. Dollars)
	Twelve Months Ended December 31,
		2024			2023

Cash flows from operating activities:
Profit for the period	$	79,770		$	49,421
Adjustments for:
Depreciation and amortization		22,354			20,322
Share-based compensation expenses		1,247			2,663
Losses (gains) on disposals of property, plant and equipment, net		4			(368	)
Loss on re-measurement of the pre-existing relationships in a business combination		–			1,932
Changes in fair value of financial assets at fair value through profit or loss		(1,363	)		(1,655	)
Interest income		(9,907	)		(8,746	)
Finance costs		4,014			6,080
Income tax benefit		(2,435	)		(5,028	)
Share of losses of associates		831			598
Inventories write downs		13,551			21,540
Unrealized foreign currency exchange losses (gains)		(171	)		624
		107,895			87,383
Changes in:
Accounts receivable (including related parties)		(40,738	)		20,804
Inventories		45,011			132,090
Other receivable from related parties		56			5
Other current assets		3,941			(3,863	)
Accounts payable (including related parties)		14,567			7,676
Other payable to related parties		(110	)		(268	)
Contract liabilities		45			(37,051	)
Other current liabilities		(9,010	)		1,246
Other non-current liabilities		(2,260	)		(4,602	)
Cash generated from operating activities		119,397			203,420
Interest received		9,732			8,567
Interest paid		(4,015	)		(6,080	)
Income tax paid		(9,138	)		(53,066	)
Net cash provided by operating activities		115,976			152,841

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(13,054	)		(23,378	)
Proceeds from disposal of property, plant and equipment		–			111
Acquisitions of intangible assets		(153	)		(115	)
Acquisitions of financial assets at amortized cost		(11,236	)		(6,911	)
Proceeds from disposal of financial assets at amortized cost		19,457			3,099
Acquisitions of financial assets at fair value through profit or loss		(76,003	)		(82,628	)
Proceeds from disposal of financial assets at fair value through profit or loss		70,389			75,539
Acquisitions of financial assets at fair value through other comprehensive income		(17,164	)		(1,379	)
Proceeds from disposal of financial assets at fair value through other comprehensive income		–			99
Acquisition of a subsidiary, net of cash acquired (paid)		(5,416	)		433
Proceeds from capital reduction of investment		338			360
Acquisitions of equity method investment		(1,236	)		–
Decrease (increase) in refundable deposits		33,562			(56,933	)
Cash received in advance from disposal of land		–			2,821
Net cash used in investing activities		(516	)		(88,882	)

Cash flows from financing activities:
Purchase of treasury shares		(832	)		–
Prepayments for purchase of treasury shares		(2,168	)		–
Payments of cash dividends		(50,670	)		(83,720	)
Payments of dividend equivalents		(233	)		(148	)
Proceeds from issuance of new shares by subsidiary		71			916
Purchases of subsidiaries shares from noncontrolling interests		(190	)		(9	)
Proceeds from short-term unsecured borrowings		–			47,226
Repayments of short-term unsecured borrowings		–			(47,226	)
Repayments of long-term unsecured borrowings		(6,000	)		(6,000	)
Proceeds from short-term secured borrowings		1,780,300			1,383,300
Repayments of short-term secured borrowings		(1,729,600	)		(1,299,600	)
Pledge of restricted deposit		(50,700	)		(83,700	)
Payment of lease liabilities		(5,032	)		(4,830	)
Guarantee deposits received (refunded)		(23,163	)		200
Net cash used in financing activities		(88,217	)		(93,591	)
Effect of foreign currency exchange rate changes on cash and cash equivalents		(844	)		(200	)
Net increase (decrease) in cash and cash equivalents		26,399			(29,832	)
Cash and cash equivalents at beginning of period		191,749			221,581
Cash and cash equivalents at end of period	$	218,148		$	191,749

The MIL Network –

February 13, 2025

MIL-OSI United Kingdom: expert reaction to systematic review of studies on impacts of global pesticide use on biodiversity

Source: United Kingdom – Executive Government & Departments

February 13, 2025

A systematic review published in Nature Communications looks at the impact of pesticide use on biodiversity.

Prof Oliver Jones, Professor of Chemistry, RMIT University, said:

“There is a lot to like in this study. While the authors have not undertaken any new experiments, they have synthesised data from the existing scientific literature to make new deductions about the unintended effects of pesticides. They look at many different species worldwide and it’s great to see that they used environmentally realistic pesticide concentrations in the calculations

“While the work has generated some useful insights, there are some points to keep in mind.

“The word pesticide is a catch-all term for any substance used to control a species humans don’t want to be in a particular space. There are several subgroups: Herbicides are used to control plants, insecticides are used to control insects, etc. Because pesticides are designed to control classes of organisms, the fact that non-target species within those classes may also be affected is not new. While the study highlights negative impacts on over 800 non-target species, data was only available for these. Other species may also be impacted, but we don’t have the data on how.

“There are also many, many pesticides in use, and some have much worse unintended effects than others. The types of pesticides and how they are used also differ between countries. Compounds used in one country are banned in others, making direct comparisons difficult.

“Also, as the authors themselves point out, pesticide use is essential to modern agriculture; we could not feed the world’s population without them.

“The above non-withstanding, the central tenet of this work—that if we are serious about reducing biodiversity loss, we need to be careful about how we use pesticides and look for alternative methods where possible—is very sensible. For example, the data from this work might be used to identify the compounds with the largest non-intended effects and remove them from common use in favour of those with the fewest non-intended effects.”

Prof Toby Bruce, Professor of Insect Ecology, Keele University, said:

“Increasing evidence of off-target effects of conventional pesticides means there is an urgent need to research and deliver alternative, better targeted approaches. Since the Green Revolution, farmers have been heavily reliant on pesticides for protecting their crops because many of the high yielding crop varieties we have today were developed as part of a package together with pesticides.”

Dr Antonis Myridakis, Lecturer in Environmental Sciences, from Brunel University of London.

“The study by Wan et al presents a comprehensive synthesis of the negative impacts of pesticides on a wide range of non-target organisms, incorporating data from over 1,700 studies and is methodologically sound. It is a quite extensive evaluation of pesticide effects on biodiversity. The findings reinforce existing concerns that pesticides have far-reaching consequences for non-target species, including plants, animals, fungi, and microbes, thereby contributing significantly to biodiversity loss.

“The main conclusions are that pesticide exposure leads to reduced growth, reproduction and behavioural changes in a broad spectrum of species. However, while the study provides compelling evidence of harm to over 800 species, it does not comprehensively address the potential impacts on the vast number of other species not included in the dataset. Therefore, there is the possibility that the true extent of pesticide harm is even greater than reported. Another limitation is the reliance on available published data, which may introduce publication bias since studies reporting significant negative effects are more likely to be published than those finding minimal or no effects.

“From a policy perspective, these findings highlight the need for stricter regulations on pesticide use and a broader implementation of Integrated Pest Management (IPM) strategies. It also underscores the necessity for improved risk assessment methodologies that incorporate ecosystem-wide effects rather than focusing solely on a few model species.

“Overall, this study provides strong evidence that pesticides pose a significant and widespread threat to biodiversity. While it does not address every possible ecological consequence, its findings are a crucial step toward informing policymakers, farmers, and the public about the hidden costs of pesticide use.”

Prof Tom Oliver, Professor of Applied Ecology, and Associate Pro-Vice Chancellor for Research (Environment), University of Reading:

“Understanding the effects of the pesticides on wild species is hugely important. In combination with habitat loss and extreme weather from climate change, these chemicals are thought to be an important factor behind the devastation of our native biodiversity. Importantly, this study has corrected for ‘field-realistic’ levels of exposure. Many industrial chemicals are toxic if poured directly over animals and plants, but the important question is whether the concentration with which pesticides are applied from crops sprayers is damaging. The study finds that a whole range of ‘non-target’ organisations, i.e. those that aren’t pests, but are valuable plants, insects and fungi, are being impacted by these pesticides. Pesticides may be fatal to our native wildlife or they can have sub-lethal effects, such as disrupting growth, reproduction and behaviour (for example, the ability of bees to navigate effectively). The proliferation of certain harm causing human-made chemicals, which escape, or are purposely introduced, into the natural environment is a ticking time-bomb for the health of our ecosystems. It is fortunate that the UK Government (in the recently published 2025 National Risk Register) have now recognised pollution and environmental degradation as a ‘chronic risk’ faced by the UK.”

‘Pesticides have negative effects on non-target organisms’ by Nian-Feng Wan et al. was published in Nature Communications at 10:00am UK time on Thursday 13 February 2025.

DOI: 10.1038/s41467-025-56732-x

Declared interests

Dr Antonis Myridakis: Nothing to declare.

Prof. Tom Oliver: employed by the University of Reading and has received funding from NERC, Green Finance Institute and BBSRC to develop methodologies for assessing nature-related risks. He was previously seconded with the Government Office for Science to work with UK Cabinet Office on chronic and acute risks faced by the UK, and was seconded to Defra to help design their Systems Research Programme. He is lead educator on a Future Learn course “Using systems thinking to tackle the climate and biodiversity crisis” and is author of the book “The Self Delusion: The Surprising Science of Our Connection to Each Other and the Natural World” published by Weidenfeld & Nicholson. Oliver sits on the Food Standards Agency science council and is a member of the Office for Environmental Protection expert college.

Prof Oliver Jones: Although it was over 15 years ago, I have worked and published papers with Dr David J. Spurgeon, who is one of the authors of this paper. I also conduct research on environmental contaminants, including pesticides. I have received funding from the Environment Protection Authority Victoria (https://www.epa.vic.gov.au/) and various water utilities for research on environmental pollution

MIL OSI United Kingdom –

February 13, 2025
MIL-OSI United Kingdom: Funding boost to enhance walking and cycling routes in Portsmouth

Source: City of Portsmouth

Portsmouth City Council will use the funding to deliver improvements designed to help residents embrace healthier and more sustainable travel options. If approved, the council expects to use the funding to improve a crossing on London Road in North End, to make it easier and safer for people walking to navigate the busy district centre.

This proposed improvement will build on the success of previous funding rounds, which delivered significant upgrades such as the new toucan crossing on Victoria Road North and the improved shared cycling and walking path outside Somerstown Hub. Together, these initiatives are helping to create a safer, more connected network of walking and cycling routes across the city.

By making it easier and more appealing to travel actively, these upgrades aim to transform Portsmouth into a cleaner, greener, and better-connected city. Portsmouth City Council remains committed to supporting active travel as part of its vision for a healthier, more sustainable future, helping to reduce congestion, improve air quality, and create accessible travel options for everyone.

Cllr Peter Candlish, Cabinet Member for Transport, Portsmouth City Council, said:
“This funding allows us to build on the progress we’ve already made in improving walking and cycling across Portsmouth. Safer crossings, better routes, and School Streets are just some of the ways we’re making active travel the easy, accessible choice for everyone. These changes will create a healthier, better-connected city and support a cleaner, greener future for all.”

The council’s transport service is now working to develop detailed plans for the proposed scheme, which will be presented for consideration at a future decision meeting.

MIL OSI United Kingdom –

February 13, 2025
MIL-Evening Report: Grattan on Friday: Albanese and Trump put Australia in holding patterns on election timing and tariffs

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

When parliamentarians left Canberra on Thursday after the fortnight sitting, federal politics had the air of an uneasy waiting game.

Waiting for the election date, although the campaign has been running for months.

Waiting to know whether there will be a budget on March 25.

Waiting for capricious United States President Donald Trump to decide whether to grant Australia that keenly-sought exemption from his new 25% tariff on aluminium and steel imports.

Most immediately, waiting for the Reserve Bank to announce on Tuesday whether interest rates will be cut.

In policy terms, the government could be satisfied with this sitting week. Its Future Made in Australia legislation, with promised tax credits for major projects, passed. So too, did its sweeping new rules to put caps on political donations and spending.

The electoral reform legislation has been an extraordinarily drawn-out saga. Special Minister of State Don Farrell had originally hoped to introduce it by early 2024, with it operating at this election. But the process proved immensely complex, including for constitutional reasons. Finally the bill was introduced late last year, and has passed with virtually no time to spare. The measures won’t operate until the next parliamentary term.

Farrell brought to the task negotiating skills honed in a lifetime as a right wing factional power broker. He always wanted the deal to be done with the Liberals. He knew they would be the easiest dancing partners, because the changes are in the big parties’ mutual interests. But he also believed bipartisanship would reduce the chance of them being unravelled by a subsequent government.

The Coalition came on board – after the government made some concessions on donation and disclosure amounts – in the knowledge the reforms help put a floor under the two-party system. It’s obvious the Liberals want to limit the spread of the teal movement, that Climate 200 has helped finance.

But the potential for the increase in independents is a future danger also for Labor, which at this election is trying to win back Fowler, that fell in 2022 to independent Dai Le.

While the changes will limit the amount of money available to small players, they are a compromise and less unfair than some crossbenchers claim. Of course, judgements on fairness will differ according to where those making them are coming from. But it’s a substantial leap from urging newcomers should be encouraged into the system to believing the system should facilitate a financial auction for a seat.

As he basks in his victory of the electoral legislation Farrell, who is also trade minister, finds himself in a supporting role in a more immediately high-profile issue: the tariff battle with the US. Farrell is anxious to engage as soon as possible with his US counterpart, Commerce Secretary Howard Lutnick, preferably face-to-face. But he can’t officially do so until Lutnick is confirmed.

The tariff issue is being cast by the opposition as a test of Albanese’s ability to deal successfully with the Trump administration.

It’s an easy test to pose, but the government has done all it can to pursue a positive relationship with the administration. Notably, Deputy Prime Minister Richard Marles was in Washington a week ago for talks with new defence secretary Pete Hegseth, armed with a hefty cheque for some A$800 million as part of Australia’s contribution under the AUKUS deal.

The Albanese-Trump call this week, when the PM argued for a tariff exemption, apparently went well. But the outcome is unpredictable, as is the timing of a decision. Trump might have sounded encouraging but, as we’ve been seeing, there’s some strong opposition in the system to giving Australia special treatment.

A win for Australia would be a significant fillip for the PM; a Trump rebuff would be a corresponding blow. Timing is also important: it would not be good for the government if this issue was unresolved through the election campaign (even worse, if there was a bad result then).

The opposition seeks to grab headlines by calling for Albanese to rush to Washington. Even if practical that could be counterproductive; if the mission failed it would be a disaster. Voters wouldn’t give him too many marks for trying.

While Peter Dutton might have thought the arrival of Trump and a more general swing against “wokeism” would be helpful to him at the election, as the US scene becomes more unsettling, the risk for him is that some “soft” voters might decide now is not the time to change.

Though the tariff issue is important, the election contest is mainly on cost of living in all its manifestations.

Trump has the power to inflict a blow on Albanese on the tariffs, but the Reserve Bank is a much bigger player in the government’s thinking.

Expectations remain high of a rate cut next Tuesday. If that didn’t happen, it would be a serious setback for the government. The next chance for a cut would then be April 1.

It’s not that a cut would necessarily directly swing a lot of votes. The electorate’s mood is likely too negative for that. But the absence of the much-anticipated cut would badly mess with the government’s narrative that things are on the right track for people to become better off.

Many political stories have dominated this term. A lot could have been foreseen. One, however, was predicted by no one: the appalling antisemitism crisis that has overtaken us, and reached new lows this week. This crisis is the product of far away events triggering a local malignancy that was lurking largely unrecognised.

A parliamentary inquiry into antisemitism at universities said, in a report tabled this week, that it had found “a disturbing prevalence of antisemitism that has left Jewish students and staff feeling unsafe, hiding their identity on campus and even avoiding campus all together”.

On the same day that report was tabled, a horrifying video emerged of two nurses at a Sydney hospital, in an online discussion with Israeli influencer Max Veifer, spewing vile sentiments about killing Israeli patents. One of the two is an Afghan who became an Australian citizen several years ago. Dutton has seized on the video to call for a discussion “about the way in which the whole migration system works”.

Antisemitism has extended beyond being an appalling assault on Jews in our community – it is starting to undermine our institutions and society.

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Grattan on Friday: Albanese and Trump put Australia in holding patterns on election timing and tariffs – https://theconversation.com/grattan-on-friday-albanese-and-trump-put-australia-in-holding-patterns-on-election-timing-and-tariffs-249843

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI Economics: Global deal activity down 8.4% YoY in January 2025, reveals GlobalData

Source: GlobalData

Global deal activity (mergers & acquisitions (M&A), private equity (PE) and venture financing) experienced an 8.4% decline year-on-year (YoY) in January 2025 with decrease in deal volume observed across all the regions. Asia-Pacific and Europe faced the sharpest declines, while certain markets like India, Japan, and Germany saw growth according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that a total of 3,800 deals were announced globally during January 2025, which is a fall from 4,148 deals announced globally during the same period in the previous year.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in deal activity across all the regions reflects the current challenges and uncertainties. Asia-Pacific and Europe experienced the most significant downturns, with their respective deal volume declining by 10.2% and 14.5% YoY during January 2025.”

On the other hand, the total number of deals announced in North America, Middle East and Africa, and South and Central American regions were down by 1.9%, 5.5% and 23.8%, respectively.

Among the select key markets, China, the UK, Canada, South Korea, France and Australia experienced YoY decline in their deal volume by 30.4%, 20.5%, 18.9%, 28.3%, 16.7% and 17.3% respectively, while markets such as India, Japan, and Germany showed improvement in deal activity by 27.3%, 35% and 8.2%, respectively.

Meanwhile the trend remained a mixed bag across the different deal types under coverage. Venture financing deals volume saw YoY decline of 9.4% during January 2025 while the number of M&A deals fell by 8.6%. However, private equity deals experienced improvement in volume by 4.5% during the review period.

Bose concludes: “The data reveals a challenging landscape for global deal activity, with a broad decline in deal volumes, particularly in certain key markets. In this shifting environment, it will be crucial for investors to stay vigilant, closely monitor these trends, and adjust their strategies to effectively navigate the evolving market dynamics.”

MIL OSI Economics –

February 13, 2025
MIL-OSI Economics: Media release: Locking gas out of Capacity Investment Scheme risks higher power prices and blackouts – Australian Energy Producers

Source: Australian Petroleum Production & Exploration Association

Headline: Media release: Locking gas out of Capacity Investment Scheme risks higher power prices and blackouts – Australian Energy Producers

Australians face paying more for their electricity and increased risk of blackouts under the Federal Government’s deal with the Greens to keep gas out of the Capacity Investment Scheme (CIS).

Australian Energy Producers Chief Executive Samantha McCulloch said locking gas out of the CIS was at odds with the Government’s own advice on the critical role of gas in backing up renewables in the National Electricity Market (NEM) and for delivering reliable and affordable electricity.

“Australia needs significant investment in new gas power generation to keep the lights on and power bills down,” Ms McCulloch said.

“Instead of encouraging this investment, the Federal Government has again capitulated to the Greens’ anti-gas agenda and ignored the repeated warnings from experts about the critical role of gas in our power mix.”

The Australian Energy Market Operator (AEMO) has found the NEM needs 13 gigawatts of new gas-powered generation capacity to be built between now and 2050, and that renewables “backed up by gas-powered generation is the lowest-cost way to supply electricity to homes and businesses”.

“AEMO has made clear that gas is ‘the ultimate backstop for our grid’ and estimates that demand for gas power in the NEM will be almost double today’s levels in the early 2040s.

“The Labor-Greens deal today to effectively legislate gas out of the CIS comes just weeks after the ACCC urged governments to fast-track new gas supply and investment by explicitly recognising the critical long-term role of gas in Australia’s energy transition.

“Australia urgently needs investment in new gas supply and infrastructure to avoid structural shortfalls on the east coast from 2027 but mixed signals on the importance of gas only serve to undermine investor confidence.

“State and Federal Governments continue to ignore the warnings, and as a result it is almost inevitable that Victoria and NSW will soon be relying on more expensive imported gas. Ultimately, it’s Australian households and businesses that will pay the price for this policy failure,” Ms McCulloch said.

MIL OSI Economics –

February 13, 2025
MIL-OSI Australia: Albanese Government passes legislation to deliver child care 3 Day Guarantee

Source: Australian Ministers for Education

The Albanese Labor Government today passed legislation through the Parliament to deliver a 3 Day Guarantee and replace the Liberal’s Activity Test.

Families will be able to access three days a week of subsidised early childhood education for children who need it from January 2026.

The Dutton led Coalition voted against this important legislation. The Liberals have said the 3 Day Guarantee was “not something…the country can afford” but are happy for taxpayers to pay for bosses’ lunches.

The Liberal’s claim their Activity Test increased workforce participation, however the Australian Institute of Family Studies found no evidence that the introduction of the Activity Test caused any increase in workforce participation.

In fact, analysis undertaken by Dr Angela Jackson and Impact Economics and Policy found that:

“The current activity test for the Child Care Subsidy limits access to subsidised child care and is contributing to children from the poorest households missing out on critical early childhood education and care.”

Implementing the 3 Day Guarantee and abolishing the current Activity Test, is an important step towards a universal early childhood education and care system.

Families earning between $50,000 to $100,000, will be better off under the 3 Day Guarantee and are expected to save on average $1,460 per year.

The 3 Day Guarantee will provide cost-of-living relief to families and help ensure that children can access the benefits of high-quality early education and care.

A re-elected Albanese Labor Government will also establish a $1 billion Building Early Education Fund, to build more centres and expand services in areas of need, including the outer suburbs and regional Australia.

Only the Albanese Labor Government has a plan to deliver a universal early childhood education system that works for Australian families and ensure children get the best possible start in life.

Quotes attributable to Minister for Education Jason Clare:

“This is all about giving our kids the best start in life.

“Getting them ready for school.

“It’s all about opening the doors of opportunity.

“Peter Dutton has voted to slam it shut.

“Under Labor, we are guaranteeing 3 days a week of government supported early education.

“Under the Liberals, they are guaranteeing 3 course meals for bosses, paid for by the taxpayer.”

Quotes attributable to Minister for Early Childhood Education Dr Anne Aly:

“The Coalition would put universal access to early learning at risk, it’s clear they don’t understand the benefits of early childhood education and care.

“Only the Albanese Labor Government will ensure every Australian child has access to early childhood education.

“The Liberal’s prohibative Activity Test locked out the children who can most benefit from early childhood education and care, and has not increasesed workforce participation.

“Investing in the early years is an investment in Australia’s future – there is no better investment than giving our littlest Australians the best possible start in life.”

MIL OSI News –

February 13, 2025

MIL-OSI: Falcon Oil & Gas Ltd. – Operational Update on the Stimulation Campaign

Source: GlobeNewswire (MIL-OSI)

Falcon Oil & Gas Ltd.
(“Falcon”, “Group”)

Operational Update on the Stimulation Campaign

13 February 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) provides the following update on the stimulation campaign for the Shenandoah S2-2H ST1 (“SS-2H ST1”) and Shenandoah South 4H (“SS-4H”) wells in the Beetaloo Sub-basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s (“Falcon Australia”) joint venture partner, Tamboran (B2) Pty Limited (“Operator”).

SS-2H ST1

As previously announced stimulation operations were successfully completed over 35 stages across the 1,671-metre (5,483-feet) horizontal section of the Amungee Member B-shale with Liberty Energy (NYSE: LBRT) stimulation equipment.

The SS-2H ST1 well is being prepared for the commencement of initial flow back and extended production testing.
Targeting announcement of 30 day initial production (“IP30”) flow rates in April 2025.

SS-4H

Commenced stimulation operations in January 2025.
The Operator took proactive and precautionary steps to pause completion operations due to the detection of stress in a casing connection.
Reinforcement activities are planned to be conducted in Q1 2025, aiming for stimulation activities to recommence in Q2 2025, as soon as the IP30 flow test is completed at SS-2H ST1.
The deferred stimulation program should provide an opportunity to incorporate lessons from the SS-2H ST1 campaign.
Targeting announcement of IP30 flow rates in mid-2025.

Working Capital

Falcon Australia has received a A$4.7 million (~US$3 million) research and development tax offset in cash.
The Group’s current cash balance is US$8.2 million.

Philip O’Quigley, CEO of Falcon commented:
“We continue to be extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling, together with the completion of a successful stimulation program on SS-2H ST1 well. We look forward to updating the market on the IP30 flow test results from both wells as soon as they become available.”

Ends.
CONTACT DETAILS:

Falcon Oil & Gas Ltd.	+353 1 676 8702
Philip O’Quigley, CEO	+353 87 814 7042
Anne Flynn, CFO	+353 1 676 9162

Cavendish Capital Markets Limited (NOMAD & Broker)
Neil McDonald / Adam Rae	+44 131 220 9771

This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

About Beetaloo Joint Venture (EP 76, 98 and 117)

Company	Interest
Falcon Oil & Gas Australia Limited (Falcon Australia)	22.5%
Tamboran (B2) Pty Limited	77.5%
Total	100.0%

Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres¹

Company	Interest
Falcon Oil & Gas Australia Limited (Falcon Australia)	5.0%
Tamboran (B2) Pty Limited	95.0%
Total	100.0%

¹Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

About Tamboran (B2) Pty Limited
Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO₂ gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

Advisory regarding forward-looking statements
Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the completion of the stimulation, preparation for initial flow back and targeting an IP30 flow rate of April 2025 for SS-2H ST1; steps taken to pause operations, planned reinforcement activities in Q1 2025, aiming for recommencement of activities in Q2 2025, opportunity to incorporate lessons from the SS-2H ST1 campaign and targeting IP30 flow rates in mid-2025 for SS-4H.

This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The MIL Network –

February 13, 2025

MIL-OSI: Siili Solutions Plc, Financial statements bulletin, 1 January–31 December 2024 (unaudited)

Source: GlobeNewswire (MIL-OSI)

Siili Solutions Plc, Financial statements bulletin, 1 January–31 December 2024 (unaudited)

YEAR 2024 FOR SIILI: Profitability affected by declined revenue, successful launch of the new data and AI focused strategy

Siili Solutions Plc Financial statements bulletin 13 February 2025 at 9:00 am (EET)

In 2024 we clarified our new strategy and successfully launched its implementation. We focused on strengthening our competitiveness and securing profitability in a continuously challenging market situation. However, the challenging market situation affected negatively on Siili’s revenue and growth both domestically and internationally.

July-December 2024

Siili published its new strategy in August
Siili signed an agreement to purchase majority stake of the Finnish Integrations Group Oy
Siili appointed Maria Niiniharju as Siili’s VP, Private Business and member of Siili’s management team
Revenue for the second half of the year was EUR 52,713 (57,414) thousand, representing decline of 8.2% year on year
Adjusted EBITA for the second half of the year was EUR 2,100 (3,732) thousand, which corresponds to 4.0% (6.5%) of revenue

January-December 2024

We focused on streamlining our organization and creation of our new strategy
We strengthened data and AI expertise through training and recruitment
We achieved 10th place in the Young Professional A raction Index survey by Academic Work
Full-year revenue amounted EUR 111,899 (122,702) thousand, representing decline of 8.8% year on year
Adjusted EBITA was EUR 5,409 (8,742) thousand, which corresponds to 4.8% (7.1%) of revenue

	H2/2024	H2/2023	2024	2023	Q4/2024	Q4/2023
Revenue, EUR 1,000	52,713	57,414	111,899	122,702	28,589	30,365
Revenue growth, %	-8.2%	-3.4%	-8.8%	3.7%	-5.9%	-6.7%
Organic revenue growth, %	-8.2%	-5.5%	-8.8%	0.1%	-5.9%	-6.7%
Share of international revenue, %	30.2%	27.7%	29.0%	26.7%	28.8%	25.8%
Adjusted EBITA, EUR 1,000	2,100	3,732	5,409	8,742	1,403	2,471
Adjusted EBITA, % of revenue	4.0%	6.5%	4.8%	7.1%	4.9%	8.1%
EBITA, EUR 1,000	2,058	3,399	4,752	8,409	1,361	2,138
EBIT, EUR 1,000	1,482	2,763	3,592	6,909	1,075	1,844
Earnings per share, EUR	0.20	0.18	0.43	0.61	0.18	0.14
Number of employees at the end of the period	942	1,007	942	1,007	942	1,007
Average number of employees during the period	954	1,034	975	1,026	944	1,030
Total full-time employees and subcontractors (FTE) at the end of the period	1,033	1,091	1,033	1,091	1,033	1,091

Outlook for 2025 and financial goals for 2025-2028

Revenue for 2025 is expected to be EUR 108-130 million and adjusted EBITA EUR 4.7-7.7 million.

On 26 November 2024, the company announced the financial goals for the years 2025–2028 as follows:

Annual revenue growth of 20 percent, of which organic growth accounts for about half.
Adjusted EBITA 12 percent of revenue.
The aim is to keep the ratio of net debt-to-EBITDA below two.
The aim is to pay a dividend corresponding to 30–70 percent of net profit annually.

CEO TOMI PIENIMÄKI:

2024 was another challenging year from a market perspective, both for Siili and the entire IT service sector. During the year, we focused on crystallising our strategy and creating a foundation for stronger competitiveness and profitability.

The market situation affected both Siili’s revenue and the rate of growth both domestically and internationally. Full-year revenue amounted to approximately EUR 112 million, representing a decline of 9% year on year. The share of international operations in the Group’s revenue continued to increase and rose from the previous year’s level of 27% to 29% in 2024.

The slowdown in growth also weighed on profitability. Adjusted EBITA for the year was EUR 5.4 million, which corresponds to about 5% of revenue. This year, we aim to improve Siili’s profitability by focusing on operational efficiency and growth with focus on the Data and AI business.

Despite the challenges of the operating environment, last year was, however, successful for Siili in many ways. During the first half of the year, we focused on designing our new strategy and streamlining the organisation. We also launched a three-level training programme in artificial intelligence for our consultants and continued to strengthen the data and AI expertise of the Siili team through both training and recruitment throughout the year.

Our new strategy has been well received

In the new strategy published in August, we placed data and artificial intelligence at the core of the strategy. Our objective is to be a pioneer in the AI transition as a developer of generative AI solutions and as an AI partner that reinforces its customers’ competitiveness.

We have now three strategic priorities that strengthen our position as a leader in leveraging AI:

Significant growth in Data and AI business
Pioneer in AI-powered digital development
Community of top talent

Our updated strategy and our promise “Impact driven, AI powered” have been well received in the markets. During the year, we were selected as a partner for several AI and data projects in line with our strategy. Towards the end of the year, we had many successful openings consistent with the strategy in projects dealing with, for example, AI strategies, training, and implementation. We will continue to focus on expanding our business with strategic customers and building long-standing partnerships.

We focus on improving our profitability

We continue to improve our operational efficiency. We will focus in particular on capacity and utilization management, cost efficiency, offer development and pricing optimization. Improving profitability is progressing according to plan in stages. We have made a concrete action plan to improve our efficiency and profitability and we will implement it with determination and monitor its progress.

Last year, we also started to develop our operating models towards more data-driven decision-making and better forecasting. In addition, we are strongly investing in the implementation of a new management model that increases efficiency, recruitments that support the strategy and optimization of subcontracting. We strive to seek profitable growth in growth areas in line with the strategy, while firmly protecting profitability in more challenging market segments.

We are strengthening our community of top talent

At the beginning of November, we strengthened the data and AI expertise of the management team when Maria Niiniharju took up the position as the leader of Siili’s Private Business and became a new member of Siili’s management team. In accordance with our strategy, we also expanded our competence through recruitment of data and AI experts, who we have now 43% more compared to previous year. Towards the end of the year, we strengthened our integration expertise by signing an agreement to purchase a majority stake in Integrations Group Oy. With Integrations Group, we will be a stronger partner for our customers in various demanding AI and data integration projects.

We aim to be the best community for digital development professionals, and we continued to develop our culture and leadership further last year. Our efforts to develop Siili’s community were recognized in autumn when Siili achieved 10th place in the Young Professional Attraction Index survey by Academic Work.

In 2025, we will celebrate Siili’s 20th anniversary. With two decades of innovation and growth under our belt, this is a good time to continue Siili’s journey by focusing on the implementation of the strategy and the improvement of profitability during the year. Although we cannot see immediate signs of an improvement in market conditions, our successes in 2024 have proven the performance of our strategy. I want to extend my thanks to the entire Siili team and our customers for the past year. I am looking forward to the opportunity to build new and innovative solutions at the cutting edge of the AI transition.

RISKS AND UNCERTAINTY FACTORS

Siili is exposed to various risk factors related to its operational activities and business environment. The realisation of risks may have an unfavourable effect on Siili’s business, financial position or company value. The most significant risks related to Siili’s operations are described below, along with other known risks that may become significant in the future. In addition, there are risks that Siili is not necessarily aware of and which may become significant.

The loss of one or more key clients, a considerable decrease in purchases, financial difficulties experienced by clients or a change in a client’s strategy with regard to the procurement of IT services could have a negative effect on the company.
Failure to achieve recruitment goals in terms of both quality and quantity, and failure to match supply to customer demand in a timely manner.
Probability and adverse effects of the realisation of the aforementioned risks are more likely in an uncertain economic environment.
Failure in pricing, planning, implementation and improving cost efficiency of customer projects.
Loss of the contribution of key personnel or deterioration of the employer’s reputation.
Realisation of information security risks, for example, as a result of data breach and/or human error by an employee.

General negative or weakened economic development and the resulting uncertainty in the clients’ operating environment. The general economic cycle and changes in the clients’ operating environment can have negative effects through slowing down, postponing or cancelling decision-making on IT investments.

Russia’s war of aggression against Ukraine has not had and is not expected have a direct impact on Siili’s business. However, the general uncertainty and inflation in 2024 continued to affect in particular our clients’ investment decisions, thereby also weighing on Siili’s business. Slow recovery of the economy is expected to continue to affect Siili’s business and growth opportunities also in the current financial year. According to management observations and estimates, the impacts of the market environment in the financial year 2024 were moderate, and they are expected to reduce in 2025. We prepare for these effects by taking care of customer satisfaction and cost efficiency.

EVENTS AFTER THE END OF THE FINANCIAL YEAR

Acquisition of Integrations Group Oy

On 18 November 2024, Siili Solutions Plc announced it had signed an agreement to purchase a stake of 51% of the shares in the Finnish company Integrations Group Oy. The transaction in Integrations Group Oy shares was completed on 2 January 2025. Siili is committed to purchasing the remaining 49% of shares in Integrations Group Oy over the coming years in parts as detailed in the shareholders’ agreement; hence, Integrations Group Oy is consolidated 100% in the Siili Group as of 2 January 2025.

Integrations Group Oy is a company specialising in integration implementations and services, based in Espoo and Tampere. The company’s unaudited revenue for the financial year 2024 was EUR 2.2 million, and its operating profit amounted to EUR 0.3 million. The company has 13 employees. Integrations Group Oy will continue to operate as a stand-alone company under its own brand.

The acquisition of the majority stake in Integrations Group executes on Siili’s strategic objective to expand its business in the growing data and generative AI market.

The acquisition does not have a material effect on the Siili Group’s revenue, adjusted EBITA or balance sheet values. The company will prepare an acquisition cost calculation under IFRS 3 during the first year-half.

DIVIDEND PROPOSAL

In line with the dividend policy approved by its Board of Directors, Siili seeks to distribute 30–70% of its profit for the period to shareholders. In addition, an additional profit distribution can be made.

On 31 December 2024, the distributable assets of the parent company of Siili Solutions Plc amounted to EUR 35,291,522.61, including the profit for the period EUR 1,629,162.50. The Board of Directors proposes to the Annual General Meeting 2025 that a dividend of EUR 0.18 per share be paid for the financial year 2024. According to the proposal, a total dividend of EUR 1,460,215.62 would be paid. The proposed dividend represents approximately 42% of the Group’s profit for the financial year.

No significant changes have taken place in Siili’s financial position since the end of the financial year. The company has a good level of liquidity, and the Board believes that the proposed dividend will not pose a risk to liquidity.

FINANCIAL CALENDAR FOR 2025

Siili will hold a results announcement event for analysts, portfolio managers and the media on 13 February 2025 at 1:00 p.m. The presentation materials will be published on the company website after the event.

The Annual Report 2024 will be published in electronic format on the company website on 14 March 2025.
The Annual General Meeting will be held on 8 April 2025.
The business review for 1 January–31 March 2025 will be published on 22 April 2025.
The half-year report for 1 January–30 June 2025 will be published on 12 August 2025.
The business review for 1 January–30 September 2025 will be published on 21 October 2025.

Helsinki, 13 February 2025

Board of Directors, Siili Solutions Plc

FURTHER INFORMATION:

CEO Tomi Pienimäki

tel. +358 40 834 1399

CFO Aleksi Kankainen

tel. +358 40 534 2709

SIILI SOLUTIONS IN BRIEF:

Siili Solutions Plc is a unique combination of a digital agency and a technology powerhouse. We believe in human-centricity in everything we deliver. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Siili has offices in Finland, Germany, Poland, Hungary, Netherlands, United Kingdom, Austria and USA. Siili Solutions Plc shares are listed on Nasdaq Helsinki Ltd. Siili has grown profitably since it was founded in 2005. / www.siili.com

Attachment

Siili Solutions Plc Financial Statements Bulletin 2024 (unaudited)

The MIL Network –

February 13, 2025

MIL-OSI Australia: GEMMELL ROAD, MACCLESFIELD (Tree Down)

Source: Country Fire Service – South Australia

Advice – Reduced Threat

We will issue a Reduced Threat message when the threat to the community has reduced.

All bushfire incidents that have had an Advice, Watch and Act or Emergency Warning message issued will be finalised with an Advice – Reduced Threat message.

MIL OSI News –

February 13, 2025

MIL-OSI Australia: GROSS ROAD, MYLOR (Grass Fire)

Source: Country Fire Service – South Australia

Homes that have been built to withstand a bushfire, and are prepared to the highest level, may provide safety.

You may lose power, water, phone and data connections.

Fire crews are responding but you should not expect a firefighter at your door.

What you should do

Check and follow your Bushfire Survival Plan.
Protect yourself from the fire’s heat – put on protective clothing.
Tell family or friends of your plans.

If you are leaving

Leave now, don’t delay.
Roads may become blocked or access may change. Smoke will reduce visibility.
Secure your pets for travel.
If you become stuck in your car, park away from bushes, cover yourself, get onto the floor as the windows may break from the intense heat.

If you are not leaving – prepare to defend

Identify a safe place inside, with more than one exit, before the fire arrives. Keep moving away from the heat of the fire.
Bring pets inside and restrain them.
Move flammable materials such as doormats, wheelie bins and outdoor furniture away from your house.
Close doors and windows to keep smoke out.
If you have sprinklers, turn them on to wet the areas.
If the building catches fire, go to an area already burnt. Check around you for anything burning.

MIL OSI News –

February 13, 2025

MIL-Evening Report: Here’s why some people still evade public transport fares – even when they’re 50 cents
Source: The Conversation (Au and NZ) – By Milad Haghani, Associate Professor & Principal Fellow in Urban Risk & Resilience, The University of Melbourne

Public transport in Queensland now costs just 50 cents. Yet in the first six months of the trial, it’s been revealed that thousands of commuters were fined for fare evasion.

More than 3,000 people received fines of A$322 each, amounting to more than $1 million in penalties. And more than 21,000 were issued warnings over this period.

Queensland’s 50 cent fares trial was designed to boost ridership and ease cost-of-living pressures. Now it has exposed a paradox: why do people evade fares even when the price is nearly free?

Fare evasion isn’t just a Queensland problem — it’s a nationwide challenge. Queensland’s experience raises bigger questions about enforcement, policy, and the role of public transport funding.

A nationwide challenge

Across the country, fare evasion drains millions from state public transport budgets. In New South Wales, for example, fare evasion costs the state government about $80 million each year.

The latest NSW Fare Compliance Survey inspected 52,152 tickets, including Opal cards, contactless payments, and single-trip tickets, across the NSW public transport network.

Fare evasion costs the NSW government $80 million a year.
Gordon Bell/Shutterstock

It found most non-compliance came down to passengers travelling without a valid ticket. This included not only those customers carrying no ticket at all, but also those who did have an Opal or other payment card but hadn’t tapped on.

Another form of non-compliance was when passengers used concessions for which they weren’t eligible.

The survey also highlighted variations in compliance – across different modes of transport, times of day and days of the week.

Overall, compliance did not significantly differ between weekends and weekdays.

Looking at weekday use, Sydney Metro had the highest compliance rate at 97%. This was followed by Sydney Ferries (95.9%), all trains (93.6%), Sydney Light Rail (91%) and all buses (89.2%).

Who evades fares and why?

Fare evasion isn’t just about people trying to save money. Research shows there are different types of fare evaders, ranging from habitual dodgers to those who evade unintentionally.

An international study on Santiago’s Transantiago system found that evaders could be categorised into four groups:
- radical evaders who view non-payment as a form of protest
- strategic evaders who evade when they believe the risk of being caught is low
- ambivalent evaders who sometimes pay but don’t always see the value in it
- accidental evaders who forget or run into ticketing system barriers.
A separate study in Melbourne also identified a wide spectrum of attitudes on fare evasion, from those who consider it morally wrong to those who take calculated risks based on enforcement patterns.

Does lowering fares reduce evasion?

Queensland’s 50-cent fare trial presents a real-world test of a long-standing question: does cheaper public transport reduce fare evasion?

Our calculations using the state’s early data show a 27% drop in fare evasion fines since the trial began, compared with the same period in the previous year.

This aligns with the idea that fare evasion is, at least partially, a rational economic decision. When the price is lower, the incentive to evade diminishes – though it does not completely disappear.

Modelling evidence from Santiago’s bus system also suggests price sensitivity, but with caveats. A 10% increase in fares led to a two-percentage-point rise in fare evasion.

The role of trust and public perception

A surprising insight from research is that fare evasion isn’t just an economic decision. It’s a social one, too.

When passengers perceive the system as unfair (due to factors such as unreliable service, high fares or lack of investment), fare evasion rises.

Further, if fare dodging behaviour is normalised within a city or demographic, it spreads like contagion.

Studies have suggested that permissive social attitudes toward fare evasion are as strong a predictor as actual financial hardship.

The limits of enforcement

Most transit agencies rely on two standard deterrents: more ticket inspections, and harsher fines for fare evaders.

Does this approach work? Research suggests only to a point.

All states and territories have had to grapple with the issue of fare evasion.
Adam Calaitzis/Shutterstock

Empirical evidence suggests that potential evaders are more deterred by the certainty of getting caught than by the size of the fine.

In other words, the visibility of inspectors matters more than the penalty itself. For many, the social stigma of getting caught is a key factor, regardless of how big the penalty is.

A crucial question in the Queensland debate is: if public transport is already nearly free, does fare evasion even matter?

The lost revenue from the unpaid fares by those who were issued a fine over the period in question amounts to just $1,663.

Depending on the level of crackdown, at such low fees, enforcement measures could easily end up costing more than the revenue lost. Security patrols, inspections and fine processing can amount to significant costs.

Why it matters

There are at least two key factors to consider in relation to whether cracking down on evaders is worth it.

First, allowing widespread fare evasion could erode social norms around paying for public services. If the expectation of compliance disappears, what happens if fares rise again?

And second, even when fares are zero or near-zero, requiring passengers to validate a ticket (such as by tapping on and off) allows transport agencies to track demand, plan services, and prevent system abuse.

Even in Tallinn, Estonia — where residents ride for free — tap-ons are still required for data collection and preventing system abuse.

Even at 50 cents a trip, authorities still expect public transport to function within a structured system, with rules that encourage accountability and predictability.

But enforcement alone won’t solve fare evasion. Winning public trust is just as important as enforcing rules. Investing in better service quality, reliability and community engagement can be as effective as increasing inspections.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Here’s why some people still evade public transport fares – even when they’re 50 cents – https://theconversation.com/heres-why-some-people-still-evade-public-transport-fares-even-when-theyre-50-cents-249739
MIL OSI Analysis – EveningReport.nz –
February 13, 2025
MIL-OSI Australia: Question Time Response – Universal Service Obligation expansion

Source: Australian Ministers 1

Question – Federal Member for Mayo – Rebecca Sharkie MP

My Question is to the Minister for Communications. 90 per cent of Australians have a smart phone. Will the Government expand the Universal Service Obligation to the mobile phone network in the regions, and, if not, why not?

Answer – Minister for Communications, Michelle Rowland MP

Thank you, Mr Speaker. And I thank the Member for her question and I appreciate the advocacy she has provided for her constituents in her constructive engagement with me on a variety of communications matters across a portfolio.

Universal Service Obligation; Telstra is designated as the universal service provider.

Basically, this is a requirement that has not changed under the current regime since it was put in place. It basically applies to landline services and a pretty basic data service. The intention of the National Broadband Network, when it was conceived by Labor, was to ensure not only that we had broadband capacity across Australia, but that we had a wholesale-only access network vertically integrated that would provide competition into the regions, and this is where it matters.

The Member is very right that there is a complete lack of flexibility when it comes to the Universal Service Obligation and that is why, in 2023, I announced that this Government would undertake a full consultation into how reform could be undertaken here, and how it could best benefit, in particular, those living in regional Australia.

And I also pay credit to the Member for Kennedy – he was been a staunch advocate for reform in this area. Clearly, that needs to be changed. This has been strongly endorsed by every stakeholder in the area, be it from the National Farmers’ Federation, to ACCAN, to the industry themselves. So it is encouraging.

This is an area of long-overdue reform and no reform happened under the previous government for a decade, but, despite that, we have not only undertaken that consultation but considered how it should be funded, and there is a variety of ways it could happen. Telstra has the contract as a universal service provider under those arrangements which happen when the NBN was conceived. They are due to expire – not in the immediate term – but in future years, not a long way away. So, we need to determine out what that is going to look like. The Government has been working diligently in this area and we will have more to say very soon.

But I will make three points: firstly, this is an area where reform was absolutely left lacking under the previous government. Secondly, this is an area where regional Australia has missed out because of that lack of reform. And, thirdly, that lack of reform flies in the face of the fact that Australians are early-adopters and want the best technology and connectivity.

What I can assure the Member is that Labor will be reforming that area, and I look forward to engaging with the Member.

MIL OSI News –

February 13, 2025
MIL-OSI Australia: Building the Goulburn Valley’s future

Source: Australian Ministers 1

The Albanese Government is building the Goulburn Valley’s future, driving economic growth and improved freight efficiency with a partnership with Greater Shepparton City Council to deliver a $22.9 million freight precinct.

The Australian Government will invest $8.5 million in the new Goulburn Valley Link Freight Precinct, with Council committing $14.4 million.

This investment will deliver critical enabling works, including road connections into the new freight precinct, located outside Mooroopna west of Shepparton.

The construction of a new roundabout and upgrades to Simson Road will enable large, High Productivity Freight Vehicles to access the facility.

Works on the project are expected to begin in early 2025.

Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King:

“The Goulburn Valley is a powerhouse of agriculture and innovation, and this freight and logistics precinct will capitalise on its location and its connection to national and interstate transport links.

“I’d like to thank Greater Shepparton for their advocacy on this critical project. Our Government is proud to partner with them to improve the productivity and resilience of freight for the broader region.”

Quotes attributable to Senator for Victoria Jana Stewart:

“The local community has been calling for this new Goulburn Valley Link Freight Precinct and I’m thrilled the Albanese Labor Government is able to support the delivery this project for the Goulburn Valley.

“We are getting on with delivering a better future for all Victorians, and this project will improve freight connections for job-creating regional businesses in our state’s north.

“I’m proud to be part of a Government which believes in boosting our regions, partnering with local councils such as the City of Greater Shepparton, and building the infrastructure we need to thrive.

Quotes attributable to Mayor of Greater Shepparton Cr Shane Sali:

“The GV Link Project has been over a decade in the making and is the result of persistence in making this ambitious project a reality.

“The Australian Government’s investment will be a catalyst for Council to kick start the project, showing recognition that the Goulburn Valley is a national powerhouse for agriculture and industry, especially food manufacturing.

“The GV Link site and future logistics hub is set to boost Greater Shepparton’s growth as a regional centre over the next twenty years.”

MIL OSI News –

February 13, 2025
MIL-Evening Report: This is Australia’s only icebreaker. Here’s why experts say we need another

Source: The Conversation (Au and NZ) – By Jane Younger, Lecturer in Southern Ocean Vertebrate Ecology, Institute for Marine and Antarctic Studies, University of Tasmania

Australia’s Antarctic territory represents the largest sliver of the ice continent. For decades, Australian scientists have headed to one of our three bases – Mawson, Davis and Casey – as well as the base on sub-Antarctic Macquarie Island, to research everything from ecology to climate science.

But despite our role as leaders in Antarctic science, Australian funding and logistics for Antarctic research hasn’t kept pace. Our single icebreaking vessel spends most of its time on resupply missions, restricting its use for actual science. And funding is often piecemeal, which makes it hard to plan the complex, multi-year efforts it takes to do research down on the ice.

This week, we saw a welcome change. The federal parliamentary committee on Australia’s external territories delivered a report calling for a second icebreaking vessel and more reliable funding. It also urged the government to progress work on marine protected areas in east Antarctica as well as resume fishing patrols, due to concern over illegal or exploitative fishing.

These measures are long overdue. For those of us who work and study on the ice continent, logistics and funding have long been a challenge. Illegal fishing in Antarctica must be stamped out, and a second vessel would support our ambitious, world-leading science.

Why is Antarctic science so important?

Antarctica is often out of sight, out of mind for many Australians. But what happens on the ice doesn’t stay there.

For climate science, Antarctica matters a great deal. For decades, much of the concern about melting ice focused on the Arctic and Greenland, while Antarctica stayed relatively stable. But this is now changing. Sea ice is melting more quickly than in the past. Glacial ice is retreating. Increased melting will affect sea level rise and ocean currents.

I study diseases such as the lethal strain of bird flu which has devastated bird and some mammals populations around the world. It recently reached Antarctica, where it killed large numbers of penguins, skuas, crabeater seals and more. I saw the devastation myself on my recent journey there.

If this strain makes it to Australia – the last continent free of it – it could come from the south and devastate both Australian wildlife and poultry.

To study these large and important changes, we need to be down there on the ice. It’s not an easy task. Keeping our bases functional means we need regular resupply missions. Repairs and extensions require tradies. Scientists and other workers need to be brought home.

Antarctic science has long relied on just one vessel, now the RSV Nuniya, which the Australian Antarctic Division describes as the “main lifeline to Australia’s Antarctic and sub-Antarctic research stations and the central platform of our Antarctic and Southern Ocean scientific research”.

The problem is, resupply can trump science. After all, no one wants bases running short of food or fuel. This is, in fact, what the Nuniya is largely doing.

Australia’s role is key

The Australian Antarctic Territory represents about 40% of the ice continent – the largest territory by far.

Territory, here, doesn’t mean exclusive rights. In 1959, 12 nations with a scientific interest in the ice continent signed the Antarctic Treaty. This treaty was an agreement that Antarctica – the only landmass with no indigenous human presence – would be reserved for peaceful, scientific purposes.

But in recent years, this treaty has come under pressure. Nations such as Norway and China have expanded fishing operations for krill. Illegal and unregulated fishing from various nations continues.

The report recommends the Australian government continue efforts to establish a marine protected area off East Antarctica – where fishing would be restricted – as well as reopening fishing patrols. China – which recently opened its fifth Antarctic base – is opposed to the idea of fishing-free zones and is pushing to expand fishing in the Southern Ocean.

Under Antarctica’s ice lie many resources. Mining is banned in Antarctica until 2048. What happens after that is uncertain. The race to tap critical minerals in Greenland signals what may lie ahead for Antarctica.

This is why Australia’s leadership in Antarctic science matters. Australia was an original signatory to the Antarctic Treaty, and has a long history of exploration and science. Hobart has long been the home of Australia’s Antarctic vessels.

As Antarctica changes, Australian scientists must be there to analyse, understand and report back. To do that, improvements are needed, including new vessels and longer-term funding. This report is the first step.

The government is yet to formally respond to the report’s recommendations. Let’s hope it takes heed of the findings.

Jane Younger receives funding from the Australian Research Council, WIRES Australia, the Geoffrey Evans Trust and the National Geographic Society.

– ref. This is Australia’s only icebreaker. Here’s why experts say we need another – https://theconversation.com/this-is-australias-only-icebreaker-heres-why-experts-say-we-need-another-249714

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: Short-term politics keeps stalling long-term fixes. This bill offers a way forward

Source: The Conversation (Au and NZ) – By Susan Harris Rimmer, Professor, Griffith Law School, Griffith University

Two federal politicians from opposing camps reached across the aisle this week to promote a valuable cause – the wellbeing of future Australian generations.

Independent MP Sophie Scamps tabled the Wellbeing of Future Generations Bill 2025, which was seconded by Liberal backbencher Bridget Archer.

In an election year no less, this was a highly unusual moment of bipartisan collaboration.

It is extremely rare for private members bills to be passed into law. But the ideas in the Scamps bill have merit – especially its central recommendation that all decision makers properly consider the needs of young people when drafting government policy.

The bill was a direct response to a diverse civil society campaign in Australia and overseas to prioritise long term solutions to deliver a fairer, more sustainable future.

We support those efforts through our involvement in the youth-driven non-profit Foundations for Tomorrow, which worked closely with Scamps on her bill.

What is in the bill?

The bill would introduce a range of measures to try and apply a future focus to decision making across the policy spectrum. This includes housing, environment, climate change, mental health and job security, all of which are pressing issues for young people.

An independent Commissioner for Future Generations would be appointed to advocate for better policies and sustainable practices, while the government would have a public duty to always consider the best interests of future generations.

Importantly, a national conversation would be launched to engage Australians in a public consultation to help shape the nation’s vision for the future.

What is future governance?

Globally, we are in a state of polycrisis.

We are confronting cascading climate disasters, intense regional conflicts and geo-strategic competition. In response to this, a growing international movement representing the interests of future generations has emerged.

The concept incorporates an approach to decision making that overcomes the trappings of short-term, inadequate solutions. Instead, the emphasis is on planning for the future, not just the here and now.

Here in Australia, it aspires to future-proof the country by managing extreme, long-term risks that are damaging current and future prosperity.

Growing inequality is showing up in many policy areas, none more so than in the housing wealth gap between people in their 30s and 50s, which has widened to an extraordinary 234%.

By improving governance, it is hoped that intergenerational justice will be achieved. This ethical lens is compatible with the Australian Public Service value of good stewardship.

A global movement

Many countries, including Scotland, Finland, the United Arab Emirates and Singapore, are exploring ways to reorient their policy making towards a better understanding of long-term impacts of decisions taken now. It has also been taken up by the United Nations and the European Union.

The Australian bill is based on the experience in Wales, where similar legislation was introduced in 2015.

The Welsh model has delivered significant practical benefits by including community involvement in planning, and protecting essential services from election cycles. For instance, environmental protection has been given higher status in decision making about transport.

The Australian landscape

Australia has undertaken other efforts to think long term. The Intergenerational Report was launched by former treasurer Peter Costello in 2002 to build consensus around the big issues facing Australia over the next 40 years.

The most recent report, in 2023, identified five major areas needing future generations policy. These were population and ageing, technological and digital transformation, climate change and the net zero transformation, rising demand for care and support services, and geopolitical risk and fragmentation.

The ideas in the Wellbeing of Future Generations bill could help guide policy in these critical areas. It would be an improvement on our current approach of recognising issues, but constantly kicking the can down the road.

There have been other excellent future generations measures at all levels of government. One of these is the Albanese government’s commitment to the Measuring What Matters framework.

And there is merit in independent Senator David Pocock’s Duty of Care Bill and the establishment of the Parliamentary Group for Future Generations at the Commonwealth level.

An increasing number of leaders and policy makers are recognising the power and potential of expanding our definitions of policy success.

Young voters and the 2025 election

However, much more needs to be done to overcome intergenerational inequities. Policy-making continues to be driven by short-term political objectives, which is eroding trust and optimism in Australia’s future.

In a 2021 survey for Foundations for Tomorrow, 71% of young Australians said said that they “do not feel secure”. Young people are also drifting away from supporting the major parties, especially the Coalition.

Tabling her bill, Scamps correctly pointed out that today’s young Australians are the first generation in modern history to be worse off than their parents.

Australians want politicians to start thinking beyond their own re-election prospects. They want long term solutions, they want vision, they want hope. We owe them that much.

A recent survey by EveryGen (a network convened by Griffith University’s Policy Innovation Hub) found that 81% of Australians feel that politicians focus too much on short-term priorities. An overwhelming 97% of people believe that current policies must consider the interests of future generations.

Genuine futures thinking is not always easy. But it does add an important ethical dimension to decision making, that of real attention to political legacy.

Susan Harris Rimmer receives funding from the Australian Research Council. She is affiliated with Foundations for Tomorrow as a board member who are running the For the Future campaign, and is founder of the EveryGen network. EveryGen is a member of the Intergenerational Fairness Coalition.

Elise Stephenson receives funding from the Australian Research Council. She is a founding member of the EveryGen network and supporter of Foundations for Tomorrow. EveryGen is a member of the Intergenerational Fairness Coalition.

– ref. Short-term politics keeps stalling long-term fixes. This bill offers a way forward – https://theconversation.com/short-term-politics-keeps-stalling-long-term-fixes-this-bill-offers-a-way-forward-249598

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI Australia: Teenager arrested over incidents at Mitcham

Source: South Australia Police

A teenager has been arrested following investigations into incidents at Mitcham this morning.

An incident occurred about 1.15am on Thursday 13 February when a man walking along Wattlebury Road, near Barrans Reserve, Lower Mitcham was allegedly threatened by a teenager on a bike.

A short time later, about 2.30am, a man was sitting in his car parked at the Mitcham Shopping Centre when he was allegedly approached by a male who threatened him.

In both instances, the suspect was believed to be armed, possibly with an axe.

A 16-year-old boy from Kingswood has been arrested and charged with aggravated assault. He was bailed to appear in the Adelaide Youth Court on 2 April.

Investigations are continuing.

Anyone with any information that may assist the investigation can contact Crime Stoppers at www.crimestopperssa.com.au or on 1800 333 000.

MIL OSI News –

February 13, 2025
MIL-Evening Report: Heads vs tails? A simple coin flip can be enough to change how we treat others

Source: The Conversation (Au and NZ) – By Eliane Deschrijver, Senior Lecturer in Social Psychology and Neuroscience, University of Sydney

Circles in a Circle (1923) Wassily Kandinsky / Philadelphia Museum of Art / The Louise and Walter Arensberg Collection, 1950

Imagine you are asked to give a small amount of money to a stranger. It’s not your money, so it doesn’t cost you anything. You’re just deciding how much they get.

But first, a pair of coins is flipped – one for you and one for the stranger – and you are told the results.

Would the coin flip change how much money you give? Specifically, would you give them a larger amount if you both got heads or tails than if you got different results?

As we discovered in a series of experiments with more than 1,400 participants, the coin flip – or other seemingly insignificant points of similarity or difference – might well affect your behaviour.

In a new paper in Proceedings of the National Academy of Sciences, we show how understanding why even a coin flip can influence behaviour might help us understand what makes people discriminate against others.

‘Us’ versus ‘them’

Historically, many psychological theories that aim to explain discrimination have focused on group processes, rather than on how we respond to individual people.

This focus on group processes followed, in part, from the discovery that people benefit their own group over another group even if the division into groups had happened based on seemingly irrelevant features.

The use of such features has been crucial for explaining the core psychology of discrimination, stripped from any wider societal elements such as race, gender, values or attitudes.

In the seminal “minimal group” experiment, people were assigned to one of two groups based on seemingly irrelevant differences. Some groups were split by a preference for the paintings of Paul Klee versus those of Wassily Kandinsky, others by whether they had over- or underestimated the number of dots in an image. Some were even allocated to groups by a random event like a coin flip.

The so-called ‘minimal group’ experiment showed that separating people into groups was enough to make them favour members of their own group.
Andrii Yalanski/Shutterstock

The result? Klee fans tended to give financial benefits to other Klee fans ahead of Kandinsky enthusiasts. Likewise, people in the “heads” group favoured their own group over those in the “tails” group.

The results could not be explained easily by existing research at the time. Some theories had emphasised that people show favour towards an individual after agreeing on more meaningful topics than painting preferences or dots estimations. The meaningful topics were things like one’s belief system, values or political or religious views.

Small studies had also found that a coin flip – which didn’t lead to explicitly dividing people into groups – was not enough to make people show discriminatory tendencies.

An influential theory called social identity theory thus concluded that social categorisation – thinking in terms of “us” versus “them” – could lead to people discriminating. This was tied to an idea that people elevate their self-image or improve their self-esteem by benefiting their own group over others.

New research emphasises a role for even random similarity versus difference

In our recent research, we set out to reassess whether group division is crucial to understand discriminatory tendencies.

We carried out seven experiments with over 1,400 participants in total (all based in the United Kingdom).

The study analysed data from participants who were asked to either repeatedly choose their preferred painting from two, estimate the number of dots presented in a “cloud”, or take part in a coin toss.

After each choice or coin flip, participants had to assign money to another person (the same person each time).

The result of a coin flip was enough to change how study participants treated another person.
Motortion Films/Shutterstock

The only information participants were given about the other individual was their outcome in the same situation. Neither participants nor the other person were assigned to groups. Someone asked to pick between two paintings, for instance, was only told which painting the person they were allocating money to preferred in that instance.

Participants allocated on average 43.1% more money to another person who demonstrated the same judgement – or chance outcome – to their own.

Our research demonstrates that some of our discriminatory tendencies may be driven by individual difference versus sameness even when that difference or sameness is based on random chance, like a coin flip.

The findings raise the possibility that more basic neural processes than thinking about groups may have contributed to these outcomes.

Detecting a difference often comes with a conflict signal in the brain, and may come with negative emotions. Sameness with another person may hence lead to a more favourable treatment. However, this potential explanation will require further research.

Why does this matter?

The findings can help understand our own tendencies for favouring another person.

Previous research had suggested that “incidental similarity” with somebody, such as sharing a birthday or a name, can influence pro-social behaviour or liking because we associate the person with the way we see ourselves.

Our research surprisingly suggests that something similar can happen on the basis of an even less-relevant chance event such as a coin flip.

This may affect how we think about discrimination. We usually understand discrimination as making unfair distinctions between people based on groups or other social categories.

Our research suggests future perspectives on discrimination may incorporate a role for individual-level difference, too.

Does this new understanding suggest ways we can lessen discrimination? At this stage, they would only be speculative.

However, earlier scientific efforts to find ways to reduce prejudice and discrimination have largely been informed by group-based theories of discrimination. For example, some interventions have aimed to influence people’s perceptions of other groups.

In the same way, our new findings may inspire future research into interventions based on individual-level drivers of discrimination.

Eliane Deschrijver receives funding from the Australian Research Council.

Richard Ramsey does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Heads vs tails? A simple coin flip can be enough to change how we treat others – https://theconversation.com/heads-vs-tails-a-simple-coin-flip-can-be-enough-to-change-how-we-treat-others-249611

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI Australia: Sally Sara, ABC Radio National

Source: Minister for Trade

Sally Sara: Well, Australian industry is on tenterhooks, awaiting indications on whether there’ll be an Australian exemption from US tariffs on steel and aluminium. The Trade Minister, Don Farrell, has his bags all but packed, ready to fly to the US to meet his US counterpart, Howard Lutnick, as soon as Mr Lutnick is confirmed in the role. But before that, Mr Farrell is at the centre of electoral forms. He has negotiated with the Coalition in what integrity experts have called an affront to our democracy.

Don Farrell is with me in the studio. Don Farrell, welcome to Radio National Breakfast.

Minister for Trade: Nice to be with you, Sally.

Sara: You’ve got quite a bit on in your portfolios at the moment. Let’s start with the question of tariffs. Has Australia been killing the American aluminium market as Donald Trump’s senior trade adviser, Peter Navarro has accused Australia of doing?

Minister for Trade: I don’t believe we have, Sally. We make a terrific product here in aluminium. It’s a high-quality product. Australian companies do really well in the export market, and we sell our product to willing purchasers in the United States. I think we the reason we’re making those sales, of course, is the high quality and the high value of the product we sell. And I don’t believe we have done at any stage anything that has not been agreed to by the American Government.

Sara: Has DFAT been reporting the sales of Australian steel and aluminium to the US Commerce Department?

Minister for Trade: Well, I can’t say I know exactly how that information is collected by the Americans. I’m sure they have accurate figures on what we export into the United States. I think it’s important to remember, Sally, that in the relationship between Australia and the United States, it’s overwhelmingly in the United States’ favour. We have trade worth about $100 billion. $30 billion of that is what we sell for the United States, but 70 billion is what the Americans sell to us.

Sara: Minister, I’ll bring you back to the question, though. Have we been – has Australia been reporting the volumes of steel and aluminium exports to the US Commerce Department?

Minister for Trade: I’m sure that we comply with all of the obligations that America imposes on those companies that are supplying into the United States. And it wouldn’t matter whether it was beef or lamb or grain or steel or aluminium, I would be absolutely certain Australian companies comply with all of their obligations in terms of reporting into the United States. But just getting back to my other point —

Sara: But has DFAT been passing on those figures to the US Department of Commerce?

Minister for Trade: I don’t know who is responsible for reporting to the United States, but whoever it would be, would be complying with all of the obligations.

Sara: So, you you’re not sure?

Minister for Trade: Well, I don’t know exactly – I don’t get down into those precise details, but I’m certain that we comply with all of our obligations to report to the United States Government in terms of whatever exports that we might be passing on into the United States.

Sara: There’s a bit of a tangle of words here on the previous exemption what’s your understanding? Did the Coalition Government give a verbal agreement about limiting Australian aluminium being exported into the United States, which it then didn’t abide by?

Minister for Trade: You’d have to ask Mr. Morrison or —

Sara: What’s your understanding?

Minister for Trade: Well, look, they are matters for Mr Morrison or Mr Birmingham, who was the Trade Minister at the time. What I’m aware of is what we’ve been doing over the last three years, and I think we have been complying with all of the arrangements that were in place and the appropriate arrangements that were in place to ensure that we continued to supply high-quality Australian-made aluminium into the American market.

Sara: Has DFAT been in contact with Australian aluminium exporters urging them to contain the amount of aluminium – Australian aluminium – that’s going into the US, has that occurred?

Minister for Trade: I would say DFAT is very commonly in contact with all of the Australian companies that sell product into the American market. Where there are arrangements in place we would ensure that the companies that export to the United States are fully aware of their obligations.

Sara: How can you comply with a deal when you’re not sure what that deal was?

Minister for Trade: Well, I’m not sure quite what you’re referring to —

Sara: In terms of containing what the previous promise was.

Minister for Trade: I would expect, and I understand that Australian companies that export to the United States are exporting on the basis of what they understand to be the rules.

Sara: What do you understand the rules to be?

Minister for Trade: Well, we were given an exemption by the former, well, President Trump when he was formally president for the first time, and we have supplied aluminium in accordance with that arrangement. I might say the total amount of aluminium that we supply to the United States is a relatively small amount in the scheme of things and –

Sara: What’s your understanding of the deal when it comes to the amount that we are allowed to send?

Minister for Trade: Well, I understand that there’s a ceiling to how much we export to the United States. Of course, in the middle of all of this you had the Russia-Ukraine war. And I understand that because of difficulties in arrangements between getting Russian aluminium into the United States, we increased the amount of aluminium that we supplied into the American market. But all of that was done with the full knowledge of the American Government. We haven’t done, at any stage, anything that the American Government has not been comfortable with.

Sara: Minister, I need to ask you about electoral reforms. After the deal was announced yesterday, the Centre for Public Integrity issued a statement saying they’ve been advocating for political donations reform and transparency for a long time. But in terms of this agreement, they’ve described it as an affront to our democratic process and the legislation went through without proper process and scrutiny. What’s your response to those comments?

Minister for Trade: Well, Sally, I say this. From the time that I became the Special Minister of State three years ago, we have worked on reforming the Australian electoral system. We want to make it easier for ordinary Australians to participate in the electoral process. And you shouldn’t have to be beholden to billionaires in order to successfully run for politics in Australia. I want to see the ideas of Australia being the issue that determines whether or not they are or are not elected, not their wealth. And what we did last night was, as you say, dramatically increase the transparency of the Australian political system. For the first time, when you walk into the ballot place in the election after next, so, it doesn’t apply to this election because we’re so close to the election, for the first time, you’ll know exactly who else is donating to the candidate that you’re contemplating supporting. These are significant reforms. We’re capping the amount of money that you can spend on elections. Instead of the cost of elections blowing out, we are capping those costs.

Sara: Do you understand the criticism of the independents? Because they will be capped with this per candidate cap. But if a candidate is a member of a major party, they’ll have the money under that per candidate cap and then another pot of money that is capped with the party. In other words, they have access to two pots of money.

Minister for Trade: Can I say that they are completely wrong about that assessment. At the moment, there is no cap at all on how much candidates or parties can spend. The major parties, the Labor Party, the Liberal Party, have voluntarily capped the amount of money that they can spend on an election. So, that, in fact, it’s the opposite of the criticism that is being made about this legislation. We’re actually reducing the amount of money that the major political parties can spend on an election and that is to the benefit of all candidates. And can I say this, Sally? We’ve kept the amount of money you can spend on a single electorate at $800,000. If you can’t get your message out to the Australian people with a spend of $800,000, then there’s something wrong with your campaigning.

Sara: Minister, we’ll need to leave it there. You’ve got a lot on your plate at the moment. Thank you so much.

Minister for Trade: Thanks, Sally.

MIL OSI News –

February 13, 2025
MIL-OSI Australia: National Electricity and Gas rules update: January 2025
Source: Allens Insights
Key changes to energy rules

In our latest update, we examine the progress of new and existing rule change requests to the AEMC across the month of January and take a closer look at the AEMC Reliability Panel’s review of the System Restart Standard.

Key takeaways

National electricity rules

Two new rule change requests:

Removing the requirement to publish transmission information guidelines.

Amendment to frequency performance payment cost recovery.

One completed rule change:

South Australian jurisdictional derogation – Interim reliability reserve eligibility.

Opportunities for stakeholders

Due by 13 February 2025:

Amendment to frequency performance payment cost recovery.

Due by 20 February 2025:

Real-time data for consumers.

Due by 27 February 2025:

Removing the requirement to publish transmission information guidelines.
Read more about this topic

MIL OSI News –
February 13, 2025
MIL-Evening Report: New play Housework is a future Australian classic – a Don’s Party for our time

Source: The Conversation (Au and NZ) – By Catherine Campbell, Lecturer, Performing Arts, UniSA Creative, University of South Australia

Matt Byrne/STCSA

Housework, a new play by Emily Steel, lifts the rock off politics to expose its crawling, ruthless, yet undeniably comic underside. The result is masterful, hilarious and deeply incisive.

Housework opens with the day-to-day demands of a local MP electorate office and then sweeps to the halls of power in Canberra.

Chief of staff Anna Cooper (Emily Taheny), media advisor Ben (Benn Welford) and junior staffer Kelly (Franca Lafosse) try to perform damage control for their headstrong, cherry-picked, first-term MP Ruth Mandour (Susie Youssef).

In Canberra, Ruth is preparing for her first private member’s bill, calling for health care reform; Anna has a sick child back home; and Ben is absent with COVID. Add in a star-struck young female staffer, a predatory older male MP (Paul, played by Renato Musolino), and a photo of them leaving a bar together and we strap in for a rollicking ride through media manipulation, personal and political sacrifice, and the fleeting moments of power.

It is absolutely compelling and all too recognisable.

This is everything you’ve always wanted to know about Australian politics but were too afraid to have your worst fears confirmed. Steel’s play is laugh-out-loud funny in its satire and send-ups. But it is also deeply affecting in her bleak but loving depiction of the chasm between personal dreams and the reality of politics.

Uproarious comedy

Steel has based her script on interviews with politicians and staffers (confidential, of course) and media stories. She centres the experiences of women in politics, personal lives, gender roles, sexism, fighting the patriarchal socio-political systems. This sits within the story of a new MP butting up against potential scandal and the power plays of Parliament, and the relentless 24-hour news cycle.

It is a timely reminder of the barriers that continue to obstruct social equality.

The cleaning woman eventually gets one of the best skewering zingers of the play.
Matt Byrne/STCSA

Steel’s script is bookended with a woman cleaning (who eventually gets one of the best skewering zingers of the play). The constant references to rubbish disposal are a highlight, from the hilarious opening scene (“we don’t do bins”) to the frantic scramble to weaponise a “scandal” and who is sacrificed to save who.

Steel’s writing revels in the roller coaster of political life, balancing the high comedy with deep insight into the human cost.

This is the kind of play you want to see again to delight in Steel’s use of language, the uproarious comedy and the undercurrents of bloodthirsty power.

A brilliant cast

Director Shannon Rush has expertly paced this excellent cast to bring out every laugh, back stab and all-too-familiar power jostle. They don’t miss a beat or drop a spark of energy. The sense of building political pressure and personal conflict is relentless and exciting; the depiction of the sense of place and power is spot on.

Every one of Steel’s political animals is instantly recognisable. We watch them with morbid fascination as they spar, jostle, align and detonate, revealing more of themselves as the stakes rise.

Every one of Steel’s political animals is instantly recognisable.
Matt Byrne/STCSA

Taheny effortlessly makes the whip-smart staffer Anna multifaceted, with internal conflict alongside high-energy pragmatism and expertly timed comedy. Youssef’s Ruth is blunt, no-nonsense and idealistic, with comically few diplomatic skills and no idea how the machinations of government work – but an unflinching desire to make a change for good.

Lafosse brings depth, subtlety and excellent comic foil timing to the young idealist. Musolino revels in the role of the leader-in-waiting Paul, giving us a joyously morally bankrupt character. Every moment of his scenes is a delight and his repulsively predatory-yet-attractive older white male politician was all-too recognisable. The scenes between Paul and Taheny’s Anna spark and hum with energy and presence.

Welford is wonderful as Ben the media officer and Duncan the party apparatchik, bringing out the offhanded ruthless grabs for power and casual decimations between laughs.

Youssef’s Ruth is blunt, no-nonsense and idealistic, with comically few diplomatic skills.
Matt Byrne/STCSA

The ensemble cast all play smaller roles, filling out the world of parliament with the faceless “schemers and plotters” in the back rooms and corridors, ABC news journalists, and continual stream of environmental protesters.

Sunitra Martinelli plays both the ever-present (and mostly voiceless) cleaner, and the prime minister. This pairing is a genius move, played with presence and deft contrast. The cleaning woman, constantly fixing the mess others make, bookends the play as a constant reminder of the mopping-up required for the people in power. Politics is literally a dirty business.

A future classic

Ailsa Paterson’s stylish set references the stark white outside of Parliament House in Canberra. The repetitive doorways and hallways, entries and frames for the machinations of the people of government. A rotating long timber table divides the scenes and the sides of parliament.

Sound design by Andrew Howard punctuates scene changes and mood swings with pounding relentless pace, the tick-tock of time passing, and rich sonic textures to create the insistent, driving tempo of government.

The stylish set references the stark white outside of Parliament House in Canberra.
Matt Byrne/STCSA

Nigel Leavings’ lighting is superb, creating menace, blinding office fluros, and shadows in this mad-rush-to-the-top climb over the bodies of everyone to get to the top.

Housework is firmly in the now-familiar worlds of Total Control (2019–24), Rake (2010–18) and The Thick Of It (2005–12). It is a deft capturing of a socio-political moment in time, undeniably Australian and gloriously uncompromising.

Dare I say it, this a future Australian classic: a Don’s Party for our time, but with fewer blokes and WAGs – and a female PM.

Housework is at the State Theatre Company South Australia until February 22.

Catherine Campbell does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. New play Housework is a future Australian classic – a Don’s Party for our time – https://theconversation.com/new-play-housework-is-a-future-australian-classic-a-dons-party-for-our-time-249019

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: Menopause hormone patches are in short supply. What are they? And how do they compare with other therapies?

Source: The Conversation (Au and NZ) – By Mary Bushell, Clinical Associate Professor in Pharmacy, University of Canberra

DimaBerlin/Shutterstock

The federal government yesterday released its response to the Senate inquiry into issues related to menopause. The inquiry recommended the government examine options to make menopause hormone therapy (MHT, or sometimes called hormone replacement therapy) more affordable and accessible, and address drug shortages.

In response, three MHT products will be added to the Pharmaceutical Benefits Schedule (PBS): Estrogel and Estrogel Pro (gels) and Prometrium (a tablet). From March 1, this will bring the cost down to A$31.60 a month ($7.70 concession).

Some MHT skin patches are already subsidised on the PBS, but they’re in short supply globally. This is due to a combination of factors including manufacturing issues, unexpected increases in demand and the discontinuation of the Climara brand of patch.

When patients can’t access their MHT patches, they may be prescribed alternative brands that aren’t listed on the PBS, potentially costing more. Others will switch to different formulations, combinations and or strengths to try to get the same effect.

So what are MHT patches? And how do they compare with gels, tablets and other formulations?

First a quick recap of menopause

During the transition to menopause, the ovaries gradually produce less oestrogen until they stop altogether.

This hormonal change can lead to a range of symptoms, including hot flushes, night sweats, sleep disturbances, mood swings, memory problems and vaginal dryness.

Over time, the reduction in oestrogen also increases the risk of health problems such as osteoporosis.

To help reduce the sometimes-debilitating symptoms, some women may be prescribed hormone therapy. This typically includes an oestrogen hormone (such as oestradiol or conjugated oestrogens) and, for women with an intact uterus, a progestogen. Therapy with both hormones is known as combination therapy.

If taken alone, oestrogen stimulates endometrial growth, increasing the risk of endometrial hyperplasia (irregular thickening of the uterine lining) and cancer. Progestogens counteract this by promoting regular shedding.

Women without a uterus (after a hysterectomy, for example) do not require progestogens as there is no endometrium to protect.

What are the different MHT formulations?

Early MHT, used in the 1940s, used oestrogens extracted from the urine of pregnant mares. Oral formulations derived from this source, such as conjugated equine oestrogens (such as Premarin, short for PREgnant MARes’ urINe), are still available.

These days, MHT can be broken down into two types of formulations:

1. ‘Systemic’ treatments such as tablets, patches or gels

Tablets and capsules are swallowed, while patches and gels are applied to the skin.

These treatments affect the whole body and are usually best for the vasomotor symptoms such as hot flashes and night sweats, as well as to prevent bone loss.

2. ‘Localised’ treatments, such as creams and pessaries

These are inserted into the vagina, and act on the vagina and surrounding tissues. They are absorbed in very small amounts into the bloodstream, much lower than systemic treatments, and are unlikely to have significant effects on the rest of the body.

Creams and pessaries contain oestrogen alone, and are the best option for treating dryness and discomfort in the vagina.

They can also help prevent frequent urinary tract infections and improve some bladder problems, such as urinary urgency and urge incontinence.

It is possible for women to use different forms of oestrogen and progestogen in their hormone therapy regimen. They might use an oestradiol patch to deliver oestrogen, for example, and take oral progesterone to provide the necessary progestogen component.

Potential MHT side effects include oestrogen-related, headaches, breast tenderness or pain, nausea, leg cramps, mood changes, vaginal bleeding or spotting, bloating, swelling of the hands or feet, indigestion, and skin irritation with patches.

Patches vs tablets and gels

MHT patches, which have been available since the 1990s, are now more widely used and often preferred.

Patches deliver a consistent dose of hormones directly into the bloodstream through the skin, bypassing the liver. This mimics the natural release by the ovaries and provides steady hormone levels into the bloodstream.

Gels, like patches, bypass the liver. They are associated with less skin irritation than patches, making them a preferable option for people sensitive to adhesives or prone to skin irritation.

In contrast, oral formulations must be absorbed by the gut and then pass through the liver, where the drug gets processed. Some will be broken down, some will be converted to active metabolites, before entering the bloodstream. This can result in fluctuating oestrogen levels and more side effects than the more consistent delivery provided by patches.

When oral oestrogen goes through the liver, there is also an increase in the production of clotting factors. For this and other reasons, oestrogen patches have a lower risk of blood clots compared to oral tablets and capsules. Women with an elevated risk of blood clots – including those who are obese, smoke, or have a history of clotting disorders – often prefer patches.

Patches, which are applied once or twice weekly, are designed to make it easier to stick to than tablets and gels MHT, which requires daily dosing.

What if you need to switch?

Currently, both oestrogen and combination skin patches are in short supply in Australia.

The differences in absorption and metabolism between formulations mean that switching directly from one dosage form to another might not maintain the same level of symptom control or could cause new side effects.

MHT guidelines provide prescribers with information on dose equivalence between formulations – for example, switching from an oestrogen-containing patch to a gel or tablet – ensuring women have a range of options available and for treatment to be tailored to their individual needs.

To address the shortages, the Therapeutic Goods Administration (TGA) has enabled pharmacists to dispense alternative brands or strengths of estradiol patches without requiring a new prescription. This might mean, for example, two lesser strengths that add up to the strength prescribed.

The TGA also temporarily approved the supply of MHT patches from the United States in June, and listed them on the PBS, but these are now also in short supply.

What if you’re new to MHT?

The TGA is advising prescribers to consider current shortages when initiating patients on MHT.

First-time MHT patients may be prescribed readily available formulations to avoid therapy changes and to preserve stock for those already using patches.

The TGA expects some patches to be out of stock until December 2025 and provides regular updates about the estimated dates the patches will be available again.

Mary Bushell does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Menopause hormone patches are in short supply. What are they? And how do they compare with other therapies? – https://theconversation.com/menopause-hormone-patches-are-in-short-supply-what-are-they-and-how-do-they-compare-with-other-therapies-245166

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI Australia: Speech – Address at Parliament House
Source: Australian Executive Government Ministers

The Albanese government is committed to putting Australian consumers at the heart of the telecommunications industry.

We want to ensure that all Australians have access to reliable, high-quality and affordable telecommunications services, supported by a strong regulatory and consumer safeguards framework.

That is why this government has been actively reviewing the telecommunications consumer protection framework and making appropriate changes.

This includes implementing new rules to better support consumers who are experiencing financial hardship and, more recently, directing the Australian Communications and Media Authority, or ACMA, to make new rules to support people who are experiencing domestic, sexual and family violence.

The Albanese government understands how critical telco services are for everyone, including those facing vulnerable circumstances, people living in our regions, First Nations Australians and those who rely upon connectivity to support their families and provide services to their communities.

Accordingly, we want to ensure that the telco industry is working for Australians, that they have the best consumer safeguards in place to protect their interests, and that there is a strong, clear recourse if telcos do the wrong thing.

Nobody wants an industry that sees penalties as the ‘cost of doing business’.

We’ve listened to wideranging feedback from industry, regulators, the Telecommunications Industry Ombudsman and consumer advocates to develop these reforms.

The Telecommunications Amendment (Enhancing Consumer Safeguards) Bill will improve compliance and enforcement of telecommunications consumer safeguards and constitute a comprehensive package of reforms to those arrangements.

They will help to ensure that the ACMA is an empowered and effective regulator and that appropriate incentive structures are in place to drive better behaviour by telcos.

The bill improves compliance and enforcement of consumer safeguards in several important ways.

Schedule 1 will establish a carriage service provider registration scheme.

The scheme will increase visibility of carriage service providers and enable the ACMA to stop providers who pose unacceptable risk to consumers or cause significant consumer harm from operating in the market.

Increased visibility of the market will provide improved pathways for the ACMA (and other government agencies) to educate carriage service providers on their regulatory obligations, streamline complaints and compliance processes and create better overall market accountability.

Empowering the ACMA to stop providers operating in the market will provide a deterrent for significant noncompliance and increase trust by consumers in registered providers—including new or smaller ones.

Schedule 2 of the bill will make industry codes directly enforceable.

This allows the ACMA to take immediate and appropriate action to address consumer harm and will incentivise industry compliance.

Currently, the ACMA cannot take direct enforcement action against breaches of industry codes, no matter how significant, without first issuing a direction to comply, and the ACMA can only take further action if noncompliance continues.

The proposed changes remove this two-step enforcement process so that the ACMA can act quickly and appropriately to address consumer harm arising from code breaches and hold telcos to account.

Schedule 3 will increase the maximum general civil penalty for breaches of industry codes and industry standards from $250,000 to 30,300 penalty units, which is currently $9.9 million.

This aligns with penalties currently available for breaches of service provider determinations, meaning the penalty amount for these three types of regulatory instruments will be aligned.

The schedule will also modernise the penalty framework for these instruments to allow penalties based on the value of the benefit obtained from the conduct or the turnover of the relevant telco—allowing for greater penalties in certain circumstances.

Overall, this penalty framework better aligns with those in other relevant sectors like energy and banking, and under the Australian consumer law.

Schedule 4 of the bill expands and clarifies the authority of the Minister for Communications to increase any infringement notice penalty the ACMA can issue for breaches of telecommunications rules.

Taken together, the reforms in the bill strengthen consumer protections and enhance compliance and enforcement of telecommunications consumer safeguards, for the benefit of the whole community.

They reflect the Albanese government’s commitment to making sure Australians are appropriately protected and supported in their interactions with telecommunications service providers.

Importantly, these reforms have received strong support from stakeholders, including the:
- Australian Communication Consumer Action Network;
- Consumer Action Law Centre;
- Telecommunications Industry Ombudsman;
- Australian Communications and Media Authority; and
- Communications Alliance.
This comprehensive support, from consumer groups, regulators and industry alike, demonstrates the importance of these commonsense reforms and is representative of close engagement with these key stakeholders over the past year in particular.

I thank them for their ongoing engagement and support and acknowledge the important work they do.

Noting this level of strong support for these reforms, and the important outcomes they enable for Australian telco consumers, I encourage all representatives in this place to give it their support as well.

I commend the bill to the House.

MIL OSI News –
February 13, 2025
MIL-OSI Australia: Green light for Lake Victoria Wind Farm

Source: New South Wales Premiere

Published: 13 February 2025

Released by: Minister for Lands and Property

The Minns Labor Government and wind farm developer WestWind Energy Pty Ltd have signed a lease agreement to help facilitate a wind farm with up to 201 turbines on Crown land in south-west NSW.

WestWind Energy is aiming to construct the wind farm over a 2-3 year period from 2029 to 2032, subject to planning approvals and community consultation.

The project has an estimated capital expenditure of $3.8 billion and will have an installed capacity of up to about 1,000 megawatts with an annual energy production of approximately 3,400 gigawatt-hours, capable of powering up to 700,000 homes.

The project will also include up to three battery energy storage systems with a total of 1500 megawatt hours storage to provide a more secure and consistent supply of electricity.

The proposed Lake Victoria Wind Farm, could support up to 375 jobs during construction and up to 70 ongoing jobs once completed to maintain the infrastructure and manage ongoing operations of the facility.

Crown Lands has negotiated the agreement for a special purpose lease which would provide WestWind Energy with an initial 25-year lease with two 7-year options to extend the lease a further 14 years.

The lease agreement allows WestWind Energy to progress planning for its proposed Lake Victoria Wind Farm, would be located about 30 kilometres north-west of Wentworth near the Victorian border.

The project is listed on the NSW Planning website to be assessed as a State Significant Development once a development application is lodged.

Minister for Lands and Property Steve Kamper said:

“The Lake Victoria Wind Farm proposal has the potential to deliver major economic investment, well paid regional jobs and more green energy for NSW.

“The Lake Victoria Wind Farm is a significant clean energy initiative that can play a vital role in powering our economy for generations to come.

“The rental income will be reinvested into the Crown Reserves Improvement Fund to provide grants to maintain and improve Crown reserves across the state, such as regional showgrounds, war memorials and community sporting grounds.”

MIL OSI News –

February 13, 2025
MIL-OSI Australia: Parliament passes world-leading scams prevention framework
Source: Australian Ministers 1

The Albanese Government has legislated the world’s toughest anti-scam laws to make Australia the hardest target for scammers.

Australians will be safer online and their money more secure as a result of the new laws.

The laws establish the Scams Prevention Framework, focused on stopping scams from reaching Australians.

The Framework requires designated entities to prevent, detect, disrupt, respond and report scams and attempted scams.

Initially, the Government will designate banks, telcos, and social media companies under the Framework. These businesses will be subject to comprehensive and enforceable sector-specific rules for what they must do to protect Australians.

For example, the rules may include:
- Social media companies being required to verify advertisers on their platforms – a critical step to ridding their pages of fake scam ads
- Banks being required to confirm the identity of payees – so people know exactly where their money is going
- Telecommunications companies being required to detect and disrupt scam numbers sending texts and calls to innocent Australians.
Businesses will have substantial incentive to have ironclad scams defences, with fines of up to $50 million applied on those who fail to meet their obligations.

Victims will have clear pathways to compensation if the business fails to meet robust standards.

The Government has invested over $180 million to fight scams including establishing the National Anti-Scams Centre and funding ASIC to bust fake investment websites that promote scams.

Australians should never have to fight criminal scammers on their own. Labor made fighting scams an issue for government, as well as businesses.

This is landmark legislation that will set Australia up for a stronger and safer future where people’s money is safer online.

Quotes attributable to the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP:

“Our laws give Australia the strongest defences against scammers and put us ahead of the world in scams prevention and protection.

“This is a promise we made ahead of the 2022 election and will make a genuine difference in the lives of every Australian.

“These new laws will keep Australia one step ahead of criminal scammers.”

Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:

“Cracking down on criminals trying to rip off hardworking Australians is a priority for this Government.

“The Scams Prevention Framework will help further strengthen scam defences, and I encourage the telecommunications sector and social media platforms to work with the regulators to develop the enforceable industry codes that will provide Australian consumers the best protection from the scourge of scams.

“We will continue to protect hard-working Australians from increasingly sophisticated and organised scammers.”

MIL OSI News –
February 13, 2025
MIL-OSI Australia: State Memorial for David Polson AM

Source: New South Wales Government 2

Headline: State Memorial for David Polson AM

Published: 13 February 2025

Released by: The Premier

The NSW Government is today announcing that the family of David Polson AM has the accepted the offer of a State Memorial Service.

Mr Polson, who passed away on 10 February 2025, made significant contributions to the LGBTQIA+ community over his lifetime.

His family accepted the NSW Government’s offer of a State Memorial, following his death at Sydney’s St Vincent’s Hospital on Monday, aged 70.

The State Memorial will be held on the morning of Wednesday, 12 March.

As one of the first 400 men diagnosed with HIV/AIDS in Australia in the 1980s at the age of 29, Mr Polson was a long-term survivor, with his commitment to advocacy supported by the 28 HIV drug trials he volunteered for over almost four decades.

In 2021, he was recognised as a Community Champion by the National Association of People Living with HIV, Gilead Sciences and Positive Life NSW for his services to HIV education and awareness.

In 2023, he was awarded Member of the Order of Australia for ‘significant service to community health through HIV education and advocacy’.

He was the Emeritus Founding Chair of Qtopia Sydney, Sydney’s first Queer Museum that opened in Darlinghurst in 2024.

More details on the March 12 State Memorial will be available in the coming weeks at NSW Government State Services.

Premier of New South Wales, Chris Minns said:

“David Polson was a ‘trailblazer’ for bravely continually challenging the HIV stigma.

“His experience and advocacy contributed to life saving medications and significant advancements with a far-reaching international impact for those living with HIV.

“I have been honoured to work with David over a number of years as he continued to advocate for the LGBTQIA+ community including later in his life and know that his legacy will live on in the community for generations.”

Leader of the Government in the Legislative Council, Penny Sharpe said:

“There are people alive today because of the courage and bravery of David Polson.

“It is a fitting tribute that he has a state memorial to acknowledge his work and share the story of LGBTQIA+ activism in NSW and David’s role in it.

“David Polson was a genuine hero of the community whose life profoundly helped others.”

MIL OSI News –

February 13, 2025
MIL-OSI Australia: Meet the City’s Search for a Star winners

Source: Government of Western Australia

Seven talented local singers will take the stage to perform with a live orchestra in front of thousands thanks to the Search for a Star competition.

The seven winners were carefully selected following multiple auditions and will all perform at the City’s blockbuster Symphony Under the Stars event at Kingsway Regional Sporting Complex on 22 February.

The winners range in age as well as musical experience, with each of the local talents being either residents or students within the City.

The unique experience to perform with a 70-piece orchestra will be matched by the impressive crowds, with the event drawing 12,000 people last time it was held at Kingsway.

Sofia Gale
Performing Skyfall by Adele

At just 16 years old, Sofia’s musical experience is impressive, having already performed in front of nearly 12,000 people at RAC Arena.

A student of the Gail Meade Performing Arts Centre in Wangara for over 12 years, Sofia has a mix of singing, songwriting and theatre experience.

“I’ve always been a theatre kid at heart,” she said. “But, around 11 or 12, I found a love for songwriting – not only was it therapeutic, but it was a release for me.”

Sofia has released four singles to date, with one of her tracks winning a West Australian Music song of the year award, with her music drawing comparisons to Birdy and Olivia Rodrigo.

Sofia will now further her career accomplishments by performing alongside a live orchestra for the first time.

“What a phenomenal opportunity it is, to give local performers and local singers the chance to perform with such an orchestra,” she said.

“We’ve already started rehearsals now and even when I’m not rehearsing with them, I’m just listening to them play so beautifully. I feel so honoured to be a part of this.”

Meagen Reyes
Performing I Will Always Love You & I Wanna Dance With Somebody by Whitney Houston

Coming from a family of musicians, Meagen will be living out a dream on behalf of her parents and siblings when she takes the stage.

The youngest of five children, the 28-year-old started her musical career as just two years old, joining her family band.

“All of my siblings were taught how to sing by my mum, my dad knows how to sing as well and plays the guitar,” she said.

“At the age of around two or three I was already singing on stage, not knowing how to read but memorising songs just by listening to them.”

Meagen said she jumped at the opportunity to enter the competition and play with a live orchestra.

“I was chosen as one of the winners and that was such a relief, because I really wanted to sing with the orchestra, as a singer it’s such a different experience,” she said.

“I’ve sung for live bands and with backing tracks, but a live orchestra is so different because it’s a full ensemble. They’re relying on you to sing it correctly.”

Meagen said the competition was a great opportunity to springboard the singing careers of younger artists, but also provided a rare opportunity for more experienced local artists.

“Having an event like Search for a Star Wanneroo is such a good opportunity for talents everywhere in Perth, not just young talents but even people like me being nearly 30,” she said.

“It’s great that I still have the chance to do things like this within the City.”

Krystal Biddulph
Performing Fix You by Coldplay

An experienced dancer, performing since age three, Krystal has put one of her passions to the side after 15 years to pursue a career in singing.

The talented singer has a gained a growing following thanks to nearly three years busking around the Perth CBD which she continues to do.

“I’m very excited about Symphony Under the Stars, obviously, there would have been a lot of amazing applicants,” she said.

Krystal is no stranger to playing in front of a big crowd, having performed at RAC Arena in front of 14,000 during a Wildcats game last year as well as featuring on Australian Idol.

“I’m most excited for singing in front of an orchestra, it’s something that I’ve never done before but something I want to do,” the 18-year-old said.

“Everything sounds better with an orchestra, even rehearsing with them I have the best time, it just makes me even more excited to get on stage and perform in front of people with them.”

Caoimhe Power
Performing Stop by Spice Girls & Shallow by Lady Gaga and Bradley Cooper

Caoimhe’s singing journey started in Scotland at age nine before moving to WA with her family, immediately joining her high school music program.

The Banksia Grove resident said she was stunned when she learned she was one of the winners.

“When I got the email about being one of the winners I was in complete shock, I was so happy, so excited and so grateful, because I knew there were so many amazing competitors,” she said.

“I felt so honoured that I was one of the winners picked to be able to sing and do what I love – it was honestly amazing.”

At the age of just 16, Caoimhe will take the stage along with four other winners in a group performance, as well as a duo with last year’s Search for a Star winner Kade De Luca.

“I’m so excited to be able to perform in front of so many people,” she said.

“It is just so crazy that I was chosen to sing with a 70-piece orchestra.

“It’s amazing that we get to take part in this huge opportunity right at our doorstep and I think it’s great that we get to perform with people similar to our age and with the same love for music.”

Tegan Mumba
Performing Stop by Spice Girls

Tegan has been singing since the age of four and notably performed at the RAC Arena in 2019 for Grease the Musical aged just 10.

The 16-year-old said she is looking forward to recreating the thrill on stage alongside the Joondalup Symphony Orchestra.

“When I found out I was a winner I was so excited, I called my dance teacher right away and told my mum,” the Yanchep local said.

“I’m super excited to perform in front of all these people. Knowing that my singing could make someone’s day makes me even more excited.

“I think the competition is a great opportunity for so many kids to be able to get their names out there. People will have all their eyes on us and I think it’s great for many aspiring teens.”

Jade Alexander
Performing Stop by Spice Girls

Jade is a recent addition to the City, having immigrated from South Africa just a year ago.

With extensive musical experience in her homeland often entering singing competitions, Jade had no hesitation in applying for the City’s Search for a Star.

“In South Africa I entered a lot of singing competitions and then when we moved here, I got the opportunity to do some gigs,” the 16-year-old said.

“My mum found this competition and she saw how big of an opportunity it was to enter, and we grabbed it with both hands.

“I’m so excited and I still can’t believe it. It’s one of my bucket list items to perform with an orchestra, so being able to do it is surreal.

“We’ve done two rehearsals with the orchestra. It’s so cool to be able to hear the instruments live and the whole orchestra really creates an atmosphere.”

Emily Mackenzie
Performing Stop by Spice Girls

Emily is a multi-talented local artist who started her performing arts journey at age eight when she started doing theatre shows.

That path led her to performing in The Boy from Oz at Crown Theatre, with her first theatre appearance happening at age eight.

The 18-year-old Hocking local also plays piano and guitar and said she holds a real appreciation for the talented Joondalup Symphony Orchestra.

“I’m pretty excited to go in front of such a big audience,” she said.

“I think it’s just a really great opportunity to get more experience to do more shows like this in the future.

“I haven’t performed with an orchestra before, but I love live music. The live orchestra feels more alive, rather than just a speaker and to have so many people making the music is a pretty cool thing.”

MIL OSI News –

February 13, 2025

Category: Australia

February 13, 2025

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