deloitte south australian securities exchange index · 2009-01-26 · 3. technology fast 50...

A review of South Australian companies listed on the Australian Securities Exchange

January 2009 Edition 10

Deloitte South Australian Securities Exchange Index

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South Australian listed companies marginally outperformed the S&P/ASX 200 benchmark for the three months to 31 December 2008, despite both indices experiencing significant deterioration. The South Australian market, as measured by the Deloitte SA Index, reflects a reduction in the share prices of approximately 80% of the companies constituting the Deloitte SA Index. Nine companies provided positive contributions to the Deloitte SA Index, in particular, Beach Petroleum Limited, Safety Medical Products Limited and the Agricultural Land Trust.

Quarterly movements The Deloitte SA Index decreased by 22.8% during the three month period to 31 December 2008, compared to the S&P/ASX 200, which decreased by 25.3% over the same three month period. The largest positive contributions to the index came from Beach Petroleum Limited, Safety Medical Products Limited and the Agricultural Land Trust.

Six month movementsThe Deloitte SA Index decreased by 41.2% during the six month period to 31 December 2008, compared to the S&P/ASX 200, which decreased by 28.6% over the same six month period.

Twelve month movementsThe Deloitte SA Index decreased by 33.4% over the twelve month period to 31 December 2008, compared to the S&P/ASX 200, which decreased by 41.3% over the same twelve month period.

The Deloitte SA Index is compiled from publicly available information provided by the Australian Securities Exchange Limited (ASX). The Deloitte SA Index is based on the market capitalisation weighted share price performance of each South Australian listed company. The impact of dividends and capital returns is excluded from the Deloitte SA Index. There are 69 companies currently included in the Deloitte SA Index.

Despite a substantial decrease in the Deloitte SA Index, it outperformed the S&P/ASX 200 for the twelve months to 31 December 2008, decreasing by 33.4% compared to the S&P/ASX 200’s 41.3% decrease. The Deloitte SA Index fell during the six month and three month periods to 31 December 2008, decreasing by 41.3% and 22.8%, respectively.

The three months to 31 December 2008 has resulted in the Deloitte SA Index falling by more than 20%, the first time the Deloitte SA Index has experienced two quarters of consecutive deterioration. Thanks to a positive 12 month contribution by Santos Limited, one of only two constituent companies to record a share price increase between 31 December 2007 and 31 December 2008, the Deloitte SA Index has continued to outperform the broader Australian share market, as measured by the S&P/ASX 200 index.

IncreasesDespite the reduction in the Deloitte SA Index in the three months to 31 December 2008, a number of companies enjoyed market capitalisation weighted increases in their share price over this three month period, namely – Beach Petroleum Limited (Beach Petroleum), Safety Medical Products Limited (Safety Medical Products) and the Agricultural Land Trust.

Beach Petroleum’s share price achieved positive gains against the current market trend, increasing by 6.1% for the three months to 31 December 2008. The company’s share price has reflected announced strong revenue results due to Beach Petroleum’s ability to realise relatively high oil prices despite falling energy prices globally. In addition, Beach Petroleum advised that more than half of its forecast oil production in the second half of the financial year 2009 is underpinned at a minimum of US$60 a barrel.

Safety Medical Products experienced the largest share price increase of South Australian companies, rising by 144.2% for the three months to 31 December 2008. The share price increase reflected positive market sentiment following announcements by the company in relation to a 50% ownership interest in a health care company expected to launch a new product range into the Australian and New Zealand health care markets in early 2009. Agricultural Land Trust enjoyed the second highest share price increase of 33.3% for the three months to 31 December 2008, albeit with very limited share trading. While no single announcement has provided significant movement in the Trust’s share price, the market appears to have reacted favourably to the trust’s recent announcements regarding the future direction of the trust via the sale of its tourism and hospitality properties to focus on its agricultural assets.

On an absolute share price performance basis, the companies that recorded the largest percentage share price increases for the three months to 31 December 2008 were Safety Medical Products Limited, which increased by 144.2%, Agricultural Land Trust, which increased by 33.3% and Papyrus Limited, which increased by 18.2%.

DecreasesThe most significant negative contributions to the Deloitte SA Index for the three month period ended 31 December 2008 came from Santos Limited, Argo Investments Limited and Adelaide Brighton Limited.

On an absolute share price performance basis, the companies that recorded the largest percentage share price decreases for the three months to 31 December 2008 were Ferraus Limited, down 72.1%, Mesbon China Nylon Limited, down 70.4% and Sundance Energy Limited, down 69.5%.

Executive summary

South Australian Securities Exchange Index January 2009 Edition 10 1

Welcome to the Deloitte South Australian Securities Exchange Quarterly Index December 2008.

No new initial public offeringsThere were no newly registered South Australian companies, which listed on the ASX during the three months to 31 December 2008. Two companies, Sapex Limited and Newport Mining Limited, were removed from the Deloitte SA Index following a successful merger with Link Energy Limited and a change in location of registered office, respectively.

David Hill PartnerTel: +61 (0) 8 8407 7181e-mail: [email protected]

Stephen Adams Associate DirectorTel: +61 (0) 8 8407 7025e-mail: [email protected]

Adelaide Office Tel: +61 (0) 8 8407 7000Fax: +61 (0) 8 8407 7003www.deloitte.com.au

Company Performance

Beach Petroleum Limited 0.33%Safety Medical Products Limited 0.06%Agricultural Land Trust 0.04%Papyrus Limited 0.03%Island Sky Australia Limited 0.03%Brand New Vintage Limited 0.01%

Table 1: Biggest positive contribution to the Deloitte SA Index in the December quarter 2008

Company Performance

Santos Limited (10.40%)Argo Investments Limited (3.58%)Adelaide Brighton Limited (2.01%)Futuris Corporation Limited (1.55%)Envestra Limited (1.13%)Hills Industries Limited (0.86%)ABB Grain Limited (0.25%)K & S Corporation Limited (0.25%)

Table 2: Biggest negative contribution to the Deloitte SA Index in the December quarter 2008

Company Performance

Safety Medical Products Limited 144.19%Agricultural Land Trust 33.33%Papyrus Limited 18.18%Island Sky Australia Limited 13.33%Brand New Vintage Limited 12.50%Adelaide Resources Limited 9.80%Beach Petroleum Limited 6.08%Prophecy International Holdings Limited 1.35%

Table 3: Biggest share price increases of December quarter 2008

Company Performance

Ferraus Limited (72.13%)Mesbon China Nylon Limited (70.37%)Sundance Energy Australia Limited (69.47%)Monax Mining Limited (68.42%)Austin Exploration Limited (68.39%)Stuart Petroleum Limited (67.54%)Arasor International Limited (67.00%)Terramin Australia Limited (66.54%)

Table 4: Biggest share price decreases of December quarter 2008

2

Publications

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Deloitte South Australian Securities Exchange IndexA review of South Australian companies listed on the Australian Securities Exchange

September 2008 Edition

9th Edition

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Outshine the others Technology Fast 50 Australia 2008

Technology Fast 50 Australia 2008

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Market wrap – 31 December 2008

Nano Cap Under $50 million

Micro Cap $50 million to $300 million

Small Cap $300 million to $2 billion

Mid Cap $2 billion to $10 billion

Large Cap $10 billion to $200 billion

Mega Cap Market capitalisation of $200 billion and greater

Companies listed in the Deloitte SA Index have been divided into categories listed in the table below for the purposes of the quarterly market wrap.

Increases December ranking

September ranking

Company name Mkt cap Dec 2008

% change share price

% change market

capitalisation

Small Cap 5 6 Beach Petroleum Limited 993 6.1% 6.4%

Nano Cap 49 69 Safety Medical Products Limited 8 144.2% 144.2%

31 40 Agricultural Land Trust 24 33.3% 36.8%

24 32 Papyrus Limited 35 18.2% 18.5%

23 28 Island Sky Australia Limited 43 13.3% 13.3%

47 55 Brand New Vintage Limited 9 12.5% 12.5%

Decreases December ranking

September ranking

Company name Mkt cap Dec 2008

% change share price

% change market

capitalisation

Mid Cap 1 1 Santos Limited 8,696 (22.1%) (23.5%)

2 2 Argo Investments Limited 3,086 (21.5%) (20.8%)

Small Cap 7 5 Futuris Corporation Limited 528 (54.3%) (52.0%)

8 8 Envestra Limited 474 (44.3%) (18.8%)

4 3 Adelaide Brighton Limited 1,160 (32.0%) (31.0%)

6 7 Hills Industries Limited 588 (27.2%) (26.2%)

3 4 ABB Grain Limited 1,307 (3.5%) (3.5%)

Micro Cap 19 14 Toro Energy Limited 55 (51.7%) (45.7%)

18 16 Flinders Mines Limited 56 (47.7%) (43.5%)

16 15 Clean Seas Tuna Limited 60 (40.6%) (39.5%)

20 18 Australian Vintage Limited 54 (40.1%) (40.1%)

13 13 Codan Limited 79 (30.7%) (30.7%)

Nano Cap 30 17 Ferraus Limited 26 (72.1%) (72.1%)

55 43 Mesbon China Nylon Limited 5 (70.4%) (69.1%)

38 27 Sundance Energy Australia Limited 15 (69.5%) (69.5%)

67 59 Monax Mining Limited 2 (68.4%) (68.4%)

52 38 Austin Exploration Limited 6 (68.4%) (67.1%)

Table 5 – Major increases and decreases in each category

Source: Deloitte analysis, ASX, Bloomberg

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$m

Market Capitalisation of Deloitte SA Index as at 30 Sep 2008 24,294 Major increases Beach Petroleum Limited 60

( Δ > + $20 million)Major decreases Santos Limited (2,676)( Δ < – $40 million) Argo Investments Limited (809)

Futuris Corporation Limited (572)Adelaide Brighton Limited (521)Hills Industries Limited (208)Envestra Limited (110)Terramin Australia Limited (97)Ferraus Limited (67)K & S Corporation Limited (61)Stuart Petroleum Limited (57)ABB Grain Limited (48)Toro Energy Limited (46)Flinders Mines Limited (43)

Other movements (net) (513)Total increase/(decrease) (5,769)Market Capitalisation of Deloitte SA Index as at 31 December 2008 18,525

Table 6 – Movement in market capitalisation for three months to 31 December 2008

Source: Deloitte analysis, ASX

Industry Number of companies

Dec 2008 $ million

Sep 2008$ million

$ Mvt Quarter

$ million

% of index

% change last

quarter

% change 6 months

% change 12 months

Automobile & Components – – – – 0.0% 0.0% 0.0% 0.0%Banks – – – – 0.0% 0.0% 0.0% 0.0%Capital Goods 5 714 934 (220) 3.9% (23.5%) (2.5%) (37.6%)Consumer Durables & Apparel 2 20 35 (15) 0.1% (43.1%) (47.6%) (77.9%)Diversified Financials 3 3,293 4,127 (833) 17.8% (20.2%) (22.7%) (32.8%)Energy 12 9,870 12,721 (2,851) 53.3% (22.4%) (32.6%) (3.9%)Food & Staples Retailing 1 1,307 1,355 (48) 7.1% (3.5%) (7.7%) 3.0%Food Beverage & Tobacco 4 652 1,299 (647) 3.5% (49.8%) (45.5%) (70.1%)Health Care Equipment & Services 4 40 45 (5) 0.2% (11.2%) (29.2%) (56.9%)Materials 26 1,714 2,606 (892) 9.3% (34.2%) (53.2%) (56.1%)Pharmaceuticals, Biotechnology & Life Sciences

2 57 88 (31) 0.3% (35.0%) (46.6%) (79.7%)

Real Estate 2 29 23 7 0.2% 28.4% (3.0%) 100.0%Retailing 1 61 83 (23) 0.3% (27.2%) (29.8%) (51.6%)Semiconductors & Semiconductor Equipment

1 17 17 (0) 0.1% (1.2%) 17.5% (68.2%)

Software & Services 2 20 21 (1) 0.1% (4.5%) (8.9%) (81.9%)Technology Hardware & Equipment 2 87 126 (39) 0.5% (31.0%) (18.5%) (42.5%)Transportation 1 169 230 (61) 0.9% (26.7%) (18.6%) (27.8%)Utilities 1 474 584 (110) 2.6% (18.8%) (16.9%) (42.8%) Total 69 18,525 24,294 (5,769) 100.0% (23.7%) (31.8%) (27.8%)

Table 7 – Industry market capitalisation as at 31 December 2008



South Australia’s best and worst absolute share price performance

Archer Exploration Limited

Ramelius Resources Limited

Australasia Gold Limited

Centrex Metals Limited

Phoenix Copper Limited

Curnamona Energy Limited

Geothermal Resources Limited

Arasor International Limited

120.0% 140.0% 160.0%100.0%80.0%60.0%40.0%20.0%0.0%

Figure 1 – Performance for the month of December 2008, top eight gainers

Prophecy International Holdings Limited

Beach Petroleum Limited

Adelaide Resources Limited

Brand New Vintage Limited

Island Sky Australia Limited

Papyrus Limited

Agricultural Land Trust

Safety Medical Products Limited

120.0% 140.0% 160.0%100.0%80.0%60.0%40.0%20.0%0.0%

Figure 2 – Quarterly performance to 31 December 2008, top eight gainers

Santos Limited

Island Sky Australia Limited

120.0% 140.0% 160.0% 180.0% 200.0%100.0%80.0%60.0%40.0%20.0%0.0%

Figure 3 – Yearly performance to 31 December 2008, top gainers


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Figure 4 – Performance for the month of December 2008, bottom eight losers

Monax Mining Limited

Ellex Medical Lasers Limited

Eromanga Limited

Austin Exploration Limited

Mesbon China Nylon Limited

Sundance Energy Australia Limited

MGM Wireless Limited

Envestra Limited

0.0%(45.0%) (40.0%) (35.0%) (30.0%) (25.0%) (20.0%) (15.0%) (10.0%) (5.0%)

Figure 5 – Quarterly performance to 31 December 2008, bottom eight losers

Ferraus Limited


Sundance Energy Australia Limited


Austin Exploration Limited

Stuart Petroleum Limited


Terramin Australia Limited

(63.0%)(71.0%)(72.0%)(73.0%) (70.0%) (69.0%) (68.0%) (67.0%) (66.0%) (65.0%) (64.0%)

Figure 6 – Yearly performance to 31 December 2008, bottom eight losers




Ellex Medical Lasers Limited

Chesser Resources Limited

Terramin Australia Limited

Ferraus Limited

UraniumSA Limited

0.0%(80.0%)(90.0%)(100.0%) (70.0%) (60.0%) (50.0%) (40.0%) (30.0%) (20.0%) (10.0%)


Comparison of the Deloitte SA Index and the S&P/ASX 200 Index

During the three months to 31 December 2008, the Deloitte SA Index of South Australian listed companies decreased by 22.8% while the total capitalisation of South Australian listed companies decreased by $5.8 billion to $18.5 billion, a decrease of 23.7%.

This decrease represents the second consecutive quarterly fall in the Deloitte SA greater than 20%. The largest positive contribution to the Deloitte SA Index for the three month period ended 31 December 2008 came from Beach Petroleum at 0.33%, Safety Medical Products at 0.06% and the Agricultural Land Trust at 0.04%. The largest negative contribution to the Deloitte SA Index for the three month period came from Santos Limited (10.40%), Argo Investments Limited (3.58%) and Adelaide Brighton Limited (2.01%).

The S&P/ASX 200 decreased by 25.3% for the three months to 31 December 2008.

For the six month period to 31 December 2008, the Deloitte SA Index underperformed the S&P/ASX 200, recording a decrease of 41.2% compared with a decrease of 28.6% for the S&P/ASX 200.

For the twelve month period to 31 December 2008, despite substantial deterioration, the Deloitte SA Index outperformed the S&P/ASX 200, recording a decrease of 33.4% compared with a decrease of 41.3% for the S&P/ASX 200.

Index name Last 12 months

Last six months

Last months

Two months

Three months

Four months

Five months

Deloitte SA Index (33.4%) (41.2%) 1.0% (0.3%) (22.8%) (32.6%) (31.6%)S&P/ASX 200 (41.3%) (28.6%) (0.5%) (7.0%) (25.3%) (27.5%) (25.2%)


Table 8 – Percentage change in major indices


Figure 7 – Deloitte SA Index versus S&P/ASX 200

0.800

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1.200

1.400

1.600

1.800

2.000

Deloitte SA Index S&P/ASX 200

Jun

– 05

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– 0

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– 0

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– 0

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– 0

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– 07

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8

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Companies included in the Deloitte SA Index as at 31 December 2008

Table 9 – Constituents of the Deloitte SA Index ranked by three month share price performance

This month

Company Share price 31 Dec 2008 ($)

Share price 30 Sep 2008 ($)

Change (%)

High $ price (year)

Low $ price (year)

1 SFP Safety Medical Products Limited 0.11 0.04 144.2% 0.29 0.03

2 AGJ Agricultural Land Trust 0.28 0.21 33.3% 0.33 0.19

3 PPY Papyrus Limited 0.52 0.44 18.2% 0.74 0.31

4 ISK Island Sky Australia Limited 0.34 0.30 13.3% 0.42 0.15

5 BNV Brand New Vintage Limited 0.05 0.04 12.5% 0.08 0.01

6 ADN Adelaide Resources Limited 0.06 0.05 9.8% 0.22 0.03

7 BPT Beach Petroleum Limited 0.96 0.91 6.1% 1.70 0.71

8 PRO Prophecy International Holdings Limited 0.38 0.37 1.4% 0.45 0.18

9 CNR Coonawarra Australia Property Trust 0.30 0.30 0.0% 0.65 0.30

10 CUY Curnamona Energy Limited 0.30 0.30 0.0% 0.98 0.14

11 AYX Austofix Group Limited 0.85 0.85 0.0% 1.50 0.85

12 SHR John Shearer (Holdings) Limited 2.40 2.40 0.0% 3.20 2.25

13 IGX IDGX Holdings Ltd 0.39 0.39 0.0% 0.39 0.25

14 LGD Legend Corporation Limited 0.08 0.08 (1.3%) 0.38 0.07

15 ABB ABB Grain Limited 7.63 7.91 (3.5%) 11.18 6.34

16 GHT Geothermal Resources Limited 0.52 0.55 (5.5%) 1.05 0.22

17 KOV Korvest Limited 3.75 4.15 (9.6%) 6.00 3.62

18 PNX Phoenix Copper Limited 0.09 0.10 (10.0%) 0.20 0.04

19 RMS Ramelius Resources Limited 0.63 0.72 (11.9%) 1.38 0.38

20 CXM Centrex Metals Limited 0.22 0.26 (15.4%) 0.64 0.12

21 AYT Adelaide Managed Funds Asset Backed Yield Trust

1.21 1.45 (16.6%) 1.72 1.20

22 MEP Minotaur Exploration Ltd 0.18 0.22 (18.2%) 0.64 0.12

23 LBT Labtech Systems Ltd 0.13 0.16 (19.4%) 0.25 0.11

24 PSH Penrice Soda Holdings Limited 1.20 1.53 (21.3%) 1.80 1.00

25 ARG Argo Investments Limited 5.34 6.80 (21.5%) 8.20 4.66

26 STO Santos Limited 14.87 19.10 (22.1%) 22.34 10.10

27 PTR Petratherm Limited 0.35 0.45 (22.2%) 1.10 0.29

28 ADE Adelaide Energy Limited 0.06 0.07 (23.6%) 0.17 0.04

29 HIL Hills Industries Limited 3.10 4.26 (27.2%) 5.56 2.80

30 KSC K & S Corporation Limited 2.42 3.33 (27.3%) 3.44 2.20

31 ADG Adtrans Group Limited 2.45 3.39 (27.7%) 5.19 2.02

32 TWT TWT Group Limited 0.25 0.34 (27.9%) 0.41 0.20

33 MWR MGM Wireless Limited 0.02 0.02 (29.2%) 0.13 0.01

34 BNO Bionomics Limited 0.23 0.32 (29.7%) 0.44 0.18

35 CDA Codan Limited 0.49 0.70 (30.7%) 0.94 0.47

36 ABC Adelaide Brighton Limited 2.10 3.09 (32.0%) 3.92 1.76


This month

Company Share price 31 Dec 2008 ($)

Share price 30 Sep 2008 ($)

Change (%)

High $ price (year)

Low $ price (year)

37 SCD Scantech Limited 0.46 0.70 (34.3%) 0.79 0.45

38 MTH Mithril Resources Limited 0.09 0.14 (35.7%) 0.42 0.09

39 MEU Marmota Energy Limited 0.04 0.06 (36.7%) 0.14 0.04

40 ERO Eromanga Uranium Limited 0.03 0.05 (37.8%) 0.20 0.03

41 EAL E & A Limited 0.37 0.61 (39.7%) 1.55 0.30

42 MXR Maximus Resources Limited 0.06 0.10 (40.0%) 0.29 0.04

43 AVG Australian Vintage Limited 0.43 0.71 (40.1%) 2.31 0.36

44 CSS Clean Seas Tuna Limited 0.38 0.64 (40.6%) 2.20 0.29

45 STZ Strzelecki Metals Limited 0.11 0.18 (41.7%) 0.30 0.10

46 SNU Southern Uranium Limited 0.05 0.08 (43.8%) 0.21 0.03

47 ENV Envestra Limited 0.37 0.66 (44.3%) 0.97 0.29

48 FMS Flinders Mines Limited 0.05 0.09 (47.7%) 0.26 0.03

49 USA UraniumSA Limited 0.03 0.06 (49.2%) 0.27 0.02

50 HAV Havilah Resources NL 0.32 0.63 (50.0%) 1.92 0.25

51 SAU Southern Gold Limited 0.06 0.12 (50.0%) 0.41 0.04

52 TOE Toro Energy Limited 0.10 0.21 (51.7%) 0.46 0.09

53 LML Lincoln Minerals Limited 0.10 0.21 (52.4%) 0.31 0.09

54 FCL Futuris Corporation Limited 0.65 1.41 (54.3%) 2.39 0.56

55 AAO Australasia Gold Limited 0.03 0.06 (56.1%) 0.14 0.02

56 AXE Archer Exploration Limited 0.05 0.12 (56.5%) 0.20 0.04

57 AZC Australian Zircon NL 0.04 0.09 (57.8%) 0.22 0.03

58 ELX Ellex Medical Lasers Limited 0.10 0.25 (60.0%) 0.82 0.08

59 MTN Marathon Resources Limited 0.38 0.96 (60.4%) 2.27 0.19

60 CHZ Chesser Resources Limited 0.06 0.16 (62.5%) 0.52 0.06

61 WDR Western Desert Resources Limited 0.06 0.17 (63.5%) 0.25 0.04

62 TZN Terramin Australia Limited 0.45 1.35 (66.5%) 4.01 0.37

63 ARR Arasor International Limited 0.03 0.10 (67.0%) 1.70 0.01

64 STU Stuart Petroleum Limited 0.44 1.34 (67.5%) 1.55 0.40

65 AKK Austin Exploration Limited 0.05 0.16 (68.4%) 0.49 0.05

66 MOX Monax Mining Limited 0.03 0.10 (68.4%) 0.40 0.03

67 SEA Sundance Energy Australia Limited 0.09 0.29 (69.5%) 0.54 0.08

68 MES Mesbon China Nylon Limited 0.04 0.14 (70.4%) 0.55 0.04

69 FRS Ferraus Limited 0.17 0.61 (72.1%) 2.02 0.11

Table 9 – Constituents of the Deloitte SA Index ranked by three month share price performance (cont.)


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Table 10 – Constituents of the Deloitte SA Index ranked by market capitalisation at 31 December 2008

This quarter

Last quarter

Company Mkt cap 31 Dec

2008 ($ million)

Mkt cap 30 Sep

2008 ($ million)

Change ($ million)

Change (%)

Last $ price

(quarter)

High $ price (year)

Low $ price (year)

1 1 STO Santos Limited 8,696 11,372 (2,676) (23.5%) 14.87 22.34 10.10

2 2 ARG Argo Investments Limited 3,086 3,895 (809) (20.8%) 5.34 8.20 4.66

3 4 ABB ABB Grain Limited 1,307 1,355 (48) (3.5%) 7.63 11.18 6.34

4 3 ABC Adelaide Brighton Limited 1,160 1,681 (521) (31.0%) 2.10 3.92 1.76

5 6 BPT Beach Petroleum Limited 993 933 60 6.4% 0.96 1.70 0.71

6 7 HIL Hills Industries Limited 588 796 (208) (26.2%) 3.10 5.56 2.80

7 5 FCL Futuris Corporation Limited 528 1,100 (572) (52.0%) 0.65 2.39 0.56

8 8 ENV Envestra Limited 474 584 (110) (18.8%) 0.37 0.97 0.29

9 9 KSC K & S Corporation Limited 169 230 (61) (26.7%) 2.42 3.44 2.20

10 11 AYT Adelaide Managed Funds Asset Backed Yield Trust

121 144 (24) (16.6%) 1.21 1.72 1.20

11 12 RMS Ramelius Resources Limited 117 133 (16) (11.9%) 0.63 1.38 0.38

12 19 IGX IDGX Holdings Ltd 87 87 – 0.0% 0.39 0.39 0.25

13 13 CDA Codan Limited 79 113 (35) (30.7%) 0.49 0.94 0.47

14 23 PSH Penrice Soda Holdings Limited 64 69 (5) (7.8%) 1.20 1.80 1.00

15 21 ADG Adtrans Group Limited 61 83 (23) (27.2%) 2.45 5.19 2.02

16 15 CSS Clean Seas Tuna Limited 60 100 (39) (39.5%) 0.38 2.20 0.29

17 24 CXM Centrex Metals Limited 58 68 (10) (15.4%) 0.22 0.64 0.12

18 16 FMS Flinders Mines Limited 56 98 (43) (43.5%) 0.05 0.26 0.03

19 14 TOE Toro Energy Limited 55 101 (46) (45.7%) 0.10 0.46 0.09

20 18 AVG Australian Vintage Limited 54 91 (36) (40.1%) 0.43 2.31 0.36

21 22 BNO Bionomics Limited 53 75 (22) (29.6%) 0.23 0.44 0.18

22 10 TZN Terramin Australia Limited 50 147 (97) (66.1%) 0.45 4.01 0.37

23 28 ISK Island Sky Australia Limited 43 38 5 13.3% 0.34 0.42 0.15

24 32 PPY Papyrus Limited 35 30 6 18.5% 0.52 0.74 0.31

25 29 KOV Korvest Limited 32 36 (3) (9.5%) 3.75 6.00 3.62

26 33 SHR John Shearer (Holdings) Limited 30 30 0 0.0% 2.40 3.20 2.25

27 25 MTN Marathon Resources Limited 29 58 (29) (50.4%) 0.38 2.27 0.19

28 20 STU Stuart Petroleum Limited 27 85 (57) (67.5%) 0.44 1.55 0.40

29 26 HAV Havilah Resources NL 26 50 (25) (48.7%) 0.32 1.92 0.25

30 17 FRS Ferraus Limited 26 92 (67) (72.1%) 0.17 2.02 0.11

31 40 AGJ Agricultural Land Trust 24 18 7 36.8% 0.28 0.33 0.19

32 31 EAL E & A Limited 22 35 (13) (37.1%) 0.37 1.55 0.30

33 34 PTR Petratherm Limited 20 26 (6) (22.2%) 0.35 1.10 0.29

34 36 CUY Curnamona Energy Limited 20 20 – 0.0% 0.30 0.98 0.14

35 39 GHT Geothermal Resources Limited 17 18 (1) (5.3%) 0.52 1.05 0.22


Table 10 – Constituents of the Deloitte SA Index ranked by market capitalisation at 31 December 2008 (cont.)

This quarter

Last quarter

Company Mkt cap 31 Dec

2008 ($ million)

Mkt cap 30 Sep

2008 ($ million)

Change ($ million)

Change (%)

Last $ price

(quarter)

High $ price (year)

Low $ price (year)

36 45 PRO Prophecy International Holdings Limited

17 17 0 2.6% 0.38 0.45 0.18

37 42 LGD Legend Corporation Limited 17 17 (0) (1.2%) 0.08 0.38 0.07

38 27 SEA Sundance Energy Australia Limited 15 49 (34) (69.5%) 0.09 0.54 0.08

39 30 AZC Australian Zircon NL 15 35 (20) (57.8%) 0.04 0.22 0.03

40 41 TWT TWT Group Limited 14 18 (3) (17.7%) 0.25 0.41 0.20

41 35 STZ Strzelecki Metals Limited 14 25 (10) (41.7%) 0.11 0.30 0.10

42 46 LBT Labtech Systems Ltd 12 15 (3) (19.4%) 0.13 0.25 0.11

43 48 MEP Minotaur Exploration Ltd 12 14 (3) (18.2%) 0.18 0.64 0.12

44 44 ELX Ellex Medical Lasers Limited 10 17 (7) (40.0%) 0.10 0.82 0.08

45 47 MXR Maximus Resources Limited 10 15 (5) (33.8%) 0.06 0.29 0.04

46 53 AYX Austofix Group Limited 10 10 – 0.0% 0.85 1.50 0.85

47 55 BNV Brand New Vintage Limited 9 8 1 12.5% 0.05 0.08 0.01

48 51 SCD Scantech Limited 8 12 (4) (34.1%) 0.46 0.79 0.45

49 69 SFP Safety Medical Products Limited 8 3 5 144.2% 0.11 0.29 0.03

50 37 LML Lincoln Minerals Limited 8 20 (12) (61.9%) 0.10 0.31 0.09

51 52 SAU Southern Gold Limited 7 11 (4) (33.2%) 0.06 0.41 0.04

52 38 AKK Austin Exploration Limited 6 19 (12) (67.1%) 0.05 0.49 0.05

53 58 ADE Adelaide Energy Limited 6 7 (1) (19.4%) 0.06 0.17 0.04

54 49 WDR Western Desert Resources Limited 6 14 (8) (59.2%) 0.06 0.25 0.04

55 43 MES Mesbon China Nylon Limited 5 17 (12) (69.1%) 0.04 0.55 0.04

56 64 CNR Coonawarra Australia Property Trust 5 5 – 0.0% 0.30 0.65 0.30

57 54 SNU Southern Uranium Limited 5 9 (4) (43.8%) 0.05 0.21 0.03

58 63 PNX Phoenix Copper Limited 5 5 (1) (10.0%) 0.09 0.20 0.20

59 66 ADN Adelaide Resources Limited 5 4 0 9.8% 0.06 0.22 0.03

60 57 MEU Marmota Energy Limited 5 7 (3) (36.7%) 0.04 0.14 0.04

61 60 MTH Mithril Resources Limited 4 7 (2) (35.7%) 0.09 0.42 0.09

62 50 ARR Arasor International Limited 4 13 (9) (66.7%) 0.03 1.70 0.01

63 62 ERO Eromanga Uranium Limited 4 6 (2) (37.8%) 0.03 0.20 0.03

64 65 MWR MGM Wireless Limited 3 5 (1) (29.2%) 0.02 0.13 0.01

65 56 AXE Archer Exploration Limited 3 7 (4) (56.5%) 0.05 0.20 0.04

66 61 CHZ Chesser Resources Limited 3 7 (4) (61.4%) 0.06 0.52 0.06

67 59 MOX Monax Mining Limited 2 7 (5) (68.4%) 0.03 0.40 0.03

68 68 USA UraniumSA Limited 2 4 (2) (49.2%) 0.03 0.27 0.02

69 67 AAO Australasia Gold Limited 1 4 (3) (67.5%) 0.03 0.14 0.02


12

Compilation of the Deloitte SA Index The quarterly Deloitte SA Index is compiled from publicly available information provided by the ASX on the share prices and market capitalisation of each South Australian listed company.

A company is included on the Deloitte SA Index if its registered office is in South Australia. Dual listed companies have been removed from the Deloitte SA Index. The information on South Australian listed companies is extracted to provide a market capitalisation weighted share price index for all South Australian companies broadly inline with the methodology adopted for the compilation of the S&P/ASX 200 Index. The impact of dividends and capital returns have been excluded from the Deloitte SA Index.

The base period of the Deloitte SA Index is 30 June 2005 and for the purposes of the Deloitte SA Index this month is given a notional value of one. Please note, if a company has been suspended or delisted during a particular period no data will be included for that month and all subsequent months until the company is relisted or the suspension lifted. Historical information regarding the company will continue to be included in the calculation of the Deloitte SA Index.

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