Takeover portfolio update – Qube and Aurizon added

Financial Journalist
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Key points

  • Cashed-up multinationals will increasingly acquire smaller country-based logistics companies and bolt them on to global transport infrastructure.
  • Qube has excellent medium-term growth prospects through its investment in the Moorebank intermodal transport project in Sydney.
  • The falling Australian dollar, potential for Australian wine exports into Asia, and signs of improving industry conditions for viticulture should eventually encourage another predator to knock on Treasury Wine Estate’s door.

Much has been made of the coming boom in Asian middle-class consumption and its effect on food demand. Less considered is the transportation of food across diverse Asian markets and the massive investment needed in supply-chain integration.

The OECD predicts a global middle class of 4.9 billion by 2030, from 1.8 billion in 2009. Two-thirds of the new middle class will be Asian and their diets will change dramatically as more protein is incorporated. Stronger global transport networks will be needed to facilitate trade and help feed another 3 billion middle-class consumers within 15 years.

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