ASX200 & Market Domination

continuing from http://citizenloz.blogspot.com.au/2012/06/australasian-banking-four-banks.html

Sharemarket Basics

The “Australian Securities Exchange” or ASX lists the top trading firms in Australia.  

The index is essentially an assessment of how much combined wealth exists in the top 200 firms and this is combined with the list of available shares for each firm to come up with measurement to represent the market.  The main index used in Australia is Standard and Poor's ASX200.

Note: The estimate of how much a firm is worth in total is referred to as Market Capitalisation and is always abbreviated to "Market Cap".

Australian Market Domination

In the previous document, three banks were shown to hold control over a considerable number of large Australian corporations.

	Name of Shareholder
	HSBC Custody Nominees (Australia)
	J P Morgan Nominees (Australia)
	National Nominees *
	Citicorp Nominees Pty

·         National Nominees Ltd is a wholly owned subsidiary of National Australia Bank.  NAB itself has J.P. Morgan, Citigroup and HSBC as its primary shareholders.

The table below lists the entire ASX200. 

Corporate boards are elected annually.  Holders of 30% or more of company shares are normally able to determine who the board members for each firm will be.  The table below shows (in gold) the corporations that the bank nominees hold more than 30% control.

Be careful to observe that banking nominees may control shareholding but are not the benefactors (or ultimate owners).  The list below is an indication of centralised power, not ownership. 

Market Cap ($M)	Company name	Bank Holding %	Bank Holding ($m)
826	ABACUS PROPERTY GROUP	26.0%	$                 215
734	ACRUX LIMITED	35.2%	$                 258
1,906	ADELAIDE BRIGHTON LIMITED	41.4%	$                 790
7,596	AGL ENERGY LIMITED	38.1%	$             2,893
603	ALACER GOLD CORP.	0.0%	$                      -
2,269	ALUMINA LIMITED	74.1%	$             1,682
9,123	AMCOR LIMITED	64.1%	$             5,844
11,059	AMP LIMITED	49.5%	$             5,471
1,774	ANSELL LIMITED	63.2%	$             1,121
3,326	APA GROUP	15.9%	$                 527
474	APN NEWS & MEDIA LIMITED	44.6%	$                 211
461	AQUARIUS PLATINUM LIMITED	28.2%	$                 130
1,244	AQUILA RESOURCES LIMITED	25.9%	$                 322
424	ARDENT LEISURE GROUP	49.8%	$                 211
1,629	ARISTOCRAT LEISURE LIMITED	59.5%	$                 969
4,253	ASCIANO LIMITED	76.1%	$             3,237
5,160	ASX LIMITED	48.0%	$             2,475
1,845	ATLAS IRON LIMITED	48.8%	$                 900
1,354	AURORA OIL & GAS LIMITED	39.3%	$                 532
989	AUSDRILL LIMITED	43.8%	$                 434
1,454	AUSTRALAND PROPERTY GROUP	25.8%	$                 375
57,801	AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED	50.1%	$           28,970
1,459	AUSTRALIAN INFRASTRUCTURE FUND	38.5%	$                 562
798	AWE LIMITED	43.8%	$                 350
2,060	BANK OF QUEENSLAND LIMITED	40.3%	$                 830
299	BATHURST RESOURCES LIMITED	15.8%	$                   47
1,312	BEACH ENERGY LIMITED	53.3%	$                 699
451	BEADELL RESOURCES LIMITED	58.9%	$                 266
2,852	BENDIGO AND ADELAIDE BANK LIMITED	33.4%	$                 953
102,517	BHP BILLITON LIMITED	52.1%	$           53,452
487	BILLABONG INTERNATIONAL LIMITED	61.9%	$                 302
938	BLUESCOPE STEEL LIMITED	52.6%	$                 494
1,402	BOART LONGYEAR LIMITED	70.5%	$                 988
2,526	BORAL LIMITED.	57.6%	$             1,455
953	BRADKEN LIMITED	55.2%	$                 526
9,241	BRAMBLES LIMITED	76.7%	$             7,087
993	BWP TRUST	30.4%	$                 302
632	CABCHARGE AUSTRALIA LIMITED	33.9%	$                 214
3,713	CALTEX AUSTRALIA LIMITED	32.2%	$             1,197
3,557	CAMPBELL BROTHERS LIMITED	29.3%	$             1,042
1,367	CARSALES.COM LIMITED	56.6%	$                 774
2,675	CENTRO RETAIL AUSTRALIA	39.4%	$             1,054
5,372	CFS RETAIL PROPERTY TRUST GROUP	58.0%	$             3,117
1,694	CHALLENGER LIMITED	59.4%	$             1,006
665	CHARTER HALL GROUP	63.2%	$                 420
1,025	CHARTER HALL RETAIL REIT	58.5%	$                 599
590	COALSPUR MINES LIMITED	32.9%	$                 194
10,087	COCA-COLA AMATIL LIMITED	46.6%	$             4,703
3,649	COCHLEAR LIMITED	63.9%	$             2,330
80,595	COMMONWEALTH BANK OF AUSTRALIA.	36.3%	$           29,232
2,324	COMMONWEALTH PROPERTY OFFICE FUND	58.2%	$             1,353
4,345	COMPUTERSHARE LIMITED.	44.9%	$             1,949
6,184	CROWN LIMITED	34.5%	$             2,130
20,287	CSL LIMITED	57.3%	$           11,617
767	CSR LIMITED	49.5%	$                 380
583	CUDECO LIMITED	37.4%	$                 218
146	DART ENERGY LIMITED	30.7%	$                   45
1,184	DAVID JONES LIMITED	37.7%	$                 446
438	DECMIL GROUP LIMITED	44.9%	$                 197
4,452	DEXUS PROPERTY GROUP	81.2%	$             3,614
604	DISCOVERY METALS LIMITED	43.3%	$                 261
1,343	DOWNER EDI LIMITED	73.2%	$                 984
2,192	DUET GROUP	47.3%	$             1,038
1,080	DULUXGROUP LIMITED	57.6%	$                 622
3,089	ECHO ENTERTAINMENT GROUP LIMITED	56.0%	$             1,728
587	EMECO HOLDINGS LIMITED	69.3%	$                 407
624	ENERGY RESOURCES OF AUSTRALIA LIMITED	14.0%	$                   88
598	ENERGY WORLD CORPORATION LTD	59.6%	$                 356
1,266	ENVESTRA LIMITED	9.5%	$                 121
1,174	EVOLUTION MINING LIMITED	46.9%	$                 551
1,435	FAIRFAX MEDIA LIMITED	60.9%	$                 874
581	FKP PROPERTY GROUP	49.5%	$                 288
701	FLEETWOOD CORPORATION LIMITED	26.3%	$                 184
3,278	FLETCHER BUILDING LIMITED	49.1%	$             1,610
1,873	FLIGHT CENTRE LIMITED	0.0%	$                      -
14,573	FORTESCUE METALS GROUP LTD	29.5%	$             4,296
596	G.U.D. HOLDINGS LIMITED	28.1%	$                 167
511	GINDALBIE METALS LTD	26.5%	$                 136
1,461	GLOUCESTER COAL LTD	29.4%	$                 429
1,115	GOODMAN FIELDER LIMITED.	76.0%	$                 847
5,176	GOODMAN GROUP	81.6%	$             4,225
5,721	GPT GROUP	85.5%	$             4,890
1,870	GRAINCORP LIMITED	60.2%	$             1,125
249	GRYPHON MINERALS LIMITED	58.7%	$                 146
601	GWA GROUP LIMITED.	24.1%	$                 145
2,024	HARVEY NORMAN HOLDINGS LIMITED	28.0%	$                 566
1,261	HASTINGS DIVERSIFIED UTILITIES FUND	25.6%	$                 323
1,035	HENDERSON GROUP PLC.	44.6%	$                 462
4,987	ILUKA RESOURCES LIMITED	80.3%	$             4,003
389	IMDEX LIMITED	53.5%	$                 208
848	INDEPENDENCE GROUP NL	60.8%	$                 516
467	INDUSTREA LIMITED	43.4%	$                 203
6,861	INSURANCE AUSTRALIA GROUP LIMITED	47.5%	$             3,262
347	INTEGRA MINING LIMITED	41.3%	$                 143
287	INTREPID MINES LIMITED	44.9%	$                 129
1,640	INVESTA OFFICE FUND	71.1%	$             1,166
893	INVOCARE LIMITED	32.1%	$                 287
1,314	IOOF HOLDINGS LIMITED	33.2%	$                 436
4,398	IPERNICA LIMITED	8.4%	$                 371
800	IRESS LIMITED	51.0%	$                 408
3,384	JAMES HARDIE INDUSTRIES SE	81.2%	$             2,749
862	JB HI-FI LIMITED	37.4%	$                 322
926	KAROON GAS AUSTRALIA LIMITED	43.4%	$                 402
856	KINGSGATE CONSOLIDATED LIMITED.	58.6%	$                 502
5,690	LEIGHTON HOLDINGS LIMITED	21.4%	$             1,216
4,050	LEND LEASE GROUP	62.6%	$             2,535
376	LINC ENERGY LTD	26.9%	$                 101
1,629	LYNAS CORPORATION LIMITED	66.9%	$             1,089
439	MACMAHON HOLDINGS LIMITED	39.8%	$                 175
669	MACQUARIE ATLAS ROADS GROUP	84.9%	$                 568
8,995	MACQUARIE GROUP LIMITED	53.2%	$             4,787
994	MEDUSA MINING LIMITED	48.0%	$                 477
595	MERMAID MARINE AUSTRALIA LIMITED	48.9%	$                 291
1,750	MESOBLAST LIMITED	34.7%	$                 607
3,139	METCASH LIMITED	59.4%	$             1,864
419	MINERAL DEPOSITS LIMITED	76.3%	$                 319
1,719	MINERAL RESOURCES LIMITED	30.4%	$                 522
267	MIRABELA NICKEL LIMITED	42.7%	$                 114
4,222	MIRVAC GROUP	76.7%	$             3,236
1,893	MONADELPHOUS GROUP LIMITED	36.1%	$                 683
917	MOUNT GIBSON IRON LIMITED	34.1%	$                 313
1,059	MYER HOLDINGS LIMITED	57.2%	$                 606
49,613	NATIONAL AUSTRALIA BANK LIMITED	48.2%	$           23,924
1,539	NAVITAS LIMITED	32.3%	$                 497
18,850	NEWCREST MINING LIMITED	86.2%	$           16,252
15,891	NEWS CORPORATION	0.4%	$                   65
809	NRW HOLDINGS LIMITED	64.1%	$                 518
1,256	NUFARM LIMITED	41.0%	$                 515
544	OCEANAGOLD CORPORATION	27.3%	$                 148
9,013	OIL SEARCH LIMITED	69.4%	$             6,251
1,225	ONESTEEL LIMITED	55.9%	$                 684
8,804	ORICA LIMITED	58.8%	$             5,177
14,055	ORIGIN ENERGY LIMITED	47.1%	$             6,620
2,551	OZ MINERALS LIMITED	65.7%	$             1,675
498	PACIFIC BRANDS LIMITED	66.4%	$                 330
994	PALADIN ENERGY LTD	43.7%	$                 434
1,626	PANAUST LIMITED	25.4%	$                 413
150	PANORAMIC RESOURCES LIMITED	64.1%	$                   96
908	PERPETUAL LIMITED	15.2%	$                 138
1,282	PERSEUS MINING LIMITED	45.8%	$                 587
2,167	PLATINUM ASSET MANAGEMENT LIMITED	11.6%	$                 252
1,415	PREMIUM INVESTORS LIMITED	3.7%	$                   53
2,492	QANTAS AIRWAYS LIMITED	71.1%	$             1,771
14,653	QBE INSURANCE GROUP LIMITED	66.1%	$             9,687
8,198	QR NATIONAL LIMITED	50.4%	$             4,128
1,382	QUBE LOGISTICS HOLDINGS LIMITED	26.6%	$                 368
188	RAMELIUS RESOURCES LIMITED	44.8%	$                   84
4,535	RAMSAY HEALTH CARE LIMITED	31.7%	$             1,438
1,871	REGIS RESOURCES LIMITED	31.7%	$                 593
5,027	RESMED INC	58.6%	$             2,947
942	RESOLUTE MINING LIMITED	75.6%	$                 712
23,792	RIO TINTO LIMITED	54.4%	$           12,948
1,046	SANDFIRE RESOURCES NL	22.7%	$                 237
11,176	SANTOS LIMITED	54.7%	$             6,111
342	SARACEN MINERAL HOLDINGS LIMITED	53.6%	$                 183
2,191	SEEK LIMITED	55.3%	$             1,211
796	SENEX ENERGY LIMITED	3.9%	$                   31
2,441	SEVEN GROUP HOLDINGS LIMITED	21.0%	$                 512
1,465	SEVEN WEST MEDIA LIMITED	27.7%	$                 407
675	SIGMA PHARMACEUTICALS LIMITED	59.0%	$                 399
621	SILVER LAKE RESOURCES LIMITED	41.7%	$                 259
2,043	SIMS METAL MANAGEMENT LIMITED	56.1%	$             1,146
399	SINGAPORE TELECOMMUNICATIONS LIMITED.	12.3%	$                   49
342	SMS MANAGEMENT & TECHNOLOGY LIMITED.	54.2%	$                 185
4,868	SONIC HEALTHCARE LIMITED	60.1%	$             2,926
831	SOUTHERN CROSS MEDIA GROUP LIMITED	69.9%	$                 581
3,374	SP AUSNET	27.2%	$                 919
2,003	SPARK INFRASTRUCTURE GROUP	43.2%	$                 866
654	SPOTLESS GROUP LIMITED	67.4%	$                 440
690	ST BARBARA LIMITED	79.8%	$                 551
7,115	STOCKLAND	76.6%	$             5,447
10,048	SUNCORP GROUP LIMITED	61.9%	$             6,215
997	SUNDANCE RESOURCES LIMITED	41.0%	$                 409
1,381	SUPER RETAIL GROUP LIMITED	33.3%	$                 460
5,398	SYDNEY AIRPORT	59.2%	$             3,195
2,154	TABCORP HOLDINGS LIMITED	56.7%	$             1,222
3,666	TATTS GROUP LIMITED	36.2%	$             1,326
3,421	TELECOM CORPORATION OF NEW ZEALAND LIMITED	72.5%	$             2,479
44,919	TELSTRA CORPORATION LIMITED.	47.8%	$           21,485
533	TEN NETWORK HOLDINGS LIMITED	25.6%	$                 136
249	THE REJECT SHOP LIMITED	36.3%	$                   90
3,098	TOLL HOLDINGS LIMITED	45.7%	$             1,415
1,361	TPG TELECOM LIMITED	15.9%	$                 216
971	TRANSFIELD SERVICES LIMITED	55.1%	$                 535
1,215	TRANSPACIFIC INDUSTRIES GROUP LTD	32.2%	$                 391
8,298	TRANSURBAN GROUP	72.2%	$             5,988
2,809	TREASURY WINE ESTATES LIMITED	70.1%	$             1,969
364	TROY RESOURCES LIMITED	42.3%	$                 154
2,019	UGL LIMITED	33.2%	$                 670
851	VIRGIN AUSTRALIA HOLDINGS LIMITED	19.2%	$                 163
29,148	WESFARMERS LIMITED	41.7%	$           12,158
787	WESTERN AREAS NL	0.0%	$                      -
21,096	WESTFIELD GROUP	73.2%	$           15,447
8,429	WESTFIELD RETAIL TRUST	74.1%	$             6,243
62,600	WESTPAC BANKING CORPORATION	42.6%	$           26,680
4,235	WHITEHAVEN COAL LIMITED	35.1%	$             1,488
26,456	WOODSIDE PETROLEUM LIMITED	41.8%	$           11,053
32,636	WOOLWORTHS LIMITED	40.1%	$           13,084
6,175	WORLEYPARSONS LIMITED	50.8%	$             3,139
881	WOTIF.COM HOLDINGS LIMITED	26.1%	$                 230
$    1,051,159			$         514,996

J P Morgan, Citigroup and HSBC are collectively able to approve or reject every major board member & chairman in Australia.  Along with the subsidiary National Nominees, these banks control 49% of all shares and capital in the market - this represents $514 billion of wealth.

As a reference - the Australian Prudential Regulation Authority stated in 2011 that the superannuation investment level for Australia stood at only $95.2 billion.

Special Points of Interest

• The ASX200 crash of 2008 represented only an 8.4% loss of value from the market.  Banking nominees are powerful enough to manipulate the market (or the government reaction to a jittery market) at will.

•  Banks aren't investing in particular players or industries, they are saturating all large firms with bank controlled ownership.  Financial interests are held in all competitors it suggests that investors would be opposed to price wars or cut-throat competition that would hurt the profits of "competing" firms.  

Australian consumers have long been sceptical about the idea of competition amongst the banks or supermarkets or energy companies as if large firms were acting together to maximise profits at the expense of consumers.

Ownership of all major competitors suggests that monopolies exist that are capable of acting against the interests of their customers, companies or national interest if the incentive of reward is great enough.