Portfolio Profile

If IBA considers it does not have the experience or internal capability within a sector or investment, it will engage industry experts to assist with due diligence and to act as independent and external directors on those assets until IBA considers it has developed the necessary internal capability.

IBA’s preference is to invest in sectors where there is a clearly identifiable and acceptable level of risk, internal or partner expertise and no prior market failure.

IBA classifies its current investments into the following asset clusters (assets having common attributes):

Commercial property – including office accommodation. A key component of IBA’s portfolio, commercial property investments allows IBA to maintain a balance between the risk and return of the other asset clusters. IBA actively explores opportunities for investment in locations where it does not currently have a strong investment presence.

Manufacturing - is a relatively new investment interest for IBA and part of a deliberate strategy to diversify its portfolio asset base and secure important regionally based assets.

Mining and mine services - despite the volatile nature of the industry and considerable barriers to entry, mining services can provide opportunities to new partners in this sector. IBA looks for investment opportunities that will include capability partners, access and retention of a skilled workforce and the ability to secure contracts at sustainable and commercial rates at multiple sites.

Primary industries – which includes agriculture, horticulture and aquaculture, tends to have more associated risk due to the unpredictable natural elements the industries rely on to prosper. IBA isn’t seeking any further investments within this industry at this time.

Retail supermarkets - are a new asset cluster within IBA’s portfolio. We seek further opportunities in regional and rural centres where commercial rates of return can support Indigenous ownership.

Tourism and hotel accommodation and experiences -  can provide a stable consistent return. There are also often more Indigenous employment and training opportunities associated with this asset cluster. IBA is targeting larger hotel properties, generally run by international hotel groups.

The table below lists IBA’s current investments. If you wish to discuss a business proposal or need any further information please Contact Us.

Commercial property

	Location	Details
	Scarborough House Atlantic Street, Woden, ACT	Scarborough House is a vibrant commercial building within the busy Woden town centre of the ACT. It is renowned for its eye-catching design and has maintained its NABERS Energy rating of 4½ stars. This asset benefits IBA’s Indigenous partners by providing them with an opportunity to invest in a large, attractive capital asset with relatively low levels of equity and risk exposure. It provides IBA’s partners with access to income and capital growth which can underpin the future financial structure of their corporation and their community.
	Port Botany Transfer Station Lot 21 Military Road, Matraville, NSW	The acquisition of the Port Botany Transfer Station enabled IBA to have a presence in New South Wales and gave Indigenous groups an opportunity to participate in a local investment.
	Government Centre First Street, Katherine, NT	Centrally located within the township of Katherine, approximately 300 kilometres south of Darwin, the Government Centre is a commercial property with ground floor and upper-level office accommodation. IBA purchased the building in June 2000 as part of its strategy to increase the geographical coverage of its investments.
	CPS Building 44 Waymouth Street, Adelaide, SA	The CPS Building is a modern office building in the City of Adelaide’s core office precinct. It was built in 1988, and IBA acquired the property in June 2003. The building is subject to a long-term leaseback to CPS Credit Union and provides a reliable income to IBA. IBA is currently in negotiations with local Indigenous groups to co-invest in the building.
	Commonwealth Centre 3 Brand Street, South Hedland, WA	IBA purchased the Commonwealth Centre in South Hedland in 2000 as part of a strategy to invest in remote areas of Australia. The building accommodates the Regional Indigenous Coordination Centre, the local Centrelink office and various local Indigenous organisations. IBA is currently selling down 50 per cent of its equity to a local Indigenous Corporation.
	Goldfields Building 50 Colin Street, West Perth, WA	IBA, together with the Perth Noongar Foundation (PNF) and the Noongar Country Economic Foundation (NCEF), purchased the Goldfields Building in West Perth in November 2002. This asset is currently undergoing an upgrade of its forecourt area, which will enhance its street appeal and reduce ongoing maintenance costs.
	Homestead Centre Cnr Throssell and Tonkin Streets, South Hedland, WA	IBA purchased the Homestead Centre, a retail and office complex in South Hedland, in March 1993, in association with the Port Hedland Regional Aboriginal Corporation. The Homestead Centre, which is operated as a body corporate, caters for 13 tenancies over 1,441 square metres.
	Huntlee Estate Branxton, Hunter Valley, NSW	Huntlee Estate is a joint venture formed to develop a 1,750 hectare residential, lifestyle, commercial and conservation project in the lower Hunter Valley in New South Wales. IBA has established the Huntlee Estate Indigenous Participation Trust, which will give qualified Indigenous groups an opportunity to acquire a share in the project, and so derive significant long-term financial benefits.
	IBA Building 39–43 Boulder Road, Kalgoorlie, WA	The IBA Building in Kalgoorlie was only partially complete when IBA acquired it in 2003 from the administrator of the Goldfields Medical Fund. In early 2004, the building was completed to meet the requirements of the standards for Australian Government tenants. The local Indigenous Coordination Centre operates from the building.

Manufacturing

	Location	Details
	Inverell Manufacturing Plant Swanbrook Road, Inverell NSW	The factory has been successfully manufacturing stock feeds and pet foods for close to 20 years and the acquisition of this asset provides real employment opportunities for job ready Indigenous people in the manufacturing and engineering trades.

Mining and mine services

	Location	Details
	Carpentaria Shipping Services RM loading Facility, Bing Bong, NT	Carpentaria Shipping Services (external website, new window) is a joint venture between Mawa Riinbi Pty Ltd, representing the four language groups in the Borroloola region, IBA and P&O Maritime Services. Since commencing operations, Mawa Riinbi has used profit distributions to purchase some of IBA’s equity and has steadily increased its ownership level.The business ships zinc and lead concentrate from the McArthur River Mine; barging it from the port of Bing Bong, in the Gulf of Carpentaria, to ships anchored 30 kilometres offshore.
	Ngarda Civil & Mining Limited, Perth Head Office, 185 Great Eastern Highway, Belmont, WA Port Hedland Office, 4 Kangan Way, Wedgefield, WA	Ngarda Civil & Mining Pty Limited (external website, new window) (Ngarda) is a service-based company providing earthmoving, civil engineering and contract mining services to the resources and construction sectors. The company has its headquarters in Belmont, Perth, while most of its business operations are located in the Western Australian Pilbara region, which is dominated by the iron ore, gas and oil industries. Ngarda is owned by the Ngarda Ngarli Yarndu Foundation, IBA and Leighton Contractors Pty Ltd.While pursuing a commercial rate of return, Ngarda regularly achieves its target of an Indigenous employment rate greater than 50 per cent. This is a big challenge for any business in the remote Pilbara region, where many Indigenous people face significant barriers to education, and where English is often a second language. By upskilling its Indigenous employees, Ngarda creates a problem for itself, with many Indigenous employees leaving to further their new careers with other major mining companies such as BHP Billiton and Rio Tinto.

Primary industries

	Location	Details
	Cummeragunga Farm, Barmah NSW	IBA acquired Cummeragunga Farm in 2005. The property is a 398 hectare, mixed freehold farm adjacent to the Murray River near the town of Barmah, in New South Wales. The farm consists of good quality land, part of which is suitable for irrigation through a water allocation from the Murray River. A local Indigenous organisation, Ulunja Incorporated, leases four hectares of the property to support its timber business. IBA has also been working with a local registered training organisation to develop and deliver training in commercial farming operations to the local Indigenous community.
	Indigenous Fishing Trust—abalone licence Darwin, NT	The aim of the Indigenous Fishing Trust is to acquire and hold quota and associated licences for the benefit of present and future generations of Indigenous Australians wishing to enter the fishing industry. In December 2004, the Trust acquired its first quota and associated licence. The licence allows for an annual quota of abalone to be fished from the Western Zone of Victoria, which lies between Apollo Bay and the Victorian–South Australian border.

Retail supermarkets

	Location	Details
	Leonora Supermarket and Hardware 75 Tower Street, Leonora, NT	IBA acquired the supermarket in Leonora in September 2007. The township of Leonora, situated 230 kilometres north of Kalgoorlie, supports a population of 1,500 people. The Leonora Shire has a population of 4,190 and is the service centre for the mining industry, the exploration industry and the well-established pastoral industry.The supermarket also operates a newsagency and sells a small range of hardware. Outback Stores Pty Ltd has been engaged to provide management services to the store. Some refurbishment of the store in 2008–09 enabled it to increase the range of goods for sale and improved its overall presentation.
	Tennant Food Barn, 48 Paterson Street, Tennant Creek, NT	In November 2008, IBA and Julalikari Council Aboriginal Corporation acquired the Tennant Food Barn. Julalikari represents 16 Indigenous groups in Tennant Creek and the surrounding Barkly Shire, and actively promotes the local Indigenous community through a wide variety of projects, including arts, tourism, and conservation.
	Outback Stores Pty Limited, Head Office, Berrimah, NT	Outback Stores Pty Limited (external website, new window) is currently a wholly owned subsidiary company of IBA that was established in 2006 to implement the Federal Budget measure ‘Strengthening Indigenous communities—improving the sustainability of community stores’. Outback Stores has an independent board consisting of recognised leaders in the grocery retail industry. Since its inception it has assumed management of 27 community stores—22 in the Northern Territory, three in Western Australia, one in Queensland and one in South Australia.Outback Stores provides store management services to Indigenous-owned community stores and ensures that the stores are able to meet the health and nutritional requirements of Indigenous populations through operational improvements. The company respects and builds strong relationships with the communities it works with, resulting in stores that people can take pride in and feel a part of. During the 2008–09 financial year it was recognised that for Outback Stores to effectively achieve its goals it would require some constitutional changes. Subsequently, it was agreed that the company be transferred to the Department of Families, Housing, Community Services and Indigenous Affairs to facilitate the Government’s broader social objective of food security. The transfer of Outback Stores is expected to be finalised by the end of September 2009.

Tourism and hotel accommodation and experiences

	Location	Details
	Mungo Lodge, Mungo National Park, NSW	Mungo Lodge (external website, new window) was purchased in October 2003. It is situated adjacent to Mungo National Park, within the Willandra Lakes World Heritage Region of New South Wales. The region was granted World Heritage listing in 1981 in recognition of its Indigenous heritage, archaeological values and natural landscape. The IBA Board’s decision to purchase this asset was motivated by a desire to preserve that significant cultural heritage.
	Cape Don Experience, Cobourg Peninsula, Arnhem Land, NT	In March 2007, IBA and the Djuldjurd Aboriginal Corporation purchased the business known as Cape Don Experience (external website, new window). The business provides a sports fishing and ecotourism experience in pristine waters off the Australian coastline.
	Gagudju Crocodile Holiday Inn, Flinders Street, Jabiru, NT	The Gagudju Crocodile Holiday Inn (external website, new window) at Jabiru, a two and a half hour drive from Darwin, is the only four-star accommodation within the World Heritage–listed Kakadu National Park. The hotel’s unique architecture – it is designed in the shape of a crocodile – attracts significant worldwide interest.  Please enjoy this video tour (external website, new window).
	Gagudju Lodge Cooinda, Cooinda, Jim Jim, NT	Gagudju Lodge Cooinda is located at the southern end of Kakadu National Park and operates the highly successful Yellow Water Cruises. Cooinda also offers gorge and waterfall tours and operates the Warradjan Cultural Centre. IBA is negotiating a further equity selldown to its Indigenous partner.
	Wildman Wilderness Resort Wildman Road, Mary River National Park (proposed), NT	In December 2006, IBA acquired Wildman Wilderness Resort, in the proposed Mary River national park. The business requires extensive capital works to lift the property standard to a level that matches the natural beauty surrounding it and several exciting concepts have now been designed and scoped. Plans for the redevelopment are being finalised and works are expected to begin in late 2009.
	Holiday Inn Townsville, 334 Flinders Street, Townsville, Qld	In June 2008, IBA acquired the Holiday Inn Townsville (external website, new window). IBA has structured the investment to enable Indigenous participation at an ownership level and to leverage supplier, employment and training opportunities. The hotel, which is managed by InterContinental Hotels Group under a management agreement, is branded as a Holiday Inn.A number of investment objectives have already been achieved for this asset in the short time IBA has owned it. These include an Indigenous trainee group working in the hotel, with several gaining full-time employment in hotel management, and IBA staff working with the local community to provide over 60 beds for a youth hostel. IBA staff, in conjunction with Arts Queensland, commissioned over 200 pieces of artwork to be painted by local Indigenous artists and displayed throughout the hotel. IBA has begun a hard and soft refurbishment of the hotel, which it expects to complete by September 2009. IBA is in discussion with a number of local groups in its search for an Indigenous co-owner.
	Tjapukai Aboriginal Cultural Park, Western Arterial Road, Caravonica, Qld	Tjapukai Dance Theatre was the first Indigenous tourist attraction in Australia. Born of a need to portray Indigenous culture with dignity and pride, the operation opened in a Kuranda basement in 1987. Tjapukai Aboriginal Cultural Park (external website, new window) allows visitors to experience every facet of Tjapukai culture, as well as gain a greater understanding of the Tjapukai way of life and traditional practices. Tjapukai is one of the largest private employers of Indigenous people in Australia, employing approximately 80 Indigenous people. Tjapukai has won several state and national industry awards. It was inducted into the Queensland Tourism Awards Hall of Fame in 2000 and in 2004 it was named Australia’s best tourist attraction by the Australian Tourism Export Council.
	Fitzroy River Lodge Great Northern Highway, Fitzroy Crossing, WA	The Fitzroy River Lodge was established in 1989. IBA became involved in the business in July 2001. At the same time, Leedal Pty Ltd, which represents local Indigenous groups, acquired a majority equity holding in the investment, with the remaining equity being held by industry partners. The lodge, which is built in the style of a pastoral homestead, includes 20 hectares fronting the Fitzroy River. It is often referred to as an oasis in the region. The lodge assists Leedal to subsidise the groceries sold at its supermarket, sponsor a children’s education program, supply computers for the school, support local sporting carnivals and provide opportunities for local Indigenous Fitzroy residents to travel.