OCA - Oceania Group - retirement villages

[Beagle]

Very strong credentials and will add very useful depth to the board. Good stuff

[YoungBull]

On the odd occasion interest is paid on the refundable amount for a period of time but I would has at a guess it would be at a very low interest rate and in effect the company has what basically amounts to a non refundable interest free loan in perpetuity on most of its property, (apart from common area buildings and facilities), however the latter are funded through the 30% retention of the ORA.

"The village only pays interest on your exit payment when you leave after 6 months at the bank 30-day term deposit rate."

Source: https://www.consumer.org.nz/articles...ement-villages

[Beagle]

The current 30 day Term Deposit rate at the BNZ is 0.15% per annum.

As I said a couple of days ago, ostensibly the company enjoys an ever increasing interest free loan in perpetuity from its residents and banks ever increasing tax free profits from that. Pretty cool business model isn't it

[Beagle]

Construction of the fabulous Waimarie retirement village is being undertaken by well respected https://www.argon.co.nz/ The size of their crane on their is very impressive !
For the sake of our mental health Mrs B and I went for a drive around Tamaki drive today and ended up driving past the Waimarie site to check on progress, (none during level 4) but its definitely starting to take shape. I think they can be back on job on Wednesday under level 3 so that's great.

[Ggcc]

Construction of the fabulous Waimarie retirement village is being undertaken by well respected https://www.argon.co.nz/ The size of their crane on their is very impressive !
For the sake of our mental health Mrs B and I went for a drive around Tamaki drive today and ended up driving past the Waimarie site to check on progress, (none during level 4) but its definitely starting to take shape. I think they can be back on job on Wednesday under level 3 so that's great.

They just need to be able to get building materials. Napier airport can’t get jib and once they can can’t get gib screws. Getting materials is getting tough.

[Waltzing]

"back on job on Wednesday under level 3"

Mr B will be able to whatch the crane actually moving... big step forward...

Thought Hamilton would have to move to level 3 today... lucky very lucky ...the wellington science boys and girls not happy letting auckland out and about...

[Blue Skies]

I see Ryman want all staff working at their Retirement Villages & Age Care facilities to be vaccinated, a huge selling point for potential residents I would think.
Has anyone heard any mention of OCA's position on this ?

In Australia, it is now mandatory for all aged care workers to be vaccinated.
In France also, all Health workers must be vaccinated with at least 1 jab from Wednesday or face suspension without pay.

According to Employment NZ's website, under current law, companies cannot require any individual to be vaccinated, but can insist that certain work is only carried out by vaccinated workers where there is high risk of transmitting Covid to others & the consequences of that being severe illness to others.

[FatTed]

I'm Sure they can mandate COVID vaccination for any new employee and new resident.

[Blue Skies]

I'm Sure they can mandate COVID vaccination for any new employee and new resident.

Would you want existing unvaccinated employees looking after your elderly parents though?
Something exercising the minds of many employers but esp companies like OCA right now.
Imagine the fury if an employee who refused vaccination introduced Covid into a Retirement village/ Aged Care, resulting in deaths.

[FatTed]

No, I think all Health Care workers should be vaccinated, hardly a new concept. At present they need Hep B Smallpox