ASX aged care shares in focus after final results of Royal Commission released
Marc Sidarous | March 1, 2021 5:35pm |
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Regis Healthcare Ltd(ASX: REG) share prices are mixed today after the Australian government’s Royal Commission into Aged Care Quality and Safety delivered its final report.
Estia shares closed 7 cents lower to finish a $2.07. Japara closed the day 4.77% higher to finish at 81 cents per share. Regis shares closed 0.25% higher to end the day at $1.98.
All 3 ASX shares experienced a fall in the half-hour before closing – while the Prime Minister was speaking on the report.
Key points and recommendations
The
Aged Care Act 1997 should be repealed and replaced with a new Act to come into force by no later than 1 July 2023.
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Mortgage Business 02 March 2021
The regulator has officially revoked Xinja’s banking licence, following the completion of its return of deposits.
The Australian Prudential Regulation Authority (APRA) has revoked Xinja Bank Ltd’s authorised deposit-taking institution (ADI) licence.
Last month, Xinja Bank completed its return of customer deposits and transferred the remaining tail of deposits to National Australia Bank (NAB) after making the shock announcement that it would hand back its banking licence and cease offering banking products.
“After a year marked by COVID-19 and an increasingly difficult capital-raising environment, and following a review of the market in Australia, Xinja has decided to withdraw the bank account and Stash (savings) account and cease being a bank. This was an incredibly hard decision,” Xinja had said at the time.
While it remains the state with the highest proportion of loans subject to deferral, Victoria is closing in on the other states and territories, APRA data has shown.