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Speaker 1: This is what the Flux. I'm Brett and I'm Justin

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Speaker 1: and a Friday, September Josey Boy.

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Speaker 2: The top ten highest paying rolls across Australia in twenty

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Speaker 2: twenty five have been revealed by Sea. In tenth position,

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Speaker 2: we have maintenance managers in the mining industry tipping the

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Speaker 2: scales an average of two hundred and nine k. In

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Speaker 2: sixth we have partners at law firms with an average

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Speaker 2: of two twenty one and in top position radiologist earning

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Speaker 2: an average of two hundred and thirty six k per year.

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Speaker 1: Wow E fox Man. As the beginning of the month

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Speaker 1: kicks off, there is no better time to be checking

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Speaker 1: your credit score to see what went up and what

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Speaker 1: went down over the past thirty days. In the Flux app,

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Speaker 1: we have a credit score Truck app that helps you

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Speaker 1: understand why a score went up, why it went down,

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Speaker 1: and what you can do to improved. If you haven't

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Speaker 1: checked it out yet, make sure to download the Flux

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Speaker 1: app and check out your credit score today.

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Speaker 2: Three humongous stories today Jusy Boy. Let's do it for

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Speaker 2: our first Rugby Australia has wiped its debt after the

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Speaker 2: success of its British and Irish Allions tour this year

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Speaker 2: and now it's ready to run the ball upfield with

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Speaker 2: a big investment.

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Speaker 1: Triscore series for rugby union. B Man, Yeah, so tell

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Speaker 1: me more well.

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Speaker 2: Rugby Australia is the governing body for rugby union in Australia.

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Speaker 1: They're responsible for running the Wallabies, the Wallaroos and Super

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Speaker 1: Rugby franchises.

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Speaker 2: And over the past decade Rugby Australia has battle to

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Speaker 2: stay afloat.

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Speaker 1: Yeah, face significant competition from other sporting codes like NRL

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Speaker 1: and AFL. In fact, Rugby Australia was forced to take

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Speaker 1: an eighty million dollar debt facility in order to stay alive,

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Speaker 1: but the British and Irish lines to it changed the game.

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Speaker 2: That's, of course, the combined team of British, Irish, Scottish

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Speaker 2: and Welsh players and it was their first time playing

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Speaker 2: at the Wallabies in Australia for twelve years.

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Speaker 1: And this series was a whopping success. We're talking pack stadiums, TV,

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Speaker 1: right scale law and more than one hundred million dollars

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Speaker 1: in profit. So now be man cashed up. Rugby Australia

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Speaker 1: has repaid its debt to Pacific equity partners years ahead

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Speaker 1: of schedule.

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Speaker 2: It now has cash flow to run its operations through

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Speaker 2: to the twenty two hundred and seven World Cup, which

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Speaker 2: is hosted in Australia and will pump even more money

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Speaker 2: into rugby Union and Juzzy Boy. The board at Rugby

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Speaker 2: Australia is even considering setting up an investment fund sooner

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Speaker 2: than plan, with the immediate focus on reinvesting their profits

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Speaker 2: to grow rugby across Australia.

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Speaker 1: Interesting, So what is the key learning? A future fund

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Speaker 1: is a financial reserve. It's designed to provide stability and

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Speaker 1: growth long after a big winfall events. Yeap.

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Speaker 2: We most commonly see these future funds run by countries

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Speaker 2: and occasionally we see sporting organizations create them as well.

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Speaker 1: Yeah. In sport, it's often created using profits from major

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Speaker 1: tournaments or broadcast deals and a investor to generate ongoing returns.

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Speaker 1: For example, the Australian Olympic Committee created a future fund

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Speaker 1: from the Sydney two thousand profits. By two thousand and

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Speaker 1: six it was managing one hundred and thirty seven million

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Speaker 1: dollars of assets, which has continued to support athletes decades later.

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Speaker 2: And juse wait the logic's pretty simple. Big sporting events

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Speaker 2: generate huge but irregular revenue, and.

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Speaker 1: Without a plan in place, the money can get spent

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Speaker 1: pretty quickly on short term costs.

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Speaker 2: So by funneling it into a fund, Rugby Australia is

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Speaker 2: planning to ensure that the principal amount stays investor while

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Speaker 2: earnings can support long term project for our second story.

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Speaker 1: Giant Aussie retailer Net has been flagged for investigation by

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Speaker 1: ASIK over non compliant reporting. The beauty company's flawless image

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Speaker 1: is starting to crack. What is the story? So Mecha

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Speaker 1: is the giant Australian beauty retailer that was founded back

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Speaker 1: in nineteen ninety seven.

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Speaker 2: And it's steadily grown a reputation as a premium one

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Speaker 2: stop shop for all things skincare, makeup, fragrance all over Australia.

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Speaker 1: In fact, be Man Mecha made major headlines by launching

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Speaker 1: its first three story beauty concept store in Melbourne earlier

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Speaker 1: this year.

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Speaker 2: It's even got a cafe, nail salon, air salon inside.

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Speaker 1: But Mecha's latest accounts revealed a record revenue of one

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Speaker 1: point four billion dollars for twenty twenty four.

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Speaker 2: Which included a one hundred and ten million dollar dividend

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Speaker 2: payout to a trust fund and.

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Speaker 1: The man this juicy payout is allegedly being used to

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Speaker 1: invest in the company's future growth, not just going to

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Speaker 1: its owner's pockets. But no one really knows for sure

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Speaker 1: where this money is going because these financial details are

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Speaker 1: not reported anywhere. Check on top of that consecutive overdue

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Speaker 1: financial report. So now ASIK is wiping off Mecha's gloss

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Speaker 1: and chasing up Mecha for being tardy and non transparent

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Speaker 1: with its use of company funds.

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Speaker 2: ASIK wants answers and it wants them prompter. So what

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Speaker 2: is the key learning here? Even if you're a private

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Speaker 2: company with a cult following, compliance is not optional.

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Speaker 1: You see be man. Mecha isn't publicly listed, but it's

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Speaker 1: considered a large proprietary company because it is more than

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Speaker 1: one hundred employees and its revenue is over fifty million dollars,

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Speaker 1: and large proprietary companies have to provide a whole suite

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Speaker 1: of reports to ask.

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Speaker 2: We're talking directors reports, order reports, financial reports to ACIK

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Speaker 2: within four months at the end of financial year.

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Speaker 1: But Mecha have repeatedly failed to lodge their reports on

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Speaker 1: time for several years, and the recent disclosure of a

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Speaker 1: large dividend payout without much detail was enough to raise

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Speaker 1: asseix alarm bells. Be Man Mecha isn't the only private

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Speaker 1: company that's received a touch up from acid YEP.

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Speaker 2: Back in twenty twenty two, ASCIK gave Laikomobile a fine

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Speaker 2: for failing to submit their twenty eighteen and twenty nineteen

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Speaker 2: financial reports, and.

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Speaker 1: It's an important reminder that rules apply to everyone, so

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Speaker 1: clearly Acik eight messing around with financial transparency. For our

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Speaker 1: third and final story, electric car maker BYD has seen

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Speaker 1: it shares fall five percent after its profits a little

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Speaker 1: tumble for the first time in three years, profits running

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Speaker 1: out of charge at bad Land b Man, so tell

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Speaker 1: me more so.

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Speaker 2: BYD is the Chinese electric car giant that was founded

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Speaker 2: in nineteen ninety five as a rechargeable battery company called BRD,

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Speaker 2: and when it evolved into an electric vehicle company and

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Speaker 2: sold its products into Western markets, a phonetic match to

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Speaker 2: bid in English was created, hence EYD, and then it

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Speaker 2: created the build Your dream slogan talk about inspirational branding,

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Speaker 2: Build Your Dream and Juzzy Boy with the backing of

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Speaker 2: a Warren Buffett.

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Speaker 1: BYD has grown into the world's largest EV producer yep

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Speaker 1: It overtook Tesla in twenty twenty three.

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Speaker 2: But despite its rapid growth, BYD has reported a thirty

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Speaker 2: percent drop in net profit in the second quarter, down.

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Speaker 1: To a measly six point four billion yuan or eight

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Speaker 1: hundred ninety five million US dollars and Juzyboy. This was

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Speaker 1: its first quarterly decline in more than three years. Next minute,

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Speaker 1: Bwad's investors slammed on the brakes. Its Hong Kong listed

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Speaker 1: chairs dropped four percent and b Man. Recently, the Chinese

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Speaker 1: government has ordered carmakers in China to stop making more

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Speaker 1: price cards, and investors a worry that this may actually

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Speaker 1: ruin Bod's competitive position. Interesting, So what is the key

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Speaker 1: learning here? Businesses competing on price alone risk a race

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Speaker 1: to the bottom. You see, be Man. Sustainable growth usually

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Speaker 1: comes from differentiation.

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Speaker 2: That might be differentiation in brand, technology, customer loyalty, but

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Speaker 2: not just being the cheapest.

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Speaker 1: Get this, average car prices in China have fallen by

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Speaker 1: around nineteen percent over the past two years.

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Speaker 2: And the Chinese government is concerned that this race to

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Speaker 2: the bottom could damage the Chinese economy.

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Speaker 1: So be Man Boda's main differentiator is the fact that

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Speaker 1: it owns both the car brand and the underlying battery,

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Speaker 1: and this means it has the ability to go real

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Speaker 1: low on price, but this is now being limited by

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Speaker 1: the Chinese government. Fox Sam. Every single month your credit

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Speaker 1: score goes off, it can go down, it can stay

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Speaker 1: the same, but it always gets updated and in the

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Speaker 1: Flux app we break it down as the wire scores

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Speaker 1: change and what you can do to help improve it.

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Speaker 1: Make sure to download the Flux app and check out

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Speaker 1: your credit score today. Thanks for listening and we'll see

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Speaker 1: you on Monday.