Turning a heritage five-foot hawker into a global success
Hana Tania - CEO Ayam Penyet Ria Australia Credit: Ayam Penyet Ria Ms. Tania shared insights into the company's journey, highlighting the strategic decisions that propelled them from a local favorite to a global player.
Ayam Penyet Ria South Melbourne branch Credit: Ayam Penyet Ria She also elaborated on her personal path into the family business, revealing that it wasn't her initial career aspiration but ultimately became a fulfilling endeavor.
Credit: Ayam Penyet Ria Listen to SBS Indonesian every Monday, Wednesday, Friday and Sunday at 3pm.
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SBS Australia
15 minutes ago
- SBS Australia
Capital comeback: Australia's four-year house price trend comes to an end
According to the latest Domain House Price Report, the price of houses and units in every capital city increased in the three months to June. Domain's chief of research and economics, Dr Nicola Powell, said "Australia's housing upswing has broadened". "This is the first time in four years that all capital cities have seen house price growth at the same time. For units, it's the first time in two years." Sydney and Melbourne lead the charge House prices in Sydney and Melbourne have experienced their fastest quarterly growth in years. Sydney's median house price jumped 2.6 per cent over the June quarter to hit a new record of $1.7 million, its biggest increase in two years. In Melbourne, median house prices rose 2.3 per cent to reach just over $1 million, marking a three-year high. "These results reflect a turnaround in momentum. Melbourne's recovery puts it on track to reclaim record territory by mid-2026," Powell said. Prices in other capitals also increased. Canberra's median house price rose to a 15-month high, while Hobart's median house price was the highest it has been in more than three years. Brisbane, Adelaide and Perth hit new record highs, with median house prices in Perth (currently $955,000) expected to reach the $1 million mark later this year. Unit prices surge as buyers seek affordability As owning a house pushes further out of reach for many, attention is turning to the unit market. According to the Domain report, national unit prices saw the strongest quarterly growth in two years, rising to a new high of $689,588. Units in Sydney, Brisbane, Adelaide and Perth all reached record prices. "Affordability constraints, high interest rates and rising investor activity are turning the spotlight on units. In many markets, they're now outperforming houses," Powell said. Darwin and Canberra led unit price growth this quarter, with median unit prices in Darwin jumping 5.6 per cent to an eight-year high of $388,169. Median unit prices in Canberra increased 4.6 per cent to $610,752 — their highest value in nearly two years. Brisbane is experiencing its longest stretch of unit price growth in history, while Adelaide has posted nine straight quarters of price gains. What's driving the comeback? Powell said a key catalyst has been improved borrowing capacity, which is up around 5 per cent since the start of the year. She said the RBA's shift towards rate cuts has unlocked fresh demand, meeting still-tight listing volumes and pushing prices higher. "Lower interest rates have given buyers more firepower, but we're still not seeing enough new homes being built," she said. The combination of rising demand and limited supply has intensified competition, particularly in east coast capitals where population growth remains strong. What's next? While the current upswing has defied expectations, Powell says the path ahead may be less predictable and the RBA's next move, after its August meeting, will be crucial. "If we see another rate cut, it could boost demand further just ahead of the spring selling season," she said. "But regulators are watching investor activity closely; they may step in if things accelerate too quickly." Longer-term, supply remains the biggest concern. "National dwelling completions are expected to stay well below what's needed to match population growth," she said. "Without a meaningful boost in new construction, we're likely to see continued price pressure — especially for well-located homes." For now, buyers and investors are being urged to act quickly, particularly in cities such as Perth, where house prices remain just below the $1 million mark. "Value still exists, but it may not last long, this market is shifting, and quickly."
ABC News
15 minutes ago
- ABC News
Macquarie Group-backed ATM provider begins removing machines from suspected illegal tobacco stores
One of Australia's largest private ATM suppliers, Macquarie Group-backed Next Payments, is removing more than 40 of its machines from suspected illegal tobacco stores. Next Payments chief executive Tim Wildash announced the move after an ABC investigation found ATM companies were cutting deals with tobacco criminals and installing their machines in high turnover illegal cigarette shops. Mr Wildash said he had not been aware of the extent of the issue until the ABC's reporting, and he was insisting the company remove ATMs from the outlets. 'If they [the shops] are not legal, we're not going to provide services,'' Mr Wildash told the ABC. The ABC found in some cases Next Payments had deals with criminals or associated businesses to host its machines, even after the men had been caught by police for breaches of tobacco offences or for handling of proceeds of crime offences. The removal of the Next Payments machines came as financial payment processing company EFTEX took action to slash ties with private ATMs in illegal tobacco shops in response to the ABC's revelations. EFTEX,which provides transaction services for over 5000 ATMs, last week told clients it would stop payment processing for machines located in tobacco outlets and other high-risk environments because of the increased regulatory focus generated by the media reports. The illicit tobacco trade has ballooned amid increasing government taxes on tobacco – packs of 20 illegal cigarettes can sell for as little as $8 while Commonwealth duties alone should cost almost $28. The ABC found ATMs were fuelling the at-times violent trade because illegal tobacco outlets would often push customers to pay in cash for the contraband cigarettes, directing people to use in-store ATMs if they didn't have money to hand. The cash transactions made it difficult for authorities like the Australian Tax Office and law enforcement agencies to track the illegal trades and subsequent massive profits. The Australian Criminal Intelligence Commission told the ABC: 'The scale of cash turnover through private ATMs in certain industries make these an ideal target for serious and organised crime groups who thrive off the money made from criminal activities.' In some cases, private ATM providers and the individual or business hosting the machines receive a commission on every withdrawal – and machines at tobacco stores linked to criminals were recording up to three times the normal transaction rates of standard bank ATMs. Some illicit tobacco shops were doing so many transactions they hosted two machines on site, the ABC found. The ATMs also provide opportunities for money laundering when merchants have deals to load their own cash into the machines, experts said. Private ATMs are not captured under anti-money laundering laws. Proceeds of crime cash could be loaded into the machines and when an innocent customer withdrew this money, that customer's bank would then ultimately credit the merchant's account with the same amount. The money's original source does not come under the same level of scrutiny that occurs if criminals try depositing certain amounts of cash in various ways at a bank counter. In one case uncovered by the ABC, a convicted cannabis kingpin operated his own fleet of ATMs sourced from Queensland-based business atm2go and sought to load drug money into the ATMs. Atm2go, which has multiple machines installed in illicit tobacco shops, has declined to comment. Melbourne-based Next Payments' biggest shareholder, with a 47 per cent stake, is Macquarie Group. Mr Wildash has maintained that tobacco was only 1 per cent of business for his organisation and that his company had been cooperating with authorities. He rejected concerns the machines pose money-laundering risks, claiming you would have to be the dumbest criminal in the world to think you could launder cash through a private ATM. Transactions on Next Payment machines are processed by Cuscal, which told the ABC it did 'not have any direct relationship' with Next Payment's clients. Cuscal said Next Payments had provided assurances it was removing ATMs 'from locations that may be linked to the illegal tobacco industry'. Industry sources have told the ABC that atm2go terminals used Eftex to process transactions.
ABC News
15 minutes ago
- ABC News
China punished Australia's loyalty to America, Scott Morrison tells US Congress committee
Scott Morrison has appeared before a committee of the US Congress to implore America to "never become casual" about the economic threats posed by China and its willingness to weaponise trade. Pointing to China's "targeted and illegal trade bans and diplomatic estrangement" when he was prime minister, Mr Morrison said Australia had been punished for its loyalty to the US and now had many lessons to offer the Americans. And — without explicitly mentioning the up-ending of trade relationships caused by the Trump administration's tariffs program, or its AUKUS review — he argued for tighter ties between Australia, the US and like-minded democracies to better ward off any threat. "Above all, I would highlight the need to never become casual about the potential threat and to remain vigilant," he told the Select Committee on the Chinese Communist Party (CCP). "Strengthening and deepening the networks of US alliances and partners is critical to resilience and deterrence. This is as true in the economic sphere as it is in the security sphere." Mr Morrison was invited to give evidence before the bipartisan committee, which was formed in 2023 to assess the CCP threat and "develop a plan of action to defend the American people". Since its formation, it has been sounding alarms on America's economic dependence on China, particularly for mineral exports such as the rare earths widely used in modern technology. "China can so much as flick a switch and cause major damage to the American economy," the committee's top Democrat, Raja Krishnamoorthi, said. Mr Morrison told the committee China changed tactics after Australia's 2022 election, when the Labor Party defeated the incumbent Coalition. The CCP was now using "inductive engagement laced with charm and flattery" to try to manipulate Australia and isolate the US in the region. He said diplomacy with China would never lead to effective solutions. "We have to be clear-eyed about this and not pretend that somehow this is going to be resolved through discussion," Mr Morrison said. The committee's other witness, former US ambassador to Japan Rahm Emanuel, said: "Australia's response to China's coercion is the best example to try to replicate going forward." He argued America and its allies should form a new "anti-coercion coalition" with the "economic equivalent" of NATO's Article 5 clause, which states that an "attack on one is an attack on all". But he warned America's current trade policies meant it risked motivating a similarly united retaliatory response from its partners. He pointed to action taken by the EU after China imposed trade restrictions on Lithuania over the Baltic state's Taiwan policy. "The only time they've thought of deploying that unity now was with the United States because of how we're negotiating with the EU," he said. "So it was designed with China in mind, but … now may be deployed with us." The committee's bipartisan leadership praised Australia's refusal to fold in the face of "economic coercion" from China during Mr Morrison's time in government. They included tariffs on Australian barley, bans on products from Australian meatworks, halts on timber, coal and lobster exports, and a 220 per cent tariff on Australian wine. They were widely seen as politically motivated, including as retaliation for an Australian inquiry into the origins of COVID-19. The CCP insisted they were the result of investigations into Australian trade practices. At one point during Wednesday's hearing, Mr Krishnamoorthi held up a bottle of South Australian shiraz. "This wine has been called 'freedom wine,'" he said. "The pain of what was done, particularly to our wine industry, was real," Mr Morrison said. "Yes, there was some 'freedom wine' sold, but not enough to make up for that impact. "And so if you're going to stand up here, you have to be prepared to take a few hits in the process. But you're much more able to do that if you can take hits with your mates, and your mates have got to show up as well." Mr Morrison said he had "no doubt that the primary objective of the PRC's targeting of Australia during this time was to make an example of Australia as a key US ally in the region, to punish Australia as a warning to others". He said the formation of the AUKUS pact with the US and the UK was a key part of the response. A day before Mr Morrison's appearance, the committee's leaders released a letter they had written in support of AUKUS to Defence Secretary Pete Hegseth. "We must double down on the efforts that Beijing fears the most, including AUKUS," the committee's Republican chairman, John Moolenaar, told the hearing.
