A SHINING STAR

BEST BET I AM A STAR (R6, No.7) Fourth run in last time she easily won the Sunline Stakes over this track and distance. She didn’t have a lot of luck last start at Flemington. EARLY QUADDIE 1,3,4,7,9 / 2,8,11,12 / 1,3,5,9 / 4,6,10,12 COST: $100 for 31.25% BEST VALUE MADEENATY (R4, No.10) Brilliant three-year-old filly who is better suited at this trip and looks well weighted. BIG 6 1,9 / 4,6,10 / 1,2,4,6 / 1,7,11 / 2,5,12,13 / 4,9 COST: $100 for 17.36% KOBAYASHI (1) will find this easier than his recent assignments. He flew last start at Caulfield before tiring. MURAAQEB (4) is an aboveaverage colt and the blinkers go on for the first time. Lost his momentum last start here when he went wide around the turn. CORUSCATE (3) showed talent as a two-yearold with form against smart horses. EXPERIMENTATION (7) strolled in last start at Pakenham Synthetic. OVER EXPOSURE (9) was backed as if unbeatable on debut at Balaklava and the money was spot on. BET Kobayashi win FOUNDATION (6) was a good thing beaten last start, being held up for the last 300m when full of running. That followed a third, also over this track and trip, when he tried to lead throughout. STAR EXHIBIT (4) was well backed to win the Dato Tan Chin Nam but lost his rider at the start. TAVAGO (1) ran an excellent seventh in the Makybe Diva first-up. He won the Sky High Stakes second-up last time. Kiwi JON SNOW (2) has been solid in his two Australian starts and gets to his preferred trip. ECUADOR (3) is likely to lead. BET Foundation each-way MILES OF KRISHAN (12) is an above-average mare making her debut for Lindsay Park. She performed well in a recent jumpout at Flemington. SO YOU TOO (11) resumed with a second in Adelaide three weeks ago. Last campaign she finished third to Sweet Sherry in the Group 2 Euclase Stakes in Adelaide. RUETTIGER (2) has been racing consistently against stronger fields. LABUAN STAR (8) is a consistent mare. WELL SPRUNG (3) hasn’t had much luck in recent starts but has the talent to win this. BET Miles Of Krishan e-w I AM A STAR (7) carried a big weight and was held up in the straight when seventh in the Let’s Elope. Fourth run in last campaign she strolled home in the Sunline under 59.5kg. SMART AS YOU THINK (11) finished well for fifth in the same race and won her only start here. HELL OR HIGHWATER (1) made it a hat-trick when she led throughout to win the Heatherlie. LIZZIE L’AMOUR (3) pulled up with an irregular heartbeat after her Australian debut when seventh in the Dato. She’s a Group 1 winner in NZ. MONTOYA’S SECRET (8) should be ready to improve. BET I Am A Star win HOUTZEN (1) wasn’t disgraced when she finished a short-priced third in the Group 2 McEwen Stakes against top older sprinters after being trapped wide throughout. Regular jockey Jeff Lloyd will ride her and is expected to use gate three to lead. This is much easier against her own sex. MINTHA (9) finished powerfully for fifth to FOX SWIFT (5) at Flemington over 1200m. SPLIT LIP (3) ran home well for second in that race. INVINCIBLE STAR (4) resumes, having shown heaps of talent in her two starts. BET Houtzen win Going to be crazy speed. MALAGUERRA (2) is a first-up specialist who might gain a spot behind the leading group and charge home. A Group 1 winner, he has trialled well at Cranbourne. RUSSIAN REVOLUTION (5) was impressive winning the McEwen Stakes here. Golden Slipper winner SHE WILL REIGN (13) resumes with a big weight advantage. Should also be just off the leaders. SWEET SHERRY (12) is underrated and is drawn to get a good run. TERRAVISTA (1) flies first-up, HEATHERLY (11) and VIDDORA (10) are the next best. BET Malaguerra each-way Speedy three-year-old MADEENATY (10) tried hard when a close-up fourth to Pariah in the Group 3 San Domenico Stakes after finishing second first-up at Flemington to Crown Witness. She is taking on older horses but looks well placed. SUPER TOO (6) is a flying machine and will take catching from barrier one. Fellow Sydney sprinter SUPER MAXI (4) stretched Speedeor at Sandown last start. BALANCING ACT (12) showed great improvement last campaign and has had one start here for a win. BET Madeenaty win WASSERGEIST (9) won with authority at Sandown Hillside after being unlucky at his first two starts. He’s up in grade but looks to have the potential to win this Group 2. Has Hugh Bowman aboard. Stablemate SALSAMOR (7) is promising. MASCULINO (4) made it two from two this campaign with an easy win here over 1509m. TOGA PICTA (6) didn’t fire at Flemington but is better than that. SHOWTIME (3) wasn’t disgraced behind Royal Symphony at Flemington last start. Tony McEvoy is confident AZAZEL (2) will be suited by 1600m. BET Wassergeist each-way

$1.6b deal to transform Beach

Kerry Stokes-backed Beach Energy will double in size, become a major energy supplier to the east coast and a partner in Perth Basin gas production following a $1.6 billion deal.

Beach yesterday said the agreement to buy Lattice Energy from Origin Energy would make it a $3 billion company with Australia-wide and New Zealand oil and gas assets, in both onshore and offshore fields.

The company’s production this year will increase by 150 per cent and its oil and gas reserves by 200 per cent immediately.

This would bring its production to levels about the same as peers such as Oil Search and just less than half of Santos’ production based on last financial year’s numbers.

The Lattice assets include two Perth Basin gas projects — a 50 per cent stake in AWE-operated Waitsia and a 67 per cent operating interest in Beharra Springs.

Chief executive Matt Kay said the company had been working on the deal for 15 months.

“Beach has made a stepchange in terms of size and scale but it’s also created a broader portfolio, a lot more exploration and development opportunities so it makes it a much more sustainable business for the longterm,” he said.

“Our intention is basically to look at how we integrate the two companies and continue to grow and deliver shareholder value.

The deal means Beach will become a “material supplier of gas to east coast markets” which have been struggling with high gas prices and supply constraints.

Beach will fund the acquisition by raising $1.575 billion in funding including the refinancing of existing debt, plus a $301 million capital raising.

Mr Kay said the company’s debt levels would remain relatively low at just less than 35 per cent and the modelling showed it could be debt free by 2020-21.

The move by Beach came as Mr Stokes’ Seven Group Holdings sold its stake in Prime Media, owner of WA television station Golden West Network, to media mogul Bruce Gordon.

Seven Group sold more than 42 million shares on market at 40¢ a share, yielding $16.7 million.

Prime Media is a regional affiliate for the Stokes-chaired Seven West Media, publisher of The West Australian.

Mr Gordon, who owns WIN Corporation, now has just less than 15 per cent of Prime.

REASONS WHY THE TIGERS ARE IN THE GRAND FINAL

1 Damien Hardwick’s computer meltdown. As he and Matthew Knights were chasing the Essendon job in 2007, to replace Kevin Sheedy, Hardwick’s poor reaction to a malfunctioning Powerpoint presentation was seen to lead to Knights landing the position. 2 They never stopped taking their first-round pick in the draft. Even with the misses — Ty Vickery, Ben Lennon, Reece Conca’s injury history, Corey Ellis’ modest start — they just kept going. Now first-round picks Nick Vlastuin, Brandon Ellis, Daniel Rioli, Alex Rance and Jack Riewoldt are all having careerbest years. 3 The Tigers nailed their rare early picks. The only top-five picks on their list are captain Trent Cotchin (pick No.2, 2007) and best player Dustin Martin (No.3, 2009). 4 In 2013 board members Malcolm Speed and Maurice O’Shannassy tussled for the presidency. Thrust forward was the most unlikely compromise candidate, an American lawyer and board member. Peggy O’Neal has turned into an inspired president who backed Hardwick at his most vulnerable last year. 5 After taking Aaron Fiora over Matthew Pavlich and Richard Tambling over Lance Franklin, the Tigers got to the 2007 draft and arrived at pick No.18. Terry Wallace told them, whatever they did, take the big bloke over the small. So they took Alex Rance over Scott Selwood (22) and the rest is history. 6 Richmond defended Martin to the hilt when “chopsticks-gate” hit. Even if his father thought the club could have done more, Martin felt supported enough in his time of crisis to re-sign with the Tigers eventually. 7 Cotchin found a personal mentor who urged him to bare his soul and open himself up. And he started playing like his father-in-law, renowned Footscray hard man Rick Kennedy. He redefined his reputation and, in the process, brought the players together. 8 Blake Caracella felt Chris Scott stopped listening to him about Geelong’s gameplan. They are still close friends — and Caracella’s wife still works at Geelong — but it paved the way for him to help invigorate Richmond’s ball movement in 2017. At Geelong, he wanted quicker ball movement from defence, a tactic he brought to Richmond. 9 Martin Hiscock and his “Focus on Footy” group completely blew their board challenge. They lacked a point of difference and seemed so inept, it strengthened the position of the incumbents and Kevin Bartlett, who made the No.29 his own, helped save Richmond in 1990; and (right) defender Nathan Broad, who was plucked from the WAFL, shows the players’ love for coach Damien Hardwick. sucked the oxygen from subsequent board challengers. 10 Collingwood believed Neil Balme was too soft. The Magpies wanted an in-your-face mover and shaker in Graeme Allan as their football manager, not Balme’s quiet and calm brand of leadership. He had no choice but to jump ship and has led the resurgence at Richmond. Above all else, Richmond needed a cuddly bear who affirmed what it was doing right and fixed what it was doing wrong. 11 Justin Leppitsch was sacked as Brisbane Lions coach. His stellar work on Rance’s footwork and defensive craft in his first assistant stint at Richmond had turned Rance into a champion. Leppitsch became the forward coach who combined with Riewoldt to overhaul the Tigers’ attack. 12 The Tigers got rid of the ridiculously big leadership group that never ended. Instead, Cotchin, Riewoldt and Rance form a tight-knit bunch who lead on the field and by example off it. Rance and Riewoldt never got along that well, but now they are as thick as thieves. 13 Brett Deledio got sick of Richmond and headed to Greater Western Sydney. Not only did the Tigers get first and thirdround picks for him, his departure opened up a half-forward spot for Dan Butler or Jason Castagna. That led to the pressure game that has won the Tigers so many games. 14 Richmond learnt from its losses. It was mocked as mentally weak when it lost to the Western Bulldogs, Fremantle and GWS in Rounds 7-9. But in the next week’s Dreamtime game against Essendon, its leaders were exemplary in the final frantic minutes. Cotchin was huge, Rance marshalled the defence and Riewoldt kicked a big goal. The Tigers had worked it out. 15 Vickery believed he could turn his career around at Hawthorn. He seduced Richmond’s coaches with his potential in 119 games, luring them into playing him most weeks. Only when he was gone and Ben Griffiths was out concussed did Richmond realise playing one ruck and one key forward could change its entire game style. 16 The Tigers started picking on rivals. They exploited Sydney’s salary cap issues by dragging away required player Toby Nankervis for pick No.46 and recruited Gold Coast midfielder Dion Prestia, even if he did cost them pick No.14 and megabucks. 17 Richmond was so bad in 2016, it was handed a dream draw this year. The Tigers won their first five games, of which only one opponent (West Coast) ended up playing finals. Even when they lost four in a row in Rounds 6-9, it gave them a buffer to rebound and make the top four. 18 In the final five homeand-away games, they played only one club that played finals — Geelong, for a 14-point loss at Simonds Stadium. Needing wins to make the top four, they beat Gold Coast, Hawthorn, Fremantle and St Kilda to finish third. 19 Mrs Hardwick. She told her husband to pull his head in, stating he wasn’t the man she married. How many people could deliver that message in a way that makes you listen, rather than want to sleep on the couch for the next four years? 20 Great injury management and durable players who have hardly missed a game in the past eight years, and freakish good luck with collision injuries. Rance, Cotchin, Martin, David Astbury, Dylan Grimes, Shaun Grigg, Daniel Rioli and Brandon Ellis have played every game; Kane Lambert, Kamdyn McIntosh and Nankervis have missed one, Riewoldt and Butler two. 21 They mined the state leagues. Nathan Broad was a mature-ager taken at pick No.67 from WAFL club Swan Districts; Lambert was a VFL star no one believed would make the grade. Broad might play on Tom Lynch tomorrow; Lambert has had a careerbest year. 22 Like his great mate and mentor Alastair Clarkson, Hardwick has started to innovate. No one has ever got through to a Grand Final with a five-man mosquito fleet, let alone a 190cm ruckman (Grigg). Hardwick pushed Ellis to halfback and turned Prestia into a tagger. 23 Hardwick’s players love him and always have. The Tigers lost 10 games by five or more goals last year, but the players mobbed him like he was their father when they beat Collingwood in Round 20. He hadn’t lost that emotional connection despite Richmond’s poor year. 24 The Tiger Army. When Richmond wanted to clear its debt, the supporters, and benefactors such as David Mandie, came from everywhere. It means Richmond has state-ofthe-art facilities, $2 million in the bank, $20 million in assets and the cash to fund a standalone VFL team that replicates the game style and coaching in the senior team. 25 “Damien’s first wish for recruiting was that they have good kicks and character,” former football manager Craig Cameron said of Hardwick’s demands when he arrived at the club. A team that once butchered the ball has built a game plan on ball retention. Martin has made his mistakes, but they don’t have too many ratbags or distracting controversies. 26 The footy gods started smiling on Richmond, which often played teams this season with their best player out or sore. For instance, in the prelim it took on a GWS team without Shane Mumford and Jeremy Cameron, and with Steve Johnson under a fitness cloud. 27 Riewoldt grew up. The dual Coleman medallist might not have been receptive five years ago to playing a totally teamoriented gameplan where so many of his acts are selfless. 28 The footy gods II. When they played the Giants in Round 18, the rain came tumbling down when GWS was all over them. The Tigers flicked a switch and out-grunted the flighty GWS. Wins like that shored up a top-four spot. 29 KB. The man who wore the No.29 jumper with distinction riles Carlton fans, rules traditionalists and the AFL. But Kevin Bartlett helped save the club’s skin with the 1990 fundraising drive, meaning Richmond still existed to turn into a powerhouse today.

I’m good at this: Trump’s tax axe

Donald Trump strolls across the White House lawn after returning from Indiana to sell his tax reform proposals

Donald Trump has pledged the largest tax cut in US history, announcing a $US5 trillion ($6.3 trillion) plan to make the system simpler and fairer.

The US President yesterday proposed slashing the corporate tax rate from 35 per cent to 20 per cent. Reducing seven brackets of income tax to three — 12 per cent, 25 per cent and 35 per cent — would ease the burden for the middle class, he said.

But the plan lacked key details that will determine whether it wins the backing of a divided Republican Party.

These include the overall impact on revenue and the national deficit and whether it would lead to tax cuts for the wealthy.

By declining to say at what income level the new tax brackets would apply, it is impossible to quantify the size and scope of tax breaks for the middle class — which is Mr Trump’s key selling point. These details will be negotiated, but the aim of the framework is to gather support for the broad concepts of the reform.

“This is a once-in-a-generation opportunity and I guess it’s something I could say that I’m very good at,” Mr Trump said as he released the nine-page framework. “I’ve been waiting for this for a long time”

“We’re going to cut taxes for the middle class, make the tax code simpler and more fair for everyday Americans and we are going to bring back the jobs and wealth that have left our country.”

He said he wanted a tax reform plan that was pro-jobs, progrowth, pro-worker and pro-family.

“Under our framework, we will dramatically cut the business tax rate so that American companies and American workers can beat our foreign competitors and start winning again,” he said.

Mr Trump had originally called for the corporate tax rate to be cut to 15 per cent, but claimed yesterday that was a strategic ploy to end up at 20 per cent after negotiations.

Mr Trump denied cutting the top marginal tax rate from 39.6 per cent to 35 per cent would benefit the rich.

His plan would also abolish estate taxes — another boon for the wealthy.

Democrat Senate minority leader Chuck Schumer said abolishing the estate tax would contribute to ballooning the federal deficit by awarding a $US269 billion tax break to the richest 0.02 per cent of Americans.

Cutting corporate taxes, he said, was “a revolutionary change, and the biggest winners will be middle-class workers as jobs start pouring into our country, as companies start competing for American labour, and as wages continue to grow.”

However, the plan includes the potential for “an additional top rate” above 35 per cent to be levied on “the highest-income taxpayers” to ensure the reform “does not shift the tax burden from high-income to lower and middle-income taxpayers”.

The proposals, which must be approved by congress, face a rocky road. Democrats oppose any tax relief for the wealthy, and many Republicans reject tax hikes for the wealthy.

The plan fails to state which tax breaks would be removed to help pay for the trillions of dollars in lost revenue. This is partly a tactic to avoid early criticism by businesses and other groups that will lose tax breaks in the negotiation process.

The tax plan is a key part of Mr Trump’s agenda. Its passage has become more vital to the administration in recent months following the failure to repeal president Barack Obama’s healthcare reforms and the stalled infrastructure package.

Senator Schumer said the tax proposals “would result in a massive windfall for the wealthiest Americans and provide almost no relief to middle-class taxpayers who needed it most. It seems that President Trump and Republicans have designed their plan to be cheered in the country clubs and the corporate boardrooms.”

Failure on taxes, after the collapse of healthcare repeal, could cost the GOP dearly in next year’s mid-term elections with its house majority at stake.

“This is a now-or-never moment,” said Republican House Speaker Paul Ryan, who built his reputation on tax and budget issues.

“Hard-working families and small businesses cannot afford to wait any longer.”

But the Republican-led congress faces critical decisions on eliminating or reducing tax breaks and deductions, with the GOP intent on producing a package without Democratic votes by year’s end.

The last major overhaul, in 1986, was bipartisan, and Mr Trump was courting Democrats. One vulnerable incumbent, Indiana senator Joe Donnelly, accompanied the President on his trip to Indianapolis yesterday to sell the tax proposals.

Jaitley’s response to Sinha’s attack: ‘Job applicant at 80’

New Delhi: The political slugfest over the economic slowdown escalated on Thursday, with finance minister Arun Jaitley hitting back at BJP dissident Yashwant Sinha as a “job applicant at 80”.

A day after Sinha accused him of making a mess of the economy, Jaitley defended his track record and repeatedly suggested that NDA was ta- Sinha: The GROWTH rate has been declining until it reached a 3-year low of 5.7% Jaitley: Growth rates are related to several factors... from 2003 to 2008, we grew with the global trend... We became the fastest growing major economy for the first 3 years (of Modi govt) Sinha: DEMONETISATION added fuel to the fire (of deceleration) Jaitley: Demonetisation had some impact in the short term but it’s positive in the medium and long term. The 15.7% increase in direct taxes is because the personal income tax base is expanding Sinha: Legacy problems (like BANK NPAs) have... become worse Jaitley: During 1998-2002 (when Sinha was FM), NPAs were a staggering 14-15%... I can conveniently forget (that).. I can conveniently forget the $4 billion (forex) reserves left in 1991 king decisive steps, in contrast to UPA’s “policy paralysis”.

He also pointed out Sinha was the FM when India was staring at default in loan re- payment with foreign exchange reserves of less than $4 billion in 1991. Similarly, Sinha was finance minister in the Vajpayee government Central

public sector enterprises (CPSEs) and agencies such as the National Highways Authority of India have decided to step up their capital expenditure by Rs 25,000 crore during the current financial year. This should help the government increase spending to boost economic activity. Of this, around Rs 15,000 crore may be spent on building highways.

FULL COVERAGE: P 15

when non-performing assets of banks were at 14-15% of their loans.

China prods peace between India, US

China hopes that the military cooperation between India and the US will be conducive to regional peace and stability and not the opposite, Chinese Defence Ministry said today.

Asked about India and the US firming up close defence ties during the recent visit of US Defence Secretary James Mattis, Chinese Defence Ministry spokesman Col Wu Qian said China has noted the reports in this regard.

Mattis visited India from September 26-27 and held high- level bilateral talks.

“We hope that the military cooperation between India and the US will be conducive to regional peace and stability but not the opposite,” he said. China has a kept close watch on Mattis’ visit, which comes in the backdrop of New Delhi and Washington steadily stepping up defence ties. The US has offered to jointly manufacture F-16 fighter jets and has approved the sale of Guardian drones to India for long surveillance missions in the Indian Ocean where Chinese ships and submarines are increasing their presence.—

Karunaratne leads Sri Lanka fightback

Opener Dimuth Karunaratne fell seven runs short of a deserved century as he anchored Sri Lanka’s fightback on the opening day of the first Test against Pakistan in Abu Dhabi on Thursday.

The left-hander was run out for 93 but helped his team recover from a precarious 61/3 to reach 227/4 at close after Sri Lanka won the toss and batted on a greenish Sheikh Zayed Stadium pitch.

Karunaratne added an invaluable 100-run partnership with skipper Dinesh Chandimal, who was 60 not out at stumps, as Pakistan failed to break through with the second new ball.

Niroshan Dickwella was unbeaten on 42, having added 66 runs for the unbroken fifth-wicket stand alongside his captain.

Chandimal was given leg before to Yasir Shah on 42, a decision which was overturned on review. His innings has included six boundaries while Dickwella hit five fours and a six during his aggressive knock.

Shah returned figures of 2/59 but didn’t get much turn from the pitch while seamer Hasan Ali took 1/58.

It was Karunaratne’s fourth half-century against Pakistan, and sixth overall, that brought Sri Lanka back into it in the last two sessions.

But he was run out in the last session as he attempted a quick single only to be left stranded after Chandimal at the non-striker’s end sent him back.

Pakistan had the advan- tage in the first session with leg-spinner Shah taking two wickets, dismissing lefthander Lahiru Thirimanne for his 150th Test wicket.

Shah matched fellow countryman Waqar Younis as the joint second fastest to 150 wickets – both achieving the milestone in their 27th Test. Australia’s Sydney Barnes holds the record after reaching the landmark in just 24 Tests.