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Welcome to

STATE

DEVELOPMENT

FUND

Welcome

State Development Fund Limited

And Controlled Entities

State Development Fund Limited (SDF) is a holding company providing financial and management support to its investee companies since 2001.

It currently has two major investments being Auspep Holdings Limited (77%) and Australian Regional Airports Pty Ltd (69%).

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Directors

John Nissen



Has over 30 years experience in stockbroking and investment banking industries. Over the last 20 years he has taken an active interest in the holiday resort industry and currently holds directorships in four membership based resort companies. John is a founding director and shareholder of SDF, Auspep Holdings Ltd and Australian Regional Airports Pty Ltd. 

Heather Trump-Pool

Ms. Trump-Pool has been involved on international investment markets and represents a significant shareholding in SDF from its inception.

Colin McKeown



Mr McKeown completed a Bachelor of Commerce degree at Melbourne University in 1975 and became a Chartered Accountant in 1979. He commenced his own accounting practice in 1988 and has over 40 years’ experience in the accounting profession.

As an unlisted public company State Development Fund Ltd does not have a daily quotation. The directors being conscious of this position have responded to shareholders willing to transact by establishing the shareholder buyer/seller page under shareholder information.

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INVESTMENTS

AUSPEP HOLDINGS LIMITED (AUSPEP)

SDF OWNS 77% OF THE SHARE CAPITAL OF AUSPEP

Auspep was established in 1987 with the fundamental purpose of addressing the increasing demand for synthetic peptides with the Australian research community. It started its operations at the Victorian College of Pharmacy.

In 2009 the company relocated to a new purpose-built Good Manufacturing Practice (GMP) facility in Melbourne Australia. Auspep is currently the only GMP manufacturer of peptides in Australia. It has successfully partnered with pharmaceutical and medical device companies to synthesise peptides for clinical trials and as active pharmaceutical ingredients (API). Auspep has become a preferred supplier of custom peptides to a broad range of academic, government, pharmaceutical and biotechnology institutions both in Australia and overseas.

Auspep is the only GMP accredited manufacturer of peptides in Australia and specialises in the development and production of synthetic peptides as API’s. For over 20 years Auspep has supplied peptides and related products to researchers around the world. Our vision is to be a global manufacturer of high quality custom synthetic peptides.

Today, Auspep has a turnover of approximately $A6million with an EBITDA of more than $A2million.

AUSTRALIAN REGIONAL AIRPORTS PTY LTD (ARA)

SDF OWNS 69% OF ARA

ARA owns 49% of the Burnie Airport Comporation Unit Trust (BAC), the other 51% is owned by the Burnie City Council in Tasmania. BAC is the owner of the business and assets of the Burnie-Wynyard Airport, Tasmania. Thus SDF, has an effective 33.81% interest in BAC.

BAC acquired the business and assets of the Burnie-Wynyard Airport in September 2001. Trading up to the pre-Covid period of 2019, passenger through put was consistently running at approximately 70-75,000 per year.  The airport was put into a phase of ‘care and maintenance’ during the Covid period. The financial year to the 30^th June 2022 has seen a return to more normalised passenger levels and it is estimated that pre-Covid numbers will be achieved in the coming year. At the 30^th June 2022, the net asset of BAC is $6.55million.

Qantas has recommenced operations between Melbourne and Burnie after an absence of 15 years. Together with Regional Express (REX) services, a solid maintainable earning stream is budgeted for the next period.

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