Client Testimonial

"I have known the Principal, Peter Hutchinson now for several years.

In that time, I have been immensely impressed with his acumen and knowledge of Financial Lending, valuing potential developments (sites and propositions to improve), his attention to detail, and his gentle but thorough manner in evaluating these situations to ascertain whether good business decisions are feasible. MCG’s holding of an unblemished AFSL Licence along with Peter’s involvement on the Board of the Bendigo Bank in Mt Eliza, have given him valuable experience which he has been able to capitalise on.

Peter’s dedication to detail with all legal contracts, is his standard philosophy including his principles of fairness and transparency. He also has a great knowledge and an eye for overseeing working drawings and the associated costs involved, having spent many years with his involvement in the building industry.

I am currently invested into only one project so far, and even though it could not have occurred at a more brutal time with uncertainty in the market and dropping property values causing a lengthy delay, and now with the Corona Virus outbreak creating uncertainty going forward, we are still confident of a satisfactory to good outcome, because of MCG’s experience, due diligence and control.

I believe that MCG is now very well positioned, especially after recently restructuring and streamlining its’ operations, cost efficiency and methodology, to rise and be on top of its’ game in the niche market of small to medium financing and development. I believe the small but efficient team at MCG, is now poised to capture the future rise in affordable development business lending which is certainly needed going forward.

I am certainly looking forward to more future opportunities with Master Capital Group as the current economy transitions.

Yours Sincerely"

Robert Nolan

Property News | Building Works Package

“We’ve always said Victoria is the engine room of the nation – with this package, we’re cranking the engine and kickstarting our economy.” (Treasurer Tim Pallas)

The Victorian Government will create the jobs that matter to Victorians with the announcement $2.7 billion towards shovel-ready projects to get thousands of people back to work.

The package will create 3,700 direct jobs for construction workers, painters, plasterers, gardeners, engineers, plumbers, electricians, carpenters, maintenance workers, administration staff and many others along the supply chain.

The package includes funding for:

  • ten new schools, delivering a further four stages of new school projects, upgrading or modernising 57 schools, purchasing and refurbishing relocatable school buildings, making modifications for students with disability, as well as carrying out fast and job-creating maintenance on schools and TAFEs across the state.
  • public and community housing, with half-a-billion dollars to upgrade 23,000 dwellings and build 168 new homes across the state
  • $382 million in upgrades, maintenance and new experiences at tourism destinations across the state such as delivering 50 kilometres of mountain bike trails in the Ararat Hills and upgrades at the Gippsland Lakes
  • upgrades to local sports facilities, work to improve waterways and coastal areas, and revitalisation and maintenance projects such as tree-planting and graffiti removal
  • $328 million for resurfacing and patching roads, around 300 kilometres of regional track improvements, repairs at more than 15 train stations, train and trams maintenance, and local pier upgrades along the coast
  • $180 million planning and acceleration fund, to keep the momentum going as we continue to build our recovery.

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AFSL licence – When is a Licence required?   

  • An AFSL is generally required to run a financial services business.  
  • An AFS licence authorises the company (and its representatives) to provide financial services to clients. 

In assessing your application, ASIC will consider whether you:

  • are competency to carry on the kind of financial services business specified in the application 
  • have sufficient financial resources to carry on the proposed business, and 
  • can meet the other obligations of an AFS licensee (such as training, compliance, insurance and dispute resolution).  

Master Capital Group has met these requirements by:  

  • having people in our business who are ‘fit and proper’ meaning they are competent to undertake their role in relation to MCG financial services business and have the attributes of good character, diligence, honesty, integrity and judgement   
  • have sufficient financial resources to carry on the proposed business by closely managing our budgets and maintaining communications with our Accountant and Board  

Meeting the other obligations of an AFS licensee including:

  • operating the MCG business efficiently, honestly and fairly;  
  • maintaining our organisational competence to provide the financial services covered by our licence;  
  • having adequate financial, technological and human resources to provide the financial services;  
  • having risk management systems;  
  • having arrangements in place for managing conflicts of interest and dispute resolution systems  
  • complying with the financial services laws and ensure their representatives comply with them; and  
  • complying with the conditions on their licence  

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Wishing you and your family a Happy New Year!

All the happiness, good health and success

for 2021

From the team at Master Capital Group.