Business News

Merchant merges with Somers

Financial services firm Merchant Group has announced plans to merge with investment bank and funds manager Somers & Partners.

Buru takes full ownership of Ungani

Onshore oil producer Buru Energy has taken full ownership of the Ungani operation in the Canning Basin as part of an asset swap with its joint venture partner, Mitsubishi Corporation.

Bidders shortlisted for Murdoch Medihotel

Five bidders have been shortlisted to build the state's first Medihotel at the planned Murdoch Health and Knowledge Precinct, with the successful tenderer to be announced mid-year.

AHG flags profit downgrade, write-downs

Perth-based Automotive Holdings Group will incur a $35 million write-down hit from the closure of some of its underperforming businesses, in response to the weak market for car retailers combined with recent regulatory changes by the corporate watchdog.

Swick raises $5m, buys tech business

Swick Mining Services has raised about $5 million from investors to fund the buyout of minority shareholders in a mineral analysis and measurement technology company in which it already owns a major stake.

Board Moves May 24, 2017

Aspermont has advised that John Stark, Colm O'Brien and Rod Whyte will be stepping down as non-executive directors.

AHG takes stake in auction business

Logistics and car retailer Automotive Holdings Group has bought a major stake in an east coast-based vehicle auction business for an undisclosed sum.

Coventry to buy Alaskan explorer

Subiaco-based Coventry Resources will be rebranded after completing the $8.3 million acquisition of a gold explorer focused on projects in Alaska, and announcing plans for a $10 million raising.

SCEE wins more work

Perth-based contractor Southern Cross Electrical Engineering has won $25 million in contracts for work on Rio Tinto's Amrun bauxite project in Queensland, bringing to about $150 million the value of contracts earned this month.

Board Moves May 23, 2017

Enerji has appointed Adam Boyd as managing director and chief executive. Mr  Boyd was its non-executive director prior to this appointment.

WA upper house gets first female president

Long-serving Labor MP Kate Doust has become Western Australia's first female president of the Legislative Council, while Sue Ellery will lead the government in the upper house.

South West water assets to remain with Water Corp

Water Corporation will no longer hand over Dunsborough water and Busselton drainage assets to Busselton Water after the state government deemed the proposal too costly and without benefit.

Triangle buys out Cliff Head stakeholder

A joint venture between Cottesloe-based Triangle Energy Global and Royal Energy has taken full ownership of the Cliff Head offshore oil project in the Perth Basin after buying out previous stakeholder Roc Oil for $US3.75 million ($A5 million).

Board Moves May 22, 2017

Cardinal Resources has appointed Richard Bray as principal geologist.

Encounter raises funds for gold exploration

West Perth-based Encounter Resources has tapped investors for $3.4 million to fund ongoing exploration at its gold projects in the eastern Pilbara region.

Swift wins work with aged care, LNG clients

Perth-based Swift Networks has won contracts with clients in the aged care and offshore LNG markets for an undisclosed sum.

Perth transport costs among nation's highest

Perth's public transport users are slugged more per year than commuters in any other Australian capital except for Sydney, but Perth is the cheapest city to insure two family cars, according to new data.

Enerji exits administration

Thermal energy company Enerji has exited administration with plans to raise $5.6 million and lift a share trading suspension on the ASX.

Board Moves May 19, 2017

Michael Soucik has resigned as non-executive chair of Global Gold Holdings. The company has appointed Benjamin Cooper as chair and Harry Fung non-executive director.  

Screenwest to combine with FTI

Screen funding and development agency ScreenWest has announced plans to amalgamate the Film & Television Institute WA.

Magmatic debuts on ASX

A new Perth-based gold and copper exploration company has closed flat on its first day of trading on the ASX, after completing a $4 million initial public offering.

People Moves May 19, 2017

Veski opens Perth outpost

AusCann raises $12m

AusCann Group Holdings has confirmed a $12 million capital raising to fund the development and manufacture of medical cannabis products in Australia.

JV partner buys $64m stake in Gold Road

South African mining giant Gold Fields has spent $64.3 million to increase its stake in Perth-based Gold Road Resources to 10 per cent, as the two companies jointly develop the Gruyere project.

Board Moves May 18, 2017

Decimal Software has appointed Pauline Vamos as non-executive director.

Contract to build waste treatment plant for Woodside

An Auckland-based industrial services provider has won a contract with Woodside Petroleum to build a treatment plant in Karratha to process waste from the energy giant's oil and gas operations, for an undisclosed sum.

Pindari wins Rio Tinto work

Indigenous group Pindari has won a multi-million dollar contract to provide cleaning, grounds maintenance and associated services at nine of Rio Tinto's mine sites in the Pilbara.

Survey puts post-boom Perth in gloomy filter

A new survey has shed some light on the impact that the mining downturn has had on households in Perth and Peel, with nearly half of those surveyed saying they don't expect their quality of life to improve anytime soon.

BBI to buy MinRes iron ore operation

The owner of the $6 billion Balla Balla iron ore project in the Pilbara has entered into an option agreement to acquire the nearby Weelumurra asset from Mineral Resources for an undisclosed sum.

Board Moves May 17, 2017

Panorama Synergy has appointed Peter Lewis AM as chief executive.

Regional WA house prices improve: Reiwa

A slight improvement in economic conditions helped regional Western Australia's regional median house price improve in the previous quarter, Real Estate Institute of Western Australia president Hayden Groves says.



$120m in new work for Monadelphous

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.

Perth CBD office vacancy hits 25-year peak

Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.

Gow questions builder's financial status

The building commissioner has put out a public warning against a local building company, saying its financial status warrants questioning.

Blackburne leads WA in Young Rich List

Perth property developer Paul Blackburne is the wealthiest of five Western Australians featured in the BRW Young Rich List 2016.

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Site found for WA's first open-range zoo

The state government has locked in a location for Western Australia's first open-range zoo, which is expected to cost up to $100 million to develop.

Senate orders Roe 8 inquiry

UPDATE: A snap inquiry into alleged breaches of environmental conditions at the Roe Highway extension project will be held next week, after a motion introduced to Parliament by Greens Senator Scott Ludlam was today backed by the Senate.

Hoyts to open cinema in Karrinyup

Hoyts Group has announced plans to open a new cinema complex in Karrinyup and redevelop its Garden City complex, as part of shopping centre redevelopments in those areas.

Corporate opposition to 457 visa axing

Parts of corporate Australia have attacked the federal government's axing of 457 immigration work visas, claiming it is a politically driven move and unfairly targets less than 1 per cent of the workforce.