Business News

Board Moves December 6, 2016

Chris Thoroughgood has resigned as alternate director of East Energy Resources.

Vocus to build $US170m subsea cable

Vocus Communications appears set to deliver the Perth-to-Singapore subsea telecommunications cable after inking a construction agreement with French company Alcatel Submarine Networks.

$1bn cruise ship docks in Fremantle

The fourth-largest cruise ship in the world has made its Australian debut in Fremantle, where it will be docked until tomorrow afternoon.

HearMeOut debuts on ASX

Social media technology company HearMeOut has closed below its offer price on its first day on the ASX, after completing a $6.5 million initial public offering.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Insolvency appointments November 23 to December 5, 2016

FirmAppointee/SolicitorAppointed asfor Company NamePublished DatePiggott PartnersMathieu TributliquidatorMolten Tech Pty Ltd5/12/2016FTI ConsultingIan Charles FrancisliquidatorKingallan Pty Ltd5/

Board Moves December 5, 2016

Corporate finance and mining executive Jonathan Shellabear has been appointed non-executive director of Capricorn Metals.

Tap names new chairman

Oil and gas play Tap Oil has confirmed James Menzies as its new chairman, after he joined the board in May as a director and was earmarked as Doug Bailey’s successor.

Guthrie resigns as Toro boss

Perth mining executive Vanessa Guthrie has announced her resignation as managing director of uranium-focused Toro Energy.

Board Moves December 2, 2016

Yan Zhao has resigned from the board of African Energy Resources. Mr Zhao was alternative director to Ian M Hume. Global Health has appointed Pattie Beerens as non-executive director.

Pioneer signs $100m facility

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Board Moves December 1, 2016

Kent Hunter, founding director of Cazaly Resources, has resigned as non-executive director. Terry Gardiner has been appointed as non-executive director.

Greens flip on backpacker tax

A particularly stressful week for farmers has come to a relieving end with the Greens today supporting the federal government’s proposed 15 per cent backpacker tax after voting against it yesterday.

$30m upgrade for Margaret River SHS

The state government has announced a $30 million upgrade of Margaret River Senior High School to boost its capacity to 1,200 students.

Rottnest Express partners with Westpac for UnionPay trial

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

Iluka blows $6m on failed titanium venture

Mineral sands minder Iluka Resources says it has agreed with joint venture partner Vale to end plans to develop a titanium project in Brazil after deeming it unfeasible.

NRW bids for Hughes operations

Civil and mining contractor NRW Holdings has announced plans to buy the east coast operations of failed mining services company Hughes Drilling, with the acquisition price undisclosed.

Paladin seeks help as debt deadline approaches

Debt-troubled Paladin Energy has started discussions with some of its stakeholders and convertible bond holders about the looming deadline for a $US212 million repayment, as a cloud hovers over the company’s planned sale of a stake in its Langer Heinrich uranium mine to meet those repayments.

Board Moves November 30, 2016

Martin Rogers has resigned as executive chair and director of Actinogen Medical. Mr  Rogers has been chairman since Actinogen Medical’s inception in late 2014.

Farmers furious at backpacker tax defeat

The federal government’s plan for a 15 per cent rate backpacker tax has been knocked down in the Senate, with the state’s farming body left furious and desperate for a solution.

KPMG Energise, OzAPP Awards name finalists

Seventeen Perth-based startup organisations have been selected to participate in the KPMG Energise and OzAPP Awards accelerator programs to help grow their businesses.

Board Moves November 29, 2016

Mel Ashton has retired as director and chair of Empired. Current director Richard Bevan will become chair, and Thomas Stianos has been appointed as director.

Fortescue names vessels after family

Fortescue Metals Group has recognised the family of chairman Andrew Forrest by naming four new very large ore carrier (VLOC) vessels after his wife and children.

Matthews to lead graphite play

Former MZI Resources managing director Trevor Matthews has been named chief executive of local graphite hopeful Volt Resources.

Western Areas signs offtake deal with Nickel West

Western Areas has locked in its second nickel offtake agreement in as many days, announcing today a deal with BHP Billiton subsidiary Nickel West for product from its Forrestania nickel mine.

TTE recruits former LNG boss

Perth-based oil and gas explorer TTE Petroleum has recruited former Liquefied Natural Gas boss Maurice Brand as part of a board restructure that includes the resignation of current chair Darren Levy and the movement of chief executive Paul Garner to a non-executive role.

New co-working space for Karratha

The state government has allocated $2 million for a new co-working space in Karratha to promote small business and startups in the area.

Board Moves November 28, 2016

David Parker has resigned as director of Aurora Labs.

Board Moves November 21-25, 2016

Coventry Group has appointed its former chief financial officer Robert Bulluss as company secretary following the resignation of Chris Lloyd. 

Brierty expects $5m half-year profit

Perth contractor Brierty has confirmed it expects to report a significant uplift in half-year profit after cutting back costs and adopting a ‘back to basics’ strategy.

Farmers applaud 15% backpacker tax

The state’s agricultural body has welcomed the Commonwealth’s decision to reduce its planned backpacker tax to 15 per cent, less than half than what was originally proposed.



$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.

FMG appoints Gaines as CEO

Fortescue Metals Group has announced major changes to its leadership, with a new chief executive taking the reins and its directors taking a hands-on role to support an updated strategy that focuses on producing more higher-grade iron ore.

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.

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EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

Robert Kennedy passes away

Company director Robert (Bob) Kennedy, who was a director or chairman of four ASX-listed companies, has passed away after a short illness.

Taxi plate buy-back part of transport shake-up

Perth taxi and Uber users may see a 10 per cent fare hike for the next four years to fund taxi plate buy-backs as the state government revamps on-demand transport.

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.