As editor, Mark oversees the day-to-day online news at Business News. His particular brief is following major deals, the professions and private/family businesses. Mark has 35 years' career experience, primarily in business journalism. Before becoming a journalist, he was an economist with the Commonwealth Treasury in Canberra. He has worked for The Australian Financial Review and The West Australian, and also has public relations and corporate affairs experience.
Quintis investors hoping to appoint a new ‘responsible entity’ to have oversight of their sandalwood project will need to change plans after the corporate regulator said their two preferred entities were not eligible to take the role.
Shares in AWE jumped 16.5 per cent today after Japanese group Mitsui & Co became the third bidder for the oil and gas producer, which is the operator and half owner of the Waitsia gas field north of Perth.
Japanese group Mitsui & Co. has announced a surprise $600 million takeover bid for AWE, trumping two existing bids for the oil and gas producer, with the main attraction being AWE’s Waitsia gas project north of Perth.
Fremantle-based Primary Securities and Sydney-based Huntley Group are positioning themselves to take over as the responsible entity for Quintis forestry schemes, as investors continue to question the motives of the company’s board and its major noteholder.
The directors of Quintis have shed light on two restructuring proposals they had been trying to finalise, after announcing on Sunday they had placed the sandalwood producer in administration because of its inability to make a $37 million payment due in two weeks.
PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss the funeral business, St John of God Healthcare, cultural developments, big moves in corporate finance sector and Business News celebrates 25 years.
PODCAST: In this Business News podcast Mark Beyer and Mark Pownall discuss MRA and LandCorp merger, a local bitcoin venture, WA property values, cannabis, plus food trucks, fresh food boxes and fine dining.
Mining veteran Milan Jerkovic is taking the reins at embattled gold producer Blackham Resources, which has negotiated a standstill agreement on a $14 million debt repayment due this week and plans to ask shareholders to contribute $36 million of new capital.
Phoenix Energy has announced major changes to its planned waste to energy project at Kwinana, with Macquarie Capital becoming lead sponsor and two European groups negotiating to take on construction and operations.
The state government has revised its budget deficit for the current financial year to a record $2.6 billion but insists the budget outlook has improved while also confirming it has added Landgate to its list of potential asset sales.
Indonesian businessman Eddy Sariaatmadja has donated specialist medical equipment that is expected to form the cornerstone of an emerging clinical innovation, skills and training hub being planned by Perth business executive Michael Henderson.
Catholic Education Western Australia has modified its delivery strategy for the ambitious ICT project it has created in collaboration with Microsoft, with local firm Empired wining work under a new fixed-price contracting model.
The number of workers on big projects in Western Australia is likely to stabilise at just one quarter of the peak level recorded during the mining construction boom, and that’s only if planned projects get approved, a new study has found.
One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.
Mineral Resources has disclosed that its planned lithium processing projects in the Pilbara will cost in excess of $600 million to build, with managing director Chris Ellison also revealing ambitions for more downstream processing projects.
Sodexo has been shortlisted with two other companies to manage all of Rio Tinto’s camps and other facilities in the Pilbara, in the same week it has been awarded a contract to run Shell’s Prelude Floating LNG facility.
Woodside Petroleum is hoping to win state government backing for a new 700-bed fly-in, fly-out camp at Karratha, after selecting a consortium led by Multiplex and Compass Group to build, own and operate the facility.