Matt Mckenzie joined Business News in June 2014 and reports on projects, energy, agribusiness, small business, employment relations, manufacturing and economics. He completed bachelor of arts and bachelor of economics degrees at the University of Western Australia, majoring in political science and international relations, economics, and money and banking. He was formerly president of the UWA Student Guild, where he introduced the first private catering outlets on campus, and has worked at a leading financial services company.
SPECIAL REPORT: Mitsui & Company, Shell and Itochu Corporation are among a swag of businesses that have made substantial investments in the state’s exporting industries over the decades, showing that foreign investors can contribute without directly operating assets.
Investors appear to have shaken off a drop in gold and iron ore prices at the end of September to back Western Australian businesses, with the Business News BN30 index of local shares closing the September quarter near record highs.
Western Australia’s exports are continuing to grow, with $122.5 billion shipped overseas in the past 12 months, up 22 per cent from the same period to August 2016, but retail sales data shows that it is too early to call a recovery.
The state’s largest iron ore mine Roy Hill hit its nameplate capacity for the first time last month, according to Roy Hill Holdings chief executive Barry Fitzgerald, while the exact cost of the project so far has been revealed.
Rio Tinto's long-running project to fully automate its Pilbara rail operations has achieved a milestone, with the first unmanned train journey successfully completed over a distance of nearly 100 kilometres.
The Chamber of Commerce and Industry of WA has warned a Commonwealth Grants Commission proposal for states to retain more revenue from royalty rate changes when calculating the GST distribution might encourage tax hikes, potentially discouraging investment in the mining industry.
In this Business News podcast Mark Beyer, Matt Mckenzie and Katie McDonald discuss the GST debate, Kerry Stokes and gas sector deals, WA's resource sector outlook, local content on big projects, population growth and residential builders.
Western Australians would not be better off under a return to state-based income taxes, according to an award-winning honours paper prepared by a Curtin University graduate who now is part of EY’s infrastructure advisory team.
New ports, better planning and increased use of technology are in the sights of transport industry leaders preparing the state’s freight network for coming decades, according to a panel of experts at a recent Committee for Economic Development of Australia lunch.
The state’s newest co-working space has been opened in Yanchep, after a $10 million investment by the area’s main property developer, in a bid to create a knowledge-based economy in the region ahead of an anticipated population influx.
Oil and gas software developer Stochastic Simulation has gone into liquidation, about five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best-case scenario.
Six local resources companies have announced capital raisings of around $26 million for projects including in lithium and rare earths, with one of the businesses, Okapi Resources, planning to join the ASX bourse.
Shares in three local energy companies have surged today after hitting hydrocarbons while drilling the Xanadu-1 offshore prospect in the Perth Basin, with Triangle Energy leading the charge, up nearly 60 per cent.
State-owned regional power provider Horizon Power has recorded a $35.4 million net profit for the year to June, while hitting its targeted reduction of government subsidies more than a year ahead of time.
State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.
Opposition leader Mike Nahan has called for a parliamentary budget office to be established as part of his budget reply speech today, while lashing out at Labor for not funding the Ellenbrook rail line.
GDP has bounced back from a poor showing in the September quarter with December quarter seasonally adjusted growth of 1.1 per cent, while Western Australia snapped a five quarter streak of shrinking state demand to grow 0.4 per cent.
The University of Western Australia Student Guild has dismissed a staff member over financial irregularities after bringing in forensic accountants from BDO to undertake a special analysis of its 2013 accounts.
Uber drivers using the service as a supplementary income should declare it to their primary employer, according to Minter Ellison partner Kathy Reid, after a driver who had worked during sick leave lost an unfair dismissal claim.
The Roe 8 road project will be cancelled if the Labor Party wins the upcoming state election, opposition leader Mark McGowan said today, even though the government has already signed a contract for construction, with $236 million of funding to be re-allocated to three alternative roads.
Transport Minister Dean Nalder has highlighted the social benefits of Roe 8 and touted the minimal environmental impact of the project at a lunch today, adding that the link would need to be built regardless of any move to an outer harbour.