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Agribusiness

Tax schemes deliver cold, hard truths

The Quintis story is another example of the failure of tax-driven plantation schemes to deliver for investors.

Investors focus on Quintis projects

The Quintis insolvency could play out very differently from other failed agribusiness investment schemes.

Receivers take charge at Quintis

Three partners of McGrathNicol have formally taken control of sandalwood producer Quintis and its Australian subsidiaries after being appointed as receivers and managers today.

Primary, Huntley chase Quintis role

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.

Quintis placed into administration

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.

Embattled Quintis facing $37m payment

Quintis faces more financial pressure after an investor exercised a put option to sell $37 million of plantations to the troubled sandalwood producer.

Quintis growers call meeting

Critics of sandalwood company Quintis, who are already calling for a spill of current directors, are now pushing to replace the responsible entity overseeing its 2002 project.

CBH doubles surplus on big grain season

Grain handling cooperative CBH Group has more than doubled its operating surplus to $247 million in the year to September 2017 on the back of a big harvest, with grower rebates of $156 million.

Quintis buys $3m of sandalwood

Embattled sandalwood producer Quintis has announced the purchase of $3 million of sandalwood from growers operating on plantations managed by the company.

Quintis opposes requisition

Troubled sandalwood producer Quintis says its board intends to advise shareholders to vote against a series of resolutions to spill the board, while also announcing a one week extension on its forbearance agreement.

Spill move for Quintis

A group of Quintis shareholders has requisitioned a general meeting to spill three directors, including chairman Dalton Gooding, with avocado grower Craig Duncan, Kimberley Development Commission director Robert Boshammer and property developer John Allen nominating for roles.

Quintis chair under fire at heated meeting

Quintis chairman Dalton Gooding has come under fire from company founder and former chief executive Frank Wilson and other shareholders at a heated annual meeting today.

Horticulture thrives on new markets, investment

A Manjimup farm business’s $2 million-plus processing facility has become the latest in a string of horticultural investments around the state.

Competition challenge in grain exporting: ACCC

Industry stakeholders are concerned about the level of port market share held by grain handler CBH Group, while entry for new players like Bunge has been challenging, according to a new Australian Competition and Consumer Commission report.

WA lobster industry worth $282m

The western rock lobster industry contributes $282 million and around 900 jobs directly to the Western Australian economy with an overall impact of more than $500 million, a new report has found.

Govt backs ag accelerator to harvest big ideas

A new accelerator program for startups in the agribusiness sector will get under way next year after securing funding from the state government’s Department of Primary Industries and Regional Development.

Business spreads the tentacles of transition

An economy in transition offers hope for WA to emerge with a broader base.

Further award nod for Franceschi

Western Australian avocado farmer Jennifer Franceschi has won a category in the national Telstra Businesswoman of the year awards, although News South Wales-based refugee advocate Violet Roumeliotis took out the top prize.

Quintis receives $US20m lifeline

Embattled sandalwood producer Quintis has been thrown a lifeline after entering into a high-interest debt facility for up to $US20 million ($15 million), while also announcing a net loss after tax of $416.8 million for the year to June 2017.

IMF to bankroll Santanol fight

The private investors in sandalwood business Santanol Group, led by Tony Jack and Bob Bunning, have gained backing from litigation funder IMF Bentham for their fight against private equity group KKR.

CBH leads as WA co-ops feature in national report

The Western Australian cooperative and mutuals sector continues to perform strongly on the national stage, with WA accounting for four of the country’s top 10 co-ops and mutual enterprises, a new report has found.

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