Decmil has won its court stoush with Avid Australia over $1.3 million in unpaid bills Avid Resources contested before its collapse, ending a six-month long legal battle.
Our board moves wrap includes Nicholas Katris, Michael Naylor, Kenneth Williams, Mark Connelly, Richard Crookes, Matt Freedman, Andrew Denniss, Dickie Dique, Ashok Parekh, Jon Price, Sam Pazuki, Ian Murray, Mick Wilkes, Robert Stockdale, Mathew Longworth, and Dale Schultz.
Our board moves wrap includes Malcolm Randall, Alexander Molyneux, Bruce McFadzean, Peter De Leo, Dean Felton, Vin Vassallo, Dickie Dique, Ed Mason, Tony Ho, Simon Cato, Terry Holohan, Stuart Gale, and Peter Hatfull.
Shares in Decmil fell 11 per cent after posting a $3.9 million loss for the half-year, alongside a lift in revenue, as the company picks up more work but grapples with labour availability and contract disputes.
Contractor Decmil has completed its works on the Sunraysia solar farm in NSW, which were at the centre of a legal dispute with part-owner Maoneng Australia.
Decmil and NRW Holdings have been awarded contracts under the state and federal government's estimated $216 million infrastructure spend on the busy travel route.
Avid businesses may have been insolvent as early as November 2019, administrators believe, with underquoted tenders and a Decmil dispute contributing to the demise.
Osborne Park-based Decmil Group is chasing Avid Australia for more than $1.3 million it claims it's owed for works at Rio Tinto's Mesa mines, just one week after Avid's subsidiary went bust.
ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.
Osborne Park-based Decmil Group has cited delays in the awarding of contracts and project starts in lowering its full-year revenue guidance, but predicts a stronger result in fiscal 2022.
The state government has shortlisted two consortia, led by local companies Decmil Group and Civmec, for the contract to build a $50 million bridge across the Swan River.
Shares in Decmil have lifted 6 per cent after the Perth company announced its second contract win for the year, for works on a major highway in Queensland.
Perth-based Decmil Group has added $140 million to its order book after securing the works to upgrade a rail line in Victoria, as part of a consortium.
Valmec has won a major asset services contract, while Centurion has secured mine site works in Queensland and Decmil has been named preferred contractor for a Victorian rail project.
Contractor Decmil has posted a $140 million loss for the 2020 financial year, primarily due to the earlier termination of a major contract with the New Zealand prisons department.