Business News has significantly overhauled the BN30 index, a proxy for the WA economy, with seven new additions, prompted by the exit of takeover targets MMA Offshore, APM and Decmil.
An independent assessment of Singaporean firm Cyan Renewables' $1 billion move for MMA Offshore has deemed the offer fair and reasonable, despite rumoured opposition from a major shareholder.
Mark Beyer and Mark Pownall discuss takeover deals for MMA and APM; hydrogen approvals challenges; payroll tax; WA's gas market; and resource export outlook.
MMA Offshore has secured $30 million worth of work to provide familiarisation services for the Royal Australian Navy on robotic, remote and autonomous marine systems.
Our weekly appointments wrap includes Pilar Kasat, Erica Campbell, Angela Dawson, Matthew Allen, Ian Burrows, Clinton Turner, Scott Hollier, Amanda Hunt, Linda McSherry, Tamsyn Howard and Luke Disbury.
Shares in marine and subsea services provider MMA Offshore have risen more than 8 per cent following the company's announcement of a $68 million contract extension with Japan's Inpex.
MMA Offshore has won several contracts to start the new year including two long-term vessel arrangements as part of ongoing work with Woodside Petroleum.
ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.
Our board moves wrap includes Joel Ives, Guy Robertson, Sue Murphy, Eve Howell, Kevin Small, Patrick Soh, Jessamyn Lyons, Karla Mallon, Andrew Palfreyman, Simon Brealey, and Laurence Roe.
Perth-based industrial services company Vertech Group has added to a string of acquisitions by purchasing a majority stake in APS, doubling annual turnover to more than $120 million.
Oil and gas contractor MMA Offshore has launched an $80 million equity raising to reduce its total debt, while chairman Andrew Edwards has announced his resignation.
Oil and gas service provider MMA Offshore has secured $16 million in contract extensions with Woodside Petroleum, which will continue using MMA's vessels.
Santos is confident a suite of financial measures introduced today will help it withstand the impacts of COVID-19, while MMA Offshore has withdrawn its guidance as the virus crisis hits the energy sector.
A 34 per cent lift in first-half profit at MMA Offshore shows an improving environment for offshore service providers, with the company having won work with Woodside and Esso.
Peter O'Connor will join the board of Boss Resources as non-executive chair, replacing Mark Hohnen who is stepping down from the role having helped transition the company to be a v
Fremantle-based MMA Offshore will acquire Neptune Marine Services in a cash-and-scrip deal worth around $18.5 million, as it seeks to expand its services business.
The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.
Shares in MMA Offshore have fallen today, after the marine logistics company forecast a challenging year ahead as part of its 2018 financial report, which also included a $36.3 million loss.
