Troubled Perth company Quintis plans to take legal action against its founder and former managing director over claims he has failed to meet repayment obligations on an $11 million loan.
Olive oil, chocolate, avocados, marron and cider are among a number of Western Australian products that are ideal for local industry to target as premium markets, according to a report commissioned by the Department of Agriculture and food released Thursday night.
Grain handling cooperative CBH Group’s partially owned subsidiary, Interflour, has officially opened a new malt production facility in Vietnam, which it said would give Western Australian farmers better access to the Asian nation’s beer market.
Aquacuture firm Atlas Pearls and Perfumes has locked in two debt facility agreements for a total of $3 million, one of which is with its director, Tim Martin.
Embattled sandalwood producer Quintis has once again requested its share trade suspension be extended while it continues to negotiate transactions it says are critical to its solvency.
Quintis has suffered its fourth credit ratings downgrade within a month, after the troubled Indian sandalwood producer on Tuesday revealed more operational and financial issues.
Sandalwood producer Quintis has revealed more operational and financial pain, with the embattled Perth company suspending plantation sales, lowering forecast product sales and admitting a $27 million investment would not proceed.
An upgrade to a meat processing plant at Katanning, a chicken feed mill in Muchea, a new piggery at Moora and a live lobster holding facility in Welshpool are the latest in a string of investments that will boost the agribusiness sector in Western Australia.
Live cattle exporter Wellard has announced the sale of one of its mid-sized ships to Israeli company Dabbah Slaughterhouse for $US26 million ($A35 million).
Global ratings agency S&P has cut its credit rating for Quintis for the second time this month and kept the troubled Indian sandalwood producer on credit watch with negative implications, suggesting another downgrade is possible.
Fremantle-based livestock exporter Wellard has appointed Chinese businessman Kanda Lu as an executive director in an effort to boost the company's expansion into China's beef cattle market.
Western Australian farmers are among the most optimistic in the nation, according to the annual Commonwealth Bank of Australia Agi Insights report to be released today, with 39 per cent likely to be investing in their businesses in the year ahead.