Sales activity in the Perth CBD commercial market is gathering pace, as some real estate investment trusts look to sell assets and private investors scour for bargains.
Wesfarmers chief executive Richard Goyder and director James Graham have shown their support for the company’s retail entitlement offer which raised some $1.8 billion.
WESTERN Australia's big private businesses hold surprisingly uniform views on most subjects, and that extends to the federal government's $52 billion in extra spending via two stimulus packages.
OVER the past 20 years or so, there has clearly been a growing, but until now unrecognised, systemic failure of the modern capitalist system, culminating in the US's sup-prime mortgage crash of 2007.
COLES owner Wesfarmers Ltd has completed a retail stock offering, securing commitments totalling $1.8 billion from investors.After scaling back, Wesfarmers says it expects to raise around $1.7 billion
GORDON Martin may preside over one of Western Australia's leading private businesses, but it was his recent experiences in the public sphere that shaped his understanding of the current economic crisis.
Eight mining deals done in Western Australia have featured in the top 250 deals completed globally in 2008 as the value of transactions in the country fell 11 per cent.
Shares in Catalpa Resources have jumped as high as 56 per cent as the company executes a $67.5 million project financing deal with Macquarie Bank and plans to launch a $30 million capital raising.
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Premier Colin Barnett continued talking up Western Australia's economy in the face of further bad global news, but also issued a warning that the state had to be treated fairly by the rest of the nation.
Construction company Boral plans to sell and leaseback 11 of its Australian properties, including a landholding in Bunbury, as part of its ongoing management of its land assets.
The Reserve Bank of Australia has left the official interest rate at 3.25 per cent, bringing a temporary halt to a series of rate cuts by the central bank that started in September last year.
Shares in Albidon have slumped as much as 43 per cent as the nickel miner places its Munali operation on care and maintenance and lays off some 350 employees and contractors.
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Mining services company Emerson Stewart Group has posted a strong first half result, with an interim net profit after tax of $1.5 million, a 125 per cent increase on the previous corresponding period.
Coote Industrial says it is still waiting on a $75 million payment from the sale of locomotives and wagons as it posts a 70 per cent fall in its first half net profit.
Skywest Airlines has booked a near $3 million half year net loss after accounting for one-off impacts including a $5.7 million cost associated with a major Rio Tinto contract.
A strong six months for the project services division has helped to lift engineering firm Lycopodium's half year net profit up 66 per cent to $8 million.
Engineering and infrastructure firm GRD has recorded a 236 per cent jump in full year net profit for its ongoing business, before the shine was taken off after a $58 million hit from the sale of a Sydney asset and other losses.
Perth-based Amcom Telecommunications has benefitted from its major shareholding in internet service provider iiNet as it today boosted its half year net profit by 38 per cent.
Clough says it will ramp up its position in the oil and gas sector after it agreed to sell its majority stake in Indonesian subsidiary PT Petrosea Tbk for $129 million.
