Financial Services

Emerson Stewart Group Ltd has executed a memorandum of understanding with Bovis Lend Lease Consulting to jointly pursue program and project management opportunities arising through the WA Government's Strategic Projects initiative.

Over the month of June, the market capitalisation of Western Australian listed companies featured in the Deloitte WA Index maintained record highs and performed considerably better than all other major indices.

West Perth based Goldstar Resources NL has appointed Mr Peter Hatfull to its board as a non-executive director.

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North Perth-based Blue Energy Ltd has revealed a number of entities have registered interest in securing a 25.56 per cent parcel of shares controlled by the receiver of Primebroker Securities Ltd, part of the Chimaera Financial Group.

Takeover target Ausdrill Ltd has cast aside its share trading policy, in light of managing director Ron Sayers' recent share spending spree, justifying the move as not applicable during a hostile takeover scenario.

Western Australia has recorded a 10.3 per cent rise in bankruptcy levels over the June quarter while national levels over the past financial year were at their second highest on record.

Prevailing market conditions have prompted nickel miner Minara Resources Ltd to investigate standby banking facilities as it quashed speculation over plans to raise equity.

Newly-listed engineering company Emerson Stewart Group Ltd said it is on track to beat its fiscal 2008 earnings forecast, as outlined in its prospectus, by at least 5 per cent.

Subiaco-based Wolf Minerals Ltd has appointed Ausenco Services Pty Ltd to carry out the feasibility study on its Hemerdon Ball tin and tungsten project in the United Kingdom.

Burswood-based surgery technology company NSL Health Ltd will switch focus to the resources sector later this year after entering into a merger agreement with unlisted company Iron Ore Hill Ltd.

Osborne Park-based Anvil Mining Ltd is set to raise $310 million from a share placement to Israeli mining investor Dan Gertler who, on completion of the raising, will hold 25 per cent of the company.

The state gas crisis is expected to cut Alumina Ltd's underlying earnings by $31 million for the June quarter after the company revised down the impact for the month of June.

Western Australian companies APAC Coal Ltd and Kilgore Oil & Gas Ltd have succumbed to the overall market downturn today, debuting underwater on the Australian Securities Exchange.

GRD Minproc, a subsidiary of GRD Ltd, and GR Engineering Services Pty Ltd have secured study and development contracts with Exco Resources Ltd and Univeral Resources Ltd respectively.

Only one more hurdle remains for the $400 million sale of Cape Lambert Iron Ore Ltd's namesake project to MCC Mining, which today received Chinese government approval.

Western Australia's gas crisis has already cost $2.4 billion in lost turnover and is expected to rise to $6.7 billion as the state's peak business group predicts economic growth will ease this financial year.

Takeover target Midwest Corporation Ltd has issued $19.3 million worth of shares to Morgan Stanley Austrlaia Ltd as payment for advisory services relating to the Sinosteel Corp takeover offer.

Takeover target Ausdrill Ltd has fired back at Macmahon Holdings Ltd's claims that its share price is being propped up by its $400 million bid, saying its bidder had so far managed to secure 0.31 per cent of Ausdrill shares.

It's a curious thing when a company sheds some light onto its commercial dramas - sometimes the problem fixes itself under the glare of the spotlight.

EIGHT months after it bought the site for $70 million, Goodman International Ltd has signed US-based drilling services company, Boart Longyear Ltd, as the anchor tenant for its Stockyards Industrial E

Briefcase would like to take this opportunity to set the scene for the 2009 financial year.

One of Perth's better-known faces of venture capital, Mark Dutton, has moved to establish his own firm with private equity backing pitched at funding the smaller end of the market.

Clough appoints Spence CLOUGH Ltd has appointed former Woodside Petroleum Ltd executive Keith Spence as an independent non-executive director.

For Perth's hotel operators, the current market is something of a mixed blessing.

Engineering company Ausenco Ltd will provide West Perth-based Equinox Minerals Ltd with $8 million in additional costs following a fire at the Lumwana copper project in Zambia.

Construction industry hopes have suffered a blow, with Master Builders Australia's national survey revealing the fourth consecutive fall in builder sentiment in the June quarter.

Perth engineering company Macmahon Holdings Ltd has formed a new Aboriginal contracting business as it decides whether to extend its takeover offer period for Ausdrill Ltd.

Perth-based Bankwest has become the latest bank to lift its standard variable home loan rate, increasing it by 0.2 per cent to 9.55 per cent.

Balkans Gold Ltd plans to raise $3.2 million via a non-renounceable pro rata rights issue to help fund its acquisition of West African Resources Ltd and ongoing exploration programs.

Richfield Group Ltd and PharmAust Ltd have become the latest Western Australian companies to reveal their exposure to the affairs of besieged financial services provider Chimaera Capital Ltd.

Two Western Australian companies have become entangled in the fall-out of Primebroker Securities Ltd, part of the Chimaera Financial Group.