The ‘seachange’ phenomenon and unprecedented growth in recreational boat registrations in Western Australia are being met with increased marina development activity up and down the coast.
When Coles CEO John Fletcher famously told the media that he had barely been in a supermarket for 25 years, it passed largely unnoticed that this could be a problem as he took the helm of Melbourne-based retailers Coles Myer Ltd, as it was then known.
An innovative takeover sweetener for Coles Group Ltd shareholders became all the more important last week when an independent expert’s report revealed Wesfarmers Ltd would effectively secure the retailer on the cheap.
Wesfarmers CEO Richard Goyder has great admiration for retailing executives such as Archie Norman, who was largely responsible for turning around the fortunes of UK supermarket group, Asda, before its sale to American retail giant Wal-Mart in 1999.
More than 850 megawatts of additional generation capacity for the South West Interconnected System is expected to come online by October 2008, with 3 major private energy projects currently under construction scheduled for completion within the next year.
The iron ore sector has been at the forefront of Western Australia’s resources boom and, while industry heavyweights Rio Tinto and BHP Billiton still dominate, new producers are gradually emerging.
While Western Australia is witnessing a boom in mining and resources projects, several major non-mining projects, with a combined value of almost $2 billion, are also in the pipeline.
The oil and gas sector is set to make an increased contribution to WA's strong economy with eight major expansion projects under way, including the state’s single most expensive development, Woodside Petroleum’s $12 billion Pluto gas project.
The state government has copped a lot of flak over cost increases and construction delays on its metropolitan railway expansion project, but its problems are modest compared with some of the largest resource projects being built in Western Australia.
The petroleum and iron ore sectors have grown to dominate Western Australia’s resources industry but there is still plenty of growth happening in other sectors as diverse as molybdenum, vanadium, nickel, gold, copper and zircon.
The state government and iron ore miners in the Mid-West are facing crunch time over the development of new railway and port infrastructure, which is needed if planned mines are to proceed.
The state’s two proposed biofuels projects, both slated for the Kwinana-Rockingham industrial area, are well into their advanced stages, with one due to commence construction later this year.
Western Australia’s skills shortage has prompted a flurry of activity by government and industry, although the state is struggling to find traction on the issue.
A review of Western Australia’s vocational education and training system, undertaken earlier this year by KPMG has called for a redistribution of the Tafe sector’s infrastructure assets and an injection of further capital to improve services.
The federal government’s Australian Technical Colleges continue to attract criticism over claimed low enrolment levels and insufficient graduate numbers, despite strong support from the business sector.
Dale Alcock and Garry Brown-Neaves have ruled out listing their successful building empire following a recently completed 20-year business plan that is designed to steer the group smoothly through their eventual retirements.
Growing Alcock Brown-Neaves Group from two building companies to more than a dozen businesses was a matter of identifying opportunities in the market and going after them as they arose, according to the firm’s managing director, Dale Alcock.
The spectacular rise in Fortescue Metals Group’s share price since chief executive Andrew Forrest took the reins has made the iron ore developer the top performing Western Australian stock over the past five years.
Engineering and construction company Monadelphous Group Ltd was one of the top performers in the total shareholder return survey, outperforming every other mature business in Western Australia.
Uranium stocks Summit Resources Ltd, Deep Yellow Ltd and Paladin Resources Ltd delivered top returns for shareholders over the three years to June 2007.
The appointment of a new board and executive team in June 2006 heralded a revival in the fortunes of Western Metals Ltd, which has been ranked as the best performing Western Australian stock last financial year.
Kimberley Diamond Company Ltd was a consistent poor performer in terms of shareholder returns, and it fell last month to a friendly takeover bid by UK company Gem Diamonds Ltd.
