Business

“The announcement that Mainzeal has been placed into receivership has taken many in the construction industry by surprise but should not be considered unexpected given New Zealand’s boom-bust construction market, says Stephen Selwood,” Chief Executive of New Zealand Council for Infrastructure Development. “While Mainzeal is facing its own unique set of circumstances as a company there is no doubt that …

Richard Yan appears to have scuppered plans for a full-scale “New Zealand House” in Shanghai to host NZ’s key government agencies and companies and to showcase NZ products. mobile spy software During newzealandinc.com’s recent research trip to China, informed sources said that Yan had indicated he intended to seek commercial tenants for his Shanghai building after protracted negotiations with NZ …

The independent directors of Mainzeal Group – who also sat as directors on Mainzeal Property and Construction – issued their own formal statement yesterday on the receivership of the subsidiary company stressing the holding company was not in receivership. The statement is worth quoting in verbatim. The  independent Chair of MGL, Dame Jenny Shipley confirmed that, as of midday February 5th …

The country’s third largest construction company collapsed and was placed in receivership today after the Mainzeal Group’s major shareholder, Richina (NZ) LP, refused to commit more capital and the bank pulled its funding. Mainzeal’s sole remaining director Richard Yan – who also heads Richina – said that after  “a series of events that had adversely affected the company’s financial position” …

buy snow leopard online Veritas Investments, the shell company listed on the NZX after Salvus Strategic Investments was wound up, has agreed to buy the Mad Butcher franchisor business in a $40 million cash and scrip deal, and will seek more funding from the public early next year. The NZX-listed firm will pay $20 million in cash and $20 million …

From Tableau Software: Data visualization empowers us all to see and understand the world around us. The following slides will show you 5 powerful, beautiful visualizations that changed how people thought about the world. essay on criticism How did we choose these visualizations? We chose them because they made an impact, they were designed to convey information effectively, and they do …

The Public Sector Pension Investment Board –  one of Canada’s largest pension investment managers – has agreed to buy 30 per cent of  Kaingaroa Forest from Harvard University’s endowment fund. Harvard will retain a 28.75% stake in Kaingaroa Forest after completion of the transaction, which remains subject to regulatory approval and other customary closing conditions. As part of the transaction, …

Restaurant Brands, the fast food operator which recently launched the Carl’s Jr brand in New Zealand, lifted third-quarter sales 0.5 percent as its Pizza Hut stores’ cheap deals came up trumps in a highly competitive market. Total same store sales increased to $72.2 million in the three months ended Dec. 3, from $71.9 million in the same period a year …

GLOBAL MARKETS:  Our London colleagues report that it was a quiet day in Europe . Most of the day’s focus was on the negative Italian headlines.  The weekend’s Italian political bombshell, along with some very weak industrial production data out of France and Italy , weighed on European equities, EUR and Italian sovereign bonds in early trading. However, most markets …

State Owned Enterprises Minister, Tony Ryall, has announced the reappointment of Prue Flacks to the Board of Mighty River Power. Flacks has been an MRP director since May 2010. She is a barrister and solicitor with extensive specialist experience in commercial law, banking and finance and securities law, and a consultant to Russell McVeagh, where she was a partner for …