Tag Archives: Companies

Precinct Properties New Zealand, formerly AMP NZ Office, has lifted the value of its property portfolio 2.6 percent on a rising Auckland market, and has signed a new and bigger banking facility with existing lenders. The value of the Auckland-based property investor’s portfolio rose $40 million to $1.64 billion and will be confirmed in August with the annual results, the …

The Commerce Commission has launched an investigation into whether Wilson Parking New Zealand’s acquisition of a rival’s parking assets will substantially reduce competition in the market. The regulator is seeking feedback from parties “who consider they have relevant information for the commission’s consideration” as it looks at whether the deal “is likely to have resulted in a substantial lessening competition …

Mercer Group, the stainless steel fabricator, cut its annual earnings forecast after two big equipment sales missed the June financial year, though it’s upbeat about talks to licence its technology to a large multinational company. Earnings before interest, tax, depreciation, and amortisation will be between $2.2 million and $2.5 million in the 12 months ending June 30, the Auckland-based company …

Mykris Ltd, the NZAX listed Malaysian Internet Service Provider announced its Preliminary Financial Results to 31 March 2013. Mr. Chew, Chairman and CEO advised “We have had our first year as a listed company in NZ and it has been a very strong year.” The highlights of the report were total revenue of $8.88 million, EBITDA of $2.63 million and …

Two Degrees Mobile, which has won about a fifth of the country’s mobile phone market, secured a $165 million banking facility with Bank of New Zealand to pay for the construction of its new 4G network by Huawei Technologies. The mobile phone operator reached an agreement with Huawei to deploy its fourth-generation technology network early next year, having worked with …

Elders, the ASX-listed agribusiness company, has rejected an offer from Ruralco Holdings for its rural services business, which includes a half stake in New Zealand’s Elders Rural Holdings. The Australian company put its Rural Services division up for sale last October. Its board reviewed various proposals for both the rural business and its Futuris Automotive unit over the weekend, it …

Tony Timpson, who helped found what’s now the listed carpet maker Cavalier Corp, has died at the age of 80. Timpson built up the carpet maker in 1972 with Grant Biel, only retiring from the board of Cavalier in 2009. As at June 30 last year, he still held about 13 percent of the carpet maker. He was made an …

Ebos Group shareholders approved the company’s $1.1 billion purchase of the Symbion pharmaceutical wholesaler and distributer in Australia. All six resolutions were passed at the meeting in Christchurch, paving the way for Ebos to triple annual sales to more than $6 billion as it looks to become Australasia’s biggest pharmaceutical wholesaler and distributor. “The increased scale and complementary nature of …

Turners & Growers, New Zealand’s largest integrated fruit and vegetable marketer, named its international markets general manager Alastair Hulbert as new chief executive. He replaces Geoff Hipkins, who left the company in March after media reports of a breakdown in his working relationship with the group’s senior management. Hulbert and chief financial officer Harald Hamster-Egerer have led the company in …

Pyne Gould, the asset management firm controlled by George Kerr, says it will return to profit this year on gains from assets sales after an impairment-driven loss in 2012. Profit will be about $30 million in the year ending June 30, from a loss of $47.7 million a year earlier, the Auckland-based company said in a statement. The profit gain …