Tag Archives: Companies

DNZ Property Fund has increased the occupancy rate in its portfolio of 47 buildings to 99.2 percent. The owner of one of New Zealand’s largest portfolios of investment property said 37 transactions during the three months ended December had greatly reduced its lease expiry risk going forward. The occupancy rate of 99.2 percent as at December 31, 2012 was up …

Mercury Energy, the electricity retailer owned by partial privatisation candidate MightyRiverPower, has announced its first across the board price cuts in a decade. The cuts average 1.4 percent for most of its customers in its home territory, Auckland, and will apply from April 1. The cut is credited to an order by the government’s competition watchdog, the Commerce Commission, to …

Government pension and savings funds collectively own more than 5 percent of 47 companies listed on the NZX and more than 10 percent of 17 companies. The analysis of combined market power of Accident Compensation Compensation, New Zealand Super Fund, Government Superfund and National Provident Fund is disclosed in an annual portfolio report by Treasury’s Crown Ownership Monitoring unit. The …

Market darling Diligent Board Member Services is tidying up the way it grants share options to employees after finding it granted too many options to senior staff and did not provide a prospectus to others. The company, whose board members include former NZX boss Mark Weldon, has embarrassingly had to advise NZX and the Financial Markets Authority of the breaches. …

New Image Group’s chairman Graeme Clegg is moving to take the colostrum-based health tonic maker private, saying a sharemarket listing no longer makes sense for the company. The company has received a notice of a takeover at 26 cents a share from New Image Trustee Ltd, a company controlled by Mr Clegg, who already owns just under 70 percent of …

Vehicle Inspection New Zealand (VINZ) is reiterating its don’t sell notice to shareholders, saying an offer from Jevic New Zealand is opportunistic, how to prevent premature ejaculation Jevic, a company that pre-vets imported used vehicles, has offered to buy all the shares of VINZ at $1.65 each, valuing the target at $4.1 million. VINZ chairman Ken Worsley said a report …

Christchurch software developer Jade Corp is splitting off its fast-growing intelligence-gathering software arm, Wynyard Group, as a separate entity, with Wynyard likely to be considering options for new capital to support growth by late this year. how to save money on electric bill Jade’s managing director since 2009, Craig Richardson, will move to work exclusively at Wynyard, as chief executive, …

The departing boss of Coca-Cola in New Zealand is leaving disappointed that companies are not appreciated for making money but says the country has been a great place to do business and live in. George Adams is moving back to Europe after serving nine years as managing director of Coca-Cola Amatil NZ and Fiji. Irishman Barry O’Connell, who is currently …

Billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings (CKI) is describing New Zealand as a core investment destination after it beefed up its presence with $501 million purchase of EnviroWaste. The biggest user of waste material by mass in Hong Kong is looking to leverage its expertise in materials handling as it expands into waste management, while collecting a steady income …

The price of internet connection to the rest of the world is dropping again as New Zealand’s only international cable owner, Southern Cross Cables, announces a 20 percent cut in its capacity prices. However, critics of the single carrier say it should be cutting its fees much harder to encourage the uptake of fast internet services which government policies have …