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 …