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Chorus’ executive in charge of building its tax-payer funded broadband programmes will leave the telecommunications network operator at the end April. General manager of network build Chris Dhyrberg decided to resign from Chorus over Christmas, and will stay on for another three months, the company said in a statement. Dhyrberg has been responsible for the roll-out of the ultra-fast broadband …

“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 …

One of New Zealand’s best-known commercial construction firms, Mainzeal, placed its operating business in receivership as a combination of leaky homes suits and a botched supply chain from China combined to take the company down. sms spy android In a dramatic afternoon on New Zealand’s national day, Waitangi Day, Mainzeal Property and Construction (MPC) was placed in the hands of …

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” …

Equities advanced on both sides of the pond as a deal led by Michael Dell to take Dell private and a potential bid by Liberty Global for Virgin Media underpinned confidence in stock valuations. Shares of Dell rose, last up 0.9 percent to US$13.395, after founder and CEO Michael Dell announced a US$24.4 billion leveraged buyout. The transaction will be …

Prices of dairy products rose in Fonterra’s latest GlobalDairyTrade auction, the first since news emerged last month that small traces of a nitrate inhibitor had been found in some of the company’s milk powder. The GDT-TWI Price Index rose 2.4 percent compared to the last sale two weeks ago, the fourth straight gain. The average winning price rose to US$3,598 …

The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected and said it sees room to cut interest rates if needed as inflation remains low. “With inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is …

South Island mining OceanaGold Corp is refusing to pay for diesel it bought from Z Energy, which charged for the fuel based on a higher cost of the emissions trading scheme than the New Zealand-owned company actually pays. Z’s lawyers agreed in court the company had charged more than it paid for carbon costs under the ETS, but that there …