Mark Beyer

Paladin Resources Ltd has surprised by selecting a South African engineering group to oversee the $A230 million (US$185 million) development of its Kayelekera uranium project in Malawi, rather than Perth firm GRD Minproc Ltd.

The top echelons of industry policy are going through a big change with one of Premier Alan Carpenter’s most senior advisers, Peter Terlick, recently being installed as chief of staff to industry and enterprise minister Francis Logan.

The appointment of a new board and executive team in June 2006 heralded a revival in the fortunes of Western Metals Ltd, which has been ranked as the best performing Western Australian stock last financial year.

Kimberley Diamond Company Ltd was a consistent poor performer in terms of shareholder returns, and it fell last month to a friendly takeover bid by UK company Gem Diamonds Ltd.

High flying mining stocks have topped our survey of shareholder returns, notwithstanding the recent stockmarket volatility.

Amidst the turmoil that has engulfed global stockmarkets, one group of Western Australian investors took an unusual, almost quixotic stand last week.

The sharp fall in share values over the past fortnight has highlighted for many investors the tangible value of companies that pay regular dividends.

Engineering and construction company Monadelphous Group Ltd was one of the top performers in the total shareholder return survey, outperforming every other mature business in Western Australia.

Modular building supplier Nomad Building Solutions Ltd has exceeded prospectus forecasts in its 2006-07 annual results and predicted further strong earnings growth in the current financial year.

The past week has seen a flood of commentary and analysis focusing on the instability in global financial markets and trends in interest rates, with comparatively little attention paid to developments in the real economy.

Tax professionals have cautiously welcomed state government plans to rewrite the Stamp Act, but have warned that many companies owning land could be surprised to find themselves caught in the tax net.

Punters who bought into technology investment company, ST Synergy Ltd, during 2006 will be feeling more than a little disappointed after its stock was suspended and its major subsidiary went into administration.

Coventry Group Ltd has engaged Oracle Corporation to help it complete the roll-out of a troubled computing system, which the company said would contribute to a small loss in the 2006-07 financial year.

Fremantle-based Coastal Business Centre has been selected as one of ten partner organisations for the federal government’s planned Australian Industry Productivity Centres.

Two companies established by academics with close links to the University of Western Australia are among the latest recipients of federal government research and development grants.

Oil and gas producer Santos Ltd and its United States partner Apache Corporation are proceeding with detailed studies of their jointly owned Reindeer gas project, which could provide a major new source of gas for the Western Australian domestic market.

Energy utility Alinta Ltd has delivered a 20 per cent increase in first half profit on the back of a significant rise in revenue, ahead of next week's shareholders' meeting to approve its sale.

Treasurer Eric Ripper has announced major reform proposals for the state tax system that are projected to deliver an extra $80-100 million in revenue, but said the government would adopt offsetting tax cuts so the package was revenue neutral.

One theme emerged strongly when 10 prominent Western Australian business executives attended a WA Business News boardroom forum last week to discuss the future development of Perth – frustration at the slow pace of change.

UWA and the WA Institute of Medical Research Inc have won control of a new $18 million research trust after fighting off a legal challenge by one of the university’s former staff, Dr Bruce Gray, and the company he founded, Sirtex Medical Ltd.

Eight years after being incorporated, four years after listing on the stock market, three years after winning its first contract, and one year after delisting, Perth company AnaeCo Ltd is close to commercialising its innovative waste treatment technology.

The many twists and turns in the takeover battle for diversified mining company Consolidated Minerals Ltd has started to rival the convoluted tussle for control of struggling winemaker Evans & Tate Ltd.

Welshpool-based pharmaceutical company PharmAust Ltd has announced the resignation from its board of managing director Paul D'Sylva and non-executive director Wayne Best, who plan to focus on other executive roles within the group.

Mt Gibson Iron Ltd has overcome environmental objections to the development of its Extension Hill iron ore mine in the Mid West but the decision by Environment Minister David Templeman has left the future of iron ore mining in the region unclear.

The state government has appointed former BHP Billiton Ltd executive Brett Mattes as chairman of its Chemistry Centre, which has been reconstituted as a statutory authority.

An online medical information service that was conceived eight years ago by a Perth doctor and a business entrepreneur has taken a big step towards commercial maturity by raising $2.1 million from investors.

An economic study commissioned by the Australian Building and Construction Commission has concluded that the federal government’s industrial relations policies, and the creation of the ABCC, have led to efficiency gains in the construction industry.

The strong rise in molybdenum prices during the past three years has attracted a growing number of Western Australian mining companies to the rare metal.

Manufacturers and unions have criticised a state government decision to build a $62 million floating dock in Vietnam, saying the move is short-sighted and will make it harder for local industry to win work on big resource and defence projects.

Woodside Petroleum Ltd managing director Don Voelte has firmly put his stamp on the oil and gas producer by pushing through the $12 billion development of its Pluto gas project in record time.

Australian mining executive Mark Cutifani, whose diverse career included a stint running Perth-based Sons of Gwalia Ltd, has been appointed chief executive of one of the world's biggest gold miners, AngoGold Ashanti Ltd.

Engineered lumber company Lignor Ltd is reviewing its funding options, including the possible use of private equity, after failing to meet its own deadline for completion of a $125 million public share offer.