Financial Services

Axiom Properties Ltd director Ben Laurance has increased his interest in the company through a rights issue of 10.4 million shares valued at a total of $832,000.

IT has been a tough past few months for companies looking for extra cash, with the surge in market volatility causing investors to further tighten the purse strings.

THE Breast Cancer Foundation of Western Australia is maintaining its colourful strategy to rally the Perth business community and raise awareness of the foundation's role.

The markets might be rocky but continued Chinese interest is making some wonder about our current foreign investment rules.

RALLIES on global markets last week were a direct result of short covering and some over-exuberance by a few who have not yet lost all their investments or hope.

THERE was something almost surreal about events last Friday when Western Australia lost the country's single largest resources project as the rest of the world trembled over the fallout from the global financial crisis.

HENDERSON-BASED shipbuilder Austal Ltd has cemented its place as Western Australia's largest manufacturing exporter, achieving $383.

THERE have been calls for changes in local government following last week's appointment of administrator, PPB, to Lehman Brothers Australia.

EXPORTERS should remain relatively shielded from any dramatic downturns in the global economy, with the demand from China expected to remain robust.

Perth-based Homeloans Ltd has announced that its managing director Brian Jones will step down, two months before his contract expires, as the group deals with the sub-prime impact on its warehouse funding.

Brisbane-based Norton Gold Fields Ltd will move to acquire the remaining shares in West Perth-based Bellamel Mining Ltd after its friendly takeover offer closed yesterday.

The rescue of BankWest parent, HBOS plc, could be in jeopardy after the value of its shares plunged yesterday, prompting fears that white knight Lloyds TSB could be paying too much for the takeover.

Perth-based IT services provider ASG Group Ltd will expand its presence in the Queensland market with a $3 million acquisition of A-DB Group.

Iron ore miner Territory Resources Ltd has reported a full year net loss of $48.5 million, with over $40 million of that attributed to asset impairments and investments in collapsed Monarch Gold Mining Company Ltd and Matilda Minerals Ltd.

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Mount Gibson Iron Ore Ltd has today confirmed that is not involved in any discussions with any parties concerning a takeover.

Brokerage Hartleys has upgraded its rating for Ausdrill Ltd to Buy after Macmahon Holdings Ltd allowed its takeover bid to lapse.

Lessons learnt from the Asian financial crisis are now cushioning the region from the continuing global fallout overnight from the United States equities quagmire, according to one of South East Asia's most prominent business commentators.

Macmahon Holdings Ltd said it will look at other acquisition opportunities after its takeover bid for Ausdrill Ltd officially closed.

GRD Minproc, a subsidiary of GRD Ltd, has secured the engineering contract for the $5.2 billion Sino iron ore project in Western Australia, currently being developed by Citic Pacific Mining.

United Credit Union's merger with Adelaide-based credit union Community CPS Australia will come into effect at the start of November following shareholder approval.

Australian stocks suffered at the opening of trading on the Australian Securities Exchange, after the US House of Representatives rejected the $US700 billion rescue package.

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Subiaco-based seafood processor Sam's Seafood Holdings Ltd has branched out into the coal sector after agreeing to acquire a company that holds a majority interest in an Indonesian coal project.

Gold company Apex Minerals NL has entered into a subscription agreement with brokerage Goldman Sachs JBWere Pty Ltd to raise over $60 million.

Moly Mines Ltd has executed full financing documentation for the provision of a $US150 million interim debt financing facility with various funds associated with the Trust Company of the West.

The corruption watchdog has suspended the services of Western Australian financial service business Concentric Wealth Management Pty Ltd.

Wesfarmers Ltd has unveiled a new remuneration package for managing director Richard Goyder in a step to better reflect the increased responsibilities stemming from the Coles acquisition.

Gold miner St Barbara Ltd has signed a $20 million agreement with lender GE Commercial Finance to fund ongoing development at its Gwalia mine in Western Australia.

An injunction preventing Cape Lambert Iron Ore Ltd from acquiring a stake in an African iron ore project has been dropped following mediation talks with a disgruntled shareholder.

Emerging Perth-based base metals company Bass Metals Ltd has confirmed a maiden $1.78 million net profit for fiscal 2008 financial, underpinned by strong high-grade production from the Que River operation in Tasmania.

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