Financial Services

When it comes to corporate funding for the arts, WASO punches well above its weight.

Western Australia has become unusually dependent on three giant resource sector producers, which account for more than half of the state’s entire exports.

The state government has posted another record surplus, eclipsing its previous record figure by almost 2 per cent to reach $2.3 billion for the 2006-07 financial year.

An open door for further negotiations between local governments and the Federal Department of Transport and Roads on the cost of new security measures has pleased the WA Local Government Association.

Gold Corporation, the WA Government-owned operator of The Perth Mint and 40 per cent owner of the AGR Matthey gold refining joint venture, has announced an after tax profit of $7 million compared to the previous year's result of $4.8 million, it announced

West Perth-based oil and gas explorer Deltana Energy Ltd has opened its initial public offer to raise $16 million, funding a planned exploration program in northern Italy's Po Valley region.

Private Chinese company Shandong Landbridge Group, which announced plans to take a $5.5 million placement in West Perth-based gold and base metals explorer Hannans Reward Ltd in June, has requested a second extension of time.

Perth-based gold explorer CGA Mining Ltd will issue shares worth around $67.4 million through a placement of shares and units to fund the construction of its Masbate gold mine in the Philippines, the company has announced.

CVRD-Inco has completed the second stage of evaluation of the Kalgoorlie Nickel Project, managed in a joint venture with Heron Resources Ltd, the West Perth-based company has announced.

Perth-based minerals explorer Northern Star Resources Ltd will pay $100,000 and issue shares and options to Fraka Investments Pty Ltd, resolving the company's competing claim for mineral rights over the Wilson River Project in the East Kimberley.

West Perth-based Mirabela Nickel Ltd has decided to proceed with its US$263 million (A$300 million) Santa Rita nickel project in Brazil, appointing GRD Minproc to provide engineering, procurement, commissioning and construction consulting services.

Coles chief John Fletcher has handed back $1 million of his $4.57 million paypacket. The Australian Financial Review

BOUTIQUE corporate advisory group, New Holland Capital Pty Ltd, has recruited Investec Bank executive Jason Brewer to run its newly established Perth office.

TSG Key Group's David Simmons and Message Group's Kym Illman are among the winners of this year's Western Region Entrepreneur Of The Year awards, founded and produced by Ernst & Young.

San Francisco-based Franklin Resources Inc has returned to Iluka Resources Ltd's substantial shareholder list.

Australian businesses have seen a gradual improvement in the promptness of business-to-business trade payments over the last quarter, but the average payment period in June is still at around 54 days, keeping the pressure on.

Western Australian health insurance giant HBF has taken a major step in its strategy of offering a wider range of financial services by signing a memorandum of understanding with Bank of Queensland.

Fast-growing cash flow lender Benchmark Debtor Finance has been acquired by two Sydney-based financial institutions, Allco Principal Finance and Balmain NB.

A Pilot program at Western Australia’s dominant health fund, HBF, could soon be competing with local financial advisers if all goes to plan.

The West Coast Eagles boasted a top line-up in the 1990s and several of their players have gone on to business success.

WEST Coast Group has continued its rapid growth with the recruitment of former Mellon State manager Adrienne Hall.

PERTH law firm Steinepreis Paganin worked on more Initial Public Offerings last year than any other law firm in the country, a national survey has found.

WHEN Kerbing West director Brian Kennewell enrolled in Curtin Business School’s growth program, he had more than 20 years of business success behind him.

Dozens of Western Australian small business owners have completed Curtin Business School's growth program. Mark Beyer spoke to two graduates about the lessons they have learned.

OCKERBY Real Estate, one of Western Australia’s largest residential real estate firms, is switching its banking business from BankWest to Challenge Bank.

THE State Government has confirmed that three types of stamp duty will be abolished on January 1.

FORMER Ernst & Young tax partners Dan Fogarty and Ian Crisp have joined forces to establish a specialist tax practice targeting the corporate and resource sectors.

OSBORNE Park-based finance broker Connaught Capital has become Centrepoint Finance after linking up with the national commercial finance group of the same name.

THE latest round of changes to State Government taxes could lead to a significant shift in the way businesses are bought and sold.

THE Federal Government has warned there is just four months until the end of the transition to the Financial Services Reform Act.

MYAREE company Tasman Oil Tools changed its bank last year – a move that makes it an exception among small and medium sized companies.

PLANNED revisions to Australian Stock Exchange listing rules are likely to change capital raising activity and may also affect takeover tactics, a recent seminar in Perth has been told.