News Articles for DongYi Hua

Board Moves June 22, 2023

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Our board moves wrap includes Lisa Bevan, Michelle Palethorpe, Geoffrey Xue, Eddy Cheng, DongYi Hua, Matt Szwedzicki, David Pascoe, and Kevin Das.

VDM to close equipment hire business

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VDM Group will focus on its mining, trading and construction units of the group after announcing plans to close its equipment hire and sales business.

VDM names new CEO

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VDM Group shares surged on news the company's chief executive has stepped aside, with former BGC Contracting manager Sam Diep to take the helm.

VDM in $18m loan deal

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VDM Group has finalised terms for an $18 million loan facility with its largest shareholder to fund an investment in a copper project located in the Republic of Angola.

VDM's $18m raising falls through

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VDM Group is expected to seek debt funding from its largest shareholder after a planned $18 million equity capital raising with an unnamed investor fell through.

Big NRW loss caps tough reporting season

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The last day of the profit reporting season delivered a few surprises for Western Australia-based mining services companies, with NRW Holdings incurring a bigger-than-expected loss, VDM Group shrinking at a rapid rate, Swick Mining Services showing some promise, and Resource Development Group staying in the black.

VDM attracts new investor

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Shares in VDM Group were up 125 per cent on news it had attracted a new cornerstone investor for an $18 million capital raising, highlighting the company's planned shift from construction to mining.

Tough times seen in CEO salary cuts

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Salaries for newly-appointed chief executives at WA-listed companies were down by 20 per cent from the levels prevailing last year, research by Business News has found. Click through to see salary packages for 77 WA chief executives.

VDM taps investors, strengthens balance sheet

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Dongyi Hua-led VDM Group is looking to strengthen its balance sheet by signing a share placement agreement with a private investor to raise $3 million.

Stock market slump hits value of directors' shares - SPECIAL REPORT

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The combined wealth of WA's richest public company directors fell by around $3 billion in the past year, but some individuals bucked the trend.

VDM receives $10m from shareholder

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Chinese private investor Australia Kengkong Investments Co could own a 45 per cent stake in Perth-based VDM Group and secure a seat on its board, as part of a $10 million convertible loan agreement announced today.

VDM responds to speculation

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VDM Group has responded to rumours it will acquire mining rights at an Angolan copper project by saying the potential acquisition is incomplete with no certainty on its terms.

VDM taps director for loan

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Engineering contractor VDM Group has announced a capital raising which would lift the combined stake of two of its directors to almost 65 per cent.

VDM announces $18.7m capital raising

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Engineering and construction company VDM Group will look to strengthen its balance sheet through an $18.7 million capital raising, with the company's major shareholder H&H Holdings contributing $9 million to the finance boost.

Pay renegotiation pressure point

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FEATURE: Salaries have come under huge pressure during the past year as widespread cost cutting takes its toll on executives' take-home pay.

VDM warns of insolvency risk

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Struggling engineering contractor VDM Group has unveiled a recapitalisation proposal that involves some of its creditors being paid in shares, and warned the company may be placed in administration if the package does not proceed.

VDM cuts 40 jobs, warns more coming

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Struggling contractor VDM Group has cut 40 jobs and has warned staff to expect more redundancies, as its restructuring efforts shift into top gear.

New VDM boss plans diversification

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Struggling engineering contractor VDM Group has outlined plans to diversify into procurement and mining, after an independent expert ticked off a capital raising that will transfer day-to-day contr

Former CITIC boss takes control of VDM

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Former CITIC Pacific Mining chairman Dongyi Hua has paid $15 million to take a controlling 40 per cent stake in struggling engineering and construction contractor VDM Group.

Uncertain investment environment puts pressure on local and multinational players

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AS the world enters its fifth year of economic turbulence and even the best-insulated businesses in Western Australia are being affected, the factors that determine business influence in this state