Pindan's Singaporean owner wrote a letter to the group last year confirming it would support all Pindan companies to remain solvent until at least October 2021.
The directors of Pindan Group have told staff the company had little choice but to appoint external administrators amid revelations of more than $48 million in losses.
Doubt has been cast over a wave of proposed apartment and hotel developments, with a patchy sales market forcing developers to apply for extensions to planning approvals for hundreds of millions of dollars' worth of projects.
Property developer and builder Pindan has rebranded its funds management arm, OTAN Property Funds Management, which will now be known as Pindan Capital.
Construction of Rosewood Care Group's aged care facility in Leederville will begin next week, after two years of delays, following the award of a $36 million construction contract to Pindan.
Building companies Pindan Constructions and Esslemont Cockram Construction have won new contracts with the state government worth a combined $30 million.
Construction and development group Pindan has won its third major contract in two months, after being awarded a $22 million mine camp deal by Fortescue Metals Group.
BELMONT-BASED construction firm Pindan has responded to a spike in demand for transportable housing by creating a new transportable housing company, Formas Australia.
