changes in directors’ interests for the …...anz job vacancies wa may 12 1,515 -5.1% -11.0%...

INCREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY ACQUIRED PER SHARE ($) COST ($) SECURITIES PER SHARE ($)* VALUE ($)*

Avonlea Minerals Ltd David Riekie 25-Jun-12 214,181 0.031 6,654 5,788,441 0.032 185,230 A

AXG Mining Ltd Alex Bajada 27-Jun-12 400,000 0.004 1,600 13,569,965 0.004 54,280 A

Coal of Africa Ltd Richard Linnell 27-Jun-12 916,575 nil nil 1,704,125 0.580 988,393 F

Coal of Africa Ltd Simon Farrell 27-Jun-12 1,833,150 nil nil 4,704,941 0.580 2,728,866 F

Coal of Africa Ltd John Wallington 27-Jun-12 250,000 nil nil 250,000 0.580 145,000 F

Coal of Africa Ltd Wayne Koonin 27-Jun-12 175,000 nil nil 230,000 0.580 133,400 F

Coal of Africa Ltd Peter Cordin 27-Jun-12 458,300 nil nil 871,059 0.580 505,214 F

Computronics Holdings Ltd John Hansen 28-Jun-12 1,333,333 0.001 1,333 6,000,000 0.030 180,000 B

Continental Coal Ltd Jason Brewer 27-Jun-12 150,000 0.088 13,200 900,000 0.087 78,300 A

Decmil Group Ltd Denis Criddle 28-Jun-12 625,000 1.000 625,000 22,273,232 2.590 57,687,671 C

Echo Resources Ltd Ernst Kohler 20-Jun-12 1,100 0.063 69 14,961,240 0.062 927,597 A

Ferrowest Ltd Brett Manning 28-Jun-12 12,000 0.043 516 3,193,500 0.038 121,353 A

Fortescue Metals Group Ltd Andrew Forrest 27-Jun-12 9,007,731 4.854 43,725,632 1,004,690,915 4.850 4,872,750,938 A

Hannans Reward Ltd Damian Hicks 28-Jun-12 697,741 0.040 28,216 1,000,001 0.040 40,000 A

Hodges Resources Ltd Nathan McMahon 27-Jun-12 149,000 0.160 23,840 8,548,752 0.150 1,282,313 A

Hydrotech International Ltd Michael Hendriks 28-Jun-12 147,696,806 0.001 147,697 147,696,806 0.001 147,697 B

Ipernica Ltd Ross Norgard 25-Jun-12 1,088,500 0.049 53,569 51,484,273 0.045 2,316,792 A

Ipernica Ltd Robert Newman 25-Jun-12 1,088,500 0.049 53,569 1,838,500 0.045 82,733 A

Jindalee Resources Ltd Patricia Farr 20-Jun-12 2,100 0.200 420 225,100 0.210 47,271 A

Jindalee Resources Ltd Patricia Farr 22-Jun-12 3,900 0.200 780 227,000 0.195 44,265 A

Latin Gold Ltd Howard Dawson 28-Jun-12 229,800 0.013 3,088 4,935,800 0.013 64,165 A

Legacy Iron Ore Ltd Sharon Heng 27-Jun-12 1,500,000 0.100 150,000 45,447,603 0.096 4,362,970 B

Mako Hydrocarbons Ltd Simon Owen 26-Jun-12 197,500 0.064 12,700 14,947,500 0.070 1,046,325 A

Matrix Composites & Engineering Ltd Peter Hood 28-Jun-12 50,000 2.100 105,000 130,000 1.745 226,850 I

Mobilarm Ltd David Marshall 27-Jun-12 8,139,074 nil nil 8,139,074 0.041 333,702 G

NeuroDiscovery Ltd Bret Mattes 27-Jun-12 600,000 0.025 15,000 600,000 0.025 15,000 B

Pan Asia Corporation Ltd Luke Martino 26-Jun-12 65,000 0.100 6,500 5,315,000 0.100 531,500 A

RCR Tomlinson Ltd Paul Dalgleish 27-Jun-12 140,990 0.390 54,987 1,140,990 1.740 1,985,323 C

Redstone Resources Ltd David Le Roy 26-Jun-12 66,657 0.126 8,432 782,057 0.125 97,757 A

Rubianna Resources Ltd Terry Smith 27-Jun-12 80,000 0.090 7,200 27,143,133 0.077 2,090,021 A

Rubicon Resources Ltd Ian Macpherson 27-Jun-12 296,871 0.015 4,590 13,796,871 0.015 206,953 A

Silver Swan Group Ltd David Archer 22-Jun-12 82,000 0.040 3,280 1,350,000 0.026 35,100 A

Solco Ltd David Richardson 27-Jun-12 541,940 0.032 17,342 89,712,715 0.038 3,409,083 A

Spitfi re Resources Ltd John Mackenzie 22-Jun-12 20,000 0.070 1,400 700,000 0.070 49,000 A

Sterling Biofuels International Ltd CRS Paragash 27-Jun-12 800,000 0.096 76,701 32,600,000 0.110 3,586,000 H

Swick Mining Services Ltd Kent Swick 22-Jun-12 525,579 0.288 151,146 32,426,881 0.280 9,079,527 A

Tasman Resources Ltd Gregory Howard Solomon 26-Jun-12 50,000 0.097 4,860 31,165,475 0.085 2,649,065 A

Victory West Metals Ltd Wayne Knight 26-Jun-12 50,000 0.054 2,700 225,000 0.043 9,675 A

Yellow Rock Resources Sydney Chesson 27-Jun-12 30,000 0.017 510 6,790,000 0.021 142,590 A

Zeta Petroleum Cameron Manifold 18-Jun-12 112,500 0.150 16,875 112,500 0.135 15,188 A

Zeta Petroleum Stephen West 14-Jun-12 102,500 0.146 15,000 8,186,515 0.150 1,227,977 A

Atlas Iron Ltd David Hannon 28-Jun-12 500,000 1.950 975,000 1,504,668 1.930 2,904,009 A

*day of announcement A On market trade | B Off market trade | C Exercise of options | D Rights issue | E Share purchase plan | F Shares issued to directors as approved at general meeting of shareholders | G Shares issued pursuant to share purchase agreement with MRT | H On-market transaction with Duplex Fame Sdn Bhd, in which both Mr Paragash and executive director Andrew Phang have an interest | I Sub-underwriting of entitlement offer Please direct enquiries to [email protected]

WA Business News www.wabusinessnews.com.au July 5, 2012 | 25

DECREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY DISPOSED PER SHARE ($) REALISED ($) SECURITIES PER SHARE ($)* VALUE ($)*

CHANGES IN DIRECTORS’ INTERESTS | FOR THE RECORD ■

WA SCORECARD Compiled by Warrick Ambrosa, Economist, CCI

Monthly Indicators Period Latest Apr 12 May 11Unemployment Rate WA May 12 3.8% 3.8% 4.3%Seasonally Adjusted Rate Australia May 12 5.1% 5.0% 5.0%

Period Latest Month Year

Employment WA May 12 1,286,200 0.5% 4.0%Seasonally Adjusted Number Australia May 12 11,537,900 0.3% 1.0%ANZ Job Vacancies WA May 12 1,515 -5.1% -11.0%Seasonally Adjusted Number Australia May 12 7,218 -2.0% -17.2%Residential Building Approvals WA Apr 12 950 -46.7% -41.5%Seasonally Adjusted Number Australia Apr 12 10,330 -8.7% -24.1%Retail Turnover, Current Prices WA Apr 12 $2.5Bn -0.2% 9.5%Seasonally Adjusted Value Australia Apr 12 $21.2Bn -0.2% 2.4%New Motor Vehicle Sales WA May 12 10,650 2.9% 23.5%Seasonally Adjusted Number Australia May 12 91,994 2.4% 22.4%Exports WA Apr 12 $10.2Bn 6.5% 5.3%Original value Australia Apr 12 $21.5Bn 2.9% 4.2%Imports WA May 12 $2.92Bn 8.4% 25.2%Original value Australia May 12 $20.73Bn 10.2% 15.3%Australian Dollar Australia 28 Jun 12 US$1.01 2.5% -4.2%All Ordinaries Index Australia 28 Jun 12 4,085.6 -0.8% -9.5%

Quarterly Indicators Period Latest Quarter YearConsumer Price Index Perth Mar 12 155.5 0.2% 1.9%Index, 1989-90 = 100 Australia Mar 12 155.5 0.1% 1.6%Full Time Ordinary Time Earnings WA Mar 12 $1,514.3 -0.5% 4.0%Seasonally Adjusted $ per week Australia Mar 12 $1,346.0 1.1% 4.4%Population WA Dec 11 2,387,232 0.7% 2.9%Original, Number (Millions) Australia Dec 11 22,485,300 0.4% 1.4%Domestic Demand WA Mar 12 $41Bn 7.8% 14.5%Seasonally Adjusted, 2003-04 Prices Australia Mar 12 $326Bn 1.8% 5.0%Business Investment WA Mar 12 $11.9Bn 23.4% 44.3%Seasonally Adjusted, 2003-04 Prices Australia Mar 12 $49.4Bn 5.3% 20.6%Gross Domestic Product WA - - - -Seasonally Adjusted, 2003-04 Prices Australia Mar 12 $325.7Bn 1.3% 4.3%Balance of Payments Goods & services Mar 12 -$3.9Bn -$5.6Bn -$6.9BnSeasonally Adjusted Value Net Income Mar 12 -$11.5Bn -$0.1Bn $1.9Bn

Current Account Mar 12 -$15.6Bn -$5.9Bn -$5.1Bn

Sources: Australian Bureau of Statistics, Reserve Bank of Australia, Yahoo! Finance, Real Estate Institute of Australia, International Monetary Fund, Economic & Social Research Institute of Japan, US Bureau of Economic Analysis, EuroStat.

change during past:

Previous levels

change during past:

Credit growthTHE total value of borrowings in Australia increased by 4 per cent over the year to May 2012. This is up from an annual rate of growth of 3.8 per cent in April and is the strongest rate of growth since April 2009.Housing-related credit eased to 5.1 per cent growth over the year, the slowest growth on record. However, business related credit grew by 3.3 per cent, the strongest growth since April 2009. Investor related credit also picked up, increasing for the third consecutive month in annual terms, rising by 5.3 per cent.Source: Reserve Bank of Australia

Interest ratesAT the close of trade on June 28, the interest rate on 90-day bank bills was 3.52 per cent, down from 4.88 per cent a year previously. Meanwhile, the yield on 10-year Treasury bonds closed at 3 per cent, down from 4.65 per cent a year ago. Six months ago, 90-day bank bills paid 4.43 per cent and 10-year Treasury bonds paid 3.61 per cent.Source: Reserve Bank of Australia

Australian dollarTHE Australian dollar closed trade at $US1.0118 on June 28, representing an increase of 2.5 per cent over the past month. Over the past two weeks, the Australian dollar has held its own against major currencies – floating around parity with the US dollar, 80 euro cents and 80 yen. This is a further reflection of Australia’s new-found status as a safe-haven investment destination, which was further bolstered during the week when the Bank for International Settlements declared Australia’s banking system was the most sound in the developed world. Source: Reserve Bank of Australia

-10%

-5%

0%

5%

10%

15%

20%

25%

-10%

-5%

0%

5%

10%

15%

20%

25%

May 02 May 04 May 06 May 08 May 10 May 12

VALUE OF CREDIT Australia, Annual % Change

Total Housing Business

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Jun 07 Jun 08 Jun 09 Jun 10 Jun 11 Jun 12

AUSTRALIAN INTEREST RATES % Per Annum

90-day bill 10-yr bond Cash Rate

40

50

60

70

80

90

100

110

US$0.40

US$0.50

US$0.60

US$0.70

US$0.80

US$0.90

US$1.00

US$1.10

Jun 07 Jun 08 Jun 09 Jun 10 Jun 11 Jun 12

USD TWI

AUSTRALIAN DOLLAR EXCHANGE RATE USD and Trade Weighted Terms

26 | July 5, 2012 www.wabusinessnews.com.au WA Business News

■ APPOINTMENTS | [email protected]

COMINGS AND GOINGSWebb chairs SEAThe Sustainable Energy Association of Australia has elected Sean Webb as chair, following the retirement of WorleyParsons director of infrastructure and environment Greg Denton from the role. Mr Webb is a business manager and board member of the WA Geothermal Centre of Excellence at UWA. Current board member and Horizon Power executive Kelli Friar has been elected vice-chair.

Yara appoints LoquanChemical company Yara International has appointed Mark Loquan as chief executive of its Pilbara operations. Mr Loquan has spent 20 years at Yara across Trinidad, Africa and Europe. Chief financial officer and interim CEO Rao Narsimha is returning to Singapore as president of Yara’s Asia/Oceanic operations.

Moore Stephens directorsAccounting and advisory firm Moore Stephens Perth has appointed senior managers Clint Bainbridge (above right) and Davide Costanzo (above left) as directors. Previous directors Ennio Tavani and Syd Jenkins will continue on as consultants to the firm.

ABT expands teamBraking technology producer Advanced Braking Technology has promoted Stephen Wilkinson from regional sales manager to global sales and marketing manager. Martin Johnston, who has relocated from the UK, has been appointed as product manager, mining and Jonathan Williams, previously with Sprintex, joins the company as test manager.

Northmore to Gilchrist ConnellGavin Northmore has been appointed as a senior associate in the Perth office of law firm Gilchrist Connell. Mr Northmore previously worked at Greenland Legal and has experience in the areas of property, engineering, construction and recovery.

Warrick joins CurtinRichard Warrick has joined Curtin University’s International Institute of Agri-Food Security, a collaborative research institute between Curtin Business School and the faculties of Health Sciences, Humanities, and Science and Engineering.

Sanders to 3PillarsManagement consultancy 3Pillars Asia Pacific has appointed Guy Sanders as a principal consultant. Mr Sanders has previously held senior positions at HBF Health and ANZ Bank.

Morling to MPAWayne Morling has been appointed as general manager of MPA Skills Training & Apprentice Employment, the key training provider for the plumbing and painting industries in WA.

Mercer to teach at UWAKen Mercer has been appointed as a professor in environmental and mining geomechanics at the University of Western Australia’s Australian Centre for Geomechanics. Dr Mercer has held various mining sector consulting and business management roles, including as divisional manager for Snowden.

AACL HoldingsDirector David Mattiske has resigned. Austal

Non-executive director Ian Campbell has resigned. Automotive Holdings Group

Philip Mirams replaces Ronald Nuich as chief financial officer. Mr Mirams was previously CFO at Water Resources and prior to that, at UGL. Central Petroleum

Non-executive director Andrew Whittle has been appointed as deputy/vice chairman. Eclipse Uranium

Peter Del Fante has been appointed as executive director following the resignation of Mark Fogarty as managing director. Kresta Holdings

Robert Farrar and Nomad Building Solutions chairman Peter Abery have been appointed as non-executive directors. Laconia Resources

Saliba Sassine has been appointed as a director and consultant. Narhex Life Sciences

Director Peter Nash has resigned. Nevada Iron

Non-executive chairman Mick McMullen has been made executive chairman. Noble Mineral Resources

Erik Palmbachs has been appointed as chief financial officer. Nyota Minerals

Norman Ling has been appointed as a non-executive director. Olympus Pacific Minerals

Chief operating officer Klaus Leiders has resigned. Prairie Downs Metals

Non-executive director Alec Pismiris has resigned.

Rift Valley ResourcesDirector Darpan Pindolia has stepped down. TNG

Non-executive director Jianrong Xu has been appointed as chairman. White Star Resources

Rob Klug has been appointed as a non-executive director. Xstate Resources

Director David Whitby has resigned.

Name changeElDore Mining Corporation is now known as Stratos Resources Ltd.

Change of addressAgri EnergyLevel 8, 225 St Georges TerracePerth WA 6000Atlas IronLevel 18, Raine Square300 Murray StreetPerth WA 6000IFS Construction ServicesLevel 1, 63 Hay StreetSubiaco WA 6008Lochard Energy GroupSuites 6&7, 61 Hampden RoadNedlands WA 6009Manas ResourcesLevel 1, Suite 555 Salvado RoadSubiaco WA 6008Nevada IronLower Ground Floor57 Havelock StreetWest Perth WA 6005Papillon ResourcesLevel 9, BGC Centre28 The EsplanadePerth WA 6000

Audit | Tax | Advisory

Shane CrommelinPrincipalBusiness Advisory Services Tel +61 8 9481 1448Mobile +61 421 125 [email protected] 6, 256 St Georges TerracePerth WA 6000

Crowe Horwath welcomes Shane Crommelin to the group.

www.crowehorwath.com.au

We’ve made a new appointment.So should you.

INSIDE

NEWS

LOCAL CONTENTSteel fabricators will get one more chance to win work on the Gorgon project.Page 3

DAIRY DISPUTEConcern grows over the impact of a milk price war in supermarkets.Page 4

SHAM CONTRACTINGCCI disputes need for an inquiry into building industry contracting.Page 5

GROWING ASIAN TIESA new South Korea business chamber adds to WA’s Asian links.Page 8

PROPERTYDoric wins contract for $100m WAIMR building at Nedlands.Page 19

GROWING BUSINESSSodashi was a pioneer in the use of natural skin care treatments.5

ARTS PROFILEDesi Litis and Jade Rubino bring diverse experience to new venture.Page 29

OPINIONWA should follow the NZ lead and deregulate the taxi industry.Page 32

March 10-16, 2011 wabusinessnews.com.au $9.85

WESTERN AUSTRAL I AN

INTERNATIONAL ALLIANCE AWARDS • 2009, SILVER - BEST FRONT PAGE • 2007, GOLD - BEST SPECIAL SECTION DESIGN • 2005 & 2006 BRONZE - BEST NEWSPAPER, SMALL TABLOID, & BEST SCOOP

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eedition.wabusinessnews.com.au

Private investmentNine-page special report on private equity in WA. Page 9

GLYN O’BRIEN– BDO, ENZO GULLOTTI – GCS, JAMES MASSIE-TAYLOR– BDO.

BDO AND GCSA relationship built on solid foundations

“BDO is a natural extension of our team and we have an extremely good relationship. They work closely with us in reviewing and updating our processes and systems and they have provided extensive input into our tax consolidation requirements.”

ENZO GULLOTTI Managing Director, Global Construction Services Ltd

Global Construction Services (GCS) is a listed company that provides products and services to the construction and maintenance industries. Like GCS, BDO understands the importance of innovation and offers tailored solutions that deliver real value.

BDO clients enjoy the best of both worlds – strong personal relationships and the service capabilities of a large international firm.

To experience the kind of service companies like this enjoy contact Glyn O’Brien or James Massie-Taylor on (08) 6382 4600 or visit www.bdo.com.au

Distinctively different – it’s how we see you

NEWS

NEW LNG PROJECT Chevron’s Wheatstone gas project

set for approval.

Page 3

RETAIL TRENDSPop-up shops inject life into city

developments.

Page 4

LAND DEVELOPMENTSatterley kicks off new development

in northern suburbs.

Page 7

AWARD WINNERSAPTS, Alcoa win business and R&D

awards

Page 9

INSIDE

PROPERTYCedar Woods continues to lead the

listed property stocks.

Page 27

MANAGEMENTAngie Spiteri offers advice on making

technology your servant.

Page 32

GROWING BUSINESSGreat Aussie Patios enjoys the

benefits of online marketing.

Page 33

GUSTOTag team at Little Willy’s and The

Dancing Goat.

Page 36






INTERNATIONAL ALLIANCE AWARDS 2009 SILVER BEST FRONT PAGE 2007 GOLD BEST SPECIAL SECTION DESIGN 2005 & 2006 BRONZE BEST NEWSPAPER SMALL TABLOID & BEST SCOOP

September 1-7, 2011 wabusinessnews.com.au $9.85

Our 15-page report on major projects charts the rapid growth of the iron ore sector. Page 12

Full project listing. Page 16

Mining Review


Expanding overseas is a complex exercise – unknown cultures, business landscapes, taxation structures and regulatory regimes can present daunting obstacles. BDO has helped both Australian and African companies conduct successful ventures into unfamiliar territories.

We are the fifth largest audit, tax and advisory firm in the world with 1,082 offices in 110 countries employing 47,000 people. We have 31 offices in 21 countries in Africa and nine throughout Australia.

To find out how we can help make your business in Africa a success, visit us at the Africa Downunder Conference from 31 August to 2 September or contact Peter Toll on +61 8 6382 4600.

STARS ALIGNColin Barnett shines brightly in our 10-page Most Infl uential feature. Page 12

NEWS

RETAIL WOESKitchenware franchise joins the long list of retail casualties.Page 3

BUDGET ANALYSISNot-for-profit sector sees more opportunities after funding boost.Page 7

BUILDING INNOVATIONA start-up Perth business has developed a composite building material.Page 11

INSIDE

PROPERTYGavin Hawkins outlines his strategy

for rebuilding Aspen Group.

Page 22

GROWING BUSINESSRochelle Adonis has big plans for her

patisserie and food brand.

Page 29

COMMUNITY SECTOR303 Group’s Al Taylor has been a

helping hand for arts and music

groups.

Page 31

May 26-June 1, 2011 wabusinessnews.com.au $9.85








“Gearing up now for the Minerals Resource Rent Tax that is due to start July 2012, without legislation and without all issues resolved, means that relevant mining companies are working in the dark as they prepare themselves for this tax. How can we ensure the right thing is done when the level of uncertainty is so high?”

* Source: BDO 2011 Tax Reform Survey (interim results).

MRRT Making Rules Right for Tax

Do you agree?Have your say at www.bdo.com.au/taxreform.

JOHN MURRAYBDO Partner, Corporate & International Tax

PROFILEMalcolm McCusker on the law, philanthropy and his future.Page 33

NEWS

LOCAL CONTENTHertel Modern’s Gorgon win helps

assuage content concerns.

Page 4

MEDICAL RESEARCHPeter Klinken talks of WAIMR’s

coming of age.

Page 6

MODULAR BUILDINGMore players, more opportunities in

prefabricated transportable housing.

Page 8

HIGHWAY OF OPPORTUNITYRoadhouses are big money spinners,

but they are not for the faint-hearted.

Page 12

INSIDE

PROPERTYTony Morgan tipped to lead redevelopment authority.Page 26

GROWING BUSINESSMedic Technology International’s owners reflect on their healing

process.Page 33

ARTS SECTORSurfilm Festival drops in on Yallingup.Page 35

PROFILEChef David Coomer is spending a lot less time in the kitchen.Page 37

INTERNATIONAL ALLIANCE AWARDS • 2009, SILVER - BEST FRONT PAGE • 2007, GOLD - BEST SPECIAL SECTION DESIGN • 2005 & 2006 BRONZE - BEST NEWSPAPER, SMALL TABLOID, & BEST SCOOPINTERNATIONAL ALLIANCE AWARDS • 2009 SILVER BEST FRONT PAGE • 2007 GOLD BEST SPECIAL SECTION DESIGN • 2005 & 2006 BRONZE BEST NEWSPAPER SMALL TABLOID & BEST SCOOP

December 1-7, 2011 wabusinessnews.com.au $9.85

CEO salary surveyIncomes are still rising at the top end of town. Page 14Which bosses are the most overpaid? Page 16What new chiefs are getting. Page 18



GET DAILYSINESS UPDATES!BUwabusinessnews.com.auwww.w

With ambitious growth plans, an Australian mining company needed to see its vision of new rail, port and mine assets become a reality. Our Mining team brought a fresh approach and different perspectives to their ideas to ensure that funds were being used in the most effective way. We worked together to revise and re-draw the plan, which meant valuable construction cost savings of over 25 per cent. The new plan also helped the company to achieve their growth objectives more quickly. And with the prospect of creating more jobs as the business grows — which will help support the local economy — it’s proof that when digging deep, real value is uncovered.

© 2011 PricewaterhouseCoopers. All rights reserved.

Discover how we can create value together at creatingvalue.com.au

What’s the value of changing plans?

INSIDE

NEWS

GOING PRIVATEPPP in water sector set to be followed by more.Page 3

BANKING BATTLEThe major banks are fighting each other for business customers.Page 4

STOKES’ MEDIA PLAYKerry Stokes’ latest corporate play warrants very close scrutiny.Page 6

AVIATION DOGFIGHTThe Gascoyne region is

unhappy about new aviation services.Page 9

PROPERTYThe struggle for control of Aspen Group is heating up.

Page 10

SOCIAL BUSINESSRon Cacioppe says many successful businesses look at

more than profit.Page 36

COMMUNITY SECTORClontarf has gained backing for new accommodation facilities.Page 39

THE LOW DOWNA small coffee bar in the city is creating a buzz on chat forums.Page 40

February 24-March 2, 2011 wabusinessnews.com.au $9.85





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Flair forbusiness

IINS

NEWS

GOING PRIVPPP in water sefollowed by morPage 3

BANKING BAThe major banksother for businePage 4

STOKES’ MEKerry Stokes’ latwarrants very clPage 6

AVIATIOThe Ga

unhaaviaPa

PROThe stAspen

Page 1

SOCIALRon Caciosuccessful

more than profPage 36

COMMUNITYClontarf has gaiaccommodationPage 39

THE LOW DOA small coffee bcreating a buzz Page 40

011 wabusinessnews.com.au

W ESTERN AUSTRAL I AN

DS • 2009, SILVER - BEST FRONT PAGE • 2007, GOLD - BEST SPECIAL SECTION DESIGN • 2005 & 2006 BRONZE - BEST NEWSPAPER, S

GEBUSINES

www.wabusi

SMALL TABLOID, &

dition.wan.wn.wan.wwn wnn.wan.w

2011

Zhenya Tsvetnenko tops the 2011 40under40 Awards. Page 15

BRAD MCVEIGH – BDO, MICHAEL BOWD – Silver Chain, JEEVA MAISTRY – BDO.

ROIRelationships Of Integrity

“We can really have complex conversations, they understand our business and our relationship has allowed BDO to identify risks and provide appropriate recommendations.”

MICHAEL BOWD General Manager Finance, Silver Chain

For over 105 years Silver Chain has been designing and delivering innovative community-based care solutions. BDO shares Silver Chain’s search for excellence and is delighted to work closely with this respected community-based organisation.


To experience the kind of service companies like this enjoy contact Jeeva Maistry or Brad McVeigh on (08) 6382 4600 or visit www.bdo.com.au





ET DAILYESS UPDATES!sinessnews.com.au


August 4-10, 2011 wabusinessnews.com.au $9.85

NEWS

VALUE ADDINGGalaxy Resources aims to go into

lithium battery making in China.

Page 3

MEDICAL MOVERMichael Henderson’s efforts to get

doctors to disasters recognised.

Page 4

CLEAN POWERWA closes in on its 2020 target for

renewable energy

Page 5

TECH INVESTMENTZhenya Tsvetnenko takes a stake in

China-focused SmartTrans.

Page 9

INSIDE

PROPERTYArchitect Mark Mitcheson-Low says Perth can benefit from being a hub.Page 19

ARTS Rio Tinto iron ore boss Sam Walsh on his passion for the arts.Page 27

GUSTO How East Riverside in Ascot

deals with being part of a hotel.Page 28

PROFILEPCYC president

Sue Gordon has a long-standing relationship

with the police.Page 29

SHERIF ANDRAWES, CAITRIONA CALLAGHAN, SIMON COOK – BDO.

SELLING YOUR BUSINESS?At BDO, we know that selling your business is more than just a financial transaction. After all, your business embodies all the efforts and risks you have undertaken as an owner.

So it would make sense to have experienced professional advisers assisting you through the sale while you concentrate on running the business. Our Sale of Business team (pictured) will work closely with you to support you through this process and help you achieve the best outcomes for the sale.


For an invitation to our upcoming seminar on preparing your business for sale and to experience the kind of service our clients enjoy, contact Simon Cook on (08) 6382 4600 or visit www.bdo.com.au.


GBUSINE

www.wabus

NEWS

VALUE ADDGalaxy Resourc

lithium battery

Page 3

MEDICAL MMichael Hende

doctors to disa

Page 4

CLEAN POWWA closes in o

renewable ene

Page 5

TECH INVESZhenya Tsvetne

China-focused

Page 9

INSIDE

PROPERTYArchitect Mark Perth can benePage 19

ARTSRio Tinto iron oon his passion Page 27

GUSTO How East

deals whotePa

PRPC

Sue long-s

with thePage 2

WA’s top stocksOur annual shareholder return survey reveals the best companies. Page 10

NEWS

UNDER ATTACKConcern over policy measures hitting

independent contractors.

Page 3

UNIVERSITY INCOMESAnnual reports reveal who’s doing

well at university.

Page 5

ENERGY REVIEWOld industry divisions remain over

energy policy.

Page 6

UNHEALTHY LAWYERSIs time-billing a health risk for

lawyers?

Page 12

INSIDE

PROPERTYWhitford City a test of WA’s new

urban centres policy.

Page 14

GROWING BUSINESSHomestyle Salads keeps growing

through generational change.

Page 25

GUSTOMooba builds its market through

social media.

Page 28

PROFILERussell Scrimshaw reflects on his

time at FMG.

Page 29

May 19-25, 2011 wabusinessnews.com.au $9.85

WES TER N AUS TR AL I AN






Stepping on the gasThree mega LNG projects tipped to proceed this year. Page 8


“90% of businesses* believe state taxes such as payroll tax and stamp duty make doing business in Australia complex and expensive. They are looking for real reform on the number of taxes they face.”

* Source: BDO 2011 Tax Reform Survey (interim results).

PAYG Positive Actions Yield Growth

Do you agree?Have your say at www.bdo.com.au/taxreform.

RUSSELL GARVEYBDO Partner, Corporate & International Tax

ve. ”

sults).

NEWS

WA ECONOMYChristian Porter says talk of a two-

speed economy is simplistic.

Page 3

SPORTING BUSINESSAndrew Vlahov is using sport to build

an events business.

Page 4

BETHESDA HOSPITALNeale Fong in talks with government

over finance for private hospital.

Page 5

NICKEL PROSPECTSPaul Garvey talks to WA’s nickel

miners about their future.

Page 16

INSIDE

PROPERTYSuper fund ARIA tipped as buyer of

QV1 office tower.

Page 19

MANAGEMENTJeffrey Gitomer reflects on Steve

Jobs’ immense legacy.

Page 26

GUSTORunning a successful fish ‘n’ chips

business isn’t what it used to be.

Page 27

PROFILEGeoff Totterdell has a new role

developing the Peel region.

Page 29






WA exports have grown to 46 per cent of the national total. Page 10

Export boomOctober 20-26, 2011 wabusinessnews.com.au $9.85

With our proven capabilities in servicing over 130 Western Australian based ASX listed companies, you can rest assured that BDO’s local Audit team will be able to meet and exceed your business’ audit and assurance needs.

All of our growing team of 90 staff are highly skilled and experienced in meeting the demands of an evolving corporate landscape. With our consistent and dedicated approach to achieving timely commercial solutions and competitive pricing, you can rely on us to deliver successful outcomes for your organisation.


To experience the kind of service our clients enjoy, contact one of our Audit Partners (pictured) - Brad McVeigh, Peter Toll, Glyn O’Brien, Phillip Murdoch or Chris Burton on +61 8 6382 4600 or visit www.bdo.com.au.


WA exports have grown to 46 per cent of the national total. Page 10

Export boom

NEWS

BUILDERS’ RED TAPEBuilders doubt benefits of new

certification system.

Page 3

OAKAJEE SAGAMore twists in the Mid West port

development.

Page 4

CONTRACTORS’ BATTLEConcern over new rules for

independent contractors.

Page 10

GRAIN TRANSPORTACCC ruling to shake up CBH

Group’s operations.

Page 12

INSIDE

PROPERTYPeet partners with the Future

Fund.

Page 23

MANAGEMENTRon Matthews cautions against

bad days.

Page 28

GROWING BUSINESSGuys Grooming seems to have

found a growth market.

Page 29

PROFILECaroline Robinson is keen to

promote agriculture.

Page 33

July 7-13, 2011 wabusinessnews.com.au $9.85






Corporate financeWhich advisory fi rm leads this year’s M&A survey? Page 14


NAME + FOCUS = STRATEGYShaw River Manganese Ltd – The Manganese Company

Building a Global Manganese BusinessShaw River Manganese Ltd 33 Ventnor Avenue, West Perth, Western Australia 6005T +61 8 9226 4455 | F: +61 8 9226 4255 | E [email protected] www.shawriver.com.au ASX: SRR CH

AM93

0-5

SHAW

NEWS

IRON ORE OUTLOOKMiners look beyond rapid growth

phase over next four years.

Page 3

REGULATORY BATTLEGas infrastructure owners at odds

with WA’s energy regulator.

Page 6

THE NEW GOVERNORMalcolm McCusker to continue

philanthropic focus in new role.

Page 7

PRETZEL CRACKS OIL MARKETInternet pioneer Steve Pretzel has

built an innovative oil & gas service.

Page 10

AUSTAL’S NEW BOSSNew CEO Andrew Bellamy focuses

on defence opportunities.

Page 12

INSIDE

PROPERTYCockburn coast boost with power

station development.

Page 24

MANAGEMENTSarah Newton-Palmer discusses the

value of emotional intelligence.

Page 28

PROFILESteve Harris on branding, football

and the digital future

Page 33

March 24-30, 2011 wabusinessnews.com.au $9.85







$9.85



State developmentNine-page report on WA infrastructure and the contractors winning the work. Page 14

SHERIF ANDRAWES – BDO, JEEVA MAISTRY – BDO, GAIL CAMPBELL – STRAITS RESOURCES LTD.

BDO. A great resource for Straits.

“ BDO is commercially astute and practical in their approach. They add value through local expertise and prompt service. They continually assist us in minimising our business risks and maximising our opportunities.”

GAIL CAMPBELL Chief Financial Officer, Straits Resources Limited

Straits is a mining and exploration company focused on copper and gold in Australia and Asia. Straits aims to build a sustainable earnings platform through its existing metals business and pursuing growth opportunities. BDO shares Straits’ vision of building value and growth through highly personal business relationships.


To experience the kind of service companies like this enjoy, contact Sherif Andrawes or Jeeva Maistry on (08) 6382 4600 or visit www.bdo.com.au


NEWS

OAKAJEE ROADBLOCKColin Barnett says the Oakajee

project needs to cut costs.

Page 3

LNG COMPETITIONDarwin chasing work as oil & gas

supply base.

Page 5

COST OF DOING BUSINESSA CCI-WABN study analyses the cost

of red tape.

Page 7

BACK TO WORKA 40under40 award winner returns

to her old cake business.

Page 10

INSIDE

PROPERTYPerth property owners starting to get

realistic about price.

Page 22

MANAGEMENTVerne Harnish offers 5 tips to

improve marketing.

Page 28

COMMUNITY SECTORHelen Sewell talks about her work

with Redkite.

Page 31

GUSTORustico Tapas & Bar enlivens the

Rockingham market.

Page 32




LYPDATES!ews.com.au

ST SCOOP

September 22-28, 2011 wabusinessnews.com.au $9.85

NEWS

OAKAJEE ROADBLColin Barnett says the

project needs to cut co

Page 3

LNG COMPETITIODarwin chasing work as

supply base.

Page 5

COST OF DOING BA CCI-WABN study ana

of red tape.

Page 7

BACK TO WORKA 40under40 award wi

to her old cake busines

Page 10

INSIDE

PROPERTYPerth property owners s

realistic about price.

Page 22

MANAGEMENTVerne Harnish offers 5

improve marketing.

Page 28

COMMUNITY SECHelen Sewell talks abo

with Redkite.

Page 31

GUSTORustico Tapas & Bar en

Rockingham market.

Page 32

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Our dedicated team can assist you in making strategic business decisions through financial modeling and specialist transaction advice, commercially sound valuations, due diligence, effective merger and acquisition support.

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For an invitation to our upcoming seminar on business acquisitions and to experience the kind of service our clients enjoy, contact Adam Myers, Sherif Andrawes or Simon Cook on (08) 6382 4600 or visit www.bdo.com.au.


Property Review

Major Projects:Oil & Gas

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40under40 Awards

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INSIDE

HOSPITAL BATTLEMultiplex and John Holland join rival bidders for new hospital.Page 3

LIQUOR LICENCINGThere is a pattern behind successful liquor licensing applications.Page 9

CRUNCH TIME AT OAKAJEE This month is crunch time for the $4bn Oakajee port project.Page 10

BUILDING ON ITS ASSETSAfter 25 years in business, Emco knows a thing or two about the building and construction game. Page 14

INSIDE

MEN BEHAVING BADLYAlpha males in the workplace need to be managed carefully.Page 28

TRAVELLING SOLOAnnette Porter offers a niche travel service for those going it alone. Page 29

PUBLIC WANTS OPENNESSShirley Cowcher discusses the need for accountability in politics. Page 36

RINEHART WEALTH ON VIEW Mark Pownall says Gina Rinehart’s story shows getting rich is tougher than most people think.Page 39

Builders chase government work as private projects slow.

Page 16

What’s next?

GLYN O’BRIEN– BDO, ENZO GULLOTTI – GCS, JAMES MASSIE-TAYLOR– BDO.

BDO AND GCSA relationship built on solid foundations

Global Construction Services (GCS) is a listed company that provides products and services to the construction and maintenance industries including scaffolding, formwork, general plant hire and labour.Like GCS, BDO understands the importance of innovation. Thanks to our innovative and highly personal business relationship with GCS, we are able to offer tailored solutions that deliver real value.“BDO is a natural extension of our team and we have an extremely good relationship. They work closely with us in reviewing and updating our processes and systems and they have provided extensive input into our tax consolidation requirements.”ENZO GULLOTTI Managing Director, Global Construction Services Ltd

BDO clients enjoy the best of both worlds – strong personal relationships and the service capabilities of a large international firm.To experience the kind of service companies like this enjoy contact Glyn O’Brien or James Massie-Taylor on (08) 6382 4600 or visit www.bdo.com.au


helping business growTo know, 9288 2100.

Have you gotthe full story?


| FOR THE RECORD ■

FACT FILE Compiled by Dan Wilkie

Continued page 28

BUYING IN: Engineering and construction group Monadelphous has taken an equity position in its waste processing joint venture partner, Anaeco. Photo: Grant Currall

Sevag Chalabian and Vince Fayad has resigned as directors, while Anthony Roberts will continue in his role as executive director of Global.Also today, Global announced that Exchange Minerals, had agreed to capitalise a EUR1.2 million loan provided to a Global subsidiary in return for 22 million Global shares.By close of trade today, Global shares had rocketed on the Australian Securities Exchange, up 60 per cent at 8 cents.The company is seeking to develop the Wolfsberg lithium project, in Austria.

AHG covers $6m shortfall in syndicate sale02-July-2012 by By Shanna CrispinPerth-based Automotive Holdings Group has sold five dealership sites to officially create its property syndicate; but will invest $6 million itself to finalise the sale.AHG and Australian Property Investments announced plans in February to form the $66 million syndicate AHG Property Syndicate No 1.Final establishment of the syndicate depended on API raising funds to buy five AHG dealership sites for $47 million. The properties are the new and used Challenger Ford dealerships in Rockingham, Rockingham Hyundai and Suzuki, Midway Ford in Midland, and a dealership in Castle Hill in New South Wales.AHG has announced the sale has been completed, but it is to invest a final $6 million which API failed to raise.AHG managing director Bronte Howson said API had “achieved considerable success” in attracting “sophisticated and wholesale investors”, but a further $6 million was required to close the offer.“Property development is not AHG’s core focus, and the sale and leaseback allows us to release the value of the properties and future development costs to assist in funding future growth,” Mr Howson said.“In that context investing $6 million in the trust to complete the transaction was an easy decision.” AHG says the syndicate is the first of its size to focus exclusively on

Australian automotive properties.Of the total $47 million transacted, $19 million will be used to develop future car dealerships, including two in New South Wales.AHG will lease back the sold sites on 15 year lease terms with two ten-year options.

Rubik to acquire Macquarie’s COIN02-July-2012 by Dan WilkieRubik Financial has announced an agreement with Macquarie Group to acquire the COIN Software financial planning business for $23.75 million.The acquisition expands Rubik’s financial planning capacity to include software, while Macquarie will continue to service the majority of COIN’s clients under a licencing agreement.Rubik chairman Craig Coleman said the firm had been assessing acquisition opportunities for some time.“COIN is an industry leader in financial planning software for financial institutions in Australia due to its client base, breadth of product, dedication to support and innovation,” Mr Coleman said.“We expect that as a result of this acquisition we will be able to expand our overall offering and allow us to leverage our strengths in mobile and internet into COIN’s financial planning software offerings.“Our initial focus will be on delivering already committed product development programs and preparing our products for changes that flow from the Future of Financial Advice reforms.“Beyond this, we will review technology opportunities based on customer feedback and market opportunity, whilst ensuring ongoing support to clients.”

Sundance extends deadline for Hanlong takeover29-June-2012 by Staff reporterSundance Resource has extended the deadline for China’s regulatory watchdog to approve Hanlong Mining’s proposed $1.7 billion takeover bid.A one-month extension was requested by China’s National

Development and Reform Commission to allow it more time to review key terms of the Mbalam iron ore project agreement between Sundance, Hanlong and the Cameroon government; the increase in resources at Mbalam; and Australian regulatory approval of the tie-up.Sundance chairman George Jones said there was a substantial amount of new information for NDRC to review after significant progress was made on the Mbalam development.“This progress, while delaying provisional approval from NDRC, means we are significantly closer to completing the SIA in November as planned,” Mr Jones said in a statement.Hanlong chairman Liu Han said discussions with the NDRC had been productive and was confident the company would achieve the required approvals.

Forrest buys $40m more FMG shares27-June-2012 by Staff reporterFortescue Metals Group chairman Andrew Forrest has purchased another $43 million worth of shares in the iron ore miner, taking his total spend on FMG stock this week over $100 million.FMG announced today Mr Forrest had bought nine million shares for $43.7 million, following his purchase of $62 million in stock earlier this week.The transactions are understood to be Mr Forrest’s attempts to breathe life into FMG’s flagging share price, which has fallen by 19 per cent over the last three months.Mr Forrest now holds more than 1 billion shares in the iron ore miner, his stake estimated to be worth around $4.9 billion.

Matsa sells stake in Mt Henry to Panoramic27-June-2012 by Dan WilkieGold hopeful Matsa Resources has inked a deal with Panoramic Resources that it says puts it on track to transition from explorer to producer in the near-term.Matsa announced yesterday it had sold a 70 per cent stake in its Mt Henry gold project near Norseman

Capital RaisingsSouth Boulder to raise $9.5m for Colluli26-June-2012 by Edited announcementSouth Boulder Mines has announced a plan to raise $9.5 million from North American investors to fund the development of its Colluli potash project in Eritrea.The placement, priced at 95 cents a share, is being managed by US-based Sprott Private Wealth.Sprott has committed to placing 5.26 million shares with investors, while 4.74 million shares will be issued to private equity group Meridian Capital International Fund.South Boulder said the funds would be used to complete a definitive feasibility study for Colluli, commence early access works and provide working capital.The DFS is on track to be completed next year, with first production targeted for no later than 2016, the company said.South Boulder Mines shares plunged on the Australian Securities Exchange today, closing trade down 13 per cent at 87 cents.

Mergers and AcquisitionsMonadelphous takes equity in joint venture partner02-July-2012 by Staff reporterEngineering and construction contractor Monadelphous has taken a 10 per cent stake in a joint venture partner, waste management services company Anaeco.In a deal announced today, Anaeco will issue Monadelphous with 44 million shares, priced at 4.8 cents each as payment for approximately $2 million in development costs incurred in the two companies’ joint venture arrangement.Anaeco and Monadelphous are expanding a waste treatment plant in Shenton Park, using Anaeco’s DiCOM technology, for the Western Metropolitan Regional Council.The expansion is expected to be completed by the end of September.Anaeco managing director Patrick Kedemos said the company was pleased to have Monadelphous on board as a significant shareholder.“I welcome its significant contribution to the WMRC project’s success, both from a construction standpoint and in becoming a cornerstone investor in Anaeco,” Mr Kedemos said.“We are already partners though the design and construct JV, and this equity position binds the relationship as we work to finish the project as well as collaborate towards tackling future projects together.“It is a privilege to expand our integration with a company that enjoys such a well-deserved reputation.”

Cape Lambert takes stake in Global Strategic Metals02-July-2012 by Staff reporterTony Sage’s Cape Lambert Resources has become lithium miner Global Strategic Metals’ cornerstone investor, subscribing for a 19.8 per cent interest in the Perth-based exploration company.Global announced today that Cape Lambert had purchased just over 28 million shares at an issue price of 7 cents, as well as 5.6 million free attaching options, also priced at 7 cents each.As part of the transaction, Tony Sage has been appointed non-executive chairman, with Benjamin Hill and Declan Kelly also joining the Global board as non-executive directors.

to Panoramic, for $5 million in cash plus a 5.5 per cent stake in Panoramic.The sale and purchase agreement will see Panoramic subsidiary Mt Henry Gold commence a bankable feasibility study for the project, and includes a $6.5 million buyout arrangement with a $5 million royalty safety net should Matsa not participate further.The agreement will also see a joint venture established to explore for further gold mineralisation in the Mt Henry area.Executive chairman Paul Poli said Matsa had received a deposit of $1.5 million from Panoramic, and all agreements were unconditional, pending regulatory and shareholder approval.“This exciting development will enable Matsa to remain part of the Mt Henry gold project, whilst simultaneously providing it with substantial cash and liquid assets,” Mr Poli said in a statement.“This in turn provides significant real and immediate value for all Matsa shareholders as well as providing longevity and a bright future for the company.“Simply, it puts us on the map as a near-term potential gold producer.”Matsa has been looking to offload a stake in Mt Henry for the past two years.Mr Poli said the project had generated a great deal of interest from numerous Chinese and Australian investors, but a favourable deal had not been reached until now.“That’s why we decided to patiently continue negotiations and we have been rewarded by completing a transaction with a company of the quality and ilk of Panoramic Resources,” he said.

Contracts and DealsVDM wins $27m in new contracts27-June-2012 by Dan WilkieVDM Group has announced $27 million in new contracts, including a $17 million deal with Rio Tinto and $10 million in work with Western Power and CBH Group.For Rio Tinto, VDM will design and construct a plant maintenance workshop, heavy vehicle refuelling facility and additions to the existing work camp for the Brockman 4 mine in the Pilbara.The contract will have a peak workforce of around 80 people, and is due to commence in late July.Also today, VDM said its Western Operations had been awarded a number of bulk earthworks jobs for residential subdivisions, as well as contracts from Western Power and CBH.The recent contract wins take the company’s work in hand to more than $170 million.VDM downgraded its earnings guidance for the second half of this financial year last week, after taking a near-$5 million write-down on one of its projects.Patersons Securities analyst David Gibson said while the downgrade was disappointing, the broker maintained a speculative buy recommendation as it believed it was an isolated case.

Austal signs sales and support deal with Kelvin Hughes26-June-2012 by Dan WilkiePerth-based shipbuilder Austal has inked a deal with global marine navigations systems developer Kelvin Hughes to sell and support its technology in Australia and New Zealand.


FACT FILE

Kelvin Hughes’ key products include solid state radar sensors, low profile antennas, display and tracker technology, voyage data recorders and electronic chart displays.Under the agreement announced today, Austal will sell and support Kelvin Hughes’ naval and marine products, including its transceivers and display systems.Austal has provided systems mainte-nance, repair and integration services for Kelvin Hughes since 1993.“We have developed a unique relationship with Kelvin Hughes over many years which we have now strengthened to best support our shared customer base,” Austal chief executive Andrew Bellamy said.“We believe this agreement will provide enhanced value to these customers in terms of cost, expertise and operational efficiency.”Mr Bellamy said the deal demonstrated Austal’s ability to leverage its in-house capabilities and market position to expand its business.

Downer to build $175m Mid West power line28-June-2012 by Dan WilkieDowner EDI has won a $175 million Western Power contract to construct a major transmission line from Perth’s northern suburbs to Eneabba in the Mid West.The 190 kilometre line is a critical component of Western Power’s $443 million Mid West Energy Project, which is seen as crucial for the development of several new mining projects in the region.“The project will also ultimately result in a more reliable and secure electricity supply for the Mid West region and Western Power’s customers,” acting chief executive Paul Italiano said.The Pinjar to Eneabba line will connect to a 70km transmission line built by Gindalbie subsidiary Karara mining between Eneabba

and Three Springs.Under an agreement announced in April, Western Power will buy back the 70km line from Karara for $86 million.Iron ore developments in the region expected to benefit from the Mid West Energy Project include the Karara mine, Asia Iron’s Extension Hill project, and Crosslands Resources’ Jack Hills mine.“There are significant investments in infrastructure in the Mid West,” Mr Italiano said.“Over the two-year construction period a workforce of around 300 workers will also bring an added economic benefit to the region.”

Brookfield to build 2,000 worker camp at Roy Hill27-June-2012 by Dan WilkieBrookfield Multiplex’s engineering and infrastructure division has won a $190 million contract to build an accommodation village at Hancock Prospecting’s Roy Hill iron ore mine in the Pilbara.The contract has a duration of 15 months, and will see Brookfield construct onsite accommodation for 2,000 construction and mine workers at Roy Hill, creating around 200 jobs.Facilities at the state-of-the-art camp will include a sports complex, swimming pool, auditorium and shift change facilities.Brookfield Multiplex Engineering and Infrastructure regional managing director Rainer Rasmussen said the company looked forward to working with the Roy Hill team.“Leveraging our significant experience in construction, Brookfield Multiplex will collaborate with the client’s project team to construct high-quality facilities which are aesthetically pleasing but also promote an integrated community lifestyle,” Mr Rasmussen said.“Roy Hill represents the new high-technology face of mining and we will work closely with them to design and create a landscaped mine village which reinforces the unique values

and philosophies underpinning the project.”

Rialto appoints Petrofac for Gazelle26-June-2012 by Dan WilkieRialto Energy has appointed global engineering, fabrication and construction specialist Petrofac to perform front end engineering and design for its Gazelle oil and gas field off the coast of Cote d’Ivoire.Rialto said facilities at the Gazelle field would consist of a fixed produc-tion platform with separate oil and gas pipelines connecting to shore.Initial production is expected to be around 8,000 barrels of oil per day and 100 million square cubic feet per day of gas.The company said it expected to award further contracts by year end to achieve a fast-track to first hydrocarbon production, expected in early 2014. Rialto also announced today it had signed an agreement with Vantage Drilling for its 2013 drilling program at Gazelle.“The awarding of the FEED contract, together with the securing of a drill rig, represents yet another step forward for Rialto in its plans to fast track the development of the Gazelle Field and appraise the liquids potential across the entire CI-202 Block,” managing director Jeff Schrull said.“In the last six months we have acquired and begun interpreting 3D seismic and commenced a three-well drilling program. ‘‘Drilling results to date have been encouraging, including the de-risking of the Condor exploration prospect and encountering of a new potentially high impact exploration play.“Rialto’s follow-on 2013 drilling programme will continue to be firmed up as we finalise our seismic interpretation and obtain an enhanced understanding from the current three well-program.”

From page 27

“Profit From Our Experience” phone 9481 4422

BUSINESSES FOR SALE www.buyabusiness.com.au

Wholesale/manufacturePrice: $675,000.Very impressive business with an order book to match. Excellent presentation. Well-maintained quality equipment. Very stable workforce with experienced supervisors. Semi-skilled workforce. Impeccable administration support. Supplies and installs for private, commercial and industrial patio. Stunning design range. Same owner 11 years.Lee Gregory: 08 9481 [email protected] WA’s Business Broker

Taxi & transit north-west WAPrice: $1.25m.Leading taxi service company in northwest. Price includes six (CT) taxi plates and vehicles. Easily operated by remote. Located in booming north-west mining region. Mainly operated by subcontract drivers. Servicing maritime, mining, construction and supporting industries, and local community – airport transfers,

crew changes, courier service etc. Prominent taxi services provided in WA's fastest growing and booming location. No previous industry experience required.Tony Batista: 08 9481 [email protected] WA’s Business Broker

Import/wholesalePrice: $2.3m including stock and P&E. National distributor of high quality products – approved Australian standards and Worksafe compliant. Sales $1.9m 2009 to $3.4m in 2011; low staff numbers, highly profitable, growth potential.Dennis Brede: 08 9481 [email protected] WA’s Business Broker

Wholesale/distributionPrice: $945,000.Central location. Easy to operate. Expected 2012 turnover $13m. Terrific basis for expansion. Low customer numbers. Cash customers only. Shows strong growth. Suit business migrant. Ideal family business. Sale due to ill health. Option to purchase

expansion project. Lee Gregory/Wilna Fourie: 08 9481 [email protected] WA’s Business Broker

Liquor & General StorePrice: $700,000 plus stock.Located in Donnybrook Shire. Established for decades. Diverse income includes liquor, groceries, fuel, gas etc. Generates consistent profitability. Property available with subdivision potential.Wayne Cooper: 0407 997 777Statewide Business Brokers

Lighting businessPrice: $2.5m, including substantial stock.Well known and respected operator located in premium precinct. Supplying commercial and domestic lighting products. Highly profitable, easy to operate with exceptional presentation.Under full management, supported by a team of long-term employees. Excellent opportunity for further growth.David Knowles: 0412 195 402Zircom Business Marketing

■ FOR THE RECORD | GROWING BUSINESS

Continued page 29

ESSENTIALLY the reasons companies fail are poor management, poor financial control, and in some cases fraud.If this is the plight of big businesses, what chance do small businesses have to avoid financial failure or mediocrity? The answer is to have your finger on the pulse of your finances, which means past, present and future.

IncomeHow does it stack up against your budget or target? If you didn’t have a budget or target last year, now is a good time to start one for this year. There’s an old saying: ‘If you aim at nothing you will reach the target with amazing accuracy’.Which income streams performed best? If you didn’t measure it last year, now is a great time to start. Set up your accounts to enable this from July. Once you start measuring profit by income streams, you can maximise the strongest and work on or eliminate the weakest performers. At least you have the information to make a decision. Are there other streams of income you should consider and are they viable? Get a financial controller to work it out before you proceed. Can you better utilise existing resources to maximise income? For example, can labour, equipment, space etc. be more productive? Are there innovative ways you can create other revenue streams? Can marketing and sales be improved to create greater volume?

CostsHow about your budget or expectation in terms of percentage of income? If you didn’t have a budget or idea of what they should be, now is a great time to start measuring it this year. Managing and minimising your costs can have as much impact on your bottom line as big volume increases in income, because every dollar saved goes straight to the bottom line. If you don’t know what your costs should be, a good place to start could be your industry benchmarks. These will give clues as to what to expect. Speak with a good financial controller who can guide you.

OverheadsHow does your overhead compare against your budget or expectation in terms of percentage of income? Just like costs, overheads need to be managed and minimised. Ask yourself of every line item on your profit and loss: “Is this overhead necessary and how can I minimise it?” In a ‘price conscious’ and competitive environment, management of costs and overheads can be your only way of making a profit. Check your percentage of overheads against your industry benchmarks to see how you compare.

Cash flowThis naturally follows on from the above. If you manage to make a profit, now you have to follow it up with good cash flow management. This requires a good understanding and close eye on what drives cash flow. The key components of good cash flow management are:• plenty of profitable income;• constant management and minimisation of costs and overheads;• pricing for profit – if you’re able to increase prices do it (if you have to discount be sure to understand the impact on profit);• efficient collections from customers – don’t be a bank for them;• good management of stock – enough to sell but not too much to waste working capital;• good management of jobs – finish them quickly and best quality possible; and• utilising all credit terms from suppliers and increasing where possible.The very best way to handle cash-flow management is to have a ‘cash flow projection’. It’s a simple spreadsheet that plots out what your expected income will be (taking into consideration time for customers to pay) and what your expected outgoings will be. As well as income, it includes any other funds into the business, such as loans, tax refunds etc. Outgoings also include items such as loans, tax, dividends etc. These are important to take into account as their timing can have a big impact on cash flow.

Systems and resourcesTo achieve all of the above you need systems and people in place to make it all work. Think of modern on-line systems that are freely available today to help you efficiently manage all of the above. On top of systems you need people who understand how the finances work in a business. If you employ a financial controller, or have a good accountant who has the time and expertise to delve deeply into your ‘day to day’ financial management, that’s great. If not, you need someone on your team who can keep things on the ‘right track’ financially on a constant basis.

Financial control an essential base

Sue Hirst is a director at CAD Partners (CFO On-Call), financial and business advisers. Contact Sue on [email protected] | 1300 36 24 36

Sue Hirst


The Western Australian Trade Opportunities Service is operated by the International Trade Centre of the Chamber of Commerce and Industry WA.

BUSINESS AND TRADE

Egyptian Consulate invites companies to take part in the FURNEX Egypt 2012 from 1-5 November. The expo will feature more than 200 Egyptian furniture manufacturers (Egypt) – 17766;

The Iraqi Ministry for Electricity has put out a tender notice for the design, test, supply and shipment for two (2) separate overhead transmission line installations (Iraq) – 17764.

EXPORT GOODS OUT OF AUSTRALIA

Rice (Iraq) – 17765.

IMPORT GOODS INTO AUSTRALIA

Leather handbags (China) – 17762; Wicker baskets for laundry,

hampers, flowers, storage, fruit, bicycles, shopping, pets and picnics (China) – 17763.

For full details on any of the above trade opportunities please contact Nick Paterniti (quoting the relevant reference number shown) at the Chamber of Commerce and Industry of Western Australia on Tel: (08) 9365 7620 Fax (09) 9365 7616 or email [email protected].

TRADE OPPORTUNITIES

FACT FILE

BriefsResolute approves Syama expansion02-July-2012 by Staff reporterPerth-based gold miner Resolute Mining says it will go ahead with a $241 million expansion of its Syama gold mine in Mali, after its board of directors approved the development.The works include an expansion of the existing open pit at Syama and the establishment of a 1 million tonne per year processing facility.Resolute hopes to increase production at Syama to 270,000 ounces of gold a year, with cash costs of $US720/oz over the operations first nine years.Resolute chief executive Peter Sullivan said the approval was an important milestone.“This investment will increase our gold production and lower our average cash costs, bringing substantial benefits to all Resolute shareholders,” Mr Sullivan said.Mr Sullivan said negotiations for an engineering, procurement, construction and maintenance contract were under way, as well as discussions regarding a new mining contract.

Brierty shares rise on increased guidance02-July-2012 by Dan WilkieBrierty stocks are up 15 per cent on the Australian Securities Exchange, after the mining services and construction contractor announced a higher-than-expected profit guidance for this financial year.Brierty announced today that it expected to achieve net profit of between $9 million and $9.5 million, on the back of a 30 per cent increase in revenue.The company said it expected to announce its audited full year results around August 20.The increase in profit guidance comes on the back of the announcement mid-way through last month that Brierty had won a $39 million contract at Fortescue Metals Group’s Cloudbreak iron ore mine in the Pilbara.Brierty lodged a net profit of $4.2 million for the half year ended December 31.

More changes at the top for Reed Resources29-June-2012 by Staff reporterGold miner Reed Resources has announced further changes to its board, with executive chairman David Reed stepping back into a non-executive role and Ian Junk and Peter Collins retiring from the board.The changes are part of a board refreshment program kicked off by the appointment of Vanessa Guthrie last year, the company said.Former Mount Gibson Iron boss Luke Tonkin was appointed as

Reed’s new chief executive and managing director last month.Mr Junk has already retired and Mr Collins will retire at the company’s 2012 annual meeting.Commening on Mr Junk’s contribution, Mr Reed said: “The board and I are most grateful to Ian for his efforts as a member of the Reed Resources board, his contribution to the development of the company and the practical mining perspective he brought to the company during his time on the board”.The company was in the process of seeking a new director with mining experience.

Platinum Australia calls in administrators29-June-2012 by Staff reporterPlatinum Australia has been placed into voluntary administration, citing operational issues at its Smokey Hills mine in South Africa and a costly dispute with a former contractor.The Perth-based miner and explorer appointed Bryan Hughes of Pitcher Partners as its administrator today.“It is envisaged that the company will utilise the administration process to restructure its affairs, to consolidates its position and to eliminate legacy issues,” Platinum said in a statement.“The company has three valuable and worthwhile projects and is assessing how best to realise value from them.”Further information will be made available to shareholders in due course, the company said.

Skywest warns of profit dip29-June-2012 by Dan WilkieRegional air carrier Skywest is anticipating full year revenue to hit $S300 million ($232 million) by the end of June, a 25 per cent increase in expected earnings, but has warned its profit could be significantly lower than last year.Singapore and ASX-listed Skywest said revenue growth was expected to be particularly strong over the second half of the financial year, and 35 per cent up on the previous half year.The company was previously expecting a 20 per cent increase in revenue.But Skywest said, although providing guidance in the airline industry was difficult, it expected a net profit of around $S2 million ($1.55 million) for FY2012, after lodging a profit of $S9.8 million ($7.6 million) in FY2011.“Current trading has been impacted by a change in the composition of the client base for charter, and most especially abnormally high aircraft cross hire costs,” Skywest said.“Given the rapid growth of the company the current trading is as expected with the benefits of scale and growth anticipated to be enjoyed in the 2013 financial year.”Skywest said second half revenue would be written down by $S10

million due to “significant abnormal aircraft cross hire charges” for its fly-in, fly-out charter business.Cross-hire charges totalled around $S4 million the previous financial year.“All aircraft cross-hiring ceased on 14 June and the company does not expect future material aircraft cross-hire requirements,” the company said.

Alkane on track for production in 201528-June-2012 by AAPAlkane Resources says it’s on track to bring one of the world’s largest undeveloped zirconium resources into production by 2015.The minerals explorer, which has a market capitalisation of $300 million, is developing a zirconium and rare earths project near Dubbo in New South Wales.The company says its capital expenditure is expected to reach about $1 billion during 2012/2013.Alkane managing director Ian Chalmers told an investor briefing in Sydney that the ore body was remarkably uniform and the mine would last around 20 years.“It’s a very homogenous deposit,” Mr Chalmers said during a tour of the company’s demonstration pilot plant at Lucas Heights. Zirconium is used in ceramics, and rare earth elements are used in high-tech consumer goods such as iPods and flat-screen televisions.While the company says radiation levels at the site will be extremely low, it still expects to be targeted by anti-uranium protesters.Alkane says the project is expected to generate revenue of $504 million and earnings of $308 million per annum.Construction at Dubbo is expected to begin in 2013, subject to development approvals and an environmental assessment.

MCC told to set aside $80m over Cape Lambert stoush27-June-2012 by Edited announcementThe Metallurgical Corporation of China has been ordered to set aside $80 million owed to Cape Lambert Resources over the sale of a Pilbara magnetite project in 2008.MCC had paid Cape Lambert a total of $320 million for its namesake project, but failed to pay the final $80 million of the agreed purchase price.Cape Lambert commenced legal proceedings in September 2010 to recover the funds.The Supreme Court of Western Australia yesterday ordered MCC to pay the $80 million into an escrow account pending resolution of the dispute, a letter from Cape Lambert chairman Tony Sage to shareholders said.

From page 28

Jeffrey Gitomer

Jeffrey Gitomer is the author of The Little Book of Leadership, and Social BOOM! President of Charlotte-based Buy Gitomer, he gives seminars, runs annual sales meetings, and conducts Internet training programs on selling and customer service at www.trainone.com. He can be reached at 704/333-1112 or e-mail to [email protected] © 2012 All Rights Reserved. Don't reproduce this document without written permission from Jeffrey H. Gitomer and Buy Gitomer. 704/333-1112 www.gitomer.com.

YOU have been making value perceptions and value judgments your entire life. You may call them decisions, moments of truth, or actions. Intuitively they focus around value – and your perception of it – or the weight you put toward it as these decisions or actions are taken or made.It’s the same in sales, but in the selling process there are two values of perception and two value judgments. One is the value perception and judgment you make, and the other is the value perception and judgment the customer makes. Obviously the customer’s value judgment and perception rules the selling process. However, you, the salesperson, have a major impact on how the value is perceived and ultimately how their judgment is made. Your value judgments come from: • how you feel about your company; • how you feel about your product; • how you feel about yourself; and• how you feel about the customer and their buying process.You’ve placed a value on yourself that reflects in your selling skills, your attitude, your belief system, your truthfulness, and your ethics. If you are willing to compromise any of those, you’ll never be a successful salesperson in the long term. That’s you. And then there is the customer. Whether they’re an existing customer or a prospect, they’re making all kinds of value judgments about you, your product, and your company – in that order. Much of their judgment about you is being made during the presentation itself, but as the digital age progresses many of these perceptions and judgments are made way before you (the salesperson) enter the scene. These days, Google can create preconceived value notions that don’t simply revolve around your product or your price; that’s just one part of the equation. Your personal reputation and your company’s reputation play a major role in the customer’s perception and judgment of value. Major upside-down clue: Every salesperson uses Google to find more information about the company and the person they are going to meet. That same salesperson rarely, if ever, takes the same amount of time to Google themselves to see what the potential customer is finding out about them. It’s a major mystery to me why salespeople still believe they are invisible. Meanwhile, your reputation (and/or lack of it) is totally available to the customer way before you ever enter their office. The majority of salespeople, most likely including you:do not have a business Facebook page; have never tweeted; do not have a personal website; do not have a blog; do not have a YouTube channel; and have fewer than 500 LinkedIn connections. What could they (you) be thinking?It will take your prospective or existing customers less than one minute to do a complete internet search on you, and it’s most likely you have never done one on yourself. Your sales hang in the balance. Wrong thinking: People with no internet presence, people with no brand presence, and people with little personal reputation will all make the feeble excuse that the customer is only buying price anyway. They (you) are foolishly incorrect. If your customer is looking to make a value judgment before you arrive, what are they going to find? Note well: If a customer is looking to make a value judgment or value perception during your presentation, a good portion of that will occur way before the presentation takes place. I’ve just given you a re-definition of the word ‘value’ by adding the words perceived (perception) and judgment. These are the words your customer mentally uses as he or she is deciding.Notice I have not used the words ‘add’ or ‘added’ when referring to the word value, nor will I ever. Your biggest job as a salesperson is to create you own value and reputation in the marketplace, so that when your prospective customer is looking for information about you, it will credibly be there. I have listed the value-based elements you need to succeed. I am challenging you that you probably don’t have them, and now it’s time for you to make your own value judgment if it is worth the investment of time to create them. In my opinion it’s not an option, it’s an imperative. Show me the value, and I’ll give you the sale.

Where’s the value in your offering?

SALES SESSIONS | FOR THE RECORD ■

| COMMUNITY & ARTS SECTOR ■


Lifeline makes the call on growthTHE Western Australian branch of suicide prevention organisation Lifeline will take its fight to the internet with the development of a chat crisis service to support members of the community.

The not-for-profit organisation enters the new financial year with intentions to establish the online service and plans to grow its rev-enue to help support its burgeoning services.

Lifeline chief executive Fiona Kalaf, who was appointed to the role five months ago, told WA Business News the organisation’s growth was more of a logical pro-gression of its current position.

“In the last few months since I have been on-board with the team, and the board, (and) we have been re-looking at our strategic plan and, in particular, looking at our new operational plan for the new financial year,” Ms Kalaf said.

“There are some exciting things coming down the line for us, we will continue to do all the sorts of things that people know us for so that’s the 131114 telephone crisis support line.

“We’re also investigating the potential to offer online crisis chat, which is really an important space in particular for youth that we need to be present for so that’s really exciting for 2012-13.”

She said that every 12 minutes there was a Western Australian in emotional crisis who called Lifeline, so it was important for it to open up additional channels for people to reach it.

The organisation existed under different titles during the 1980s until it was accredited in 1994 by Lifeline Australia to operate as a centre in WA.

The branch is supported by 170

■ Nicholas Brant

trained volunteers and 24 paid staff, 16 per cent of which are focused on administration, finance and risk management.

The rest concentrate on provid-ing services to the community.

Ms Kalaf said the organisation also offered a raft of education and engagement programs to schools, companies and even local councils to help people identify colleagues or friends in emotional crisis.

“It’s important that we get the message out that there is no stigma associated with mental illness and no stigma associated with having suicidal thoughts,” she said.

“We are also pushing forward with our counselling services, so we have a number of services on the go, crisis counselling, bereave-

ment counselling and separation counselling.”

Lifeline operated on a turnover of $2.5 million for the 2011 financial year, with 30 per cent of its revenue coming from government funding and 70 per cent from donations and fund-raising events such as the annual HBF Run for a Reason.

Ms Kalaf told WA Business News Lifeline would build on its revenue through more fund-raising and donations as well as expanding its paid services.

“With something like our crisis telephone line, there is no cost recovery model for that so the cli-ent who calls doesn’t pay for that service,” she said.

“But, in other of our services like counselling and education

and engagement programs, we do charge for that.”

The organisation is working with its corporate partners to help expand services, including its education and engagement programs, which would increase its client base and revenue.

“We talk about suicide risk but also offer courses on how to pre-vent cyber bullying, so there’s a range of services or products that we offer on a regular basis,” Ms Kalaf said.

“It’s driving some of those prod-ucts where we can have a cost recovery model and then that also can support the crisis support areas of our business where we can’t realistically charge a person who is in crisis for engaging with us in an online chat.”

CHAT: Fiona Kalaf says Lifeline plans to open a ‘chat crisis service’ online to make it more accessible to younger people. Photo: Grant Currall

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Remember how cool it was when you were a kid? Heading out to explore the bush, build cubbies, catch tadpoles and climb trees? Many kids don’t get to do this anymore. At the new Lotterywest Bush Base in Naturescape Kings Park, kids can be free to have fun and get back to nature. Rumour has it that parents and grandparents are having fun too. And they can do it thanks to the support you give by playing Lotterywest games.

Rediscover your natural habitat

lotterywest.wa.gov.au/grants

IN BRIEF

Charter Hall steps up for sick kidsPROPERTY developer Charter Hall Group has launched plans to raise $50,000 for HeartKids WA during the construction phase of its two-building WorkZone office project on Pier Street.Last week, Charter Hall donated $10,000 to the cause while building, and civil construction management company Broad Construction Services presented a $5,000 cheque to the charity.HeartKids WA, which provides support to families of children with congenital heart disease, will use the funds for medical equipment and to hire a part-time support coordinator at Princess Margaret Hospital for families with a child diagnosed with CHD.

Newmont’s asthma supportGOLD producer Newmont Asia Pacific has pledged a three-year financial commitment to the Asthma Foundation WA to help it deliver asthma education and support to rural areas of the state.The charity will use the funding to transport staff to remote areas of the state to deliver education courses and train local health professionals and the community on the effective treatment of asthma.Asthma Foundation WA chief executive David Johnson said there were 225,000 Western Australians living with asthma and the hospitalisation rate due to asthma was 75 per cent higher among country residents than in the metro area.

changes in directors’ interests for the …...anz job vacancies wa may 12 1,515 -5.1% -11.0%...

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