Hawkins to deliver multiple geothermal projects in Indonesia

Hawkins Construction has secured two geothermal power projects in Indonesia, solidifying the NZ company’s drive to secure work offshore. The Lumut Balai and Karaha geothermal power stations will be delivered in joint venture with Indonesian partner Banguan Cipta Kontractor (BCK) for the state-owned Pertamina Geothermal Energy. Click here to read Hawkins’ press release. These projects…

Prefabrication well underway in Wellington

Matrix Homes recently opened a factory in Trentham on 4 February 2015 that is producing modular houses that can be installed anywhere in NZ (they can fit on the Cook Strait ferries). The company aims to produce around 500 houses annually. Matrix is set up to produce two types of design, the M1 and the…

Guarantees little comfort when company goes under

Embattled Christchurch home building company Williams & Co has been placed into liquidation in the High Court at Christchurch, after much adverse publicity regarding its failure to meet timeframes and rising debts – estimated to have escalated to over $2.5 million. Business Day has covered the plight of several of the company’s clients. Bar owner…

Some lessons on variation claims and payment schedules

The recent High Court decision Complete Construction Ltd v Lyon Electrical Ltd [2014] NZHC 3116 provides the construction industry with some lessons regarding payment schedules and variation claims. Complete Construction Limited (‘Complete’) engaged Lyon Electrical Limited (‘Lyon’) on a number of building projects. The subcontracts between Complete and Lyon (which were unsigned) required variations to…

Large deposits a risky business

Today’s Business Day includes an article highlighting the risks associated with paying sizeable deposits to a business, a common practice in the residential construction industry. The publication features Douglas Wood and Anna Smith, who paid a one third deposit on a new heating system to Wellington based energy efficiency and insulation business Right House. The…

High labour demand in the construction industry

Job growth in the construction industry continues to rise as Canterbury rebuilds from the devastation of the 2010 and 2011 earthquakes. In the past 12 months, 15,800 jobs were created in the region. This accounts for nearly 20% of jobs created across the country. This has had a flow on effect to other sectors in…

NZX released guidance note on new market (NXT)

The NZX has recently released a guidance note on the requirements to list on the new market, NXT (click here). This follows our previous post highlighting the potential prospect for smaller companies to raise equity through a new market designed for companies with a market cap of less than $100million (click here to read our…