Business
Infrastructure
Fletcher-commissioned Deloitte report shows building material costs are low
By Jenny Ruth May 17 (BusinessDesk) - The cost of building materials in New Zealand account for between 16-24 percent of the cost of residential housing development costs, depending on the type of building and location, according to a study by accounting firm Deloitte. If t...
Infrastructure
UPDATE: Infratil kicks off $400M equity raising, posts flat earnings
(Adds company comment throughout) By Gavin Evans May 17 (BusinessDesk) – Infratil’s purchase of a stake in Vodafone New Zealand will be transformative for its portfolio and should generate the sort of returns that will allow the company to return to a rising dividend track,...
Finance
RBNZ censures ANZ, prescribes risk capital calculation
By Rebecca Howard May 17 (BusinessDesk) - The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand's accreditation to model its own operational risk capital requirement due to a "persistent failure" in its controls and attestation process. ANZ is one of four big ban...
Services
SeaDragon shareholders back $4M injection to stave off liquidation
By Rebecca Howard May 17 (BusinessDesk) - SeaDragon has managed to stave off possible receivership or liquidation after shareholders backed resolutions to allow a $4 million cash injection. "Management’s current estimates have SeaDragon unlikely to pay its debts as they fa...
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