Ms PURICK - 2008-09-18
Brierty Limited, one half of your preferred development team for Bellamack, was last week described in the WA Business News as ‘Embattled civil construction group Brierty has brushed aside a horror nine months marred by shock profit downgrades and share price savaging …’. Brierty Limited posted a full year nett loss of $1.3m after downgrading its profit twice - not once, twice - in its first year of listing on the stock market. Upon the announcement of the deal between the Northern Territory government, you, and Brierty, its share price plunged even further by another 10%. Why is Brierty on shaky financial grounds, and why was the company preferred to the many financially stable and proven local companies?
ANSWER
Madam Speaker, I will go back over the assessment process briefly. The assessment process did go to the financials and the capacity for the companies chosen to deliver the product to the marketplace ...
Mr Elferink: So you knew that they were struggling.
Madam SPEAKER: Order! Minister, you have the call.
Ms LAWRIE: Financially backing the consortium is the Macquarie Bank.
Members interjecting.
Madam SPEAKER: Order, order!
ANSWER
Madam Speaker, I will go back over the assessment process briefly. The assessment process did go to the financials and the capacity for the companies chosen to deliver the product to the marketplace ...
Mr Elferink: So you knew that they were struggling.
Madam SPEAKER: Order! Minister, you have the call.
Ms LAWRIE: Financially backing the consortium is the Macquarie Bank.
Members interjecting.
Madam SPEAKER: Order, order!
Last updated: 09 Aug 2016