PRIVATE COMPANY SLOG

PRIVATE COMPANY SLOG

MORE than half of the Queensland private companies surveyed in a KPMG annual Private Companies Survey indicated they had not met revenue targets in the past 12 months. In fact most of Australia’s private company participants were found to be more pessimistic about their short-term prospects than they were 12 months ago and more than 3...

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COLLAPSE OPENS DOOR FOR Q FORD

COLLAPSE OPENS DOOR FOR Q FORD

IN a bid to expand the company, Q Ford has purchased the Ebbw Vale Brisbane-based business and assets of Bremer Ford for an undisclosed sum.

Last month, Q Ford purchased the Suzuki dealership in Springwood, also for an undisclosed sum.

Denmac Ford, including three sites – its head office, sales, service and parts located in Darra, the othe...

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SHARE OWNERSHIP UP

SHARE OWNERSHIP UP

THE latest share ownership study released by the ASX shows around 7.3 million people, or 43 per cent of the adult Australian population, own shares directly or indirectly. The study found that individual investors holding shares directly has increased to 30 per cent of the adult population, up 25 per cent compared with the last study in 2008. In...

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MERGER FOR MONEY MEN

MERGER FOR MONEY MEN

FINANCIAL services firm Quill Group has merged with Brisbane accountancy practice Sims Crawford Elliot and Co. Quill Group managing director Kevin Nicol (pictured left with David Elliot) says merging with SCE means a second Brisbane office for the group, expanding Quill Group’s presence in South East Queensland. “We’re very ple...

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INSOLVENCY ACTIVITY FAR FROM OVER

INSOLVENCY ACTIVITY FAR FROM OVER

THE expansion of one of Sydney’s biggest insolvency law firms into Brisbane comes as a judicious warning for Queensland business owners that tough economic conditions are far from over.

Henry Davis York will consolidate its new Brisbane headquarters this month after identifying a likely rise in insolvency opportunities.

Managing partner Jo...

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WMS ACCOUNTED FOR AT THE ROCKET

WMS ACCOUNTED FOR AT THE ROCKET

FINANCIAL services firm WMS Solutions has taken a seven-year lease with options at Robina’s The Rocket.

The Gold Coast’s largest accountancy firm will move into a 1200sqm office space, comprising the entire 15th floor and most of the 14th floor from July 1.

WMS is the latest company to move into the building, following Allconnex, THG...

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BOQ DEFENDS ASIC ACTION

BOQ DEFENDS ASIC ACTION

BANK of Queensland (BOQ) is defending itself against an ASIC action and has its focus firmly on diversification after two more businesses were acquired last year. ASIC announced at the end of last year that it had lodged legal proceedings against parties, including BOQ, seeking compensation for investors caught up in the collapse of Storm Financ...

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WMS ENTERS NSW

WMS ENTERS NSW

HIRING 61 staff, WMS Solutions is the largest financial services employer on the Gold Coast.

The company experienced mixed results in FY10, having dropped slightly in both turnover and bottom end profits.

Partner Aaron Lavell (pictured) says the reduction in profit was a ‘deliberate strategy’ that allowed the firm to retain its ...

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TREASURER REFINES TAX RULES TO PAY FOR FLOODS

TREASURER REFINES TAX RULES TO PAY FOR FLOODS

QUEENSLAND Treasurer Andrew Fraser today announced tougher tax regulations that could collect the state an extra $30 million for flood recovery in the wake of $2.5 billion in writedowns.

Fraser says streamlining the collections system from quarterly to monthly will ‘simplify rules and reduce the scope for tax avoidance’.

"Queensland w...

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CASH IS STILL KING

CASH IS STILL KING

CASH flow is essential to prosperity and SMEs will need to structure their finances correctly to properly manage spending this year. This will mean separating personal and business spending.

Spectrum Financial Planning partner Adem Becirevic (pictured), says too many small business owners confuse company and personal finances, leading to po...

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CUDECO TO RAISE $20M VIA INSTITUTIONAL INVESTOR

CUDECO TO RAISE $20M VIA INSTITUTIONAL INVESTOR

MINING company Cudeco Limited (CDU) will seek to raise up to $20 million in a placement offer with an institutional investor. The company has placed 10 million shares at $2 per share with an internatrional global investor as it moves to the next stage of its copper project Rocklands, near Cloncurry in north Queensland. Cudeco hopes that by havin...

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COPPERMOLY AT A LOSS

COPPERMOLY AT A LOSS

COPPERMOLY Limited (COY) has recorded a $2.1 million loss for FY10 but improved its cash position by $1.7 million, as the company continues exploration work on its Papua New Guinea copper-gold projects. In the company’s annual report released today, chairman Peter McNeil (pictured) highlighted the positives of the company’s joint ven...

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Top finance tips 2010

Top finance tips 2010

2010 is already shaping up as one of anticipated optimism, but what does it really mean for the Gold Coast, Australia’s sixth largest city and the arguably the SME capital of the nation? The real question is whether 2010 will really deliver the swing in the economy that so many business owners are praying for. With the big banks’ int...

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