JOBS

WIRES:

Scoop >> Business

Precinct reports no major Wellington damage, hires assessor

Monday, 22 July 2013, 8:57 am
Article: BusinessDesk

Precinct Properties reports no major Wellington damage, hires assessor

July 22 (BusinessDesk) - Precinct Properties New Zealand, which counts its 10 office towers in Wellington’s central business district as 40 percent of its $1.6 billion portfolio, says it has suffered no major damage from yesterday’s 6.5 magnitude earthquake.

The city was shaken by the quake at 5.09 pm yesterday, the peak of a swarm of earthquakes centred off the coast of the upper South Island near Seddon. Authorities have advised workers in Wellington’s CBD to stay at home pending building checks after glass and rubble was sent falling into the streets and commuter train services were halted.

Precinct said it has hired seismic engineers Holmes Consulting Group to begin structural assessments of its buildings starting today. It had previously used the firm in 2011 to assess the seismic strength of its buildings.

“A further update on the outcome of the inspections will be provided as information becomes available,” Precinct said.

Shares of Precinct were last at $1.07 on Friday and have gained 8.1 percent this year.

(BusinessDesk)

BusinessDesk

Independent, Trustworthy New Zealand Business News

The Wellington-based BusinessDesk team of former Bloomberg Asian top editor Jonathan Underhill and Qantas Award-winning journalist and commentator Pattrick Smellie provides a daily news feed for a serious business audience.

CONTACT BUSINESSDESK

Email - jonathan@businessdesk.co.nz

Email - pattrick@businessdesk.co.nz

Business Headlines | Sci-Tech Headlines

BUSINESS, SCIENCE & TECH > >

Scoop Business: Port Of Tauranga Takes $21.6M Stake In Timaru’s PrimePort

Port of Tauranga, New Zealand’s busiest export port, has agreed to buy a half stake in PrimePort Timaru in a $21.6 million deal aimed at strengthening the Tauranga site as a hub for coastal shipping. More>>

ALSO:

Port of Tauranga Limited - Tauranga and Timaru Ports Agree Strategic Alliance
PrimePort Timaru - Port alliance set to transform South Canterbury economy
Timaru District Council - Joint venture proposed for PrimePort; giant boost for port

Need To Sell Moa Beer: Moa Slumps To Record Low After Warning On 2014 Sales

Moa Group is the worst performing stock on New Zealand’s benchmark index, dropping to a record low, after the boutique beer maker said it will miss its 2014 sales forecasts as volumes sold in New Zealand and Australia lag expectations. More>>

Now In Red: Martin Aircraft Company Reveals Latest Jetpack

Martin Aircraft Company’s CEO, Peter Coker, said that the P12 prototype was a “huge step up” from the previous prototype. More>>

Scoop Business: Meridian Earnings Strong, But Smelter Deal Cuts Value

Meridian Energy has turned in a strong 53 percent increase in underlying net profit after tax of $162.7 million, but has had to write down the total value of its assets by $476 million to reflect the lower power prices it will get from the Tiwai Point aluminium smelter. More>>

ALSO:

Greens - Meridian’s profits highlight case against asset sales
Last week Gordon Campbell - Gordon Campbell on the smelter deal, Fonterra and Iran

Quake Rules Announced: Owners Urged To Strengthen Buildings Over Minimum

The New Zealand Society for Earthquake Engineering has urged building owners to strengthen earthquake prone buildings to double the Government’s minimum requirement... More>>

ALSO:

NZ Govt - Earthquake-prone buildings policy announced
Labour - Earthquake-prone buildings policy must be balanced
Local Govt NZ - LGNZ says earthquake building policy provides certainty
Wellington City Council - Wellington response to quake announcement
Property Council Of NZ - Market realities of earthquake-strengthening recognised
Business NZ - Earthquake building policy faulted
Wellington Employers' Chamber of Commerce - Response to Government quake announcement
Otago Polytechnic - Speight’s agrees to earthquake testing on small building
Epilepsy NZ - Recent Earthquake Affects Epilepsy NZ’s Nelson Office

Power Market: Tiwai Point Smelter Safe To Jan 2017 Under New Power Deal

Meridian Energy has had to give up previously negotiated price increases and the government has chipped in with a $30 million “incentive payment” to keep the Tiwai Point aluminium smelter open until at least January 2017. More>>

ALSO:

Scoop Business - New smelter power deal allows for faster closure
NZ Govt - Government welcomes Meridian agreement
Labour - Deal keeps smelter for less than four years
Greens - National adds another $30 million to asset sales bill
NZ Aluminium Smelters - NZAS signs new electricity agreement for Tiwai Point smelter

Telecommunications Review: Government's Telco Intervention "Unprecedented"

Today's announcement by the government effectively puts the needs of Chorus's shareholders ahead of those of every day New Zealanders, says the chief executive of the Telecommunication Users Association of New Zealand, Paul Brislen... More>>

ALSO:

InternetNZ - Significant Error in Telco review – InternetNZ, Consumer, TUANZ
Scoop Business - Chorus shares jump, but still wary on copper pricing split - Adams gives nod for copper prices to underpin fibre
NZ Govt - Review to provide certainty to consumers, industry - Launch of the Telecommunications Act discussion document
Labour - National acts for its Chorus mates, not Kiwis
Internet NZ - Policy U-turn good for shareholders, bad for consumers
Telecom NZ - Telecom welcomes moves towards regulatory certainty
Vodafone - Greater aspiration needed in regulatory review - Vodafone

Get More From Scoop


Search latest Jobs Positions $100k+ NZ Govt Jobs	Media & Ent. Jobs NZ IT Positions Salary Advice

LATEST HEADLINES

While you were sleeping: Lockhart, US retail sales 7:46 AM | BusinessDesk
Emirates Announces Fifth Route To Pakistan 13/08/13 | Emirates Airlines
UPDATED: Port of Tauranga makes first South Island foray 13/08/13 | BusinessDesk
MARKET CLOSE: NZ shares gain paced by Summerset 13/08/13 | BusinessDesk
Fonterra Confirms No Affected Product Sent to Russia 13/08/13 | Fonterra
New Zealand Company Goes Global 13/08/13 | EB Engineering Solutions
Chartered Accountants Also Brilliant Bakers! 13/08/13 | BW Chartered Accountants

RSS

THE WESTPORT STORY
Told by Scoop

Scoop Amplifier paid a 3-day visit to Westport and the Buller District to begin to gain some on-the-spot perspectives into just how steep a battle the majority of Coasters are facing to find ways to tell the story of their intertwined environmental and economic prospects.