NZ developer threatened with suspension despite improved results
Wednesday 6 October 2004
Listed New Zealand developer Australasian Property Holdings Group Limited has been threatened with the suspension of its shares on the New Zealand Stock Exchange after failing to tender its annual report.
By The LandlordAPH, whose major development is an exclusive resort project in Sydney’s Blue Mountains, was warned by the NZX yesterday that if it did not produce its annual report immediately it would be suspended from trading tonight.
Despite the NZX threat, the group’s preliminary results to 30 June 2004 reported an improved performance with losses totaling NZ$1.7 million. In its 2003 annual results, APH Group recorded a loss in excess of NZ$7.4 million.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.