Latest news with #Golding
ABC News
21 hours ago
- Business
- ABC News
Administrators reveal staggering debts of Whyalla Ports with at least $194 million owed
The administrators of Whyalla Ports Pty Ltd have told creditors the company owes at least $194 million, but the true amount is still unclear. Accounting firm William Buck held the first creditors' meeting for the company on Thursday, revealing $25 million was owed to trade creditors with a further $63 million listed as a lease liability. The largest slice is owed to Golding's and its parent company NRW, a key mining contractor, with a secured debt of $106 million. However, administrator Michael Brereton said they were waiting to receive financial records from Whyalla Ports directors. "One of the first things we did on our appointment was to issue a notice to the directors to complete what's called the report on company affairs and property," Mr Brereton said. "That was issued immediately … [and] we have yet to receive those from the directors, so we don't have all the financial information. "[I] think one of the problems they face is that the company operated on the basis that it held the port. "Based on the litigation and the legislation that's been passed, it's become apparent that maybe the company didn't have control of the ports. "So I suspect they're having some problems trying to work through 'What are the financial records of the company?'" In early June, the ports became another casualty in the ongoing fallout since the Whyalla Steelworks was tipped into administration by the state government. The company, Whyalla Ports Pty Ltd, was involved in a Federal Court case launched by Whyalla Steelworks administrators KordaMentha, which wants control of the port so it can sell the steelworks as an integrated asset. Parent company GFG Alliance said when the state government passed new laws to "clarify" that the port was owned by OneSteel, it was left with "no option" but to push the port into administration. KordaMentha has since abandoned the legal action it began. However, a counterclaim from GFG Alliance is still being pursued over the ownership of some assets. During today's meeting, Mr Brereton said a lease agreement between OneSteel and Whyalla Ports was terminated on March 27. "The company was not trading on our appointment," Mr Brereton said. "The company was dispossessed of all its plants and equipment at that time and its right to provide services to customers." One Whyalla creditor, who wished to remain anonymous, previously told the ABC they were owed between $100,000 and $200,000 by Whyalla Ports. They said they feared they may never receive the money due to the dispute over the port's ownership. CEO of Sudel Industries and creditor Kevin Moore said he was owed roughly $20,000 from Whyalla Ports. "Basically, I've already written that money off. I don't think we'll see it." Although the paperwork has not been filed, it is understood that the company will more than likely apply for a deed of company arrangement (DOCA) at its next meeting.
The Citizen
12-06-2025
- Business
- The Citizen
Housing assets reflect a further recovery in price appreciation
Widely considered a mainstream asset class, offering considerable upside potential in terms of capital appreciation over the medium to longer term as well as a favourable rental income stream, residential property owners and investors will be encouraged by the further recovery in house price appreciation in South Africa. Says Dr Andrew Golding, chief executive of the Pam Golding Property group: 'On the back of the recently-announced (29 May 2025) reduction in the repo rate, further positive news for homeowners and residential property investors is that the recovery in house price inflation (HPI) continues to gather momentum, soaring to a robust 7.2% in April 2025 from year-earlier levels, according to the latest Pam Golding Residential Property Index. 'This surge in appreciation in housing assets is well above the two previous cyclical peaks and the strongest growth rate in national house prices since late-2007. For 2025 to date, national HPI has averaged 6.4% which is double the average for 2024 – which was 3.2%. 'Furthermore, given that inflation remains anchored below the lower 3% inflation target limit, real, inflation-adjusted house prices rose by +4.4% in April, which is an almost 20-year high. For 2025 to date, real house price inflation has averaged 3.4%.' According to the Pam Golding Residential Property Index, growth in house prices has accelerated across all three major regions. Although the recovery in Western Cape HPI leads the way at +7.3%, the strengthening rebound in Gauteng of +5.4% and KwaZulu-Natal's +4.8% is closing the gap, while the recovery in Eastern Cape HPI continues to track the national recovery, with prices rising by +3.2% in April. Meanwhile, revised growth in house prices in Mpumalanga peaked at +3.3% in early-2025 before easing marginally to +3.25% last month (April). In regard to coastal vs non-coastal homes, revised coastal HPI has rebounded ahead of non-coastal house prices, rising by +5.0% and +3.7% respectively in April. Interestingly, while the recovery in non-coastal HPI began in early-2024, in contrast, growth in revised coastal house prices only began to accelerate once more in Q3 2024. Meanwhile, a strong recovery in sectional title house prices resulted in a convergence with freehold HPI at +3.9% in April. Adds Dr Golding: 'Regionally, Cape Town continues to outperform other major metro housing markets by a wide margin, rising by +6.2% in April, followed by an upwardly revised Tshwane at +2.4%, while the recovery in Johannesburg HPI of +1.8% continues to strengthen in tandem with eThekwini at +1.9% – the ninth consecutive month in positive territory for the latter. 'Positively, house price inflation in the coastal market in Nelson Mandela Bay rose to +3.0% in April.' Issued by Gaye de Villiers on behalf of Pam Golding Properties
The Advertiser
08-06-2025
- Automotive
- The Advertiser
'Piss poor': Wood slams race-ending Supercars incident
Walkinshaw Andretti United driver Ryan Wood has blasted James Golding's racing as "piss poor" after an incident ended his outing in Perth. The pair locked horns late in Sunday's 83-lap, 200km sprint at Wanneroo Raceway when PremiAir Nulon Racing's Golding had run wide at turn one. Wood made the most of his opportunity and moved into fifth on the inside, but Golding was unwilling to give up ground. With eight laps to go, Golding made side-on contact with the second-year driver and ended up running both cars off. Wood, who at one point was as high as second after qualifying fifth, was unable to finish the race. Golding finished 22nd after being slapped with a drive-through penalty for the incident. "I was racing someone that shouldn't have been in that position with the way he raced everyone else before that, and he finished me off, so that was pretty awesome," Wood told Fox Sports. "For someone that's pretty experienced, it was pretty piss poor. "I expect better than that, and I know I'm no princess out on the racetrack. "I race hard, but I'm pretty sure I race pretty fair most of the time, so I didn't feel like that was the case then." Golding apologised for the incident, with the pair seen talking in the garages after the race. "I got on the (tyre) marbles, and by that point, once you're on the outside, you can't really disappear," Golding told Fox Sports. "We're both racing hard. Unfortunately, when we bumped, it broke my steering, which pulled me hard right into him and ended his race. "Sorry to those guys, but we're all racing hard out there. "It's racing. S**t happens sometimes." Wood believed Golding should have been punished earlier for an incident with Triple Eight driver Will Brown. Golding was defending his position in fourth when the nose of Brown's car hit his right rear and sent him wide at turn seven. On-track aggression has been dialled up this year as the series undergoes a massive format shake-up. Wood has himself drawn scrutiny from stewards, handed a drive-through penalty in Melbourne after sending Erebus driver Jack Le Brocq into the wall on the opening lap. "There should have been penalties before that with the same driver," Wood said. "It doesn't matter when someone gets a penalty after they finish someone off, it shouldn't get to that point. "I'm sure I got a lot worse for a lot less this year." It is a frustrating end to the weekend for Wood, who had claimed the opening sprint for his first Supercars win. Wood was cruelly denied back-to-back wins on Saturday after suffering a suspension failure. "Just gutted for our whole team because they produced us with a race car to put ourselves in a position to win all three races this weekend," Wood said. "I don't know who's walked under a ladder or something, but yeah, definitely going to get some spells put on us for some good luck." Broc Feeney extended his championship lead by taking out the final sprint, followed by Matt Payne and James Courtney in second and third, respectively. Walkinshaw Andretti United driver Ryan Wood has blasted James Golding's racing as "piss poor" after an incident ended his outing in Perth. The pair locked horns late in Sunday's 83-lap, 200km sprint at Wanneroo Raceway when PremiAir Nulon Racing's Golding had run wide at turn one. Wood made the most of his opportunity and moved into fifth on the inside, but Golding was unwilling to give up ground. With eight laps to go, Golding made side-on contact with the second-year driver and ended up running both cars off. Wood, who at one point was as high as second after qualifying fifth, was unable to finish the race. Golding finished 22nd after being slapped with a drive-through penalty for the incident. "I was racing someone that shouldn't have been in that position with the way he raced everyone else before that, and he finished me off, so that was pretty awesome," Wood told Fox Sports. "For someone that's pretty experienced, it was pretty piss poor. "I expect better than that, and I know I'm no princess out on the racetrack. "I race hard, but I'm pretty sure I race pretty fair most of the time, so I didn't feel like that was the case then." Golding apologised for the incident, with the pair seen talking in the garages after the race. "I got on the (tyre) marbles, and by that point, once you're on the outside, you can't really disappear," Golding told Fox Sports. "We're both racing hard. Unfortunately, when we bumped, it broke my steering, which pulled me hard right into him and ended his race. "Sorry to those guys, but we're all racing hard out there. "It's racing. S**t happens sometimes." Wood believed Golding should have been punished earlier for an incident with Triple Eight driver Will Brown. Golding was defending his position in fourth when the nose of Brown's car hit his right rear and sent him wide at turn seven. On-track aggression has been dialled up this year as the series undergoes a massive format shake-up. Wood has himself drawn scrutiny from stewards, handed a drive-through penalty in Melbourne after sending Erebus driver Jack Le Brocq into the wall on the opening lap. "There should have been penalties before that with the same driver," Wood said. "It doesn't matter when someone gets a penalty after they finish someone off, it shouldn't get to that point. "I'm sure I got a lot worse for a lot less this year." It is a frustrating end to the weekend for Wood, who had claimed the opening sprint for his first Supercars win. Wood was cruelly denied back-to-back wins on Saturday after suffering a suspension failure. "Just gutted for our whole team because they produced us with a race car to put ourselves in a position to win all three races this weekend," Wood said. "I don't know who's walked under a ladder or something, but yeah, definitely going to get some spells put on us for some good luck." Broc Feeney extended his championship lead by taking out the final sprint, followed by Matt Payne and James Courtney in second and third, respectively. Walkinshaw Andretti United driver Ryan Wood has blasted James Golding's racing as "piss poor" after an incident ended his outing in Perth. The pair locked horns late in Sunday's 83-lap, 200km sprint at Wanneroo Raceway when PremiAir Nulon Racing's Golding had run wide at turn one. Wood made the most of his opportunity and moved into fifth on the inside, but Golding was unwilling to give up ground. With eight laps to go, Golding made side-on contact with the second-year driver and ended up running both cars off. Wood, who at one point was as high as second after qualifying fifth, was unable to finish the race. Golding finished 22nd after being slapped with a drive-through penalty for the incident. "I was racing someone that shouldn't have been in that position with the way he raced everyone else before that, and he finished me off, so that was pretty awesome," Wood told Fox Sports. "For someone that's pretty experienced, it was pretty piss poor. "I expect better than that, and I know I'm no princess out on the racetrack. "I race hard, but I'm pretty sure I race pretty fair most of the time, so I didn't feel like that was the case then." Golding apologised for the incident, with the pair seen talking in the garages after the race. "I got on the (tyre) marbles, and by that point, once you're on the outside, you can't really disappear," Golding told Fox Sports. "We're both racing hard. Unfortunately, when we bumped, it broke my steering, which pulled me hard right into him and ended his race. "Sorry to those guys, but we're all racing hard out there. "It's racing. S**t happens sometimes." Wood believed Golding should have been punished earlier for an incident with Triple Eight driver Will Brown. Golding was defending his position in fourth when the nose of Brown's car hit his right rear and sent him wide at turn seven. On-track aggression has been dialled up this year as the series undergoes a massive format shake-up. Wood has himself drawn scrutiny from stewards, handed a drive-through penalty in Melbourne after sending Erebus driver Jack Le Brocq into the wall on the opening lap. "There should have been penalties before that with the same driver," Wood said. "It doesn't matter when someone gets a penalty after they finish someone off, it shouldn't get to that point. "I'm sure I got a lot worse for a lot less this year." It is a frustrating end to the weekend for Wood, who had claimed the opening sprint for his first Supercars win. Wood was cruelly denied back-to-back wins on Saturday after suffering a suspension failure. "Just gutted for our whole team because they produced us with a race car to put ourselves in a position to win all three races this weekend," Wood said. "I don't know who's walked under a ladder or something, but yeah, definitely going to get some spells put on us for some good luck." Broc Feeney extended his championship lead by taking out the final sprint, followed by Matt Payne and James Courtney in second and third, respectively.
The Advertiser
08-06-2025
- Automotive
- The Advertiser
Flawless Feeney too fast with Perth back-to-back wins
Supercars championship leader Broc Feeney will leave Perth with a pair of victories after a near-flawless display in the final sprint race. Triple Eight ace Feeney survived late drama as he led from start to finish across the 83-lap, 200km race at Wanneroo Raceway on Sunday. It was the 22-year-old's fifth win of the season, adding to his haul of six poles and eight podiums. A safety car with 20 laps remaining threatened to cause chaos for Feeney. The first yellow flag of the weekend was brought out when Erebus rookie Cooper Murray came to a halt on the way to turn six after a suspected mechanical failure. It set up a re-staging of Feeney's showdown with Matt Payne in Tasmania, where the Grove Racing driver won by just 0.0550 seconds. Feeney was unwilling to lose to Payne again and he flaunted blistering pace to win by 0.5671 seconds. "To have the race like we did there, it was pretty - I shouldn't say smooth sailing - but a lot less stressful than it was at the end of the race," Feeney said. Triple Eight team principal Jamie Whincup couldn't say the same. "I was having deja vu, it's going to happen again," Whincup said. "I was just out front yelling ... I was having nightmares." James Courtney was the biggest beneficiary of the yellow flag, crossing the line third after qualifying 13th. It was a surprise podium for one-time Supercars champion Courtney, whose best result this year in the Blanchard Racing Team car was ninth in Tasmania. It is also Blanchard Racing's maiden podium since the team's entry in 2021. "I got so emotional," Courtney said. "It was me crying for a third." Tickford star Cam Waters was unlucky to finish fourth after starting in the first row with Feeney. Ryan Wood, after breaking through for an emotional maiden Supercars win the day before, had been as high as second before being ruled out of the race after a tangle with James Golding. PremiAir Nulon Racing's Golding had run wide at turn one with eight laps to go, allowing Wood to move into fifth. But Golding was determined to regain his spot and ended up running both cars off when they collided side-on. Golding, who finished 22nd, was slapped with a drive-through penalty for the incident. Reigning champion Will Brown was fifth after another hairy moment with Golding early in the race. Golding had been fourth and assertively defending his position when the nose of Brown's Triple Eight car hit his right rear and sent him wide at turn seven. Meanwhile, Wood's teammate Chaz Mostert was sixth after qualifying in 14th. Local product Brodie Kostecki was 11th after his hopes of a home victory were dashed when a poor qualifying effort condemned him to 15th. Cam Hill, after qualifying seventh, endured a nightmare start when his Matt Stone Racing car stalled at lights out. Suffering a battery issue, his car had to be towed back to pit lane. Hill was able to join the race and finished last. RACE 16 RESULTS: 1. Broc Feeney (Triple Eight Race Engineering) 2. Matt Payne (Grove Racing) 3. James Courtney (Blanchard Racing Team) 4. Cam Waters (Tickford Racing) 5. Will Brown (Triple Eight) CHAMPIONSHIP STANDINGS: 1. Broc Feeney (Triple Eight) 2. Will Brown (Triple Eight) 3. Matt Payne (Grove) 4. Cam Waters (Tickford) 5. Chaz Mostert (WAU) Supercars championship leader Broc Feeney will leave Perth with a pair of victories after a near-flawless display in the final sprint race. Triple Eight ace Feeney survived late drama as he led from start to finish across the 83-lap, 200km race at Wanneroo Raceway on Sunday. It was the 22-year-old's fifth win of the season, adding to his haul of six poles and eight podiums. A safety car with 20 laps remaining threatened to cause chaos for Feeney. The first yellow flag of the weekend was brought out when Erebus rookie Cooper Murray came to a halt on the way to turn six after a suspected mechanical failure. It set up a re-staging of Feeney's showdown with Matt Payne in Tasmania, where the Grove Racing driver won by just 0.0550 seconds. Feeney was unwilling to lose to Payne again and he flaunted blistering pace to win by 0.5671 seconds. "To have the race like we did there, it was pretty - I shouldn't say smooth sailing - but a lot less stressful than it was at the end of the race," Feeney said. Triple Eight team principal Jamie Whincup couldn't say the same. "I was having deja vu, it's going to happen again," Whincup said. "I was just out front yelling ... I was having nightmares." James Courtney was the biggest beneficiary of the yellow flag, crossing the line third after qualifying 13th. It was a surprise podium for one-time Supercars champion Courtney, whose best result this year in the Blanchard Racing Team car was ninth in Tasmania. It is also Blanchard Racing's maiden podium since the team's entry in 2021. "I got so emotional," Courtney said. "It was me crying for a third." Tickford star Cam Waters was unlucky to finish fourth after starting in the first row with Feeney. Ryan Wood, after breaking through for an emotional maiden Supercars win the day before, had been as high as second before being ruled out of the race after a tangle with James Golding. PremiAir Nulon Racing's Golding had run wide at turn one with eight laps to go, allowing Wood to move into fifth. But Golding was determined to regain his spot and ended up running both cars off when they collided side-on. Golding, who finished 22nd, was slapped with a drive-through penalty for the incident. Reigning champion Will Brown was fifth after another hairy moment with Golding early in the race. Golding had been fourth and assertively defending his position when the nose of Brown's Triple Eight car hit his right rear and sent him wide at turn seven. Meanwhile, Wood's teammate Chaz Mostert was sixth after qualifying in 14th. Local product Brodie Kostecki was 11th after his hopes of a home victory were dashed when a poor qualifying effort condemned him to 15th. Cam Hill, after qualifying seventh, endured a nightmare start when his Matt Stone Racing car stalled at lights out. Suffering a battery issue, his car had to be towed back to pit lane. Hill was able to join the race and finished last. RACE 16 RESULTS: 1. Broc Feeney (Triple Eight Race Engineering) 2. Matt Payne (Grove Racing) 3. James Courtney (Blanchard Racing Team) 4. Cam Waters (Tickford Racing) 5. Will Brown (Triple Eight) CHAMPIONSHIP STANDINGS: 1. Broc Feeney (Triple Eight) 2. Will Brown (Triple Eight) 3. Matt Payne (Grove) 4. Cam Waters (Tickford) 5. Chaz Mostert (WAU) Supercars championship leader Broc Feeney will leave Perth with a pair of victories after a near-flawless display in the final sprint race. Triple Eight ace Feeney survived late drama as he led from start to finish across the 83-lap, 200km race at Wanneroo Raceway on Sunday. It was the 22-year-old's fifth win of the season, adding to his haul of six poles and eight podiums. A safety car with 20 laps remaining threatened to cause chaos for Feeney. The first yellow flag of the weekend was brought out when Erebus rookie Cooper Murray came to a halt on the way to turn six after a suspected mechanical failure. It set up a re-staging of Feeney's showdown with Matt Payne in Tasmania, where the Grove Racing driver won by just 0.0550 seconds. Feeney was unwilling to lose to Payne again and he flaunted blistering pace to win by 0.5671 seconds. "To have the race like we did there, it was pretty - I shouldn't say smooth sailing - but a lot less stressful than it was at the end of the race," Feeney said. Triple Eight team principal Jamie Whincup couldn't say the same. "I was having deja vu, it's going to happen again," Whincup said. "I was just out front yelling ... I was having nightmares." James Courtney was the biggest beneficiary of the yellow flag, crossing the line third after qualifying 13th. It was a surprise podium for one-time Supercars champion Courtney, whose best result this year in the Blanchard Racing Team car was ninth in Tasmania. It is also Blanchard Racing's maiden podium since the team's entry in 2021. "I got so emotional," Courtney said. "It was me crying for a third." Tickford star Cam Waters was unlucky to finish fourth after starting in the first row with Feeney. Ryan Wood, after breaking through for an emotional maiden Supercars win the day before, had been as high as second before being ruled out of the race after a tangle with James Golding. PremiAir Nulon Racing's Golding had run wide at turn one with eight laps to go, allowing Wood to move into fifth. But Golding was determined to regain his spot and ended up running both cars off when they collided side-on. Golding, who finished 22nd, was slapped with a drive-through penalty for the incident. Reigning champion Will Brown was fifth after another hairy moment with Golding early in the race. Golding had been fourth and assertively defending his position when the nose of Brown's Triple Eight car hit his right rear and sent him wide at turn seven. Meanwhile, Wood's teammate Chaz Mostert was sixth after qualifying in 14th. Local product Brodie Kostecki was 11th after his hopes of a home victory were dashed when a poor qualifying effort condemned him to 15th. Cam Hill, after qualifying seventh, endured a nightmare start when his Matt Stone Racing car stalled at lights out. Suffering a battery issue, his car had to be towed back to pit lane. Hill was able to join the race and finished last. RACE 16 RESULTS: 1. Broc Feeney (Triple Eight Race Engineering) 2. Matt Payne (Grove Racing) 3. James Courtney (Blanchard Racing Team) 4. Cam Waters (Tickford Racing) 5. Will Brown (Triple Eight) CHAMPIONSHIP STANDINGS: 1. Broc Feeney (Triple Eight) 2. Will Brown (Triple Eight) 3. Matt Payne (Grove) 4. Cam Waters (Tickford) 5. Chaz Mostert (WAU)
West Australian
08-06-2025
- Automotive
- West Australian
'Piss poor': Wood slams race-ending Supercars incident
Walkinshaw Andretti United driver Ryan Wood has blasted James Golding's racing as "piss poor" after an incident ended his outing in Perth. The pair locked horns late in Sunday's 83-lap, 200km sprint at Wanneroo Raceway when PremiAir Nulon Racing's Golding had run wide at turn one. Wood made the most of his opportunity and moved into fifth on the inside, but Golding was unwilling to give up ground. With eight laps to go, Golding made side-on contact with the second-year driver and ended up running both cars off. Wood, who at one point was as high as second after qualifying fifth, was unable to finish the race. Golding finished 22nd after being slapped with a drive-through penalty for the incident. "I was racing someone that shouldn't have been in that position with the way he raced everyone else before that, and he finished me off, so that was pretty awesome," Wood told Fox Sports. "For someone that's pretty experienced, it was pretty piss poor. "I expect better than that, and I know I'm no princess out on the racetrack. "I race hard, but I'm pretty sure I race pretty fair most of the time, so I didn't feel like that was the case then." Golding apologised for the incident, with the pair seen talking in the garages after the race. "I got on the (tyre) marbles, and by that point, once you're on the outside, you can't really disappear," Golding told Fox Sports. "We're both racing hard. Unfortunately, when we bumped, it broke my steering, which pulled me hard right into him and ended his race. "Sorry to those guys, but we're all racing hard out there. "It's racing. S**t happens sometimes." Wood believed Golding should have been punished earlier for an incident with Triple Eight driver Will Brown. Golding was defending his position in fourth when the nose of Brown's car hit his right rear and sent him wide at turn seven. On-track aggression has been dialled up this year as the series undergoes a massive format shake-up. Wood has himself drawn scrutiny from stewards, handed a drive-through penalty in Melbourne after sending Erebus driver Jack Le Brocq into the wall on the opening lap. "There should have been penalties before that with the same driver," Wood said. "It doesn't matter when someone gets a penalty after they finish someone off, it shouldn't get to that point. "I'm sure I got a lot worse for a lot less this year." It is a frustrating end to the weekend for Wood, who had claimed the opening sprint for his first Supercars win. Wood was cruelly denied back-to-back wins on Saturday after suffering a suspension failure. "Just gutted for our whole team because they produced us with a race car to put ourselves in a position to win all three races this weekend," Wood said. "I don't know who's walked under a ladder or something, but yeah, definitely going to get some spells put on us for some good luck." Broc Feeney extended his championship lead by taking out the final sprint, followed by Matt Payne and James Courtney in second and third, respectively.
