Briefs

Press, 19 December 1986, Page 23

Briefs

Smart complex Auckland-based Smart Group (NZ), Ltd, will buy the Belltara Motel complex in Wellington for an undisclosed sum. The six-storey complex comprises 21 self-contained units plus a penthouse apartment. Cruise debut Auckland property and investment firm, Cruise Corp, Ltd, yesterday made a quiet debut on the New Zealand sharemarket with the 50c shares trading at 67c. Previously the activities of the company had been a mystery. However, a spokesman for broker, Whiteman and Co, said the company was an investment one with a pro-g-trfy base.

US deficit up The United States incurred a record deficit on its current account, the broadest measure of trade in goods, services and capital, of 5U536.38 in the September quarter, the Commerce Department announced. The shortfall beats the previous record for any quarter 534.48 in the previous three months — and highlights the problem of servicing the mounting United States merchandise trade deficit. BIL seat Mr Rodney F. Price, chief executive and a director of Industrial Equity, Ltd, Sydney, will join the board of Brierley Investments, Ltd, BIL said in a statement to the Stock Exchange.

Pudding Hill sold Jagwar Holdings, Ltd, has bought Pudding Hill Leisure Resort, the 140-bed complex near Methven and Mount Hutt, from Mr lan Giltrap, a Christchurch businessman. The price of the purchase by Jagwar, a joint tourist investment company of Omnicorp Investments, Ltd, and Contiki International, Ltd, was not disclosed. Advance notice The Reserve Bank is to give the financial markets advance notice of the release of major sta + ‘ cs and announcements. .ne bank said it previously released some data on an ad hoc basis, but said this could potentially cause unnecessary volatility in the financial markets.

Withdrawal Auckland sharebrokers Morrow and Benjamin have withdrawn from their stand in the market for National Pacific, Ltd, shares, the firm said in a statement to the Stock Exchange. Morrow and Benjamin had offered 130 c a share for 18 million shares in National Pacific on behalf of an unnamed, unlisted buyer. New listing St Martins Properties, Ltd, a property investment company formed by the Unity Group, Ltd, and Freightways Holdings, Ltd, listed on the Auckland Stock Exchange yesterday. The company said in a statement that it would make long term investments in strategically located, high quafjty real estate.

Ahuroa depth The Ahuroa-2A side track well near Stratford in Taranaki was at a depth of 2182 metres by 6 a.m. yesterday, Petrocorp said. At report time the well was drilling ahead. Total anticipated depth is 2950 m. The well is designed to test the hydrocarbon potential of the Otaraoa formation. Wool Board post The Wool board has appointed Mr David Priest as its London-based European manager, replacing Mr Noel Thomas. Mr Priest, who graduated from Lincoln College in 1974, was previously the general manager of UEB Yarns. |