CONSTRUCTION INDUSTRY – NEW SOUTH WALES

Contractors face crunch on cash flow

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Original article by Michael Bleby
The Australian Financial Review – Page: 1 & 6 : 19-Jul-21

The New South Wales government has imposed a two-week shutdown on construction across greater Sydney as part of its response to the COVID-19 outbreak. Shopping centre developer and owner Scentre Group responded to the shutdown announcement on 17 July by advising that it would close construction sites and place a halt on all shop fitouts at its Westfield centres across greater Sydney, while Multiplex closed all five of its construction sites in Sydney. BuildCorp boss Tony Sukkar says most companies within the construction sector should survive if the shutdown only lasts for two weeks, but things would become more problematic if it is extended.

CORPORATES
SCENTRE GROUP – ASX SCG, BROOKFIELD MULTIPLEX LIMITED, BUILDCORP COMMERCIAL PTY LTD

CFMEU deal a threat to post-virus recovery

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 2 : 3-Jun-20

More than 100 subcontractors have signed up to the Construction, Forestry, Maritime, Mining & Energy Union’s new pattern agreement in New South Wales. Master Builders Australia’s NSW executive director Brian Seidler claims that subcontractors agreed to the deal under duress, and he has warned that it will result in a big rise in labour costs. The pattern agreement includes a pay rise of five per cent and a rostered day off every second Monday. The CFMMEU’s NSW secretary Darren Greenfield argues that construction industry workers deserve the pay rise as they kept working during the coronavirus lockdown.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED