Watchdog suspends national home builder’s licence
THE Queensland operations of national homebuilder Simonds Group has had its licence suspended by the building watchdog.
Melbourne-based Simonds Group told the ASX today that it had received notification of the suspension by the Queensland Building and Construction Commission (QBCC). The licence related to its wholly owned subsidiary Simonds Queensland Constructions.
QBCC records show the notice of suspension was issued on Thursday for failing to satisfy financial requirements to operate in Queensland.
Simonds says the suspension was due to a "technical licensing breach" and the company working with the QBCC to address the issue.
It said that in the interim, all current building works across its Queensland operations had been suspended pending reinstatement of the licence.
Queensland represents less than 10 per cent of the group's annual turnover of $605 million. No other regions are impacted.
In April, the QBCC said more than 100 construction companies had failed to lodge proof of their financial health with the watchdog abd faced being banned from taking on new work.
The QBCC suspended the licence of Laing O'Rourke's Australian arm in March after becoming concerned about its financial viability.
The suspension meant Laing O'Rourke was banned from doing any building work in the state. The license was later reinstated after Laing O'Rourke injected $32 million into its local operation.