Territory Stories

Katherine Times Wed 24 Jan 2018



Katherine Times Wed 24 Jan 2018


Katherine Times; NewspaperNT






Australian newspapers -- Northern Territory -- Katherine; Katherine (N.T.) -- Newspapers

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North Australian News for Katherine Times

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Copyright. Made available by the publisher under licence.

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North Australian News for Katherine Times



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NEWS Wednesday January 24, 2018KATHERINETIMES2 katherinetimes.com.au The KatherineTimes is published by Fairfax Media. ABN: 34 010 272 241, ACN 010 272 241, at 4/22 KatherineTerrace, Katherine.Telephone (08) 8972 1111. *Recommended and maximum price only. Freight surcharge extra. General inquiries: (08) 8972 1111 Fax: (08) 8971 0120 Visit/Post: PO Box 42 Katherine, 0851; 4/22 Katherine Terrace, Katherine, 0850 The Katherine Times is published every Wednesday and can be read online seven days a week at www.katherinetimes.com.au. Wewelcome inquiries on the platforms below. CONTACTS Sandalwood collapse SANDALWOOD company Quintis has collapsed with Korda Mentha appointed as administrators. Quintis has large sandalwood plantations located in the Katherine area. The Perth-controlled company owns sprawling plantations and nurseries across more than 2550 hectares in Katherine. Quintis has a large office on the Victoria Highway. Last year share advisers drew parallels with the man aged investment schemes relied on by the sandalwood group to those also involved in the financial disasters of the Great Southern and Timbercorp plantations a decade ago. Quintis is listed on the Australian Securities Exchange and owns and manages more than 12,000 hectares of Indian sandalwood plantations across northern Australia. Quintis, formerly the TFS Corporation, is the worlds largest producer of sustainable Indian Sandalwood, which had a listed market capitalisation of about $600million. In a statement issued on Sunday, Quintis said institutional plantation investor Asia Pacific InvestmentsDAC exercised an option requiring Quintis to acquire 400 hectares of plantations for $37 million but Quintis said it did not have the money to pay. Shares in Quintis have not traded sinceMay. The business has 200 employees. Richard Tucker, Scott Langdon and John Bumbak of KordaMentha have been appointed as voluntary administrators of Quintis. Black Rock is Quintis' major creditor. It is expected that McGrathNicol will be appointed as receivers and managers of Quintis' secured assets. We are very disappointed with this outcome given the huge efforts made over the last nine months to recapitalise the Company in order to deliver its sustainable future," said Quintis chairman Dalton Gooding. In light of the recent announcement from Quintis to enter voluntary administration, the NT Government this week said it would review their status under the Major Project Status policy. That status may be reviewed in certain circumstances. WORRYING FUTURE: Quintis has large sandalwood plantations located in the Katherine area and an office on the Victoria Highway. TWO Royal Australian Air Force Super Hornets have flown theAustralianAir Task Groups final strike mission over Iraq. Australian F/A-18 Hornets have conducted continuous operations in Iraq since their first mission in October 2014, flying more than 2700 sorties over 21,000 flying hours. Tindals No. 75 Squadron has been heavily involved in the Middle East deployments. They operated within a US-led Global Coalition. LASTMISSION FOR HORNETS # Rain, storm FRIDAY 24 31Max:Min: # Showers, storm SATURDAY 23 30Max:Min: # Showers, possible storm WEDNESDAY 23 31 # Rain, possible storm THURSDAY 23 32Max: Max:Min: Min: KATHERINE only had a further 9mm of rain on Monday despite the presence of the monsoonal trough. Katherine River heights at the Nitmiluk gauge and the railway bridge are starting to fall. The Bureau of Meteorology is continuing to issue warnings with more rain forecast throughout the week. The monsoon trough lies near the base of the Top End. A tropical low has developed within the trough over the Carpentaria Coastal Rivers. MONSOON CAUSES RIVER RISE FIND US ON FACEBOOK # News 1-6 # Remembrance 8-9 # Opinion 10 # Top End Tales 11 # Connect to Country 12 # People&Places 13-14 # Domain 15-16 # Puzzles 17 # Classifieds 18-21 # Flood in pictures 22 # Sport 23-24 Corner Giles and Cameron Streets, Katherine Phone: 1800 222 511 | Find us on Facebook HAPPY HOUR THIS SATURDAY AT KNOTTS CROSSING 27th January 2018. 4pm to 6pm $15 including a standard Beer or House Wine $25 including 2 standard Beers or House Wines LARGE PIZZA REGULAR PIZZA Bring in this ad to receive a FREE Garlic Bread with your Pizza. A W 33 16 54 1 Katherine Accounting Services 16 Fourth Street, Katherine Phone: 8972 3384 Fax: 8911 1240 Save $$$$s on late lodgement fines and interest. Hand over your bookkeeping and we will get you lodged on time, every time! A W 31 39 34 3 t Your preferred BFGoodrich & MICHELIN supplier P: 8972 3530 E: atuffkat@bigpond.com 22 Gillard Cres, Katherine CAR, 4WD, TRUCK & TRACTORS AW2061431 WE HAVE TYRES AND BATTERIES FOR YOUR

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