Major Logan builder ‘likely’ to go bust, QBCC warns
FEARS a major Brisbane construction company will collapse has prompted the state’s building watchdog to suspend its licence without warning as creditors demand cash.
The licence of DTM Constructions Pty Ltd, trading as QA Developments, has been suspended after an investigation by the Queensland Building and Construction Commission.
A QBCC probe into Logan’s
DTM Constructions determined there was “a real likelihood that the company may cause serious financial loss to subbies, suppliers and homeowners”.
The company’s directors, David and Thelma Ham, could not be reached for comment.
“A proactive investigation found that the company was either insolvent or likely to become insolvent and the director of the company had failed to respond to QBCC requests to contact and discuss concerns,” a spokesman for the watchdog said.
“The QBCC has so far received two moneys-owed complaints and the company does not meet financial requirements of holding a QBCC licence. We have also received a number of non-completion claims to the Queensland Home Warranty Scheme.”
Formed in 2008, QA Developments launched with a plan to build high-quality homes in South-east Queensland.
In the last financial year
DTM Constructions completed 71 jobs worth $13.7 million, according its QBCC licence report and, with a revenue turnover between $12 million and $30 million, is classed as a midrange company.
Mr Ham has more than 40 years of building and development experience.
He is also a board member of Answers In Genesis Australia, a ministry “dedicated to helping Christians defend their faith and proclaim the gospel of Jesus Christ.”
Mr Ham’s brother Ken is also the founder and CEO of Ark Encounter, the $100 million Christian religious and creationist theme park in the United States based on the biblical tale.
The centrepiece of the Kentucky park is a representation of Noah’s ark (pictured), measuring 155 metres long, 26 metres wide, and 16 metres high.
The QBCC has the power to immediately suspend a licence if it has potential financial loss or safety concerns.