WBHO leaves Australia

South Africa’s biggest construction company, Wilson Bayly Holmes – Ovcon (WBHO) is disinvesting from Australia, blaming the country’s hardline Covid-19 response as the reason. WBHO announced its decision on the heels of reporting a loss of R1.5-billion for the six months ended December 3. The company’s Australian operations were placed in administration earlier this year. The company said its had been unable to complete projects on time and recover claims, resulting in material operating losses of R988-million in the period under review.