CIMIC's construction subsidiary CPB Contractors has been told by Queensland regulators to prove it has enough cash to keep building projects like Brisbane's $5.4 billion Cross River Rail after concerns were raised over its financial viability.
The Queensland Building and Construction Commission (QBCC) is understood to have sent a letter to CPB Contractors on Wednesday asking why its license to operate shouldn't be suspended after the construction group refused to provide a Minimum Financial Requirement (MFR) report when its net tangible assets dropped below 20 per cent.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Bluesky: @jennywiggins.bsky.social Email Jenny at jwiggins@afr.com
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
