Major 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.
"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 $12m and $30m, is classed as a mid-range company.
Mr Ham has more than 40 years of building and development experience.
He is also a board member of Answers In Genesis Australia, an apologetics ministry "dedicated to helping Christians defend their faith and proclaim the gospel of Jesus Christ."
Answers in Genesis' Australian store was previously located in the Logan office of QA Developments.
Mr Ham's brother Ken is also the founderand 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, measuring 510 feet long, 85 feet wide, and 51 feet high.
The QBCC has the power to immediately suspend a licence under serious circumstances, including potential financial loss or safety concerns.
The QBCC is calling for anyone which has an ongoing contract with DTM Constructions to get in touch.