A R3bn luxury apartment development at the Houghton Golf Club has been put on hold because of a financial dispute between contractors Murray & Roberts and the developer, Asvid Holdings, which evidently owes the construction company R150m.

The disparity between the lowest and highest paid employees in the construction industry is still stark, despite the attention that executive pay received in the aftermath of the global financial crisis

The new CE designate of Murray & Roberts, Henry Laas, says he has no immediate solutions for the group's financial woes, he hinted that the group would target the mining sector.

Construction group Murray & Roberts' CEO, Brian Bruce, has referred to collusion in SA as endemic.

'The twins are going, and theirs will be a tough act to follow,' M&R chairman Roy Andersen says of the retirement of CEO Brian Bruce and financial director Roger Rees.

Murray & Roberts shares continued to sink as investors took a rather dim view of its current arbitration proceedings, poor interim results.

Eskom defended itself against claims by Murray & Roberts of late payment for work done at the Medupi and Kusile power stations.

Credit Suisse Standard Securities has explored the notion of a potential future alliance between China based construction players and Murray & Roberts.

When SA was awarded the World Cup, construction firms 'came home' to work on the plethora of new public-sector infrastructure projects.

Murray & Roberts's strong performance in the prevailing difficult economic conditions is in line with that of other companies in the sector.