The head of the New Zealand branch of troubled Australian engineering firm Hastie Group says it is working as normal despite the company going into voluntary administration in Australia.
Hastie Group says it and its 44 subsidiaries in Australia have appointed voluntary administrators due to its mounting financial woes.
The company was in talks with banks and new investors last week but that broke down when Hastie discovered an employee had been falsifying the company's accounts.
Hastie Group employs about 7000 staff worldwide, including about 500 in New Zealand.
Hastie Group New Zealand chief executive Brett Laurent told AAP on Monday it was "business as usual for us".
He referred any further comment about the administration issue to receiver Andrew Grenfell of McGrath Nicol, who could not be immediately contacted for comment.
The company's website says the New Zealand branch was formed in 2001 after winning a contract to provide mechanical services installation at Auckland Hospital.
It has contracts in Auckland, Tauranga, Palmerston North, Wellington and Christchurch, as well as service branches in other parts of the country.
Other NZ-based Hastie businesses included Aquaheat Industries, Professional Building Services, Medical Gas services, Cowley Refrigeration, Gordon Refrigeration and Project Piping Ltd.
Hastie announced earlier in May that its first-half earnings would be reduced to zero, following two write-downs in November and a $A150 million loss for the six months to December 31.
The company's investigations into irregularities in its accounts, which date back to the 2008/2009 financial year, are expected to amount to a $A20 million charge to its profit for this financial year.
The employee who admitted altering figures has been suspended, and a second employee involved was expected to be disciplined, the company said.
Some current and former senior management are also believed to have participated in the irregularities.
The issue has been referred to the Australian Securities and Investment Commission.
