Yakka Munga cattle station WA sold to China 

A Chinese company which was part of the blocked bid for the Kidman cattle empire has finalised the purchase of a station near Broome despite attempts by One Nation senator-elect Rod Culleton to stop the deal.
The Australian arm of Shanghai CRED paid Buru Energy close to $10 million for Yakka Munga station and cattle in a deal that settled this week.
Yakka Munga was formerly owned by Pastoralists and Graziers Association stalwart Ruth Webb-Smith and her son Nathan, who maintain they should not have been kicked off the 189,000ha pastoral lease.
The deal with Buru comes a month after Shanghai CRED, operating in Australia as Shanghai Zenith, purchased Mt Elizabeth Station in the Kimberley. The company is also close to acquiring a string of stations in the Goldfields.
Mr Culleton has been helping the Webb-Smith family in attempts to reclaim the station they lost when the ANZ Bank moved to recover multimillion-dollar debts.
Buru trumped five other bidders, including Gina Rinehart, when Yakka Munga was put up for sale through receivers in 2014.
Nathan Webb-Smith, who until recently was contract mustering in the Kimberley, said yesterday his family was grateful for the work Mr Culleton had done to try to save their station.
“Admittedly, his approach is a bit unorthodox but the orthodox approach wasn’t working,” Mr Webb-Smith said. “It was never going to work and would have cost us millions in legal fees. He has kept a lot of farmers on their feet through his unorthodox approach.”
Mr Culleton said WA Lands Minister Terry Redman had ignored his requests not to approve the sale of Yakka Munga.
Earlier this year, the ANZ toldWestBusiness it was in negotiations with Ruth Webb-Smith and had made a “fair offer that would see her remain in her Perth home unencumbered”.
https://au.news.yahoo.com/thewest/countryman/a/32222237/chinese-firm-picks-up-cattle-station/#page1

16 Comments Add yours

  1. John Barton says:

    I dont like FLIED LICE so please dont sell any more to China Please

    Like

  2. Gayle says:

    Wake up you politicians what are you trying to do to our country ask yourself why foreign ownership want our land tell them to go home and use their own you don’t see us buying their land we wouldn’t be allowed not that we would want it

    Like

  3. Jillian Fox says:

    I am so angry that our government allows this to happen, especially with China’s attitude to us. We cannot go and buy property in China or many other countries, it is too easy for them. We need to protect our country.

    Like

  4. Eunice Helmore says:

    We are governed by a mob of traitorous knuckleheads. I wonder where they see our Country in 10 years time. Why the conspiracy in not allowing Australians to buy these properties. New Zealand had a policy of zero foreign ownership. .

    Like

  5. Rouella says:

    tge most Distructive & Pathetic Government Ever is Selling our Country to the Highest bitter > Shame on U Liberals Gov. > We need to get reed opf U asap U greedy Cerupt Clowns .

    Like

  6. Michael Moss says:

    This is so wrong, why do they want Australian land?…because their own country is ruined polluted and ruined… so they buy here…They will do the same here…WATCH!

    Like

  7. Jon Dobinson says:

    Shame! Some of comments are so wrong, make us look bad and racist only because they are Chinese. If this land was sold to the same lookings, I think most of us will shut our mouths, keep it going. Remember we are also migrants, but we have a very good rules, policies and laws and those will still protect us well from those foreigners investors.

    Liked by 1 person

  8. Peter Henderson says:

    At the very least we should have leasehold agreements with all foreign purchasers.

    Liked by 1 person

  9. Peter Berry. says:

    Wake up you do called politicians ::::::
    You wet elected to serve the people of AUSTRALIA get that AUSTRALIA.
    So how about taking your responsibilities seriously and start doing what’s right for our country , and start listening to the people who voted you into government
    OR MAYBE GET OUT IF YOU CAN’T DO WHATS RIGHT

    Like

  10. Frank says:

    I want a government with the balls to legislate to ban foreign ownership, convert all existing foreign ownership to lease agreements. With industries and rural enterprises locked into laws that require Aussie workers holding the jobs before any foreigners. Talk about the banks, they are all foreign owned, where is our bank? Where is our government looking after our interests….don’t bother looking, they are just a bunch of useless twits. I could use stronger words but I will refrain.

    Like

  11. Dwayne says:

    When senators cannot stop these sales who can.

    Like

  12. Marilyn Phillips says:

    Our Government should be ashamed of themselves

    Like

  13. Kirra Morton says:

    This makes me embarrassed to be Australian.

    Like

  14. Joyce says:

    How come Australia allows foreigners to buy up Australia? Other countries don’t allow this to happen. Arabic countries do not allow you to buy outright anything, you must have a national to own at least 51% of any purchase. China probably has th same ruling. Give our citizens a break, stop selling us off to the highest bidder.

    Like

  15. Roy says:

    Who did you vote for ? If you voted for Liberal Nationals or even Labor you are responsible .

    Like

  16. Marie Tully says:

    “Our” beautiful country as we knew it is disappearing at the decree of politicians in part, supposedly invested in retaining Aussie values. Previous comments have basically covered my feelings. Then again, I’ve yet to read “Chinese interests play increasing role in Australian political donations”.

    Like

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