FIRB approves Canadian Dairy giant takeover of AUS oldest milk processor 

Canadian dairy giant Saputo has launched a bid to extend its ownership of Victorian processor Warrnambool Cheese and Butter, Australia’s oldest milk processor. Saputo’s Australian subsidiary already owns 88.02 per cent of WCB, after winning a bidding war against Murray Goulburn in 2014. In a statement to the Australian Stock Exchange, Saputo said it had…

China’s dodgy $1 billion in Australian property

Australian financial intelligence officials last year investigated more than $3.3 billion of suspect transfers by Chinese investors — including $1bn invested in property — raising concerns that Australia’s foreign ownership laws are being sidestepped by people desperate to get their money out of China. A total $3.36bn of suspicious financial transactions were reported in 2015-16…

Major Chinese developers to launch lobby group in AUS 

The new lobby group for major Chinese developers will follow the local model of the Property Council of Australia but with a focus on Chinese developers and Chinese investment in Australia  Major Chinese developers with billions of dollars worth of local construction projects under way are planning to launch their own lobby peak group, which…

Sheep farm sold for $95m to Singapore developer 

A Melbourne couple have hit a farming jackpot, walking away from their Wyndham Vale sheep farm in the city’s west with $95 million after Frasers Property purchased the landholding. The family, who didn’t want to be named, sold their Black Forest Road farm which they purchased in the 1970s, to the Singapore-based property developer, scooping…

Gina appoints former NT chief Adam Giles for new pastoral position  

Australia’s richest business woman Gina Rinehart is to have a presence in Darwin and former Chief Minister Adam Giles will be it.Mr Giles has been appointed the General Manager of External Affairs Pastoral for Australia and he will be basing himself in Darwin. The business presence of Ms Rinehart in Darwin has been welcomed by…

Chinese New Year tipped to bring property buyers from China to Melbourne

CASHED-up property buyers from China are expected to flock to Melbourne next week, as Saturday’s Chinese New Year kicks off one of their peak househunting periods. Australia, and Melbourne in particular, are tipped to be top destinations during this year’s “Chinese Lunar New Year Golden Week” — a week-long national holiday when millions of Chinese…

Minister accused of misleading over plans to resume QLD farms 

DEFENCE Minister Marise Payne has been accused of misleading Parliament over plans to resume Queensland farmland under a lucrative military deal with Singapore due to fears it would cost the Turnbull Government votes. State Agriculture Minister Bill Byrne yesterday said Senator Payne and Department of Defence bureaucrat Peter Baxter misled a Senate Estimates hearing last…

Nothing to fear about the rise of China : Bill Shorten 

Labor leader Bill Shorten has told Chinese New Year celebrations that Australia has nothing to fear about the rise of China. Australia has nothing to fear about the rise of China, Bill Shorten believes. The Labor leader made the remark while joining Chinese New Year celebrations in Melbourne on Saturday, welcoming in the year of…

China-owned John Holland & CCCI break into residential development 

Chinese state-owned engineering and construction  John Holland is set to diversify into residential development and hotel investments with a $1.1 billion budget funded by its new parent company, Chinese infrastructure and engineering behemoth CCCC International Holding. John Holland will establish a new development and investments group which will generate new business in property development, infrastructure public-private…

Tense countdown on drought support payments for 1634 farmers

MORE than 1600 cash-strapped farmers throughout Australia – mostly those who have suffered prolonged droughts in Victoria, Queensland and NSW – are potentially headed for a fiscal cliff-face with a ticking clock set to expire on government income support. The National Farmers’ Federation (NFF) has called on the government to ensure a clear communication strategy…

Chinese $7.3b bid for WA’s Dampier-Bunbury gas pipeline Duet group 

WA’s key piece of energy infrastructure could become foreign-owned by Chinese billionaire Li Ka-shing’s Cheung Kong  under a $7.3 billion offer for DUET Group, raising further questions about Premier Colin Barnett’s privatisation plans. DUET, owner of the Dampier to Bunbury gas pipeline and other national energy assets, said yesterday Hong Kong billionaire Li Ka-shing’s Cheung…