A MILK factory in Tasmania’s North-West has been sold to a Thai company on the eve of its closure. Murray Goulburn announced earlier this year it would close three factories — including the Edith Creek UHT plant near Smithon — by the end of the year. More than 120 workers were employed at the Tasmanian…
Month: November 2017
Bindaree Beef wins $30 million court case against Chinese customer
Bindaree Beef’s Chinese government-owned partner in an export deal gone bad has been lashed as “lacking any commercial moral compass” and ordered to pay the Australian company more than $30 million in compensation. The deal between Bindaree and Chinatex, a Chinese state-owned corporation, was sealed in mid-2015 and was supposed to have seen Bindaree kill…
Dutton signs trade deal with China
Immigration Minister Peter Dutton has signed a Mutual Recognition Arrangement with China, in a move aimed at boosting trade between the two countries. Mr Dutton and Minister of China Customs Yu Guangzhou signed the agreement in Canberra today, enabling the countries’ customs and border protection departments to recognise each other’s Authorized Economic Operator programs. Australia…
China will finance Adani mine, insiders say, but it will cost Australian jobs
The Adani Group is close to securing finance for its controversial coal mine and railway project in outback Queensland, with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture. Australian taxpayers may be let off the hook under the deal, which could mean Adani no…
No place for anti-China thoughts, Chinese students taught to ‘snitch’
Chinese students taught to ‘snitch’ on politically incorrect lecturers The war being waged by Chinese international students against “politically incorrect” lecturers in Australia hasn’t emerged out of the blue. It has flowed out from China’s increasingly regimented education system. It has come from a cohesive approach pursued over the past five years by the Chinese…
Foreign ownership surcharge could turn buyers away, agents warn
Foreign investment surcharge could turn buyers away from South Australia, agents warn Real estate agents specialising in overseas investors have warned the South Australian Government the way a new levy on foreign investment in residential property is being applied will damage the state’s reputation as a good place to invest. Treasurer Tom Koutsantonis last week…
Chinese police seize 14,000 bottles of counterfeit Penfolds wine
THOUSANDS of bottles purporting to be Penfolds’ top-shelf wine have been seized in an anti-counterfeit operation in China. Chinese police seized 14,000 bottles of counterfeit wine following a complaint by Penfolds’ parent company Treasury Wine Estates about three months ago. The fake premium products were sold through Chinese giant Alibaba’s consumer-to-consumer website Taobao with sales…
130-year-old Brownes Dairy sold to Chinese firm.
One of Western Australia’s most recognised household dairy names — the 130-year-old Brownes Dairy — has been sold to a Chinese firm. Brownes chief executive Tony Girgis announced today the private equity group Archer Capital had sold the company to Shanghai Ground Food Tech, who they described as “experienced dairy operators who understand the industry”….
China’s rise a threat to Australia’s security
‘Overhaul nation’s defence strategy’ to handle China’s rise, experts warn Australia needs a new defence strategy to deter, and if necessary, defend itself against an increasingly powerful, aggressive China, two of the nation’s most experienced strategists have warned. Former senior Defence officials Paul Dibb and Richard Brabin-Smith say the nation faces an increased prospect of…
Chinese -owned Alinta energy bids on Vic coal power station Loy Yang B,
The future of another Australian coal-fired power station, Engie’s Loy Yang B, will be decided in the coming week. Street Talk understands Alinta Energy owner Chow Tai Fook Enterprises and Delta Electricity tabled final bids for the brown coal power station in Victoria’s LaTrobe Valley. Brookfield and China Resources were also said to have been in…
Traralgon farming family hit with $40K rates bill after council rezoned their land
FIVE generations of farming is under threat in Traralgon because of a council gouge that increased a family’s rates to $40,000 a year. The Marshall family has worked 325 acres of land on the outskirts of the rural city since 1928. But they are now swimming in debt because of the rates, and wondering how…
Yougawalla Pastoral Company sells Cattle stations to Hong Kong billionaire
The Kimberley’s Yougawalla Pastoral Company, has found a new owner — Hong Kong billionaire Hui Wing Mau. The total investment has not been disclosed, but is believed to be worth $70 million. Mr Hui is the founder of Hong Kong property developer Shimao Group, with projects in Asia and Australia. And now one of China’s…
