Plans to privatise Lindeman Island National Park land, Chinese developers to build accommodation exclusive for wealthy tourist

NEARLY 37 hectares of Lindeman Island National Park will be privatised if the recommendations of an Environmental Impact Statement (EIS) released this afternoon are approved. The EIS details plans to privatise Lindeman Island National Park and place it in the hands of Chinese company, Whitehorse Developments, which will create exclusive accommodation for wealthy tourists. The…

Whyalla steelmaker Arrium to be sold to British company Liberty House

South Australian steelmaking business Arrium is to be sold to a British company and not the Korean consortium identified as the preferred bidder, the state’s Premier Jay Weatherill has confirmed. The business will be sold to Liberty House which is part of London-based GFG Alliance, with all Whyalla steelworkers expected to keep their jobs. “The…

Chinese billionaire buys Sydney’s Exchange Centre

One of China’s largest toy manufacturers, Chinese – Hong Kong billionaire Francis Choi, has emerged as the likely buyer of the Exchange ­Centre in Bridge St, Sydney. The near $340 million deal has sent shockwaves through the ­office market in Australia. The Guangdong Province native is a self-made billionaire who opened his first factory in…

Super funds call for register of foreign owned farms 

Industry superannuation funds have called for tougher foreign investment rules around Australian agriculture as they seek to ramp up their investment in the sector. Industry Super Australia, which represents not-for-profit industry funds, said quality Australian farming assets were being cherry-picked by foreign investors. Chief economist Stephen Anthony has called for a government register of foreign…

Aus owned Ansell sells condom division to Chinese consortium for $800 million

After 112-years of Australian ownership Ansell will sell its condom business to a Chinese consortium for $800 million. Ansell says the time is right to exit the fluctuating sexual wellness market and focus on rubber gloves. Ansell’s history dates back to 1905, when Eric Norman Ansell bought a condom machine from his employer, the Dunlop…

AusPost sells historic Sydney GPO to Singapore Giant Far East 

Singapore’s giant Far East Organization has swooped on the freehold of the historic Sydney GPO with a deal in train that will see the company own the bulk of the complex in a $150 million purchase. The group, which already owns a portion of the Sydney landmark, is buying the historic post office space and…

Australia’s best houses are being sold on Chinese social media site WeChat

Wealthy Chinese buyers are snapping up multi-million-dollar Australian properties with a live stream and a few clicks on Twitter-like WeChat. Imagine flicking through properties on your phone. Let’s say you’re laid back in your Eames chair, surrounded by your Qing Dynasty porcelain, sipping your Five Star Maotai and indulging in a bout of WeChat surfing….