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…

Chinese government trade bank may get mortgage over Darwin port

The Chinese owner of the Port of Darwin is using the port as security to seek a $500 million loan from the Chinese government’s trade bank.Private Chinese company  Landbridge is seeking the loan from the Chinese government’s Export-Import Bank (EXIM) to prop up the firm’s ailing Australian operations, which include an $880,000 yearly consulting fee…

Chinese investment in real estate grows to $32b: FIRB

Chinese investors topped the list of foreign investment approvals for the financial 2016, and have pledged to invest $47.3 billion in Australia, mainly in real estate, the latest Foreign Investment Review Board annual report shows. The figure is similar to the previous year when $46.6 billion in approvals was awarded to Chinese investors. Of China’s…

Foreign investment jumps 29 per cent to $248 billion last year

Victoria has emerged as the focus for overseas buyers of Australian homes, attracting 44 per cent of residential purchases by foreign investors last financial year. NSW, with 32 per cent of residential home purchases, was the second most popular state for an inflow of foreign property investment, according to the Foreign Investment Review Board’s 2015-16…

Chinese buying big in Australian agribusiness

CHINA’S investment in Australian agribusiness has tripled in just one year as China strives to meet rising demand for high-quality food among its growing middle class. In 2016, Chinese companies invested $1.2 billion in Australian agribusiness, three times the investment of $375 million in 2015, shows a report form financial services provider KPMG and the…

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…

Turnbull government will sell Badgerys Creek airport on completion

The federal government has confirmed it will sell the second Sydney airport at Badgerys Creek soon after it is built, following the Sydney Airport Corporation’s decision to reject taking on the project because it was too risky. After an announcement by Malcolm Turnbull that the project would now be part of the infrastructure package in…

Door opens for foreign state firms

Foreign state-owned businesses could escape the scrutiny of the Foreign Investment Review Board for deals worth up to $100 million, under a proposal being considered by Treasury. Treasury estimates that about 300 deals would be waved through each year without FIRB involvement if ­notification were made optional. The concession would overturn a longstanding policy that…

Libs looking to Asia to build new coal-fired power station in north Australia

The Turnbull government has opened talks with Asian investors to build a coal-fired power station backed by its $5 billion northern Australia fund, as half the nation’s voters endorse the use of taxpayer funds to develop the project and improve energy security. Resources Minister Matt Canavan is fast-tracking the plan amid a growing fight with…

Millions of welfare, Medicare files handed to US data giant Iron Mountain

2014 – Millions of Australians’ Centrelink and Medicare files are being handed over to a United States multinational corporation as the federal government closes filing warehouses around the country. A record management unit in Darwin has been closed by the Department of Human Services while a warehouse in Adelaide will shut next year. Storage units…

Aussie minority partner in pipeline as FIRB ponders China’s gas Duet bid 

The Foreign Investment Review Board (FIRB) is believed to have pushed back its ruling on Cheung Kong Infrastructure’s $7.5 billion takeover bid for Duet Group, with some suggestions the regulator could block the deal unless the Hong Kong group finds a local backer. Initially, it was expected that FIRB would rule on the takeover in…

Wa’s biggest Gas retailer Alinta Energy sold to Chinese company

Alinta Energy, WA’s biggest gas retailer, is being sold to a Chinese company following a dramatic last minute about-face on the company’s proposed $4 billion sharemarket float.Just a day after confirming the float had been delayed, Alinta revealed today the near 30 hedge funds and private equity owners which own the group had agreed a…