Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor,

Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…

House prices face China exodus risk, says former top US Federal Reserve Economist

Soaring house prices are vulnerable to a sharp downturn that would damage the local economy if Chinese buyers retreat from residential property in Australia, a former top US Federal Reserve official has warned.Nellie Liang, who recently visited Sydney and shared her thoughts on financial stability research with the Reserve Bank of Australia, told The Australian Financial Review policymakers…

Aussies accepting farm sales to China claimed Australia-China Relations Institute

Australians are not as opposed to Chinese investors buying local farms and agricultural assets as often claimed, the Australia-China Relations Institute said. Institute deputy director James Laurenceson said a survey by the group showed the Australian public was more nuanced and sophisticated about the benefits and disadvantages of greater foreign investment in agriculture by Chinese…

Qatar’s $500m food bank farms in Australia

The murky world of Middle Eastern politics, Islamic extremists and terrorism seems far away as a mob of sheep with young lambs at foot quietly graze the daisy-flecked paddocks of Barton ­Station against a backdrop of ­Victoria’s spectacular Grampian ranges. Experienced agribusiness boss John McKillop hopes it stays that way. Mr McKillop heads Hassad Australia,…

Wycheproof farms sold to Chinese-backed company Rifa Salutary

THE rapid rise of Chinese-backed pastoral company Rifa Salutary as a major agricultural player continues, with its purchase of two farms at Wycheproof in an investment worth about $9 million. Rifa Salutary chief executive David Goodfellow confirmed the purchase of Kulwin Park and McNicholl’s, covering 4534ha, from father and son vendors Murray and Mich­ael Stapleton….

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…