‘Well known graziers the McMillan family are poised to scoop up the Wollogorang and Wentworth cattle stations in the Northern Territory and Queensland, owned since 2015 by Chinese ball bearings billionaire Ma Xingfa.’
-Mr Ma, who owns the Tianma Bearing Group – a massive ball bearing producer
AND as reported in July 2015 in the NT News ‘Chinese billionaire communist Xingfa Ma pays $47 Million for NT cattle station’ … Mr Ma is listed by Bloomberg as a member of the Chinese Communist Party and a former member of the Zhejiang Committee of the National People’s Congress.
THIS is a turn-up ‘for the Books’!! With Australian Graziers poised to scoop up these Australian cattle stations
- McMillans Poised To Scoop Up Chinese Billionaire’s Cattle Stations
Wollogorang cattle station on the shores of the Gulf of Carpentaria. Photo: Supplied
‘Senior industry sources confirmed the McMillan Pastoral Company, which owns Corella Park Station and Inorunie Station in Cloncurry in north-west Queensland and Calvert Hills Station in the Northern Territory was the contracted party.’
-the sale is highly conditional on the outcome of the cattle muster
-both the McMillan Family and selling agent Bruce Douglas from Ray White have not made a comment
‘Mr Ma bought the two cattle stations and 40,000 head of cattle for $47 million in 2015 from the Zlotkowski family. He spent a further $7 million upgrading the property, which produces good quality Brahman cattle.
He told the Financial Review in 2015 that he had acquired the two stations as an “experiment”. This was at a time when offshore capital was pouring into Australian farmland to gain a foothold in the production of beef, lamb and other proteins sought after in China.’
-amid the tougher farming conditions Chinese-owned Rifa Salutary also put up its entire portfolio of cattle stations up for sale last year
–Mr Ma also has other significant agricultural land holdings including Balfour Downs, Wananya and Emu Downs stations in Western Australia.
-and the Ferngrove Vineyards on the Frankland River, in WA’s Great Southern wine region.
–Wollogorang Station – about 500 kilometres north-west of Cloncurry – covers 576,198 hectares
–Wentworth Station 129,000 hectares, with the properties enjoying 80 kilometres of coastline and high reliable annual rainfall
Contrary to Mr Ma’s suggestion (as a member of the Chinese Communist Party) he would say that Australian agriculture needs foreign investment …
AUSTRALIA had previously bought back ‘The Farm’ … until the inundation of China’s ‘hot money’, and a compliant Foreign Investment Review Board … from which Australia’s biggest export would appear to be Australian Property Title Deeds!
-the McMillans last reported acquisition was in 2013 with the 481,000 hectare Calvert Hills for $15 million walk-in, walk-out, with 15,000 head of cattle
LET’s hope the McMillans retrieve what was ‘Ours’!
READ FULL REPORT:
McMillans poised to scoop up Chinese billionaire’s cattle stations
READ MORE: https://www.commercialrealestate.com.au/news/mcmillans-poised-to-scoop-up-chinese-billionaires-cattle-stations-940417/
Photo: NT News: Chinese billionaire Xingfa Ma has snapped up Wollogorang and Wentworth cattle stations on the shores of the Gulf of Carpentaria in the Northern Territory for $47 million. Picture: Supplied