Photo: John Hollad and WestConnex Lilyfield Road Rozelle Interchange
HAVE you noticed that when in a conversation that sometimes if one is to question what is happening in Australia concerning policies, projects, the Ministers, or MPs that LNP supporters will retort with an allegation like this from Greg Hunt …
‘When Rowland pressed the point that taxpayers paid for the vaccines, Hunt attacked his motives again.
‘I know this is an issue for you. In many ways, you identify with the left,’ Hunt said.
“No, no, minister, I find that offensive,” Rowland responded.
That the same Party supporters will label one, and go so far as to say ‘You’re a Communist!’
SHOULD one be equally rude and retort with “Does that make you a Fascist?’
WHY can’t we Voters hold our Government to account?
WHICH Party appears to have been in, or under the beds MORE with the Reds?
COULD it be that many of the same people who retort with such a slur just so happen to have shares, portfolios in JOHN HOLLAND?
AS they prosper at the expense of Australian workers who find themselves en route of one of the all too numerous tentacles of WestCON X now crisscrossing Sydney … these same workers supporting industry on the lowest wages for almost a decade …
IS that thanks to ‘the Fascists’ OR are they too ‘Commies’?
Key Points … CCCC after acquiring Australia’s defence projects construction company …
-CCCC, the first big Chinese group to build Australian roads and bridges
-to get a foothold in multi-billion dollar infrastructure projects
-CCCC has taken over tunnels and stations for North West Rail Link, Perth’s Children’s Hospital, Victoria’s regional rail link
-the deal followed the Free Trade Agreement (FTA) with China; allows Chinese Visa Workers to build projects in Australia
-Leighton released details of Mr Fernandez Verdes’ pay package after the Spaniard replaced Hamish Tyrwhitt as CEO
RELATED ARTICLE: ‘Liberated by the Chinese John Holland blossoms under CCCC Ownership’
When John Holland Chief Executive Joe Barr walked into the boardroom of Canadian Construction Group AECON in November, he faced 40 anxious people in suits. AECON had just been acquired by China Communications Construction Company (CCC) – the same Chinese Group that had paid $1.15 Billion to buy John Holland two years earlier. (Paywall)
DOES it appear that the role of the Foreign Investment Review Board (the FIRB) is to look after the wealth portfolio of their client base, largely the Property Sector … ?
CAAN has a look at a document alleged to be ‘The Facts about Foreign Buyers’ … of Australian Real Estate from the Real Estate Institute of Australia …
WITH the development of Fiefdoms across Sydney … known as High-rise Precincts, does this Sector seriously believe that Australians cannot see what is going on?
OBVIOUSLY these ‘Fiefdoms’ evolved due to the high cost of tiny lots in the Sydney CBD and the inner circle suburbs …
PERHAPS this has something to do with the evolution of so many HIGH-RISE PRECINCTS across Sydney … where developers could buy large lots at a fraction of the cost … to sell to a huge overseas market!
THE HIGH-RISE PRECINCTS across Sydney that look like Fiefdoms … were proposed dating back to 2012! Facilitated by high immigration and Visa manipulation.
When their suburbs are being inundated with people from overseas particularly since 2015 from Mainland China … that as at 2015 many Australians were outbid at house auctions – largely attended by these Visa holders or their onshore Proxy, and that this experience continued … until there was a change with Realtors cancelling auctions to conduct sales inhouse …
In this frenzied environment prices of homes escalated … perhaps unbeknowns to many at that time (2015) investment of $1.5M in a home correlated with an Investment Stream Visa … which no doubt also contributed to the price hike!
YES, why do we need ‘foreign investment’ which are in fact foreign acquisitions’?
The answer to this perhaps goes back to lobbying by this sector in 2008/09 when they were able to convince the government with ‘the Sting’ that they needed to increase their overseas marketing sales from 50% to 100% of ‘new homes’! They then got an FIRB ruling!
AND Australia not only has had high immigration but a backdoor to migration through Visa Manipulation with Temporary Visa holders able to gain ‘Permanent Residency’ when they bought our real estate …
As reported, the FIRB to date in November 2018 had not carried out a single prosecution against foreign buyers who had failed to comply with our laws on buying our real estate!
WHY is it that temporary Visa holders can purchase our land, an established home and a number of ‘new homes’? … How can that be of any benefit to Australians? With so much competition in the market?
Amanda Lynch, the former CEO of the REIA suggests that without foreign money many new developments would not be possible … of course not because they would bloody well not be needed!
Constituents especially Our Youth do not need them either because they are priced out, or because we resent this ugly inundation of High-Rise Precinct Fiefdoms across Sydney …
Rentals are only now coming down due to the Pandemic with so many having lost their jobs and/or business owners have had to break their leases … forcing landlords to reduce the rents to gain new tenants …
Previously it was said that Chinese buyers were targeting homes valued at less than $1M which is the market normally for Australian First Home Buyers. However, Ms Lynch puts that these foreign buyers are acquiring properties valued at more than $1M …
That could possibly be the case with reports that some ‘buy a whole floor of an apartment development’ … CAAN was notified of this happening in Asquith!
AND there are no limits on the number of ‘new homes’ they can buy!
WHY wouldn’t the REIA believe that this huge foreign market was good for this Sector? As the supply was built for these foreign buyers … a possible 1.4 Billion of ‘em!
The suggestion that this increased the supply of rental properties is readily disputed due to the numerous reports of ‘foreign buyer’ dwellings left vacant and pristine.
Have you noticed in your area such empty dwellings? We know of a ‘block of flats’ that has remained empty for more than 12 months; recently it has been lit up of a late afternoon with blinds half open; some move up and down a little periodically (on a timer), and the lights on one balcony remain on all day and all night. No-one is ever seen to enter, or leave … mail and flyers ooze out of the letterbox …
From a record $72B foreign buying spree in our real estate in 2015/16 it is alleged to have dropped to $30Bdespite the increased housing development in that period …
Could that be explained by the presence of the onshore Proxy, and/or the foreign buyer having gained a PR Visa through online purchase?
What the Institute omits to refer to are the vast number of UHNW and HNW acquiring our real estate who were not discouraged by increased stamp duties, nor banks tightening lending because it would seem that they deal in shadow banking … and Black Money … what did make a difference in or about 2018 was China’s capital controls! Since lifted …
WITH the FIRB role of ensuring this foreign buyer market in Australian ‘new homes’ …
DOES it seem that this is the very reason for the existence of the FIRB?
The fees of $5000 or $10000 are nothing to those of High Net Worth …. Temp. Visa holders who buy our real estate can fast-track to gain a ‘Permanent Resident Visa’
AND there are no limits on the number of ‘new homes’ that foreign non-residents can buy; they only have to seek FIRB approval … for whatever that means!
FURTHER … they can buy an established home for redevelopment … hence many beautiful Heritage and Mid Century Homes demolished allegedly to increase housing stock …
Possibly for even more ‘foreign buyers’?
About the Facts on Foreign Buyers of our Real Estate from the Real Estate Institute …
CAAN Photo: First Tower of ‘Destination’ Talavera Road Macquarie Park
THERE is more to this than meets the eye!
The first Meriton Tower for ‘Destination’ in Talavera Road Macquarie Park at 28 June 2020 is now some 22 storeys … and it is expected to be completed with 27 storeys early 2021!
IMAGINE how the 63 Storey Tower will dominate!
This Meriton development is for 1270 units in Macquarie Park.
Wondering how many of the 1270 apartments are sold? And to who? HT has previously said:
“The problem with Australians is they are very slow. They ask their lawyer, they ask their financial adviser, they ask their family, they ask everybody. The Chinese don’t ask anybody, they come off the plane, buy their unit and go.”
“China has more than 1 billion people,” he said. “And they love Australia. I think they love Australia as much as we love Australia. So there will always be enough of them that will buy.”
What will happen now? With further outbreaks of CV-19?
Will these CCP members have already gained ‘Permanent Residency’ when they purchased? What then?
Will AUSTRALIA be safe? How can a ‘PR VISA’ ensure they will be COVID-19 free?
Recent report (shared on CAAN) there are no changes to foreign investment in real estate …
-the changes leave existing gateways for investment largely untouched
-little has changed for key investment sectors such as mining, residential, industrial and commercial real estate and agribusiness land and enterprises
• There are no significant changes proposed to the rules regarding residential real estate
Another aspect to this is that in Macquarie Park there has been a complete demograhic change … it has visibly been underway since about 2015 …
Macquarie Park was originally a Business and Information Technology Park which created local employment …
But what now? With largely foreign buyers of these apartments particularly from China it would appear they are in the “box seat” for employment …
MERITON is everywhere … in every direction across Sydney … in the Sydney CBD … Chatswood … Epping … Sydney Olympic Park … Rhodes … Meadowbank … Pagewood … Parramatta … Abbotsford … Hurstville … Burwood … here in Macquarie Park with a couple of precinct developments …
MERITON is up on the Gold Coast and down in Melbourne
MERITON has apartments for sale … for rent … serviced apartments for tourists and hotels!
Now the community of ‘Little Bay’ are opposing a monstrous precinct. It began with the Little Bay Masterplan
-it was approved in 2009 allowing for 450 dwellings to be built in buildings up to five-storeys (18m)
–Meriton then sought consent to build 1900 dwellings in multiple mid and high-rise with maximum height of 22 storeys (73m)
It has now been rejected by the Council … however … HT has its own legal counsel …
Remember the interview with Jane Hutcheon on ‘One Plus One’ “
JANE HUTCHEON: Do you feel you have had a hand in the way the Sydney landscape has changed?
HARRY TRIGUBOFF: Well, since I am not a modest person I say I had the biggest hand in it because I devoted myself to Sydney. I did a little bit in Queensland, but absolutely I am Sydney! …. .
IT would seem that the Planning Law changes were long in the making … remember HT said when he arrived in Sydney:
“I looked at Bondi Beach. Bronze bodies. Unbelievable. I looked at the red roofs. No flats, [just] cottages everywhere.’ So is this why Harry set about changing the built environment … ?
HOW much longer will we have to deal with the Wuhan Pandemic of 2020?
It may well be years …?
With its awful ramifications for our Society … jobs market … our economy … and the threat of an insidious disease remaining …
Frank Lowy … we note was the former Chairman of Westfield, a global shopping centre company … so perhaps this would have some bearing on the way the questions were put together for this survey?
Mr Lowy it would seem has really enjoyed the benefits of ‘Globalisation’ … and the Liberal Coalition policies which would no doubt have contributed to the expansion of Westfield … like his fellow AFR Rich Listers with the real estate tourism … the World-wide expansion of the Westfield chain of shopping centres …
AND … Lowy is the founder of the Lowy Institute described as the Nation’s leading foreign affairs think tank also described as ‘neoliberal’ …
So with all that … it is put that Aussies still believe in globalisation contrary to the rest of the planet who are falling back to nationalism, and protectionism.
So where do these 2448 respondents to the survey come from? And how were the questions framed concerning the bushfires, climate change in the midst of the Pandemic in March with businesses closing and jobs lost?
In 2019 many had already been subject to underemployment let alone those made redundant before this Pandemic so it is not surprising that only 65% were optimistic. Now only 52% feel optimistic about the economy …
IT would seem it has taken the Worldwide devastation of the CoronaVirus for Australians to finally grasp the need to withdraw from China … to diversify our markets …
–a mere 23% of Australians trust China; a 29 point drop in 2 years
The latest data issued by the Government reveals that 8000 people have flown here since the closure on 20 March! Between 20 March and 1 June 2020!
On Wednesday 10 June Australia had only two new cases of Covid-19. Both had returned from overseas and were in Sydney in hotel quarantine.
How come not all travellers are forced into quarantine?
Not everyone has been forced into quarantine when they arrive in Australia – and some returned travellers, including a diplomat who lives in Canberra, have exposed others to the virus.
Those exempt include:
-airline and boat crews (excluding cruise ships)
-unaccompanied minors can seek exemption as with those on compassionate or health grounds
Most returning were citizens or Permanent Residents. With the increase in Permanent Residency since 2013 particularly from China through Real Estate Tourism perhaps stronger measures ought to be taken? They may not have spent long prior here in Australia …
What could be more compelling than ensuring the well-being of Constituents? Why increase the risk for Australians from some foreigners made exempt due to compassionate or compelling reasons?
The WHO has advised that it can take longer than 14 days to become infected!
So a traveller could be infected with the virus after release from hotel quarantine.
Government funding for Qantas and Virgin Australia has run out with these airlines now regrounded for international flights. Yet some overseas airlines have resumed flights to Australia!
Four new CoronaVirus cases from returned travellers were found in a Melbourne hotel last week with hotel staff members in self-isolation!
CAAN takes a look at a report by Peter Jennings on Foreign Investment Laws
DESPITE the huge sell-out of Australia since 1975 through the foreign acquisition laws … it is only now that the Treasurer has taken further steps for reform …
WAS Australia forsaken by the property sector? When not content with building for the Nation it was granted a ruling to sell 100% of ‘new homes’ overseas particularly in China … it did not stop there … because through buying our real estate these foreign buyers could also gain permanent residency!
It would seem together with the international student market a cabal was formed which has enabled the stealth attack on Australia’s intellectual property … it’s been like a walk in the park …
IT is alleged that Scomo when Treasurer in 2016 closed the loophole for the NT government to lease the Port of Darwin to Chinese-owned Landbridge in 2015 …
Yet despite the federal government having responsibility for national security the lease was issued!
CHINA does not allow foreign investment in its strategic assets …
Obviously with numerous reports on China’s espionage … and NOW Xi Jinping has confirmed the CCP’s control over all businesses including ‘private’ businesses …
-all companies and individuals have to co-operate with China’s intelligence establishment
Based on Australia’s experiences so far with China’s cyber and individual spying on our Parliament, political parties, government departments, universities and businesses … why engage further?
AS they acquire our Property (residential, agricultural and commercial) and the Silent Invasion of members of the CCP proceeds …
How can we be sure of preventing such espionage?
WHY go there? The World is a big place …
OBVIOUSLY with no protection for Australia’s National Estate … our Title Deeds perhaps our Biggest Export … is it any wonder that Beijing displays such contempt?
Chinese investment into our universities and research institutions has been large …
WHY was Australia slow to grasp that with Chinese ‘co-operation’ in our research that our intellectual property would benefit the PLA?
HOW will compliance requirements and penalties possibly be sufficient?
NOT much in this for Australia because there is no retrospectivity with the laws once passed! Australia has to live with the repercussions of the loss of a large share of the electricity grid, gas pipelines, and ports now owned by the Chinese!
Peter Jennings has come up with a solution that the government use its constitutional powers on national security grounds to take back control of the Darwin Port; and remunerate Landbridge.
Why doesn’t the Federal Government take the Port back?
Further, that the US, the UK, Canada and other democracies are also big investors in Australia … with China eliminated that could well encourage more involvement from others! Not that we all agree with foreign acquisition …
HASN’T taking China’s money been at the price of Australia’s national security and values too high a price to pay? … And it seems to have been totally unnecessary!
READ MORE from Peter Jennings, ‘China will be surprised how long it took us to act on Foreign Investment Laws’
Chinese billionaire and former windsurfer Gordon Tang (left).
CROMWELL PROPERTY GROUP …
IT would appear this is a prime example of why the Treasurer was motivated in late march by fears of Chinese companies taking over Australian businesses and reduced the threshold to zero for all bids
-these emergency changes will expire on 1 January when the new permanent changes will apply
WHEN one reads the report by Sarah Danckert, ‘The Chinese property billionaire eyeing Cromwell, the owner of sensitive Canberra assets‘ it is difficult to fathom how it is that the Takeovers Panel considers there is ‘no smoking gun’ evidence … despite the long list of events listed below:
–a coup to unseat the chairman of Cromwell Property Group and supplant him with corporate raider Gary Weiss, a representative of Cromwell’s largest shareholder, ARA occurred in Autumn 2020
-everyone except Gordon Tang viewed the extraordinary general meeting; Tang has large holdings in China’s property companies, in Singapore and the United States
–his closest connections include members of the Bush political dynasty
-his property portfolio in Australia is now being probed
-the Tangs are seeking control of a $2.1B real estate trust
-* at risk a building in Canberra that houses the TGA, a 49% share in a building where the Dept of Defence is housed; and Qantas’ global headquarters near Sydney airport
-the move appears to be ARA together with Tang to make a takeover offer without a full offer; pay other shareholders a premium; described as a ‘takeover by stealth’
-the Tangs have a $825M interest in Singapore listed Suntec REIT managed by ARA; SingHaiyi invests in ARA fund III and an ARA trust
-the Tangs gained an 8.8% interest in Cromwell in December 2017; now more than 13%
-mid 2019 Cromwell excluded ARA with a $375M institutional placement which led to David Blight, the MD of ARA to leave the Cromwell board
-* ARA again pushed for shareholders to vote against a resolution to approve the placement; and to vote corporate raider Gary Weiss onto the board at Cromwell’s annual meeting in November
-although the Tangs grip was growing ARA did not succeed in its bid to have shareholders veto the placement, and have Weiss on the board
-December 2019 Cromwell sought the Takeovers Panel declare ARA and the Tangs were acting together; controlling 37.4% combined stake yet not disclosing a takeover offer as required under Australian laws
-the panel threw the case out based on a lack of evidence
-March 2020 ARA attempted to install Weiss on the board; reinforcing Cromwell’s concerns about the Tangs and ARA
–ARA again lost when Tang family holdings custodians failed to vote all the family’s shares in favour of ARA’s resolution
–Weiss in response said that Cromwell continued to oppose his election to the board; why was Cromwell opposing appointment of its largest owner’s representative
-the Tangs reject claims they are working in concert with ARA
-Cromwell’s gearing remains at 40% within its stated 30 to 40% target range; that it was triaging risk across its European assets including in Poland; it has $670M in combined cash and undrawn facilities
-a company spokesman said the attacks on Cromwell were “particularly galling” given the relative performance of ARA’s own vehicles
-that ARA continues to agitate and attempt to destabilise even after Cromwell security holders have rejected their attempts to control Cromwell without paying a premium twice in the last six months
-Cromwell has offered to discuss a way forward; but these offers have not been accepted by ARA
-ARA has rejected further meetings with Cromwell until their nominee, Weiss is appointed to the board of Cromwell
READ MORE! ‘The Chinese Property Billionaire eyeing Cromwell the Owner of Sensitive Canberra Assets’
was the founder of the Melbourne-based Australia-China Belt and Road Initiative company was awarded two taxpayer-funded contracts in 2017-18 and 2019-20 totalling $36,850 to advise on China’s global commercial play.
Ms Dong was present at the signing of the Australia-China free-trade agreement in 2015 and recruited former federal Liberal trade minister Andrew Robb and former Labor finance minister Lindsay Tanner to the company’s advisory board.
NOW where should the torch light be shone?
IT would appear that DFAT was sending mixed messages when also to the contrary it raised concerns about China’s influencein the Pacific since 2017.
YET the Australian Government has allowed the Foreign Investment Review Board (FIRB) to operate and allow all but five ‘foreign acquisition’ applications …
Including ‘John Holland’ … ffs …
AND Australia’s residential property sector is awash with ‘black money’ …. As CCP operatives buy up our real estate … including the City of Chatswood … and this is being repeated along the rail lines and highways out to Epping … Ryde … Carlingford … up the line to Roseville, Lindfield and Killara, the Northern Beaches Peninsula … and the Wollondilly …
IN response to the Pandemic Lockdown the leading Australian (PCA) and NSW (UT) developer lobby organisations push for ‘more’ high immigration (and visa manipulation) to ensure their profit margins with the FIRB ruling allowing this sector to sell 100% of new homes to foreign buyers!
DESPITE this and more … Mr Dutton said:
“We have got to ask why this is happening and why is this influence taking place in our country and elsewhere,”
PRIOR to the Pandemic CCP members were flying into Australia numbering 50,000 a week!
-Numerous residential apartment towers are built by Chinese developers
-Chinese state-owned companies now own much of Australia’s power, mines, transport, dairy, beef cattle stations, vineyards, large agricultural properties, commercial property, Health care, Ports including Darwin
Chatswood is being built by CCP money …
DOES it seem that China is all too omnipresent?
Read more: ‘Belt and Road Advisory Board was stacked with People linked to CCP’