crustyngrizzly 1,700 Report post Posted January 30, 2020 Headline in NBR behind paywall. Contriversial Chineses Billionaire given OIO approval to purchase Hamilton Stud Farm. Not sure which stud it is but High View had been on the market previously and already had Hong Kong citizens in ownership. Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,700 Report post Posted January 30, 2020 Could have been Dormello,it also had been on the market previously, Quote Share this post Link to post Share on other sites More sharing options...
fitzy 143 Report post Posted January 31, 2020 Chinese billionaire gets OIO approval to buy stake in Hamilton stud farm His company was earlier involved in National Party donations scandal. By Andrew Bevin Thu, 30 Jan 2020 Add to Saved Content Lang Lin, chief executive of Inner Mongolia Rider Horse Group Inner Mongolia Rider Horse Industry has received OIO approval to purchase 35% of Highview Stud/ Bauhinia Farm, which owns 119 hectares of farmland in Hamilton, for $5.4 million. Inner Mongolia Rider Horse Industry hit in the headlines back in 2017 after its owner, Chinese billionaire Lang Lin, used the company to give a controversial $150,000 donation to the National Party. Highview Stud, which trains and breeds racing horses, has a leasehold interest over the land for up to 12 years. The OIO approved the investment on the grounds it was expected to create full-time jobs, exports, increase the efficiency and productivity of Highview Stud and bring additional investment into New Zealand. The regulator also expected the investment to advance government policy regarding the sale of thoroughbred horses in New Zealand. Lin made his fortune in fast food and has worked to create a racing industry in China, where it remains illegal outside of Hong Kong and Macau. He chose New Zealand for his breeding operations because of the quality genetics, affordability and quarantine standards and his company has been eyeing up and breeding horses here since 2012. Top stallion Mongolian Khan, 50% owned by Lang Lin's company and Windsor Park Stud has stood at stud in New Zealand The furore The company’s $150,000 donation to the National Party was widely criticised as going against the spirit of the law, which bans foreign donations of more than $1500. Lang Lin and the National Party got around foreign donation law because the donation was funnelled through Inner Mongolia Rider Horse Industry NZ, which is registered in New Zealand, despite having 100% Chinese ownership. Last year, Green Party Electoral spokesperson Golriz Ghahraman called the donation “an example of powerfully vested interests tipping big money into the coffers of the National Party.” Yesterday the Serious Fraud Office said it had filed criminal charges against four people related to the latest, unconnected National Party donations scandal. The defendants, who have not been named, would appear in the Auckland District Court on February 25. Neither the charges or the defendants’ identities are known at this stage and the charges laid have not been revealed. National Party leader Simon Bridges said in a statement neither he nor the party had been charged. Quote Share this post Link to post Share on other sites More sharing options...
Breeder 608 Report post Posted January 31, 2020 I am no expert on these sort of deals but $5.4 mill for 35% of the stud which operates on leasehold land seems a fairly high price. Dopey 1 Quote Share this post Link to post Share on other sites More sharing options...
crustyngrizzly 1,700 Report post Posted January 31, 2020 1 hour ago, Breeder said: I am no expert on these sort of deals but $5.4 mill for 35% of the stud which operates on leasehold land seems a fairly high price. Pretty sure that in 2005 a Hong Kong citizen paid 1.6 million for 50%. Breeder 1 Quote Share this post Link to post Share on other sites More sharing options...
ivanthegreat 1,123 Report post Posted January 31, 2020 They used to fell giant Kauri's with wedges. hedley 1 Quote Share this post Link to post Share on other sites More sharing options...
