LARGEST EVER CHINESE DEVELOPMENT
Proposal for 3,500 apartments
By Red Dwyer
AUSTRALIA YMCI, backed by Chinese sovereign wealth fund China Investment Corporation has bought an industrial property near Sydney Olympic Park for more than $660 million from the Goodman Group.
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NEW WEBSITE TARGETS CHEATERS
Super sleuth Mario is on the case
THINK your partner is cheating? Call in super sleuth Mario Bekes who is well qualified to ease suspicious minds.
LEGAL ACTION AGAINST ALLIANCE
PENRITH Council has launched legal proceedings against the Penrith Business Alliance (PBA) in a bid to determine where public money went.
In June 2015, after an independent review of a Deed of Agreement with the PBA, Council resolved that public funding for the Alliance would cease.
Penrith Mayor Karen McKeown said since then, Council had made numerous unsuccessful requests to the PBA for reconciliation of the funding allocated to the Alliance for the 2014-2015 financial year.
“This is public money. We have an obligation to our community to find out whether this money was used appropriately for economic development activities,” Cr McKeown said.
“A Limited organisation is also required to lodge audited financial statements with ASIC which hasn’t happened, so there needs to be accountability,” Cr McKeown said.
The PBA, which was set up by Council, started operating in 2009 as a Company Limited by Guarantee and provided annual updates to Council about its activities and future program.
Council conducted a review of its economic development functions after a five-year period.
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CONCERN OVER NEW MINISTRY
Small business dumped in reshuffle
THE Council of Small Business of Australia (COSBOA) has questioned why the Small Business portfolio has been downgraded from Cabinet in the Turnbull Government’s new Ministry.
SBS SEEKS DOCUMENTRY PARTICIPANTS
SBS is looking for highly successful business men and women to take part in a documentary series. Details will be revealed but you must have a sense of adventure and like a challenge. Filming is in Melbourne during September 2016. For more information, contact Lesley on 0448 322 884 or email anewtvshow@gmail.com
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BOULEVARD DEVELOPMENT LAUNCHED
AUX group moves on Australian market
THE AUX Group has launched The Boulevard development at an exclusive event at the Fiddler.
EXECUTIVE APPOINTMENTS AT IDRAFT
FOUNDER and Director of the Idraft Group (IDRAFT), Frank Cozzupoli, has announced a number of new appointments to the company’s executive leadership team.
