Section 12(a) Overseas Investment Act 2005
|Decision date||3 September 2012|
An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1,330.9890 hectares of land at 3803 Waihopai Valley Road, Marlborough.
Tiong Thai King, Malaysia (70.0%)
Tiong Family, Malaysia (15.0%)
Tiong Hiew King, Malaysia (10.0%)
Tiong Ik King, Malaysia (5.0%)
Christopher Joseph Lovell and Caroline Susan Lovell
New Zealand (100%)
The land is being acquired for conversion to forestry.
The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:
Overseas Investment Act 2005
-17(2)(a)(i) – Creation of jobs
-17(2)(a)(iii) – Increased export receipts
-17(2)(a)(v) – Additional investment for development purposes
-17(2)(a)(vi) – Increased processing of primary products
-17(2)(b) – Indigenous Vegetation/Fauna
-17(2)(e) – Walking access
Overseas Investment Regulations 2005
-28(e) – Previous investments
PO Box 63
Download a printable version of this summary (pdf 28KB).