DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date14 March 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 910.3579 hectares of land at 3093 Waihopai Valley Road, Waihopai Valley, Marlborough.
Consideration$2,300,000
ApplicantErnslaw One Limited
Tiong Hiew King, Malaysia (25.9981%)
Tiong Ik King, Malaysia (13.55%)
Estate Tiong Yung King, Malaysia (12.2996%)
Thai King Tiong, Malaysia (12.2996%)
Tiong Kiong King, Malaysia (12.2996%)
Estate Tiong Kiu King, Malaysia (10.8492%)
Chia Lai Mei, Singapore (9.523%)
Bring Rich Corporation Inc, Singapore (1.0003%)
Tiong Chiong Ong, Malaysia (0.7502%)
Tiong Chiong Hoo, Malaysia (0.7502%)
Tiong Family, Malaysia (0.48%)
Law Cheng King, Malaysia (0.2001%)
VendorNiven Holdings Limited
Stephanie Gaye Niven, New Zealand (50%)
Peter Campbell Niven, New Zealand (50%)
Background

The Applicant is a forestry and timber processing business operating in various locations throughout New Zealand.

The Applicant intends to convert the land from a sheep and beef farm with some plantation forestry established on it to entirely plantation forest. The Applicant intends to invest substantial additional capital for development to prepare and plant the Land in radiata pine forest and to obtain FSC certification for the Land, which will ensure it is managed in an environmentally sustainable manner.

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) – Jobs
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy

More informationDeirdre Norris
Glaister Ennor
PO Box 63
AUCKLAND