DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date3 September 2012
InvestmentAn 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.
ApplicantTimbergrow Limited
Tiong Thai King, Malaysia (70.0%)
Tiong Family, Malaysia (15.0%)
Tiong Hiew King, Malaysia (10.0%)
Tiong Ik King, Malaysia (5.0%)
VendorChristopher 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

More informationDeirdre Norris
Glaister Ennor
PO Box 63