Thursday , December 20 2018
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Tag Archives: China

Bright Food provides Silver Fern with letter of comfort

 China’s state-owned Bright Food Group has provided a letter of comfort to Silver Fern Farms that it will vote its 38 percent stake in Shanghai Maling Aquarius in favour of acquiring 50 percent of New Zealand’s biggest meat company. Some 82.2 percent of votes were cast in favour of the transaction at a SFF shareholder meeting in Dunedin today, comfortably exceeding the 50 percent …

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Silver Fern Farms shareholders approve deal to sell 50% stake to Shanghai Maling

Shareholders of Silver Fern Farms have voted in favour of a proposal to sell 50 percent of New Zealand’s biggest meat company to Shanghai Maling Aquarius after the unit of China’s state-owned Bright Food Group offered $261 million of cash, a special dividend and money to bankroll the cooperative for seven years. Some 82.2 percent of votes were cast in favour of the transaction, …

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Time To Casualise The Boss A Thought For Labour Weekend – Rob Campbell

It is common thought that the nature of work is changing, as technologies and social behaviour evolve. One aspect of this which has caused concern for some is that of casualisation. We see widespread commentary on the increasing proportion of lower paid jobs which are part time, casual, or even “zero hours” contracts. For those who are running businesses this …

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Silver Fern could stay NZ-owned for as little as $25k per farmer

Silver Fern Farms could be kept in cooperative ownership for as little as $25,000 per farmer and the meat company’s board would be irresponsible not to consider a “plan B” if it fails to garner support for its proposal to sell half the business to Shanghai Maling Aquarius, says an opponent of the deal. SFF shareholder John Cochrane this week circulated an …

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Q&A: Steven Joyce on Lochinver, Silver Fern Farms

The proposed sale of Lochinver Station near Taupo to a Chinese investor was part of a contentious debate over foreign investment at the last election a year ago today, and it’s taken until this week for the Government to make its final call on the deal. It’s been vetoed, the first big deal to be blocked since 2008. TVNZ’S Corin …

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The Nation: Steven Joyce on Govt’s block Lochinver station sale

The Nation edited transcript: Lisa Owen interviews Steven Joyce Lisa Owen: So while National’s well ahead in the polls, it’s not been a year without its challenges. National’s campaign chief and, of course, Economic Development Minister Steven Joyce joins me now. Good morning. Steven Joyce: Every year has its challenges, Lisa. All right. Well, briefly, to start off with, what do …

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Chinese firm may take 50% of Silver Fern Farms, increasing market dominance, shareholders say

Chinese interests may be close to acquiring 50 percent of Silver Fern Farms, in a deal that would increase the dominance of New Zealand’s biggest meat exporter and erode farmer control of the industry, say shareholders pushing for a merger with Alliance Group. Dunedin-based SFF has been seeking a $100 million capital injection to strengthen its balance sheet before banking facilities expire in October …

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Auckland Airport 'optimistic' on Chinese travel despite questions about economic growth

Auckland International Airport, the country”s biggest gateway, says it”s optimistic about demand from China, its fastest-growing source of passengers, even after weak manufacturing data sparked a global selloff in stocks and raised questions about growth in that economy. Passenger numbers from China soared 41 percent to 545,494 in the airport company”s latest year, while capacity on routes to China rose 38 …

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Coriolis: Foreign-owned firms still grabbing most end value from NZ dairy ingredients

Most of the end value of New Zealand’s dairy ingredients is being captured by foreign-owned firms beyond the border, a new report shows. The government-commissioned Coriolis research report on growing consumer demand for dairy products in Southeast Asia is the latest in a series on New Zealand’s food and beverage industry aimed at achieving the government’s goal of doubling exports to 40 percent …

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NZ dollar drops vs. greenback, gains vs, yuan after Bank of China devalues currency

The New Zealand dollar fell after China devalued the yuan, stoking concern economic growth is weaker than expected in the nation’s biggest trading partner. The kiwi traded at 65.52 US cents as at 5pm in Wellington, down from 66.10 cents late yesterday. The currency rose to 4.1396 yuan from 4.1033 yuan. China is the biggest two-way trading partner with New Zealand and the second-largest export market …

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