Tag Archives: Shanghai Pengxin

Pengxin International executive Terry Lee has confirmed the company will seek an extension to its funding lines for the Lochinver farm acquisition. The funding lines were due to expire today. But late yesterday the company had still not received any feedback from the Overseas Investment Office since Pengxin’s application went to Cabinet Ministers Paula Bennett and Louise Upston just before …

The former Crafar family farms controversially bought by China’s Shanghai Pengxin last year reported an operating loss in their first year of new ownership due to the widespread drought last summer. Pengxin New Zealand Farm Management reported an operating loss of $1 million in the year ended June 30 on revenue of $10.5 million, according to its first annual report …

The Supreme Court has rejected a bid by two North Island iwis to overturn Shanghai Pengxin’s successful bid for the Crafar farms. The court’s decision to reject the iwi’s appeal against the recent Court of Appeal’s judgment upholding Shanghai Pengxin as having the requisite business acumen and experience to run the dairy farm business is good news for all other …

At Wednesday’s China Business Summit in Auckland, the sale of the Crafar Farms was a hot topic among speakers and attendees. David Mahon, managing director of Mahon Investments and a keynote speaker, spoke of the importance of Chinese investment and the reception the Crafar Farms issue received in China. The full article is available from the NZ Herald here.

Fran O'Sullivan sits down with Shanghai Pengxin Chief Executive, Jian Lei as he speaks about the ongoing Crafar Farms saga as well as his company's future investment plans in New Zealand. More to come

The Court of Appeal emphatically threw out the Sir Michael Fay-led challenge to Shanghai Pengxin's bid for the 16 Crafar farms and with it, hopefully, one of the most xenophobically charged episodes of commercial behaviour in New Zealand.