News

Senator Joyce slams Cubbie Station deal

SHADY DEAL: Senator Barnaby Joyce says there is something "peculiar" about the Cubbie Station sale and that Australians want to know the full story.
SHADY DEAL: Senator Barnaby Joyce says there is something "peculiar" about the Cubbie Station sale and that Australians want to know the full story. Lyndon Keane

THE revelation that an Australian bid for Cubbie Station was unable to access financial records proves some offers were not taken seriously by administrators, according to Nationals Senator Barnaby Joyce.

The outspoken senator's comments followed the extraordinary admission that the Foreign Investment Review Board was aware that a bidder "couldn't access the books" during due diligence.

"It proves definitively that there were other bids and they weren't properly scoped," Senator Joyce said on Friday.

"There's something more to the story...they get angry when you ask."

In a heated Senate estimates hearing last week, FIRB official Samantha Reinhardt admitted Treasury was aware of the issues experienced by the Australian bidders.

"We were aware of a bidder who said they weren't able to access the books...we were reassured that there wasn't someone, a viable Australian bidder, that was being blocked from pursuing their bid," she said.

A source close to the Dirranbandi enterprise said they believed the revelation proved a sale to a Chinese-based entity - like Shandong RuYi, which is set to own 80 percent of Cubbie Station - was always the goal.

"The Australian bidders couldn't even get a look at the books; the administrator and banks weren't interested," they said.

"As far as I'm concerned, Cubbie (Station) was always going to be sold to the Chinese."

When asked by the Balonne Beacon whether he believed Cubbie Station represented "a 93,000-hectare gift" to foster relations with China, Senator Joyce would not be drawn into speculation.

"They're your words, not mine," he said.

Despite the sale agreement, strong public opposition continues and Senator Joyce likened the lack of transparency from the Federal Government and the administrator to a game of ducks and drakes.

"It's peculiar, shady," Senator Joyce said.

"There's been almost a clandestine approach (to the sale)."

A spokesman for administrators McGrathNicol again refused to shed any light on the sale that has divided a nation.

Topics:  barnaby joyce cubbie station dirranbandi foreign investment review board politics



Fire crews called to John Dee

The alarm was triggered shortly before 3.30pm

The firefighters were called to the abattoir at 3.30pm.

Termites devastate Southern Downs park shelters

Shelters made unsafe by termite damage dismantled

7 epic Airbnb getaways on the Southern Downs

Wouldn't you like to stay here for a night or two?

Hey, don't you deserve a getaway?

Local Partners

Clifton in election carve up

Clifton could become part of a new seat by the next Queensland election in a shake-up of political boundaries.


Cricket and drag racing in the news on Southern Downs

Drag organiser Matthew Loy.

Weekend action will include cricket and drag racing

4 things you can't miss this week

Winners Stunned Mullets and runners-up Marbuck's XI after the final of the Condamine Sports Club Australia Day Cricket Carnival. Photo Gerard Walsh / Warwick Daily News

Here are 4 things you can't miss this week

Events you need to be at this week...

Andrew Lange races at Warwick Dragway.

No Prep Kaos drag racing open to all

Why Emma Watson turned down Cinderella

Emma Watson in a scene from the movie Beauty and the Beast.

HARRY Potter star has standards when it comes to Disney princesses.

Wonder Woman a ‘disjointed disaster’, says DC insider

Gal Gadot in a scene from the movie Wonder Woman.

INSIDER says the much-hyped blockbuster will disappoint.

Kid nails Swift impersonation

Seven-year-old Xia Vigor nails Taylor Swift impersonation on the Philippine talent show Your Face Sounds Familiar Kids.

TAYLOR Swift has a seven-year-old doppelganger.

Ariana Grande 'hardest working 23-year-old on Earth'?

Ariana Grande

Not everyone was impressed with Grande’s self-proclaimed work ethic

Why The Walking Dead cast are paid a pittance

Despite massive ratings the cast haven't been shown the money

50 Shades Dornan on why he hates the film

Dornan and Johnson’s frequent sex scenes were ‘awkward’ to film. Picture: SuppliedSource:Supplied

Jamie Dornan doesn’t blame you for hating 50 Shades

Sunday auction for historical home

Former Catholic school sure to attract spirited bidding

Looking back, looking ahead in Noosa

NEVER-ENDING GLORY: Looking towards Laguna Bay and Hastings St from Noosa National Park.

Natural appeal of Noosa continues to attract buyers

Thousands of jobs part of $1b retirement village project

THIS YEAR: An artist impression of the new Aveo retirement village in Springfield.

Aveo Springfield unveiled this month, homes ready by July

KNIFE-EDGE: The housing tightrope we now face

Even the smallest interest rate rise will be hard for some to handle.

One if five home owners at risk, according to new analysis

'Difficult times': Rental prices tipped to increase in 2017

GREAT BUYS: There are some great rentals and houses to buy in South Gladstone. Head to gladstoneobserver.com.au for the top 10 homes under $100 to rent right now in the Gladstone region.

Investors may soon see a "profitable return” on properties.

Ready to SELL your property?

Post Your Ad Here!