| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 14 April 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 14.0413 hectares of land at Lund Road, Katikati. |
| Consideration | $2,154,375 |
| Applicant | Kaimai Resources Limited Julian Roe, United Kingdom (except Isle of Man and the Channel Islands) (100.0%) |
| Vendor | Philip Enterprises Limited and Lund Road Property Limited Philip Colin Chisnall, New Zealand (50.0%) Harold Edwin Griffin, New Zealand (50.0%) |
| Background | The sole shareholder of the Applicant is a director and 50% shareholder of Monoluxury Sdn Bhd which is a market leader in Malaysia and Singapore in the production and sale of salad vegetables and herbs under the Genting Garden and Village Garden brands. The Applicant is undertaking the investment to develop a sustainable agricultural property producing salad vegetables and herbs for the export and the New Zealand markets. 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 |
| More information | Alastair Gatt Cooney Lees Morgan PO Box 143 TAURANGA |