Applicant
Ernslaw One Limited
Case number(s)
201410019
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date4 April 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 513.8880 hectares of land at Waihopai Valley Road, Waihopai, Marlborough.
Consideration$780,000
ApplicantErnslaw One Limited
Tiong Family, Malaysia (100.0%)
VendorPeter Thomas Smith
New Zealand (100%)
Background

The land is being acquired for conversion into forestry. The applicant intends to establish a pine forest on the land.

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) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater productivity
17(2)(a)(v) – Additional investment for development purposes
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
AUCKLAND