Chinese-based interests hold the vast majority of shares in the parent company behind a consortium in exclusive government negotiations to build a $3 billion casino, apartment and hotel mega-project on the Gold Coast.
Shareholder records for the Sydney-based, ASX-listed, ASF Group show of all companies listed among its top 20 shareholders none are Australian, and every group whose identity can be determined is Chinese.
The Australian yesterday revealed ASF Group — which wholly owns ASF Consortium, which is seeking to develop the resort on Southport Spit — has lost $92 million of the $102m it has raised from investors, and its auditor warned of “material uncertainty” about its ability to stay afloat. Its shares closed up 1c at 20c yesterday.
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