Milk New Zealand Investment Ltd, a company based in the British Virgin Islands (BVI 1714180) and directed by Shanghai resident billionaire Zhaobai Jiang, until recently owned all the shares in the NZ registered company Milk New Zealand Holding Ltd (company no. 3883536). According to the New Zealand Companies Office website, as of 5 September 2014 all the shares are now directly owned by a Hong Kong registered company “An Yuan Dairy Ltd” which is recorded as having its registered office at:
This share transaction was first recorded on the NZ Companies Office website on 15 September 2014 by “authorised presenter” Mr Terry Lee of Auckland.
The Society (SPCS) has determined from the Hong Kong Register of companies that An Yuan Dairy Ltd is Hong Kong company number 2116560, and was incorporated on 7th July 2014 by Shanghai Pengxin Group Co. Ltd. An Yuan Dairy is not the same legal entity as Milk New Zealand Holding Ltd (Hong Kong) [“Milk NZ”], company number 1498348, which is also owned by Shanghai Pengxin Group Co. Ltd. It is the latter company’s NZ-registered subsidiary, Pure 100 Farm Limited, which the New Zealand Overseas Investment Office has recorded as currently seeking to purchase the Lochinver Station
See: http://www.linz.govt.nz/about-linz/news-publications-and-consultations/news-and-notices/shanghai-pengxin-lochinver-station
The total number of shares held by Milk New Zealand Investment Ltd (BVI 1714180) dropped on 5 September from 167,911,162 to 86,075,387 in the transaction, a recorded decrease of 81,835,775 shares. This occurred when Milk New Zealand Holding Ltd (NZ 3883536), the subsidiary, purchased 81,835,775 shares from its parent company Milk New Zealand Investment Ltd (BVI) and subsequently the registered capital value of the parent company dropped to $86,075,387. An Yuan Dairy Ltd (HK) then purchased all 86,075,387 shares from Milk New Zealand Investment Ltd (BVI), thereby purchasing Milk New Zealand Holding Ltd (NZ) for $86,075,387.
[Milk New Zealand Investment (BVI) remains wholly owned by Milk New Zealand Holding Ltd (Hong Kong) [“Milk NZ”]), which in turn is wholly owned by Shanghai Pengxin Group Co. Limited]
We pointed out in an earlier post that Hunan Dakang Pasture Farming Co Ltd (Hong Kong) was seeking to raise capital to purchase Milk New Zealand Holding Ltd (Hong Kong) based on its media announcement in June 2014. Shanghai Pengxin Group Co. Ltd, directed by Zhaobai Jiang, has the majority holding (55%) in Da Kang.
A recent report by SinoCast LLC dated 17/09/14 indicates that Da Kang clearly intends to purchase An Yuan Dairy Ltd (HK company 211650), the new owner of Milk New Zealand Holding Ltd (3883536). Such a purchase would need to be approved by the NZ Overseas Investment Office.
References
www.companies.govt.nz
http://www.linz.govt.nz/about-linz/news-publications-and-consultations/news-and-notices/shanghai-pengxin-lochinver-station
Audit Report prepared for Anyuan Dairy Company Ltd dated September 12, 2014 by Chinese Certified Public Accountant Liu Leah
http://www.linz.govt.nz/sites/default/files/docs/overseas-investment/decisions/oio-recommendation.pdf (see final page for company ‘wiring diagram’).
See: Earlier SPCS blog postings on the subject of Lochinver
https://www.spcs.org.nz/money-laundering-conviction-for-natural-dairy-duo-involving-hk230m/
https://www.spcs.org.nz/milk-new-zealand-investment-ltd-british-virgin-islandschina-link-confirmed/
https://www.spcs.org.nz/why-do-so-many-chinese-companies-use-the-british-virgin-islands-bvi/
https://www.spcs.org.nz/lochinver-and-crafar-farms-buyer-milk-nz-hong-kong-to-be-sold-off/
https://www.spcs.org.nz/lochinver-station-is-foreign-buy-up-of-nz-farms-milking-nz-dry/
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