4CA - Queensland's Home for Fake News

4CA - Queensland's Home for Fake News
4CA - Queensland's Home for Fake News Led by John "Cueball" Mackenzie

29 September 2014


Thursday morning, a couple dozen 4CA Cairns hillbilly listeners found their leader, Cueball MacKenzie, away from his post with no public notice.  MacKenzie is heard to be on "special assignment" - a Tony Fung all-expenses-paid junket to Macau.  This "Selling of Aquis" to MacKenzie was unnecessary - 4CA has been a willing and reliable promoter of Aquis from the very beginning.  Has 4CA been paid to act as Aquis spruiker?  They have said no.  But have MacKenzie and Michael J. Bailey been slipped some cash "off the books"?  Good question.

Why are the Fungs working the press now?  

It would seem the Aquis project is now on the ropes.  Fung has flown in the Chinese "financial whales" on his private jet, but these men (including Poly Group president Zhang Zhengao) are reported to have rejected equity finance of the Aquis project.  With Poly Group shares down some 25% in Hong Kong, Zhang cannot afford any more dud development projects.  

So now the Fungs, seeing that the easy finance options are closed off to them, have cranked up the bullshit, to an increasingly skeptical public.

In the takeover documents for the Reef Casino Trust (RCT), Fung boasts that he's planning to quadruple the profit at the Reef Casino in 2-3 years.  How do Tony and Justin Fung plan to do this?  They don't say.  As many in Cairns would know, the Reef Casino has been run by Chinese management for a number of years.  Allan Tan has done a terrific job at growing the Reef Casino business.  It is absurd to think the Fung family, with zero casino experience, are capable of even matching the current performance of the RCT.  

In an interview conducted by the Australian Financial Review, Fung then announced that he now plans to finance Aquis with 'an equity market float in 2016' - claiming that "he expects strong support from investors if he could prove himself as a successful operator of a casino".  

So *IF* he can do this, a 2016 float means really that the project will not get underway until 2017!

And of course the reverse is also true - if he doesn't QUADRUPLE the Reef Casino earnings, Aquis is dead.  

And the chances of quadrupling the earnings at the Reef Casino?  Slim and none.

The fact is that there are NO casino company shares that
have been used to finance ONE single massive casino project.  Casino companies, like all successful companies, are diversified.  A share market float for Aquis is deemed "fantasy" by most bankers asked.

While the Cairns Post continues to refer to Tony Fung as a
"billionaire", there has never been evidence of this being true.  And while Aquis has racked up millions in costs for the project, it's obvious that they never had the financial wherewithal to build the proposed project.  And despite repeated requests, the Fungs continue to refuse to disclose what passports they carry.   

In an interview conducted by Cairns Post reporter Nick Dalton during the Aquis-paid media junket to Macau, one of the Fungs (with the story unclear as to who said it) also dropped what we regard as the biggest bombshell so far.  "Aquis would be financed using a combination of private equity, PUBLIC EQUITY, and debt".  Prior to the the Fungs have previously insisted that the project would be financed privately.  

So who with (obviously) the Queensland Government has committed PUBLIC MONEY to the Aquis project?  Or the even more ominous option - Mainland Chinese government money!  

Member for MacKenzie Gavin "Don't Rape Me" King has posted the clipping from the AFR on his Facebook page in some kind of fairyland haze.  Gavin King is an idiot.  We've been unable to determine if any of our local pollies have gone on this Macau junket.  If any have, they obviously will need to recuse themselves from any future voting on the project.

We don't understand the purpose of flying people from Cairns to Macau, anyway.  The Fungs own nothing in Macau, run nothing in Macau.  With gambling and prostitution the two primary industries in Macau, we'll need to know from all the reporters how much they were "spotted" in free chips, and how many teeny girls (and boys) they were provided while there

A new website has popped up, "AquisRealEstate.com".  This free promo (and copyright violation) was set up by Blake Dutton at Value Homes.  The vultures have arrived - apparently replacing the flying foxes. 



Johnno said...

My main concern is who pays for all the infrastructure. Cairns is on 24/7 water restrictions for starters. The northern beaches roads are clogged. The schools are full. And the the HOSPITAL is understaffed and full also. Fung, King, Mackenzie,Manning,Qld Gov, say buggar all. So what about putting up you dipsticks.

Anonymous said...

First you criticize cairns pollies for not going there and then for maybe going there. Get a life you twit.

CBD Warrior said...

Hey Anon,
You obviously can't understand the difference between our representatives taking an investigative trip they manage and control, and one where the media and local business "leader" get hand jobs from the promoters.

Anonymous said...

Who cares.I will never visit the eyesore or give my money to Chinese investors and as long as it stays in the flood plains of Yorkies I won't have to see it.

Anonymous said...

My repost from a few days back...

There will never be an Aquis (thank God). Coz he has now got his Casino license. That was his objective. The Aquis fantasy ends now !

Why spend vast amounts of money on a bogus 'pie-in-the-sky' multi-billion dollar development, if you don't need to? He has played the politicians of Cairns and Queensland as the exact fools they are.

Well done Mr Fung. This is why, we peasants in Cairns will never benefit from all of this. In fact we will probably subsidise it!

Our politicians and their half-wit advisors will have bat-shit all over their faces if this scenario becomes reality.

Yep, I am on the 'get out of Cairns' bandwagon soon. This place has gone too far 'dumb-ass' developer-stupid, for my liking.

Anonymous said...

Same as when Skyrail was first proposed.

All the anti Chapman loonies mouthed off about the destruction of the rain forest and all the Japanese that would take over. They even chained themselves to the trees.

We shoulda left them there.

Yawn !!!

Anonymous said...

I rate the skyrail comparison the singular most stupid comparison of all time. Only a truly stupid person would even think of such a nonsensical comparison. It beggars belief where stupid people park their brains at times.

QLD government have put AQUIS on notice. "Oh dear" the stupids say in reply, I bet LNP would have opposed the skyrail!. The numbers afterall are the same. Skrail cost 15bn in fact and took 400 years in talks to get finance. The demographic is the same, tourists lol, sky rail got high railers and AQUIS want high rollers. No difference. lol

So skyrail hater Jeff Seeney has spoken -

"THE Queensland government has put on notice the two Chinese-backed companies vying to build multi-million-dollar regional casino developments, warning that it could issue a fresh round of gaming licence tenders if proposals do not meet its requirements."


Anonymous said...

Nothing new but at least more outsiders are saying what they have been thinking all along. There should be an inquiry into how these big projects are handled. Really.

from the ABC.
A financial analyst says the $8 billion Aquis resort proposed for Cairns would need to generate a vast amount of money to be viable.

Gaming industry expert Brian Han, from investment management firm Morningstar, says Aquis would need to earn about $800 million a year before tax.

He says it is ambitious, given other casino developments in Australia and overseas are also chasing the emerging Asian high-roller market.

"We have two casinos in two of the most populous areas in the whole state of Queensland generating only about $140 million in earnings," he said.

"So for this project to generate $800 million in earnings, they need to have a casino earning stream that is much bigger but they also need to generate quite a vast sum of earnings from its resorts business."

Mr Han says more casinos targeting high-rollers are also opening up in Asia.

"We're not only talking about Crown Casino or Echo Entertainment in Australia, you have to understand that those two companies are upgrading their facilities to entice those high-rollers but also on top of that they have to compete with all the proliferating Asian casinos as well, so it's no easy task," he said.


Anonymous said...

lol only one LNP stooge is making a cent of this, the 'social guy' or whatever he calls himself. his gravy train will come to an end soon when aquis is cancelled

Anonymous said...

Never going to happen. If it does, it'll be like the Monorail episode of the Simpsons!

Anonymous said...

Curious about the Aquis Facebook page where they are obviously trying to drum up support. The page now has over 44.000+ likes and yet when you look at the stats, it tells you that 18-24 year olds from PNG are the most engaged users of the page? Why are they targeting PNG? It's not like they will be customers. Are they trying to make it look like they have a lot of support? https://www.facebook.com/AquisCasino/likes