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

10 January 2017

AQUIS MAY BE DEAD BUT TONY FUNG'S INVESTMENTS IN CASINO PROJECTS ARE ALIVE AND WELL

LOOKS JUST LIKE THE FANCY AQUIS
PICTURES WE WERE GIVEN
Can we all agree - Aquis Cairns is DEAD?  Well, maybe everyone agrees except Bob "Sleepy" Manning.  Someone wake him up, would'ja?

But the intrigues around "Big Daddy Tony" Fung Wing-Cheung and his erstwhile son Justin Fung continue to spin in the wake of the Queensland Government approval of the Echo Casino project in the Brisbane CBD, and the previously discussed Baha-Mar project, sitting unfinished in the Bahamas since late 2014.

Chow Tai Fook Enterprises, and principal Cheng Yu Tung, is a Hong Kong-based conglomerate with a foothold in the jewelry business.  The jewelry business has been used as a "money laundering" scheme in Macau to allow mainland Chinese to circumvent gambling restrictions.  Chow Tai Fook is a major investor in Macau-based casino operator SJM Holdings.

Chow Tai Fook was the "money" behind the Star (formerly Echo) bid for the Queen's Wharf project,  along with Far East Consortium (Australia).  With the project licence issued by the Queensland government this past October, we're now reporting that the Fung's are "off-the-books" investors in Queens's Wharf.  

Insiders report that Tony Fung had no way to get a casino
BIG DADDY FUNG.  GOTTA PUT
MY MONEY SOMEWHERE, GODDAMMIT!
licence from the Queensland Government, although the areas of concern were not raised, ignored, or not reported to the regulators in the ACT.


Chow Tai Fook Enterprises first attempted to purchase a poorly performing project in Las Vegas, and reportedly was rejected for a casino licence there.  

They then began negotiations to takeover the stalled Baha-Mar project, on which we've previously reported.  This project, over 90% completed but bankrupt due to malfeasance by the Chinese-government-owned contractor, is now being finished by Chow Tai Fook.  While the Bahamanian authorities were appraised of the casino licence rejection of this company, the Bahamanian government could not let this project sit uncompleted - and they've turned a blind eye to the shortcomings.

As has the Queensland government.  We understand that while investigators were advised by the US government of the licence rejection in Nevada, the government conveniently responded that the "information collection phase was closed" and they would not consider the rejection in their evaluation.

You can't make this shit up.

Tony Fung's companies are said to have pledged cash for the Baha-Mar project as well.

Insiders around Cairns believe Fung never had any intention of building out Aquis - it was a muscle-flexing exercise with upper echelon mainland Chinese government officials.  Remember the Boeing 757 "corporate jet" that Fung bought? It was really only used for one group of flights - government officials from the mainland who ultimately nixed putting any money into the Fung project in Cairns.

And Brisbane-based investigators have also connected the various Hong Kong entities to a known Chinese gangster, Stanley Ho.  And the Labor Party.  Along with the Queensland LNP.  They're all happy to wallow in the mud.  

Meanwhile, Cairns revels in the announcement that one major bridge (out of three), will be upgraded.  Praise Jesus!  




6 comments:

Anonymous said...

Most people with half a brain knew AQUIS was pure fantasy, the numbers needed to make this mirage on the Barron river delta viable were impossible to attract to Cairns. The issue I have is the so called leaders of the region got taken for a ride when even the village idiot new it was BS. The airport needed to have 15 extra international flights every day in wide bodied aircraft to be viable, and they needed to be full.

Anonymous said...

Cairns airport also got taken for a ride by the Tony Dung/Aquis fantasy (no real surprise there). My 'man on the ground' at NQA told me Kevin Brown and his GM Property Development were looking at the option of building an extra small terminal just for the fly in fly out gamblers and Chinese business executives. They also considered building an extra road behind the northern end of the main runway parallel to the little Barron just for these special 'international guests' to use to give them quicker access to the northern roads so they could get to Aquis faster and start spending! Just another airport fantasy by the 'team' who brought us nothing. As if Cairns airport would spend a dime on anything. Perhaps they should stick to fixing the copious amounts of leaking aviation fuel under the International Tarmac and working out how to remediate all the PFOS contaminated land to the West near the general aviation precinct before planning projects that are just a pipe dream?

Hamish Krint said...

With Aquis dead in the water (no pun intended), at least our gambling bill of $10 million/month being ploughed into the pokies by the locals will not double. Now, what is the ALP government going to do about the pokies taking 50 & 100 $ notes, that Newman allowed. Going to reverse this? Or is there too much gambling tax going into the coffers to even consider it?????
Pity about the increased drain on social services by the poor, who can't even afford to even put $1 into the pokies in the first place, let alone every cent they have!

Anonymous said...

Better still cut the pokies back to $1.00 a spin

Anonymous said...

Our leaders need to drop the Acquis fantasy and now concentrate on international and Australian tourism, not gambling. Tourism including the reef, tablelands, Daintree and Kuranda have always been out lifeblood, like it or not. NOT gambling!
For example, new Cairns airport CEO Norris Sharter has finally seen the back of Princess Antonson and is going to bring in his own Commercial go-getter. Thank Christ! All Antonson could manage was copious trips abroad buying expensive labelled clothing and signing up one shitty LCC international carrier to fly here once per week for a few months per year. The obese Ward hasn't achieved much better. Norris Sharter still needs to broom all the legacy management incompetents who are still there I he really wants to change Cairns airports lack of ability and leadership. It will take time to wind back the pathetic structure that Kevin's Brown introduced, accepted, and presided over. A stain that will take some time to remove, if Norris Sharter is really up to the job. He needs to particularly overhaul the Commercial team which is bloated in comparison to other same size airports, bring in professionals not lazy bellowing bullshit artists, cull the deadwood, restructure the team and bring in new Commercial blood. No more failed has-beens.
A new management team at the airport combined with a more switched on TTNQ, less incompetent Council and a revitalised Advance Cairns could give us the shot in the arm that we need.....if only!

It will take time to sweep out Cairns airports crap, but a fresh approach with hard working new blood is desperately needed. The current structure of senior managers, Board, CFO and Kevin Brown's legacy is woeful to say the least. Weak weak weak. Not one solitary hat working strong personality among them. #cleanupcairnsairport

archie butterfly said...

Would it be trite and somewhat narcissistic of me to remind you that I told you first? And that the Hillbilly called me a loon? Or would I simply be telling the truth? Either way this is excellent research. Well done. Cheers, Archie Butterfly