Mystery buyer for Matauri Bay, Medicom plays down ad scandal, new investment licensing regime

In NBR Print today: At long last, a buyer for debt-ridden land owned by Matauri X has come to the table but secrecy surrounding the deal is sparking rumours of a foreign buyer.

Former Matauri X administrator Kevin Gillespie says he has lined up a buyer for the Maori corporation’s land owned through Matauri Bay Properties, which owes about $26 million to Strategic Nominees. Victoria Young reports.

The New Zealand counterparts of the client and agency involved in a fraudulent campaign reporting case in Australia say it was an isolated incident and nothing has changed on this side of the Ditch. But as an ad expert tells Campbell Gibson, it would be naïve to think New Zealand is immune.

Despite indignant protests to the contrary, Finance Minister Bill English opined at a recent seminar that the “aging population doesn’t matter.” The statement was part of what he calls “doing stupid stuff,” which the current government wants to stop doing. Nathan Smith reports.

Two financial services firms have been licensed to make buy-sell decisions for clients’ portfolios without having to get their permission. Although seemingly risky, the firms say this will instead increase controls and hope the new regime will reduce future financial scandals, writes Calida Smylie.

Business owners are watching the proposed Health and Safety Reform Bill closely. But changes to legislation could also stimulate growth for companies in the fleet management sector. NBR’s special feature takes the pulse of the industry.

The first time Barnaby Swire came to New Zealand was on a ship in 1981 as a young man straight out of Eton College. This week he was back as the chairman of John Swire & Sons, the privately owned parent company behind a diversified conglomerate which has been prominent in shipping, trade and related businesses in East Asia for nearly 200 years. He tells Duncan Bridgeman what the company is doing in New Zealand.

TVNZ and MediaWorks’ refusal to address the complaints of local producers canvassed by NBR last week has attracted the attention of broadcasting funding agency NZ On Air. Nick Grant reports.

The Unlisted share trading platform will seek growth to 40 issuers if its application to be exempt from new regulations is successful. But if regulators fail to subscribe to the offer, the platform run by Armillary Private Capital will separate into private markets, although manager David Wallace says this is “not as elegant a solution.” Hamish McNicol reports.

Two weeks ago at a New Zealand Trade & Enterprise showcase near Palmerston North, nine early stage agribusinesses sought to tap up to $5 million from over 140 qualified investors to help accelerate their companies’ international growth. Jamie Ball profiles three considered “world-firsts”.

With the NZX also at recent highs and tipped as too rich for value propositions, many New Zealand investors will be wondering whether there are bargains to be had on the ASX, writes Nevil Gibson in Margin Call.

Disgruntled insurance claimants can turn to a new business offering a no-win, no-fee service to take on their cases. Much like litigation funders, former financial adviser Nigel Kelly’s Insurance Advocates takes a 20% fee on any benefit gained in cases that are settled. Sally Lindsay reports.

All this and more in today’s National Business Review. Out now.