'Mystery' company behind SPC jam sale not Australian-owned

The ABC has uncovered documents which reveal the majority shareholder in the recently sold SPC jam factory at Kyabram in northern Victoria is a Malaysian-based investor.SPC announced Kyabram Jam Company purchased its IXL jam factory

On Monday SPC announced the sale of its factory, which produces IXL jams and Taylors marinades, to a mystery business called Kyabram Jam Company.When announcing the sale, chief executive of SPC, Robert Giles, told the ABC the group behind Kyabram Jam Company was made up of local farmers. But an ABC investigation into the company's ownership reveals the business is owned through a complex system of Australian and Malaysian investment.

The Malaysian branch of Holstein is the majority shareholder, with $4 million in beneficially held shares.

Australia`s on-going passion and energy to 'sell-off the farm' is simply staggering to say the very least. Well known Aussie brands, even industries, are being bought up by foreigners at a rapid pace and the government allows it. Disgusting!

Yeah but still no report on the CNN whistle blower, or Chase Bliss Colasurdo getting 5 yrs jail for making deaths threats against the Trumpf family members, one may say it's all about *your* agenda ? but i for one could not possibly comment, 😉😉 auspol

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX to rise despite Wall Street earnings being hit by US-China tariffsAustralian shares are set to open moderately higher as Wall Street managed to post a minor gain, despite being weighed down by disappointing earnings from its major companies. Perhaps Trump’s greatest achievement is taking on China. Australia dropped the ball decades ago.
Source: abcnews - 🏆 5. / 83 Read more »