❓ Question on Notice regarding the sale of land at Elizabeth Quay, focusing on due diligence performed on the purchasing companies and the source of funds, particularly concerning a British Virgin Islands intermediary.
AnsweredQoN 886Legislative Council
QuestionView source ↗
I refer to the sale of land at lots 2, 3, and 4 at Elizabeth Quay by DevelopmentWA in late 2016 and early 2017 to CA & Associates and CA Corporation, and I ask: (a) was the ownership of CA & Associates and CA Corporation investigated and vetted before approving this sale; (b) if yes to (a), will the Minister table information about the directors, shareholders and ownership of these two companies; (c) if no to (b), why not; (d) both CA & Associates and CA Corporation are publicly listed as being owned through a British Virgin Islands intermediary called Centure Smith Limited, and I ask: (i) was the ownership of Centure Smith Limited investigated and vetted before approving this sale; (ii) if yes to (d)(i), will the Minister table information about directors, shareholders and ownership of Centure Smith Limited; and (iii) if no to (d)(ii), why not; (e) is DevelopmentWA concerned that these investments are controlled through a corporate secrecy jurisdiction; (f) if no to (e), why not; (g) what specific steps did DevelopmentWA take to trace the sources of funds received by the State Government on the sale of lots 2, 3 and 4; (h) if no to (g), why not; and (i) has DevelopmentWA been questioned by regulators or audited on the sales of lots 2, 3 and 4?
AnswerView source ↗
Answered
2 December 2025
Responded by
Parliamentary Secretary to the Minister for Planning and Lands
Response time
6 days
(a) Yes
(b) This information is published via the Australian Securities and Investments Commission.
(c) N/A
(d)– (h) DevelopmentWA was satisfied based on its due diligence that the purchaser was able to fulfill its obligations in acquiring and delivering the subject developments. Acquisition of major landholdings by foreign interests is regulated by the Foreign Investment Review Board.
(i) No, other than in relation to the audit of the annual financial accounts of the Metropolitan Redevelopment Authority and the Western Australian Land Authority.
(b) This information is published via the Australian Securities and Investments Commission.
(c) N/A
(d)– (h) DevelopmentWA was satisfied based on its due diligence that the purchaser was able to fulfill its obligations in acquiring and delivering the subject developments. Acquisition of major landholdings by foreign interests is regulated by the Foreign Investment Review Board.
(i) No, other than in relation to the audit of the annual financial accounts of the Metropolitan Redevelopment Authority and the Western Australian Land Authority.
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