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    A big drop, but Rinehart is still richer than everyone else

    29/04/2019 - Author: admin

    The richest of the rich.Gina Rinehart’s personal wealth has shed a staggering $7 billion in the past 12 months, but even her losses exceed the total wealth of Australia’s next richest person, according to the BRW Rich 200 list, released on Thursday.
    Nanjing Night Net

    The mining magnate easily retained her position as Australia’s richest individual, with total wealth estimated at $22.02 billion, down from $29.17 billion last year. However, the $7.15 billion drop sustained by the mining magnate surpassed the total wealth of the man in second place, shopping centre developer Frank Lowy. His total wealth was up $400 million this year to $6.87 billion.

    Mr Lowy replaced commodities heavyweight Ivan Glasenberg in second place on the list after the chief executive of the newly merged GlencoreXstrata shed $1.79 billion, to drop to $5.61 billion and fifth.

    Mr Lowy is one of 18 people who has appeared in the Rich 200 every year of its 30-year run.

    Conspicuous by his absence from the Rich 200 is Nathan Tinkler, the coal mining tycoon who was beset by a series of debt problems and falling asset values that devalued last year’s listing of $915 million to a paltry-by-comparison $235 million.

    Another to depart the list is Therese Rein, the Queensland-based work services entrepreneur and wife of federal politician Kevin Rudd. Her absence reduces the number of women in the Rich 200 to 14, down from 16 last year.

    Making one of the biggest debuts in the history of BRW’s Rich 200 List is Hui Wing Mau, a Chinese-born property developer who resides in Hong Kong, but whom BRW discovered was educated at the University of South Australia and holds Australian citizenship.

    The 62-year-old is one of China’s largest real estate developers, with more than 70 projects in progress, rising to seventh on BRW’s list with an estimated wealth of $4.8 billion.

    He is one of 16 list members to be based overseas, up from 14 last year.

    Old money in general played a solid game over the past 12 months, with eight of the 18 long-time Rich 200 listees finishing the year with greater personal wealth than when it started.

    The country’s biggest private developer of residential apartments and another 30-year Rich 200 veteran, Harry Triguboff, lifted his wealth to $4.95 billion from $4.85 billion last year and rises one position to sixth.

    Solomon Lew bounced back after a few tough years for the retail sector, lifting his wealth to $1.70 billion from $1.15 billion this year.

    One of the best performers this year is James Packer, whose growing gambling and hospitality business boosted his wealth to $6 billion from $5.21 billion last year.

    Anthony Pratt and family move from fifth to fourth with $5.95 billion after good performances at their packaging business.

    Other standout performances include private hospitals owner Paul Ramsay. His wealth rose by $1.04 billion to $2.70 billion after strong share price growth by Ramsay Health Care.

    Retailer Gerry Harvey has also proved a few people wrong by lifting his wealth to $1.44 billion from $1.10 billion last year.

    This story Administrator ready to work first appeared on Nanjing Night Net.

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    Khawaja plans to silence his critics with key role in bringing home urn

    - Author: admin

    Stranded on the periphery: Usman Khawaja (left) wants to confirm himself as a worthy member of Australia’s top six. Photo: Brendan EspositoUsman Khawaja says he is misunderstood by some in the Cricket Australia hierarchy, admitting a casual exterior is often mistaken for a bad attitude by those who ”don’t really know me well enough”.
    Nanjing Night Net

    The 26-year-old has pinpointed the Ashes series in July and August as the battleground to finally confirm himself as a worthy member of Australia’s top six. He has been largely stranded on the periphery in the past two years, playing only six Tests since his debut in an Ashes Test in Sydney in 2011, and against England is desperate to put his days of being 12th man, a standby or an extra batsman on tour behind him.

    Khawaja, based in Queensland after quitting NSW last year, is well aware of a belief held by some within Australia’s management that his attitude needs improving.

    Being one of four players controversially stood down for a Test in India during that abysmal tour did not help his cause but the gifted Pakistan-born left-hander is adamant he works as hard as anyone.

    ”I think there has been a lot of new people in Cricket Australia and I think I get a lot of people that do say that don’t really know me well enough,” said Khawaja, who heads to England having clinched the County Championship Division 2 title for Derbyshire last year.

    ”I don’t think you can get to state level, or even playing for Australia for that fact, without working your arse off. I think it’s impossible. I’ve done a lot of hard work to get where I am. All I can do is go out there and prove myself on the field. All we’re thinking about right now is getting those Ashes back. I know if I can contribute to that then I can get a bit more comfortable where I am in international cricket.”

    Whether it’s the laconic gait that can give an impression he is not going full tilt, at training and on the field, he is not quite sure. ”What’s going on on the exterior is not always what’s happening on the interior for me,” he said. ”I might look very calm or whatnot when I’m batting, but it’s funny because sometimes in my head things are happening a lot quicker than what’s happening on the outside. All I care about is my teammates and what Pup [captain Michael Clarke] and the coach think and they’ve never said anything of that sort.”

    Speaking for the first time about being a member of the so-called Mohali Four – the players suspended for March’s third Test for not completing performance feedback on time – Khawaja explained his bitter disappointment but said he had learnt from the experience. He would likely have been recalled there, after the also dumped Shane Watson returned home for the birth of his son, but instead watched on from the naughty corner and did not play a Test all tour.

    ”I was training as hard as I could, as long as I could, trying to tick all the boxes, and it was unfortunate, probably miscommunication on my part, that I didn’t hand in what we had to hand in on time,” he said. ”I was disappointed, a bit frustrated, a bit angry, but … I’m just grateful to be on this Ashes tour.”

    This story Administrator ready to work first appeared on Nanjing Night Net.

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    Wanderers and Eels unite

    - Author: admin

    Strange bedfellows: the Western Sydney Wanderers and Parramatta Eels have teamed up in a bid to get Parramatta Stadium a much-needed upgrade.Parramatta and the Western Sydney Wanderers might be cross-code rivals, but they have joined forces in their campaign for a better stadium.
    Nanjing Night Net

    Eels officials have been in talks with their Wanderers counterparts about their future venue needs, with a revamp of Parramatta Stadium or the construction of a new facility in the region their preference. The teams are in heated competition for fans, members and sponsors, but they have found common ground in their desire to provide them with the best possible amenities. Both have ambitions of building membership bases that far outstrip the 20,000-seat capacity of their current premises.

    Eels chief executive Ken Edwards, who has extensive experience in stadiums strategy as the former chief executive of ANZ Stadium, confirmed he was in talks with Wanderers officials. ”We’ve had some discussions with the Wanderers around what their plans and what our plans are,” Edwards said. ”Our public position is that Parramatta is our home and where we always want to be. At the end of 2012 we had 12,000 members and now we have 16,000 members. Our market research, coupled with the work we’ve done with the NRL, tells us we should have up to 40,000 members by 2017.

    ”That obviously brings into sharp focus our stadium issues in terms of capacity and the facilities that go with it. Parramatta Stadium was built in the ’80s, and pretty much nothing has happened to it since then. In the meantime, there have obviously been redevelopments at ANZ Stadium and Allianz Stadium, meaning that, as a club, unless there are upgrades at Parramatta Stadium we are at a significant financial disadvantage and our members aren’t getting the sorts of facilities other members are getting. Anything that we and the Wanderers can do to get a better facility at Parramatta Stadium – or a new facility somewhere in Parramatta – is a good thing.”

    Parramatta have managed to grow their membership base during difficult times on the field – they ”won” the wooden spoon last year – while attendances for home matches remain fairly stable. However, the Wanderers became the hottest ticket in town during their fabled run to the A-League grand final. Their supporter group, the Red and Black Bloc, grew exponentially throughout the club’s debut season, and Football Federation Australia boss David Gallop is on record as calling for an upgrade of Parramatta Stadium ”based on the phenomenal success of the Wanderers in year one which has seen three sold-out matches”.

    The NSW government has outlined a stadium consolidation strategy, with ARL Commission boss David Smith confirming there will be a move towards playing matches in two or three larger venues in future. The Eels also plan to create a centre of excellence to replace their aged training facilities.

    Asked if they could share a high-performance unit with the Wanderers, Edwards said: ”It’s very difficult to share high-performance facilities, there aren’t too many examples that we’re aware of where that works. Our rugby league high-performance training requirements are very different to those of football. That’s not to say it couldn’t work … While have been having some informal discussions with the Wanderers we haven’t done anything formal with them. We’re still pursuing our own stand-alone high-performance community centre.”

    Twitter – @proshenks

    This story Administrator ready to work first appeared on Nanjing Night Net.

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    Tigers board cools on Marshall

    - Author: admin

    Just hours before Benji Marshall returns to the Wests Tigers’ starting side against North Queensland at Leichhardt Oval, chief executive Stephen Humphreys will hold talks with the five-eighth’s manager about his future at the club.
    Nanjing Night Net

    Marshall’s desire to sign a long-term deal with the club has been complicated by coach Mick Potter’s decision last week to dump him to the bench, potentially jeopardising the prospect of the Kiwi international finishing his career as a one-club player.

    In another potential sticking point, Humphreys announced his resignation on Saturday following the Tigers’ eighth straight defeat, a 54-10 shellacking at the hands of South Sydney.

    Humphreys has signalled his intention to leave the club in good shape and has made retention and recruitment a priority before he departs in two months. However, it is understood there are factions on the board who are opposed to parting with a large chunk of the club’s salary cap on a player struggling to regain his best form.

    Marshall is contracted until the end of 2015 but has a clause in his contract allowing for a renegotiation following any increase in the salary cap. Tigers powerbrokers viewed the discussions as an opportunity to also extend his tenure, on a deal believed to be worth $4 million over five years. However, it’s likely the Tigers will table a revised – and probably lower – offer for the next two years and put extension discussions on the backburner.

    It’s unclear whether Marshall will get an update on the talks before marking up on the world’s best pivot, Johnathan Thurston, later that night.

    ”It’s a situation that needs to be watched because Benji is a great and talented footballer, a very valuable property,” Tigers chairman Mike Bailey said. ”We are intending to get down to business on that before too much longer.”

    In a further development off the field, Bailey wrote to ARLC boss David Smith to formally invite him to propose a new corporate structure for the Tigers.

    After years of infighting, the Balmain and Western Suburbs factions have resolved to work together with the league to improve their corporate governance. One of the first things the ARLC is likely to review is the policing of rotating chairman, where a member of each faction chairs the joint-venture club for 12 months at a time. Smith and commission chairman John Grant expressed reservations about the structure at a meeting with Tigers officials on May 2, and the joint-venture club’s directors resolved to ask for the ARLC’s input at a board meeting last week.

    ”I’ve actually written a letter back to the league to thank them for the time they spent with us and tell them we’re only too happy to hear from them on the various fronts that were raised in the meeting in terms of what they wanted to put to us,” Bailey said.

    ”We’re asking for that assistance and guidance, and we will listen to what they have to say. It will then come back to the board to make a decision as to where we go from there. It’s in the post now, so to speak, and we are happy to hear from them.”

    The club expected to appoint a recruitment firm to find a replacement for Humphreys next week.

    This story Administrator ready to work first appeared on Nanjing Night Net.

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    Security footage after ordeal

    - Author: admin

    DETECTIVES investigating the apparent abduction of a man at gunpoint believe a man caught on security cameras at two Hunter railway stations could help them in their hunt for the suspect.
    Nanjing Night Net

    Closed circuit television footage at Beresfield and Hamilton stations within hours of the abduction show a man getting onto a Newcastle-bound service at Beresfield before alighting at Hamilton.

    Central Hunter detectives said the man in the stills was only wanted for questioning as they continued the hunt for the person who ordered a salesman into the boot of his car after forcing him to drive from Thornton to the outskirts of Woodberry on Monday.

    Mystery still surrounds the motives of the gunman who, after getting the 22-year-old victim to drive him to a dirt road at Millers Forest, forced the man into the boot with his mobile phone and fled on foot.

    The victim, who told police he was first threatened as he walked to his car in Huntington Drive in the Thornton Industrial Estate, was able to ring police from the boot of his white Holden Commodore sedan.

    The operators then directed him to pull an emergency release switch on the back of a seat and crawl to safety.

    He was found uninjured and trying to flag down passing motorists.

    The abduction caused a major search through scrubland surrounding Raymond Terrace Road on Monday afternoon.

    Crime scene experts have scoured the Commodore for clues and possible fingerprint and DNA profiles before sending samples to Sydney for further forensic analysis.

    Information should be forwarded to Central Hunter police on 4934 0200 or Crime Stoppers on 1800 333 000.

    QUESTIONS: Police believe this man may be able to help them in their investigation.

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