Auckland developer in Kāinga Ora partnership goes bust, Rotorua housing project up in the air
An Auckland-based development company that went into partnership with Kāinga Ora to build 36 apartments in Rotorua has gone bust.
Realm Victoria Ltd has been placed into liquidation and the construction of the apartments on Victoria St, near Rotorua Central, is up in the air.
Kāinga Ora bought the site
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
1News
3 hours ago
- 1News
Foreign exchange fined amid transactions deemed 'objectively suspicious'
An Auckland-based foreign exchange and money remittance company has been convicted and fined $1.125 million for failing to report suspicious activities and to submit prescribed transaction reports. An investigation by the Department of Internal Affairs (DIA) found that Qian DuoDuo Limited, which traded under the name Lidong Foreign Exchange, found it failed to report 197 international transactions to China between June 2018 and September 2019. The transactions, which totalled over $19.14 million, included 26 "objectively suspicious" activities with a value of $4.72 million and 171 involved prescribed transactions with a value of $14.42 million. The value of the nearly 200 transactions represented around one fifth of the gross value transactions undertaken by Qian DuoDuo Limited for the 2018/2019 financial year. Two individuals who completed the transactions, Xiaoyu Lu and Musubayoufa Fuati, were convicted of criminal offending. ADVERTISEMENT Fuati was convicted of structuring transactions to avoid anti-money laundering laws, while Lu was convicted of providing unregistered financial services, as well as multiple counts of money laundering. Both pleaded guilty to their charges. In sentencing, the Auckland District Court found the company failed to carry out adequate customer due diligence on the source of Fuati and Lu's funds and relied on questionable verification documents despite recognising a high risk that its operations could be used to launder money. Anti-money laundering and countering financing of terrorism director Serge Sablyak said Internal Affairs took offences under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 "very seriously". "Suspicious transactions have the potential to be linked to money laundering or terrorist financing activities. Prescribed transaction reports are vital in alerting law enforcement to suspected offenders and make money laundering and terrorist financing difficult to hide." Sablyak said Qian DuoDuo Limited had a "history of non-compliance". "In 2017, the Department took civil action against the company following non-compliance with its obligations, and the High Court confirmed multiple breaches of the company's legal obligations. "When financial institutions, including money remitters, continue to fail to meet their obligations under the Act, the Department can and will take action." ADVERTISEMENT Qian DuoDuo Limited appealed the District Court's decision to the High Court.
RNZ News
6 hours ago
- RNZ News
Menopause an industry and medicalised problem
Menopause has become an industry and a medicalised tik tok problem when it is a normal part of life, one medical expert has said. Checkpoint has been looking at the issue this week after an Auckland woman complained her GP is charging three hundred dollars for a menopause consultation to discuss hormone replacement therapy when a standard appointment at the clinic is only 70 dollars for an enrolled patient. The menopause appointment is 45 minutes versus 15 minutes for a regular consult. President of the New Zealand College of General Practioners Doctor Samantha Murton spoke to Lisa Owen.
Otago Daily Times
7 hours ago
- Otago Daily Times
Bring on the drones
An Australian-based company is pitching drone light shows for Queenstown over three months that'd not only be an amazing spectacle, but could potentially also drive big visitor numbers, especially during shoulder seasons. Drone Sky Shows, the southern hemisphere's largest drone light show provider, put on Dunedin's first Matariki drone show last winter, with a New Zealand-record 201 drones, and is doing it again this month. Its first show in Perth, in 2022, drew an estimated 60,000 to 80,000 people. Shows feature illuminated, synchronised and choreographed groups of drones arranged into various aerial formations — just about any shape can be brought to light. Local Chamber of Commerce chief executive Sharon Fifield believes the shows, each about 10 minutes long, would be perfect for Queenstown. ''What I like about the concept is it's something a bit different, it's low-impact to the environment, unlike fireworks, and then people can come into Queenstown and have a bit of a show before they head out to dinner and to the bars. ''Even our animals might like it. ''Events are perfect for these quieter times and for getting locals to come into town. ''We've lost Luma from the Gardens but it's almost taking Luma into the sky with a kind of light show.'' Luma — now transitioned into a winter-long 'Luma Enchanted' show at Kiwi Park — ran in the Gardens for almost 10 years and last year attracted about 32,000 visitors over King's Birthday Weekend. However, organisers pulled the plug due to rising costs. Drone Sky Shows owner Josh Van Ross believes Queenstown's an ''exceptional'' light show venue. He's proposing a 300-to-500-drone show over the Gardens ''which would point back at the town and just blow the socks off anyone who would come there''. ''We'd do a weekly show, Friday or Saturday night, we'd change it up multiple times and we'd love to really drive traffic back to Queens-town when it's shoulder season.'' Van Ross says there could be a ''family-friendly'' 6pm show and another at 9pm. ''This would be a first of its type for New Zealand as a residency — it's the same as kind of what the Maldives and other really high-end tourism destinations have.'' According to a proposal sighted by Mountain Scene, a 'standard' 100-drone show could cost $45,000, rising to $100,000 for 300 drones. Van Ross says the set-up costs are massive, ''but if we can set up there for two or three months the price per show comes down drastically''. A sponsor who came onboard could also have their logo beamed at the end of the show, he suggests. He'd be keen to collaborate with a local artist ''who can really make it speak to the people of Queenstown''. As far as setting up the show, Van Ross' NZ CEO and 'mission commander' is Queenstown-raised Shane Wild, who lives in Cromwell and stores almost 250 drones himself. Wild, who commutes to Queenstown most days, says a show would take just three months to organise. ''Mate, I can't believe we haven't done one here yet.'' scoop@
