Year of living dangerously: Star’s Hong Kong backer still under cloud after 12 months
An investigation into Hong Kong conglomerate Chow Tai Fook’s suitability as an investor in the Queen’s Wharf development and the Star casino is still going, almost a year after it was announced.
An artist's impression of the completed Queen's Wharf project. (Supplied image)
Chow Tai Fook Enterprises is the investment holding company for the Cheng family in Hong Kong and one of Asia’s largest diversified conglomerates.
However media reports, including those by the ABC, alleged it had criminal associations.
The then-Attorney-General Shannon Fentiman said the allegations were “incredibly concerning” and they were referred to the Office of Liquor and Gaming Regulation.
The Government confirmed the investigations were still ongoing and as yet there was no timeline for any report.
The suitability of Chow Tai Fook was not investigated by the Gotterson inquiry, which delivered a damning report on Star’s governance issues, including money laundering. That led to a $100 million fine for Star.
Chow Tai Fook is part of the Destination Brisbane Consortium which is developing the $3.6 billion Queen’s Wharf project. The company also chipped into an $800 million capital raising by Star earlier this year.
Chow Tai Fook’s involvement in the Queen’s Wharf development was given the green light in 2015 when Destination Brisbane won the right to develop the project.
