Huang Xiangmo's $135m planning windfall

The Chinese billionaire stands to make a $135 million profit from a Sydney planning decision, thanks to a local councillor who failed to declare a $4 million link to the developer.

Ryde deputy mayor Simon Zhou, left, with controversial Chinese political donor Huang Xiangmo. Zhou failed to disclose his financial links to Huang before the council approved a development set to make Huang over $130 million.

Edmund Tadros, Angus Grigg and Neil Chenoweth

Oct 30, 2019 – 12.00am

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Chinese billionaire Huang Xiangmo is set to make a $135 million profit from a Sydney planning decision, after the deputy mayor of a local council failed to declare his $4 million interest in another company owned by the property developer.

Simon Zhou, an independent who holds the swing vote on Ryde Council and is a key supporter of the Labor mayor, has only ever disclosed that he knew Mr Huang as a Chinese community leader.

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Edmund TadrosProfessional services editorEdmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom.

Angus GriggNational affairs correspondentAngus Grigg is an investigative reporter based in Sydney. He has worked as a foreign correpondent in China and Indonesia, and has won two Walkley Awards.

Neil ChenowethSenior writerNeil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards.