Opinion
Darwin port deal is a nice little earner
Landbridge's finances are hard to understand. And that was just the start of confusion for Corrs Chambers Westgarth.
Neil ChenowethSenior writerIt’s Christmas, so politicians are once more agitating for the government to take over billionaire Cheng Ye’s 99-year lease over the port of Darwin – a 2015 deal so labyrinthine it confused even law firm Corrs Chambers Westgarth.
It’s easy to misunderstand. At first sight Cheng’s Landbridge Infrastructure Australia has had another howler, reporting a $50.5 million pre-tax loss for its 2020 financial year operating the port.
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