Developer of giant Southbank tower hit by Ostar collapse

A developer planning to build Australia’s tallest tower in Melbourne has been caught up in the downfall of a Chinese-language media group accused of funnelling propaganda.

Beulah International’s proposed $2bn Sth Bnk project at Southbank.

The developer behind plans to build the nation’s tallest building in Melbourne has been caught up in the downfall of a media group accused of funnelling Chinese propaganda into Australia.

A company owned by Beulah International, which aims to build a $2bn dual tower project at Southbank, is being chased by liquidators of Chinese-language media publisher and broadcaster Ostar International Media Group over a loan.

Ostar is owned by Melbourne millionaire Jiang Zhao Qing, also known as Tommy Jiang, who has been accused of using his media platforms to rebroadcast Chinese state propaganda in Australia.

As well as his media interests, Mr Jiang has invested in property and tourism ventures across Melbourne and Sydney and held fundraising events for both major political parties.

Ostar International Media Group owner Jiang Zhao Qing, also known as Tommy Jiang.

A report by Ostar’s liquidator shows Eastern International Property Development, which is owned by Beulah, received a $563,796.75 loan from Ostar.

The Malaysian-backed developer is behind the Sth Bnk by Beulah project at Southbank which would rise 365m – 46m higher than Australia 108 and 71m higher than Eureka Tower.

Ostar liquidator Matthew Jess, from insolvency specialists Worrells, has written to debtors to ask for the money.

“I have issued loan account demands to all registered entities noted above and am awaiting responses,” Mr Jess said in a report lodged with the Australian Securities and Investments Commission.

“A number of the loan claims appear to be aged and prospects of recovery are uncertain.”

Beulah said it had only taken control of Eastern International in December when it bought the Hanover House property in Southbank from Mr Jiang.

The Herald Sun understands Beulah is arguing it is a creditor to Ostar, not a debtor.

Beulah International plans to build a $2bn tower at the BMW site at Southbank.

“Beulah International is working with the liquidator appointed to Ostar International Media Group in relation to the matter,” the company said in a statement.

Hanover House neighbours Beulah’s key Southbank site at the BMW showroom site on City Rd.

Ostar was taken over by a court-appointed liquidator in March following legal action by a disgruntled creditor.

Those facing losses include the Australian Taxation Office, owed close to $550,000, and radio group JLS Media which is owed about $287,000.

Ostar’s key platform was the 3CW Chinese-language radio station which no longer appears to be broadcasting.

Mr Jiang’s other media business, Global CAMG Media, which is 60 per cent owned by Chinese-state radio group China Radio International, remains solvent.

Mr Jiang is mentioned numerous times in a report about Chinese government influence in local media released last year by the Australian Strategic Policy Institute and featured heavily in a 2019 Four Corners report on the same issue.