Huang Xiangmo: Western Sydney University reviewing centre arrangements

Western Sydney University is ‘reviewing the governance arrangements’ of a centre funded by billionaire Huang Xiangmo.

20/12/16 Huang Xiangmo YuHu chairman pictured at the Sydney Opera House. Picture Renee Nowytarger / The Australian

Western Sydney University is “reviewi­ng the governance arrange­me­nts” of a research centre funded by Chinese billionaire Huang Xiangmo.

Mr Huang, who still sits on the board of the research centre and is currently stranded overseas, donate­d $3.5 million to set up the Australia-China Institute for Arts and Culture at the university.

Foreign Minister Marise Payne confirmed this week that the Australian government had revoked the permanent residency of Mr Huang, a political donor and property developer who had been ­living in a mansion in Mosman, on Sydney’s north shore. Further, the government declined his applic­ation for Australian citizenship.

The businessman, known for his patronage of former senator Sam Dastyari, funded the establishment of former foreign minister Bob Carr’s Australia-China Relations Institute at the Univer­sity of Technology Sydney before making the donation to Western Sydney University in Parramatta.

Despite Mr Huang’s current predicament, a WSU spokes­woman said Mr Huang and the general manager of his family company Yuhu Group were still on the advisory board.

“Mr Huang Xiangmo is a member of Western Sydney Univer­sity’s Australia-China Institute for Arts and Culture advisory board. He has not resigned,” the spokeswoman said.

“However, Mr Huang has not been an active member and has not attended a meeting since May 2016. Ms Holly Huang is a member of the ACIAC advisory board. She last attended a meeting in Octobe­r 2018.”

The university said, however, that it was looking into the centre’s governance.

“For several months, the university has been reviewing the governance arrangements of ACIAC more broadly, to streamline and simplify its structure. This process is ongoing.”

Mr Huang’s family company, which controls a diverse portfolio of Australian real estate assets, faces a number of problems follow­ing the visa determination by the government.

Mr Huang stepped down as head of Yuhu Group in December and the company is owned by his wife, Jiefang, and his son, ­Jimmy.

As first reported in The Aust­ralian this week, Yuhu has less than two weeks to produce ­another $10 million to postpone the completion date on a major Sydney real ­estate deal or face the prospect of paying for the $380m property development, the Bakehouse Quarter, in full.

The group is also yet to ­appoint builders for its $3 billion One Circula­r Quay development, despit­e the demolition of what was the Goldfields House being completed and early works continuing.

Yuhu has been ­embroiled in several disputes with builder Multi­plex over its Jewel complex on the Gold Coast and is yet to announ­ce a hotel operator.

Mr Huang has donated million­s of dollars to both sides of Australian politics. Asked whether political parties should return the donations, Science Minister Karen ­Andrews said: “It’s something for consideration.”