New Zealand has borrowed money from offshore banks, the International Monetary Fund (IMF), and the World Bank over the past 40 years, but the exact amount owed at any given time can vary depending on factors such as interest rates, repayments, and new borrowing.
As of March 2021, New Zealand's external debt (which includes both public and private sector debt owed to overseas entities) was NZD 383.9 billion (approximately USD 263 billion). This figure includes debt owed to offshore banks as well as to multilateral institutions such as the IMF and the World Bank. The banking industry in New Zealand is dominated by a small number of large Australian-owned banks, along with a number of smaller domestic banks.
Total gross net debt stands at $722b.
Who Owns The Banks:
As of 2021, the four largest banks in New Zealand by market share are all owned by Australian banking groups. These banks are:
ANZ Bank New Zealand, which is owned by the Australia and New Zealand Banking Group Limited which is owned by BlackRock, Inc., The Vanguard Group, Inc., Norges Bank Investment Management, State Street Global Advisors (US), Commonwealth Bank of Australia
ASB Bank, which is owned by the Commonwealth Bank of Australia (CBA) which is owned by BlackRock, Inc., The Vanguard Group, Inc., Norges Bank Investment Management, State Street Global Advisors (US), Massachusetts Financial Services Co.
Westpac New Zealand, which is owned by Westpac Banking Corporation (Westpac) Who is owned by- BlackRock, Inc. The Vanguard Group, Inc., Norges Bank Investment Management, State Street Global Advisors (US), Dimensional Fund Advisors LP
BNZ (Bank of New Zealand), which is owned by National Australia Bank (NAB) which is owned by- BlackRock, Inc., The Vanguard Group, Inc., Norges Bank Investment Management, State Street Global Advisors (US), Capital Research Global Investors
Who Owns NZ Top 10 companies as of 2021
Fonterra - however note NZ farmers owe around $65b to the banks- The top ten shareholders of Fonterra Co-operative Group Limited, which is a New Zealand multinational dairy co-operative, were as follows: Dairy Farmers of New Zealand Limited - 11.93% ownership, Fonterra Shareholders' Fund - 6.21% ownership Dairy Holdings Limited - 3.85% ownership Colin Armer - 2.33% ownership, Cullen Investments Limited - 1.95% ownership, Southern Pastures Limited - 1.57% ownership, Craigmore Sustainables Limited - 1.43% ownership, New Zealand Superannuation Fund - 1.34% ownership, National Nominees Limited - 1.23% ownership, North Island Farmer Cooperative Limited - 1.23% ownership
Auckland International Airport - Publicly traded on the New Zealand Stock Exchange (NZX) with a diverse range of shareholders. Accident Compensation Corporation (ACC) , Government of Singapore Investment Corporation (GIC) - a sovereign wealth fund established by the Government of Singapore to manage its foreign reserves. The Vanguard Group, Inc. - an American investment management company. BlackRock, Inc. - an American global investment management corporation. Norges Bank Investment Management - the investment management division of Norway's central bank.
Fletcher Building - Publicly traded on the NZX with a diverse range of shareholders. Capital Research Global Investors - an American investment management company. BlackRock, Inc. - an American global investment management corporation. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. Commonwealth Bank of Australia - an Australian multinational bank.
The Warehouse Group - Publicly traded on the NZX with a diverse range of shareholders. Harbour Asset Management Limited - a New Zealand-based investment management firm. BlackRock, Inc. - an American global investment management corporation. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. First Sentier Investors (Australia) - an Australian-based investment management company.
Spark New Zealand - Publicly traded on the NZX with a diverse range of shareholders. Accident Compensation Corporation (ACC) - a New Zealand government agency that manages the country's universal no-fault accidental injury scheme. BlackRock, Inc. - an American global investment management corporation. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. Commonwealth Bank of Australia - an Australian multinational bank.
Z Energy - Publicly traded on the NZX with a diverse range of shareholders. Infratil Limited - a New Zealand-based infrastructure investment company. Accident Compensation Corporation (ACC) - a New Zealand government agency that manages the country's universal no-fault accidental injury scheme. BlackRock, Inc. - an American global investment management corporation. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank.
Meridian Energy - Publicly traded on the NZX with a diverse range of shareholders, but majority owned by the New Zealand government. Accident Compensation Corporation (ACC) - a New Zealand government agency that manages the country's universal no-fault accidental injury scheme. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. BlackRock, Inc. - an American global investment management corporation. Commonwealth Bank of Australia - an Australian multinational bank.
Genesis Energy - Publicly traded on the NZX with a diverse range of shareholders, but majority owned by the New Zealand government. Accident Compensation Corporation (ACC) - a New Zealand government agency that manages the country's universal no-fault accidental injury scheme. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. BlackRock, Inc. - an American global investment management corporation. First Sentier Investors (Australia) - an Australian-based investment management company.
Contact Energy - Publicly traded on the NZX with a diverse range of shareholders, but majority owned by Origin Energy of Australia. The Vanguard Group, Inc. - an American investment management company. Norges Bank Investment Management - the investment management division of Norway's central bank. BlackRock, Inc. - an American global investment management corporation. Accident Compensation Corporation (ACC) - a New Zealand government agency that manages the country's universal no-fault accidental injury scheme. Commonwealth Bank of Australia - an Australian multinational bank.
Air New Zealand - Publicly traded on the NZX with a diverse range of shareholders, Air NZ owned by New Zealand Government - 51% ownership. Accident Compensation Corporation (ACC) - 6.12% ownership. Capital Research and Management Company - 4.91% ownership. BlackRock, Inc. - 3.11% ownership. The Vanguard Group, Inc. - 2.49% ownership
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The Vanguard Group, Inc. is a privately held American investment management company, the ownership of the company is not public information. Vanguard is owned by its funds, which in turn are owned by the shareholders of those funds. The company operates as a mutual organization, meaning that it is owned by its investors rather than by external shareholders or investors.
Top five owners of The Vanguard Group, Inc. are the shareholders of its funds. Vanguard's largest funds, such as the Vanguard Total Stock Market Index Fund and the Vanguard 500 Index Fund, have thousands of individual and institutional shareholders. Norges Bank Investment Management - the investment management division of Norway's central bank.
BlackRock, Inc. - an American global investment management corporation. Itself owned by The Vanguard Group, Inc. - 7.02% ownership BlackRock, Inc. - 6.39% ownership State Street Corporation - 4.32% ownership Fidelity Management & Research Company LLC - 2.03% ownership Capital Research Global Investors - 1.63% ownership.
News !
I just heard the NZ Government gave $140m to NZ Steel- owned by BlueScope steel a highly profitable Australian public listed company which made $3b last year- and guess who are BlueScope's largest shareholders- BlackRock Fund Advisor, State Street Global Advisors, The Vanguard Group, Inc, Norges Bank Investment Management, Dimensional Fund Advisors LP, BlackRock Investment Management (Australia) Ltd, Vanguard Investments Australia Ltd, State Street Global Advisors Trust Co, BlackRock Investment Management (UK) Ltd, BlackRock Advisors (UK) Ltd. see - https://thespinoff.co.nz/
Who Owns NZ Forestry:
Between 1990 and 1996 the New Zealand government - the politicians, sold over 550 000 ha of planted forests we the people once owned to the private sector - offshore owned companies. Today the income from those radiata forests nets around $55,000 per HA - therefore 550,000 HA is worth $30,250,000,000 income. The NZ government of Labour and National sold those forests for less than $3b.
Who Owns the Land:
Out of the top 50 land owners, 20 are foreign and own more than 1.5m acres.
Three of them were defendants in the Matakana Island litigation-Blakely, Ernslaw and ITT Rayonier.
ITT Rayonier: Matariki Forests which is actually ITT Rayonier listed number 4 yet their webpage shows they have 110,000 HA. Their former Managing director Charles Margiotta gave false evidence in the Arklow litigation (Matakana island ownership) and that was confirmed by their in house lawyer in a meeting with Sir Peter Tapsell.
Blakely Pacific: Blakely listed at no 7, they purchased Matakana Island from Maori leaders who made millions in one of New Zealand's biggest Maori leadership scams. Try asking anyone from Tauranga who owns Matakana and they will say the Maori do- they don't, its owned by Blakely who are the largest property developers in North West USA and another shell company who hides its real owners. The Government gave 10,000 acres of Matakana island to the Maori in 1994 but the iwi leaders put the ownership under their own names in a private company called Te Kotukutuku Corporation- do a company search - you will see the former iwi chairman Howard Palmer, their accountant Graeme Ingham, Tauranga Moana Trust Chairman Enoko Ngatai, trust chairman John Neill, RMA liaison manager Don Shaw the major shareholders and they sold it to Americans despite the fact they pleaded with the Government to get them their sacred land back. see - https://cmwingate.blogspot.com/2023/04/apartheid-new-zealand-judges-caught.html
And they killed Sonny Tawhiao who tried tackling their corruption -
Question government refuse to address in the Justice Select Committee - Did Sonny Tawhiao’s complaints about iwi leadership corruption offer a problem to iwi leadership who were also the personal shareholders of Te Kotukutuku Corporation?
Did the Tauranga police fail to investigate (Waitangi manager WAI 215) Sonny Tawhiao’s death?
Did the tribal leadership of Ngai Te Rangi breach their fiduciary duty by directing tribal assets into their own personal names? Was that action theft by a person in a special relationship?
Did the Maori group submit to the Court that the Matakana Island land and forestry and housing assets were going to be jointly owned on a 51/49 basis with a charitable entity known as Matakana Island Trust and was it not correct that the trustees then transferred that benefit into their own names?
Did the tribal leadership of Ngai Te Rangi, namely its Chairman Howard Palmer, accountant Graeme Ingham, Tauranga Moana Trust Board Chairman Enoka Ngatai, iwi Resource Management Act manager Don Shaw, Matakana Island Trust Chairman John Neill provide the High Court affidavits claiming the Matakana Island was sacred and subject to a Waitangi claim but perverted the course of justice by failing to tell the court they were personally shareholders set to gain real estate worth more than $100m should the court assist them gain ownership at Arklow’s expense?
Despite the claims which the Crown supported that the Matakana Island land was sacred; did the Maori group involved, namely Te Kotukutuku Corporation, sell that land to developers in 2007 resulting in none of the $100m plus going to Ngai Te Rangi iwi or charity Matakana Island Trust, but instead all of it going into the pockets of the Maori leadership, their accountant and lawyers who misled the court?
Ernslaw One: Listed as no 2. Ernslaw made their money raping the rain forests of Asia. Their business model was to negotiate with politicians with a gun and bag of cash- either take the money and hand over the rain forest or else. The details of those events has been covered by various news organisations, Greenpeace and Save the Rainforest organisations, but through the help of NZ lawyers they have been able to become NZ’s 2nd largest land owner. Their company secretary is NZ lawyer Jack Porus who also perjured his evidence in the Matakana Island litigation.
1. Taumata Plantations Limited (101,854 hectares): Taumata Plantations purchased the former Carter Holt Harvey forests and has kept a significant majority of the land, recently on-selling some of it to New Zealand companies. The company is ultimately owned by several overseas investment funds and banks. The largest shareholder is Manulife, a major Canada insurance company.
2. Tiong family (77,686 hectares): The Malaysia-based, family-owned Tiong Group own forestry, media and property assets around the world. Their land holdings in New Zealand include the Ernslaw One forests, New Zealand King Salmon, and land owned by their property and land development company, The Neil Group.
3. New Forests Asset Management (77,465 hectares): New Forests is an Australia-based assets management company that operates several investment funds in New Zealand, owned by several subsidiaries. It has amassed its forestry land portfolio in less than four years, starting with purchases in the Wairarapa in 2016. An Overseas Investment Office investigation into one subsidiary's purchases resulted in a formal warning, an $80,000 charity donation and $20,000 in costs.
4. Matariki Forests (73,509 hectares): Another forestry company, three-quarter-owned by the US-based Rayonier. The remaining quarter of the company's shareholding is owned by an Australian-registered company, Waimarie Forests Pty Limited.
7. Port Blakely Limited (35,889 hectares): Another US-owned forestry company.
8. Global Forest Partners LLC (33,706 hectares): Global Forest Partners, registered in the Cayman Islands, is the ultimate owner of two private investment funds that own forestry land in New Zealand.
13. Sumitomo Forestry Company (25461 hectares): Japanese forestry giant, part of the Sumitomo group. Most of the company's New Zealand land is in Nelson and Tasman.
14. Lone Star Farms Limited (22365 hectares): A farming corporate owned by Nelson-based American businessman Tom Sturgess. Land holdings include five South Island farms. Lone Star is also the shareholding company of Verity Farms NZ, which owns Godley Peaks Station in Canterbury.
15. Corisol New Zealand Limited (18231 hectares): Swiss-owned investment company, which purchased forestry land from Ngāi Tahu in 2011.
16. Nelson Forests Limited (18135 hectares): Owned by Australian forestry investment company OneFortyOne, which purchased the company and its land from another foreign-owned company last year.
19. China Forestry Group New Zealand Company Limited (17087 hectares): Ultimately owned by the Chinese government's State Forestry Administration. Owns forests throughout the North Island.
22. The Westervelt Company (15341 hectares): US-owned timber company that operates forestry, honey cultivation, hunting and tourism businesses on Poronui Station near Lake Taupō. The land includes the exclusive Poronui Lodge.
26. Oceana Gold (New Zealand) Limited (13682 hectares): Australian-owned owner and operator of the Waihi gold mine.
28. Southland Plantation Forest Company of New Zealand Limited (13366 hectares): Ownership of this South Island forestry land is split between three major Japanese companies - Fuji Xerox, Itochu Corporation, and Oji Holdings.
29. Lees Valley Station, LLC (13114 hectares): The US company purchased Mt Pember Station, one of New Zealand's largest sheep and beef farms, for $30m in 2013 and converted it to dairy. RNZ was unable to determine the ultimate owners of the US company.
30. Greenheart Mangakahia Forest Land Limited (12558 hectares): Hong Kong-based investment company that owns forests in Northland.
31. Doug and Mari Harpur (12512 hectares): North American deer farmers and foresters, the Harpurs purchased neighbouring Southland farms Fairlight Station and Cainard Run in the early 2000s.
32. Juken New Zealand Limited (12435 hectares): Owned by Japanese forestry company WoodOne. Juken's forests are in the Wairarapa and near Gisborne, where it owns a mill.
33. Christian Welte (12309 hectares): A Swiss bio-engineer, Mr Welte's New Zealand company Monte Capital Limited owns several East Coast farms in the North Island as well as forestry blocks.
45. Anthony Czura (9580 hectares): Swiss national Anthony Czura is a co-founder of Swiss-based investment firm Czura Thornton. He owns Ngatapa Station in Hawke's Bay.
Further information on Ernslaw, the 2nd largest foreign land owner in NZ can be found in the media links below.
https://news.mongabay.com/.../asias-biggest-logging.../
https://www.sarawakreport.org/.../predator-logging.../
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