"Under Australian rules, foreign investors must seek government approval if they wish to take more than 15 per cent of a company worth more than $100million. The FIRB advises the Treasurer, who has 30 days to object before it is deemed accepted. Alternatively, the board can rule it wants a 90-day extension but this order is then made public, publicity many companies prefer to avoid."
So I take it Haoning Group who is apparently seeking only a possible 10% stake in BRM, should be fine - and would require no FIRB approval - (as FIRB approval is only required if a 15% plus stake is sought).
BRM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
