Shareholders Move to Vote against Chinese Directors, page-27

"The CuDeco board is now comprised of 4 Chinese Directors and 3 Australian directors; this imbalance is a result of China Oceanwide, New Apex Asia, and Sinosteel joining forces in a coalition ...."

More to the point, the imbalance isn't a result of them joining forces - that phrase doesn't make sense - the imbalance is a result of the company appointing board members as part of the deal whereby a Chinese company invests in CDU. Or, even more accurately (leaving aside the probability of one of the directors of Asian appearance is an Australian citizen) it has arisen as a result of two non-Chinese directors resigning. If the company had obtained three similar cornerstone investors from Australian institutions they too would have demanded board representation to protect their interests.

From memory all holders on HC welcomed the Chinese aboard CuDeco as the WM masterstroke, as shareholders, bankers and customers. This was the hallmark of CuDeco, pulling unexpected rabbits out of hats. Now they are upset because the Chinese are acting just as shareholders the world over do, trying to protect their own interests. The fact that the three largest shareholders, openly acting in concert, are all Chinese is entirely the company's doing. They actively courted them with minority shareholder approval. They are all (or are all backed by) large, commercial enterprises and act just like large, commercial enterprises anywhere. It could just as easily have been Brazilian, British and Japanese cornerstone investors acting in concert.

The whole tenor of the OP has an underlying racist undertone, which IMO is misplaced. It isn't the "Chinese", it's the three largest shareholders finally realising that what they've got isn't what they were led to believe, and they need to do something to ensure they don't lose half a billion. If it could be regarded as an Aussie/Others split; the Aussies have had their decade in the sun and failed to produce the promised results. Time for the Others to take a hand.