DATE: 1 JULY 2017


Kuranda group raises concerns over newly formed KUR-World financial backers

“The Kur-Alert group opposing the KUR-World development near Kuranda have raised concerns over the recent news that money for the project is going to come from a financial entity called Sandalphon Privilege Financial Group.”

Spokesperson Steven Nowakowski said: “A search of the company reveals that they were only formed four months ago which raises all sorts of questions about their viability. This company has no track record so no evidence that they are bona fide.”

Steven says, “Kuranda residents do not accept a massive development being started without clarity as to the credentials of the company behind it. This could be a ‘fly by night’ company seeking some quick gains on the Hong Kong stock market or investing funds from naïve foreign investors. Again, Kuranda residents, ratepayers and taxpayers will be left to clear up the environmental and financial mess when the project falls apart after stage 1.”

“Similar projects that have failed and burdened Queensland taxpayers to pick up the tab on ongoing environmental clean-up include the failed False Cape development near Cairns and the Port Hinchinbrook catastrophe. Also, the Paradise Palms estate has incrementally changed from an integrated resort with Golf Course to a high-density housing subdivision similar to the expected outcome of the Kur-World project.”

Steven concludes, “the Kuranda community will fight tooth and nail to retain the rural zoning of the subject property and protect the endangered Kuranda tree frog which has already had habitat destroyed by this reckless real estate speculator”.

For more information contact Steven Nowakowski