I don't think the floodgates have opened, but there is considerable interest in technology, knowhow and brands. M Group wanted thermal paper technology, a speciality of JACH's Melbourne subsidiary Mark Sensing. In 1993, Singapore Computer Systems, one of Asia's largest computer ventures, bought the Australia and New Zealand franchise for the U.S. retail chain Computerland. Last year Singapore shipyard giant Keppel Corp. took over and refurbished a small dry dock in Brisbane, and Malaysia's Johan Holdings bought the heating firm Solahart. The Malaysians have been busy raising their stakes.
Tourism is a strong magnet for Southeast Asian money.
As many Japanese have sold travel-related properties in Australia because of economic problems back home, other Asians are filling their shoes. Some of the hotels went really cheap. That brought Japan down from first to fourth place, after the U.S., Singapore and Britain. Still, Japan is No. 3 in cumulative value, with heavy stakes in resource industries like natural gas, alumina and mineral sands. Network Foods launched its Australian operations in 1986 with one wholesale concern in Melbourne.