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Tuesday, 21 August 1984
Page: 78

(Question No. 893)


Senator Childs asked the Minister representing the Treasurer, upon notice, on 29 May 1984:

(1) What is the level of South African investment in Australia.

(2) What is the level of Australian investment in South Africa.

(3) What is the level of Australian investment in other countries in the southern part of Africa, for example, Tanzania, Angola, Botswana, Mozambique, Zambia and Zimbabwe.


Senator Walsh —The Treasurer has provided the following answer to the honourable senator's question:

(1) The level of South African investment in corporate equities in Australian enterprises as at 30 June 1982 was $6m. The level of South African investments in other net assets in Australian enterprises was zero at that date.

(2) Statistics on the level of Australian investment in South Africa are available in respect of direct investment only. The level of direct Australian investment in South Africa at 30 June 1982 was $8m in corporate equities and $5m in other net assets.

(3) Separate statistics on the levels of Australian investment in other countries in the southern part of Africa are not available. However, the total level of direct Australian investment in African countries other than South Africa at 30 June 1982 was $5m in corporate equities and $1m in other net assets . Comparable statistics for investment other than direct investment are not available.

An important limitation regarding the current basis of valuing levels of investment in corporate equities should be noted. Corporate equities are valued at the paid-up value of the Shares and hence the levels of investment in such equities exclude share premiums, reserves, provisions and retained earnings. The equity figures quoted above, therefore, may bear little relationship to the actual level of equity funds to which the investors have claims. For this reason , the levels of investment in corporate equities and other net assets are provided separately and are not aggregated.