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Secretive ‘Centrecorps’ owns many millions without real benefit

29 May 2015 Aboriginal assets in Alice Springs, through “principal investments,” as declared by Centrecorp on its website, are the Peter Kittle Motor Company [1] which also has a major presence in South Australia; Yeperenye Shopping Centre [2]; L J Hooker [3]; Milner Road Foodtown [not shown]; Chifley Resort [4]; Memorial Club [5] property; and properties at 75 and 82 Hartley Street [6].
Assetts influence our retirement rights, but that does nbot apply to Aboriginal land. The main reason is that land is not used to generate income. As editor Chlanda of the Alice Springs News writes: “Because all that would require work. Ah, that four-letter word”.
The secretive Centrecorp Aboriginal Investment Corporation Pty Ltd has minimal public disclosure obligations. An assett test is almost impossible. Two organisations, also extensively described in Wake Up Time, Kurra and the Granites Mine Affected Areas Aboriginal Corporation own funds of about $ 70 million. They rely on Centrecorp for its investment decisions.
It is time to open up the financials of these organisations and make the system as transparent as any other organisation.
Comment by Wake Up Time: Good job, Edwin Chlanda. The lack of work on these vast lands is at least partly caused by the Traditional Owners themselves. It is time to open up this injust financial network, especially for the people living in poor conditions in the Aboriginal towns.”

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