Wang told the Herald: “I was not previously aware that KPMG had reported difficulties contacting me. I am contactable and am willing to communicate with the liquidators regarding matters relating to the liquidation.”
Three homes were being built on the site at Poseidon Place, Half Moon Bay. Photo / Bayleys
Diamond Capital Investment was placed into liquidation on the application of the Commissioner of Inland Revenue through the High Court at Auckland.
Lining Wang is the 99% shareholder and a director and previously lived in Mellons Bay, Auckland.
The company, which was incorporated in 2020, was involved in property development activities, including the Half Moon Bay projects that ultimately stalled because of insufficient cashflow and an inability to meet obligations as they fell due.
Vincent Capital is listed as a secured creditor and the liquidator’s report notes that it claims to be owed $2.7m.
Auckland Council and Inland Revenue are also listed as creditors.
KPMG also noted that associated entities had been put into voluntary liquidation by the shareholder shortly before Diamond was liquidated.
The KPMG accountants are talking to the liquidators of those associated entities to understand more about the operations of the group and communications with the director.
They also wrote of the sale of a vehicle before the liquidation and said their investigations into that remained ongoing.
When the Herald contacted Wang, he immediately responded, saying his lawyer has been in contact with the liquidators.
“Given that the liquidation and related matters are ongoing, I do not wish to comment publicly on specific figures or individual matters at this stage,” he told the Herald.
Wang did not say where he was in Australia.
“KPMG had also been in contact with my lawyer. However, as far as I am aware, they did not raise with my lawyer any specific questions about the business for me to answer,” he said.
“I have not been seeking to avoid contact with the liquidators and will co-operate with them.”
His involvement in Australia began well before the liquidation, he said.
He had identified better business opportunities there in late 2024 and established his first Australian company in early 2025.
He said he subsequently spent increasing amounts of time in Australia developing those opportunities.
Advertising shows an attempt to sell the Half Moon Bay townhouses via a tender which closed on September 10.
Harry Cheng of Bayleys advertised the property as an exceptional opportunity for developers, builders and investors.
He said the buildings were standalone and separate. They only looked to be one development because they had scaffolding around them.
“It’s about money,” Cheng said of whether a market existed for the partly built homes.
Anne Gibson has been the Herald’s property editor for 26 years, written books and covered property extensively here and overseas.
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter – your essential weekly round-up of all the business news you need.