$windler$


VicForests is the ultimate entity of entitlement, yet is still unable to ‘operate its business … as efficiently as possible consistent with prudent commercial practice’, as its Charter states it must.

In the last 10 years VicForests debt to the public could build 10 new schools, pay for 96 extra teachers or deploy five Erickson Skycranes each summer.

It has taken $25million in government grants and subsidies to help it haul $300 million of free logs from our forests for which it still owes Victorians $74million in unpaid dividends. It has never been economically viable.


Mr Napthine gives generous welfare handouts to the state’s biggest environmental vandal. If VicForests were an individual it would be called a hopeless dole bludger.  If it were a company it would have been bankrupted years ago as a fraudulent business.  

A Commission of Audit into this logging monopoly is the very least that should be held. They’ve been on the take since 2004.

VicForests' dividend - the truth!

13 November 2015

invoice to VicForests from the Victorian public 2015

View invoice (PDF) here

Opening VicForests 2014 - 2015 Annual Report, the corporation's chairman, Gordon Davies, makes the proud assertion that "These results have enabled us to pay increasing dividends to the Government, providing a financial return to the people of Victoria in addition to all of the social benefits the native timber industry provides". This is reinforced by a similar claim in the CEO's Report, "Our ongoing positive financial position has enabled us to pay dividends to our shareholder, the Treasurer - $250,000 based on the 2012-13 results, $765,000 on the 2013-14 results and a proposed $1.5 million based on this year’s results". 

In case anybody has missed it, "Payment of a dividend of $765,000 based on 2013-14 results", is reiterated as a 'Highlight' of the Annual Report. 

These misleading claims appear to be deliberately repeated in order to imply that a dividend was paid during the reporting year.

VicForests – 11 years of loss-loss

13 November 2015

VicForests is crowing that this 2014/15 year, it made a profit of $4.68 million.

And for the first time in eight years, a dividend of $765 000 was paid to the people of Victoria via the Treasurer and VicForests is still thinking about paying last year’s owed dividend of $1.5 million. Whether we’ll see it is another thing. On a backlogged debt of $60 million, it’s a start. VicForests claims it’s paid a return to Victorian’s of $5 million (in 2006 and 2007). $5 million represents a very small recompense to the state for $871 million worth of publicly owned wood pulp and timber from our native forests.

VicForests - now a tax-dodger too

10 April 2015

It is not only hi-tech internationals like Microsoft, Google and Apple that are rorting the tax system to minimise declared profits and therefore pay less tax.

Low-tech, state-owned native forest logging corporation, VicForests, has been at it for years. Since  2007 VicForests has posted total revenues of almost $1 billion raised from the sale of public wood-chips and timber.. Two-thirds of this is paid to a small number of loggers and hauliers  and the balance is spent on running VicForests, including the CEO's wage of over $300,000 per annum, about the same as the Premier's.

VicForests’ Relies on Loans and Over-states Equity to Conceal Poor Performance

23 July 2013

VicForests, the state government’s native-forest logging agency, has incurred cash losses of $22.2 million since it commenced operating in 2004, says a new report, commissioned by volunteer group Healesville Environment Watch Inc. (HEWI). This equates to $1.50 for each cubic metre of wood (pulp and saw logs) it has sold. The report was conducted by the New Economics Advisory Service of the Australian Conservation Foundation.

Pages