It is an intriguing corporate web that spreads from North Queensland, across Asia to the Caribbean.

"But those conditions aren't worth anything if, when something goes wrong, you try to find the company responsible and either it has no money or if it has money it's in a tax haven and you can't reach it."

"It will be non-transparent to the Australian Government as to what is going on, who owns it, who are the directors. To me it is a matter of national security."