Transfield, Risk-shifting and the Value of the Biennale

The Transfield Foundation is the major sponsor of the 19th Biennale of Sydney.

Transfield Services Ltd (TSE) is a publicly-listed infrastructure company and a major contractor in the Australian Government’s “detention network,” in particular the offshore internment facilities on Manus Island and Nauru.

While Transfield Holdings (the family-owned company) distances itself from Transfield Services’ involvement in mandatory detention they are significant shareholders in Transfield Services, use the same logo and name and they also—particularly when there is positive cultural value involved—recombine in the case of sponsorship of the Biennale, in the form of the Transfield Foundation.

schainThat is, Transfield Foundation—the sponsor of the Biennale—is a joint venture between Transfield Services and Transfield Holdings.

‘Risk’ is “the potential of losing something of value, weighed against the potential to gain something of value.” See also: ‘financial risk.’

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