OCEANIA

Napier holding company mooted

16 years ago

A holding company may be established to operate a range of developing Hawke’s Bay Regional Council assets as well as its currently wholly-owned Port of Napier.

In addition to delivering “tax-grouping” and balance sheet benefits, such a move would enable the council to ring-fence risk and offset losses incurred by its budding forestry, water storage and irrigation investments.

Council chief executive Andrew Newman believes the initiative, which is currently under review, could potential save the organisation NZ$642,000 (US$454,000) in two years.