Timaru District Holdings Limited (TDHL) is a council-controlled organisation as defined by Section 6 of the Local Government Act 2002.
This Statement of Intent sets out the overall intentions and objectives for TDHL for the period 1 July 2022 to 30 June 2023 and the following two financial years. TDHL was incorporated on 29 October 1997 as a 100% owned subsidiary of the Timaru District Council with the intent to manage the commercial assets and investments of Timaru District Council. The initial cornerstone assets were the shareholding in PrimePort Timaru Limited and Alpine Energy Limited which TDHL purchased from Timaru District Council.
These remain key investments for TDHL forming intergenerational assets held in the interest of ensuring value add infrastructure is provided to the community. Value add infrastructure is that which in addition to being a commercial investment, adds value to the wider Timaru District by supporting the community and enabling its business to thrive.
Alpine Energy owns and manages infrastructure to provide secure reliable electricity supply in South Canterbury.
PrimePort owns and operates the port, cargo and marine services and facilities supporting and enabling the growth of our local economy through its connection to world markets.
TDHL also owns an industrial and commercial property portfolio which is directly and actively managed. The purpose of this portfolio is to provide a commercial return and support the capacity of the Port. In addition, TDHL owns a smaller portfolio of property aimed at supporting wider economic development and meeting the strategic priorities of the shareholder.
TDHL’s intention is to be profitable, to enable reinvestment in the business, deliver a return on investment to Council, and repay debt. Since its inception, the company has consistently paid a dividend to its Shareholder while also minimising debt levels.