Timaru District Holdings Limited (TDHL) is a council-controlled organisation as defined by Section 6 of the Local Government Act 2002 (the Act).
The Statement of Intent also recognises that for TDHL to continue to deliver a sustainable financial return, we need to re-invest and consider diversification options. Critically, these must be balanced against our existing priorities and be consistent with our shareholders values.
The beginning of this re-investment can be seen already through the Aorangi Road industrial land acquisition and the growing balance sheet.
This land will be progressively developed and positioned to respond to market opportunities.
Our strengthened relationship with our intergenerational associate investments of PrimePort Timaru and Alpine Energy has enabled us to better understand the unique challenges each of these companies face in their respective sectors. Proactively managing Board appointments and joint venture partner relationships is our primary means of ensuring that these companies are equipped with the highest calibre directors, achieve their objectives and provide a financial return.
As we move into 2023/24, mindful of the economic and political uncertainties that lay ahead, we are confident that TDHL is well placed to achieve our objectives, align closer with our shareholder through their Long Term Plan, and continue to re-invest in the companies capability and capacity.