Timaru District Holdings Limited (TDHL) is a council-controlled organisation as defined by Section 6 of the Local Government Act 2002 (the Act). Accordingly, this Statement of Intent is prepared in accordance with section 64(1) of the Act.
This Statement of Intent sets out TDHL’s strategic framework and the resulting activity and financial performance measures by which the performance of TDHL can be judged in accordance with the statutory requirements of Part 2 of Schedule 8 of the Act. It applies to the period 1 July 2023 to 30 June 2024 and the following two financial years.
TDHL was incorporated on 29 October 1997 as a 100% owned subsidiary of the Timaru District Council. Its purpose is to manage and grow an investment portfolio that provides a sustainable intergenerational return and is aligned with the values of the Shareholder.
The initial cornerstone assets were the shareholding in PrimePort Timaru Limited and Alpine Energy Limited which TDHL purchased off Timaru District Council. These remain key investments for TDHL forming intergenerational assets held in the interest of ensuring the community is provided with value add infrastructure.
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 along with facilities that support and enable the growth of our local economy through its connection to world markets.
TDHL also owns an industrial and commercial property portfolio which it actively manages. 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 investment.