fndc - Annual Report

Council Controlled Organisations

Far North Holdings Ltd

At a Glance

Interesting Facts

Far North Holdings Limited (FNHL) will continue to focus on moving major infrastructural projects forward and managing resources and activities efficiently to provide for further reinvestment in aviation and maritime developments. There will be impetus given to key strategic projects including both Paihia Waterfront redevelopment and the Opua Marine Industrial Park.

It is anticipated that demands on the Kerikeri airport infrastructure will continue and the Company will work with Council to explore options for meeting these with appropriate developments. There is further work required at Kaitaia airport to sustain and enhance the facility and position for continued growth in activity. The Company will continue to negotiate with the Crown for security of tenure of the airport lease to ensure investments are retained.

The Company will continue to pursue options for the redevelopment of various under-utilised commercial maritime facilities.

FNHL plans to return its non-strategic and community assets to Far North District Council and become an investor in only strategic and commercial assets, with a view to maximising its dividend to the community.

FNHL will consult with its shareholder to identify generic areas of new high priority infrastructure, and then invest in those sectors as opportunities arise. Because of its capital constraints, investing in new sectors will require FNHL to recycle its existing capital. This will be done by divesting (either partially via joint ventures or via a full divestment) some, or all, of its existing investments in strategic assets, most likely to a private sector operator.


Highlights of Performance
Number of Performance
Measures		 3
2008/09		 4
2009/10		 14
2010/11
Achieved
Not Achieved		 100%
0%		 100%
0%		 79%
21%

Statement of Service Performance

For FAR NORTH HOLDINGS LTD. the following pages detail:
  1. Service performance information provides the actual achievements, issues and challenges going forward for each performance measure against the Annual Plan 2010/11.

FYI: Key symbols are used to identify each measure contributing to Community Outcomes. For more information on Community Outcomes see the Community Outcomes Diagram.


Community outcomes


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