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Tainui Group Holdings
Annual Report
2012
Mike Pohio, Chief Executive.
Theyear ahead
While we have seen the company beneft this year
from the work on
nd the
hotel, we are under no illusions that 2013 will
be challenging and will require a lot of dedicated
work to maintain current levels of performance.
Despite benefting from fresh earnings for these
two recent projects, there will be no revenue uplifts
from any of our investment properties beyond them.
And while some of our longer term leases are in the
process of being renewed, we expect the outcomes
will refect the prevailing market conditions.
All this means we’ll need to pay close attention to
improving the effciency and effectiveness of our
management of existing assets, and to constantly
review our portfolio to identify and deal with any
poorly performing assets. We will continue to look
here and overseas for best practice, in particular to
keep tabs on changing trends, and look to apply these
to our existing and future developments.
In the year ahead our focus will be very much
on Ruakura, along with the auto precinct, traffc
infrastructure and forward planning at
. The
company is working on some smaller, short to medium
term developments, notably at Rotokauri (residential)
and Bryce St (commercial). It is also examining a
range of other opportunities that will enable further
diversifcation of its investment portfolio.
Having said all that, TGH will still take up opportunities
that come its way and which make strategic and
commercial sense.
Thanks
I’d like to especially thank the other members of the
management team, all of the staff and our graduates
for the speed and quality of their efforts in 2012.
From the point of view of the staff, I would also like to
place on record our sincere thanks to the outgoing
Directors for their support, especially John Spencer
and Koro Wetere. While setting high performance
standards, the Board has then given my team the
freedom to act to achieve the targets we’ve been set.
This has created a team culture where people not only
take responsibility, but are encouraged to add their
own ideas and look for opportunities. Good results
inevitably follow.
So with Ruakura, our efforts in 2012 focused on
preparing for and working with local and regional
regulatory authorities to make sure we met all of their
requirements, and that Ruakura makes a signifcant
contribution to the Waikato economy
This has involved extensive investigations, looking
at all economic, environmental, social, cultural and
regional perspectives. In anticipation of this work, we
appointed a project manager for Ruakura early on in
the fnancial year.
The company also invested a large amount of time
in presenting and explaining the concept to a wide
variety of stakeholders in the region.
In late 2012 we worked with Hamilton City Council to
undertake a frst, preliminary round of consultation
with nearby residents. As a result, changes were made
to the interchange solution at the southern end, more
detail has been added around staging road network
changes as the inland port and new expressway
develop, and better methods of dealing with noise and
amenity issues were identifed.
The draft District Plan was due to be released publicly
in April 2012, and a second round of consultation,
with open days, was planned for May. Following
submissions, Hamilton City Council are scheduled
to consider the draft plan in September, with formal
notifcation in November. A draft new Regional Policy
Statement is also due out in 2012, with a target of
adoption around September.
It is our understanding that the NZTA Board will
determine whether to give approval for the ‘macro-
scope’ of the new expressway in mid 2012. This would
then allow NZTA to amend the designations, start to
acquire land and move to a more detailed design, with
the intention of a full funding application being made
for the Expressway around 2014/15.
Ruakura, Hamilton