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Article: Tainui losses spark changes
- Article from:
- Waikato Times
- Article date:
- July 21, 2009
- Author:
CopyrightCopyright 2009 Waikato Times. Provided by ProQuest LLC. (Hide copyright information)
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TAINUI BALANCE SHEET
* $64.3 million surplus last year.
* $15 million expected surplus this year.
* Expected $20 million-plus loss in asset value this year.
* $500 million invested in property, fisheries, farms, managed
funds.
* Major investments: The Base, The Novotel in Hamilton, Huntly
Power Station, Waikato University, Centre Place mall, Callum Brae
subdivision.
* $170 million Treaty settlement between tribe and with the
Crown in 1995.
* Still negotiating Waikato River settlement with the Crown.
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Tainui Group Holdings, the commercial arm of the Tainui tribe, is
set to announce a multimillion-dollar loss and a reshuffle of its
management ranks.
While ...