Latest State Owned Enterprises Headlines

UPDATE: Kiwibank comes of age, pays first annual dividend

Fri, 28 Aug 2015 12:25:00 +1200 | BusinessDesk

Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities.More >>

UPDATE: NZ Post flags competition, economic and GST headwind

Fri, 28 Aug 2015 11:15:56 +1200 | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand Post Group says it faces "structural and permanent decline" and further headwinds from increased competition, a fragile global and domestic economy and higher costs on the back of proposed introduction ...More >>

NZ Post boosts profit 34% on asset sales, Kiwibank

Fri, 28 Aug 2015 09:40:29 +1200 | BusinessDesk

Aug. 28 (BusinessDesk) - New Zealand Post Group lifted annual profit 34 percent, booking a one-off gain from the sale of its Australian business, Couriers Please, while at home its Kiwibank unit boosted earnings. More >>

Kiwibank comes of age, set to pay first annual dividend

Fri, 28 Aug 2015 09:30:28 +1200 | BusinessDesk

Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities.More >>

Truck shops come under Comcom scrutiny

Thu, 27 Aug 2015 12:48:01 +1200 | BusinessDesk

Truck shops target poor with sharp prices, lower-quality goods, non-compliant contracts, regulator says More >>

Landcorp strategy of dairy investment at odds over dividends

Thu, 27 Aug 2015 12:27:27 +1200 | BusinessDesk

Aug. 27 (BusinessDesk) - Landcorp Farming, which is taking on debt to convert former forestry land into dairy farms, won't pay a dividend this year, highlighting the friction between the state-owned farmer's long-term strategy and the government's ...More >>

TVNZ delivers 55% annual profit increase despite falling ads

Thu, 27 Aug 2015 10:28:21 +1200 | BusinessDesk

Aug. 27 (BusinessDesk) - Government-owned Television New Zealand reported a 55 percent lift in full-year profit, despite declining advertising revenue, after growing its share of the television market and relaunching its online services.More >>

Air NZ fare cuts point to domestic battle with Jetstar

Wed, 26 Aug 2015 16:26:59 +1200 | BusinessDesk

Air NZ's pre-emptive cut to regional domestic fares points to full-on battle, travel agents say More >>

UPDATE: Air NZ's Luxon trumpets record result

Wed, 26 Aug 2015 11:46:33 +1200 | BusinessDesk

UPDATE: Air NZ's Luxon trumpets record result in global airline market where many struggle More >>

Genesis 'comfortable' for now with Huntly closure decision

Tue, 25 Aug 2015 11:28:40 +1200 | BusinessDesk

Aug. 25 (BusinessDesk) - Genesis Energy still plans to close the remaining 500 Megawatts of ageing gas and coal-fired electricity generation capacity at its Huntly power station in 2018, in spite of last week's surprise decision by Contact Energy to close ...More >>

Genesis Energy in hunt for new CEO

Tue, 25 Aug 2015 09:55:58 +1200 | BusinessDesk

Aug. 25 (BusinessDesk) - Energy industry veteran Albert Brantley is to retire as chief executive of Genesis Energy at the end of the 2016 financial year, the electricity company's chair, Jenny Shipley announced.More >>

Genesis Energy ups dividends as free cash flow increases

Tue, 25 Aug 2015 09:06:45 +1200 | BusinessDesk

Aug. 25 (BusinessDesk) - Genesis Energy became the latest electricity company to increase its distributions to shareholders as it reported a 113 percent increase in net profit of $104.8 million on marginally increased revenues of $2.1 billion ...More >>

Genesis Energy confirms end to Solid Energy coal contract

Thu, 20 Aug 2015 09:49:56 +1200 | BusinessDesk

Aug. 20 (BusinessDesk) - Genesis Energy confirmed it will terminate its coal supply contract with state-owned coal miner Solid Energy, which was placed into voluntary administration last week ahead of an attempt to sell its assets over the next 2 1/2 ...More >>

Avoid another Solid Energy – sell Landcorp farms now

Wed, 19 Aug 2015 13:39:41 +1200 | ACT New Zealand

Landcorp’s dismal performance shows that the government should wind down the company’s asset base, says ACT Leader David Seymour. More >>

Key Breaks Promise, Putting Asset Sales Cash into Asia

Tue, 18 Aug 2015 16:40:37 +1200 | New Zealand First Party

Prime Minister John Key promised in the 2011 election campaign the money from state assets sales would be for New Zealand hospitals, schools and roading – he has broken that promise and instead will spend a large amount in Asia, says New Zealand First.More >>

New foreign owners register for farm land

Tue, 18 Aug 2015 16:12:33 +1200 | New Zealand Labour Party

A publically-accessible register of foreign owners and tougher requirements for them to live up to their investment promises are needed to bolster the powers of the Overseas Investment Office, Labour’s Land Information Spokesperson Stuart Nash says.More >>

Landcorp farms must stay in NZ hands

Tue, 18 Aug 2015 16:06:38 +1200 | Green Party

The Government must rule out mass sales of Landcorp’s 137 farms to overseas interests, following suggestions that the state-owned farmer is under pressure from the falling dairy price, the Green Party said. “The Government needs to rule out sales of Landcorp’s ...More >>

Landcorp sales will go to foreign investors

Tue, 18 Aug 2015 11:56:29 +1200 | New Zealand Labour Party

The Government cannot let mismanagement of another State Owned Asset see large sales of productive farmland end up in foreign investors’ hands, Opposition leader Andrew Little says. “Just a week after Solid Energy went into voluntary administration ...More >>

Landcorp board in talks with ministers over debt levels PM

Mon, 17 Aug 2015 17:56:54 +1200 | BusinessDesk

Aug. 17 (BusinessDesk) - The board of state-owned farming operator Landcorp Farming is in active discussions with ministers over its levels of debt, but isn't in as big a hole as failed coal-miner Solid Energy, according to Prime Minister John Key.More >>

Government accused of sabotaging a second SOE

Sun, 16 Aug 2015 20:17:30 +1200 | Postal Workers Union of Aotearoa

The Government is being accused of sabotaging another state owned enterprise following the collapse of Solid Energy. More >>

 

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