Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ Rural Property Trust In Large Valuation Gains

New Zealand Rural Property Trust: Substantial Valuation Gains

The New Zealand Rural Property Trust’s (“the Trust”) assets have been valued as at 30 June 2008 in accordance with the Trust’s standard practice for the preparation of its Annual Financial Statements.

The valuations prepared by independent registered valuers of the Trust’s rural property portfolio show significant increases over last year’s values. The Trust’s six dairy farms, the Canterbury arable properties and other land with potential for dairy support in particular have shown substantial value gains.

Based on preliminary unaudited figures, the revaluation of the Trust’s properties and other assets has resulted in a collective gain over last year’s values of more than $48 million. This will increase the Trust’s net assets to approximately $210 million as at 30 June 2008 from $162 million last year. The net asset value per unit of $3.46 as at 30 June 2007 is expected to increase to approximately $4.50.

The financial statements will now be finalised and will then be subject to audit. It is expected that the Trust’s audited financial results will be announced during the first week of September 2008.

Chairman, Sir Selwyn Cushing, said that given the magnitude of the revaluation gains, Directors determined that it was appropriate to keep Unitholders fully informed of this material financial information.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>

ALSO:

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>

Commerce Commission: Noel Leeming Group Warned For Making Delivery Representations Without Reasonable Grounds During COVID-19 Lockdown

Noel Leeming Group has been warned by the Commerce Commission for making delivery representations about two products which, in the Commission’s view, it did not have reasonable grounds for at the time the representations were made. The warning ... More>>