Treaty Of Waitangi Fisheries Commission (Te Ohu Kai Moana) Ninth Annual Report Main Points.

„ After-ta surplus of $37.1 million, up from $11.2 million for the previous year.

„ Operating surplus before ta of $45.4 million, up from $18.9 million last year.

„ Net assets for the year ecluding minority interests, as per the Statement of Financial Position, totalled $450.6 million. This is up from $413.6 million for the previous financial year.

„ Global trading conditions were mied. Eperienced strong growth in the first half of the financial year but trading conditions were more difficult in the latter half. The value of the New Zealand dollar was helpful.

„ Charitable Trust distributions for scholarships and other forms of assistance totalled $1 million.

„ Total distributions now around $7.2 million since the Trust’s inception in 1994.

„ Implemented the Global Fisheries Programme, worth $250,000 and awarded to two Maori each year providing global eperience in the seafood industry.

„ He Ture Pumau, a post-graduate law scholarship in conjunction with Nelson-based law firm, Fletcher Vautier Moore.

„ Commissioners’ fees for the year under review were down to $883,000 from $943,000 the previous year.

„ Te Ohu Kai Moana continues to improve its position, currently holding 33 percent of New Zealand’s aggregate Total Allowable Commercial Catch.

„ Te Ohu Kai Moana a major player in New Zealand’s epanding seafood industry.

„ Te Ohu Moana still holds significant cash ($2.7 million) as a result of continuing disputes between iwi relating to the lease round.

„ Te Ohu Kai Moana urging all iwi to resolve differences so that money can be distributed for the benefit of all Maori.

Ends

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