The regional council has formed a capital structure advisory panel to review all of its commercial investments.
A council spokesperson says the committee will analyse the current and future state of council’s commercial investments and activities, within both Council and its investment company, HBRIC.
“The findings will feed into the Long Term Plan, which is due for review next year,” they say.
“The aim of the review is to consider all of the risks and opportunities associated with the Council’s investments and activities, look at possible further investment opportunities, as well as balancing financial return with environmental gain.
“The review will also examine the arguments for and against the Council’s investment company HBRIC Ltd retaining ownership of Napier Port or moving to direct ownership by the Council.”
The spokesperson says panel members are: council chair Rex Graham, council corporate & strategic chair Neil Kirton, HBRIC chair Sam Robinson [Chris Tremain will take over this role after June 30], HBRIC director Jim Scotland, Napier Port chair Alasdair MacLeod and public financial management consultant David Shand.
“The review will be completed by August, with the view to provide inputs to the Long Term Plan process,” the spokesperson says.