Holdco, sometimes referred to as the “commercial arm” or “wealth creation” arm, was established to generate sustainable profits for the benefit of Ngati Porou now and in the future.  It holds and has responsibility for all of the commercial assets of the Group including the fishing and farming companies, property, direct investments and other investments in cash, bonds and equities.

NPHCL is a subsidiary of TRONPnui, established for oversight and management of TRONPnui’s financial and operational assets. TRONPnui’s operating assets (“Operating Assets”), including fisheries, forestry, residential and commercial property and pastoral farmland, hold cultural and historical significance and are expected to be held for the long‐term.

Operating Assets represent $63.4 million (as at 31 December 2012) and include:

• NP Seafoods Group (fisheries and seafoods business) – $42.8m

• Crown Forestry Rental Land (forestry) – $10.5m

• Pakihiroa Farms (pastoral farmland) – $9.1m

• Property (residential and community property) – $1m

TRONPnui’s financial assets (“Financial Assets”) include long‐term investment assets representing intergenerational equity which attempts to achieve a balance between meeting the current needs of Ngati Porou while preserving and growing the capital base to meet the needs of future Ngati Porou generations.-            Project and business development.

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