AGM: Iwi in good position despite challenging headwinds
The 2023 Annual General Meeting was held at Meremere Marae in November. Around 60 uri and iwi members gathered to hear the updates regarding Ngāti Ruanui and it’s subsidaries - Ngāti Ruanui Holdings, Ngāti Ruanui Fishing Limited and Ta’ua Limited.
The yearly updates are an opportunity for uri to hear from directors and board members in regards to how the iwi is performing in terms of serving our uri with outcomes, but also financially for the fiancial year ending 31 March 2023.
Te Rūnanga o Ngāti Ruanui
Te Rūnanga acts as the trust and chartiable organisation which represents Ngāti Ruanui. It is governed by the Board of Trustees (Pou Tuara), elected every three years.
Some of the big achievements celebrated this year include:
Continued engagement with stakeholders at a local and national level, such as Councils, Government and iwi within Taranaki
Awarding 159 education scholarships to support uri with their studies at secondary and tertiary levels of education
106 sports grants to help meet costs of their associated sport
Establishment of the Pātea food bank to help those in need
Continuing to provide free healthcare for registered uri in Pātea and Hāwera
Subsidising early childhood education and care
Ngāti Ruanui Holdings Corporation Limited
The Holdings Corporation was established to manage the investment portfolio of Ngāti Ruanui.
As presented at the 2022 AGM, there was a forecast for a loss due to predicted market decline in values of both share markets and properties. This meant that Holdings reported a net $4.3m loss in the financial year ending March 31, 2023.
Director of Ngāti Ruanui Holdings Corporation, Debbie Ngarewa-Packer said global investment markets have been volitile since Covid-19s appearance in early 2020.
“Governments struggled to maintian economic growth while restraining inflation, interest rates and unemployment.
“These issues and geo-political risks have caused investment markets to fluctuate.”
“On the positive side, the Makaka, Turuturu Berry Farms and Stratford Mountain House have been flourishing and playing a significant role in uplifting our community.”
“We remain extremely proud of the progress of the berry farm, the expertise overseeing it’s progress and remarkable growth in a sector our tupuna once led.
Ngāti Ruanui Fishing Limited
Ngāti Ruanui Fishing Limited is a subsidiary of Ngāti Ruanui in the fisheries sector through the Māori Fisheries Act.
The subsidiary reported a net surplus of $230k. Ngāti Ruanui Fishing Limited is projecting a profit of $198k for the financial year ending March 31 2024.
Director Sam Tamarapa said that Rock Lobster is looking promising.
“Covid-19 impacted fishing for the first part of the 2022/23 due to disruptions to the market. However with easing of restrictions, sales to China have begun to increase, and more-so since the Chinese have stopped purchasing lobster from Australia.
Caring for the community: Ngāti Ruanui Healthcare, owned and operated by Tahua plays an impactful role with care in the community
Ngāti Ruanui Tahua Limited
Ngāti Ruanui Tahua Limited is established as the social services arm of Ngāti Ruanui. It focuses on healthcare, early-childhood, W’ānau Ora.
Some highlights for the year:
Financial profit of $335k
New premises established in Eltham
Achieving pay parity across education and health
Renewal of W’ānau Ora contracts totally more than $1m
Regionally recognised bowel screening service
Purchase of an ultrasound machine
