Photography by Glenn Jeffrey
HALF-YEARLY HUI A HIT IN TE HĀWERA
A strong future focus on resilience and diversity were the key messages delivered at the Parininihi ki Waitotara (PKW) half-yearly update hui in Te Hāwera in April.
investigating opportunities which would generate more returns into the future, potentially looking at everything from honey production to residential care for kaumātua.
Chairperson Hinerangi Raumati-Tu’ua outlined the Incorporation’s priorities to an interested and appreciative audience of around 60 shareholders at Taiporohēnui Marae.
“It’s about having a long-term vision and providing ongoing benefits as we go.”
These include continuing the improvement of the whenua, ensuring there are regular benefits and dividends for shareholders, facilitating the employment of PKW, encouraging intergenerational leadership, working with marae and Māori communities and supporting the education of people—both academically and culturally. But the primary focus for the Board is further diversification of business interests. The organisation is
“That’s quite a bold thing to do, but it’s a goal that we have to have for the long-term sustainability of PKW,” says Hinerangi.
Hinerangi acknowledges the hard work and perseverance of previous and present generations has built PKW to its present position and reinforces the importance of collaboration with other organisations, especially within the wider Taranaki Māori community. “We see real benefit in being part of that collective. Most of us don’t get far on our own; it’s the collective action that moves us all forward,” she says. Being innovative and having environmentally sustainable business
practices like utilising solar energy is also an important ongoing focus, especially as the Incorporation is the biggest farming operation in Taranaki. For Chief Executive Officer Warwick Tauwhare-George, the future of the business is a challenging but exciting prospect, especially when it comes to the way land is used. “Could we re-purpose current assets for different uses; what other uses can the whenua be put to?” he asks. “We are asset rich but cash poor, we need to release some of that equity for our shareholders.” Joe Hanita, General Manager Finance and Iinvestments, warned a projected $9.2 million end of financial year profit does not automatically mean larger dividends for shareholders, because the profit comes mainly from increased asset value, not cash income. “The wealth of your assets is growing, and so shareholder value will grow,” he says. >> HE TANGATA | 5
