The indigenous-led business, Tainui Group Holdings in New Zealand is keen to explore investment opportunities in PNG. They expressed their interest to the Minister for International Trade and Investment, Richard Maru who met with their management team in Hamilton, New Zealand on Wednesday.
Minister Maru expressed being impressed with the establishment after hearing of how the company came into existence.
“The Tainui Group Holdings have done very well. Our landowner companies can learn a lot from their success. They can also come and see the investments opportunities in PNG, especially in our Special Economic Zones where they can invest in partnership with our Government or with our landowner companies.” He said.
“We want to partner indigenous businesses and promote the concept of indigenous businesses.” Minister Maru further stated.
In 1995, the Government of New Zealand compensated the tribal development arm of Waikato-Tainiu with $170 million for their land. This was only less than 1 percent of the total value of land that was taken from them. The Waikato-Tainiu leaders decided to take the opportunity to transform, develop and prosper commercial assets to balance the needs of their current and future generations. The Tainui Group Holdings, a wholly owned commercial entity of Waikato-Tainui was established in 2003 with an endowment property valued at $179.7 million. They now manage a portfolio of assets valued at $1.65 billion which includes real estates (hotels, shopping centres, industrial and commercial property, residential subdivisions), farms (including a dairy farm), forests, fishing quota, Ruakura Inland Port, global equities, and private equity. A significant portion of the 6, 250 ha owned by Waikato-Tainui is situated in high value strategic locations, and these landholdings provide a pipeline of development for at least the next 150 years. All profits generated by the Tainui Group Holdings fund education, health, the elderly, cultural, housing, employment and environmental programs implemented by Waikato-Tainui and are reinvested into further growing the business for intergenerational wealth.
