Equity Analyst Valuation Reports on Genesis Energy, Meridian Energy and Mighty River Power Information Release
Page updated 14 Jan 2010
Under the State Owned Enterpises Act 1986, one of the principal objectives for a State Owned Enterprise (SOE) is to operate as a successful business. As part of the reporting of that success, the boards of SOEs are required to assess their estimate of the commercial value of the Crown’s investment and disclose their estimates annually in their Statements of Corporate Intent.
To encourage further discussion on this important performance measure, the Crown Ownership Monitoring Unit (COMU) commissioned an investment bank to provide equity-analyst style valuation reports in a similar format to those produced for companies listed on the New Zealand Stock Exchange.
These research reports and valuations were based on publicly available information at that time and each is designed to identify and examine the main drivers of company performance and, ultimately, value.
The reports were listed on COMU’s website and have proved useful in guiding officials discussions with the SOEs; various references have also been made to them in the public arena.
COMU will continue to use these reports as a basis for further discussion on the SOEs’ reporting of commercial value.
The reports are available for download from the COMU website's Key Documents page.
