-
18-11-2019, 08:51 PM
#201
Originally Posted by Balance
$1 billion a year is unaffordable?
Oh dear!
And we have a government rolling in surpluses, struggling to spend the $3 billion provincial fund and no less than the RB urging the government to increase infrastructure spending by using cheap low interest rates long term borrowings if necessary.
Oh dear!
If I read this right the N Z govt DOES NOT OWN or has any share holding in MMH it is owned partly by POT and others who will have to front up the $10,000,000,000 - $20,000,000,000 in order to build a major port at Marsden Point, now how many MMH shareholders will raise their hands for this one ?
-
18-11-2019, 09:02 PM
#202
Originally Posted by whatsup
If I read this right the N Z govt DOES NOT OWN or has any share holding in MMH it is owned partly by POT and others who will have to front up the $10,000,000,000 - $20,000,000,000 in order to build a major port at Marsden Point, now how many MMH shareholders will raise their hands for this one ?
You need to read the report and the recommendations properly, and you will then understand why MMH sp is going to go to $10 before the Nov 2020 election.
Forward and upwards!
-
18-11-2019, 09:06 PM
#203
Originally Posted by Balance
You need to read the report and the recommendations properly, and you will then understand why MMH sp is going to go to $10 before the Nov 2020 election.
Forward and upwards!
I have and where does it say that the N Z Govt ( read N Z tax payers )will pay $10,000,000,000-$20,000,000,000 then give that amount of infrastructure to a private company ie MMH ? f
-
18-11-2019, 09:30 PM
#204
Originally Posted by whatsup
I have and where does it say that the N Z Govt ( read N Z tax payers )will pay $10,000,000,000-$20,000,000,000 then give that amount of infrastructure to a private company ie MMH ? f
I think that's a really strange way to consider it. The Government built the Kaimai tunnel...right ? They didn't give the money to Tauranga and ask them to build it. Interesting perspective tho….
-
18-11-2019, 10:36 PM
#205
Originally Posted by RTM
I think that's a really strange way to consider it. The Government built the Kaimai tunnel...right ? They didn't give the money to Tauranga and ask them to build it. Interesting perspective tho….
Precisely.
The Reports made it clear that the shift cannot happen unless the government upgrades and extends the rail network and the other infrastructure requirements.
-
18-11-2019, 10:39 PM
#206
Originally Posted by RTM
From one of the interim reports....
"Ports of Auckland reported land value of $533/sqm is lower than that of comparable industrial land in the Auckland Central Business District. In recent times, neighbouring land sales have been between $2500/sqm and $7500/sqm giving total land values between $2bn and $6bn, based on best alternative use.
And for those who are interested, the current MMH book value for its land around the port is... $10 to $20.5/sqm. The annual report states this as $100,000 to $205,000 per ha, but there are of course 10,000 sqm's per ha. The huge area of land MMH owns in the Northland area is how they have a $20.2m BV of land in their accounts despite the low value per sqm. If this land was thought of as quarter acre sections each one would only be valued at $10k to $20k!!
The website link below notes they have 1,850,000sqm of land (185ha). If this started to have a land value of even say $100/sqm, the BV of the land increases to $185m which would increase the BV of equity by $4/share. If this land was to shift upwards to the valuation used for ports of Auckland, it would be valued at just under $1b and alone carry a BV/share of $24. A recent article noted $1,100/sqm prime industrial land values around the Mount near port of Tauranga. That price point would put the land at about $50/share.
That's what a lot of the Business case is about - start using cheap Northland land rather than extremely expensive Auckland CBD land for a port.
https://marsdenmaritime.co.nz/land-for-lease/
-
18-11-2019, 11:12 PM
#207
Originally Posted by Scrunch
That's what a lot of the Business case is about - start using cheap Northland land rather than extremely expensive Auckland CBD land for a port.
Indeed, Scrunch!
The lack of vision of the board and management of POA to use Hectares of the most prime of CBD waterfront land as car parks - akin to using the living room of a mansion as a garage and store-room.
The arrogance and incompetence of POA - good that their comeuppance is not far away.
Last edited by Balance; 19-11-2019 at 08:33 AM.
-
19-11-2019, 08:37 AM
#208
Originally Posted by Scrunch
That's what a lot of the Business case is about - start using cheap Northland land rather than extremely expensive Auckland CBD land for a port.
With many other notable benefits including reducing port based Auckland CBD truck traffic, giving the Northland region an economic boost and creating the infrastructure that may help unlock the economic potential Northland has. Any improved transport network won't just carry port based freight.
-
19-11-2019, 08:54 AM
#209
The POA move from Auckland just will not happen no matter who wants it, its economics just do not stack up, Bal et al please give up on this NZF pipe dream !
-
19-11-2019, 08:57 AM
#210
Last edited by Balance; 19-11-2019 at 09:50 AM.
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks