MMH - Marsden Maritime Holdings

[sb9]

Can we crack the $7 handle this week....

[Balance]

https://www.nzherald.co.nz/business/...ectid=12285646

Read this on hard copy while having coffee this morning.

Excellent article with Wayne Brown coming out with all guns blazing at those who have been sniping at him and questioning his impartiality and integrity in chairing the Working Group which has recommended POA be shifted to Northport:

1. He lives in Mongonui which is further from Northport than Auckland, plus he has an apartment in Ponsonby. In fact, all of the working group live in Auckland except him - and he lives in Auckland part time. So much for being Northland biased.

2. Clamour from car importers is from the old established players with investments in South Auckland who do not want to shift - while the young ones in the industry are busy buying land around Ruakaka.

Plenty more in the interview where he (imo) convincingly articulates why POA must be shifted to Northport - it's gonna happen, folks!

[sb9]

https://www.nzherald.co.nz/business/...ectid=12285646

Read this on hard copy while having coffee this morning.

Excellent article with Wayne Brown coming out with all guns blazing at those who have been sniping at him and questioning his impartiality and integrity in chairing the Working Group which has recommended POA be shifted to Northport:

1. He lives in Mongonui which is further from Northport than Auckland, plus he has an apartment in Ponsonby. In fact, all of the working group live in Auckland except him - and he lives in Auckland part time. So much for being Northland biased.

2. Clamour from car importers is from the old established players with investments in South Auckland who do not want to shift - while the young ones in the industry are busy buying land around Ruakaka.

Plenty more in the interview where he (imo) convincingly articulates why POA must be shifted to Northport - it's gonna happen, folks!

Yes, did read that article in print edition at lunch time. Very interesting read indeed...

[Balance]

Yes, did read that article in print edition at lunch time. Very interesting read indeed...

So far, the media has simply been reporting from one point of view - those opposed to the shift for clearly vested interests - trucking firms, car importers, service providers to POA and board members.

It is refreshing to see a successful self-made businessman take on the vested interests with clearly articulated answers.

One of the most important points that Wayne makes (which I have also made on my previous postings) is this - how can a dividend of $8.5m be justified for using $6 billion* worth of prime waterfront land, and inflicting all the truck-derived congestion on Auckland already jammed?

*POA and ARC have always said that the land is worth between $1.5b to $2.0b. What they never state is - that's the leasehold valuation based upon perpetual ownership by POA.

[RTM]

*POA and ARC have always said that the land is worth between $1.5b to $2.0b. What they never state is - that's the leasehold valuation based upon perpetual ownership by POA.

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. This represents an approximate return of between 0.8% and 2.5% to shareholders. Considering the dividend of around $50 million paid to Auckland Council each year9, although more work is required to confirm this, this calculation does suggest a potentially hidden subsidy. This excludes the massive social, cultural, environmental and economic value that would be created by transforming this property into a globally iconic waterfront. "

I think the dividend is lower at the moment than in the past and in the future....because of capex requirements,
Never the less....the figures are above based on $50mil and land value of $2- 6 bn. Doesn't stack up !

[whatsup]

https://www.nzherald.co.nz/business/...ectid=12285646

Read this on hard copy while having coffee this morning.

Excellent article with Wayne Brown coming out with all guns blazing at those who have been sniping at him and questioning his impartiality and integrity in chairing the Working Group which has recommended POA be shifted to Northport:

1. He lives in Mongonui which is further from Northport than Auckland, plus he has an apartment in Ponsonby. In fact, all of the working group live in Auckland except him - and he lives in Auckland part time. So much for being Northland biased.

2. Clamour from car importers is from the old established players with investments in South Auckland who do not want to shift - while the young ones in the industry are busy buying land around Ruakaka.

Plenty more in the interview where he (imo) convincingly articulates why POA must be shifted to Northport - it's gonna happen, folks!

W B , should have known better than to print this political B S and just whow employed him , N Z ! maggots !!!!

[Balance]

W B , should have known better than to print this political B S and just whow employed him , N Z ! maggots !!!!

Watch the language, Whatsup.

[whatsup]

https://www.nzherald.co.nz/business/...ectid=12285646

Read this on hard copy while having coffee this morning.

Excellent article with Wayne Brown coming out with all guns blazing at those who have been sniping at him and questioning his impartiality and integrity in chairing the Working Group which has recommended POA be shifted to Northport:

1. He lives in Mongonui which is further from Northport than Auckland, plus he has an apartment in Ponsonby. In fact, all of the working group live in Auckland except him - and he lives in Auckland part time. So much for being Northland biased.

2. Clamour from car importers is from the old established players with investments in South Auckland who do not want to shift - while the young ones in the industry are busy buying land around Ruakaka.

Plenty more in the interview where he (imo) convincingly articulates why POA must be shifted to Northport - it's gonna happen, folks!

Bal and here was poor old me thinking that you were worldly and had a few brains until I now realise that you have been sucked in by NZF B S and their opening 2020 political campaign B S , WILL NOT HAPPEN as its unaffordable !!

[Balance]

Bal and here was poor old me thinking that you were worldly and had a few brains until I now realise that you have been sucked in by NZF B S and their opening 2020 political campaign B S , WILL NOT HAPPEN as its unaffordable !!

$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!

[Scrunch]

Bal and here was poor old me thinking that you were worldly and had a few brains until I now realise that you have been sucked in by NZF B S and their opening 2020 political campaign B S , WILL NOT HAPPEN as its unaffordable !!

You are partly correct - yes this is NZF policy, and something they will campaign on in 2020 (why wouldn't you!!).

I beg to differ arond whether its affordable - if there is the political will to do so, it is affordable. The government will have income of approximately $1 trillion over the next 10 years (2016/17 was $81.8b). If its made a priority, 1-2% of this revenue would fully fund this project. The government also has enough borrowing capacity that it could borrow the money and fund the project that way. It therefore can happen as it is affordable - if there is the political will to find the money.

The real unknowns are whether Taxinda sees more votes from supporting or rejecting this proposal, and whether NZ first stay in a coalition government long enough to get the project done. There's also the possiblity that one of the two major parties adopt it is part of their mandate. As they tend not to agree on policy, aligning with NZ first may give them first mover advantage with NZ first in forming the next government.