State Owned Enterprises Minister Simon Power has announced a new set of financial performance measures for State Owned Enterprises, which own NZ$25 billion of assets.
"These companies represent a $25 billion investment on behalf of the taxpayer, and shareholding ministers have a duty to ensure that this investment delivers an appropriate return," Power said.
Ministers had asked officials to develop financial performance measures for each SOE, he said.
"Following consultation with the SOEs, 11 measures have been agreed, and I expect these to be included in each company’s Statement of Corporate Intent from 2010/11. This is another step towards providing taxpayers with the tools to assess how their investment in this portfolio is performing. The financial performance measures cover shareholder returns, profitability and efficiency, and leverage and solvency."
The full list of measures is attached here.
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