“To invest in, and promote the establishment of, key infrastructure assets in a commercially viable manner to assist the development and recovery of Christchurch as a world class city”
• To identify, in conjunction with relevant parties, present and future regional infrastructural needs.
• To seek, on behalf of the Council, and if material report at the appropriate time on, investment opportunities that have the potential to enhance the economic well-being of the region, and provide an adequate return. In order to balance these objectives, CCHL may in appropriate circumstances accept a lower return or slower route to profitability.
• To build the financial strength of CCHL through appropriately directed commercial investment, in a manner consistent with the approach set out in the acquisition/divestment policy in the Statement of Intent.
• To encourage and facilitate the subsidiary and associated companies to increase shareholder value through growth and investment.
• To ensure that best practice governance procedures are applied to the city's key regional infrastructure and financial investments that are under CCHL's ownership or review.
• To advise the Council on strategic issues relating to its trading investments including, but not limited to, ownership structures, capital structures and rates of return.
• To encourage intra-group cooperation.
• To monitor the performance of each subsidiary and associated company against their stated economic, environmental and social performance objectives and against relevant benchmarks, and ensure that they have proper governance procedures in place.
• To perform financial, custodial and other functions required by the Council which include:
– Grouping together the Council’s ownership of its subsidiary companies;
– Separation of the subsidiary companies from the ordinary operations of the Council;
– Smoothing the cash flows to the Council from its subsidiary companies;
– Enabling diversification of the City’s income streams for the benefit of ratepayers;
– Monitoring of other subsidiary companies owned directly by the Council.
• To promote sustainable business practices.
• Taking other initiatives at the request of the Council.