PAMU / Landcorp Farms
Chuck Schooner (Account suspended) made this Official Information request to Damien O'Connor
This request has an unknown status. We're waiting for Chuck Schooner (Account suspended) to read recent responses and update the status.
From: Chuck Schooner (Account suspended)
Dear Damien O'Connor,
Please provide the EBITDA for all of the Crown farms run by PAMU and Landcorp.
Please seperate these out into individual farms.
Yours faithfully,
Chuck
From: Hon Damien O'Connor
Kia ora,
On behalf of Hon Damien O'Connor, thank you for your email. Please accept this reply as an acknowledgement that your correspondence has been received.
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Office of Hon Damien O'Connor
Minister of Agriculture | Minister for Biosecurity | Minister for Land Information | Minister for Rural Communities | Minister for Trade and Export Growth | MP for West Coast-Tasman
Private Bag 18888 | Parliament Buildings | Wellington 6160 | New Zealand
Authorised by Hon Damien O'Connor MP, Parliament Buildings, Wellington 6011
________________________________
From: Hon Damien O'Connor
Kia ora Chuck,
We acknowledge receipt of your official information request dated 13 April 2022.
We received your request on 13 April 2022. We will endeavour to respond to your request as soon as possible and in any event no later than 16 May 2022, being 20 working days after the day your request was received.
If your OIA request requires full or part transfer, we will contact you within the required timeframe.
If we are unable to respond to your request by then, we will notify you of an extension of that timeframe.
Ngâ mihi,
Phoebe
Phoebe Murphy (she / her) | Private Secretary (Executive Support)
Office of Hon Damien O’Connor
Executive Wing 5.1L | Parliament Buildings | Wellington | (04) 817 8848
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From: Phoebe Murphy
Kia ora Chuck,
Thank you for your official information request of 13 April 2022.
This email is to advise that we are transferring your request to Hon Dr David Clark, Minister for State Owned Enterprises under Section 14(b)(ii) of the Official Information Act 1982.
Your request is being transferred because the information you are seeking is not held by our office but is more closely connected with the functions of Minister Clark's office.
You will hear further from Minister Clark's office regarding your request.
Ngâ mihi,
Phoebe
Phoebe Murphy (she / her) | Private Secretary (Executive Support)
Office of Hon Damien O’Connor
Executive Wing 5.1L | Parliament Buildings | Wellington | (04) 817 8848
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From: Greta Easen
Kia ora Chuck,
Thank you for your email of 13th April to Minister O'Connor, in which you submitted an Official Information Act request as follows:
“Please provide the EBITDA for all of the Crown farms run by PAMU and Landcorp.
Please seperate these out into individual farms."
This has been transferred to our office for response as it sit within Minister Clark's State Owned Enterprise portfolio.
Minister Clark is considering your request in accordance with the Act. You can expect a response by 18th May 2022.
Kind regards,
Office of Hon Dr David Clark
Minister of Commerce and Consumer Affairs
Minister for the Digital Economy and Communications
Minister for State Owned Enterprises
Minister of Statistics
Minister Responsible for the Earthquake Commission
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From: Hon Dr David Clark
Kia ora Chuck,
Thank you for your request made under the Official Information Act, received on 14 April 2022.
We believe the information requested is more closely connected to the functions of Landcorp Farming Limited (trading as Pâmu). Accordingly, Hon Dr David Clark has decided under section 14(b)(ii) of the Official Information Act to transfer your request to the Chief Executive of Pâmu.
Pâmu has 20 working days from receipt of this transfer to make a decision on your request.
Office of Hon Dr David Clark
Parliament Buildings
Wellington
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From: Kim Ellwood
Kia ora Chuck,
We have received your Official Information Act request (as below), transferred from the Office of Hon Dr David Clark.
"Please provide the EBITDA for all of the Crown farms run by PAMU and Landcorp. Please separate these out into individual farms."
As per the Official Information Act, we will respond to your request within 20 working days and note that the deadline for responding is 7 June 2022.
Nga mihi
Kim
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From: Alistair McMechan
Kia ora,
I refer to your OIA request and the correspondence below.
Please find attached a copy of Pâmu's latest Annual Report for your information, containing information on the performance of Pâmu's farms. This and prior year reports are available on our website.
Pâmu withholds from disclosure the EBITDA of farms on an individual basis. Withholding is necessary for Pâmu to carry out our commercial activities without prejudice or disadvantage (s9(2)(i)), in particular, by disclosing sensitive information about Pâmu's performance which could affect its relationships with customers and suppliers. Aggregated financial information and performance by division and commodity (e.g. dairy, wool etc) is set out in our Annual Reports.
You have the right to complain to the Ombudsman under section 28 of the Official Information Act about Pâmu's withholding of information.
Nga mihi,
Alistair
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From: Chuck Schooner (Account suspended)
Dear Alistair McMechan,
I know where to find the Annual Reports so this is not what I require. Please provide the EBITDA for the individual farms as requested. To avoid the commercial sensitivities you don't need to name farms, they can be coded in a way so that the individual farms aren't shown / known. Ultimately I want to know how many farms / if any run by the government are running at a surplus. I suspect given the over regulation of the sector and the inefficiencies of government then our farms will be getting propped up by the taxpayer. If the government can't run efficient farms based on their own regulation then PAMU farms either need to be disposed of or PAMU have some discussions with the Minister about the sector killing regulations they continue to force on farmers.
Either way - I require the EBITDA information for the individual farms, so please work out a way to provide this information in a format that doesn't disclose the farms.
Yours sincerely,
Chuck Schooner
From: Alistair McMechan
Kia ora,
Please find attached a list of the EBITDAR of farms owned/leased/managed by Pāmu. Note that this is at the farm level and does not include an allocation of all corporate costs (accounted for centrally). An adjustment is made for that (and other non-farming matters) at the foot of the table.
Regards,
Alistair
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Chris McCashin left an annotation ()
Actually it’s pretty poor. Take into account company tax and then take a deeper look at their annual report and it doesn’t look that pretty. Just some basic takeaways / quotes from their annual report
- operating cash flow 2021 - negative 6m (maybe some big CAPEX)
- net profit 2019, 2020 - negative 11m & negative 24m respectively
- net profit 2021 29m but this was on the back of 24m gain in fair value of biological assets
- 1.3% return on equity on a 1,975m asset portfolio
So only based on last three years net profit is negative 6m and if we don’t take into account 24m gain in fair value it’s actually negative 30m. But hey who reads these reports anyway. Wait until next couple of years when asset valuations drop. Then the losses will be harder to hide. But hey when you have a safety net of the taxpayer then no worries!!
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Adam Irish left an annotation ()
Looks like the facts show that the majority are profitable and are actually contributing towards public finances.
Link to this