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Opportunities in the New Zealand Seafood Industry. Slides taken from presentations made by Rob McLeod Chairman, Aotearoa Fisheries Ltd and by Robin Hapi Chief Executive Officer, Aotearoa Fisheries Ltd. Our Assets and Operations. 100% owned Moana Pacific Fisheries Pacific Marine Farms

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Opportunities in the new zealand seafood industry

Opportunities in theNew Zealand Seafood Industry

Slides taken from presentations made by Rob McLeodChairman, Aotearoa Fisheries Ltdandby Robin HapiChief Executive Officer, Aotearoa Fisheries Ltd


Our assets and operations

Our Assets and Operations

  • 100% owned

    • Moana Pacific Fisheries

    • Pacific Marine Farms

  • Joint ventures

    • Sealord Group : equally owned with Nippon Suisan

    • Prepared Foods Group : in partnership with Ocean Ranch


Our people

Our People

Board of Directors

Executive Management

Team


Our directors

Our Directors


Our shareholders

Our Shareholders

  • Beneficial owners are Iwi

  • Two types of shares –

    • Control shares that are owned by Te Ohu Kaimoana Trustee Ltd

    • Income shares that are owned 80% by Iwi with the remaining 20% of income shares being held by Te Ohu Kaimoana


Our group composition

Our Group Composition


Our management structure

Our Management Structure

Chief Executive OfficerRobin Hapi

Based at AFL

Head Office

GM Strategy & PlanningTom McClurg

Chief Financial OfficerDanny McComb

Manager, CRA

Dave Shields

Acting Marketing

Manager

Tom McClurg

Divisional Manager

Abalone

Jim Pendleton

Divisional Manager

AquacultureDean Moana

Manager, Eels

John Jameson

Operations Manager

Richard Wells


Mission statement

Mission Statement

Our vision is that AFL is a strong seafood business delivering growth in shareholder wealth to Iwi


Our quota portfolio

Our Quota Portfolio


Our assets

Our Assets

Total Assets

10 months ended 30 Sept 2005$000

Total Assets

371,328

Total Liabilities

50,839

Total equity at end of period

320,489


Issues facing aotearoa fisheries limited

Issues facing Aotearoa Fisheries Limited

  • Ongoing commercial success and profitability are the key requirements of durability

  • Re-empower Maori in the management of customary and commercial fisheries

  • Common interest to protect property rights

  • AFL’s support for Iwi organisations


Issues facing the industry

Issues facing the Industry

  • Value of the dollar

  • Dilution of property rights

  • MFish costs and performance

  • Environmental Lobby

  • Distance from Markets

  • New species into the QMS

  • Fisheries management by owners

  • Overcapitalisation of quota

  • Seafood prices

  • Size of the industry

  • National and world economies


Value of the dollar

Value of the Dollar

  • Only enduring solution is to focus on long-run efficiency, by minimising costs and maximising revenues


Erosion of property rights

Erosion of Property Rights

  • Continued presence of illegal catch

  • Dilution of the term utilisation

  • Reallocation of increases in stock abundance

  • Quality of aquaculture property rights


Ministry of fisheries

Ministry of Fisheries

  • Cost of administering the fisheries sector

  • Improved performance, accountability and transparency

  • Performance of the compliance division to be improved


Environmental lobby

Environmental Lobby

  • Concept of “sustainable utilisation”

    • Unbalanced emphasis placed on preservation within the environmental lobby


Distance from markets

Distance from Markets

  • Best information, communication and technology to overcome distance from international markets

  • Difference in the world market must be maintained and defended


New species into the qms

New Species into the QMS

  • AFL agrees with the principle that fisheries should be either open or in the QMS


Fisheries management by the owners

Fisheries Management by the Owners

Purpose of the Act –

“provide for the utilisation of fisheries resources while ensuring sustainability”.

Utilisation means –

“conserving, using, enhancing and developing fisheries to enable people to provide for their social, economic and cultural well-being”.


Over capitalisation of quota

Over-capitalisation of Quota

  • Maximising the value of ITQ can be difficult to explain or sustain

  • AFL has adopted an EVA performance framework – all investment is charged a weighted average cost of capital


Seafood prices

Seafood Prices

  • Success for some operators and species to grow the domestic market

  • Tough year for rock lobster

  • Volatile worldwide markets

  • Expect great opportunities for seafood sector with China


Size of the industry

Size of the Industry

  • Is it sensible for New Zealand to run their own half full trucks?

  • Can co-operation unlock economies of scale?


World economies

World Economies

  • Knowledge on developments in the world economies and trade relationships between countries

  • Acknowledge the work of Alastair Macfarlane and the group within NZ Trade & Enterprise


Moving forward afl s approach

Moving forward : AFL’s approach

  • Divisionalisation of wholly-owned companies

  • Establishment of head office in Wellington

  • Adoption of EVA framework to plan and measure the performance of divisions and people


What can we do smarter

What can we do smarter?

  • Unified approach to protect the QMS

  • Multiple uses should be matched with multiple responsibilities

  • Rationalisation within the industry

  • Improve the approach to managing our assets


Opportunities in the new zealand seafood industry

Opportunities in theNew Zealand Seafood Industry

Presentation made by Rob McLeodChairman, Aotearoa Fisheries Ltdat the Seafood Industry Council Conferenceon Wednesday 18 May 2005


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