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New Zealand Gazette – 1993 – No. 94

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✨ Financial Statements and Notes

1768

NEW ZEALAND GAZETTE

No. 94

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

14 RELATED PARTY TRANSACTIONS

Outstanding intercompany balances as at 31 March 1993 are:

Intercompany receivable and current account $77.7 million
Intercompany payable $13.2 million
Intercompany term liabilities $299.4 million

With the exception of the current account and the term liability to parent company, the balances are payable on normal trading terms. The current account is on call and the term liability to parent company has no fixed date for repayment. No related party debts have been written off or forgiven during the year.

15 FELLOW SUBSIDIARY COMPANIES

At 31 March 1993 the principal fellow subsidiaries were as follows:

Telecom Auckland Limited
Telecom Wellington Limited
Telecom South Limited
Telecom Networks and Operations Limited
Telecom New Zealand International Limited
Telecom Directories Limited
Telecom Equipment Supplies Limited
Telecom Cellular Limited
Telecom Mobile Radio Limited
Telecom Repair Services Limited
Telecom Paging Limited
New Zealand Telecommunications Systems Support Centre Limited

Telecom Corporation of New Zealand (Overseas Finance) Limited
TCNZ (UK) Investments Limited
TCNZ (United Kingdom) Securities Limited
TCNZ Finance Limited
TCNZ Financial Services Limited
Telecom Wellington Investments Limited
Telecom Operations Limited
TCNZ Equities Limited
Teleco Insurance, Inc
Telecom Purchasing Limited
Jetstream Technology Limited
Netway Communications Limited

16 SEGMENTAL REPORTING

The Company's principal business activity is the provision of telecommunication services, constituting more than 90% of total operating revenues, operating earnings and identifiable assets.

The Company's business is conducted predominantly in New Zealand and is therefore within one geographical area for reporting purposes.

17 SUBSEQUENT EVENTS

As part of the strategic restructuring of Telecom, Telecom New Zealand Limited (formerly Telecom Wellington) acquired the business and assets of Telecom Central Limited, at net book value, with effect from 1 April 1993.

Telecom New Zealand Limited now provides telecommunications services in the area previously serviced by Telecom Central Limited.

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VUW Te Waharoa — NZ Gazette 1993, No 94

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✨ LLM interpretation of page content

🏭 Financial Statements under Telecommunications (Disclosure) Regulations 1990 (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsTelecommunications, Financial Statements, Related Party Transactions, Subsidiaries, Segmental Reporting, Subsequent Events

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