✨ Financial Statements
NEW ZEALAND GAZETTE, No. 140
23 NOVEMBER 2012
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
12. Other financial assets
| LINES BUSINESS | 2012 |
|---|---|
| $M | |
| Non current | |
| Property loan assets | 3.9 |
| Fonterra shares | 3.8 |
| Total non current financial assets | 7.7 |
Property loan assets
The Transpower Lines Business has a property portfolio as a result of the North Island Grid Upgrade (NIGU) project. Properties were purchased between Whakamaru and South Auckland for the purposes of establishing easements and then on-selling. As part of the selling programme, The Transpower Lines Business has two vendor finance loan assets. These loan assets are carried at amortised cost. No impairment is expected.
Fonterra shares
As a result of the NIGU property portfolio, the Transpower Lines Business holds Fonterra shares. When dairy farms are purchased, Fonterra shares are often purchased to enable the continued operation of the dairy farm. These shares are classified as available for sale because they do not fall into the other three categories of financial instruments, i.e. they have no "maturity" date, they are not traded on an active market, there are no fixed payments associated with holding the shares and they are not held for short term profit making.
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NZ Gazette 2012, No 140
✨ LLM interpretation of page content
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Transpower New Zealand Limited Financial Statements
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🏭 Trade, Customs & IndustryFinancial statements, Inventories, Transpower, Substations, Transmission lines, Communications, Property loan assets, Fonterra shares