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Tainui CE: 'we have no interest in asset sale shares'

Tainui CE: ‘we have no interest in asset sale shares’

  • Ratings12345

The CE of Tainui Group Holdings has confirmed that Tainui has no interest in buying shares in Mighty River Power.

Mike Pohio made the admission last night when questioned at a public forum to discuss the new Ruakura Inland Port.

‘We’re stoked that Tainui wants to have nothing to do with asset sales,’ says Mighty River People’s Power rep Alvina Edwards.

‘We wanted the Ruakura forum to make the link between Tainui supporting communities, their business integrity and bottom lines. We asked Mr Pohio about the position of Tainui Group Holdings in relation to the privatisation of Mighty River Power.’

‘There is overwhelming community and iwi opposition to the sales,’ says Ms Edwards.

At the meeting the group sought clarification on the position of Mr Pohio’s manager, Tainui CEO Parekawhia McClean.

Mr Pohio said he did not know her position on asset sales but agreed their might be conflicts between Tainui and government.

Mighty River People’s Power recommends that Tainui help build community opposition to asset sales with the following activities:

  • - by supporting proposed action by Ngati Tuwharetoa to challenge the privatisation of Taupo moana and the Waikato River.
  • - support and circulate the petition against asset sales among its marae and people.
  • - the group encourages Parekawhia McClean (and local Maori business woman Tania Simpson) to resign from the board of Mighty River Power as their position is untenable (providing governance to the board while iwi strategise to prevent privatisation, and in light of sky rocketing fees).

Contact Alvina Edwards
Mighty River People’s Power
027 221 6864

(1) Comment

  1. Ngawai Robinson

    Tainui tikanga in practice is about the prosperity of the village at all levels of achievement. It’s about collective restoration; collective sustainability; collective improvement; and collective evolution. On the ground though it hasn’t worked the preoccupation with corporate aspirations led to the people at the flax-roots level getting hung out to dry. The TGH annual dividend should be invested wisely to propel us out of the bad end of the economic poverty trap - but that’s not happening. On the ground you can’t miss the reality between whanau struggling in pockets of extreme poverty with unemployed Tainui rangatahi; long term able-bodied unemployed; low education levels; lack of resources/support; and pockets of inter-general deprivation. Contrast with Tainui whanau propelled forward on the tribes’ wealth to the detriment of our tribal collective. Te Kauhanganui members and business leaders must put the well-being of all our people at the front of the queue; and stand up for our people. Our representatives have to make greater investments to turn around the [dysfunctional] business models responsible for our disputes. What needs to change is Tainui’s current business [formula]. Enshrining the principles of partnership; participation and protection driven by our tikanga within the corporate framework is a win/win model for everyone. I’m willing to roll up my sleeves to do something about it. Once [decisions] are agreed and written into constitutional practice I think it can make a huge difference moving forward.

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