Chatham Islands Enterprise Trust 1

Strategic Plan 2009

 
Chatham Islands Enterprise 
Trust 

Strategic Plan 
August 2009
Chatham Islands Enterprise Trust 2
Strategic Plan 2009

Contents
Page

Introduction 3

Trust vision 4

Trust values 5

Current organisation structure 6

Stakeholders 7

Strategic position 8

Objectives of the Trust Deed 9

Strategic Plan Summary 11

Strengths, Weaknesses, Opportunities, Threats 12

Trust strategic activity 13

A. Organisational 13
B. Economic development 17

Trading Company Business Plans 19

Chatham Island Airport Ltd 19
Chatham Island Electricity Ltd 20
Chatham Island Ports Limited 21
Chatham Island Forestry Limited 22
Chatham Island Quota Limited 23
Chatham Island Management 24
Chatham Islands Enterprise Trust
Strategic Plan 2009
Introduction 
This strategic plan presents the five year strategic intent of the Chatham
Islands Enterprise Trust (“the Trust”) and its group of trading companies.
The structure of this document is a strategic vision and program summary
followed by a brief strategic program for each trading company. Detailed
company strategic plans and business plans are in the process of being
developed
A standard strategic plan would consider an in depth analysis of the history
of the Trust, a Political, Economic, Social and Technology analysis
(“PEST”). This strategic plan does not attempt to undertake a current
positional analysis but refers readers to various expert reports that have
analysed the Island situation and also the position of the Trust on the
Island:
• Taylor Baines Chatham Islands Economic Review dated October 2002
• Taylor Baines Chatham Islands Economic Review (update) dated
November 2008
The guiding document that governs the Trust is the Trust Deed. The Deed
is the founding constitution and single reference point for the organisation
and the trading companies that defines the organisation and why it exists.
3
The Deed describes the core areas of business interest, the way the Trust
will support the island community and industry sectors. The document also
sets out the governance processes to be followed.
The strategic plan is structured to have little commentary but list intended
strategic actions to be adopted by the Trustees. The planning process to
date has involved the following steps:
1. Attendance by Trustees, Directors and Staff at corporate
governance training
2. Initial drafting of planning document
3. Strategic planning workshop (weekend in March 2009)
4. Companies develop strategic plans based on overall framework
and develop 2010 business plans
Next steps to finalise this strategic plan include:
1. Publication of document for Chatham Island resident comment
2. Community workshop to receive feedback regarding strategic
proposals
3. Community feedback and company strategic plans considered by
Trustees and the 2009 / 2010 plan finalised
4. Business plan finalised for 2009 / 2010 (to be reviewed quarterly at
Trust meetings) and actual performance assessed against business plan
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Strategic Plan 2009

Trust Vision 

To provide the Chatham’s community with

key infrastructure facilities and services,
promote economic and social development, in
a cost effective and sustainable manner in
accordance with the Trust Deed.
Chatham Islands Enterprise Trust 5
Strategic Plan 2009

Trust Values 

Values are the set of guiding principles or set of belief characteristics that the organisation will use when interacting with customers, our stakeholders and
within the organisation. Values tend to be at the heart of an organisations culture that reflects how things are done and the way business is conducted.
The guiding values that underpin the way the Trust undertakes business, treats customers and stakeholders are captured as follows:

• Transparency (Where practical be transparent regarding Trust decisions subject to commercial confidentiality)
• Honesty (Undertake all affairs in an honest and open manner)
• Respect (Respect views of all stakeholders promoting an inclusive environment that values the capabilities and contributions of all)
• Integrity (Undertake all interactions with stakeholders with integrity)
• Loyalty ( Unswerving allegiance to the trust values and philosophy and the Chatham Island community)
• Leadership (A commitment to the success of the Trust for the benefit of the Chatham Islands).
• Extra Mile (to undertake the extra effort and dedication to ensure the success of the Trust and the Island)
• Responsibility (Take responsibility for community issues within the scope of the Trust Deed. We recognise that decisions the Trust make are
investments in a sustainable future)

As part of its accountability and performance assessment, it is the intention of the Trust to measure Trustee, director and staff performance in light of
these values.
Chatham Islands Enterprise Trust 6
Strategic Plan 2009

Current Organisation Structure 

The organisation and company structure features the Enterprise Trust acting as the overall governance body with six independent trading companies
operating the facilities.

The organisation’s structure is complex due to the Trust and trading company arrangement and hinges around a small team of people undertaking a range
of responsibilities and specialist tasks. Complexity arises due to the need to have separate identity for each trading operation to manage risk given that
each asset has different operating parameters. The Trust intends to retain but monitor the effectiveness of the current operating structure.

Chatham Islands Enterprise Trust

5 Trustees

C I Airport C I Ports CI CI C I Quota C I Forest

Ltd Ltd Electricity Management Ltd Ltd
3 Directors 3 Directors Ltd Ltd 3 Directors 2 Directors
3 Directors 5 Directors

Infrastructure Commercial Trading

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Strategic Plan 2009

Stakeholders 

Stakeholders that form the Enterprise Trust landscape in the course of

undertaking business are varied. The stakeholders are both island and
New Zealand based and the analysis below shows the wide range of Specific
Central
stakeholders that have a relationship with the organisation. Project
These relationships range from customer through to regulator and The Government
demand that the Trust as an organisation has a wide scope of skills IWI
Community
across the entire team from the governance through to managing the Expertise
various entities.
Users of Industry
Trust C I Enterprise &
Facilities Trust Service
Groups
NZ Based
Central
Local Local
Business Government
Government Business

Agencies Service
Providers
Chatham Islands Enterprise Trust 8
Strategic Plan 2009

Strategic Position 

The Trust Deed sets out the objectives and roles of the Trust in the community.

This strategic plan is structured to address each of the objectives of the Trust.

The Trust has insufficient financial resources to deal with its current infrastructure obligations. Strategically the Trust will utilise available financial
resources to rebuild and develop its infrastructure assets for the benefit of current and future inhabitants of the island. Strategically the Trust wishes to
establish strong long term relationships with Central Government in order to secure funding and to solve current infrastructure issues.

The Trust will, as a key strategy, retain all quota it holds (granted and purchased over time) and exhaust all other avenues of funding and available financial
resources for use against infrastructure assets. To sell quota will undermine any economic or social future for the Chatham Islands.
Chatham Islands Enterprise Trust 9
Strategic Plan 2009

Objectives of the Trust Deed 

e To promote fishing and the fishing industry in the Chatham Islands

a To promote the economic development and well-being of the in the interests of the community of the present and future
Chatham Islands in the interests of the community of the present inhabitants of the Chatham Islands.
and future inhabitants of the Chatham Islands.
f To promote farming and the farming industry in the Chatham
b To promote the provision of services in the interests of the Islands in the interests of the community of the present and future
community of the present and future inhabitants of the Chatham inhabitants of the Chatham Islands.
Islands.
g To hold, manage and administer investments forming part of the
c To promote the development of industry in the Chatham Islands for Trust Fund for the benefit of the community of the present and
and in the interests of the community of the present and future future inhabitants of the Chatham Islands.
inhabitants of the Chatham Islands.
h Such other charitable purposes for the benefit of the community of
d To encourage and oversee the provision of transport services and the present and future inhabitants of the Chatham Islands as the
facilities to and from the Chatham Islands in the interests of the Trustees consider desirable in the furtherance of the general objects
of the Trust. Comment [s1]: Where and if do
community of the present and future inhabitants of the Chatham we include feedback from workshop
Islands. regarding inclusion of Tourism as a
core objective of the deed. Would
mean a change in Trust Deed –
expensive so perhaps add on the
following page ?
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Strategic Plan 2009

Of particular note in the Trust objectives is the consistent use of the term for the “benefit of the present and future inhabitants of the Chatham Islands”.
This means decisions made must consider not only current residents but also the future residents such that there is no transfer of wealth for the benefit of
current residents at the expense of future islanders.

Items a – h of the Trust Deed are inextricably linked. For the purposes of the strategic plan three categories of assets / Trust objects are identified in
order to provide structure for planning purposes.

1 Economic development

2 Charitable Purposes

3 Infrastructure assets

The challenge for the governors of the Trust is to balance the commercial reality of maintaining high cost infrastructure facilities, against the social
demands that the Deed and the community require from the organisation for economic development.
Chatham Islands Enterprise Trust 11
Strategic Plan 2009

Strategic Plan Summary
The following summarises the strategic direction of the Trust:

Given the declining financial resources held by the Trust and the increasing demands placed on resources by infrastructure assets the Trust wishes to
move its strategic focus from one of long term financial resource protection to addressing current infrastructure issues. The slow decline of the Trust
over time does not meet the Trust Deed adequately in protecting the future inhabitants of the Island. By planning ahead and dealing with issues pro-
actively the Trust strives to meet its obligations under the Deed. The core strategies for the next five years
are:

1 Orientate Trust strategic focus towards securing funding sources in a structured manner from central Government and agencies for infrastructure
development, and other economic and social development initiatives. This will be in conjunction with other Island organisations.
2 Whilst infrastructure assets are controlled by the Trust, the Trust will prioritise the future proofing of infrastructure services for the next 5 years over
other economic and social development initiatives. As identified by Taylor Baines (2008) the solving of current infrastructure issues on the Chatham
Islands will be a significant step towards improving economic and social development.
- Long term sustainable and stable electricity prices through natural renewable resources to reduce reliance on diesel generation and promote
island industry
- Effective and efficient port and airport services that future proof transport access to the island
3 Facilitate effective and cost efficient shipping or own a shipping service on behalf of the island.
Chatham Islands Enterprise Trust 12
Strategic Plan 2009

Strengths, Weaknesses, Opportunities, Threats 

The following is a summary of the analysis by Trustees of the state of the organisation as at April 2009.

Strengths Weaknesses
Loyal staff Deteriorating financial position
Self sufficiency – survival Poor maintenance of assets due lack of funds
No external debt Variable external relationships
Open to change No asset maintenance plans for infrastructure
Funding sources too narrow a spread – need other funding sources
Lack of on island human resource with technical capability to deliver objectives
No framework to balance equitably social demands versus long term economic future of CIET
Geographical isolation
Opportunities Threats
Enhance governance processes of Trust Rapid decline of funding base
Identifying new opportunities for revenue & funding sources Infrastructure assets collapse due to lack of funds
Partnering with other local key entities Departure of staff
Evolving Trustee team Slow to move - reactive to business / infrastructure needs
Improved decision making & implementation of decisions Reliance on key personnel
Environmental awareness Health & safety compliance
Better utilisation of funds
Chatham Islands Enterprise Trust
Strategic Plan 2009
Trust Strategic Activity  operations within Trust
The following are strategic actions to be investigated by the Trust. It is
structured with brief comments followed by a list of action points.
A. Organisational
1 Consider existence of Trust and appropriateness of Trust
structure for the Chatham Islands going forward
Actions
• Work with Government to establish an economic base to fulfil the
Trust’s long term social and economic objectives
• Appoint representatives for the Trust and Chatham Island Council to
consider appropriateness of combining all or part there-of of
infrastructure and commercial operations
- Commission report
• Decide best method to progress recommendations
13
2 Implementation of Return on Investment Criteria for all
Actions
It is recognised that some infrastructure assets may be operated on
breakeven basis (after depreciation and interest) whilst other trading
operations are able to generate a financial return on assets (market value or
cost).
• Implement return on investment criteria for the three areas of Trust
activities
- Implement Return on Investment Criteria framework against
existing commercial investments and agree timetable for achieving
this return with Directors
The Trust will endeavour to operate companies to achieve a commercial
return while balancing the social realities of the island community.
The Trustees recognise that in some instances the rate of return on
companies maybe lower of that expected in New Zealand. The Trustees
consider that the difference represents the “social balance” for the island
reflecting the tougher economic environment experienced on the Chatham
Islands and any true commercial rate of return can not be obtained without
undermining economic viability of current Island businesses.
It is anticipated that on average the return across all investments and
companies will be sufficient to exceed annual inflation on the average.
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Strategic Plan 2009

3 Review Operational Management of Companies to reduce
compliance time and cost.
Actions
• Assess existing structure but have common directors and meetings for
infrastructure companies
- Combine selected company meetings
- 1 Trustee as a director for each company (who is in
addition to one other local director) to facilitate better
communication between companies and Trustees
4 Priority of projects, resourcing and funding
a The Trust has limited resources within which to deliver the
proposed strategic objectives – both financial and human resource
c It currently costs the Trust in excess of $600,000 per annum
(including special projects and consultancy) to run the Trust and all
its activities. Wages and salaries comprise $300,000 per annum.
d It becomes obvious that the annual cash surpluses from
commercial operations are not covering the cost of running the
Trust. There is no return to provide for future replacement of
assets or to promote economic or social development without
eroding Trust capital. Quota is deemed to be a strategic asset and
not able to be sold. Therefore the only assets able to be realised
for cash to be utilised for infrastructure or economic development
initiatives is approximately $7,200,000. To do this will mean the
Trust will run out of funds to run day to day operations.
Actions
The Trust needs to orientate its activities as follows

b Current realisable assets at market value are: • Establish a structured plan framework for pursuing Government
funding for economic and infrastructure development
Asset Description Estimated Average Cash
Market Annual Cash Return
Value Today Surplus (loss) % - Develop a funding strategy and research process
*

Quota $16,500,000 $500,000 3.0%

- Investigate funding sources
Forestry $2,300,000 $(100,000) (4.3%)
Investments – Bonds - Match funding sources to economic development strategy
and cash $3,000,000 $100,000 3.33%
NZ Equities $1,900,000 - 0%
- Establish relationships with Government funding
23,700,000 500,000 providers to secure long term funding for the Trust and
the Island
* Before management fees
# Estimated forestry value if held to maturity in 2024
Chatham Islands Enterprise Trust
Strategic Plan 2009
- Develop relationships with advisors and central
Government to assist in funding applications, reporting
and accountability frameworks
- Adopt greater responsibility for regional economic
development
- Housing –invest in on Island housing to promote
economic development and achieve on island commercial
6-7% Return.
- Provide assistance for developing island economic
business case for increasing residential accommodation
provided on island.
The Trust is already focusing on housing by having land available
for sale, are members of the Chatham Islands Housing Trust and
participating in the “Warm Homes Project”.
- Focus on on-island partnerships to deliver outcomes for
the island
• The Trust will prioritise infrastructure improvements over other
economic and social development initiatives. Solving of current
infrastructure issues on the Chatham Islands will be a significant step
towards improving economic and social development. The core focus
will be:
- Long term sustainable and stable electricity prices through
natural renewable resources to reduce reliance on diesel
generation and promote island industry
- Effective and efficient port and airport services that future
proof transport access to the island
15
- Facilitate effective and cost efficient shipping or own a
Shippings service on behalf of the island.
5 Physical relocation of Trust Office versus current site
Actions
• Trust office will remain in current site and the office maintained on as
needed basis.
- Assess options for office site at a time when Chatham
Island Council is evaluating its office circumstances.
6 Governance
Actions Comment [s2]: A suggestion
• Attendance at governance training to understand roles and came from Owen Picklesto Simon
that the economic return for
responsibilities of Directors / Trustees versus management. housingon island could be between
6.0 % and 7.0%. It needs to be
Implement annual governance training initiatives. looked at whether such return levels
can be achieved
• Implementation of quarterly reporting against strategic and business Do trustees wish to include a focus
plan (beyond financial). on housing in this strategic plan ?
• Continue to review strategic planning and explore opportunities for
regional economic development initiatives.
• Have one Trustee as a director on each company to improve
communication and reduce duplication of effort by Trustees and
directors.
7 Human Resources
Actions
• Assess skill competency level and match to current and future
requirements – identify skill gap for training or decision to outsource
tasks
Chatham Islands Enterprise Trust 16
Strategic Plan 2009

If appropriate develop a structured training plan for staff to assist in ability - Monthly emails of Trust updates and activities to all
to stakeholders (suppliers, Government officials, Chatham
Islanders).
- Gather information to acquire central Government funding
- Continue publication in Chatham Islander
- Report on economic development initiatives
• Hold bi-annual workshops with community to provide and receive
- Other initiatives as agreed to by the Trust feedback on strategic progress

• Develop a succession plan for the General Manager • Prepare website to make Trust information freely available

• Work towards reporting in annual report progress against strategic

targets
8 Environmental and Sustainability Focus
Actions
• Include environmental considerations as part of strategic focus of all
operations of the Trust

- All decisions consider environmental implications as part of

decision making process

- Strategic target is for all operations of the Trust to be 100% self

sustaining and favour environmental focussed industry
development

- Reduce reliance on diesel for electricity generation such that in 10

years time the majority of electricity generation is from natural
renewable energy.

9 Transparency of operations
Actions
• Prepare policy on levels of disclosure in Chatham Islander
Chatham Islands Enterprise Trust
Strategic Plan 2009
B. Economic development
10 Promote development of industry on Chatham Islands
a Reduce average unit power prices to less than twice that of New
Zealand - See Electricity company plan
b Secure availability of fuel for all consumers on the island and a
secure shipping service
Actions
• Trustees have resolved to take an active part in ensuring that the Island
is serviced with a viable and sustainable shipping service
- Develop a business plan proposal into partial or full ownership of a
shipping service – the Trust is prepared to invest in developing an
effective shipping service to the island if required.
- Develop a business plan for stevedoring operations
• Investigate options to reduce reliance by the island on fuel.
• Consider options around an on Island abattoir for processing meat.
This option will remain on hold until such time as the cost of
electricity is reduced in accordance with Electricity company’s mission
statement
• Assist in the establishment of a Regional Tourism Organisation
functions for Chatham’s Tourism Industry.
- Strategic direction for development of tourism by the Trust is a
facilitation role only:
17
-The Trust strategy is to facilitate opportunities to secure Government
funding. The Trust has provided initial seed funding to employ a local
tourism co-ordinator.
- Pending results and other requirements the Trust strategically
remains open to funding projects that facilitate tourism growth
• Sell surplus land and Trust property. Forestry sections are available for
sale.
• Provide a facilitation role to other embryonic economic development
projects to the point that islanders can commercialise
11 Promote provision of services
• Provision of community wide broadband
Communication with the rest of the world is increasingly important as
a business and marketing tool and improves quality of life for
residents. Satellite broadband provides a service to the community
but is limited due to high costs.
Action
- Maintain a watching brief on Government broad band funding
initiatives and ability to secure funding for the Chatham Islands.
12 Encourage and oversee transport services
• Refer also to Ports and Airport company plans
• Refer to shipping plans under Economic Development
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Strategic Plan 2009

13 Promote Fishing and the fishing industry
• Refer to Quota company
14 To promote farming and the farming industry
There are a number of inter related issues and drivers
• Support and promote enterprising developments
Actions
• Continue current program and concentrate efforts on bigger challenges
facing the Trust and Island

• See Ports plan and plans for Port redevelopment / breakwater concept

• See shipping plan under Economic Development

- Upgrading to an all weather port will make shipping operations

more economically efficient.

• Facilitate improvement of on Island farming practices

Actions
• Assist with projects such as sustainable farming on a reactive and
supportive basis.

15 To hold, manage and administer the investments

• Continue to manage the liquid and investment portfolio to maximise

economic return whilst maintaining conservative risk profile

• Remain within the investment constraints per the investment policy

• Liquidate investments as required to satisfy other program

requirements for economic development

16 Other charitable purposes

• Support and promote education

• Support and promote community social and cultural initiatives

Chatham Islands Enterprise Trust 19
Strategic Plan 2009

Trading Company Business Plans   

Each trading company has its own dedicated Board of Directors that • Develop a facility improvement plan allowing for future runway
underpins the self governance philosophy the Trust promotes through its extensions if required.
trading companies.
• Consider ownership structure.
Chatham Island Airport Ltd

The airport facility is Chatham and Pitt Islands’ gateway to the world. It is
important to have a facility that creates a favorable first impression given
the majority of visitors and travelers pass through the terminal. The facility
has a functional requirement to serve as a receiving station for fishers and
freight depot for inbound freight arriving by plane.
Mission
Have an Airport facility that is sustainable, meets the needs of all
Chatham Islanders and facility users, and is operationally safe at
reasonable cost to all stakeholders.
• Consider options of Government involvement or ownership in airport.
• Seek independent Director appointment with airport experience.
• Long term focus is to upgrade presentation of facility to make more
presentable to visitors. Currently such plans are low priority.
• Implement target for company as break even and focus on provision of
service.

Actions
• Continued compliance with Civil Aviation Authority sections 171 and
139.

• Develop a 20 year Asset Maintenance Plan for the Airport facility.

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Strategic Plan 2009

Chatham Island Electricity Ltd - Only essential maintenance will be undertaken while the Trust is
facing declining funds
- Assess all proposed projects and capital expenditure against ROI
criteria and the mission statement
• Continue ongoing improvements in day to day activities to achieve
best practice.

- Bench mark operational policies against NZ companies and best

practice (tailored for the Chatham Islands)

• Establish a 20 year asset maintenance plan for all electricity assets.

The Electricity Company is an essential service and provides significant
opportunity to facilitate economic development through delivering lower • Incorporate sustainability criteria and initiatives within decision making
power prices. The Company has three business units: frameworks.
• Power generation
• Expand the network and customer base in line with return on
• Reticulation investment criteria, sustainability focus and mission statement:
• Chargeable
- Fish processing companies
Mission
To lower per unit power price to be less than twice that of NZ retail - Reticulation line extensions
• Investigate and implement alternative generation options that reduces
Prices and reticulation charges need to be such that future line and
generation replacement is funded out of cash flow whilst achieving the reliance on diesel power generation in line with mission statement.
target economic rate of return for the company in a sustainable manner
• Work with central Government agencies to secure long term funding
Actions for electricity infrastructure assets.
• Implement a return on investment (ROI) or required rate of return on
net assets (equity) employed of 5%.

- Balance economic and social considerations

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Strategic Plan 2009

Chatham Island Ports Limited • Establish a relationship with a consulting firm to assist Trust initiatives
such as project development, project maintenance and peer review.

• Consider ownership structure.

- Develop a strategic asset development plan that works toward

future proofing the port facilities of the island

- Urgent repair to existing wharves

- Feasibility of port relocation
- Breakwater concepts
- Upgrade of existing facilities / Roll on Roll off concepts
• Work with central Government agencies to secure long term funding
for port infrastructure assets.
The Port is the life line of the island with nearly all essential goods and
services coming through this gateway. • Implement target for company as break even and focus on provision
of service.
Mission
Have Port facilities that is sustainable, meets the needs of all • Consider business case for stevedoring operation at Waitangi Port Comment [s3]: Allows for Pitt
Chatham Islanders and facility users that is safe and able to have all Island
weather access for shipping operators

Actions
• Continue ongoing improvements in day to day activities to achieve
best practice.

- Bench mark operational policies against NZ companies (tailored

for the Chatham Islands)

• Establish a 20 year asset maintenance plan for all port assets.

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Strategic Plan 2009

Chatham Island Forestry Limited • Consider sale of all surplus land as is – if someone wishes to acquire

The Forest Company has two areas of interest. The first being property at • On the Chatham Islands no further expansion of forestry is planned:
Mahia close to Gisborne and the second being forest development on
Chatham’s. Both of these business interests historically have been
considered long term investments for the Trust. - The existing forest will be maintained, pruned and thinned until
maturity
The Mahia block has approximately 15 years until it achieves logging
maturity. - Exit from non performing forestry investments

The Chatham’s blocks consist of macrocarpa blocks which will take

between 17 and 27 years to harvest. The intent was to provide wood for
the island for specialty woods and perhaps export. Current costings
indicate that transport costs and logging costs to get wood off the island
are prohibitive.

At the Mahia forest all the pruning and thinning has been completed and
now the trees are in the maturing phase. This means forest maintenance
and management costs will decrease until the trees are mature enough to
harvest.

Mission
To meet a 5% per annum cumulative return on investment.

Actions
• . Current thinking is that the Mahia forest may not be held to maturity.
It is contemplated either of the following options will be investigated
within the next 2 – 3 years

- Partial sell down to another party

- Total sale of forest
• Monitor the management of the Mahia Forest in the interim on a
maintenance basis only.
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Strategic Plan 2009

Chatham Island Quota Limited - Open to initiatives if approached but not a priority for
Trust until infrastructure issues solved
This is the largest commercial asset of the Trust with a market value of
approximately $16.5 million comprising CRA6 and wet fish quota. Quota
• Allocated quota from government cannot be used as security for
is considered a core asset of the Trust and the retention of the current level
of quota is considered fundamental for the future economic and social purchasing further quota.
survival of the island.

Mission
To hold, Chatham’s area quota shares and sell the ACE to
Chatham’s based fishers at a fair and reasonable price whilst
achieving an acceptable market rate of return for the company.

Actions
• Obtain a commercial rate of return on market values of assets.

• Investigate commercialization and development of other allocated

species

- once established as commercially feasible then company will

undertake a facilitation role for commercial fishery development

• Maintain current level of investment in quota

- Purchasing parcels of quota on the basis that they are able to be

financed from within the Quota Company. No further investment
from the Trust is contemplated.

- Consider larger parcel purchases with objective of splitting and on-

selling to island fishermen.

• Development of joint quota processing and Chatham brand for sale of

fish
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Strategic plan 2009

Chatham Island Management

Mission
To provide timely, efficient, management, accounting and
administration services to the Trust and its companies. To act as the
economic development agency for the Island. To hold commercial
assets and operations until they reach a point where a separate
company is required to manage the assets effectively.

Actions
• Facilitate the many projects / actions detailed in this plan

• Sell coolstore / freezer or refurbish for long term income

- Business case detailed and provided to Trustees

• Pending outcome of shipping activities and bulk fuel situation

- lease out the Chatham fuels building

- Manage importation and distribution of bulk fuel