Nuhaka equity up
Unitholders’ equity in the Nuhaka Forestry Fund increased from 551 c to 606 c a unit in the year ended March 31, the trustee reports. ■ , Mr B. D. Smaiil, general manager of the AMP Perpetual Trustee Company, New Zealand, said forestry valuation rose from $7,004,102 to $7,921,569, and total unitholders’ equity rose from $7,661,293 to $8,416,356. The fund ended the year with a cash deficit of $18,967. During the year a forestry hardship plan of $92,632 was granted until 1992 by the Rural Banking and Finance Corporation. A further loan has been approved to enable the forest to be adequately maintained to maturity. At balance'date, $599,993 was available to write off against future taxable income.
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Press, 21 July 1989, Page 14
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118Nuhaka equity up Press, 21 July 1989, Page 14
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