INDEPENDENT NEWS

Cup Village's Regional Investment Summary

Published: Mon 4 Sep 2000 09:22 AM
Summary Of ACVL’s Approach To Valuing The Region’s
Investment In The Cup Village
Net equity investment 85.7
Less
 estimated realisable value 38.9
 proceeds from sale of logfarm 10.0
 net working capital 2.3
 funding from Ports of Auckland
and Government 11.0
____ 62.2
_____
Net Regional Investment 23.5
The net regional investment can be broken down into
 Investment in Village infrastructure 14.0
 Loss on public participation and
running the event 9.5
Herald’s Method Of Valuing The Investment
Net equity investment 85.7
Estimated realisable value 29.0
Loss on event 56.7
Note:
1. ACVL’s realisable value is based on advice from an independent, professional valuation report. It has been accepted by ACVL’s auditors, Audit New Zealand.
2. The Herald’s valuation is based on a questioned posed in a letter from an Infrastructure Auckland executive, in the process of preparing financial information.

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