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13. Investments continued 13.3 Investments in subsidiaries Signif icant trading entities and holding companies in the group are listed below.
PERCENTAGE HELD
PRINCIPAL ACTIVITY
2020
2019
Trading subsidiaries Vector Gas Trading Limited
100%
Natural gas trading and processing Bulk LPG storage, distribution, and management
100%
Liquigas Limited
60%
60%
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
On Gas Limited
LPG sales and distribution
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Vector Metering Data Services Limited Advanced Metering Assets Limited Advanced Metering Services Limited
Holding company Metering services Metering services Metering services
Arc Innovations Limited
Vector Communications Limited Vector Energy Solutions Limited
Telecommunications Holding company Energy solutions services
PowerSmart NZ Limited
Vector ESPS Trustee Limited E–Co Products Group Limited Cristal Air International Limited
Trustee company Holding company
Ventilation, heating and water systems sales and assembly
Ventilation Australia Pty Limited
Holding company
HRV Australia Pty Limited
Ventilation systems and parts sales
Vector Advanced Metering Services (Australia) Pty Limited
Metering services
Vector Advanced Metering Assets (Australia) Limited Metering services
Vector Energy Solutions (Australia) Pty Limited
Energy solutions services
Vector Technology Services Limited
Technology services
– –
Vector Auckland Property Limited Vector Northern Property Limited Non–trading subsidiaries Vector Kapuni Limited (non– trading from 1 April 2020)
Assets holding company Assets holding company
100%
100%
Joint operator – cogeneration plant
100%
Policies
Subsidiaries are entities controlled directly or indirectly by the parent. Vector holds over 50% of the voting rights in all entities reported as subsidiaries. The f inancial statements of subsidiaries are consolidated into the group’s f inancial statements. Intra–group balances and transactions between group subsidiary companies are eliminated on consolidation. All subsidiaries are incorporated in New Zealand, except for the following which are incorporated in Australia: — Vector Advanced Metering Services (Australia) Pty Limited; — Vector Energy Solutions (Australia) Pty Limited; — Ventilation Australia Pty Limited; — HRV Australia Pty Limited.
Geography
THE INTERPLAY OF TODAY AND TOMORROW
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