Notes to the financial statements
15. Investments continued 15.3 Investments in subsidiaries Significant entities and holding companies in the group are listed below.
PERCENTAGE HELD
PRINCIPAL ACTIVITY
2023
2022
Trading subsidiaries NGC Holdings Limited Vector MeterCo Limited Vector Gas Trading Limited
100% 100% 100%
Holding company Holding company
100%
–
Natural gas trading and processing
100%
60%
Liquigas Limited On Gas Limited
Bulk LPG storage, distribution, and management
60%
100% 100% 100% 100% 100% 100%
LPG sales and distribution
100% 100% 100% 100% 100% 100%
Vector Communications Limited Vector ESPS Trustee Limited Vector Energy Solutions Limited
Telecommunications Trustee company Holding company
PowerSmart NZ Limited
Energy solutions services Energy solutions services
Vector Energy Solutions (Australia) Pty Limited
100% 100%
E-Co Products Group Limited Cristal Air International Limited
Holding company
100% 100%
Ventilation, heating and water systems sales and assembly
100% 100% 100%
Vector Technology Solutions Limited Vector Auckland Property Limited Vector Northern Property Limited Vector Metering Data Services Limited Advanced Metering Assets Limited Advanced Metering Services Limited
Technology services
100% 100% 100% 100% 100% 100% 100% 100%
Assets holding company Assets holding company
– – – – –
Holding company Metering services Metering services Metering services Metering services
Arc Innovations Limited
Vector Advanced Metering Services (Australia) Pty Limited
Non-trading subsidiaries VPS Pacific Limited
100% 100%
Energy solutions services
100% 100%
Vector Advanced Metering Assets (Australia) Limited
Metering services
– –
Ventilation Australia Pty Limited
Holding company
100% 100%
HRV Australia Pty Limited
Ventilation systems and parts sales
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 financial statements of subsidiaries are consolidated into the group’s financial statements. Intra-group balances and transactions between group subsidiary companies are eliminated on consolidation.
Overseas subsidiaries
All subsidiaries are incorporated in New Zealand, except for Vector Energy Solutions (Australia) Pty Limited which is incorporated in Australia.
Disposal group subsidiaries
The companies listed below were included in the disposal group as part of the sale of 50% interest in Vector metering on 30 June 2023. These companies are part of the new Vector metering joint venture, which is recognised in the Vector consolidated financial statements as an investment in joint venture. These companies no longer meet the criteria of subsidiaries for reporting purposes and their respective holdings have been reduced to zero at 30 June 2023.
— Vector Metering Data Services Limited; — Advanced Metering Assets Limited; — Advanced Metering Services Limited; — Arc Innovations Limited; and — Vector Advanced Metering Services (Australia) Pty Limited.
The assets in Vector Advanced Metering Assets (Australia) Limited were part of the disposal group, and the company has been reclassified as non-trading to reflect this at 30 June 2023.
83
Made with FlippingBook flipbook maker