VECTOR ANNUAL REPORT 2021 /
Notes to the Financial Statements
14. Investments continued 14.2 Investments in subsidiaries Signif icant entities and holding companies in the group are listed below.
PERCENTAGE HELD
PRINCIPAL ACTIVITY
2021
2020
Trading subsidiaries NGC Holdings Limited
100% 100%
Holding company
100% 100%
Vector Gas Trading Limited
Natural gas trading and processing Bulk LPG storage, distribution, and management
Liquigas Limited
60%
60%
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%
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 PowerSmart NZ Limited Vector ESPS Trustee Limited E-Co Products Group Limited Cristal Air International Limited
Telecommunications Holding company Energy solutions services
Trustee company Holding company
Ventilation, heating and water systems sales and assembly
100%
100%
Vector Advanced Metering Services (Australia) Pty Limited
100% 100% 100% 100% 100% 100%
Metering services
100% 100% 100% 100% 100% 100%
Vector Advanced Metering Assets (Australia) Limited Metering services
Vector Energy Solutions (Australia) Pty Limited
Energy solutions services
Vector Technology Services Limited Vector Auckland Property Limited Vector Northern Property Limited Non-trading subsidiaries Ventilation Australia Pty Limited
Technology services
Assets holding company Assets holding company
100% 100%
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 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.
Amalgamation
Vector Kapuni Limited was amalgamated into Vector Gas Trading Limited on 30 June 2021. Vector Kapuni Limited had been non-trading since April 2020.
Geography
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.
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