December 02, 2019
Orakei endorses leadership
Ngāti Whātua Ōrakei has endorsed its current leadership, with chair Marama Royal and deputy Ngarimu Blair topping the poll for the four seats available on rotation.
New members are lawyer Julia Steenson and tā moko artist and carver Arekatera Katz Maihi, with Joe Pihema being voted off.
Revenue from property rentals increased $15 million over the year to $42 million, and the iwi declared an after-tax profit of almost $43 million.
That compares with $80 million last year.
The difference was the gain on revaluation of investment property, which was $32 million this year compared with $79 million last year.
Total equity now stands at $974 million, up $40 million for the year.
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