e r 2 - Umgeni Water
e r 2 - Umgeni Water
e r 2 - Umgeni Water
- No tags were found...
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
| Participation inCompaniesChapterChapter 6.Participationinn Coompanies6.1<strong>Umgeni</strong>WatWer Services(Pty)) Ltd<strong>Umgeni</strong><strong>Water</strong>has a 100% shareholdingin <strong>Umgeni</strong> <strong>Water</strong> Services(UWS)) (Pty) Ltd. . This subsidiaryholds an 18.5%investmentin DurbanWateWer Recycling.<strong>Umgeni</strong><strong>Water</strong>issueda letter of supportto UWS, as at 300 June2009, duedto thefact thatits liabilities exceeded itsassets by R1.8m.Initiatives undertaken by b Durban<strong>Water</strong>r Recyclingg (Pty)Ltdd (throughh <strong>Umgeni</strong> <strong>Water</strong> Services (Pty)) LtdDurban<strong>Water</strong>Recyclingg was set up as <strong>Umgeni</strong> WateWer’s contributionto waterdemand management,specificallyfocussing on recycling.Thecompanyhasalwaysbeen suststainable, andis noww startingto pay dividendstoshareholders.Durban<strong>Water</strong> Recycling contributes to <strong>Umgeni</strong> <strong>Water</strong>’ss ‘Customerandd GrowthPerspective’’ and strategicobjective ‘Grow/ increase customerbase’ for which theoutcomeandd key performance indicator are as indicatedbelow.CustomerandGrowthPerspectiveeStrategic ObjectiveeGrow/ Increasecustomerbase<strong>Umgeni</strong> <strong>Water</strong>Outcome<strong>Water</strong>ResourcesAdequacyDescription of Outcome<strong>Umgeni</strong><strong>Water</strong> hashWateer ResourcesAdequacy,when itassessess thee scarcityof freshwaterresources, investigates sustainable alternatives,manages waterabstractionsassiduously andhasaccess to stableraw w water resources to meet currentandfuture customerr needs.Keyy Performance Indicator:The extent towhichthere iswaterr resources assurance /supplyy security.6.2Msinsii Holddings(Pty)Ltd<strong>Umgeni</strong><strong>Water</strong>has a 100% shareholdingin Msinsi Holdings (Pty)) Ltd.The Boardof <strong>Umgeni</strong> <strong>Water</strong>hass takenn a decision to sell s its shareholdingg in MsinsHoldings subjectto DWAgrantinga lease on the landd betweenthee purchaselinee and floodd line for f Inanda,Albertt Falls and a Hazelmere dams.<strong>Umgeni</strong><strong>Water</strong>has provvided a letterof supportt too MsinsHoldingsass its goingconcern status is dependentupon<strong>Umgeni</strong><strong>Water</strong>’scontinuedd supportin terms of contracting/engaging Msinsi to undertakee the <strong>Water</strong> ResourceManagement Function for f thedams.Msinsi’ss loan account ass att 30 June 2009 was R0. .3m due by b <strong>Umgeni</strong>i <strong>Water</strong> toMsinsi. Thee operations of Msinsibreak-evenas illustratedd in thefinancialplanoff this businesss plan.<strong>Umgeni</strong><strong>Water</strong>signed ann agreementfor theO& &M of dams withh DWAA in 2011. Theese dams are a to be managed byMsinsi, andtherelationshipp between<strong>Umgeni</strong> <strong>Water</strong> andMsinsiwill thus continue for the duration off the contract.<strong>Umgeni</strong> <strong>Water</strong> Five-YearBusinessPlan | 2011/20122 too 2015/201627Page 2
Change language