e r 2 - Umgeni Water
e r 2 - Umgeni Water
e r 2 - Umgeni Water
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Chapter| Financial Plan15.6 Subsidiaries and AssociatesSubsidiariesMsinsi Holdings (Pty) LtdMsinsi Holdings (Pty) Ltd is a 100% owned subsidiary of <strong>Umgeni</strong> <strong>Water</strong>, which provides land and wildlifemanagement of the land surrounding some of <strong>Umgeni</strong> <strong>Water</strong>'s major dams and treatment works. The entity isprojected to break even over the five year period to 2016 with positive operating cash flows.Refer to Tables 15.19 to 15.21 for the financial statement projections of Msinsi Holdings (Pty) Ltd.<strong>Umgeni</strong> <strong>Water</strong> Services (Pty) Ltd<strong>Umgeni</strong> <strong>Water</strong> Services (Pty) Ltd is a 100% owned subsidiary of <strong>Umgeni</strong> <strong>Water</strong>. Its main business is holding of aninvestment (18.5%) in an associate, namely, Durban <strong>Water</strong> Recycling and carrying out other commercial activities.Thus the main source of income for <strong>Umgeni</strong> <strong>Water</strong> Services is the dividend distribution by its associate companyDurban <strong>Water</strong> Recycling. It is envisaged that <strong>Umgeni</strong> <strong>Water</strong> Services will retain its current investment in Durban<strong>Water</strong> Recycling at R5.7m for the next 5 years.Refer to Tables 15.22 to 15.23 for the financial statement projections of <strong>Umgeni</strong> <strong>Water</strong> Services (Pty) Ltd.Page 90 <strong>Umgeni</strong> <strong>Water</strong> Five-Year Business Plan | 2011/2012 to 2015/2016
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