2004 Crown Investments Corporation of Saskatchewan Annual Report
2004 Crown Investments Corporation of Saskatchewan Annual Report
2004 Crown Investments Corporation of Saskatchewan Annual Report
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MANAGEMENT’S DISCUSSION AND ANALYSISA Closer View <strong>of</strong> CIC’s HoldingsCIC is involved in a broad array <strong>of</strong> industries through various forms <strong>of</strong> investment. A number <strong>of</strong> investments areheld as wholly-owned subsidiaries while others are joint ventures and partnerships held either directly by CIC orthrough its wholly-owned subsidiaries.Investment Major Business Line Form <strong>of</strong> investment<strong>Saskatchewan</strong> Power <strong>Corporation</strong>(SaskPower)<strong>Saskatchewan</strong> TelecommunicationsHolding <strong>Corporation</strong> and <strong>Saskatchewan</strong>Telecommunications(collectively SaskTel)SaskEnergy Incorporated(SaskEnergy)<strong>Saskatchewan</strong> Water <strong>Corporation</strong>(SaskWater)Information Services <strong>Corporation</strong> <strong>of</strong> <strong>Saskatchewan</strong>(ISC)<strong>Saskatchewan</strong> Government Insurance(SGI)Investment <strong>Saskatchewan</strong> Inc.NewGrade Energy Inc.(NewGrade)<strong>Saskatchewan</strong> Opportunities <strong>Corporation</strong>(SOCO)<strong>Saskatchewan</strong> Development Fund <strong>Corporation</strong>(SDFC)<strong>Saskatchewan</strong> Government Growth FundManagement <strong>Corporation</strong>(SGGF)<strong>Saskatchewan</strong> Transportation Company(STC)ElectricityTelecommunicationsNatural GasWater and WastewaterLand and Property RegistrationServicesProperty and CasualtySeveralHeavy OilInfrastructureMutual FundImmigrant InvestorPassenger and FreightTransportationwholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiary50.0 per cent equity interestwholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiarywholly-owned subsidiaryUtilitiesInsuranceCommodity Based <strong>Investments</strong>Economic GrowthTransportationPr<strong>of</strong>iles <strong>of</strong> each subsidiary <strong>Crown</strong> corporation and NewGrade, as a major investment, are included in this section. Eachsubsidiary <strong>Crown</strong> corporation prepares an annual report which is tabled in the Legislative Assembly. For additionalinformation please refer to these annual reports.The data on the following page illustrates the importance <strong>of</strong> the utility business segment to the financial results <strong>of</strong> CIC. Ofthese corporations, SaskPower, SaskTel and SaskEnergy are the most significant in terms <strong>of</strong> assets, liabilities and operatingincome generated. The ability <strong>of</strong> utilities to achieve their respective financial targets is important to CIC’s financial success.C I C48
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