Better transparency when a company has private investors

The Herald reports:

There is a huge difference between the timing and level of disclosure of the four Government-controlled NZX-listed companies – Air New Zealand, Genesis Energy, Meridian Energy and Mighty River Power – and other Crown entities.

The four listed companies have released detailed results for the June 2015 financial year but a number of the other Crown entities have yet to report and there has been a relatively low level of disclosure by those that have reported.

Air New Zealand and Meridian Energy have published their full annual reports but it will be late October – or even November – before some of the non-listed Crown entities release their full financial statements.

This is one of the benefits of not being 100% Government owned. When you are on the NZX you are forced to publish far more information, and in a much more timely manner.

If Solid Energy had private owners, then their woes would have been obvious far earlier on.

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