❓ Hon Ken Travers questions the Treasurer regarding the proposed sale of the Utah Point bulk handling facility, seeking details on revenue loss, discount rates, pricing policies, and estimated revenue. The Treasurer's representative indicates that work is ongoing to determine these figures.
AnsweredQoN 255Legislative Council
QuestionView source ↗
UTAH POINT
— ASSET SALES
255. Hon KEN TRAVERS to the minister
representing the Treasurer:
I have a question that I am sure the
minister will have an answer to. I refer to the proposed sale of the Utah Point
bulk handling facility.
(1) What is the
estimated loss of revenue to the state over the life of the proposed lease?
(2) What discount rate was used to
calculate this figure?
(3) What pricing policies for the
facility were used to calculate this figure?
(4) What is the estimated revenue
the facility is estimated to generate over the next five years?
— ASSET SALES
255. Hon KEN TRAVERS to the minister
representing the Treasurer:
I have a question that I am sure the
minister will have an answer to. I refer to the proposed sale of the Utah Point
bulk handling facility.
(1) What is the
estimated loss of revenue to the state over the life of the proposed lease?
(2) What discount rate was used to
calculate this figure?
(3) What pricing policies for the
facility were used to calculate this figure?
(4) What is the estimated revenue
the facility is estimated to generate over the next five years?
AnswerView source ↗
I thank the member for some notice
of the question.
(1) Work is
ongoing regarding the loss of future revenue to the state over the term of the
lease. The Department of Treasury will complete this work ahead of the receipt
of indicative bids for the proposed sale. It should be noted that the Pilbara
Ports Authority typically provides five-year forecasts and further work is
required to establish a defensible forecast for the much longer proposed lease
period.
(2)–(3) Not applicable.
(4) Work is
ongoing on the estimated revenue. The provisional amounts prepared by the
Pilbara Ports Authority on its five-year forecasts are on the basis of
allocations that may not be a fair reflection of revenue and expenses that
could be expected in the hands of a private operator. Providing unqualified
financial information out of context may lead to false perceptions as we
progress with the transaction process.
of the question.
(1) Work is
ongoing regarding the loss of future revenue to the state over the term of the
lease. The Department of Treasury will complete this work ahead of the receipt
of indicative bids for the proposed sale. It should be noted that the Pilbara
Ports Authority typically provides five-year forecasts and further work is
required to establish a defensible forecast for the much longer proposed lease
period.
(2)–(3) Not applicable.
(4) Work is
ongoing on the estimated revenue. The provisional amounts prepared by the
Pilbara Ports Authority on its five-year forecasts are on the basis of
allocations that may not be a fair reflection of revenue and expenses that
could be expected in the hands of a private operator. Providing unqualified
financial information out of context may lead to false perceptions as we
progress with the transaction process.
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