asked the Minister for Finance if he will state in respect of each company in which State funds are invested under statutory authority (a) the name of the company, (b) total capital liability, (c) the amount of the State investment, (d) the profit or loss in the last accounting year for which figures are available, (e) the dividend, if any, declared, and (f) the amount received by the Exchequer in respect of dividends.
Ceisteanna—Questions. Oral Answers. - State Funds in Companies
As the reply is in the form of a tabular statement, I propose, with the permission of the Ceann Comhairle, to have it included in the Official Report.
The particulars requested are given in the appended statement. It is assumed that the question refers to companies incorporated under the Companies Acts pursuant to specific statutes and that the term "capital liability" refers to share capital.
|
Name of Company |
Total Capital Liability |
Amount of State Investment |
Profit (+) or loss (-) as shown in latest published accounts |
Dividend (if any) declared |
Gross amount received by Exchequer in respece to Dividends |
|
|
Year ended |
Amount |
|||||
|
£ |
£ |
£ |
£ |
|||
|
Aer Rianta, Tecranta |
2,000,000 |
1,999,989 |
31st March, 1949. |
– 285,098 (a) |
Nil |
Nil |
|
Agricultural Credit Corporation, Ltd |
300,000 |
300,000 |
30th April, 1949. |
+ 9,743 |
3% |
9000 |
|
Alginate Industries (Ireland), Ltd. |
10,000 |
5,100 |
(b) |
(b) |
(b) |
Nil |
|
Ceimíci, Teoranta |
275,763 |
275,756 |
30th September, 1949. |
+ 9,861 |
5% |
13,788 |
|
Cólucht Groighe Náisiúnta na h-Éireann, Teoranta |
171,570 |
171,570 |
31st December, 1948. |
– 9,330 |
Nil |
Nil |
|
Comhlucht Siúcre Éireann, Teóranta |
1,000,014 |
500,000 |
30th April, 1949. |
+ 199,698 |
5% on ordinary shares 6% on preference shares |
25,000 |
|
Irish Assurance Company, Ltd. |
100,000 |
90,254 |
31st December, 1948 |
(c) |
Nil |
Nil |
|
Industrial Credit Company, Ltd. |
812,500 |
804,517 |
31st October 1949. |
+ 93,484 |
4% |
32,181 |
|
Irish Shipping, Ltd. |
200,000 |
199,994 |
30th June, 1948 |
– 158,873 |
Nil |
Nil |
|
Mianraí, Teoranta |
127,490(d) |
127,490 |
31st March, 1949. |
– 71,789 |
Nil |
Nil |
|
(a) Includes losses incurred by subsidiaries. |
||||||
|
(b) The shares were acquired by the Minister for Lands in December, 1949. The Company, being a private one, is not obliged to publish its accounts, but from 1950 onwards the accounts are required to be presented to the Oireachtas by the Minister for Lands. |
||||||
|
(c) A valuation of the Company's business at the end of 1948 did not permit of any profit allocation. |
||||||
|
(d) Ordinary share capital amounts to £200 but the Company's liability to the Minister for Industry and Commerce for repayment of advances with interest amounts to £127,290. |