For year-ending September 30, 2006
ORGANIZATIONAL MANDATE
|
Shawano-Wapunong Building Inc. was incorporated as a private corporation under the Corporations Act of Manitoba and began operations in October 1982.
Shawano-Wapunong Building Inc. is owned and operated equally by the nine First Nations of SERDC.
Shawano-Wapunong Building Inc. is dedicated exclusively to the economic development of its shareholders by placing long-term strategic investments in the mainstream economy which provides a reasonable return, generates wealth, and provides a solid foundation for First Nations’ economic development and self-government initiatives.
SHAWANO-WAPUNONG ASSETS OWNERSHIP
At present, Shawano’s assets are comprised of the following real estate:
360 Broadway Avenue
SERDC Hangars at St. Andrews Airport
208 Edmonton St.
Parking Lot at 384 Broadway Avenue
Southeast College at 1301 Lee Blvd.
ASSETS
ONE-SEVENTH (1/7) OF TRIBAL COUNCILS INVESTMENT GROUP (TCIG) WHICH OWNS:
Arctic Beverages
First Canadian Health (NIHB) based in Toronto, ON
5% of First Nations Bank of Canada
10.2% of Larter’s Golf Course
21% of Perimeter Airlines
51% of Radisson Hotel
20% of Bieber Securities
2.5% of MTS Centre
20% of Big Freight Systems Inc.
First Canadian Fuels Ltd.
10% of Westfield Properties
10% of Paragon Pharmacy Inc.
SHARES IN BUSINESSES INCLUDING:
100% of Players Golf Course, Winnipeg
20.4% of Larter’s Golf Course, Winnipeg
10.2% of Meadows Golf Course
21% of Lake of the Sandhills Golf Course, Buffalo Point
ACHIEVEMENTS
Shawano-Wapunong has provided direct and indirect financial benefits such as cash returns to SERDC First Nations and Capital Loans and Loan Guarantees to:
Poplar River Nursing Residence
Poplar River Health Facility
Pauingassi Nursing Station
Berens River Health Facility
Southeast College
Players Golf Course
Wa-Wa-Taik Building Supplies Ltd.
Wasenikan Window Manufacturing Ltd.
Barge at Berens River First Nation
Bloodvein Nursing Station
Buffalo Point First Nation Golf Course
South Beach Casino
Black River First Nation 8-Unit CMHC Project
Berens River First Nation CMHC RRAP Project
Hollow Water First Nation CMHC Housing Project
Shawano-Wapunong has provided Administrative Loans to:
Poplar River First Nation
Little Grand Rapids First Nation
Bloodvein First Nation
Hollow Water First Nation
Black River First Nation
Brokenhead Ojibway Nation
Pauingassi First Nation
Berens River First Nation
Buffalo Point First Nation
SUMMARY
The establishment and development of this company and its financial performance and financial strength over the past 20 years have provided the nine First Nations owners with the financial strength to provide both the direct and indirect benefits to the shareholding communities.
The continued growth of the company and, more importantly, as a result of this growth, the potential for major long-term financial and service benefits to the shareholding communities depends upon patience by the shareholders in foregoing quick cash returns from this business. As has been shown by the past years' operating performances and asset growth identifying and then investing in market, sound investments can create considerable future value for the shareholders.
|
|