SCF problems temporary – Updated

September 22, 2009

The central South Island would be a much poorer place were it not for the business acumen and generosity of Allan Hubbard.

Many individuals and businesses owe their success to him as an individual or his company, South Canterbury Finance.

The Opuha Irrigation Scheme is one example where Hubbard’s generosity is public. There have been many more known only to him and the people, charities and businesses he has helped.

Both Hubbard and SCF have a reputation for integrity.

The difficulties the company is facing now which has resulted in a creditwatch negative from Standards and Poor’s, is not a result of shonky dealings or high living. I have no trouble believing Hubbard when he says:

. . . the change in the ratings status “should quickly be resolved as it is a matter of timing arising principally from a delay in finalising the company’s audited accounts.”

Hubbard and the company’s directors will be doing everything they can to solve what should be temporary problems and regain the company’s reputation and credit rating.

UPDATE:

The Press has an interview with the quiet benefactor.


September 22 in history

September 22, 2009

On September 22:

1515 Anne of Cleves, the fourth wife of Henry VIII, was born.

1880 Dame Christabel Pankhurst, English sffragette was born.

 

1888 the first issue of National Geographic magazine was published.

1906 Domestic workers called for a 68 hour working week.

1908 Bulgaria proclaiemd its independence.

1915 English actor Arthur Lowe was born.

1924 English writer Rosamunde Pilcher was born.

1931 English writer Fay Weldon was born.

1931 A coaltion government was formed by the United and Reform parties to fight the Depression.

1958 Italian tenor Andrea Bocelli was born.

Sourced from Nz History Online & Wikipedia.


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