Posted By Staff Reporter
By David Lepi In this week’s edition we’ll look at the business arms of the Southern Highlands Provincial Government and compare and contrast with the business arms of other provincial governments especially with provinces that do not have rich natural resources and strong revenue streams like ours. SHP is blessed with multiple sources of income from levies- oil and gas- equities, royalties together with development grants annually and is by far the largest resource envelope a single province could ever have in Papua New Guinea. In addition to that the province had investments running in agriculture (coffee and tea plantations) farming, tourism (Muruk Lodge) and building and construction. And had a business arm called Southern Highlands Development Corporation Authority to manage the province’s investment portfolio and diversify future investment. The story of the oil and gas money disappearing every year on pure political expediency is a sad fact you have been hearing time and again and I must not torment you any further but our story now is what became of the province’s business arm.
What happened to the Southern Highlands Development Corporation Authority or any name change that is prudently undertaking investment with a fiduciary responsibility for and on behalf of the people of SHP and its future generation in the years to come? A company search on the Investment Promotion Authority had shown nothing so I surfed the internet and still nothing and instead led to this and caught my interest…... ‘’East New Britain Development Corporation Limited and its success over 43 years of operations is the pride of the government and the people of East New Britain Province’’ ‘’It is the sole operating successful business arm of a Provincial Government in Papua New Guinea since inception in 1976. From an initial start-up capital of K359, 000 of which K100,000 was from the National Government, it has grown its portfolio now covering subsidiary business investments all trading, with a total market value close to K200 million.’’ ‘’Our Company and Our future relies on smart sustainable investments with wholly Owned Subsidiaries with diversified business operations in;’’ Road Transport & Stevedoring, Shipping Agency & Coastal Barging , Slipway Operations, Logistics & Freight Forwarding, Port Management & Customs Brokerage Services Property Development & Leasing predominantly based in Port Moresby and Kokopo Building & Civil Constructions in East New Britain with Quality Architectural Designs of all building classes to meet clients’ requirements Commodities Exports in Cocoa & Copra with extension services in Cocoa, Coconut & Coffee Managing Agents for ENB Copra & Cocoa Co-operative Society Limited – ENBCCCSL ‘’Our Company is also venturing into new business opportunities in Mining Services, Tourism Services & Commercial Land Development in Kokopo, East New Britain Province.’’ It is indeed one of East New Britain’s success stories. Then I was again led to story after story of success from West New Britain to Western Highlands and its mighty Wamp Nga Group of Companies and the Enga Provincial Government. Even Western Province has investments in real estate like the Fly Haus gracing the skyline of Port Moresby city. What happened to Southern Highlands and what happened to the investment of its people and the future generation when finally the oil and gas wells dry up? …..will discuss more in the next edition…... Picture Kada Gunan building, another ENB investment in Port Moresby Next : Finally The "Marape Dinau Bridge" Is Settled Note: Let Your Views be heard : Send all your Political Commentaries to us through our email : pngfacts@gmail.com Share this Comments are closed.
|
PNG Politics WatchPNG Political analysis, Gossips ,Commentaries, news and ViewsPapua New Guinea Politics, news and commentaries . Send us your PNG Political view to us for publication on this page . Contact us |