In response to the National Newspaper’s cover story on Wednesday, 28 September 2022, we would like to reiterate Nambawan Super Limited’s (NSL) position on the proposed privatization of the State Owned Enterprise, Telikom PNG Limited (Telikom).
At this point in time NSL has not made any commitment to purchase shares in Telikom.
We will only do so after we have reviewed the investment through our established processes and have deemed the venture to be beneficial to our Members.
We congratulate Telikom’s Management and staff on their successful performance this year in generating a profit of K28 million and delivering a K3 million dividend to its shareholders.
Despite Telikom’s good performance this year, like all investments considered by the Fund, we must still follow our strict regulatory guidelines before committing to a deal.
NSL is the Trustee for over 214,000 hardworking Papua New Guineans and so it is essential that the Fund is prudent in its considerations.
We consider all investment opportunities on their own merits in consultation with our Licensed Investment Manager as required under the prudential standards and regulations.
This process guides investment decisions and ensures that opportunities to generate returns for our Members are considered against the appropriate level of risk.