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Port Moresby
February 21, 2020
Featured News Papua New Guinea

CTSL Announces Net Surplus after tax of K20.87 Million

By Meriba Tulo – EMTV News, Port Moresby

Comrade Trustees Services Limited today (10th April) announced their full-year results of 2018, with its Chairman Moses Koiri, outlining the overall performance of the fund, against a backdrop of challenging economic climate.

As expected, 2018 results were down from previous years; however, prudent investment and management by the fund allowed for a positive result yet again.

Overall, the fund achieved;

 

According to Chairman Koiri, despite a challenging operating environment, the expectation for positive value for contributors remained.

Shareholder representative and PNGDF Commander, Major General Gilbert Toropo, thanked CTSL for continuing positive growth for its members.

As with other superannuation funds in PNG, sound investments laid the platform for continued positive growth, with CTSL CEO John Auma alluding to the success of one of its investments in the last 12 months.

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