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September 23, 2021
Business News

Kumarasiri says PNG Ports is a shining light

“PNG Ports is the number one performing SOE (State Owned Enterprise),” Managing Director of the Independent Public Business Corporation (IPBC) Wasantha Kumarasiri has said.

In an address to the Board, Management and staff of PNG Ports Corporation Limited, Mr Kumarasiri described PNGPCL as a “shining light” among other state owned enterprises.

Mr Kumarasiri, said unlike other SOE’s, PNGPCL was outstanding in what it does. “When it comes to corporate governance, quality of reporting, achieving outcomes and submitting acquittals, PNG Ports is always on time. They always send reports on time before we even ask,” said Mr Kumarasiri.

Mr Kumarasiri attributed this to commitment and stability within the Board and Management of PNGPCL.

He made these remarks during the announcement on the reappointment of Mr Stanley Alphonse as the PNGPCL Chief Executive Officer for a second term of three years on Friday 10th April.

Mr Kumarasiri said the journey was huge but promised that IPBC, as a shareholder, would work with PNGPCL.

“We will stay together, work together and ultimately serve the people of PNG,” he said.
He encouraged PNGPCL to continue to progress, cut costs, return dividends, and provide affordable services.

Mr Alphonse said he was ready to take the company to the next level because of the confidence the PNGCPL Board had in him, backed by the support from IPBC.

“PNG Ports is profitable and we are heading in the right direction, we know where we are going and we know what it takes to get there,” Mr Alphonse said.

“The Board and the Management team should be congratulated for where the business was and what it is at the moment,” he said.

“I think we’ve got the business out of the ICU, took it to the outpatient, now we’re just leaving the hospital and we are looking for the best transport to get home. And that is where the business is at the moment. We are healthy.”

“We will work to be better,” he said.

 Source: PNG Ports

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