A landowner company in the PNG LNG Project in Hela province paid a 100% dividend to 223 shareholders on Wednesday 24th June 2020.
The Tabu and Teni Angore Noa Hai Investment Limited (T.T.A.N.H.I) a company initiated in 2010 started from scrapes in the Petroleum Development License (PDL8) area of Angore Block 1715.
A sum of K500,000.00 in dividend was paid to shareholders at the company’s Kaloma Base Camp in Angore.
The 100% dividend payment is the third for the landowner company.
The occasion also witnessed the inauguration of incumbent Chairman Pupi Toria and the celebration of the 10years anniversary of successful operation and growth of the business.
Chairman Pupi Toria hailed the company’s success behind the hardship of the company’s operation since 2010.
“We have come this far because of the commitment by the company directors, management, and hard-working staff”, said Toria.
Chairman Toria also acknowledged the good relations between gas developer Exxon Mobil, Hides Gas Development Company, and other essential stakeholders in the PNG LNG Project.
Toria said the T.T.A.N.H.I is also making huge investments outside of Hela Province.
This includes the purchase of a smallholder oil palm plantation in Kimbe West New Britain Province with title and properties in Tari and Port Moresby.
Chairman Toria said these investments and expansion of assets are for the benefit of its shareholders. “Our shareholders are reaping their investment and we are happy to see that being achieved”, he added.
The firm now has assets valued over K15million.
It all began from humble beginnings when locals from the Tabu and Teni clans in Angore PDL8 contributed from their own pockets to set up the T.T Angore Noa Hai Investment Limited as a small-medium enterprise(SME) business operator.
With no initial financial help from levels of Government or bank loans, the two clans used bush materials to build an accommodation facility in Kaloma to house staff and security for the PNG LNG Project.
After 10 years of operation, the Kaloma Base is providing this essential service with modern facilities built.
The landowner firm has now ventured into other businesses. This includes food catering, banking services, vehicle hire, office space rent, and conference venues.
T.T.A.N.H.I.L employs 48 full-time staff including casuals. Most are locals in the PDL 8 area.
Chairman Toria said the firm will continue to strive and compete with other business giants in the sector. He also thanked its shareholders who have maintained trust and confidence in the company’s board of directors and their good community relations with employees of the firm.
” I encourage you shareholders, and employees to continue the good work thus resulting in profit being made”, said Chairman Toria.
There to witness the dividend payout were representatives from Exxon Mobil, Bank South Pacific (BSP), and security forces engaged in the LNG Project.