Business group executives query dividend spending

 NEW executives of the Sai Business Group in Bulolo and Menyamya, Morobe, have been urged to explain how K332,000 dividends released by Mainland Holdings Ltd was spent.

Council presidents Jackty Yotipo (Kapao) and Isaac Aaron (Wapi) asked chairman Menos Akris and his executives to appear before the shareholders to account for their expenditure.

The call was supported by Watut leaders Mauri Mita and Barnabas Aveo.

Attempts to contact Akris for comment were unsuccessful yesterday. Instead, a family member told The National that Akris had disappeared and his family was searching for him. Sai Business Group shareholders comprised of coffee farmers in Bulolo, Watut, Aseki and Menyamya that owned 60 per cent of MHL apart from Nawaeb, Kabwum and Finschhafen farmers.

“We urge Bank South Pacific and MHL to cease any more withdrawal and payments until Akris and executives appear and justify to 2500 shareholders how the money was withdrawn and spent,” Yopito said.

“The dividend money belongs to local farmers who sweat their efforts to sleep under coffee trees daily and Akris needs to share the pain and struggles small people endure to speak the truth to the people.”

Aveo said that people had confidence and trust in Akris and the executives by bestowing them leadership to work together with MHL, provincial, district and LLG governments.

“I am concerned how people’s money is accessed or spent and must be justified in meetings to ensure transparency and accountability prevails” Aveo said.