Centre launches magazine on PNG owned companies

THE IBBM Enterprise Centre has achieved yet another milestone with the launch of the 2011 Assessment Magazine on PNG Owned Companies.

This second edition contains profiles of PNG companies that have been assessed by the Enterprise Centre.

The outcome of the business assessment conducted by the Enterprise Centre is three-star rating of PNG companies by mapping them against global best practices.

The assessments covered eight criteria including organisation and governance, business management, quality control, financial management, asset and inventory management, HR management, safety, health and environment, reputation and image.

These were all evaluated against global best practices established in association with Esso Highlands Ltd (EHL), the operator of the PNG LNG project.

In two years, the Enterprise Centre had conducted 167 independent assessments.

The magazine was launched at Gateway Hotel on July 4.

The celebration was officiated by Pedro Martinez, EHL Systems completion manager,and Vishnu Mohan, IBBM chairman and chief executive officer of ANZ.

Representatives from assessed businesses attended.

The Enterprise Centre is an initiative of EHL and the PNG LNG project

‘It opened in 2010 and moved into its new custom built premises at ToRobert Centre in 2011.

It is an integral component of the PNG LNG project’s programme to assist in the development and growth of local businesses.

It provides:

 A PNG LNG project information centre;

 PNG supplier database with more than 1,500 PNG suppliers;

 Supplier dashboard with project business opportunities;

 Project workshops, seminars and special events; and

A key part of the programme is to carry out assessments of PNG businesses and landowner companies to evanuate their current systems and practices, produce a gap analysis and chart and develop business improvement plans," IBBM executive director Sweta Sud said.

"The feedback received from the assessed companies has been extremely positive and companies are generally delighted that they have been given the opportunity of a ‘health check’, courtesy of Enterprise Centre assessments.

"This is particularly so, because many of them are in their infancy and needing guidance as to how they can grow and prosper and avoid the pitfalls that befall many small and well-intentioned businesses.

"The Enterprise Centre has also provided over 5, 000 days of training and over 750 advisory days to PNG LNG landowners and businesses.

"The project information centre has served over 12, 000 visitors and guests seeking information since its opening." 

Business training, advisory and mentoring services to lancos and PNG companies.