Clan members told to work together to grow business

The National Business

By EREBIRI ZURENUOC
LAE MP John Rosso has urged the Ahi people of Lae to work together to see progress of landowner company Ahi Investment Ltd (AIL) and its subsidiaries.
He said this during the presentation and launching of K1.7 million dividend payments in the form of six Toyota Coaster buses, six fully-kitted portable offices, and K20,000 donations to each of the six village associations last Wednesday.
The company represents six villages of Ahi: Butibum, Kamkumung, Yanga, Yalu, Wangang and Hengali. Rosso said unity was important in keeping the company running for the long-term, especially for the good of the future Ahi children.
“This is an opportunity for the six villages to walk together,” he said.
“We have lost our land, and we must work to achieve something.
“The buses can be used to make money and to expand the investments.
“The biggest thing we should be grateful for is the good management that the board and management of AIL has provided. I’d like to thank the chairman and the board and management of Ahi Investment.
“It is because of their sound fiscal management that we are seeing the results.
“People have their dividends and this is a very good example of how a landowner company should be run. I am very proud to see the success of this landowner company.”
AIL has four subsidiaries: Coastal Retail Services Ltd (100 per cent ownership), Riback Stevedoring Ltd (51 per cent ownership), Ahi Properties Ltd (100 per cent ownership) and South Pacific International Container Terminal Ltd (15 per cent shareholding).
Chairman George Gware said the total dividend declared by AIL and paid out to Ahi Prudential Development Ltd this year was K1.7 million.
“The amount was used to purchase six buses, provide K20,000 seed capital for six villages, and also an office for six village associations.
“The dividend is basically profits from all the subsidiary companies that AIL is involved in.
“The profits from those businesses come to AIL and we channel it into the trust company.”