Companies establish partnership to expand

WABUNAWA Holdings Ltd’s (WHL) establishment in Lae has given confidence to Mainland Holdings Ltd (MHL) to offer them contract work to participate in business.
MHL Group human resource manager Elijah Monope said WHL’s revival and determination to secure an office in Lae made MHL willing to offer first contract work to the landowner company.
WHL from interior Wantoat in Markham, Morobe, has 350 shareholders but operated in isolation due to poor roads incurring high costs impacting its coffee-buying, trade store and transport businesses.
Sai Business Group (SBG) Inc offered WHL office space at its Five-Mile property.
WHL chairman Nowarowe Yambat said the office with equipment opened on Friday gave them business confidence to serve 350 shareholders without uncertainty.
WHL and SBG are two among the 15 MHL shareholders established as cooperative groups since 1966.
“We’ve struggled as Morobe’s pioneer cooperative groups since 1966 together with other 13 cooperatives without funding support from Morobe provincial government,” Yambat said.
“Some of our groups like FMDC (Finschhafen Marketing Development Cooperative) and Bukop sold out their shares but we still maintain our indigenous shareholder presence with MHL,” he said.
The management issue within WHL resulted in a court battle in 2000 that spanned nine years and adversely affected its assets and operations.
“We’ve been affected by internal management issues through courts, including shareholder matters,” Yambat said.
He said the matter was addressed in court with a ruling on Sept 9 allowing the shareholders re-establish itself.
MHL director and SBG Ltd chairman Menos Ackrish welcomed WHL when offering them office space.
“It’s a great honour to help WHL and giving them an office space because historically, when SBG faced difficulties, WHL stood behind us and today, we will stand united as brothers to pursue business interests of our shareholders,” Ackrish said.