Focus on potential investments in Morobe, Western H’lands

AS part of Nambawan Super Ltd’s investment strategy, it is looking at two provinces to make building investments.
Board chairman Anthony Smare said they were eyeing Morobe and Western Highlands as the next area to invest in.
“We are looking at opportunities and we will be making
market feasibility to see where those two centres are going and how the investment that we
make impact those centres,” he said.
“We know that there is a lot of money going through Mt Hagen (Western Highlands).
“It’s probably the third biggest business centre in the Pacific as a whole.
“It needs someone like us to look at these investments because other big investors might be too worried about the risk.
“There is a whole lot of factors that we need to take into account, there’s Hagen and there’s Lae (Morobe).”
Smare said being a fund owned by members who were present in communities would reduce the risk on their building and property investments.
He said they were already in those centres through other investments such owning shares from Bank South Pacific and other corporations.
“We are one of the largest shareholders in Bank South Pacific (BSP),” Smare said.
“BSP has branches and gives out a lot of loans in those areas.
“We also own Paradise Foods.
“But we need to keep exposure on the building and property part of our portfolio.
“It’s not a big part of our portfolio but it’s what our members can look and see and feel.”
Smare said they were also looking at a possible expansion of the Gazelle Hotel in Kokopo, East New Britain, which they owned in
partnership with the East New Britain government and Lihir landowners.