The National-Tuesday, 25th October 2011
GOBE landowners in the Southern Highlands have called on Philip Kende to resign as chairman of Petroleum Resource Gobe Ltd because of his poor investment decisions.
Jeffery Kairi, a Gobe project landowner leader, said this in response to a statement by
Kende backing the
suspension of the managing director and chief executive officer of Mineral Resource Corporation for the 4-Mile Casino Hotel investment.
Kairi said people with ulterior motives should not blame others to cover up their wrong-doing for poor investment decision.
“Kende was jetting off to South Korea, Philippines and wherever else on some purported business trips which has not yielded any tangible return to improve the
bottom line of Petroleum Resources Gobe Ltd.
“The casino project resulted from one of these trips well before Mano took up the reins at MRDC.
“On the strength of his own admission that the casino is a dump project, Kende has terminated himself as the chairman of Petroleum Resources Gobe Ltd.
“This is on the grounds that he was the one who made the commitment to involve PRG in the project by making the initial K5 million investment of the people’s money in the project,” he said.
Kairi said Kende had been occupying the position of PRG chairman by default for not having the GLC leadership election conducted on the second anniversary of the signing of the MoA.
“There can be no argument over lack of money if he could find the money to hire two corporate boxes at the Suncorp Stadium in Brisbane
and fly down the PRG board and friends to watch a State of
Origin Match in 2001,” he said.
He said a KPMG audit report in 2003
indicated more indiscretions committed by Kende such as drawing advances in
thousands of kina including K10,000, on Dec 14, 2000 but still continued to be paid directors fees.
“There is nothing wrong with being paid something to sustain oneself but it must be approved and transparent.
“Kende has failed his people miserably and he is the one that has to go instead of him calling
on other people, who
are on balance doing their level best and tangibly adding value to the company to exist,” Kairi said.