Lanco paid K4m dividends

Business, Normal

The National, Friday November 1st, 2013

 A LANDOWNER umbrella company in Morobe has has paid K4 million in dividends to three shareholders after five years in business, NKW Holding Ltd chief executive Marlen Brunskill said.

Speaking during the presentation of last year’s dividends in Lae recently, Brunskill said the payment was the positive result of the company’s strategic business decisions.

He said the K4 million were paid in less than six years of operations.

For the last financial year, NKW Holding paid K2.1 million to

Nauti Investments Ltd (NIL), Kwembu Investments Ltd (KIL) and Winima Investments Ltd (WIL).  

Each shareholder received K720,000.

The three companies represented the three landowner villages of the Hidden Valley Gold project, namely Nauti, Kwembu and Winima.

Brunskill said: “It (the business) was a remarkable five years after becoming fully operational in 2007.

“This is an achievement that is quite rare for landowner businesses in PNG as it was the result of a strategic five-year business plan, which was focused on sound investment.

“It also showed the positive growth with strong management and a vision to make a difference since the start,” he said.