Landowner firm gets top marks for best business practices

Business, Normal

The National, Friday, June 3rd 2011

A LANDOWNER company from the PNG LNG project area has outperformed more than 100 other landowner companies by scoring the highest star ratings of 2.9,  just 0.1 short of a 3-star for best business practices.
The highest rating ever for TC Hides 4 Joint Venture (TCH4JV) a company owned by Gigira Hides 4 Joint Venture, a landowners company owned by six block companies from the Hides 4 PDL7 and Total Cleaning Services, also a local company was announced yesterday by Enterprise Centre (EC).
EC lead assessor  William Kep said TCH4JV had done exceptionally well in all aspects of business practices.
Kep said among hundreds of landowner companies including some reputable and large businesses which EC had so far assessed, TCH4JV topped the star-rating.
He said compared to other landowners companies; they were no way near to TCH4JV.
Kep said: “Most of them  are below two or even  zero ratings.”
He said it was not an easy task to assess against set criteria and one thing that stood out in the assessment was the good corporate image and accountability, transparency and non-interference by the board with the business operations.
John Solok, EC business adviser told the board of directors of the company that the rating was a platform to build and improve on.
He said there was no guarantee to secure any contract with the LNG project but such a rating was ExxonMobil’s standard business practices and it would be considerable when they present the assessment report to the project operator.
Meanwhile, a jubilant chairman Willie Ayule said his late brother, Erick, had been fighting for contracts within Hides 4 and such a rating would put his company on equal footings with rest of the landowners companies.
“I am hopeful that ExxonMobil, through its EPC contractors, would give us a contract as our the reports speaks volume for its self.”