WE can have all the money, cargo and wealth but above all, actually making this happen is very important.
In some cases, making things happen is more important than having resources.
This is true for Mineral Resources Development Company (MRDC) managing director Augustine Mano who has basically changed the financial and investments value of MRDC to what it is today.
MRDC investment portfolios have grown steadily from a mere rent collector and rent distributor to an investment house of the landowners and the Government.
It is pleasing to see Mano being appointed to the role of interim chairman for PNG’s third level airline, PNG Air. With his wealth of experience, network and business innovations, we can see some light coming into our airliner, PNG Air.
If you study investment patterns of MRDC with Mano at the helm, the company is diversifying into future growth areas of the economy.
He started off with property investments both onshore and offshore.
Property investments were more of a stepping stone, so it had a strong balance sheet both in terms of liquid cash and property value.
He then moved away to other growth areas, power generation and airline industry.
Power generation is one area Mano was so passionate to venture into.
He says the landowners could own the upstream gas and oil resources and should equally own the downstream by-products such as power generation.
Mano said the landowners needed to grow Dirio power and that made a lot of sense.
Finally, Mano recalled the Talair days in PNG.
Talair was owned by Dennis Borgnan, operating out of its headquarters in Goroka, Eastern Highlands.
Talair was the biggest third level airline flying the skies of PNG.
I wouldn’t be surprised if PNG Air flies the skies of PNG as a major third level airline with MRDC flag on its fleet of aircraft.
Yapi Akore, Kundiawa