Ok Tedi landowner board members learn their roles as responsible directors

Papua

A successful landowner trust company can operate effectively with good governance processes and procedures and it is imperative that directors are aware of their obligations and responsibilities when discharging their duties, chief executive of Star Mountains Group of Companies Aubrey DeSouza says.
Speaking at the directors training which coincided with the quarterly board meeting in Port Moresby on Thursday, DeSouza said Star Mountains Group was a subsidiary of the Ok Tedi Landowners Royalty Investment Trust, with properties and capital investments in Australia and PNG.
Before the board meeting members representing Ok Tedi landowners were taken through the importance of their role as directors and when and how to interact with the management.
Training was conducted by Des Blake, general manager of CC Pacific.
Board director and participant John Wanim said it was the first time for him to learn about the actual roles and responsibilities of directors.
He said he had thought being a director was only to attend meetings and collect allowances but after attending the training, he learnt and understood the meaning of being a company board director.
Deputy chairman Patrick Buleng thanked training facilitators CC Pacific Ltd, an international HR firm with offices in Port Moresby and Australia.
“We need more of these training to help us with the right knowledge and skills to manage assets and investments worth millions of kina,” he said.
Buleng said it was the first training for board members and management of Ok Tedi landowners since 1969 when the trust was established.
Former Chairman of Ok Tedi Landowners Royalty Investment Trust Henry Asekim said training gave the directors new skills and knowledge.
“I am happy to see the trust growing from strength to strength and with such training, our directors can now make informed decisions,” he said.
Akesim encouraged other resource landowners’ trust companies to do the same so the landowners in the village know how much their investments were worth and how they were being taken care of.

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