Pacific Equities turns 9

Business, Normal

The National- Thursday, February 3, 2011

 LOCALLY-owned company Pacific Equities Investment Ltd (PEIL) celebrated its 9th anniversary on Tuesday, marking a milestone for the company.

Board chairman and chief executive officer John Ruimb congratulated long-serving staff while also highlighting the challenges the company had faced over the past five years.

He said PEIL has grown from humble beginnings in 2002 to a company that boasts a total of six subsidiary companies.

“God has continued to sustain us in our operations especially through the difficult and challenging times. 

“Since registering with Investment Promotion Authority in August 2001 and commencing operations in February of the following year in,  the company has expanded to employ at least 45 local staff,” Ruimb said.

Ruimb stressed PEIL would not exist had it not been for the vision of seven staff from the now defunct Investment Corp of PNG who invested in the company through their retrenchment packages.

The anniversary was also marked by the transfer of two long-serving staff members of PEIL to subsidiary finance firm Gearing Pacific Ltd.

He said although the company continued to face a lot of challenges, it was evident they would be used to fine-tune the company, thus making it better and eventually make its staff better workers.

Ruimb assured its staff that the company, would continue to grow through its subsidiary companies.