PNG Ports hailed for being profitable

STATE Enterprises Minister William Duma has praised PNG Ports Corporation Ltd (PNG Ports) for remaining relevant and being profitable despite the Covid-19 pandemic.
He said PNG Ports was the only State-owned enterprise (SOE) that had consistently been profitable.
“Year in, year out, PNG Ports has been profitable and paid its dividends,” he said.
“Notwithstanding challenges and the Covid-19, PNG Ports has continued to remain relevant.”
Duma said PNG Ports announced a profit of K84 million in 2019, while K81 million was declared last year, as other SOEs were affected by the Covid-19.
“This all goes back to the great management and the tremendous team effort from the staff of PNG Ports,” he said.
“Your hard work has resulted in the steady dividends coming from PNG Ports and I commend you all.
“I look forward to working with this kind of management, going forward.”
Duma was speaking recently during the christening of a new pilot boat at the Motukea International port outside Port Moresby.
The pilot boat, christened mv Siabo, was the first of five customised pilot boats for PNG Ports bought at about AU$2.2 million (K6mil) each.