Post PNG pays K500,000 dividend

POST PNG – post-delivery, logistics and transport State-owned entity – paid a K500,000 dividend to Kumul Consolidated Holdings in Port Moresby last week.
During presentation, the chairman of Post PNG, Maxwell Paiya, said the dividend  although not great was an indication of positive growth in a “very difficult operating environment”.
“Since 2006, postal services throughout the world have been in decline because of the self-defeating need for speed, Paiya said.
“Email, mobile phones and social media have revolutionised the way we communicate.
“You can now have a video call in real time with anyone anywhere in the world on your mobile phone.
“So why would you need to write a letter?
“That’s why, Post PNG as a business, has been under considerable pressure to change the way of doing business so that it can be viable and competitive in the industry.”
Paiya said major reforms were taken up to meet up the challenges in the advancement in information, communication and technology sector.
“Highly skilled and young managers have been recruited to take up management positions in the company. They are  providing advice to the board and direction to the entire workforce throughout the network,” Paiya said.
He said the company had also restructured its business and was moving away from its core and traditional business.
“That is the provision of postal services, to invest in other business ventures that we believe will bring in more revenue and profits for the State and among those include the conversion of its assets throughout the country into real estate, introduction an alternative money transfer service, rollout of post shops, developing e­commerce and a freight and cartage service.”