Restructuring gets Wamp Nga going

National, Normal

The National, Tuesday 16th April 2013


THE Wamp Nga Holdings Ltd has K4 million sitting in its bank account for the first time.

This does not include assets and properties owned by the company, a business arm of three local level government councils – Hagen rural, Anglimp and Nebilyer.

The credit resulted from a good turnover that came about as a result of two restructuring carried out at the management level under the leadership of Jim Maxwell, the chief executive officer during the past 18 months.

Maxwell, in a press conference yesterday, said the company was back on the right track and had further expanded its business activities.

He said the company was developing under the new structure and heading for partnerships with internationally recognised trucking companies.

He said results were derived as a result of the board of directors under Wai Rapa’s chairmanship having trust and confidence in the management to approve the restructuring at management level.

“When the shareholders of the company has trust and confidence in us, we can deliver what they want,” he said.

Maxwell said the company was no longer a sleeping giant.

He said today would mark a historical day for the people of Western Highlands as the company would open a new Hagen commercial operation.

He said the president and vice-president of Volvo and Renault trucks based in Denmark would launch the new centre.

Maxwell said Wamp would become the sole distributors of the two truck brands in PNG.

The company, the distributor of Western Star trucks, has sold more than 140 trucks in the past two years, Maxwell said. 

He said the company, in the past 18 months, sold more than 200 Renault trucks to trucking firms operating in the highlands region – Trans Wonderland and Mapai transport among them.

In Hagen alone the company had sold 10 trucks in the past six weeks, adding that Mt Hagen would become the main distribution centre for the company’s trucks.

Maxwell said Wamp now had K10 million worth of trucks to sell and had operations in Lae, Goroka, Wabag, Hides in Hela and Mt Hagen.

Plans are in place to expand businesses into Port Moresby, Maxwell said.