Sinamoi is chairman of Credit Corp

RICHARD Sinamoi has been appointed chairman of the Credit Corporation PNG board.
The board had appointed him interim chairman at last month’s annual general meeting.
“There has been an orderly transition to new leadership and the new board is stable and strongly aligned in our thinking,” Sinamoi said.
He said it was a privilege to be chairman of Credit Corporation “at such a pivotal time for the group and the financial services industry”.
“Throughout this challenging period due to the Covid-19 pandemic, maintaining our balance sheet strength and supporting our small medium enterprise customers in the Pacific have been key strategic priorities,” he said.
“Our customers have generally displayed a high degree of resilience throughout this period.
“However, some continue to be challenged by restrictions and changes to consumer behaviour.
“As a director, I have been fortunate to have worked with the current board members in helping to contribute to Credit Corporation successive results over the years.”
Sinamoi acknowledged the outgoing chairman Syd Yates and welcomed newly-elected directors Stephen Humphries and Sir Melchior Togolo.
“I look forward to my ongoing work with the board, management and the entire Credit Corporation team to continue our mission to support SMEs (small to medium enterprises) throughout the Pacific with their financial needs.
“The board is currently working with our interim CEO Danny Robinson and chief financial officer Jeff Undah as we undertake a review of the group’s strategy to ensure we are well-positioned to seize the opportunities presented as we transition out of the Covid-19 pandemic.”