Air Niugini, Kumul Telikom Holdings and PNG Power Ltd top performers in 2018
Air Niugini (ANL), Kumul Telikom Holdings and PNG Power Ltd were the top performing State Owned Entities (SOEs) in 2018 in terms of revenue earned.
Kumul Consolidated Holdings made this known in a statement where it declared to present a K80 million dividend to the State.
According to KCH during the first quarter of 2019 ANL – the national flag carrier declared a net profit of K2.2 million compared to the same period last year where it posted a loss of K35.9 million. For the periods 2017-2018 including first quarter 2019, ANL made revenue of K263 million, an increase from the corresponding period.
The shareholding of State Owned Enterprises is held in the General Business Trust managed by KCH – the Papua New Guinea Government’s trustee shareholder in the state-owned enterprises.