• PNG Business News

State-Owned Entities Valued at K10 Billion

Compared with the revenue of K2.86 billion generated yearly, state-owned entities (SOEs) are valued at around K10 billion.

According to Isikeli Taureka, the managing director of Kumul Consolidated Holdings Ltd, this amount shows that SOEs are not doing well in coming up with revenues.

“Our value of the portfolio is K4.4 billion and in terms of dividends last year we received about K95.8 million,” Taureka said. “K2.86 billion is the actual revenue.”

Among the major revenue earners were the following: PNG Power, Telikom, Air Niugini, and Ports PNG, although only Air Niugini was badly affected by the pandemic and the others were not.

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