Photo credit: Papua New Guinea Today
Kumul Consolidated Holdings (KCH) has paid dividends to the State after 7- years.
The country's Minister for State Enterprise William Duma officially handed over a cheque of K80 Million Kina to Treasurer Ian Ling-Stuckey and Prime Minister James Marape this week.
The dividend amount from all state-owned companies bypasses the executive government projected estimates by K60 million.
The conference room at the Manasupe Building was packed with board and executive management of State Owned Companies, to witness, long overdue dividend payments to the state.
The last combined dividend payment by Kumul Consolidated Holdings was in 2015.
State Enterprise Minister William Duma before handing over a dummy cheque worth K80 million praised Prime Minister James Marape for reforms introduced when taking office in 2019.
Treasurer Ian Ling-Stuckey praised the state business arm for exceeding the government's projected estimates of K20 Million.
Reference: Papua New Guinea Today (11 November 2022). “PNG's KCH pays K80 Million Dividend to the State after 7 years”.
