Company comes of age

By Franco Nebas

“Our company is very unique in that we proposed to build a sound financial position and translate this into development investment for our shareholders instead of traditional business dealings of dividends distribution.

“This is the reason we are very unique in Papua New Guinea.”


Those were the words of the Executive Director of newly established
Muarutzan Investment Limited Mr David Iriap during the launching of the company at Marafau village, Umi –Atzera LLG last Friday.

Mr Iriap said to reinforce this goal, the shareholders had injected over K200, 000 to establish the company.

 

"Today, we see that first asset at hand; a truck purchased at the total cost ofK100, 000 from Boroko Motors.

The second asset of the company which will be run out to serve the shareholders in a few weeks is a new Coaster Bus purchased at the price of K153, 000, “he said.

He assured shareholders that the acquisition of the fleet was to complement the company’s major operations in food production and marketing.

“It is intended to provide logistical support to our major operations, we foresee that our major intent of operations would be in high demand for logistic and we have made this decision with precision,” Mr Iriap said.

He said the company would be presenting a profile to Prime Minister Mr O’Neil of their achievement to date.

“The company is not after money but services and we proclaim to achieve this through mutual partnership and pooling of our resources together,” he said.

He also announced that an international partner was willing to provide assistance for some of the company’s civic programmes through networking and personnel experience.

“We also propose to build a central food facility here in Markham by next year at the projected cost of K500, 000, “said Mr Iriap.