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It’s pleasing to have received a copy of the December edition of the Independent Public Business Corporation (IPBC) Review which among some interesting articles provides a snapshot on the performance of State Owned Enterprises.

The IPBC is a statutory body established to exercise on behalf of the Government, and for the benefit of the State, the trustee ownership of, overarching business management of, and provision of financial resources and services for, certain State assets, notably the corporatized entities known as the State Owned Enterprises, and to act as trustee of other certain prescribed trusts.

So which SOE’s performed well and which did not?  Firstly, each SOE operates in a different industry and comparing entities in different industries through financial figures alone can to an extent not provide a true picture.  Each has its own challenges and goals so do bear this in mind when looking at the results.

In any event here are the results provided in the review and we have entered percentage changes to give you an idea on whether the entities have improved in revenue and profit in comparison to the year before (2013).

SOE  Revenue 2013 2014 % Change Profit 2013 2014 Change
Air Niugini  1,200,000,000.00  866,400,000.00 -28% 29,500,000.00 –  37,800,000.00 -67,300,000.00 -228%
bmobile       67,200,000.00    36,000,000.00 -46% -120,000,000.00 -118,000,000.00 2,000,000.00 2%
PNG Dataco                        –                      – 0%     –         – 0%
Eda Ranu     115,500,000.00    87,700,000.00 -24% -1,700,000.00      4,100,000.00 5,800,000.00 341%
MVIL       90,800,000.00    27,900,000.00 -69% 27,100,000.00 –    2,900,000.00 -30,000,000.00 -111%
NDB       26,900,000.00    23,800,000.00 -12% 3,100,000.00      2,900,000.00 -200,000.00 -6%
NCPC                        –  US201100000 0%  US80,900,000 0%
PNG Power     811,800,000.00  615,700,000.00 -24% 41,700,000.00         200,000.00 -41,500,000.00 -100%
Telikom     325,100,000.00  233,700,000.00 -28% -35,200,000.00 –    8,600,000.00 26,600,000.00 76%
Water PNG       73,100,000.00    54,700,000.00 -25% 7,900,000.00      6,200,000.00 -1,700,000.00 -22%
Post PNG       54,000,000.00    37,700,000.00 -30%        100,000.00      4,800,000.00 4,700,000.00 4700%
PNG Ports     219,600,000.00  178,400,000.00 -19% 23,700,000.00    37,300,000.00 13,600,000.00 57%

From the above information, we can conclude the following:

2014 Highest revenue earner

1. Air Niugini
2. PNG Power
3. Telikom

2014 Lowest revenue earner

1. National Development Bank
2. MVIL
3. bemobile

2014 Highest Profit

1. NCPC
2. PNG Ports
3. Water PNG

2014 Highest loss

1. bemobile
2. Air Niugini
3. Telikom

Most improved

1. Post PNG
2. PNG Ports
3. bemobile

2014 Least improvedd

1. Air Niugini
2. MVIL
3. PNG Power

 

 

 

 

 

 

 

 

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