Ifira Port Development Services hands dividend to the government

The Ifira Ports Development and Services company handed over a VT8 million dividend to the Vanuatu Government this week.

The company Co Limited has also given dividends to the 31 families of Ifira Island who are shareholders in the company.

The chairman of the company, Chief Teriki Paunimanu Mantoi Kalsakau 111, says since 2014 Ifira Ports and Development and Services Group has been providing dividends for its shareholders.

Chief Kalsakau says, since 2014, the company has produced dividends totalling around VT185 million.

“From that amount, over VT90 million has been given to the government which has a 49 per cent share of the company,” he said.

“And over VT94 million has gone to the Ifira trustees who hold a 51 per cent share [of the company].”

The dividend was provided to the Prime Minister Bob Loughman, Deputy Prime Minister Ishmael Kalsakau and the Minister of Finance, Johnny Koanapo as government representatives.

Prime Minister, Bob Loughman, said he was proud that despite the challenges of COVID-19, Ifira Ports Development Services has been able to produce a profit and provide a dividend to the government.

The Prime Minister said the government would like to see other publicly owned companies such as Northern Islands Stevedoring Company Limited (NISCOL) Port Services and other inter-island wharf services to perform as well as the Ifira Group.

“I encourage the management of this company to maintain good governance at all times,” Prime Minister Loughman said.

Deputy Prime Minister and the Minister of Internal Affairs, Ismael Kalsakau, received two dividends that Ifira Ports and Development Services had provided to the Port Vila Municipal Council, Shefa Province and Tafea Province.

The Ifira Port and Development Service company Co Limited has also given dividends to the 31 families of Ifira Island which are also shareholders to the company.

In December 2019, the Daily Post reported that Ifira Ports Development and Services paid a VT12.2 to the government and the full dividend for the 2019 financial year totalled VT25 million.

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