THE Malaita Province Government has reestablished its business arm under the name Malaita Holding Limited (MHL).
Malaita Province Premier Martin Fini in his 2023 -2024 Revise Budget speech said his government has reformed Malaita Development Authourity and will be renamed as Malaita Holding Limited (MHL).
“My government has approved to repeal its former ordinance and had amended the ordinance to cater for the new MHL.”
“The five regions of Malaita shall have shares in MHL. The five regions are Northern, Southern, Eastern, Central and Malaita Outer Islands.
“We have reformed the investment arm to allow its freedom to operate separately without political influences.
“It shall have its own board of directors and shareholders. To ensure trust and confidence, shares will be given to legitimate institutions such as NPF and other recognised financial institutions purposely to share risks and maintain integrity in the performance of this institution,” Premier Fini said.
Premier Fini added that in the past the MDA was entirely controlled by the Malaita Provincial Government and there was too much of political influences over its operation.
He said this new business arm strategy is to retain much of the profit within Malaita and increase money supply in its five regions.
By SOLOMON LOFANA
Solomon Star, Auki
