Ian Tarutia

nasfund appoints PNG'eans to investment role

Judah Waffi is formerly the funds Chief Investment Officer and has over 14 years’ experience in Investment Advisory, having worked with the Bank of Papua New Guinea, BSP Capital, PNG Ports, MRL and National Airports Corporation. Fiona Nelson is formerly the Vice President of Oil Search Asset Strategy and has with her over 15 years’ experience in financial economics, public policy, and portfolio management. She previously worked as Head of Investment, Portfolio Management with PacWealth Capital and as Portfolio Manager with Kumul Consolidated Holdings. Ms.

NCSL launches new logo

The rebranding comes 17 years since the company’s establishment, becoming the largest savings & loans organization in the country.

After 17 years the original ncsl logo and brand was retired signifying the end of an era continued growth.

Chief Executive Officer, Vari Lahui, said the rebranding suits the changing times.

“Tonight, ladies and gentlemen, we will be witnessing the change of our corporate logo, adding a more modern touch to our brand. And given all we have done over the years; we feel that it needs a refreshing look.

NCSL launches new logo

The rebranding comes 17 years since the company’s establishment, becoming the largest savings & loans organization in the country.

After 17 years the original ncsl logo and brand was retired signifying the end of an era continued growth.

Chief Executive Officer, Vari Lahui, said the rebranding suits the changing times.

“Tonight, ladies and gentlemen, we will be witnessing the change of our corporate logo, adding a more modern touch to our brand. And given all we have done over the years; we feel that it needs a refreshing look.

New NCSL loan policy to target SME’s

This was announced by NCSL Board Chairman, Ian Tarutia, during the company’s 5th Annual General Meeting in Port Moresby.

The new lending products follows the approval of the revised loan policy and risk credit facility by the NCSL Board in June.

During the 5th AGM in Port Moresby Ian Tarutia announced the Boards approval to revise the current loan policy and risk credit facility.

The revised policy is now before the Bank of PNG.

NASFUND accepts Link PNG offer

In a statement, NASFUND says the decision by the Board of Directors to accept the offer is a purely commercial decision and is in the best interest of the Fund and its members.

NASFUND holds 39.29% of the total shares on issue and is the largest institutional investor in PNG Air.

Since 2008 NASFUND has invested in PNG Air K76 million, comprising of K31 million in equity and K45 million as a loan provided to PNG Air as part of rescue packages given between 2016 and 2017 by the major shareholders.

NASFUND unveils new logo

The rebranding was launched in Port Moresby last night.

18 years since its last rebranding, NASFUND unveiled a new look and tagline.

CEO, Ian Tarutia, highlighted the significance.

“The new logo signifies progress and change, and a desire to continuously improve. And I think more importantly it reflects the future of the fund and where we want it to be. And the tagline that it has, and Directors you chose it, its preparation for tomorrow, getting ready for tomorrow,” said Tarutia.

NASFUND & IPA sign MOU

The MOU was signed today by NASFUND CEO Ian Tarutia, and IPA Managing Director, Clarence Hoot.

NASFUND is the first private sector agency to sign an MOU with the IPA , that enables the Fund to have a permanent presence at the IPA’s registration Kiosk.

Through the MOU, both organizations will share relevant employer database information, that can be used to ensure that companies who register with IPA also sign-up to superannuation, for the benefit of their employees.

The MOU also allows NASFUND to share employer data through IPA offices throughout the country.

NASFUND announces crediting rate

This followed acceptance of the 2019 audited accounts by the NASFUND Board at its meeting held on Thursday morning, 27th February 2020.

Chairman Charles Vee, on behalf of the Board stated that the results were positive in yet another challenging year. Chairman Vee said the Fund had demonstrated a strong resilience in attaining a positive outcome with an over budgeted performance in cash returns from investments and controlled expenses.

Infrastructure bill still in court: NASFUND

Speaking at the recent 2019 Employers Conference, Tarutia said while the fund recouped some of the money, there is still a legal battle.

“We recovered K56 million of the unspent portion of the K125 million investment and we are now in court versus the state to recover the balance,” said Tarutia.

The SCITB agreement was made between the fund and the state in 2011.

The SCITB was to be used for financing infrastructural developments in Kokopo, East New Britain Province.

Tarutia confident institute work to continue

Tarutia said this following the election of Anthony Yauieb as President.

The outgoing President hands over the reins to Yauieb after a four year tenure.

Two key initiatives highlighted under Tarutia’s Presidency include a strategic partnership with BPNG and UPNG to rollout a Graduate Diploma in Governance and headwork into director’s legislation as a key lever to lift the stature of, and institutionalize PNGID’s work on improving governance standards of private and public sector boards.