Markham LLG rediscovers shares in Pacific Balanced Fund
The Markham LLG purchased shares in Pacific Balanced Fund (PBF – formerly Investment Corporation Fund of PNG) back in 1974; the group received their last dividend payment in 1998. Since then, it has been over 15 years since its units were held in trust by MTSL, now known as the Markham District Development Authority (MDDA), the largest unverified unit holder of PBF had their records updated last week at the fund administration office in Port Moresby. The District Authority is made up of 3 local level governments representing Umi/Atzera, Leron/Wantoat and Onga /Waffa.
Mr. Wanu Waikisa Winny a teacher from Markham Valley Secondary school liaised between the Fund and the district authority to have their shares verified and records updated. National Parliament Member for Markham Koni Iguan who is also the Chairman of the MDDA and Public Accounts Committee was present with district representatives to receive their share certificate from Ms. Philina Lukas – PBF Trading Executive.
MTSL CEO Lawrence Stephens said “We were trying to update our records of Markham LLG and thanks to Mr. Winny we have finally completed the task. MTSL continues to seek our unit holders of the Pacific Balanced Fund (previously Investment Corporation) once identified and verified unit holders receive any outstanding dividends declared from 2003 – 2016.”