In a low key signing ceremony this week, Governors for Hela Hon. Philip Undialu, Western Hon. Taboi Awi Yoto, Southern Highlands Hon. William Powi, Gulf Hon. Chris Haiveta and Central Hon. Robert Agarobe signed to establish the company Kroton Equity Holdings Ltd (KEHL). The ceremony witnessed by the MD of Kumul Petroleum Holdings Ltd, Mr. Wapu Sonk,.
Kroton Equity Holdings Ltd (KEHL) will be the first and biggest ever Private Equity Company in PNG. KEHL will be owned by the five Provincial Governments (Hela, SHP, Gulf, Western and Central) and the landowners of PNGLNG Project. KEHL will hold 4.27% of the PNGLNG project interest.
The Governor’s visions are to see KEHL become a key player in the country and regionally in the private equity and financial sector with sound corporate structure and investment policies.
They have appealed to Prime Minister Hon. James Marape to free up any attachment with State nominees like KPHL and MRDC and be independent to any political interference, which will allow for competent professionals and organisations engage to establish and manage the company.