Monday 01st July, 2019 – Port Moresby: Kumul Consolidated Holdings (KCH), in collaboration with the Australia Institute of Company Directors (AICD) and PNG Institute of Directors (PNGID), have organised a comprehensive Director Development Program for board members of all nine State Owned Enterprises (SOE).
The 5-day International Company Directors Course last week provided delegates with a comprehensive program of learning across board elements including corporate governance, financial literacy, risk, strategy, the international legal environment, duties and responsibilities of boards in the international context.
KCH says in this diverse environment, with a need to deliver competent, reliable, affordable services, whilst ensuring SOEs strive toward a return on investment to the state, it is vital to ensure directors have a thorough understanding of all relevant factors affecting the performance of these companies and duty of core. The International Company Directors Course provides an accredited benchmark competency level to a very high standard.
KCH Managing Director Darren Young, stated that all SOE Directors must have the qualifications and experiences to provide governance and direction for our state owned assets.
He said; “We need SOEs to consistently perform, to provide affordable, reliable services and to deliver dividends from profits. We need these businesses to be sustainable and to competently provide our people with power, water, transport, financial services and communications. We want to ensure that our Directors’ competencies are equivalent to those of regional and international companies of a similar size and scale. The SOEs are critical to social and economic development across the country – therefore leadership competency and credibility of the SOEs is an appropriate investment.”