SINPF Greatest Gift to Malaita Province “Major facelift in Auki Town”
Its 26th of October 2021 at Malaita Provincial Headquarter Auki, the day that went down to the history books, that the only Superannuation Fund in the country known as the ‘ Solomon Islands National Provident Fund Board’ open its first substantial investment of members funds in Malaita Province for their retirement and old age.
SINPF Board first greatest gift to Malaita Province is Fund’s New Property Investment. The “SINPF Auki Our Telekom Haus” the second one will be the Iconic NPF Plaza. Such robust investment is a clear testament in recognition of the founder of SINPF and Malaita son Anthony Saru for his dream and vision that lingers on.
According to SINPF Board Deputy Chairman David Rupokets it is a very significant investment journey of the SINPF Board in marking. This is now the 3rd provincial capital outside of Honiara we have invested our members fund in. The only other provincial centers we have invested in include Solomon Tuna cannery at Noro, Western Province and property investments in Tulagi, Central Islands Province.
The investment in this new building is part of a previous strategic decision that the Solomon Telekom Board took that the cash flow they have will be used only for the core business of the company and office buildings to be built by its shareholder. Today is the realization of that strategic decision.
The Board has invested up to $15 million from the acquisition of the land to designing and the construction of this magnificent building that will shortly be formally handed over to us by our contracted builder TGB Builders.
SINPF Board hails the Managing Director of TGB Builders Mr Justin Fuoo and his company for an outstanding workmanship and our Project Manager Kramer Ausenco for successfully delivering this magnificent building to us today. We are all proud of their work in the successful completion of an excellent building that will provide a good facelift to our provincial capital, Auki. Today we have with us Mr. Justin Fuoo a son of Malaita and a son of Solomon Islands and Mr. Daniel Tucker of Kramer.
SINPF Board also commends the Malaita Provincial Executive Government and Malaita Province Town and Country Planning Board for their support and guidance since approval was given to construct this building since 2018.
Malaita Provincial Government was impressed to allow SINPF Board to invest in Malaita.
The architecture structure and standard of the building attracts Winrock signature for choosing to lease part of the property. SINPF know your work in the Province will be an exciting one as you invest with the government of Malaita Province and its people to grow the economy of the province.
Malaita is the largest province in terms of population and we are now positioning the Fund in terms of improving our ability to consider potential future investment in the Province. I would like to inform you that following this investment we will be looking at the feasibility to develop our second commercial property, the former Auki Plaza into our new commercial flagship in the Province. This is the property previously owned by the Malaita Provincial Government.
This will be an exciting investment as the Malaita province economy continues to grow and the potential to expand further with the various infrastructure investments that are planned for the province.
The completion and the handing over of the Investment Property to SINPF Board marks another milestone for Tropic Group Builders Ltd in Malaita Province.
This is a true testament of who TGB is here in Solomon Islands despite the Global pandemic and climate change setbacks we remains committed steadfast, resilience to deliver this fine product for our client SINPF and its members.