Vanuatu Government ‘Defies’ Other NISCOL Shareholders

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Vanuatu Government ‘Defies’ Other NISCOL Shareholders Provincial shareholders decry state-appointed administrators

By Ricky Binihi and Len Garae

PORT VILA, Vanuatu (Vanuatu Daily Post, April 30, 2013) – Some things never change, even with a government that has only 10 percent of total shares in Vanuatu’s Northern Island Stevedoring Company Limited (NISCOL) and makes widespread promises to tackle nepotism and corruption.

Ninety percent of the NISCOL shareholders told the government that according to the amended NISCOL articles of association it could not appoint members to the NISCOL Board of Directors.

The government could only appoint a member of the NISCOL Board but that name has to be screened and approved by the Shareholders of NISCOL that include TORBA 10%, SANMA 30%, Luganville 10%, PENAMA 20% and MALAMPA 20%.

However the Daily Post was told yesterday the people appointed by the government to head NISCOL convened a meeting as Board of Directors on Thursday and appointed the new NISCOL CEO.

Meanwhile shareholders say the meeting had no legal standing because the guidelines and procedures of how to appoint NISCOL Board of Directors in accordance with the provisions of the articles of association was not adhered to.

The post of CEO must be advertised and anyone appointed into the Board and the Secretariat must have some merit and the proposed candidates must be screened by the Financial Services Commission and approved by the shareholders.

A shareholder said the newly appointed members of the NISCOL Board is illegal and will be terminated by the shareholders.

The NISCOL shareholders are the Secretary Generals of the Provinces in the North and the town clerk of Luganville Municipal Council who are employed by the Public Service Commission.

Prime Minister Moana Carcasses is the Minister responsible for public service and no wonder Trades Minister and Santo MP Marcellino Pipite requested the PM to terminate two NISCOL shareholders for insubordination.

Meanwhile, the new Board of Directors’ new Chairman is Louis Tiome. The Board of Directors was elected this week in line with the termination of the former board before last week by the government.

The Board of Directors met yesterday and elected Louis Tiome the Chairman in line with the Article of Association of NISCOL, although this has reportedly been disputed.

The Board appointed Matai Seremiaah Wilson the new Chief Executive Officer for NISCOL.

Sources not far from the company welcomed the appointment of the new CEO as a milestone in the development of the companying saying he is the first university graduate to join the company with a degree in Accounting and Business Management.

Asked what his immediate priorities are, the CEO said he has three primary tasks to carry out at this stage; the first is to strengthen the financial control system of the company, the second is to get the machinery working again and the third is to diversify into other projects including infrastructure.

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