Solomon Islands Reclaims Deposit Made By Sacked Port CEO For Seaplane

$100,000 was never authorized by Solomon Islands Port Authority board

By Aatai John

HONIARA, Solomon Islands (Solomon Star, Sept. 8, 2016) – Solomon Islands Ports Authority (SIPA) has reclaimed US$100,000 (more than SBD$700,000) its sacked chief executive officer Colin Yow deposited with an overseas firm for the purchase of a seaplane.

SIPA’s interim CEO Mike Wate confirmed this to the Solomon Star.

Mr Wate said the unauthorised deposited was made with Viking Canada.

“I want to thank our Director Finance George Rausi for his consistent efforts in following up with the supplier until they finally complied,” Mr Watesaid.

“I also wish to clarify that the amount was US$100,000 and not US$200,000 as reported elsewhere in other media,” he added.

Singaporean Yow made the deposit without the SIPA board’s approval prior to his sacking.

This was part of his plan to get SIPA to venture into air service.

The plan was cut short after his sacking, and Mr Wate moved quickly to pursue the refund of the deposit when he took office.

A commission of inquiry conducted into the SIPA saga headed by former central banker Tony Hughes is yet to release its report.

An audit done into the authority’s finances uncovered a loss of $24 million under Yow’s watch.

Solomon Star
Copyright © 2016 Solomon Star. All Rights Reserved

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