Results for Tonga public enterprises

The Chairman of the Shared Board Transport Sector (PAT, TAL, FISA), Dr. Sione Ngongo Kioa presented a cheque of $1,642,689 million (75% of net profit after tax) to the representative of the shareholder, the Minister for Public Enterprises and Deputy Prime Minister, Hon. Poasi Mataele Tei, on May 4, as dividend of the Ports Authority Tonga (PAT) for the financial year 2020/21 during their 2022 Annual General Meeting, held at the Fa‘onelua Convention Centre, Nuku‘alofa.

A cheque of $250,000 dividend was presented to government from the property sector of public enterprises during their Annual General Meeting today, 16 February.

Two Cabinet portfolios have been reshuffled with the separation of the Ministry of Fisheries and Agriculture, now headed by two Ministers. The PM has also reshuffled his own portfolios, and those of other ministers.

Tonga Communications Corporation handed over a dividend cheque of $1.213 million pa'anga to the Government of Tonga as shareholder in the full and final dividend payment for the last financial year 2014-15. This is the second consecutive year that TCC is paying a dividend in excess of $1 million pa'anga, and growing rapidly year on year over the last five years.

Tonga’s Ministry of Public Enterprises has started to introduce more shared directors for public enterprises, with some directors holding positions on three boards, as part of a push to reform Public Enterprises that started in 2015 to be completed this year. The Ministry’s CEO Sione ‘Akau‘ola said the shared directors process for the Transport sector started last week.

Proceedings in the Tongan Parliament kicked off on a high note this morning, September 15, when the Prime Minister Hon. ‘Akilisi Pohiva told members he was concerned that government was being accused of taking a wild swing (fakanafala) on directors of six boards of public enterprises who were told to voluntarily resign. From the House by Pesi Fonua.

State Owned Enterprises constrain island countries economies, where they absorb large amounts of scarce capital and are generally low in productivity and services, according to an ADB report that was released early this month.

A new office building to house both the Tonga Print Ltd and the Tonga Post Ltd at Vaololoa was officially opened by the Prime Minister, Lord Tu'ivakano yesterday evening, 19 March.