Read article – November 19, 2024 – Tuesday (Post Courier)
Nambawan Super Limited (NSL) continues to contribute significantly to the development of Papua New Guinea through direct local investments into projects and assets that aim to bolster the country’s economy, while providing strong returns to our Members over the long term.
The Fund also aims to create value and provide broader direct and indirect benefits to Papua New Guinea, by supporting and empowering local companies, in line with NSL’s Local Content Policy. This Policy aims to ensure that local suppliers can effectively compete with international suppliers for contracts commissioned by NSL.
As part of this initiative, Nambawan Super has partnered with a local Valuation company – CJ Valuers Limited (CJ Valuers). With over 10 years experience, CJ Valuers is fast becoming a household name in the valuation practice across PNG.
Since PNG does not have any systematic valuation standards, and has a dated law (Valuation Act 1967), CJ Valuers is raising the bar in the profession. CJ Valuers is the only valuation firm in PNG that is a member of the International Valuation Standards (IVS) Council and uses the IVS in its practices.
In addition to the wide range of valuation services, the firm also provides Capacity Enhancement Technical Training; and Consultancy Services – mainly in Sector/Thematic Studies and Policy Formulation, Feasibility Studies, Development Management, and Research Surveys.
Mr. Paul Sayer, Chief Executive Officer of Nambawan Super stated, “We are pleased to have engaged CJ Valuers to value our property portfolio in Lae, Morobe Province. Their expertise in providing accurate and quality assessments have met the high standards and compliance requirements of the Fund.”
“Their professionalism and ability to deliver valuation reports on time has satisfied the Fund’s audit and reporting requirements, ensuring we are able to remain compliant with statutory and regulatory obligations which is extremely important for the Fund.”
“CJ Valuers has been engaged by NSL since 2023 as a valuer for a number of our properites. Apart from conducting valuation of NSL’s properties in Lae, they have also been engaged to conduct property valuations for two NSL properties in Port Moresby, namely the Bayside Apartments, and the NSL Warehouse..”
NSL aims to provide full and fair opportunities for local suppliers to participate in competitive tender processes, related to the Fund’s activities. This is achieved by pre-qualifying suppliers with whom the Fund is prepared to work with. This comprehensive process includes an assessment of the company or individual’s character, compliance, reputation, testimonials, and capability to perform the required tasks.
If there are any concerns regarding character or compliance with IRC and IPA, NSL will not prequalify the company or individual, regardless of whether they are local, long-term market participants, international companies, or citizens.
Nambawan Super is committed to increasing its engagement with local businesses, with Members at the heart of everything we do. Through its Local Content Policy, NSL supports the development, upskilling and capacity building of local businesses, creating more opportunities for local and home-grown businesses to thrive.
This, in turn, contributes to employment opportunities, strengthens our local supply chain, upskill our local employees, and positively impacts the economy of Papua New Guinea.
Nambawan Super’s partnership with CJ Valuers is just one example of several. It demonstrates the Fund’s ongoing commitment to promoting a resilient and self-sustaining economy, by holding local businesses to the same high standards and expectations, enabling them to continue to grow and develop and compete at international standards.
Nambawan Super will continue to seek partnerships with local organisations that align with the Fund’s values and strategic vision.
