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.

Hailing from the ranges of Boikin, Wewak, ESP, Chris is one Papua New Guinean that has been widely involved in the development of economies internationally throughout his decorated career. The name Chris is synonymous in the economic, banking and capital markets sectors as well as good governance and anti-corruption.

Sir Chris worked as an Economist for the Asian Development Bank and is recognized by the ICSC as the first Papua New Guinean national to be employed by an international development financial institution as a professional member of its staff cadre. Chris has worked with ADB for more than two decades across the globe before taking early retirement when he was offered the Executive Chairman of the Securities Commission job to return to PNG.

His good intent to return to PNG and share this unique exposure and experience with Papua New Guineans was shattered by politics which side-lined him as the Executive Chairman of the Securities Commission months after he took up the post. The capital markets is one technical area where he could have contributed substantially to the country’s development with is extensive experience had politics not interfered with the opportunity. Despite political interferences to appoint cronies to the position, Chris did contribute briefly to the country’s capital markets and as an ex-officio Director of the Board of the Bank of PNG.

Since his being sidelined by politics from the Executive Chairman post, Chris has been active in the country’s development as a practicing economist and a consultant for various government departments, and financial institutions including as the Chief Economist for the United Nations, as well as Senior Consultant Economist for the Department of Commerce & Industry, the NCOBA and the Autonomous Government of Bougainville leading the first of its kind in PNG – the Bougainville Socio-Economic Baseline Survey; the Valuation of Bougainville’s Natural Assets; and conceptualizing the Bougainville Economic/Investment Summit.

In the private sector, this talented development economist has ventured into raising the bar in the Valuation profession in the country. He registered several business entities with the IPA including the Pacific Capital Markets Institute, the Independent Evaluation Team, and recently together with one of the most prominent registered Valuers in PNG, Ms Janet MH Yagur they created the CJ Valuers Limited – an independent valuation company providing Property, Company/Business and Security valuations, as well as training and consultancy. CJV Valuers aims to capture 50% of the market share in the next 5 years and has the eye to capture a sizable share of the valuation business in the Pacific.

The co-founder and CEO of CJ Valuers Ms. Janet MH Yagur is a strong willed, vibrant and dedicated female entrepreneur who has been in the valuation profession for over 20 years.  As the principal valuer of CJ Valuers, Ms. Yagur has a record of over a 150,000 valuations conducted across PNG covering all aspects of the valuation profession. Through her insights she has welcomed the wisdom and the quality asset in the calibre of Mr. Hnanguie. Chris is the Managing Director/Chief Economist of CJ Valuers and provides strategic oversight and capacity enhancement of the company.  He brings in not only economic, finance, business insights but the global best practices only a handful of SMEs in PNG have.

At the onset, being a global banker and returning to PNG and contributing significantly to a local SME is profound. Mr. Hnanguie believes in upholding the rule of law and due processes and hence whilst being the Managing Director of CJ Valuers Ltd, he is a registered Company Director with the PNG Institute of Directors – something not many SMEs in PNG are priveledged to have.  This brings a lot of confidence to the staff of this vibrant team dedicated to build a successful PNG company under one of its own success story.

When asked, what inspires him, Chris noted that, “Papua New Guineans striving to be better and excel in what they do. It inspires me to see the co-founder of the company Ms. Yagur who laid the foundation of CJ Valuers with Yagur Property Valuations. This formed the basis for CJ Valuers to take-off. Whilst the COVID-19 pandemic forced many SMEs to scale back or simply wind-up, CJ Valuers was transforming, branding and consolidating to be a powerhouse in the valuation business. They acknowledge this to an important client – the Kina Bank Limited. Like all businesses and sectors we have learnt and adapted to maintain our efforts in catering for our clients and fostering new ties and relationships especially in retaining and expanding our client base”. As the “wind beneath the wings”, Chris oversees and ensures that the competitiveness of the firm rests in the quality and timeliness in the delivery of its products and services. Whilst Chris’ and Ms Yagur’s reputation brings confidence and credibility to the firm, it’s the multi-disciplinary approach with strong advanced technological tools to that is giving the cutting-edge notch to CJ Valuers that stands out from other valuers or rivals fall behind.

Development of the valuation industry is also of utmost importance to CJ Valuers especially in terms of educating and promoting women in business as the company believes that it’s also about equal opportunity and making people aware that gender empowerment in the industry is a major aspect in the overall development process of the country.

When asked about the state of the economy, Sir Chris said “the structure of our economy is built on natural resources such as the extractive industries like mining and petroleum as well as the tree crop commodities. Hence its behavior is cyclic and subject to the global demand for our commodities where we thrive when the demand for our resources are high and we fall when the demand is low. The irony is over the past 40 plus years, we are yet to understand this simple cyclic nature of our economy and adopt so that when the economy is heavily rocked by external shocks we are able to sustain ourselves or not to fall so heavily on our face.

Recent years including at the peak of COVID restrictions, this was so evident. “Major players such as the private sector were affected seriously because movement and travel had been contained causing businesses to cut back due to certain policy measures. But as the situation on Covid -19 started improving, policy measures were relaxed and travel restrictions had been lifted and main contributors to the economy such as the private sector have gone back to business and economic activity is starting to flourish compared to the years when the pandemic had hit hard. When I was with the United Nations, I was tasked to conduct the Socio-economic Impact of COVID-19 on PNG, to look at how business as well as the vulnerable groups of society were affected, the report is now online.

All in all, its time for PNG to better prepare for rainy days. When is the Sovereign Wealth Fund going to be established? When are the Special Economic Zones going to be properly regulated?  These are some areas that can help cushion the economy when it falls. PNG is in its new chapter – elections are here and the country has lost a significant number of its founding fathers ranging from the Great Grand Chief Sir Michael Somare to Sir Paulias. The coming election would be a major transition in PNG’s overall political and economic system. Papua New Guineans need to look at things in a policy or systematic way on how to cast their votes, our voting system goes with whoever that provides at that particular time and day.

When asked about what he observed to be a challenge as one of the most demanding aspects of his career as an economist? He explained on how PNG politics has continuously interfered and hindered with economic progress – it is sad to see how undue political interference has destroyed the public service. When I returned to PNG I did not get the opportunity to share some of those unique exposure and experience and global best practice in PNG, especially in building the countries Capital Markets which is the piston of the economy and the right gear for creating wealth for our citizens. We can’t afford to allow politics to interfere in all aspects of our economy.

Prior to getting into the valuation industry as Managing Director for CJ Valuers, Chris has been recognized for his achievements and efforts in the economic and financial sector and has received multiple awards at both the local and international level from multiple governments around the world including the governments of Vietnam, Laos and Kazakhstan for significant contributions to economic management. In PNG he was awarded PNG’s Logohu Medal (LM) in recognition for his services in Economic Management and for upholding the principles of good governance.

Chris holds 3 Masters Degrees including a Masters in Business Administration, a Masters in Business Economics,  and a Masters in International Political Economy. He also holds a Bachelor degree in Economics and Political Science from the University of PNG.

Currently he is also a senior Consultant Economist to the Commerce & Industry department and the Autonomous Bougainville Government in the country. Christopher Taylor Hnanguie also Lectures in the Master of Business Administration, and the Master of Economics and Public Policy programs at the University of PNG. He is completing his book entitled “Papua New Guinea the Trillion Dollar Economy:  Why So Rich Yet So Poor?”