CloudApp Laboratories PNG Ltd (CAL)

NCSL’s investment pays off

CAL is a joint venture company which was incorporated in February 2016 and specialises in software development.

The company was established with a share capital of K1,000. NCSL has a 51 percent shareholding while Software Factory Limited holds the other 49 percent.

After three years of successful operation and on conclusion of the audit of its 2018 financial statements, the Board of CAL declared total dividends of K200,000 with NCSL receiving K102,000 and Software Factory Limited receiving the balance. CAL now has net assets totaling K812,000.