Melanesian Trustee Services Limited

Court stays decision to remove MTSL as trustee

MTSL, a trustee of the Pacific Balanced Fund, is a private equity trust for 20,000 Papua New Guineans, worth a total value of K540 million.

Melanesian Trustee Services Limited filed the appeal on 12 September, challenging a number of decisions made by the Securities of Commission of PNG. 

MTSL awards Mead, Martin

This week, MTSL through Pacific Balanced Fund Agro-Business presented cash awards to David Mead (best back) and Rhyse Martin (best forward) for their outstanding performances in the PNG LNG Kumuls 50-6 win over Wales.

Martin thanked MTSL saying it was an honour to be recognised for his efforts. Mead added on expressing his appreciation for the award.

General manager of Pacific Balanced Fund Agro-Business, Jerry Simon, said this was part of MTSL’s continued support from the SP Hunters and now to the PNG LNG Kumuls.

Pacific Balance Fund records steady growth

Statistic from its recent report, ‘Our story of growth and creating a safer financial future for ordinary Papua New Guineans’, initially, the Fund’s NAV was K75m and today it is worth in excess of K616m.

In this period, the Trustee, Melanesian Trustee Services Limited (MTSL) has also introduced efficiencies to manage the operating expenses while also improving the Fund’s income generation and investment performance.

In 2002 it generated an annual income of just K6m and by 2015 the Fund generated an annual income of over K86m, an increase of more K80m.

Pacific Balance Fund (PBF) to pay out over K3.1 million to shareholders

The Melanesian Trustee Services Limited (MTSL) announced today that following another successful year for PBF, its unit holders will receive distribution for 2015 at 0.24 toea per unit.

This is an increase of 0.05 toea from 2014 as per results announced early this year.

 MTSL general manager corporate services and governance, Lawrence Stephens said 20,000 unit holders who own shares will receive their shares.

Stephens said that the Board made this decision based on the availability of funds which updates the distribution to unit holders.