Vendor Financing

Hamaka to represent Moran PDL5 in Vendor financing

Hamaka was nominated and endorsed by Homa Paua People’s Association, paramount chief and chairman Pape Punga and all the other beneficiary groups.

While announcing Hamaka’s appointment, chairman Punga reiterated that: “We’ve wasted a lot of time trying to accommodate other beneficiary groups’ interests and issues in exercising the Kroton share option while losing all other opportunities and associated benefits.

“We must not afford to lose any more time and will go with the Kumul Petroleum Vendor Finance Option.

Undialu calls for transparent dealings of vendor financing

Undialu said he had protested during a meeting with KPHL executives and landowners during their meet in Sydney in August after the proposal by KPHL.

“My objection was not only as landowner and MP but as Acting Governor of Hela Province at that time.

“I cannot understand why KPHL rushed to  the National Executive Council seeking for a Vender Note to raise funding from international financers?

“Why rush without seeking mandate from the Beneficiary Groups including Hela Provincial Government, the other four provincial governments and landowners?