Samoa govt completes PFL takeover
The takeover of the 100 percent Samoa owned Pacific Forum Line (PFL) will be completed this week, says media spokesperson for PFL, Tupuola Oloialii Koki Tuala.
In an email to the Samoa Observer Tupuola said that “we had to finalize some of the administration procedures involving the execution of share transfers.”
“PFL is 100 percent owned by the Government and is a limited company.”
“There is no need for a new corporation because Government bought all the PFL shares from 11 other countries in the company, so it just took over the company.”
“PFL has its own Chief Executive Officer (CEO) and management based in Auckland, New Zealand with divisional managers in the islands. For example, we have a PFL office in Apia and it has its own manager.”
The current CEO is Henning Hansen and transitional Board members include Tupuola Oloialii Koki Tuala (Chair of Joint Venture between PFL and Samoa Shipping Services Ltd), Sala Theodore Sialau Toalepai (CEO of Samoa Shipping Services Ltd) Tuatagaloa Aumua Ming Leung Wai (Attorney General) and Fogapoa Samoa of the Ministry of Finance.
A transitional Board led by the Deputy Prime Minister Fonotoe Pierre Lauofo was set up with the responsibility managing and operating PFL.
According to Tupuola the new Board takes over from the previous Board and is “continuing the running of the business as usual.”
“The transitional Board is responsible for finalizing the takeover of PFL, reviewing the current operations of PFL and determining a strategic plan for the future of PFL.”
“The new Board is working together with Management to continue all operations of PFL.”
“The transitional Board of Directors of PFL has held meetings with PFL’s management and business partners in New Zealand on 11th and 12th October 2012.”
“The transitional Board was appointed by the Government of Samoa’s Cabinet following Samoa’s acquisition of PFL.”
In a press release issued by the Government, Fonotoe had said that “Samoa’s decision to acquire PFL is a bold move by our Government to ensure the continuation of reliable and affordable shipping lines to Samoa and other key areas of the South Pacific.