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Subject: "Somare Inc."


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Date Posted: Mon, Oct 15 2007, 06:04:27pm

PNG people should be concerned about Somare's latest moves to turn the business interests of PNG into Somare Inc.

IPBC controls all of the PNG government's interests including its 18% ownership of Oilsearch. IPBC has now been put under the supervision of Arthur Somare even though Michael Somare is the caretaker Minister for that portfolio.

Somare has now appointed Glen Blake to IPBC Board and appointed Sana Somare, his eldest son, to PNG Power Board.

Glen Blake is the Managing Director of the Somare family companies Damai Investments and SBA Constructions Ltd.

Sana Somare is the Managing Director of SBA Construction, a small contractor company in Wewak.

Sanaand Glen Blake are directors on the boards of these two companies with all the other somare children.

SBA stands for Sana, Bertha and Arthur construction.

By appointing Blake and Sanato the different boards of the statutory enterprises and IPBC under control of Arthur, Somare is turning IPBC and PNG Government's business interests into "Somare Inc."

source: cc from someone concerned

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