The Tonga Asset Managers and Associates Ltd. (TAMA) on 9 December presented $50,000 to Hon. Poasi Tei, Minister of Public Enterprises as its first dividend to its shareholder, Government of Tonga.
“We thank Government and the Ministry for their support and especially to our clients and tenants who have helped us register a successful year.
It is gratifying to be able to present this since TAMA’s inception in 2011 as a public enterprise. This is the first time a profit has been made and we wanted to present a dividend to Government,” said Chairman of the Board, Va’inga Palu.
TAMA was established as a public enterprise in 2011 inheriting the management and operations of the Small Industries Centre in Ma’ufanga and Vava’u and more recently included other properties such as Sea Stars Company at Tuimatamoana, former ‘Apimataka at Haveluloto and Tofoa and Polynesian Shipping Company property at Sopu.
“TAMA hopes to consolidate and better manage the assets and the business plan aims to explore new commercial and business opportunities while at the same time exercising prudent and cost cutting measures so as to grow the value and strengthen TAMA’s position,” added Va’inga Palu.
The Minister of Public Enterprises Hon. Poasi Tei congratulated TAMA and thanked the board and staff for their hard work.
“Government is thankful for this and it is a pleasant surprise to be able to turn a profit within 4 years only and receive a dividend. Given it is a relatively new public enterprise, this is indeed a positive development and we look forward to more successes in the future,” said Hon. Tei.
ENDS.
Issued by the Tonga Asset Managers and Associates Ltd
For more information:
CEO TAMA PH: 23880 or 21880
