The American Samoa government has received a US$1.6 million (T$4.1 million) from the Bluesky Pacific group of Companies through its first annual cash dividend.
The announcement was made by the American Samoa Hawaii (“A.S.H.”) Cable Company President, Toleafoa Douglas Creevey, who is also C.E.O. of the Bluesky Pacific group of companies.
This is according to a Press Statement issued yesterday.
American Samoa government is a shareholder of A.S.H. Cable. The money was accepted by the Attorney General Talauega Eleasalo Ale.
Toleafoa stated the A.S.H. Cable is a successful example of a favorable investment partnership between the private business sector and its government.
“It gives me great pleasure to share with the community of American Samoa that not a penny of this dividend distribution leaves the territory, but is invested right back into our local economy.
“Almost all of the A.S.H. dividend distribution for majority shareholder, Elandia Technologies, was also presented to A.S.G. in a cheque for the Tax Office for its corporate taxation obligations,” said Toleafoa.
According to the statement, this is the first time A.S.H. is paying out cash dividends to its two shareholders after successfully paying off its capital loans earlier this year.
“However local users have enjoyed the benefits ever since the A.S.H. submarine fiber optic cable linking American Samoa and Hawaii was commissioned in mid-2009, which was a pioneer achievement for American Samoa in the region that immediately enabled high-speed data access to the global information super highway over one of the earliest private cables to land into a small Pacific Island nation.
“A.S.H. Cable also extended a cable between Samoa and American Samoa (“S.A.S. Cable”) to also provide the first submarine fiber optic connection into independent Samoa, and both cables have greatly enhanced the local information and communications technology (I.C.T.) experience,” says the statement.
“A.S.H. has since served and enabled significant new opportunities in both Samoas to utilize the benefits of modern technologies to continually improve government, private business and personal communications and multimedia entertainment.”
Toleafoa says the submarine cables are extremely expensive technology investments for our relatively small island population to both invest in and then operate because they require very close, attentive management of all technical and commercial aspects.
“Our local people expect the latest technologies now and the fiber market is expanding into other untapped islands of the Pacific, including new larger cables now imminent into both Samoas.”