Govt. gets $3 million dividend

By Ivamere Nataro ,

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Samoa Land Corporation building at Tuanaimato.

Samoa Land Corporation building at Tuanaimato. (Photo: File)

The Samoa Land Corporation (S.L.C.) handed over a dividend payment of $3million tala to the Government of Samoa yesterday. 

S.L.C. Chairman Lavea Tupuola Malifa said the payment was their way of acknowledging the work of the Government.

“This is also part of our contribution to the development of the Government,” Lavea said. 

“The real motive here is that we served and did it with love and honesty towards you all, especially the Prime Minister. You must be torn apart by now with all the accusations, but instead it’s building up your strength and ferocity.”

S.L.C. finance and audit committee member, Tuilani James Bartley said for every government trading bodies, they have to contribute 50 percent of their net profit for every financial year to the Government of Samoa. 

“That is why we have given this amount from our financial year 2017-2018 for them to use for their budget next year,” Tuilani said.  

“The last time we presented a dividend was in 2015, it was a little more than a million tala. This increase in payment shows the work of the S.L.C. has improved because we have laid down our policies and how we control our expenses, and that’s why we have this lump sum presented to the Government.” 

Prime Minister Tuilaepa Sa’ileleMalielegaoi  acknowledged the efforts of the S.L.C. in generating a profit from the Government lands and contributing to the development of the country. 

“We’re just thankful that this huge profit you’ve been working on has been presented from running and managing these lands for the country.”

Since Tropical Cyclone Ofa, Tuilaepa said Samoa has not fully enjoyed the potential and the value of its land, and this prompted the Government to take a different approach as they were no longer getting any income from the land. 

“Few lands were arranged to be cared for but the rest were handed over to the land corporation to handle and run these lands for various developments which is currently still on track,” he said. 

“The lands are owned by the Government and the country. Now we’re presented this income, it will go back and be used to serve the country with many developments and jobs too.” 

© Samoa Observer 2016

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