PNG Nambawan Super declares K338 million profit

Papua New Guinea Nambawan Super Limited today announced a healthy profit of K338million over the past three years which represents an average annual return of 9.7 percent of K366million. When making the announcement, Board Chairman, Anthony Smare said against challenging conditions in 2014 the Fund has delivered yet another solid result for the members. The outcome has enable the Fund to declare a 7percent crediting rate which will be paid to members accounts, including Retirement Savings Accounts of retired members, whilst at the same time putting K90million in reserves to help the Fund counter any challenges in the coming year