Farewell Sir Brian Bell continued
Sir Brian was a committed supporter of PNG communities and will be fondly remembered by the many charities he supported and sponsored unwaveringly. Among those are Port Moresby General Hospital and the Salvation Army of PNG.
His understanding of the need for Papua New Guineans to build longterm financial security is reflected in the approval for Nambawan Super to take a shareholding in the Brian Bell Group of Companies. The only public entity on the Brian Bell share register, your Fund now has a 35 percent holding in the Company, whose subsidiaries include ESCO and Beltek. Nambawan Super members are eligible for 15% discounts on purchases from these businesses.
Sir Brian has left a significant legacy in PNG and Nambawan Super is proud and privileged to be a part of it.
Vale Sir Brian. We salute you.
In the Spotlight Paradise Foods - a sweet investment continued
Paradise Foods Limited, the oldest established food manufacturing company in PNG, has transformed itself many times in its long and proud history. Here’s how it started...
| 1932 |
Master baker Robert “Scotty” McEwan came to work in the New Guinea goldfields in Wau. |
| 1933 |
Dick Mant arrived in Salamaua. |
| 1937 |
Seeing the opportunity to set up a bakery in Wau, Dick Mant formed a partnership with Scotty McEwan to establish Morobe Bakery Pty Ltd. After the bakery was destroyed during WWII, the pair moved the enterprise to Lae. |
|
Over the years Morobe Bakery expanded to other locations in the Territory and made a number of important acquisitions. |
| 1960 |
Purchased 20% of Arrow Bakery in Port Moresby. |
| 1962 |
Took a shareholding in the Golden Crust Bakery in Goroka. |
| 1969 |
Bought into the Mt Hagen Bakery. |
| 1972 |
Arnott’s Biscuits Limited bought a majority interest in the Morobe Group of Companies. |
| 1992 |
Morobe Bakery, now owned by Arnott’s, bought the Paradise Bakery group, the second largest biscuit and bread manufacturer in PNG. Paradise Bakery originated in Rabaul and was owned by Mr and Mrs Wong Kam Fai. Later expanding to Port Moresby, the group in joint venture with David and James Seeto formed the Lae Biscuit Company. |
| 1997 |
Arnott’s Biscuits (PNG) Ltd bought Papua New Guinea’s second largest snack food manufacturer, Paradise Products. |
| 2007 |
Arnott’s, by then owned by US multinational Campbell’s, sold its shares to two shareholders in PNG - Nambawan Super Ltd and Comrade Trustees Ltd. The name of the company was changed to Paradise Foods Limited. |
| 2010 |
Now with a 600-strong enthusiastic workforce, Paradise Foods Limited is focused on revitalising the business to market leadership, while preserving its strong entrepreneurial heritage, built on the traditions of creativity and customer satisfaction started by its pioneers Scotty McEwan and Dick Mant. |
|
With 85% of the issued shares, Nambawan Super is now Paradise Foods Limited’s majority shareholder, which means the better the financial performance of Paradise Foods, the better for Fund members. Boost your potential return - buy a Paradise Foods product today! |
Share your story Moses Hailai’s story continued
Moses Hailai, who hails from the Gulf Province, is a firm believer in working hard and planning for the future. A teacher for nearly 40 years, Mr Hailai is now retired from the profession and about to embark on a new career.
Mr Hailai recently purchased a 15 seater bus, the first of what he hopes will be his own PMV fleet. He funded the purchase through his savings in the Nambawan Super Retirement Savings Account (RSA).
A long term member of the Nambawan Super Fund, Mr Hailai first learnt about the RSA some three years ago, when he attended our information roadshow in Lae. The idea took hold. Come his retirement he would share his payout amongst his five children and his wife to say thank you for their support during his teaching career. And, having a lot of confidence in the Fund, he would put some of the payout in the RSA to keep a portion of his superannuation benefits growing.
A firm believer in family welfare, Mr Hailai’s plan to build a comfortable and financially independent future is now working well. As well as funding his new bus, his RSA investment also helps him pay for family medical expenses. He strongly urges his teaching colleagues to make wise decisions about putting their money to good use and recommends investing in super so their financial future is not left to chance.
Mr Hailai is a wonderful role model to us all. We wish him all the very best for a prosperous future with his new enterprise!
Money Matters Risk versus Return continued
As the Trustee of your retirement savings, we use three key yardsticks to guide our decisions:
1. Risk
Generally, if we are considering an investment or an asset class with higher volatility/risk characteristics, we expect correspondingly higher returns on the money invested. If its performance is lower than our expectations, we switch to something else that will reward the risk the Fund is taking.
2. Time
We expect returns in line with the time over which we hold each investment. If the return on an investment is below expectation, again, we switch to an alternative that delivers the performance deserved for the specific time frame.
3. Inflation
Your retirement savings will need to keep pace with rises in the cost of living, so you can maintain a comfortable lifestyle in retirement. Nambawan Super’s investment objective enshrines this requirement, being “to deliver an after tax return of at least 3% above the inflation rate with negative real returns in no more than one year in five”.
These guiding principles have enabled the Fund to consistently deliver real returns to members in excess of the Fund’s objective since the superannuation reforms. And while we caution members not to expect that such performance can be achieved every year, in view of the uncertainties that lie ahead, you can expect your Fund to deliver total commitment to managing risks.
Member Benefits More Member access to customer service continued
Branches are now open in...
Kimbe: Level 1, Hamamas Trading Building Tel: 983 5450
Goroka: Level 1, Gouna Centre, Elizabeth Street Tel: 532 1224
Buka: Level 1, Matanhei Building Tel: 973 9801
Kavieng: Ground floor, Durima Building Tel: 984 2611
Madang: Level 1, Beckslea Plaza Tel: 422 0244
Alotau: Ground Floor, Chescorp Building, Sec 21 Lot 10 Tel: 641 0671
As a Nambawan Super member you are entitled to a number of valuable discounts:
Air Niugini 12% discount on airfares
Funeral Home 25% discount on services
Brian Bell, CHM, Belltek and Esco 15% discount on purchases
Plumbers & Buildings and City Pharmacy 10% discount on purchases