Thursday, 11 June 2009 1:38 PM

Sasako and Phoenix

Dear Editor,

I agree with what Mr. Sasako said about the ongoing issue that Mr. Solomon Saiki wanted to voice out. Its good that he came up with those issue but I think it is not right for an Investor or a foreign company to disclose what its business operation like or its sharing of profits to its landowner to the Public.

I have been in PNG for the past years and I never come across any thing as such that Mr. Solomon Saiki wanted Mr. Alp to disclose. I mean, people starting to ask how is that Mining Company or that Oil company going to share the profits with the Land owners? Never. So you are asking him through the media to explain how the Landowners and Pheonix share that 50/50 percentage, from the gross revenue or from the net profit after tax? I dont think this is the right place to ask him about that. If you are one of the members of the Land owning group then I think you should ask the other members to make sure you all know what that sharing means. But if you are not, then I think the land Owner are the people to know this type of matter as far as the development of their land is concern.

Disclaimer: The views and opinions expressed in this letter/article are those of Noel Wane and do not necessarily reflect the official policy or position of Solomon Times Online.