By WASITA ROYAL
A few years ago, the East New Britain Development Corporation (ENBDC) faced serious challenges. Management issues and business pressures placed one of East New Britain’s important provincial assets at risk.
But on Thursday, August 21, a new chapter began with the opening of the new Eliseo Plaza at Koki in Port Moresby, once again putting the East New Britain flag in the nation’s capital.
East New Britain Governor Hon. Michael Marum, who stepped in to help protect the provincial asset, described the reopening as an important milestone for ENBDC and the people of East New Britain.
“This is an important milestone for ENBDC and for East New Britain. To see the East New Britain flag flying high again in the nation’s capital is something we should all be proud of,” he said.
ENBDC remains the owner of the property, while Eliseo Group has partnered with the corporation to develop and operate the new supermarket.
ENBDC was established by past provincial leaders as the business arm of the people of East New Britain. For many years, the corporation performed well, but poor management and growing business pressures later placed it in financial and operational difficulty.
Governor Marum said the provincial government had to intervene to protect the asset and give the corporation an opportunity to recover.
“We had to intervene to ensure that this important provincial asset was protected and given an opportunity to recover,” he said.
The Governor acknowledged ENBDC Chairman Mr Laurie Williams, Board Directors State Solicitor Daniel and Mr Elison Pidik, Provincial Administrator Levi Mano, and the legal team for their leadership and efforts in turning the corporation around.
He praised the team for making difficult decisions to protect and rebuild the company.
Governor Marum also thanked BSP Financial Group for believing in the new ENBDC Board and supporting the corporation during its difficult period.
He acknowledged Eliseo Group Managing Director Jackie and his team for partnering with ENBDC and transforming the property into a modern supermarket.
National Capital District Governor Powes Parkop and Moresby South MP Hon. Justin Tkatchenko were also acknowledged for welcoming ENBDC’s presence and contribution to Port Moresby.
Governor Marum said the new supermarket would help restore confidence in the provincial asset while creating a stronger business platform for ENBDC’s future.
“We are proud to see ENBDC moving forward again. The flag of East New Britain is flying high in Port Moresby, and we want to see it remain there for many years to come,” he said.