The Board of Livestock Development Corporation Limited (LDC) has publicly defended its decision to take disciplinary action against Managing Director Mr Terry Koim, following allegations of financial misconduct and claims made by Mr Koim on social media.
In a press statement released by LDC Board Chairman Martin C. Ginyaru, the Board said it was compelled to respond after Mr Koim allegedly published statements on social media and various WhatsApp groups on May 26, 2026, which the Board claims tarnished the reputation of the company, its management, and the Ministry for Livestock.
The statement clarified that LDC is a state-mandated enterprise responsible for livestock farming, downstream processing, and retailing of livestock products aimed at reducing meat imports into Papua New Guinea.
According to the Board, the disciplinary process began on March 1, 2026, after allegations emerged involving substantial amounts of money allegedly stolen from LDC bank accounts through unauthorized over-the-counter withdrawals and electronic bank transfers.
Following recommendations from the Board, the Minister for Livestock suspended Mr Koim on full pay indefinitely and commissioned an independent forensic audit and investigation by an external auditing firm.
“The investigation found sufficient grounds for administrative disciplinary charges to be laid against the Managing Director,” Chairman Ginyaru stated.
As a result, five serious disciplinary charges were formally issued against Mr Koim on May 19, 2026, under the terms of his employment contract.
The Board further alleged that several attempts to serve the disciplinary charges directly to Mr Koim on May 21, 22, and 25 were unsuccessful, claiming he did not answer phone calls or indicate his whereabouts.
The statement also addressed a reported incident at Mr Koim’s Laloki residence, where LDC officers allegedly attempted to deliver the disciplinary documents.
According to the Board, officers remained outside the property gate and, after receiving no response from anyone inside the residence, pushed the envelope containing the charges through the fence into the residential area.
The Board denied allegations that officers unlawfully entered the property, saying the entire process was documented through photographs and video recordings.
Chairman Ginyaru emphasized that the disciplinary process is lawful and ongoing, urging Mr Koim to cooperate and respond to the charges within the stipulated timeframe.
“He has now been accorded his rights of natural justice as required by law,” the statement said.
While acknowledging Mr Koim’s contributions to the development of LDC, the Board criticized what it described as “baseless allegations” and misleading statements on social media, warning that such actions risk damaging the reputation of the company and diverting public attention from the actual issues under investigation.
The Board reiterated its commitment to ensuring due process is followed before a final decision is reached.