Investigate the Managing Director of MRDC

I commend Peter O'Neill for setting up a commision of inquiry into the mismanagement at the Dept of National Planning. As a illiterate landowner from the SHP, may I ask him to do the same at MRDC. 

MRDC is an entity that manages the PNG Oil and Gas Landowners equity and royalty benefits and Future Generations Funds. Under Mr. Mano's management, the landowners from Gobe, Kutubu, Moran and Ok Tedi have lost hundreds of millions of kina. 

The board of directors of MRDC's subsidiaries such as Petroleum Resources Kutubu, Petroleum Resources Gobe, Petroleum Resources Moran, MRSM, MROT etc are semi educated people, especially the landowner Chairmen and directors. 

In the name of investing for the landowners, Mr. Mano and his team have stolen tens of millions of kina investing in questionable business deals that brings no revenue for the landowners: May I call upon the current goverment to investigate the follwoing investments by MRDC for the landowners:

1. Purchase of Heavy Lift in Australia -- this company is broke and own by a family, heavily debted with assets worth not more than K30 million. MRDC bought 50% of the shares for K75+ million! None of the landowner directors or MRDC executives are on the board of Heavy Lift.

2. Purchase of a very small land at the back of Islander Village, size not more than 0.2 ha, and half of the land is under reserve land. The land is allegedly owned by MR Mano's Mendi wantok and this undeveloped land was bought for K12 million. According to managers at MRDC, this business proposal never went through the normal investment due diligence process of the Investment Division of MRDC, rather it went through Mr. Mano's office. Investigate and find out how much MRDC senior managment benefited from this corrupt deal. This was a collaborative work of lawyers, valuers, executive management of MRDC, Lands Dept officers and General Manager, MRDC Commercial.

3. Purcase of 5 x 3 bedroom property at 2 Mile Hill (next to MidValley Apartments) for K15 million for Ok Tedi Landowners. This property is worth not more than K5 million.

4. PRG, PRM and MRDC's investment at Port Moresby Casinno building at Boroko (4 mile). This investment is questionable because MRDC as the trustee of the peoples resources has failed to manage the people money. It is believed that some senior members of MRDC were directly benefiting from this deal.

5. Petroleum Resources Gobe and Petroleum Resources Moran books are in the red, because all their monies have been used up investing in questionable investments by Mr. Mano and his team. I am hearing stories from some senior officers from MRDC that the Gobe and Moran Future Generations Funds have been depleted because Mr. Mano and his Team have access the Funds to invest for the landowners. As per the Oil & Gas Act, it is illegal to access the Future Generations Fund.

6. Since his appointment as MRDC Managing Director, Mr. Mano spends more time overseas, especially in Australia and Fiji than in office. Ask any officer at MRDC and they will confirm this. Find out who pays for his travelling costs/bills and nature of his frequent trips there. Hope he is not using landowners money for his private/pleasure trip.

This man and his executive team need to be investigated. He never got appointed to the position on merit; rather he bought the job by going directly to Michael Somare through his good buddy Tari MP James Marabe. He has a univerity degree and masters degree but has no single experience in any formal work. His own company CIVPAC has been run down and have always begged the government for handouts since it started operating in Gobe, whenever they need money they let the landowners in Gobe rattle the cages off OilSearch so they can put pressure on the Government to pay up, this guy is a clown I do not know why they appointed him to the job at the first place.

-Landowner

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