Who is David Sove? WHP Governor Paias Wingti must explain


by A Concerned Western Highlander

The Western Highlands Development Corporation is the business arm of the Western Highlands Provincial Government and is owned by the Western Highlands Provincial Government (WHPG) and a company called, Western Highlands Schools Foundation Limited (WHSFL).

The WHPG which represents the 500,000 plus inhabitants of the Western Highlands Province owns 91202 shares in the company while WHSFL owns 136803 shares in the WHDC.

WHSFL owns 60 % of WHDC while WHPG owns 40 %.  WHSFL has one director and shareholder by the name of David Sove who lives in Malolo Estate in Port Moresby North-East Electorate, 8 Mile, National Capital District, Papua New Guinea.

The business arm of Western Highlands Provincial Government is owned by the people of Western Highlands Province ( 40 %) and this individual, David Sove, who owns 60 % of the company.

Apparently, the Kapal Haus rentals are paid to WHDC along with all other rentals and proceeds from assets and various business dealings related to WHDC.  

Out of all the money that is paid, David Sove pockets 60 % of whatever is being paid to WHDC from various business activities.

As of 2016, the WHDC had total assets worth around K 192, 424, 763.00 and total liabilities at K 21, 732,463.00. The balance of those figures left WHDC at a net asset value of K 170, 692,300.00.

As you can see, out of the K 170, 692,300.00, David Sove’s share is worth K 102, 415,380.00. The Western Highlanders are left with K 68,276 920.00.

David Sove is not a director of the WHDC. The directors of the WHDC are:

  1. Nathan Wantape;

  2. Paul Timbi;

  3. John Pahuma;

  4. Paraka Nii and

  5. William Maki.

While all these men are notable and respected men in WHP, the name David Sove does not ring a bell in my head. Can the directors of WHDC let the general public and the people of WHP know who this individual multi-millionaire investor, Mr David Sove is?

We demand to know who this guy is and how he ended up being the major shareholder of our business arm with assets worth over K 100 Million or maybe more?

I call on Nathan Wantape, Paul Timbi, John Pahuma, Paraka Nii and William Maki to provide an explanation as to who David Sove is? I also demand David Sove come out and explain to us, Western Highlanders, how you acquired assets worth over K 100 million from our company?

I also demand the Western Highlands Governor Paias Wingti come out in Public and explain himself regarding the above. The Provincial Administrator needs to address this issue immediately.

I also ask if all our open members can support this call and demand answers from Governor Paias Wingti and also refer the directors of WHDC and the Administrator of WHDC together with the Governor to the Ombudsman Commission of Papua New Guinea.

This arrangement has been in place since 2016 and it seems obvious now that David Sove has been pocketing millions for over 5 years now.  

Millions of kina are being misused in broad daylight and major corruption is taking place in the WHPG and the WHDC.

Hon. Governor, Paias Wingti, we need answers from you.

Who is David Sove?

How did this guy acquire assets worth over K 100 Million Kina in WHDC?

It is also crucial to note that the WHDC owns a lot of other companies, shares and assets which are worth over millions of Kina.

A few examples are like the Melpa Properties business arm of WHPG, the Pacific Arabicas Coffee Limited, the recently accumulated Mt Hagen Golf Club and other notable business interests of which I will not cover.

The bottom line is whatever the WHDC owns, David Sove owns 60 % of it!

(All the statements above are facts. Check them out for yourselves on the IPA website)

Concerned Western Highlander

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