RIPEL’s OWNERSHIP FISHY
The ownership status of the Russell Islands Plantation Estate Limited (RIPEL) is being questioned and highly suspicious of unauthorised amendments.
The General Secretary of the Solomon Islands Indigenous Peoples Human Rights Advocacy Association (SIIPHRAA) Buddy Wickhams Noamasahu made the claim through SIBC News.
Mr Noamasahu says this follows what he describes as the unauthorized cancellation of RIPEL workforce share, exposed in the Company Haus recent records.
“Last Friday I collected this document at the Company Haus, shareholding is as follows: International Company, Trade and Shipping Limited has 75.1 percent, Lavukal Investment Company Limited has 24.9 percent and another one which belongs to the workers, was nowhere to be seen as Nationwide is the custodian of this share. The question we are asking now is that who sold our share as the workers?”