29th November 2016 Tonga Gas and Home Gas Ltd performed strongly in 2015/2016 with a net profit after tax of $240, 522 and with a total tax payable to Government of $40, 024 for the year end 2016.
The Company has established a new gas terminal at Matatoa to diversify the service from Touliki which has been operating since 1992. This initiative improved the Company’s wider engagement with the public and its customer service overall.
A major achievement worth noting is the completion of the annual audit inspection of Touliki terminal which is now extended for another ten years. This reflects the continuous efforts of the Board and Management in ensuring safety is uphold to a high standard in the Company.
On many fronts, the Company faces the challenge of increasing LPG storage for Tongatapu and Vava’u which sees the need to improve infrastructure to ensure the safe storage of LPG in Tongatapu and the outer islands. By increasing the size of the storage facility, Tonga Gas Ltd can reduce its operational costs including the round trips made by the LPG gas tanker to Tonga every month.
We would like to indicate that the need for a 5 tonne road tanker is noted as a significant investment for the Company. The 5 tonne road tanker is to be used in refilling the 6 tonne tank at Matatoa from Touliki leaving the current road tanker to be used for our customers. This is a critical requirement which will improve the provision of LPG distribution to the customers.
On behalf of the Board of Directors, I would like to thank all of the Tonga Gas Ltd and HomeGas Ltd’s management and staff for their hard work and commitment and laying firm foundations for future growth.
It is worth noting that the initiative of the combined Utilities Board by Cabinet and the Ministry of Public Enterprises brings a balance of financial and technical knowledge to the Company which is critical for the growth of the gas business in Tonga.
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Issued by the: Tonga Power Ltd