21 Nov 2005

Company owner says its dumping from RIPEL in Solomon Islands will turn off investors

3:10 pm on 21 November 2005

The company being dumped from the management of a Solomon Islands cocoa and coconut producer says its treatment will undermine the government's efforts to attract foreign investors.

Sydney based International Comtraders has been running Russel Islands Plantations Estates Ltd, or RIPEL, which has been closed for 16 months as workers pushed for the general manager to be sacked.

The Trades Disputes Panel has ruled in the workers' favour and International Comtrade is in the final stages of selling its stake.

Its owner, Patrick Wong, says it is unheard of for workers to demand senior staff or the investors themselves be dumped.


IN:......Now they can then do that for anything, the oil palm tomorrow or five/ten years down the road. They can do that for the gold mine - just to name a few. They can do it for anybody. Who would want to re-invest in such as environment? I mean there must be proper governance and due diligence and proper systems put in place.