1 Apr 2010

American Samoa govt yet to receive a dividend from ASHC

11:25 am on 1 April 2010

The American Samoa Government has yet to receive a dividend from the company, which manages and operates the undersea fiber optic cable, American Samoa Hawaii cable or ASHC.

Members of the House Budget and Appropriations Committee are trying to find out if a dividend was paid as certain bills now pending in the House are to be financed with earnings from the cable company.

Representatives have not forgotten statements by ASG and company officials that ASHC is to make its first payment of more than 200,000 US dollars around February March of 2010.

Treasurer Magalei Logovii testified at a committee hearing today that ASHC had not made a payment and was also unaware that ASG was to receive any payments form the company.

The committee was reviewing two bills which would appropriate proceeds from the ASHC dividend for feasibility studies for disaster related infrastructure.