28 Jan 2011

Samoa National Provident Fund report record profit

5:37 pm on 28 January 2011

Samoa's National Provident Fund recorded a record profit of just over 11 million US dollars for the financial year ending last June.

SNPF says it's an increase of 12.5 percent on the previous year.

It says its asset base increased by 4.2% to 173 million dollars and its financial strength is growing.

The bulk of the Fund's revenue came from lending activities with a portion from term deposits, some from rent and almost a million tala from its shareholding in two companies, Computer Services Limited and Aggie Greys Beach Resort.