Mr Peter Johnson Reports on the Deplorable Financial Situation at the Wewak Yacht Club

June 19, 2009 at 1:33 am (Papua New Guinea, Wewak) (, , , , , , , , )



     At an annual general meeting of the Wewak Yacht Club on 28  March, the Commodore, Mr Jack Matthews, told members that theft and irregularities had been reported to the police, and that “police would investigate after the arrival of a new PPC.” 

     It has been claimed that up to K1.2 million has been lost or stolen from the Wewak Yacht Club of which Prime Minister Sir Michael Somare is patron, and at which he frequently entertains visiting dignitaries.   Sir Michael is said to be much distressed with the current situation.

         In his report to members, Mr Matthews said “some members owe the club money…and have behaved in a deceitful manner!” We have no records to pursue this matter, as the former manager, Mr Christopher Liversidge, had reported the club’s two computers recently stolen, he said, the Club Honorary Treasurer, Mr Glen Williamson, resigned from  his position after only two or three months service.   He cited “difference of opinion with some senior committee members” as  reason for his early departure. 

     One long-time member told Post-Courier that the club had annual takings of approximately K1 million.   Gross profits over the past three years had been 14%, 4% and a loss in 2008/09.   This  was indicative of annual cash deficiencies  of K260,000, K360,000  and perhaps K500,000.   (Greater losses than last year’s big bank  robberies!)

     The Commodore said the Wewak Yacht Club owes the Internal Revenue Commission K56,000 and K57,000 to local traders… the  Club has K2,117.09 cash on hand!   “I have no financial report, no treasurer’s report or auditor’s report to present to you!”  said Mr. Matthews.  

     Stunned members voted to return an unchanged committee for a further three month period to allow for investigations, administrative and management upgrades and proper reporting to members on 27 June, 2009…a “bar-fly” is said to have retorted, “and by that time someone should be in Boram kalabus!”


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