Solomon Islands Broadcasting Corporation

Accountable Ministers

Minister for Finance and Treasury and the Prime Minister

Responsible Minister
Prime Minister

Board of Directors

Alpheaus Zobule	Chairman	10/06/2021
Malcolm Kuper	Member	9/03/2025
George Rausi	Member	9/03/2025
Andrew Daka	Member	9/03/2025
William Parairato	Member	8/04/2020
Dr. Jack Maebuta Harry Zoleveke	Member Member	1/11/2022 1/11/2022

Activities
The Solomon Islands Broadcasting Corporation (SIBC) is a state-owned enterprise established by the Broadcasting Act 1976 to provide a broadcasting service, by radio, of a wide range of programs for the information, education and entertainment of all people living in the sovereign borders of the Independent State of Solomon Islands.

As a state-owned enterprise, it is also subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010.

SIBC is governed by a board of directors that is responsible to the Accountable Ministers, being the Minister of Finance and Treasury. The Responsible Minister is the Prime Minister.

Vision and Mission
The SIBC is the main channel by which the Government of Solomon Islands enables the provision of information and education services to the communities, including up-to-date information and different perspectives on matters affecting their quality of life, livelihoods, cultural well-being, health, safety and security in times of emergency or disease outbreaks and development generally. The SIBC remains, for the majority of people in most communities, the main provider of worthwhile and relevant information for their educational, livelihood and personal objectives. These include cultural, sporting, religious, commercial and community objectives.

Community Service Obligations
SIBC received SBD2.5million in 2017, SBD2 million in 2018 and 2020, SBD1.6 million in 2019 and SBD1.4 million in 2021. These payments are to compensate for the provision of government radio programs, including emergency services where the advertising revenue is insufficient to cover the costs of services. The CSOs were subject to a contract with the Ministry of Finance.

Financial Highlights

Financial Highlights (SBD ‘000)	2017	2018	2019	2020	2021	5-yr Average
Revenue	9,462	10,331	10,231	10,510	9,872	10,081
Net Profit After Tax	-347	1,192	577	856	471	550
CSO payments	2,500	2,000	1,600	2,000	1,400	1,900
Total Assets	36,270	36,905	36,814	31,177	32,059	34,645
Total Liabilities	1,975	1,418	849	730	1,142	1,223
Shareholders Funds	34,295	35,487	35,964	30,447	30,917	33,422
ROE %	-1%	3%	2%	3%	2%	2%
ROA %	-1%	3%	2%	3%	1%	2%
Asset Utilization	26%	28%	28%	34%	31%	29%
Cash / Current liabilities	0.386	1.435	2.862	5.662	2.531	2.575

SIBC average revenue collection for the 5 – years period is $10.08 million SBD; the revenue trend highlights that SIBC has constantly collect similar collection each year. However, based on profits trend SIBC has an average of $550,000 each year of the 5-year period. Unlike for 2017 SIBC has incur a loss of less than a Million SBD which attribute from higher cost and expense in 2017 compared to revenue collected. Total asset of SIBC has grown steadily during the 5-years period with an average of $34.65 million SBD. Average Return on Asset and Return on Equity for SIBC for the 5-year period is 0.02 (2%), however based on each year, in 2017 SIBC recorded a negative ROE and ROA which attributes from the loss incurred in 2017. Hence negative ROE and ROA indicates that SIBC has not able to efficiently utilize its assets and equity capital to generate income in 2017. After 2017 SIBCs ROE & ROA slowly increase back to positive ration as highlighted on the trend, which is a clear indicator that SIBC has now able to efficiently utilize its assets and equity capital in generating of profit.

Important Documents

SIBC Financial Statements: 2014 I 2016 I 2017 I 2018

Statement of Corporative Objectives

Annual Report: 2017

Website

www.sibconline.com.sb