Solomon Islands Ports Authority

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Accountable Ministers

Minister for Finance and Treasury and Minister for Infrastructure Development

Responsible Minister
Minister for Infrastructure Development

Board of Directors

Director Position Expiry
Harry Kuma Chairman 20/12/2021
Johny Sy Deputy Chairman 1/02/2019
Stephen W Maesiola Member 20/12/2021
Michael Wate Member 20/12/2021
Jimmy Nuake Member 1/03/2021


Activities

Solomon Islands Ports Authority (SIPA), is a State-owned Enterprise established under the Ports Act 1956 (amended in 1996) to operate the ports of Honiara and Noro. SIPA is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010.

SIPA is governed by a board of directors that is responsible to the Accountable Ministers, being the Responsible Minister and the Minister of Finance. The Responsible Minister is the Minister of Infrastructure Development.

Vision and Mission
SIPA’s mission is “to become the hub port of the South Pacific”.

Financial Highlights

(SBD ‘000) 2013 2014 2015 2016 2017 5-yr Average
Revenue 98,145 107,273 135,401 240,839 215,023  159,336
Net Profit After Tax 1,205 -6,549 26,327 122,653 84,741  45,675
CSO payments 0 0 0 0 0  –
Total Assets 379,743 389,348 415,974 696,579 778,750  532,079
Total Liabilities 19,909 19,201 19,502 187,454 184,884  86,190
Shareholders Funds 359,834 370,146 396,472 509,125 593,866  455,889
ROE % 0.3% -1.8% 6.6% 24.1% 14% 8.6%
ROA % 0.3% -1.7% 6.3% 17.6% 11% 6.7%
Asset Utilization 26% 28% 33% 35% 27.6% 30%
Cash / Current liabilities 2.678 1.470 3.136 11.422 13.348 6.41

Important Documents

  • SIPA Financial Statements: 2014 | 2015 | 2016 I 2017
  • SIPA Statement of Corporate Objectives

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