Solomon Islands Postal Corporation

Accountable Ministers

Minister for Finance and Treasury and Minister for Communication and Aviation

Responsible Minister
Minister for Communication and Aviation

Board of Directors

Director Position Expiry
Patrick Taloboe Member 10/10/2014
Robert Bokelema Chairman 10/10/2015
Christian Alan Siale Member 10/10/2015
Georger Selwyn Kiriau Member 16/09/2015
Benjiman Oatasia Member 16/09/2016
Mr. Gideon Zoleveke Member 16/09/2016


Activities

Solomon Islands Postal Corporation (SIPC) is a state-owned enterprise established by an Act of Parliament in 1996 to provide postal services within Solomon Islands and to other countries.

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

SIPC 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 for Communication and Aviation, currently Minister.

Vision and Mission
SIPC’s vision is to “be a trusted leading provider of world-class postal services and other related innovative services and to be recognized as the best model of SOE in the South Pacific”. Its mission is to “provide high quality and modern postal services within Solomon Islands and other countries, carry on any business or activity relating to postal services to bridge customers, provide telecommunications, value added services including electronic mail, electronic data interchange, internet services, electronic funds transfer services, financial services, e-commerce services and any other appropriate or related services for customers’ better life”.

Community Service Obligations

SIPC received in SBD1.9 million in CSO payments for 2015 and 2016. These CSOs are for the provision of postal services to 8 provincial post offices (Auki, Buala, Gizo, Kirakira, Lata, Munda, Tulagi and Taro). The CSOs were subject to a contract with the Ministry of Finance.

Financial Highlights

(SBD ‘000)   2013 2014 2015 2016 2017 5-yr Average
Revenue 10,155 12,097 10,753 13,345 17,922  12,854
Net Profit After Tax -3,058 -676 -1,487 962 3,669 -1,970
CSO payments 1,000 2,233 1,900 1,930  1,413
Total Assets 20,190 27,195 29,249 29,333 36,430  28,479
Total Liabilities 79,458 79,158 78,136 77,258 80,606  78,923
Shareholders Funds -59,268 -51,963 -51,963 -51,963 -44,175 -51,866
ROE %
ROA % -5.1% -6.7% -19.2% -10.2% 10% -8.2%
Asset Utilization 50% 44% 37% 45% 49% 45%
Cash / Current liabilities 1.327 0.390 0.012 0.015 0.061 0.361

Important Documents

  • SIPC Annual Accounts: 2016 I 2017
  • SIPC Statement of Corporate Objectives

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