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|About||Kumul Consolidated Holdings (KCH) is the new identity of The Independent Public Business Corporation (IPBC). Follow us and learn more.|
To enhance and transform all State Owned Enterprises to deliver premier services and economic returns.
To steer the holding entity and its respective SOEs to become proﬁtable organisations; delivering reliable, affordable and efficient services whilst adhering to good corporate governance and best practice.
IPBC’s unifying values of integrity, passion and professionalism are epitomised in one common goal: to ensure quality SOE service provision to the people of PNG. These three core values are supported by a culture of hard work and a drive for results; where individual eff orts are augmented by strong team collaborations, professional development, and informed leadership; culminating in an environment of excellence.
Kumul Consolidated Holdings was formed by the Government of Papua New Guinea under an Act of Parliament: Independent Public Business Corporation of Papua New Guinea (Kumul Consolidated Holdings) (Amendment) Act (2015). The Act is an amendment of the IPBC Act of 2002 (previously amended in 2012), for the benefit of the state, to act as the trustee owner and all-encompassing authority for the State Owned assets and enterprises documented herein.
Kumul Consolidated Holdings is the new identity of The Independent Public Business Corporation (IPBC) – a 100% State-owned Statutory Corporation. IPBC succeeded the Privatisation Commission and all assets and liabilities were transferred to IPBC after the Privatisation Act (1999) was repealed. Those same assets remain with Kumul Consolidated Holdings with the exception of the National Petroleum Company of PNG which is now Kumul Petroleum Holdings and minerals assets which is now identified as Kumul Mineral Holdings.