PETROMIN NEWS

Richard Tengdui Joins Petromin Board

A Senior Papua New Guinea Accountant Richard Tengdui has been appointed to the Board of Petromin PNG Holdings Limited.
He was appointed a Non-Executive Director for a 3 year term, beginning 5 May 2010.
Mr Tengdui was nominated for appointment by Chairman of the Petromin Board, Brown Bai, based on his performance as independent external member nominated by Certified Practicing Accountants of PNG to the Petromin Audit & Compliance Board Sub-committee.  Mr Tengdui was appointed after being cleared under the Fit & Proper Guidelines for Appointment of Directors by the Manager of the Petromin Trust (independent adviser to the Trustee Shareholder). The appointment was made early this month by the Petromin Trustee Shareholder, the Prime Minister.
Mr Tengdui is from Western Highlands Province. He is a registered public accountant, registered company auditor, registered liquidator and registered tax agent.
Mr Tengdui has a Bachelor of Accountancy from the PNG University of Technology and a Post Graduate Diploma in Accounting & Financial Management from the University of New England, in New South Wales, Australia.
His career as an accountant began in 1981 when he joined with Coopers & Lybrand where he was involved in audit accounting, liquidation and taxation matters.  Later he became Financial Controller of Timbersales PNG Ltd in Rabaul and he is currently the Principal of Tengdui and Associates Certified Practicing Accountants which he started in 1990. An active member of the Certified Practicing Accountants of PNG, Mr Tengdui has been past president of the PNG Institute of Accountants (now CPA) Lae Branch, and Mt Hagen Branch. He is a former Member of the Accountants Registration Board of Papua New Guinea.
Mr Tengdui has carried out several successful audits of State owned institutions including the Coffee Industry Corporation, the PNG Forest Authority, the Cocoa Board of PNG and the PNG Medical Research Institute.
In the resource industry in Papua New Guinea, Mr Tengdui has experience with Hides Gas Landowner and Ok Tedi Landowner Companies.
In welcoming Mr Tengdui to the Board, Petromin Chairman Brown Bai said Mr Tengdui’s wealth of experience in accounting, auditing and taxation will greatly enhance the Boards ability to make balanced investment and management decisions.