By Mike Puia
THE Solomon Islands National Provident Fund (SINPF) is considering its options on the future of Tavanipupu Island Resort a well-known resort in Marau, on Guadalcanal’s eastern tip.
The SINPF, now owner of the popular property since June 30, 2017, is looking at running the resort as a new business or sell it.
Currently a new resort manager has been recruited from Fiji to manage the resort since late December 2017.
SINPF’s General Manager and Chief Executive Officer, Mike Wate, said since foreclosing the loan to TIR in 2015, the Board has finally acquired and the titles of the resort are registered in its name.
This was after a long period of two years since the foreclosure.
Wate made the clarification when responding to claims owners of Tavanipupu resort have not repaid the $24.4 million loan SINPF provided. As a result, SINPF lost millions of dollars.
Wate said the SINPF has acquired the property (resort) and the property is valued to about $30 million.
“We only close the loan book as of 30 June 2017.
“The Fund now looking at options to run the resort as a new business or sell it.”
