News

OTML Savings and Loan Society

THE Ok Tedi Mining Ltd (OTML) Savings and Loan Society will now be known as the Mining and Petroleum Savings and Loan Society (MPSLS).

With a new name that was officially launched last Thursday, MPSLS will open its membership to employees of contractor companies working with OTML.

Manager for the savings and loan societies unit of the Central Bank William Sigar launched the new name and was witnessed by the interim board members of the MPSLS, OTML acting chief executive officer Nigel Parker and financial members of the society.

MPSLS chairman Sylvester Gaso said as a result of the rebranding, the new society would now be open to employees of contractor companies associated with OTML.

 “We are very confident that this new society would grow and become very successful and competitive in the savings and loan industry,” Gaso said.

“We encourage the managers and supervisors of contractors to encourage your employees to join the MPSLS.

 “We want to assure you that the society would not only alleviate all the financial burdens your employees encounter and not only that but would also provide them an avenue to plan for a long term and sustainable financial savings,” he added.

Parker said the launching marked a new beginning for the society as it operated independently from OTML.

 “I am extremely proud that the society has been run by OTML national employees and the results are showing.”