The board

Comrade Trustee Services Limited (CTSL) is managed under the direction of the board of directors.

The board has eight directors: three representatives of the Fund (two contributors and one pensioner) and five independent directors. See the current members below.

The role of the board

Collectively, the board members plan, oversee and set corporate goals, and decide on the strategic direction of the Fund.

The board is responsible for the Fund’s corporate governance, including:

  • corporate planning
  • establishing goals for management
  • monitoring achievement of these goals.

Read more about good corporate governance.

Criteria for board members

All board members must meet strict criteria, including a ‘fit and proper’ test, to ensure that they:

  • are legally eligible
  • have the necessary skills, knowledge, experience or expertise in managing commercial entities
  • can add value and enhance corporate governance.

Appointments to the board must be approved by the Bank of Papua New Guinea (the Fund regulator).

Directors hold office for three years. After this, they may nominate for re-election subject to any restrictions in the company constitution and approval by the Central Bank.

CTSL Board Members

Members of the Board


Paul M. Nindipa

Independent Director

Appointed to the Board on 1 January 2015. Mr Nindipa is a Certified Practising Accountant (CPA) and a Partner with NKA Chartered Accountants. He has more than 24 years experience in various accounting, audit, taxation, receivership and liquidation areas. He is currently on the board of several foreign-owned companies and also serves on certain PNG companies and state-owned entities.

Mr Nindipa holds a Bachelor of Commerce from the University of Otago, New Zealand. He is a member of the PNG Institute of Directors and Council member of the CPAs of PNG. He also serves on the board of Accountants Registration Board (ARB) and other non-profit organizations.


Retired Colonel Fred Aikung, LSGCM, OBE

Non-Independent Director

Appointed to the Board on 1 January 2015, Col. Aikung represents pensioners of the Fund. During his years of service, Col. Aikung has held several senior positions within the Defence Force, including Chief of Logistics, a role he held until his retirement in 2002. He was also Acting Commander of the PNGDF during the Sandline Crisis in 1997.

Col. Aikung holds a degree in Mechanical Engineering from the University of Technology, Lae and a Diploma in Military Strategy from Melbourne Australia. He is a member of the PNG Institute of Directors.


Michael Varapik

Independent Director

Appointed to the Board on 11 November 2011. An accountant, Mr Varapik has extensive management, corporate, financial, operations and marketing experience spanning over 35 years in the private and public sectors. He is currently a director on the Board of Toea homes Limited, a 100% subsidiary of CTSL and People’s MicroBank Limited.

Mr Varapik holds a Bachelor of Technology in Accountancy from the PNG University of Technology, a Bachelor of Business from Deakin University, Australia, and an MBA from the International Management Centres, Oxford Brookes College in the UK.
A member of the PNG Institute of Directors, Mr Varapik received the Male Director of the Year award in 2015 for distinguished services to commerce and business.


Moses Koiri

Chairman – Independent Director

Appointed to the Board on 20 April 2012 as an Independent Director, and as Chairman on 1 January 2015, Mr Koiri has more than 15 years of senior management experience in the private and public sectors. He is the principal partner in the Commercial Advisory section of Albatross Law Services Limited. He has a good understanding of corporate business culture, governance and business ethics.

Mr Koiri has a Bachelors degree in Law from UPNG and a Master of Law from Monash University, Australia. He was a lecturer at UPNG and has worked in management with the Bougainville Copper Mine and various Private Legal firms. He became a politician in the Autonomous Region of Bougainville.

Mr Koiri
 is a member of the Australian Institute of Directors and the PNG Institute of Directors.


Colonel Raymond Numa, DMS, MBE

Non-Independent Director

Appointed to the Board on 31 October 2014, Col. Numa represents the contributory members of the Fund. Col. Numa has served in the PNGDF for over 40 years and is currently PNGDF Chief of Staff.

Col. Numa has an MBA from UPNG, is a graduate of the Diploma and Post Graduate degree in Defence Strategic Studies, from Hawaii in the US and Massey in New Zealand. Col. Numa also holds a Diploma in Business Management and Defence Resource Management and is a member of the PNG Institute of Directors.


Captain (N) Philip Polewara, DMS, MBE

Non-Independent Director

Appointed to the Board on 24 June 2016, Captain Polewara represents the contributory members of the Fund. He served as a Naval Officer in various capacities on Landing Craft Heavy and Fast Patrol Boats as a Navigating Officer and Executive Officer. His operational experiences include the command of various Naval Units from 1992 to 2002, including security operations during the Bougainville crisis.

Captain Polewara is a graduate of the US Naval Staff College, the US Joint Forces Staff College and the US Naval Command College. He also served as an International Fellow at the Naval War College after graduating in 2013.

He has a Bachelor of Business in Public Policy from UPNG and a Master of Liberal Arts in International Relations from Salve Regina University in Newport, US.

Captain Polewara is a member of the PNG Institute of Directors.


Giau Duruba

Independent Director

Appointed to the Board on 25 September 2017, Mr Duruba is an Independent Director.

Mr Duruba has more than 20 years senior management experience in the private sector, specialising in human resources management. He held his most recent role for more than a decade as General Manager – Human Resources, Bank South Paci c Limited. Prior to that he was the Human Resources / Corporate Affairs Manager for South Pacific Brewery Limited.

Mr Duruba has a Bachelor of Economics from the University of Papua New Guinea.


Joseph Hamsen

Independent Director

Appointed to the Board on 11 August 2017. Mr Hamsen is a self-employed Engineering Consultant, specialising in projects and contracts management. He is currently Principal Engineer for Contract Control Pacific.

His previous roles include General Manager for Lihir Mining Area Landowners Association. He has worked as a Principal Engineer for the Department of Education and as Program Manager in Transport Infrastructure for PNG Sustainable Infrastructure Ltd, including managing projects for roads, bridges, airstrips and ports/jetties projects within the Western Province of PNG.

As a Project Manager, Project Engineer and Tax Credit Engineer, Mr Hamsen has experience in construction and upgrade projects stretching across the highlands, gulf provinces and regional PNG.

He has a Bachelor of Engineering degree in Civil Engineering from PNG Unitech in Lae, is a Registered Civil Engineer and Member of the Institute of Engineers of PNG.