Ownership Of P-NG

Hotels May Be Clarified Soon

Not much has been heard in cent months about the develop ed of the situation created in ew Guinea last year by the re ganisation of the group of com mies called HAM AC Ltd. But ere may be some changes in ' 64 . i NUMBER of assets controlled by the companies within the \MAC group were disposed of in rious ways.

The most important asset probably is the chain of hotels—Cecil, Lae; iroka Hotel; Wau Hotel—known Morobe Hotels Limited. This entually came into the control of irns Philp interests, through a iceivership approved by the preme Court. The hotels have en well managed by BP nominees, d are definitely profitable; and it reported that the time is approach l when their profits will have :ared up the Burns Philp debt, and ly may pass into some other ntrol.

It is a complex situation.

It was reported last year that crests connected with Sangara tnited and Sandy Creek Limited irmerly New Guinea gold-mining rporations) would come into the :ture once the Receivership was charged; and that the well-known tsmopolitan Hotel, in Rabaul, is some way affected by the situa n.

Interest in Sangara Reports from New Guinea in tiuary said that a Sydney finance rporation, which is under the rewd guidance of a man well own in New Guinea, had recently quired a substantial interest in ngara and that he—or his com ny might presently appear, •ough Sangara, as a party interested the future of the New Guinea tels.

New Guinea people, generally, pe that, from among these vague d hush-hush reports, some finite plan for the development of tels will emerge which can take re of a steadily growing volume business and tourist traffic. Some w hotels have taken shape in the irritory recently, but none on a lie likely to attract tourists.