Before the onset of the Second World War, an Agricultural officer named Frank Henderson based at Talasea recognized the potential of an area of land known as the 'Mosa block' for agricultural development. However, subsequent events precluded any early development of the area. Immediately after the war, any available investment funds were directed to more urgent needs and the north coast of West New Britain remained undisturbed by any formal development. By the 1960's Frank Henderson had risen to the post of Director of Agriculture in Port Moresby, and being aware of the unrealized agricultural potential, set about acquiring land on behalf of the Administration for development both in the Highlands and the New Britain coast.
NBPOL's provincial headquarters are located in Kimbe. Operations were relocated from Talasea to Kimbe as it was the ideal location for an international wharf to be constructed. The population in the 'Mosa block' was estimated at about 2 persons per square kilometer. Land was made available to the new Company under agricultural leases for a term of 99 years.
| Historical Timeline |
| 1965 |
Harrisons & Crosfield (H&C) sent Tom Fleming to investigate prospects of acquiring land in the Highlands for tea plantations and land for oil palm on New Britain. Availability of investment funds resulted in the selection of the oil palm project ahead of the tea plantation scheme. |
| 1967 |
Following further visits to PNG and Australia by H&C personnel, the House of Assembly in Port Moresby passed the Palm Oil Industry (New Britain Agreement) Ordinance in May 1967. The Company was registered on May 19, 1967 as New Britain Palm Oil Development Limited with the Administration and H&C each holding 50% of the capital.
Two wholly owned subsidiary companies were also formed in accordance with the legislation, Mosa Oil Mill Pty Ltd and Mosa Plantation Pty Ltd. |
| 1968 |
NBPOL planted its first oil palms at two sites, Bebere and Dami with a projected area of 1300 hectares. The same year a plant breeding and seed production facility was established at Dami based on genetic material sourced from Banting, Malaysia. |
| 1971 |
In July 1971, NBPOL's first oil mill was commissioned at Mosa. |
| 1972 |
The Company continued to expand with the development of plantations at Kumbango. |
| 1975 |
The Administration's shareholding was transferred to the Independent State of Papua New Guinea at the time of Independence.
The first commercial oil palm seeds from the plant breeding and seed production facility were produced. |
| 1979 |
The Company continued its expansion with development at Togulo plantation. |
| 1981 |
The Company diversified its operations in 1981, with the acquisition of 2 coffee plantations at Koban and Kamarl near Banz in the Western Highlands Province. |
| 1982 |
The expansion continued with development of plantations at Navarai and 3 years later (1985) at Malilimi. |
| 1984 |
The Company established a coffee exporting facility in Lae, known as Kundu Coffee Exports. |
| 1991 |
The Kapiura group of plantations and mill were acquired by NBPOL from Harrisons and Crosfield plc (70%) and the Public Officers Superannuation Fund Board of Papua New Guinea (30%), who both received shares in NBPOL as consideration. |
| 1994 |
April 1994 saw the purchase of Numundo Pty Ltd that has agricultural leases over 9,792 hectares of land, 11 kilometers west of Kimbe. Numundo then comprised 709 hectares of oil palm, approximately 1,300 hectares of coconuts and a herd of 1,300 cattle grazing under the coconut palms. Work immediately began on developing further land for oil palm cultivation and the construction of a feedlot for an intensive beef enterprise to satisfy the local market. |
| 1995 |
The wholly owned subsidiary companies, Mosa Oil Mill Pty Ltd, Mosa Plantation Pty Ltd, Kapiura Plantations Ltd and Numundo Ltd ceased trading in their own names. The names were retained because of the State Land leases. The subsidiary companies were amalgamated with New Britain Palm Oil Limited and now no longer exist. |
| 1996 |
Papua New Guinea Government privatized its investment in NBPOL. Kulim (Malaysia) Berhad acquired 80% of the company's capital with the balance being transferred to the West New Britain Provincial Government under a trust arrangement. |
| 1997 |
The Kamarl coffee plantation was sold and a suitable alternative site was sourced on which the Dami seed garden would be replicated as insurance against the possibility of volcanic eruptions. A sugar cane property at Babinda near Cairns was purchased. A wholly owned Australian subsidiary, Dami Australia Pty Ltd was formed for this venture. |
| 1998 |
Approval to proceed with the Kulu-Dagi and Inland Kove (KDIK) scheme was received from the National Executive Council on July 1st, 1988. The project utilizing customary land was to develop a further 12,000-16,000 hectares of oil palm for the Company and a further 2,000-4,000 hectares for the village oil palm growers. |
| 1998 |
(September) New Britain Nominees Ltd was formed to create a vehicle by which the Company could implement the sale of shares to its employees, outgrowers and traditional landowners under a share acquisition scheme. |
| 1999 |
Kulim decided to sell its entire shareholding of 96 million shares (80%) through an initial public offer to fulfill its obligation. The "float" process proceeded until adverse overseas perceptions caused the offer to be withdrawn following Papua New Guinea's announced intention of diplomatic recognition of Taiwan.
Another subsidiary Capital Stockbrokers Ltd (CSL) was formed with the object of becoming a foundation member of the Port Moresby Stock Exchange Ltd (POMSox). Capital Stockbrokers Ltd in Port Moresby now holds one third of the issued capital of POMSox. |
| 2001 |
NBPOL commissioned the building of the Numundo Oil Mill. |
| 2002 |
NBPOL commissioned the building of the Kumbango Oil Refinery. |
| 2004 |
NBPOL received ISO14001 Accreditation. |
