Murray McCully National SOEs Spokesperson

31 May 2002

Answers needed from NZ Post

Explanations from NZ Post over recent changes at Maltapost are about as convincing as their explanations over their disasters in Madrid and South Africa, says National's SOEs spokesperson, Murray McCully.

"The decision to replace both directors on the Maltapost Board and the removal of the NZ Post nominee as Maltapost's chief executive appear part of a familiar pattern of botch-ups in Transend.

"This is not just another case of NZ Post's reputation and a consultancy contact on the line. In Malta, they have invested $6.5 million of New Zealand taxpayers' money in a 35 percent shareholding. They did so knowing that a select committee of the Parliament already had serious doubts about their operations in South Africa and Madrid.

"Unless a more convincing explanation is provided we will be forced to assume the worst," says Mr McCully.

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