19 Sep 2014

Profit surges for two Samoas' cable company

3:59 pm on 19 September 2014

The company which manages the undersea fibre optic cable that connects American Samoa and Samoa to Hawaii, has announced a profit nearly double what it earned in 2012.

The company, American Samoa Hawaii Cable, made 1.5 million US dollars in 2013, compared with 853,000 the previous year.

The American Samoa government owns a third of the cable company, with an investment of 9 million dollars.

The majority shareholder is Elandia, the parent company of BlueSky Communications.

The Governor, Lolo Matalasi Moliga, says no decision has been made on what to do with the Government's investment and its share of the dividend.

He says there is a recommendation they roll over any income earned to facilitate plans to extend the life of the existing cable.