IPI treasury director Mafnas resigns

Frances Mafnas

Imperial Pacific International (CNMI) LLC Human Resource director Redie Dela Cruz said yesterday that she is happy to announce that IPI has continued to pay its active employees timely.

At the Commonwealth Casino Commission monthly meeting at the Springs Plaza in Gualo Rai, Dela Cruz also disclosed that IPI Treasury director Frances Mafnas has resigned.

Dela Cruz said to include the tower crane team that just on board, they have 49 active employees.

In response to CCC board chairman Edward C. DeLeon Guerrero’s questions, the HR director said the funding is coming from IPI’s parent company based in Hong Kong and that they are using a local bank for payroll.

“So far, we’ve had no issues,” she said.

With respect to furloughed employees, Dela Cruz said they remain furloughed as their new extended expiration date for the furlough is March 21, 2022 unless it’s changed otherwise.

She said as far as the inactive employees who are due benefits payout, there still remains no funding for those payouts so there is no update for that.

Dela Cruz said Treasury director Mafnas had tendered her resignation that was set to be effective Oct. 25, 2021, but they came to an agreement to transition her to work with other team members currently active.

Dela Cruz said Mafnas as of this week remains an IPI employee as the transition was extended this week.

“We’re looking at possibly extending it further. Finance is a big undertaking so we need more time to transition her matters,” she said.

Dela Cruz said they are hoping that they can come to an agreement where Mafnas would remain an IPI employee.

“But we’re still negotiating with her and transitioning,” she said.

The HR director said Mafnas’ effective date for separation was last Oct. 25, but they came to an agreement to extend this week until tomorrow (Friday), and then they’re coming to an agreement to extend it further maybe another week or two.

Mafnas told the board yesterday that what they are negotiating is to complete IPI’s 2021 audit.

She thanked CCC board and staff for all the support during her employment especially when she took over IPI’s finance or before she became the treasury director.

Mafnas said it’s a financial challenge for IPI when it shutdown casino operation.

She said it’s not only IPI got hurt with the shutdown, but the entire CNMI.

Mafnas said they are just depending on their parent company in Hong Kong, which is really tough also in trying to get funding from them.

She said it’s a challenge dealing with the vendors here coming to the office, and with all these court judgments that’s coming out that need to be paid.

On dealing with CCC monthly, Mafnas said she really loves to come at the meetings and see everyone in the commission.

“But sometimes I have no updates to share you all and that what sometimes holds me back and those are my challenges but I really do appreciate all of you, your support given to us,” Mafnas said.

In an interview, the treasury director said she resigned as she just wants to relax and enjoy.

Mafnas is a retired government employee. She has been with IPI for six years.