Traditionally a producer of beverages, spirits, liquors, juices and coffee, Vitis Industries is now producing its own range of beers. Already two are on the market, with another five about to go on sale.
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With Papua New Guinea’s soon-to-be-completed National Transmission Network likely to bring improved internet speeds and reliability by the end of the year more PNG companies are expected to explore the possibility of selling goods and services online. Andrew Wilkins looks at the potential for ecommerce.
Bank of Papua New Guinea negotiating with ‘partners’ about foreign exchange, Oil Search to address competition issues and Travel Air to resume operations. Your weekly digest of the latest business news.
New directors appointed at KPMG PNG, Indochine Mining, and a retirement at Nautilus Minerals.
Financial institution Moni Plus is preparing to list on the Singapore Stock Exchange. Managing Director David Kelso tells Business Advantage PNG that the company intends to expand its shareholder base and move into new markets.
The search for new business avenues sees Port Moresby’s Collins Shipping teaming up with Chinese maritime researchers to do a voyage to the bottom of the sea. And there’s the prospect of a new adventure tourism activity. Kevin McQuillan reports
Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.
A new board at K92 Mining, Director re-elected at Kina Securities, new CFO at ANZ , Melbourne
O’Neill assures students 2016 Budget will be implemented, Singapore’s Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.
Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’