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OilSearch celebrates 80 years in Papua New Guinea

1 May 2009 by Leave a Comment
OilSearch Limited is PNG’s longest-established resources company, with an 80-year history of operations in the country. It currently operates all of PNG’s producing oil and gas fields and also has operations in Australia, Yemen and the United Arab Emirates. In fact, the company is still making history, announcing a record US$240 million post-tax profit for […]
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Profile: Mineral Resources Authority

1 May 2009 by 1 Comment
Effectively replacing the regulatory roles previously undertaken by the Department of Mining, the Mineral Resources Authority (MRA) was established by an act of Parliament in 2005. Key to the MRA’s success is the way it is funded. Direct funding from government coffers has been replaced by industry-generated funding. A 0.25% levy on existing mining activity […]
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Mainland Holdings: A diversified business with bite

1 May 2009 by 10 Comments
One of Papua New Guinea’s more colourful enterprises, Mainland Holdings, operates the world’s largest saltwater crocodile farm. But, as Business Advantage discovered on a recent visit to its Lae base, that is just one business unit in a rapidly-increasing portfolio. Looking at Mainland Holdings today, it’s hard to believe that this company began as a […]
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An appetite for growth

1 May 2008 by Leave a Comment
Papua New Guinea food producer Trukai Industries (‘trukai’ means ‘good food’ in tok pisin) achieved a notable breakthrough at the end of 2007 when it began exporting long-grain rice to drought-stricken Australia, in spite of the fact that PNG grows little rice of its own. The raw material is imported from Thailand then processed in […]
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Case study: nation-building with superannuation

1 May 2007 by Leave a Comment
With confidence restored in Papua New Guinea’s superannuation sector, POSF Ltd, one of PNG’s two major superannuation companies, is proactively engaged in nation-building. The ‘wantok’ system of relationships in Papua New Guinea is not only complex but is an integral part of social existence. In essence, one salary-earner may have financial obligations to as many […]
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Island life: Loloata Island Resort

1 May 2006 by 1 Comment
Business Advantage visited Loloata Island Resort, a small diving resort outside Port Moresby and asked owner Richard Knight about the challenges of running a tourism operation in Papua New Guinea. ‘When we decided to set up a resort [in 1977], the idea was to set up a diving resort. PNG has the reputation for being […]
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NASFUND: Cleaning up in superannuation

1 May 2006 by Leave a Comment
National Superannuation Fund, or NASFUND, is representative of the strong leadership now being shown by Papua New Guinea’s financial sector. It wasn’t always so, as the fund’s Chief Executive Officer Rod Mitchell tells Business Advantage. ‘In 1999, we had debts of K155 million and we had net assets of K125 million. Six years later we […]
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S P Brewery: a regional beer

1 May 2006 by 11 Comments
S P Brewery, Papua New Guinea’s major brewer, possesses one of the country’s strongest consumer brands. S P Brewery started in 1951 and launched S P Lager the following year. These days it is majority owned by Singapore-based Asia-Pacific Breweries Ltd, which also owns Tiger Beer. Minority shareholders include PNG’s two largest superannuation funds, POSF […]
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