At a time when many companies in Papua New Guinea are cutting back, Goodman Fielder is looking to ramp up its operations. Jean-Michel Lejeune, General Manager at Goodman Fielder PNG, tells Business Advantage PNG how the PNG subsidiary is looking to expand.
The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian Development Bank (ADB). The ADB’s Outlook 2016 paper on the Asian region says PNG’s debt servicing costs are likely to rise.
Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.
Raymond Chin, Managing Director of CHM Group, tells Business Advantage PNG that when he started two businesses, one was a hobby and the other ‘real’. He was in for a surprise.
Running a manufacturing business in Papua New Guinea is like being a farmer, Managing Director of SP Brewery, Stan Joyce, tells Business Advantage PNG. There are good years and there are difficult years.
The new Stanley Hotel in Port Moresby will operate on a scale not seen before in Papua New Guinea, General Manager Geoff Haigh tells Business Advantage PNG. He says once all stages of the project are completed customers will not have to leave.
Papua New Guinea’s agriculture export income in 2015 was less than half 2011 levels, according to data from Bank Papua New Guinea’s latest Quarterly Economic Bulletin. Income from palm oil exports was at its lowest level since 2009, coffee sales were less than half the level of four years ago and income from rubber exports almost halved in a year.
Economic conditions in Papua New Guinea may be challenging but Michael Kingston, Chief Executive of diversified manufacturer K K Kingston, tells Business Advantage PNG that the company’s diversified operations give it some strategic options. He also says a weaker exchange rate may also open up opportunities.
Difficult economic conditions can be a time for committed companies to expand market share and establish themselves for the long term. Mikael Ruben, Managing Director of paint manufacturer AkzoNobel tells Business Advantage PNG his company sees the need to remain aggressive in Papua New Guinea.
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.