A new CEO announced for BSP, Bougainville Copper board changes and a new divisional manager at K K Kingston.
BSP (including Financial Group)
Oil and gas exploration and production company, Oil Search, has reported a US$175.8 m profit in its preliminary annual results, a 13% fall on last year, which the company attributes to high exploration expenses.
New Britain Palm Oil Limited reported a 70.4% gross profit decrease to US$81.6m in 2012.
Business Advantage PNG spoke with the region’s three most senior bankers to get their thoughts on the year ahead.
Changes at Steamships/BSP
If foreign investors have generally been wary of investing in Fiji since the 2006 coup, Papua New Guinea has been the exception.
Halfway through the building of its major liquefied natural gas project, Papua New Guinea finds itself in a strong fiscal position, but with some key challenges.
Papua New Guinea’s strong financial services sector is becoming ever more sophisticated in servicing both the mass-market and premium ends of the market.
After strong performances in 2009 and 2010, the Port Moresby Stock Exchange (POMSoX) experienced a tough 2011, as did many bourses around the world.
Papua New Guinea firms are playing a key role in the Solomon Islands as investment floods in.