Directors retire from Oil Search board, Kina Securities appoints a new non-Executive Director, and the new Vice-Chancellor of the University of Natural Resources and Environment arrives
Kina Securities
Trade Minister Richard Maru wants trade issues with Fiji resolved this month, UBS buys into Kina Securities, and ANZ offers debit cards in PNG.
Trade Minister Maru says he will recommend the government abandon its proposed rice policy, Bougainville landowners want government to hold its BCL shares, and Fiji says there are no bans on PNG imports. Your weekly digest of the latest business news.
Two directors resign from Credit Corporation, Kina Securities appoints an Executive General Manager, Wealth, and Oceanie Lawyers merges with Holding Redlic
A new board at K92 Mining, Director re-elected at Kina Securities, new CFO at ANZ , Melbourne
2013 was a mixed year for PNG stocks. The Kina Securities Index fell by 14.9% over the year, but was largely influenced by the massive fall in value of the dual-listed Newcrest Mining, the largest company on the Port Moresby Stock Exchange (POMSoX). The Kina Securities Home Index, which excludes overseas stocks, fell only 2%.
After strong performances in 2009 and 2010, the Port Moresby Stock Exchange (POMSoX) experienced a tough 2011, as did many bourses around the world.