In late 2021, PNG’s largest superannuation find, Nambawan Super, increased its holding in Paradise Company Limited, owner of Paradise Foods and Laga Industries, to 100 per cent. Michael Penrose, Paradise’s CEO, tells Business Advantage PNG how the fund’s support is helping the food manufacturer expand.
The World Bank announced new program and generous funding for Papua New Guinea agriculture sector, call centre launched for the 2022 elections and the Civil Aviation Development Investment Program eyes phase 2. The business news you need today.
Credit Corporation (PNG) announces resignation of Board Director, Laga Industries welcomes new National Sales Manager.
Galip nut industry taking off, Horizon Oil reports strong quarter, and two online marketplaces launched. Your weekly digest of the latest business news.
The sluggish Papua New Guinea economy is triggering a bout of rationalisation, two of the recent examples being in the banking and manufacturing sectors.
In the second of a two-part series, Steamships Managing Director Peter Langslow tells Business Advantage PNG that his diversified company is looking to upgrade its manufacturing activities, upgrade more hotels and is planning more property development in Papua New Guinea.
The next 12 months or so is a time to digest and consolidate, says Peter Langslow, the incoming head of one of Papua New Guinea’s largest and oldest companies, Steamships Trading Company. He told Business Advantage PNG, however, it is also a time to prepare for fresh opportunities.
Papua New Guinea’s potential as a market for ice cream will be put to the test when Laga Industries completes a significant expansion of its Gala manufacturing facilities in Lae later this year.
There is no question that Papua New Guinea’s manufacturers-which account for about 9% of the country’s GDP – have been caught up in the general downturn in the country’s economy, with a combination of lower investment in the mining and petroleum sectors, lower commodity prices and a stronger currency slowing growth and reducing domestic demand.
GM of Laga Industries set to leave plus new diplomatic postings.
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