Visas on arrival to be available for Australian tourists, Morobe Governor to suspend trading licences for shops using street vendors, and corruption cases net K25 million for government coffers. Your weekly digest of the latest business news.
Maybank
The 30 per cent jump in the value of Kina Securities when it listed jointly on the Australian Securities Exchange and the Port Moresby Stock Exchange last Thursday ‘exceeded our expectations’, Chief Executive Officer Syd Yates tells Business Advantage PNG.
Papua New Guinea’s Kina Group aims to list on the Australian Stock Exchange in late July—arguably the first PNG company to undertake such a move. Business Advantage PNG talks to Chief Executive Officer, Syd Yates, about what he sees as a ‘great opportunity’ for PNG.
Kina Group is set to become Papua New Guinea’s fourth retail bank, when it takes over the Malaysian-owned Maybank (PNG) in late July, ahead of a possible stock market listing.
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.