Businesses in Papua New Guinea seeking to establish a presence in the Asian region are increasingly looking at Singapore as a stepping-stone to expand their market reach or increase their shareholder base. There is also growing interest from Singapore-based businesses looking at the PNG market.
With Papua New Guinea’s soon-to-be-completed National Transmission Network likely to bring improved internet speeds and reliability by the end of the year more PNG companies are expected to explore the possibility of selling goods and services online. Andrew Wilkins looks at the potential for ecommerce.
Financial institution Moni Plus is preparing to list on the Singapore Stock Exchange. Managing Director David Kelso tells Business Advantage PNG that the company intends to expand its shareholder base and move into new markets.
O’Neill assures students 2016 Budget will be implemented, Singapore’s Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.
The Bank of PNG has granted exemptions to some PNG insurance companies from the tight foreign exchange restrictions, to enable the general insurers to meet their reinsurance commitments to international reinsurers.
Papua New Guinea’s currency, the kina, has fallen over the last year; many are predicting it will go lower. Business Advantage PNG talks exclusively to two analysts about where the currency is headed and how it will affect business conditions.
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.
Papua New Guinea’s central bank has moved to stop offshore foreign banks, which don’t operate in PNG, from foreign exchange trading in the Kina.
Papua New Guinea finance company Moni Plus is in expansion mode, after launching a state-of-the-art online foreign exchange service earlier this year.
Munro and Kay switch to Oil Search