New majority owner of Port Moresby Stock Exchange outlines its plans

The Port Moresby Stock Exchange has new majority owners. So, who’s behind Pacific Capital Markets Development and what are their plans for Papua New Guinea’s bourse? In this exclusive interview, one of the Principals of Pacific Capital, Frank Dunphy, reveals all to Business Advantage PNG.

People moves: Kumul Petroleum, PoMSOX

A new Chair of Kumul Petroleum and a new General Manager of the Port Moresby Stock Exchang

Asian Development Bank puts case for greater private involvement in state-owned enterprises

Increasing private sector involvement in Papua New Guinea’s state-owned enterprises (SOEs) would be a ‘powerful mechanism’ for improving the sector’s efficiency, according to a new report by the Asian Development Bank.

In brief: Inflation expected to be 6 per cent, UNDP claims ‘timely’ expenditure reporting and POMSoX trading down 43 per cent

In brief: Inflation expected to hit 6 per cent, UNDP claims ‘timely’ expenditure reporting and POMSoX trading down 43 per cent

Results of Papua New Guinea’s major companies show some struggling more than others

Recently released results of some of Papua New Guinea’s major companies indicate that the economic downturn in 2015 put significant pressure on earnings. However, while energy companies suffered most, PNG’s finance sector proved resilient.

Papua New Guinea’s Kina Securities debut share price ‘exceeded expectations’

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.

Kina Securities prospectus released with aim of raising K202 million

Ordinary Papua New Guineans will be able to apply to purchase at least some of 97 million shares in PNG-based financial services company Kina Securities. The company has just launched its prospectus, ahead of an expected listing on both the Port Moresby and Australian stock exchanges on 30 July.

Papua New Guinea government seeks to encourage more investment by opening stock exchange to more competition

Prime Minister Peter O’Neill says a planned ‘shake up’ of the Port Moresby Stock Exchange (POMSoX) will lead to more innovation and increased domestic and international investment.

People moves: Crater Gold, POMSoX, Puma

New MD at Crater Gold, Acting General Manager at Port Moresby Stock Exchange, new senior appointments at Puma

Stronger kina will affect exporters, say business leaders

The Bank of Papua New Guinea’s move to strengthen the value of the Papua New Guinea kina against the US dollar has taken business by surprise, with some business leaders saying it will impact on primary industry producers.