Kina Securities Ltd's unaudited net profit for the six months ended June 30, 2021, was K39.8 million. It is a 36 per cent increase over the previous similar time. The board of directors also announced an interim dividend of AU$3 per share (K8.25). In the previous similar period, the interim dividend per share was AU$4 per share or K10 per share. ...

Hon James Marape, the Prime Minister of Papua New Guinea, received an interim dividend payment of K100 million from Kumul Petroleum Holdings Limited (KPHL) in Parliament, which was delivered by the Board Chairman Prof Benedict Yaru and the Managing Director of KPHL, Wapu Sonk. When the Prime Minister received the dividend check, he congratulated Kumul ...

Oil Search today announced a strong half year result for the period ended 30 June 2021, posting a net profit after tax (NPAT) of US$139.0m and the highest free cashflow since the 2018 PNG earthquake. The Board declared an interim dividend of US3.3 cents per share, representing a payout of 49% of NPAT, in line with Oil Search’s dividend policy. “Our hal...

For the six months ending June 30, 2021, Bank South Pacific Financial Group Ltd (BSP) reported a net profit of K449.3 million, up 17.6 percent from the same time the previous year (K381.9 million). Sir Kostas Constantinou, the group's chairman, noted that the relaxation of pandemic-related domestic limitations, along with better liquidity levels in PNG...

Photo: Multiflo® mega barges on site in Brazil Dewatering is critical to a mine’s operations and more resources are being allocated to its optimisation. Traditionally, there’s been a tendency among some mine and quarry operations to view dewatering as something to be avoided at all costs – until it can’t be. Therefore, cost minimisation has been the pr...

Photo Credit: Oil Search Oil Search reported operating revenue of US$366.2 million (K1 billion) in the second quarter, up 21.5 percent from the first quarter (Q1). Other noteworthy features include: Oil output from operational fields increased by 4.6 per cent in the second quarter, owing to Moran's strong performance. PNG LNG output averaged...

Photo Credit: Kumul Petroleum - Prime Minister of Papua New Guinea James Marape has the honour as Trustee of Kumul Petroleum to handover, in a symbolic gesture funds to the value of K10 million to the Port Moresby General Hospital to support the completion of structural works for the Cancer Centre. Structural works for the Cancer Centre at Port Moresby...

Jerry Norton has been appointed as the acting chief executive officer for the Capital Insurance Group of companies, the firm announced in a statement. CIG Chairman Michael Koisen announced last week that Norton’s appointment follows the resignation of David Lee as the Group CEO. Norton was previously the CIG Group chief operating officer. The compan...

The Porgera Mine in Enga Province will continue to roll out its COVID-19 vaccination program for employees and contractors, who are currently part of the Care and Maintenance (C&M)team. When the AstraZeneca vaccine was rolled out at the mine site on the 21st May 2021, 23 volunteer employees and contractors received the jab, and to date a total of 1...

Phishing prevention has become essential as more criminals turn towards online scams to steal your personal information. Since you will likely be exposed to a phishing attack eventually, you’ll need to know the red flags.  Because scams are nothing new on the web, but phishing is harder to spot than you might think.  Across the web, phishing attacks have ...

Sexual Harassment is a problem not just for employEES but also for employERS. Did you know that there are real and significant business costs associated with Sexual Harassment? Statistics show that 1 in 5 women and 1 in 20 men experience sexual harassment in the workplace. The Business Case for Addressing Sexual Harassment In addition to the moral i...

A company that has operated in Papua New Guinea for 13 years recently announced that it has changed its name to PNG CR Services Company Limited. Previously known as the Red Sea Housing Company, it has completed 127 major projects, constructing more than 15,000 project accommodation rooms and 750 support facilities for clients such as ExxonMobil, Oil Se...

On 19 August 2020, Kumul Petroleum Holdings Limited (Kumul Petroleum) signed an MOA with the Ministry of Health and Port Moresby General Hospital to support the improvement of the Port Moresby General Hospital National Heart Centre. Today, nine months later, Kumul Petroleum follows through on this commitment with the presentation of the first set of speci...

Flat pack building specialist Ark Pacific is further expanding its business in Papua New Guinea while simultaneously exploring opportunities in both Africa and Indonesia.  The company’s growth and international business development initiatives are on the back of 10+ years’ project delivery in Papua New Guinea, primarily in the resources sector. The fir...

Photo Credit: Post Courier In the year 2020, Exxonmobil PNG has invested a total of K8.4 million in local communities through contributions, sponsorships, in-kind assistance, and community-based initiatives. Through tax credit initiatives, an additional K57.4 million was spent on local infrastructure. Despite multiple COVID-19 challenges, EMPNG's...

Weir Minerals, global leader in the provision of mill circuit technology, dewatering solutions and services, has launched the new Multiflo® MudfloTM hydraulic submersible slurry pump. Engineered for abrasive applications and large particle handling, the Multiflo® MudfloTM pump features a hydraulically driven wet-end specifically designed to efficiently an...