Category: Uncategorized

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Thinking big: A new state strategy should see more support for SMEs

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  The government of Papua New Guinea has rolled out a new plan to support small and medium-sized enterprises (SMEs) by improving access to finance and training. Unveiled in February, the SME Policy and Master Plan 2016-30 sets out objectives to expand the economy and create employment outside of the main population and trade hubs. The package, slated to receive PGK200m ($68.3m) worth of funding per annum, aims to create 2m jobs over the next 14 years. To achieve this, the number of SMEs is projected to increase 10-fold to 500,000, with local ownership of businesses targeted to rise from 10% to 70%. SME Inclusion

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Downstream turbulence: The refining and retail segments have undergone significant changes

Posted OBG AdminPosted in Uncategorized

  Although much of the focus of the energy sector remains on the upstream segment and its investments, Papua New Guinea’s downstream segment has been making waves over the past few years. Both the refining and retail segments have undergone significant changes as members of the old guard have bowed out and new, dynamic players have jumped into the market with high ambitions. Until very recently, Singapore-based but PNG-focused oil and gas company InterOil controlled a dominating share of the domestic wholesale, retail and aviation petroleum product distribution business in PNG. This was largely the result of years of consolidation of existing infrastructure previously held

Oil Search: Oil and gas

Posted OBG AdminPosted in Uncategorized

  The Company Oil Search (OSH) has been incorporated in Papua New Guinea since 1929 and has a market capitalisation of PGK28bn ($9.6bn). OSH has a 29% interest in the PNG Liquefied Natural Gas (LNG) project, which is operated by ExxonMobil PNG. The PNG LNG project has a capacity of 6.9m tonnes per annum (tpa) that came on-stream in 2014. This project has transformed OSH into a significant oil and gas producer with a long-term, low-cost high-quality LNG revenue stream. The company also holds a significant interest (28%) in the proposed Papua LNG project, operated by Total (40.1%), which has the potential to become PNG’s

Xi Jinping-President of China

Ministries in motion: A series of ministerial moves are set to sharpen the country’s focus on the future

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In January 2016 Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, issued Emiri Decree No. 1 of 2016 and reshuffled the state’s Council of Ministers for the first time since Sheikh Hamad bin Khalifa Al Thani, abdicated in his favour in June 2013. The first Council of Ministers appointed by Sheikh Tamim three years ago was well received as ushering in a new and younger generation of Qataris. More recently, the emir has discussed streamlining state institutions and reducing overlapping functions within the government. The

Emmanuel Macron-President of France

Homes for all: Although new supply is now coming onto the market, there is a notable shortage of housing

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Despite an influx of high-end real estate developments coming on-line in recent years, rapid population growth in Qatar has created a shortage of affordable housing, particularly for middle-class families and single workers. Although the government is seeking to address the issue with plans to crack down on illegal housing and relocate workers to areas outside of Doha proper, over the shorter term affordable units are expected to remain in short supply, creating opportunities for both new builds and redevelopment of existing residential areas. Population Growth

Pham Hong Hai-CEO-HSBC Vietnam

Mutual benefits: Joint ventures remain attractive for foreign firms

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Although Qatar’s construction pipeline is valued at $200bn, the industry faced challenges in 2015 as falling global oil prices and international volatility affected government revenues and expenditure. Despite the huge array of opportunities on offer, foreign construction companies have faced challenges. This presents a number of new opportunities for domestic firms, many of which have partnered with foreign contractors to develop larger infrastructure projects, including the Doha Metro and major roadworks. These local firms offer first-hand knowledge of the Qatari market, while they benefit from knowledge transfer which supports growth of domestic human capital, as emphasised under the Qatar National Vision 2030 (QNV 2030) development

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

A beneficial relationship: Guidelines and requirements for joint ventures

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Joint ventures (JVs) are a common corporate structure chosen by contractors in Qatar. Two companies interested in pursuing a project together often form a JV to increase their chances of being awarded the contract and to share the cost and risk of performing it. (Modafinil) The JV structure provides companies with the opportunity to bid for projects they would not otherwise have been technically or financially capable of tendering for. Types Of JVs Qatari law recognises particular forms of companies and sets out the rules that apply to each of them. Article 4 of the Commercial Companies (Law No. 11 of 2015) states: “A company

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Off the beaten track: The tourism sector can offer visitors new experiences

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A significant segment of the tourism business is focused on water vessels, ranging from large luxury cruisers to recreational yachts. According to the Central Statistical Office (CSO), cruise ship passenger visits to Tobago more than tripled in 2015, rising from 16,159 in 2014 to 56,220, indicating that cruise ship tourism is emerging as a major growth area. (Zolpidem) On The Up & Up The background to Tobago’s performance was a broadly positive year for tourism across the Caribbean as a whole, boosted by a combination of low oil prices and a strong US dollar. Overall, cruise arrivals across the Caribbean grew by 1.3% to 24.4m,

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

We need to talk: Debate continues over the future role of over-the-top services

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As a small country with a large diaspora, Trinidad and Tobago has been a rapid adopter of voice over internet protocol (VoIP) to communicate with overseas friends and family. VoIP is just one form of over-the-top (OTT) content that includes audio, video or other media delivered over the internet without involvement from the network operator. One of the first OTT companies to make a major impact on the market was Skype, which popularised VoIP audio and video calls and was acquired by Microsoft in 2011 for $8.5bn. Since then other companies have entered the OTT messaging and calls market, including WhatsApp, Viber and Apple’s FaceTime.

Stuart Tait-Regional Head of Commercial Banking-Asia Pacific

Embracing renewables: Confronting the reality of climate change has become a priority for the Sultanate

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Although its dominant oil and gas sector will likely remain at the forefront of economic growth over the medium term, Brunei Darussalam has prioritised sector diversification and development of renewable energy projects in recent years, as highlighted by the 2014 “Energy White Paper”, as well as a climate change plan released prior to the COP21 UN Conference on Climate Change, hosted in Paris in late 2015. These policies outline an ambitious long-term renewables development strategy emphasising solar projects, private sector participation, and a significant reduction