Analysis

New personal property act details security interests in Papua New Guinea
OBG
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The new personal property security registry (PPS Registry) went live on May 9, 2016. The Personal Property Security Act 2011 (PPS Act) was gazetted and came into operation on May 4, 2016 and the regulations made under that act (Regulations) came into operation on May 5, 2016. The PPS registry is fully electronic, and will receive notices of security interests and the interests of execution…

Analysis

Retail
OBG
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The Company City Pharmacy Limited (CPL) Group is a leading retailer in PNG and has a combined retail operation of 64 stores nationwide. It employs 3700 people, of which 97% are Papua New Guinean citizens. CPL’s retail network spans health and beauty chains, supermarkets, hardware stores, coffee shops, a multiplex cinema, a clothing company and duty-free shops. Established in 1986, CPL started…

Analysis

Financial services
OBG
plus

The Company Credit Corporation (CCP) commenced business in 1978 as a general finance company. CCP specialises in providing a range of financial products, including chattel mortgage, lease finance, variable rate contracts and insurance premium funding, and it also offers attractive investment facilities. In addition, CCP manages and owns a portfolio of prime real estate assets. The general…

Analysis

Financial services
OBG
plus

The Company Established in 1985, Kina Securities (Kina) is a diversified financial services provider offering financial solutions including savings accounts, small business loans, investments, mortgages, stockbroking and financial advice, investment management and fund administration. Kina saw its net assets grow by 146%, shifting the company into a dynamic, diversified financial services…

Analysis

Mining
OBG
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The Company Newcrest Mining (NCM) is an Australian-based company engaging in the exploration, development, mining and sale of gold and gold-copper concentrate. NCM emerged from the merger of Newmont Australia and BHP Gold in 1990. Newcrest has been listed on the Australian Securities Exchange since 1987 (initially as Newmont Australia). Newcrest also listed on the Port Moresby Stock Exchange…

Analysis

Agro-industry
OBG
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The Company New Guinea Islands Produce Agmark (NGIP Agmark) is a diversified agri-business based in PNG and operating plantations, coastal shipping, hardware, machinery, trucking, logistics, stevedoring, retailing, engineering, and property development and investment. Headquartered in Kokopo, East New Britain Province, it was formed due to the amalgamation of two companies, New Guinea Islands…

Analysis

Oil and gas
OBG
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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…

Analysis

Papua New Guinea's debt market to benefit from reforms
OBG
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Like the equity markets, the debt markets in Papua New Guinea are set for a major overhaul. Work is being contemplated and being done, with World Bank support, on the relevant market infrastructure, regulators and regulations, and the processes and procedures for the issuing and trading of securities. The debt markets at the moment are largely over the counter (OTC) and manual, with a low level…

Overview

Investors drawn to Papua New Guinea's primary sector
OBG
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The landscape for trade and investment in Papua New Guinea has undergone substantial changes in recent years. This shift has been driven to a large extent by the country’s large liquefied natural gas (LNG) project, PNG LNG. The development comprises gas production and processing facilities, with its initial phase carrying an estimated cost of $19bn, an investment greater than the country’s…

Overview

Papua New Guinea gets ready for 2017 elections amid falling global commodity prices
OBG
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A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom has been rapidly followed by a major downturn, and as a result the government has come under some pressure. Meanwhile, this young country, a land shaped by its many ancient traditions,…