Frieda River, a wholly owned PNG subsidiary of PanAust, has lodged a Special Mining Lease application to Papua New Guinea’s Mineral Resources Authority to develop the Frieda River Copper-Gold Project. Glen Connell, PanAust’s General Manager, Government and Community Relations, tells Business Advantage PNG that developing a ‘social licence’ to operate is just as crucial to the success of the project.
Goodman Fielder taking a long term view in Papua New Guinea, says chief executive Lejeune
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11 Jul 2016 by 2 Comments
At a time when many companies in Papua New Guinea are cutting back, Goodman Fielder is looking to ramp up its operations. Jean-Michel Lejeune, General Manager at Goodman Fielder PNG, tells Business Advantage PNG how the PNG subsidiary is looking to expand.
Papua New Guinea government facing ‘difficult’ cash flow challenge says ADB
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6 Jul 2016 by Leave a Comment
The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian Development Bank (ADB). The ADB’s Outlook 2016 paper on the Asian region says PNG’s debt servicing costs are likely to rise. ‘Cash-flow management is growing more difficult for the government as commercial banks reach their […]
Manufacturers survey: adapting to tougher economic conditions
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6 Jul 2016 by Leave a Comment
Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.
The song may change but beat goes on for CHM
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4 Jul 2016 by 1 Comment
Raymond Chin, Managing Director of CHM Group, tells Business Advantage PNG that when he started two businesses, one was a hobby and the other ‘real’. He was in for a surprise.
Running a brewery in Papua New Guinea ‘like farming’, says SP Brewery’s Joyce
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28 Jun 2016 by 1 Comment
Running a manufacturing business in Papua New Guinea is like being a farmer, Managing Director of SP Brewery, Stan Joyce, tells Business Advantage PNG. There are good years and there are difficult years.
New Stanley Hotel to be inside ‘own little city’, says General Manager
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28 Jun 2016 by Leave a Comment
The new Stanley Hotel in Port Moresby will operate on a scale not seen before in Papua New Guinea, General Manager Geoff Haigh tells Business Advantage PNG. He says once all stages of the project are completed customers will not have to leave.
Higher government spending could reduce Papua New Guinea’s debt burden, says economist Satish Chand
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27 Jun 2016 by Leave a Comment
Papua New Guinea’s debt levels relative to the size of its economy could actually go down if the government increased spending, according to Satish Chand, Professor of Finance in the School of Business at the University of New South Wales. Mounting an argument that goes against conventional wisdom, he contends that as long as the government investment is well managed and receives a strong return, the long term benefits will outweigh the short term risks.
Papua New Guinea’s 2015 agriculture exports less than half 2011 levels
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22 Jun 2016 by 3 Comments
Papua New Guinea’s agriculture export income in 2015 was less than half 2011 levels, according to data from Bank Papua New Guinea’s latest Quarterly Economic Bulletin. Income from palm oil exports was at its lowest level since 2009, coffee sales were less than half the level of four years ago and income from rubber exports almost halved in a year.
K K Kingston sees opportunities in tough times
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20 Jun 2016 by 1 Comment
Economic conditions in Papua New Guinea may be challenging but Michael Kingston, Chief Executive of diversified manufacturer K K Kingston, tells Business Advantage PNG that the company’s diversified operations give it some strategic options. He also says a weaker exchange rate may also open up opportunities.
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