Although the Port Moresby Stock Exchange (POMSoX) witnessed two new initial public offerings (IPOs) in 2013, the market of 20 stocks, 13 of which are dual listed offshore and one of which is inactive, remains dominated by 12 listed firms in the mining and oil and gas sectors. Financial services, retail, aviation and agroindustry are also...
The government’s reliance on the domestic capital markets to fund its widening budget deficits has grown in recent years. The Treasury has sought to lengthen the maturity of its obligations and shift gradually from relying on Treasury Bills (T-Bills) to bonds to reduce refinancing risks. Despite abundant liquidity in the domestic financial...
THE COMPANY: Highlands Pacific (HIG) is now arguably Papua New Guinea’s premier minerals explorer, developer and producer, advancing some of the country’s most important copper, gold and nickel assets. The PNG incorporated company, listed on the Australian Securities Exchange and the Port Moresby...
How well did the Kina Security Index perform in 2013 compared with other regional securities?
THE COMPANY: New Britain Palm Oil (NBO) is a largescale integrated industrial producer of sustainable palm oil based in Papua New Guinea. It has palm oil and sugar plantations in PNG, the Solomon Islands and Malaysia and an oil refinery in Liverpool, England. NBO is dual listed on the Port Moresby...
THE COMPANY: Oil Search (OSH) is one of the bestperforming stocks on the Australian Securities Exchange. Total production for 2013 was 6.74m barrels of oil equivalent, 6% higher than 2012. Revenue rose 6% to $766.3m, driven by a 19% increase in oil and gas sales, offset by a slightly lower realised...
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