BSP CEO Robin Fleming

BSP Financial Limited Group CEO Robin Fleming said, “Since BSP’s listing on the Australian Stock Exchange (ASX) in May, we are now pleased to announce to our shareholders that they can trade on the ASX market.”

In order to move shares across to ASX, BSP PNGX shareholders are required to fill in two mandatory forms; the PNG Registries Shunt Form and an IRC Tax Clearance Form.

Fleming explained the process of shunting or moving shares.

He says this is attributed to recent developments in the resource sector which several major projects.

BSP Group CEO Robin Fleming, says a higher level of confidence in the PNG Economy is expected by the end of 2021.

This follows developments in key resource projects such as the Fiscal Stability Agreement signed between the Government and Total and Joint Venture Partners of the Papua LNG Project, as well as the Environmental Permit awarded to Wafi-Golpu Joint Venture for the mine negotiations to gin on the Wafi-Golpu Mine.

The bank has continued to perform well despite the tough economic conditions over the past few years.

The milestone has resulted in an operating profit after tax of K757 million, a 17 percent increase from 2016.

BSP CEO Robin Fleming said the result is an indication of strong performances mainly in PNG, with interest income coming from the corporate sector contributions from its other Pacific markets.