Kina Securities

Kina makes appointments for expansion

The appointments include Gregory Brent as Head of Credit and Chris Davies,  as Senior Relationship Manager with Kina Bank based in Lae.

Before joining Kina, Brent was the Senior Manager Business Credit for Bankwest/Halifax Bank of Scotland in Australia, and Senior Manager Credit for Bank South Pacific.

Davies was the Senior Relationship Manager for Westpac Bank in Lae for the last six years before joining Kina.

Both men have a total of 70 years experience in the banking and financial sector services.

Positives for the oil and gas industries

Business Advantage PNG reports that gas prices returned to the price level of a year ago following a surge of 28.7 percent according to Kina Securities. Meanwhile, Japan/Korea LNG prices are US$6.98 per million British Thermal Units (BTU).

Oil prices also showed welcome signs of strength after rising by 14.3 percent for the month and 38.7 percent for the year. According to Kina Securities, West Texas Intermediate is trading at US$50.85 a barrel.

Reports of China’s demand for imported crude oil has seen robust gains rising 13.5 percent in the first eight months.

Kina announces K9 dividend payment

Chief Executive Syd Yates said: “The results are for the first full six months period for the merged Kina/Maybank business, and the first since the highly successful public float of the Company in July 2015.”

Kina continues to make solid progress in the development and consolidation of its business following the Maybank merger completed last year.

The medium term outlook for the PNG Economy remains positive in the 2016 Mid Year Economic & Fiscal Outlook.