dividend

This payment is in addition to the interim 2018 dividend of K100 million paid in July 2018.

Following the transfer of additional equity from the State to Western Province entities in April 2018, 67 percent of these dividends are paid to the State, with the remaining 33 percent paid to the Fly River Provincial Government, CMCA and Mine communities.

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.

However, due to the fund’s member administration system’s upgrading, members have been advised that they will access their dividend on March 1, tomorrow.

A Nasfund officer told Loop PNG this morning they are migrating data to a new system which currently put a hold on the payments.

This process will involve various reconciliation activities and members are urged to be patient.

The fund has approved a crediting rate of 4 % equating to over K144 million to be paid to members’ accounts for the 2015 Financial year.