Kumul Consolidated Holdings

Sessions 1-4 were concluded yesterday on day one of the conferences, with Prime Minister James Marape welcoming investors to PNG before departing for Beijing, China.

Minister Maru, who was instrumental in the hosting of this conference in Asia, is headlining session five with the topic: “PNG ready for investment”.

Kumul Consolidated Holdings, PNG Hydro Development, FAO PNG and the Investment Promotion Authority will be presenting throughout the day, with the program set to end at 3.40pm (HKT).

This was made possible at an officials’ letter exchange between PNG’s Kumul Consolidated Holdings and Australia’s Department of Foreign Affairs and Trade.

Minister for State Enterprises, William Duma, joined Australian High Commissioner, Jon Philp, in Canberra on 16 February to witness Kumul Consolidated Holdings Managing Director, Professor David Kavanamur, and HC Philp exchange counterpart letters securing Australian technical support for Air Niugini’s fleet replacement program to explore and progress financing options.

The cheque payment of K20million comprises of an interim of K10 million each for the year 2020 and 2021 financial years respectively, and the final dividend will be made available in 2022 following the completion and signing of the 2020 and 2021 audits by the Auditor General’s Office.

Member for Kundiawa-Gembogl William Onglo, Governor for Simbu Michael Bogai Dua, Minister for State Enterprises William Duma, Kumul Consolidated Holdings Managing Director Isikeli Taureka, stakeholder representatives and Water PNG officials, witnessed these milestone achievements.

Acting Managing Director for Water PNG Ltd Parkop Kurua said that the Bulolo project had two parts and the days signing event was to witness PART A of the water supply project.

Member for Kundiawa-Gembogl William Onglo, Governor for Chimbu Michael Bogai Dua, Minister for State Enterprises William Duma, Kumul Consolidated Holdings managing director, Isikeli Taureka stakeholder representatives and Water PNG officials, witnessed these milestone achievements.

Acting Managing Director for Water PNG Ltd, Parkop Kurua said the Bulolo project had two parts and the days signing event was to witness Part A of the water supply project.

O’Neill further claimed that Blacklock’s arrest was ‘silly and unnecessary’ intimidation of innocent professional by Police and the Minister for Justice who has now become the complainant even though he is not a party to the employment contract. 

He further explained that the parties including PNG Power Board and employee Carolyn Blacklock have signed after consent from shareholder Kumul Consolidated Holdings and approval by the National Executive Council of the acting appointment. 

The Minister said the current mergers that took place in 2018 have not been completed.

Duma said the current mergers between the water utilities companies and telecommunications businesses are still on going.

Once completed their operation will give the government an idea on the idea of mergers.

The first intake of sewer scheduled for early June.

The K400 million state-of-the-art treatment facility, being constructed at Joyce Bay, is jointly funded by the Government of Japan through its international development partner agency, Japanese International Cooperation Agency (JICA), and the Government of Papua New Guinea.

JICA contributed 55 percent of the cost while the State took up the remaining 45 percent.

 IMF Report is inaccurate: Bakani

The 2016 International Monetary Fund Article IV Mission Report on PNG is not correct, says Bank of PNG Governor Loi Bakani.

http://www.looppng.com/png-news/imf-report-inaccurate-bakani-50994                                

A team of 77 police men and women attended the week-long gaming event, taking part in rugby 7s, rugby 9s, tennis, track and field, shot put, discus, 100m sprints, basketball, snooker billiards as well as dart.

RPNGC media director Dominic Kakas says the trip was very successful.

Team PNG won two silver medals in basketball, two gold medals, two silver and a bronze medal in dart, a silver medal in snooker, a silver medal in discus, a silver in shot put, and a gold for the 100m sprints.