Kumul Consolidated Holdings

State Receives K20m Dividend

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.

Water PNG Joint Signing

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.

Water Supply Projects Underway For Districts

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 Defends Blacklock

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. 

No merger until current unions reviewed

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.

Pom sewerage project nears completion

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.

Loop PNG's 5@5

 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                                

 

Team PNG rakes 13 medals in police Australasian games

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.

Kumul Holdings in discussions with BSP to operate Pacific MMI

The scope of the JV also includes BSP Life (Fiji) Limited which conducts life insurance in Fiji.

“As Pacific MMI is owned by Kumul Consolidated Holdings we are now exploring how we can best leverage our relationship with BSP,” Minister Public Enterprises and State Investments William Duma said.

“The prospective partnership will give Pacific MMI an enormous presence in the market place.”

Minister Duma encouraged all State Owned Enterprises (SOEs) to consider Pacific MMI as their insurance provider.

BSP signs agreement to operate Pacific MMI

In a statement released by the Port Moresby Stock Exchange, BSP Chairman Sir Kostas Constantinou stated that the MoU also allows for the expansion of the JV activities into Fiji via BSP’s established insurance subsidiary in Fiji.

He added that the strategic objectives captured by the MoU are consistent with the Group’s geographic and business diversification strategy.