Kumul Consolidated Holdings (KCH)

K20m For PPL Creditor Repayments

KCH have continued to support the open dialogue between PNG Power and its various creditors. 

It is encouraged by the cooperation and will continue to assist when necessary. This includes a review of all power supply contracts to PNG Power with action being taken on power purchase agreements that are found to be illegal.

KCH have also provided capacity backing to the finance and commercial teams at PNG 
Power, to collect monies owed to the company. 

PNGOC Awaits Federations

So far only four have applied. Athletics PNG, Basketball, Boxing and Va’a received funding last year under Team PNG’s performance strategy.

Those yet to apply must meet the requirements and follow procedures when applying for funding support.

This initial funding support from Kumul Consolidated Holdings (KCH) will assist the federations to stage national competitions that are in line with their selection process and criteria.

Plans To Resolve Power Outages

An explanation has been given for the continuous power outage in the city, and it seems it all has to do with infrastructure needing an upgrade.

State Enterprises Minister William Duma said nearly all transmission lines in the grid and the equipment from the sub-stations are old and require replacements.

ADB To Rescue PPL’s Aging Infrastructure

Minister for State Owned Enterprises, William Duma said nearly all transmission lines in the grid and equipment from the sub-stations are old and require replacements.

Minister Duma, PNG Power Board Chairman Moses Maladina and KCH Chairman, Dr. David Kavanamur met this week to find solutions to resolve the ongoing power issues.

“We have been able to source some funding with the help mainly from the Asian Development Bank and we are expecting the second tranche to come into the States account around Christmas time.

National Federations Get Funding Support

The PNG Olympic Committee (PNGOC) recently announced the first batch of funding support to these federations under Team PNG Performance Strategy.

With just under two years to the Solomon Islands 2023 Pacific Games, athletes, teams and their coaches are already preparing to ensure they are at peak level come the opening ceremony on 19th November 2023.

PM Clarifies Termination

The reason for the removal of Taureka, after 20 months, was tied to the performances of KCH and State-Owned Enterprises and missed national project deadlines. 

Prime Minister James Marape in a statement explained that the reforms of the SOEs were endorsed by the Government in October 2019. 

“We see it as the most-significant reform programme to be instigated by any Government since the corporatisation of the State utilities and the creation of the Independent Public Business Corporation (IPBC), now the KCH. 

KCH awards Waterfront development survey contact

This was announced by KCH Chairman, Paul Nerau, during the launching of the Port Moresby International Business Summit in Port Moresby.

Nerau said the rezoning is to convert the waterfront from an industrial zone to a commercial one.

“We have had a lot of approaches from different organizations from locally and overseas. We also have a master plan already, so as part of the ongoing development of Port Moresby City, the waterfront, we have that already happening,” he said.

Government queries status of Lae Port Operation

Minister for National Planning and Acting Minister for State Enterprise and Public Investment, Charles Abel, said this during the week.

Abel said it has always been Governments intention to have a reputable firm manage the Lae Port.

“The Governments intention is to have an international operator come in and utilise that port and generate internationally competitive container movement rates and cordage rates and clearance through that port.

Agencies instructed to provide land acquisition reports

Portion 406 in Manumanu was acquired at a cost of K46m by Kumul Consolidated Holdings (KCH) for the PNG Defence Force barracks relocation.

Cabinet made a decision in 2012 to relocate these Defence facilities to a suitable site.

O’Neill said the reports will assist with investigations by the Commission of Inquiry (COI), the Police Fraud Squad and the Ombudsman Commission.

The COI will be established to examine the allegations involved in the Manumanu land deal against senior ministers and senior members of departments.