On this episode of Business PNG, despite first quarter market uncertainty in both domestic and international markets, Kina Asset Management Limited recorded an investment gain of 1.4 per cent, following on from their 2015 net profit of 4.74 million kina.
The POMSOX and ASX listed company, held their 2016 Annual General Meeting in Port Moresby this week.
According to the company’s 2015 report, KAML’s 2015 performance was much improved from the previous year on the back of a rebound in key assets and the effective reallocation of investment resources.
The performance was driven by a combination of factors including Capital Gains on International Investments; the performance of key investment assets and a depreciation of the kina which supported a favorable translation of the portfolios international constituents.
Also on this episode, we see what tropical Cairns has to offer in terms of investment opportunities.
Just one and a hour flight to Port Moresby and an ideal destination for a tropical holiday away from Papua New Guinean shores. However tourism purposes aside, the city is fast becoming a popular investment hub for Papua New Guineans looking to invest abroad, principally in Real Estate.
The strategic proximity has allowed trade and business ties between the two cities to remain strong and Papua New Guineans have been encouraged to take advantage of this relationship.
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