Shareholders to Kina Asset Management have been given a confidence boostowiththe revelation thatthe first quarter of 2013 saw strong profitable returns.
The meeting was attended by shareholders, business executives and private individuals.
Sir Rabbie saidthe company was able to generate an investment gain of K6.18 million for the year ending 31 December 2012, representing a return of 14.85%.
The Chairman saidthe company faced challenges both globally and domestically in 2012 but was able to manoeuvre through successfully.
Shareholders were assured that Kina Asset Management Ltd would provide monthly performance updates, by publishing a Net Asset Value and a complete listing oftheir investments.
Kina Asset Management Chief Executive Officer and Director Syd Yates said though it is difficult for an investment company to predict its performance for the future,the company has done well for the first quarter of this year.
Kina Asset Management shareholders became some ofthe first in PNG to lodgetheir proxy votes for the investment company’s annual general meeting via smartphone.
It isthe first Papua New Guinea listed company to offer this service outside Australia. Over 20 million votes were lodged online this year, with over 7 million lodged via smartphone.