Steamships posts K96m profit for 2009

STEAMSHIPS Trading Co Ltd (STCL) posted a profit (after tax and minority interests) of K96.6 million for the period ending December 2009, The National reports.

The directors in their report to the stock exchange revealed the profit, up 7% from K90.2 million in 2008, on the back of healthy performance by businesses within the Steamships group especially the hotels and property division.

This figure includes Steamships’ equity-accounted share of associates’ results.

Revenues were K496.0 million, up 7.1% compared to 2008 result of K463.0 million.

Depreciation in 2009 was K47.9 million compared to K39.3 million in the previous year, and interest on borrowings was K12.2 million against K4.7 million in 2008.

Capital expenditure for the year was K195.4 million against K133.7 million in 2008.

“The result reflects the continuing improvement in trading performance from businesses within the Group.

"Notably, the hotels and property divisions recorded healthy results against budget expectations.

“This is largely driven by increased demand for short-term stays and conferencing.

“Room and facility expansion at the Gateway and Ela Beach Hotels together with the construction of the new 166-room Grand Papua Hotel, in Port Moresby, ensures the divisions’ position as a leading hospitality service provider.”

The board said demand for high quality commercial, industrial and residential accommodation drove favourable results for the property division and reinforced investment decisions to commence property development programmes.

 

Government backs Petromin on LNG plan

Caption: Petromin chairman Brown Bai (right) making a point to Sir Michael during the meeting last week. – Picture courtesy of Petromin Media

PRIME Minister Sir Michael Somare has said the Government and its agencies will work with Petromin PNG Holdings Ltd in the Elk/Antelope liquefied natural gas (LNG) project, The National reports.

This will be to help Petromin, the Government’s nominee, fund the State’s equity in the project being spearheaded by InterOil Corp.

Sir Michael disclosed these during the Petromin Board meeting in Wewak last where he addressed the meeting as trustee shareholder.

He said he was looking forward to receiving Petromin’s advice on how the State could best fund its equity in the project.

The Prime Minister expressed satisfaction that Petromin had secured the financing of its equity, through its subsidiary Eda Oil Ltd in the Exxon Mobil-led PNG LNG project.

“This indeed gives me more confidence that I have in the board and management in taking on more challenges of similar nature in the future, on the company’s own strength.”

Sir Michael said Petromin has shown positive growth since its inception and he commended the board and management for putting in place an investment strategy which provided the pathway for a planned process of investment.

“It is my hope that one day, Petromin would live up to its expectations of becoming an exploration and development company in the whole value chain of the mineral and petroleum sector.

“It was this main vision that led us to create Petromin,” Sir Michael said.

Dame Carol Kidu launches Early Childhood Education at University of Goroka

Caption: Dame Carol Kidu, Vice Chancellor Dr Onagi, Professor Simms and Dr Forrest unveiling the signboard for the launching of the Early Childhood Education Centre at UOG

 

The University of Goroka’s new programme in Early Childhood Education was launched last Friday.

 Dame Kidu said she was “very passionate about early childhood”. 

She commended UOG on its breakthrough course that focuses on the most valuable resource of PNG (small children).

 Dame Kidu also advised the gathering that the curriculum for the course needed to be flexible with a holistic approach, as early childhood care and practices were a community concern.

 She was very excited about the program and thankful that it was giving another career pathway to students.  Dame Kidu closed her speech by giving the highest congratulations to UOG and encouraging all Ita Eboda (Motu for “all of us can do it together”).

Two special guests from the University of New England were also present for the occasion: Professor Margaret Simms and Dr Rhonda Forrest.

 Both visitors were very supportive of and excited by the new programme and also gave valuable advice and specialist knowledge to the gathering.

Vice Chancellor of the University of Goroka Dr Gairo Onagi remarked that “a child is the only known substance from which a responsible adult is made” (Thomas Lickona) and UOG had a responsibility to train young people to help shape children into better adults.  Dr Onagi announced that UOG was the first university in PNG offering training for teachers in early childhood education.

 He announced that funding had been granted for two lecturers to teach the Early Childhood programme at UOG. 

Dr Onagi also thanked Dame Kidu, Professor Simms and Dr Forrest for their continuing support and advice to UOG and the new programme.

Dean of the Faculty of Education Dr Kapa Kelep-Malpo said the most crucial time in a child’s life was from conception to eight years old. 

Dr Kelep-Malpo said she was happy for UOG to join others to promote and cater for this special age group through support from the government and UNE.

The launching, held at the Steak Haus, was witnessed by a number of special guests including representatives from NGOs, elementary school teachers and trainers, UOG staff and the first intake of students for the programme.

The one-year diploma programme is a positive step forward for the Education Faculty at UOG, and is testament to the recognition and importance of education at the elementary level. 

The programme commences this year, with hopes of expansion for the future.

The programme concluded with the unveiling of the Early Childhood Education Centre signboard for the Faculty by Dame Carol Kidu, the Vice Chancellor, Professor Simms and Dr Forrest.

The magic of Kokoda Track

By NEWMAN CUTHBERT

Communications & Marketing Officer

Kokoda Track Authority

The Kokoda Track (Trail) produces some amazing views and often times it unfolds before you and allows you to admire it than fades as you watch.

Whether it is rainbows that seems to cut through the forest canopy or the sound of the wind that  whispers your own name as you pass, the track has a way of wiping away the  aches and pains of  a tough trekking day.

But it is where you will sometimes feel closer to our maker and when the going gets tough at certain locations along the entire 96 km of the Kokoda Track, he has ways of making us pause, rest and admire his creation.

 

And in the stillness of the mountain track he makes it known that he is our God as he brilliantly choreographs his own creation that even the most renowned artist of any generation could not possibly capture in its finest details on canvas.

 

For it was on this track in our time that he took back many lives that he gave.

 

You all have a great day.

 

Pictures by Kokoda Track Authority Operations Manager VOLKER SCHOLZ

 

Tragic end for lady cop

Caption: End of the road ... Mt Hagen General Hospital officers carrying a body bag containing the remains of wanted robber Pawa Moni from a stretcher on Saturday morning. Monitoring the transfer is a policeman.

Wanted robber blows himself and policewoman up

A POLICEWOMAN was killed when a suspected bank robber and killer accidentally blew himself up with a hand grenade while being arrested in Mt Hagen last Friday night, The National reports.

Three other policemen were also critically injured in the explosion inside a police vehicle at the Wamp Nga fuel station in Western Highlands province.

The man, wanted by police for a string of criminal offences, including bank robbery and murder, was identified as Pawa Moni, 35, from Kelua 2 village, outside Mt Hagen city.

The policewoman was identified as Selly Mol, 25, from Waghi bridge in the North Waghi district.

She was married to Tony Taia, a teacher from Kerowagi district, Simbu province.

Ms Mol leaves two children, her first born son David, two, and four-month-old baby girl Kala.

Western Highlands police commander ACP Simon Kauba said on Saturday morning Moni was wanted for robbing Bank South Pacific’s automatic telling machine (ATM) in Lae in 2006 and the murder of a security guard last year.

The Guard Dog Security officer was killed during an armed robbery at the Mainland Holdings office in Dobel.

ACP Kauba said Moni was also wanted for breaking into the office of Niugini Oil in Mt Hagen a few years ago, fleeing with K41,000 in valuables and cash.

He said Moni had gone into hiding until Friday when he was spotted in a PMV bus at the petrol kiosk.

Following a tip-off between 6.30pm and 7pm, ACP Kauba said the nightshift policemen and Ms Mol rushed to the fuel station and ordered Moni out of the bus.

“They put Moni into the police vehicle but they failed to search him properly,” ACP Kauba said.

Ms Mol then got into the front seat with the driver, Const Donald Mata.

“Moni jumped from his back seat, took out a hand grenade and struggled to escape through the front side of the vehicle where Ms Mol was seated.

“In the struggle, the hand grenade’s pin came off.

“Const Mata then opened the door and jumped out.

“Unfortunately, he and the other two policemen at the back were all critically injured,” ACP Kauba said.

He said Ms Mol could not make it out on time and she was also killed in the explosion with Moni inside the police vehicle.

ACP Kauba described Ms Mol as a dedicated policewoman and “we are all very sad to lose such a dedicated member of the force”.

He said Chief Sgt Pius Nukundi, First Const Paul Pora and First Const Mata were admitted to Mt Hagen General Hospital’s surgical ward in critical conditions.

Moni’s remains were removed from the police vehicle on Saturday morning and sent to the hospital mortuary.

The Mt Hagen general duty counter was closed on Saturday morning for a few hours after explosion.

Curious Mt Hagen city residents and villagers, who heard about the incident, turn up at the scene in droves to get a closer look at the body in the police vehicle.

Police barricaded the main road between the Wamp Nga fuel station and International Education Academy (IEA).

The road was cleared to traffic after Moni’s remains were removed at about 10am

Women impress Sir Michael

THE Prime Minister Sir Michael Somare has praised the women of Papua New Guinea for staging the first-ever Women in Business expo in Lae, The National reports.

And he pledged the Government’s support to ensure women participate meaningfully in businesses to improve the living standards of their families.

Sir Michael travelled to Lae to officially open the three-day expo telling the women who had traveled in from all corners of the country to ensure they speak with “one voice” in business.

“I am pleased to see many women getting involved in small businesses,” Sir Michael said before touring the exhibitions staged by the women.

As he moved from tent to tent, the Prime Minister could not help but marvel at the quality of the products the women produced.

He saw soap being produced from coconut oil, candles, various oils, clothing tailored by the women in far away bush land, fish grown by women in far away places such as Mt Wilhelm, mats woven by Gulf and Central province women, garden produce such as giant yams from Finschhafen and many more.

He told the women to forget about their differences and work as a united team in developing businesses to help themselves and their families.

The Prime Minister said he was impressed with the initiative taken by the women to showcase products they themselves had made with their own hands.

He said last year, the Government approved K10 million to help women start small-scale businesses through the National Microbank.

Sir Michael said the government would consider increasing financial support to ensure women had access to more funds to develop their small businesses.

He also pledged to talk with his deputy, Sir Puka Temu, to make a portion of land that the women want in Port Moresby available to them to build a centre for their training and various business activities.

The matter was raised at the official opening by the founder of PNG Women in Business Janet Sape.

On Saturday night, Commerce and Industry Minister Gabriel Kapris assured the women he would work closely with the Prime Minister to see women get increased financial support to develop small- to medium-scale businesses.

Mr Kapris said he was pleased to see women going into downstream processing producing goods such as soap and oils and the government would look at how it could help those women expand such businesses.

 

Parkop launches new 'united' party

By ISAAC NICHOLAS

NCD Governor Powes Parkop has launched a new political party, United Democratic Front, that aims to put an end to corruption, weed out the old political culture of power-play and to chart and a new path of change for future generations, The National reports.

The new political party was launched at the Parliament State Function room on Saturday with more than 500 people with K100 registration to become founding members.

The party has been registered with Investment Promotion Authority but the mooted party name that will be confirmed before the elections is Social Democratic Party.

The State Function room was filled with more than 500 people from all walks of life and ethnic groups crammed together knee to knee sitting down to witness the occasion and be a part of the new movement.

Another 100 more were not allowed in because of space limitations and waited outside the main gate.

The registration of 540 people to form the new party also fulfills two requirements of the Organic Law on Political Parties and Candidates (OLIPPAC) for a minimum of 500 members and K10, 000 registration with the Office of the Registrar.

“On July 23, 2007, we made a break when you elected me as governor which shows your desire for change,” Mr Parkop said, adding that Port Moresby made a loud statement at that time and if Port Moresby could change than PNG would change.

“We need change; we have to put an end to our political culture and leadership culture.”

Mr Parkop said currently, politics was about power play and politics of convenience and gave an example of the Prime Minister announcing to make a reshuffle because some ministers had not performed or were allegedly involved in scandals.

“If Sir Mekere Morauta and Bart Philemon are genuine, they can talk to the Prime Minister and remove and invite the Opposition into Government.”

He said this was not happening and the Opposition was talking to the same ministers facing the axe to move a vote of no-confidence against the Prime Minister.

“We have to weed out this old political culture. Parliament is too much about power politics, power-play and politics of convenience.”

He said the message out there now was people want change and the creation of the new party was the vehicle to drive that change.

Mr Parkop said Papua New Guinea was not a poor country and had been abundantly blessed by the Creator.

“Papua New Guineans themselves have to be blame for squandering what the Creator has blessed us with.”

He gave examples of countries that lack resources but have flourished including South Korea and Singapore.

“This country is at the cross roads. We have now the LNG project that will bring in huge money but what are the tangible benefits. That is the biggest challenge.

“Are we going to build a better life and future with all our resources? Are we going to leave a legacy for our children? What will we leave for our next generation?”

Mr Parkop said the country needed good quality leadership who could look after all the wealth and ensure this was invested properly for the future.

He said the country currently had three major problems: leadership, management and attitude.

“We need humble, honest and quality leaders and the time to vote following money is over.

“What we want is a movement, a unity of people to go out and identify new honest, quality leaders into Parliament and this new political party will ensure this happens.”