Police pistol found on Kapris: Sources

THE .38 caliber pistol found on bank robber William Nanua Kapris at the time of his arrest was "a pistol belonging to the police department" according to police investigations, sources have revealed, The National reports.

Kapris told police interrogators that he had bought the weapon off the streets at Boroko where he was dropped off, and had spent some nights at a guest house there after his escape.

Kapris said he had trekked down from the Sogeri Plateau where he and his gang of 11 prisoners were driven to after they were sprung from jail by a female "lawyer" named "Helen".

Upon reaching Tubuserea, Kapris said he had hitched a ride into Port Moresby and was dropped off at Boroko.

While there he bought the firearm from a "strit mangi", he told police.

He later took a taxi to a lodge at Gordon where he stayed for three nights before he was arrested on Feb 6.

On Feb 9, Kapris appeared in court and pleaded guilty to being in possession of an unlicensed firearm, contravening section 27(1)(a) of the Firearms Act Chapter 310.

He told the Boroko District Court then that the weapon was for his own protection against rogue "politicians" who were involved in the case.

The matter involving the .38 caliber pistol was adjourned to March 16.

 

 

Sir George murder suspect arrested

ONE of the suspects involved in the murder of businessman Sir George Constantinou in December 2008 was caught by police yesterday, The National reports.

During a routine patrol in the Tete settlement on the outskirts of Gerehu in the NCD, police nabbed Kevei Paul, 16, of Tapini in Goilala, Central province, who was taken by surprise.

Paul dropped to the ground when police fired a warning shot.

Paul has been on the run for over a year after his name had was released to police by prime suspect Joe Auki, who reportedly released all other names in connection with the killing of Sir George.

Auki, also from Tapini in Goilala, was only recaptured by police last month after escaping from Bomana jail last year.

Gerehu police station commander Insp Steven Kapera said yesterday police were on their routine patrol and on the look-out for suspects in the area related to the murder when they spotted Paul.

Insp Kapera said as a first time offender, they did not have a picture of Paul but had his name.

Paul was also on the NCD police homicide unit’s “hit list”.

Insp Kapera said eight suspects were involved in the murder of Sir George.

 So far, Paul was the fourth suspect to be arrested.

 

Local bourse expands 70% in '09: Yates

 Growing confidence from business sector

 PAPUA New Guinea’s local investment market grew by more than 70% last year, indicating a growing confidence from  the business sector in the domestic marketplace.

Kina Securities Ltd (KSL) said yesterday in its March bulletin the Port Moresby Stock Exchange (POMSoX) achieved a market capitalisation of K50 billion last year.

This compared with its capitalisation of K29.4 billion in 2008, representing an increase of more than 70%.

KSL chief executive Syd Yates said this showed the PNG local investment market was continuing to expand strongly.

Mr Yates said the substantial growth of the investment figures in the 12 months when the world was recovering from the most severe financial crisis in 60 years, was indicative of the growing confidence from the business sector to look towards PNG for their long-term development and exploration initiatives.

“It clearly indicates that investors are keen to support their local major enterprises and have confidence in the domestic marketplace.

“Historically, PNG investors were forced by lack of a local alternative to invest through international channels,” he said in the bulletin.

Mr Yates said while there was record overall growth of the POMSoX, there were however, fewer transactions completed when compared to the previous year as the global economic crisis continued to impact on investor and consumer confidence worldwide.

Last year, there were a total of 6,182 equities transactions on the POMSoX, compared to 8,240 recorded in 2008.

Similarly, the average number of daily transactions also dropped from 33 in 2008 to 24 last year.

He said consistent growth of the POMSoX across a period of more than 10 years was a strong indication that locally-based operations remain high on the radar of investors within PNG and across the world.

“The POMSoX will continue to play a key role in the economic recovery process, providing local and international investors with an opportunity to become directly and financially involved with some of the leading development and exploration projects currently taking place throughout PNG.”

Since its inception more than 10 years ago, PNG’s domestic stock exchange has continued to move from strength to strength to the point where it now regularly provides investors with returns that are consistent with, if not better, than other major financial indices across the world, the KSL CEO said.

PNG, Taiwan ink LNG deal

THE PNG liquefied natural gas (LNG) project has signed off its last 1.2 million tonnes per annum (mta) of LNG to China Petroleum Co PNG-Taiwan LNG deal, The National reports.

Esso Highlands Ltd, operator of the US$15 billion (K40 billion) LNG project, signed the 20-year sales deal with the Asia-Pacific LNG customer, last of the four LNG customers for the total 6.6mta to be produced when the project exports its first cargo in late 2014 or early 2015. 

Esso Highlands Ltd is a subsidiary of ExxonMobil Corp.

“This important agreement with CPC will deliver a reliable supply of cleaner-burning natural gas to meet Taiwan’s growing energy demand and begin a new and lasting relationship between Taiwan’s largest energy importer and PNG’s first LNG project,” Ron Billings, vice president, LNG, ExxonMobil gas and power marketing, said.

Second major partner Oil Search Ltd’s managing director Peter Botten said: “The PNG LNG project is now fully contracted for the entire plant capacity, and the way is clear to move forward to financial close.”

Mr Billings said: “It also marks a significant step forward for the PNG LNG project. With this SPA, all of the project’s production capacity has been committed on a long-term basis.

“We are now looking forward to the finalisation of the financing arrangements with lenders which is expected in the first quarter of 2010.”

CPC Corp is the largest energy importer in Taiwan.

The previous three SPAs signed last year (2009) were with Japan’s Osaka Gas Co Ltd, for 1.5mta of LNG on Dec 22; with Tokyo Electric Power Co Inc (Tepco) for 1.8mta of LNG on Dec 7; and on Dec 3 with Unipec Asia Co., Ltd., a subsidiary of China Petroleum & Chemical Corp (Sinopec) for 2.0mta of LNG.

(CPC) Taiwan.

Esso Highlands Ltd, operator of the US$15 billion (K40 billion) LNG project, signed the 20-year sales deal with the Asia-Pacific LNG customer, last of the four LNG customers for the total 6.6mta to be produced when the project exports its first cargo in late 2014 or early 2015. 

Esso Highlands Ltd is a subsidiary of ExxonMobil Corp.

“This important agreement with CPC will deliver a reliable supply of cleaner-burning natural gas to meet Taiwan’s growing energy demand and begin a new and lasting relationship between Taiwan’s largest energy importer and PNG’s first LNG project,” Ron Billings, vice president, LNG, ExxonMobil gas and power marketing, said.

Second major partner Oil Search Ltd’s managing director Peter Botten said: “The PNG LNG project is now fully contracted for the entire plant capacity, and the way is clear to move forward to financial close.”

Mr Billings said: “It also marks a significant step forward for the PNG LNG project. With this SPA, all of the project’s production capacity has been committed on a long-term basis.

“We are now looking forward to the finalisation of the financing arrangements with lenders which is expected in the first quarter of 2010.”

CPC Corp is the largest energy importer in Taiwan.

The previous three SPAs signed last year (2009) were with Japan’s Osaka Gas Co Ltd, for 1.5mta of LNG on Dec 22; with Tokyo Electric Power Co Inc (Tepco) for 1.8mta of LNG on Dec 7; and on Dec 3 with Unipec Asia Co., Ltd., a subsidiary of China Petroleum & Chemical Corp (Sinopec) for 2.0mta of LNG

 

LNG plan offers farmers new deal

 Caption: Mr Parindali (left) looking through the documents while Mr Ingram signs the others.  – Nationalpic by SHEILA LASIBORI    

 By SHEILA LASIBORI    

THE new roads and airstrips being constructed for the PNG liquefied natural gas (LNG) project will give market access to primary agriculture produce.

But a lot of the hard work will be done by local Papua New Guineans, according to Mark Ingram, chief executive of Business for Millennium Development (B4MD).

Tonight in Port Moresby, B4MD signed a deal with Hides Gas Development Corp (HGDC), a landowner company.

“What the LNG project provides is a way to finally get market access … so with market accesses, you can now create an economy for the people.

“The benefit of profits will go directly to the farmers.”

HGDC chairman Libe Parindali and Mr Ingram signed the deal targeting women and children in resource-rich Southern Highlands.

It paves way for the creation of Southern Highlands Produce Ltd, a joint venture between B4MD and landowners.

Mr Ingram also said: “Southern Highlands Produce brings together a group of Australian international companies working in partnership with the communities of Southern Highlands to create a community based fresh produce company”.

Oil Search managing director Peter Botten acknowledged B4MD for its efforts and others who wanted to help and contribute to dealing with millennium development goals (MDGs).

Oil Search is a member of B4MD and it will help seek seed capital for SHP-based produces.

Under the arrangement B4MD would provide necessary expertise, tools and support for SHP from various members to assist with the running of the company.

 

 

Familiar situation

From PAUL OATES

This report sounds terribly familiar for some reason.

http://www.probeinternational.org/foreign-aid/chinese-investment-good-africans-depends-who-you-ask

Papua New Guinea does not need extra ministers: Morauta

Prime Minister Sir Michael Somare’s proposed constitutional amendments to increase the number of ministers from current 28 to 33 is a naked and badly camouflaged strategy to capture numbers to protect his scandal-plagued government remain in power, the Opposition lashed out today.
And, Leader of Opposition Sir Mekere Morauta urged concerned citizens to challenge Sir Michael to explain how the nation will benefit from extra ministries, which will cost the nation’s taxpayers millions of kina.
Sir Mekere explained that five additional ministers will cost PNG taxpayers a minimum of 3 million kina more in salaries, allowances and staff costs. This excludes office rent and office support costs, and the support that departments and agencies inevitably end up providing to ministers.
“Somare is looking for numbers not Ministers. He knows that when the constitutional reference on the Organic Law on the Integrity of Political Parties and Candidates is handed down, his chance of survival will be reduced. This is a move by a desperate person to cling onto power through an ill-conceived constitutional change,” Sir Mekere said.
Sir Mekere said that the timing of this announcement was revealing, because it confirms the point that this is a move purely to anchor Sir Michael in power.
“The people of Papua New Guinea do not need more ministers. People need more and better quality schools, health centres, affordable and reliable transport, and improved telecommunication services. That is what Somare should be providing, not burdening the public with the cost of more ministers.
“Is the Prime Minister blind? Is he so insensitive and intoxicated with power that he cannot see what the nation and the people need,” the former prime minister asked.
“PNG does not more ministers. PNG does not need a K130 million executive Falcon jet for exclusive use by the Prime Minister. We need that K130 million to repair classrooms, teachers’ houses, health centres and staff housing, trains new teachers and health officers, repair and buy new life-saving medical equipment as well as repairing fast deteriorating inter and intra provincial roads.
“The Falcon jet is already being used as a mini bus. How many millions will the government spend to operate and maintain the mini bus. Can he tell the people of PNG? I am told that the figure is around K35 million a year, for maintenance and operational costs. Please tell us.”
Sir Mekere said: “Papua New Guinea needs a change. A change of Government to put in place a new, capable and disciplined Government to tackle head-on existing and growing problems and challenges faced today and in the future”.
“The objective of the move to increase ministries is simple – to get a number to support him to stay in power. That being so, why doesn’t he amend the constitution to increase the number of ministries to 55, so that he is quarantined for life in power?”
“That will stop him trying to poach members from other parties, including my party and others in the Opposition,’ Sir Mekere said.