Former Kiwis rugby league halfback Benji Marshall has been made a Companion of the New Zealand Order of Merit by Governor-General of New Zealand, Her Excellency The Rt Hon Dame Cindy Kiro. Marshall was awarded with the honour due to his services to rugby league at a prestigious ceremony in Auckland on Tuesday, and said it was an extremely proud moment following a distinguished rugby league playing career. "Was a very proud moment today to receive my Companion of The New Zealand Order of Merit (CNZM) from @govgeneralnz Dame Cindy Kiro GNZM, QSO," Marshall wrote on Instagram. "To have some of the whānau there to support and be a part of it was a very proud moment." Marshall is set to feature as an Assistant Coach to Tim Sheens at Wests Tigers in 2023 before taking over as Head Coach for the first time in his career in 2025. The 2010 Golden Boot Winner, Marshall played 346 first-grade games across an illustrious career — including 257 at Wests Tigers where he won the Premiership in 2005. Making his New Zealand Test debut that year as Kiwis player #717, Marshall went on to play 31 Tests for the Kiwis including success at the 2008 World Cup.    

'For my father' is the latest theater show by PNG Playwright Andrew Kuliniasi, he is the writer who brought you the "He is Victor" and "Meisoga" which were both successfully staged in 2021 and 2016/2019 respectively. Andrew is 22 years old and accomplished and published playwright, actor, producer and director who has been in the arts industry for 10 years. He had produced renowned play, as well as  produced alongside film director Spencer Peter Wangare on his latest film Black Python. He has acted multiple stage performances at the Moresby Arts Theatre, with Pascoe Promotions, Next of Kin, and most recently starred as the youngest supporting character on Screen Craft Australia's it Takes A Village. This show is an independent production tackling difficult societal issues we face in PNG today. It sheds light on how the effects of childhood trauma and abuse can affect us as adults and portrays a family that is struggling financially as they prepare to meet the cultural obligations that surround the death of their father. "It's as in depth and intimate look at the Haus Krai tradition and the cost the living pay for the dead. 'For My Father' premiers this week 1-4 September at the Moresby Arts Theatre.  It's a Papua New Guinean expectation to have a Haus Krai and what we do for our dead when they're gone. "The inspiration for 'For My Father' is really everywhere, its what every single Papua New Guinean has gone through or has had to go through", states Andrew. "The question we ask in the play are: What if you can't do a haus krai because of money or your financial situation? But also what is the purpose of the kaus krau when the person who was alive wasn't a good person to you? And so it is a show that is very , very rooted in those two questions", added Andrew. "And I am very excited to be doing theatre in a new and exciting way, theatre in the round which is the first time that I am experimenting with this style of theatre and I'm also very excited for the debut of my co-director Ziggy Yominao who is making  his debut as a director but also is an up and coming force in the director's chair. Ziggy has worked very hard on this show with doing the bulk of the directing and provided the creative advice as the writer and we work well together as  team," concludes Andrew.    

 Leading agricultural commodity export earner at K2.6 billion per annum, oil palm, will come under the close scrutiny of the Government under the separate ministry created for it. This is according to the Prime Minister Hon. James Marape, MP whose government is keen on elevating the industry to an entirely new level including achieving growth, production and establishment of more onshore processing facilities to replace direct raw exports. The Prime Minister said the oil palm industry was critical to economic and infrastructure development and growth of the country due to the nature of its requirements for quality roads and connectivity especially in the rural sector where no such services exist. Prime Minister Marape said about19,877 households (2011 National Population Census) are engaged in oil palm cultivation to generate income which supplements and sustains their subsistence livelihoods. He said until recently oil palm was only grown in the provinces of West New Britain, New Ireland, Northern and Milne Bay Provinces. However, the industry has now expanded to East New Britain and the mainland provinces of Morobe, Madang, East Sepik and West Sepik Provinces. The Prime Minister said current and initial statistics indicate that estate milling companies have a total planted area of 133,854 hectares, which is 67 per cent of the total oil palm hectares planted in Papua New Guinea. Mr Marape said this means that village oil palm blocks or smallholders cultivate the balance of the total planted area with 66,813 hectares, thus giving a total planted area of 200,667 hectares in the country. He said with new areas being planted over the last few years this has increased the hectarage to about 248,667 in total. Even then Prime Minister Marape said this was only four per cent (4%) of the total moderate-highly suitable areas for oil palm cultivation in Papua New Guinea. Prime Minister Marape said the Government’s new focus now was out of critical concern for oil palm that were over-aged beyond their economic life occupying an expanded area totaling about 14,000 hectares which is about 20 per cent of total crops grown in the initial five producing provinces. He said the new Minister for Oil Palm’s target is to now establish tangible development strategies to resuscitate and rehabilitate these once high yielding areas with highly productive species in order not only to retain, but to surpass their original productivity levels. Mr Marape said at the same time oil palm feeder and access roads that deteriorated in the provinces concerned, due to lack of repair and maintenance over the past 25 years, have to be urgently rehabilitated. Prime Minister Marape, however, emphasized that initial action had already been taken including the Government’s funding of the rehabilitation of 219 kilometres of roads since 2019-2022 costing a total of K28 million. He said this may have contributed to increases in FFB production from 688,189mt in 2019 to 768,128mt in 2021, an increase of 11.6 per cent. Prime Minister Marape said the elevation of the industry to a new status, and under a new Minister, will provide the formal consultative mechanism between industry and government to boost and enhance this important economic commodity. He said this will include revision of the existing legislation governing the industry which must pave the way forward in a fast-changing world of economics and technology. Mr Marape said it was against this backdrop necessitating the creation of new Oil Palm Ministry which will provide strategic focus to: • Strengthening the collaboration and partnership between Government, partners and the private sector by restructuring the current OPIC operations, incorporate regulation and R&D functions; • Increase planted areas and initiatives for expansion of smallholder sector; • Increase opportunities for downstream processing and value addition; • Increase smallholder productivity level from current 11.72mt to optimal level of 25-30mt per hectare; and • Increase rehabilitation of oil palm roads to improve market access, production and higher returns on investments. Mr Marape said the Government stands ready to ensure the country realized its full potential in the industry over the long term and beyond.

Key stakeholders in the country were provided the opportunity to contribute to the finalization of four significant national documents in a two-days’ workshop hosted by Climate Change Development Authority (CCDA), beginning yesterday in Port Moresby. The four documents are known as the National REDD+ Safeguards Guidelines include, REDD+ Development Guidelines (RDG), Benefit Sharing Distribution System Guidelines (BSDS), Grievance Redress Mechanism Guidelines (GRM), and Free Prior Informed Consent Guidelines (FPIC). The guidelines will guide the country’s efforts in mitigating impacts of climate change through Reducing Emissions from Deforestation and forest Degradation known as REDD+. REDD+ is a climate change mitigation approach under the United Nations Framework Convention on Climate Change (UNFCCC) of which Papua New Guinea (PNG) is undertaking. Acting Managing Director of CCDA William Lakain said PNG requires a structured system for coordinating and reporting REDD+ actions hence the National REDD+ Safeguards Guidelines are significant. “The REDD+ safeguards guidelines are to ensure that social and environmental risks are minimized, and the benefits from REDD+ activities are enhanced in the country. The guidelines are also to strengthen PNG’s adherence to UNFCCC safeguard requirements”, said Mr. Lakain. “As the country is in the readiness stage of implementing REDD+, the National REDD+ Safeguards Guidelines will guide the process in all levels of governance moving forward”, added Mr. Lakain. Stakeholders participated at the workshop comprised of representatives from civil society organizations, the private sector, the Government, and the development partners. The workshop also informed participants on an Australian Government funded climate change and biodiversity conservation project known as “Enabling Green Growth in Papua New Guinea to address Climate Change, Conservation and Biodiversity’’. The project will last for seven months and has a total Budget Allocation of AUD 850,000. The Climate Change, Conservation and Biodiversity project will support PNG in developing and revising key legislation and policy documents such as the Climate Change Management Act (CCMA) regulations including the National REDD+ Safeguards Guidelines and regulations and others. Ruben Seaton, representing the Australian High Commission thanked CCDA and partners for the opportunity to partner with Australia to advance PNG’s efforts in addressing climate change under this project. Head of FAO PNG Office, Mr. Bir Mandal, applauded the active involvement of Civil Society Organizations on the REDD+ Safeguards Guidelines formulation process. He said PNG’s biodiversity is under threat and the country is vulnerable to the impacts of climate change therefore collective actions are crucial. The two-day workshop is supported by the Australian Government, Green Climate Fund (GCF), UNREDD, Global Environment Facility (GEF), and the Food and Agriculture Organization (FAO) of the United Nations. CCDA’s Acting Managing Director William Lakain, on behalf of CCDA, acknowledged the support of the Government of Australia, FAO, GCF, UNREDD, GEF and all the key stakeholders for their participation and support and contributions to these documents.

BSP Financial Group Limited (BSP) is in the process of filing a new application in the Supreme Court under Section 18 (1) of the Constitution to declare the amendments to the Income Tax Act, which introduces the “Additional Company Tax”, as unconstitutional, according to BSP CEO, Mr Robin Fleming. Mr Fleming re-iterated that it has always been BSP’s intent to challenge the Act. BSP is also challenging those amendments that impose a Market Concentration Levy. This follows the Supreme Court granting leave for BSP to withdraw the initial application on Thursday 25 August 2022, to allow BSP to meet certain new requirements imposed by the Supreme Court for Applications under Section 18 (1) of the Constitution. The initial Application was filed by BSP on 20 May 2022, challenging certain amendments to the Income Tax Act which effectively imposes on BSP an Additional Company Tax of K190 million each financial year commencing in 2022 and/ or a Market Concentration levy of the same amount. On 7 July 2022, in an unrelated Supreme Court proceeding, an application pursuant to section 18(1) of the Constitution by Justice Foundation For Porgera Limited was dismissed by the Supreme Court on the basis that the application did not meet certain signing requirements for a company making a Constitution Section 18 sub-section (1) application to the Supreme Court. In light of the Supreme Court decision in the Justice Foundation Case, BSP decided that to ensure that there were no issues with the Board’s approval of the application, it was necessary to seek leave to withdraw its initial Application under Section 18 (1) of the Constitution, whereupon it will file a new Application in the same or similar terms whilst also attending to the requirements in the Justice Foundation Case. It was on this basis that the Deputy Chief Justice his Honour Ambeng Kandakasi granted leave to BSP to withdraw the initial Application. Mr Fleming advised that BSP’s lawyers are well progressed to lodge a new application incorporating the new requirements of the Supreme Court. He reiterated that the Additional Company Tax and Market Concentration levy are effectively an arbitrary tax or levy on BSP’s shareholders and the Application will seek to render this tax (levy) unconstitutional and invalid.

The Australian Government and Australia Post will today announce a new Pacific Postal Development Partnership to strengthen postal services in the Pacific and sign a joint declaration with the Universal Postal Union (UPU) and AsianPacific Postal Union (APPU). Announced in Bangkok on the sidelines of the 13th APPU Congress, the partnership will improve the efficiency and security of postal services between Australia and Pacific island countries, benefiting consumers and businesses, including the estimated 200,000 people living in Australia with Pacific Island heritage. To support the three-year partnership, the Government has provided Australia Post with a $450,000 contribution to target improvements to postal systems, processes, technology and training in the region. This funding will be supplemented by Australia Post’s expertise and in-kind support, including equipment that can help meet the needs of Pacific postal operators. Today’s signing of this landmark joint declaration both brings Australia closer together with key multilateral institutions in the postal sector and aligns our respective efforts. The declaration will enable a coordinated approach to regional postal development, supporting Pacific island countries to continue to modernise their postal services, capture emerging opportunities and new markets, and showcase the value of the region’s postal sector globally. The declaration will be signed by Australia’s Ambassador to Thailand, Dr Angela Macdonald PSM, Australia Post’s General Manager for International Services, Mr Michael Cope, the Director-General of the UPU, Mr Masahiko Metoki, and the Secretary General of the APPU, Mr Lin Hongliang. Postal services in the Pacific are some of the most under-developed as measured by the UPU’s Postal Development Index. This impacts businesses and consumers through slower average delivery times, disruption and delays. With the ongoing digitisation of the global economy, further investments will boost the ability of Pacific island countries to capture new market opportunities and meet consumer expectations to deliver secure, timely and efficient postal services. The Government and Australia Post will work with Pacific postal operators and governments to identify specific activities to be delivered to meet their individual needs. The first activities are expected to commence by the end of 2022. This partnership builds on Australia Post’s annual contribution of over $1.3 million to the Universal Postal Union to support global postal cooperation, and additional contributions such as a four-year commitment to further the global postal sector’s response to climate change.  

What better way to bring down the curtain on a stunning home and away season than by christening a shiny new stadium with an age-old rivalry. The Rabbitohs and the Roosters. Foundation clubs steeped in tradition. Enough bad blood and good yarns to fill three books of feuds. The rebuilt Allianz Stadium roars to life on Friday when the NRLW grand final rematch between the Roosters and Dragons is followed by the 1931 grand final rematch between the Roosters and Rabbitohs. Remarkably, Easts and Souths have played in just one decider since grand finals were introduced 92 years ago, try-scoring machine Benny Wearing helping the Bunnies to a 12-7 win at the Sydney Sports Ground on September 12, 1931. To coin a well-worn phrase, Mr Wearing certainly knew his way to the try-line, the Hall of Famer crossing 186 times in 228 first-class games, including 144 tries for the Rabbitohs, a club record that stood for 81 years until Nathan Merritt broke it in 2014. Merritt would enjoy the view from the summit for a considerably shorter time, with Alex Johnston’s hat-trick against Wests Tigers in Round 12 this year taking him to the top of the cardinal and myrtle tree.   Johnston has since taken his career tally to 164 tries and this week matches motors with another try-scoring machine in Daniel Tupou, who needs just eight more four-pointers to surpass Anthony Minichiello as the Roosters’ highest ever try-scorer. Such is their longevity and durability that Johnston and Tupou have been part of the past three finals meetings between the two arch-rivals, in 2014, 2018 and 2019. The stakes could not have been higher in the 2014 preliminary final at Stadium Australia – the Roosters one game away from a shot at defending their title from 2013, the Rabbitohs desperate to make the big dance for a shot at breaking a 43-year premiership drought. In the early going it was all the Roosters, with tries to Minichiello and Mitchell Pearce giving them a 12-0 lead before the Michael Maguire-coached Bunnies slipped into overdrive. Playing the 17th game of his debut season, Johnston grabbed his 20th try, while Greg Inglis bagged a double and Ben Te’o and Lote Tuqiri also scored in a resounding 32-22 win for Souths. The men from Redfern had booked their first grand final appearance since 1973 and ended Minichiello’s glittering career one week earlier than he had hoped for. A week later at the same venue Johnston capped a stunning first season by scoring the first try of the grand final, the Rabbitohs going on to destroy the Bulldogs 30-6 to claim their 21st premiership, six more than the Roosters. Come 2018 it was Tupou among the tries and on his way to a grand final when the Roosters downed the Rabbitohs 12-4 in the preliminary final while the 2019 qualifying final also went the Chooks’ way 30-6. The average winning margin in the five subsequent clashes has been a whopping 26 points, a far cry from the Monday night miracles of 2012, when the sides traded incredible comeback victories. In the opening round of the season, with 21-year-old Adam Reynolds launching his NRL career, the Rabbitohs looked home and hosed at 20-12 with three minutes to play. Displaying the never-say-die attitude that has become his trademark, Roosters hardman Jared Waerea-Hargreaves carried four defenders over the line with barely two minutes remaining to set up a grandstand finish. In the final set of the match, Mitchell Pearce slid across field and linked with Mitch Aubusson who found Boyd Cordner, the future club captain putting in a grubber for Minichiello to race onto the match-winner to send the Roosters into raptures. The Bunnies were shell shocked but come Round 19, they would have their revenge, coming from the clouds to win 24-22 at the very ground we head to on Friday night to write another chapter in this epic rivalry. After leading 12-4 at half-time the Rabbitohs conceded tries to Tautau Moga and Joey Leilua to fall behind by four and when Pearce finished off a superb team try to make it 22-12 Roosters with around four minutes left the game looked done. Throwing caution to the wind the Rabbitohs found a try through Merritt with under a minute to play and then straight from the kick-off they conjured one of the most talked about and replayed tries of the past decade. Receiving the ball with 45 seconds on the clock, giant back-rower Dave Taylor headed to the left side of the field and delivered a beautifully timed pass to Chris McQueen, who exploded into space leaving defenders strewn on the turf behind him. When he eventually ran out of room he found Merritt looming in support, the speedster going 25 metres before a desperation tackle forced him to offload to hooker Issac Luke, who was set upon by three scrambling Chooks. As he was heading to the turf just eight metres from the line, Luke lobbed a Hail Mary out the back where Reynolds was on hand to skip over the line and complete a length-of-the-field miracle that sent The Burrow barmy and prompted Fox Sports commentator Warren Smith to deliver this pearler - ‘you can take me now, I have seen it all’

Nasfund, has partnered with one of the country’s biggest business solutions, print technology, and service-led organization, Remington Group, to provide more value for Nasfund contributors. Through the Fund’s Membership Discount Program (MDP), Nasfund members can now enjoy the following discounts from services across Remington Group’s three business units; 12.5% discount on all Konica Minolta small office & home office devices from Remington Technologies nationwide, 15% discount on all FujiFilm small office & home office devices from FX Business Centre, and 10% discount printing, banners, business cards, photos & Corflutes from BizPrint & Scan. Remington Group CEO Peter Goodwin said this partnership seeks to provide outstanding value for Nasfund contributors, especially as we try to survive this most challenging economic environment. “Since 1948, Remington Group has developed an extensive portfolio of businesses which include Remington Technology, FX Business Centre, and BizPrint & Scan. We are delighted to offer these discounts to Nasfund members, through our three businesses (Remington Technology, FX Business Centre, and BizPrint & Scan). Nasfund members will have to show their Nasfund membership ID to take advantage of these discounts. This offer is available immediately, nationwide, and will be in place for the next 12 months.” According to Nasfund CEO Ian Tarutia, he welcomed the   Remington Group as its latest discount service provider to the Nasfund membership. “We thank Remington Group for coming on board the Fund’s MDP to provide discounts to our contributors. This offer certainly provides more value for our members, especially during these challenging times. We encourage our members to take advantage of this partnership, to save more while you work today. We are committed to supporting our MDP partners, as we work together to provide value for our members while they work, so that they are ready for tomorrow.”

The clean green energy projects initiative being championed by Prime Minister Hon. James Marape moves one step closer to take-off as he met the second time this month with Fortescue Future Industries South-East Asia President Allard M. Nooy in Port Moresby yesterday (29/08/22). The Prime Minister used this opportunity to connect the company directly to the Government’s working team to get the project off the ground, which he wants to see happen within 2022 and 2023. The meeting follows from the first PM Marape and Mr Nooy held in Singapore earlier this month during the PM Marape’s short visit to the country some days after his election. At the meeting this morning, Prime Minister Marape reassured Mr Nooy that he stood ready to speak at the high-level arena, while directing the State Negotiating Team to work with the company in processing the mechanisms needed to get the first project off the ground. The Prime Minister also committed the relevant agencies of the State to assist FFI progress this work immediately. PM Marape then came in strong with his reassurance that at the high-level, he would speak with the founder and owner of the company Dr. Andrew Forrest and proceed in making connections to markets in countries that have existing bi-lateral relations with Papua New Guinea. He highlighted Papua New Guinea’s strategic location in relation to the economies of both ASEAN (Association of South East Asian Nations) and APEC (Asia Pacific Economic Cooperation) nations, many of whom already have existing bi-lateral ties with PNG. He said with very high populations in these countries and PNG having all the right conditions to produce energy and food, the country was appropriately placed to contribute to both energy and food security in the region. PM Marape said: “At the high-level, if you want someone to market these things for you, our Government can market for you using the bi-lateral connections. We have strong relationship with China since 1975; with US at the bi-lateral level, with South Korea, India, Indonesia, Malaysia. These are big economies. “We are rightly placed to advocate for green energy. That is our competitive advantage. African nations do not have this; they are too far but we are right here. And we are here to support you. “We are ready to assemble a team. So by 2023, we not in concept anymore but get some project going.” PM Marape once more reassured the company on the opportunities available in Purari River, Gulf Province and the geothermal springs of West New Britain Province where the company has already established working sites based under two heads agreement signed between the State and FFI last year. The meeting, held at the Prime Minister’s office at Sir Manasupe House, was attended by Minister for Petroleum and Energy Hon. Kerenga Kua; Governor for West New Britain, Hon. Sasindran Muthuvel; Member for Rabaul, Hon. Graham Pinau Rumet; and Head of the State Negotiating Team Dairi Vele. President Nooy was accompanied by FFI PNG representative, Andy Hetra.

Daru Provincial Hospital received a brand-new Slit Lamp device to improve its eye care services to the public on Monday 4th of July through the Fred Hollows Foundation. The slit lamp is special microscope and light that allows examination of eyes in the three- dimensions, both inside and out to detect diseases or abnormalities . This will now enable the two eye clinicians to conduct proper examinations and diagnose eyes diseases on patients presenting with eye symptoms at the hospital. Prior to this, the eye specialists have been providing basic check-ups and treatments including subscription of glasses to patients. Specialist Eye Nurse Sister (Sr) Helen Gagole said, "There has been an increase in the number of patients with eye conditions in March this year prompting the need for expansion of this service at the hospital." "Plans for a proper eye- clinic setup and refurbishment are underway ," Sr. Gagole added. Western provincial Health Authority's Director for Curative Health Services Dr. Miriram Boge said, " This is an accurate diagnosis can be made with appropriate treatment and early referrals needed." Eye consultations are now available at the hospital on Fridays every week. There are about 300 known patients with preventable blindness in Western Province who need such vital service.  

The All Blacks have suffered three-straight losses on home soil for the first time ever after a shock defeat at the hands of Argentina on Saturday. The Pumas stunned New Zealand 25-18 in their Rugby Championship Test in Christchurch, beating the three-time world champions for the first time on Kiwi soil. Argentina scored their first ever win over New Zealand just two years ago in another championship match in Sydney, and Saturday's victory was from the same mould with magnificent defence backed up by iron discipline. "I'm very proud of our team, we are starting to believe what we can do, not just a magic moment like our first win (in Sydney)," said captain Julian Montoya. "Very, very happy, very, very proud, it's a very special moment for us." The boot of winger Emiliano Boffelli, who kicked five penalties, kept them in the contest when New Zealand scored two tries in the first half and kept them ahead after flanker Juan Martin Gonzalez had scored an opportunist second-half try. New Zealand, who played the last nine minutes with 14 men after Shannon Frizell was shown a yellow card, will almost certainly be plunged back into the crisis that was apparently ended by their victory over South Africa two weeks ago. Tries from Samisoni Taukei'aho and Caleb Clarke should have given them a comfortable lead at half-time, but ill-discipline throughout the match cost them dearly. "It certainly felt in the first half that we were more dominant in areas than we managed to show on the scoreboard," All Blacks captain Sam Cane said. "A lot of credit has to go to Argentina for the way they stuck in it and eventually turned the tables." The loss marked the first time in the All Blacks' 119-year history that they've suffered three-straight defeats on home soil. It also gives Argentina successive wins in the Rugby Championship for the first time ever after their impressive 48-17 thrashing of Australia in San Juan two weeks ago. The Pumas remain top of the championship standings on points difference ahead of Australia, who earlier beat South Africa 25-17 in Adelaide. The rugby world was left in pure disbelief as the All Blacks' crisis under new coach Ian Foster descended to new depths. Source: Aus sports.yahoo,.com

Kina has today announced an Net Profit After Tax of K45.6m an increase of 15% compared to the prior corresponding period (PCP). Kina’s 1H22 results reflect strong revenue growth and ongoing progress against the key strategic priorities of the Group. Kina remains committed to delivering improved returns by growing market share organically, disciplined expense management and a prudent approach to maintaining a resilient balance sheet. Revenue growth was evident across both net interest and non-interest income. Net interest income grew by 8% against PCP due to solid lending performance in SME and home lending. In non-interest income, merchant facility fees and FX income contributed to the 34% increase against PCP. In good news for shareholders, The Board has declared an unfranked half year dividend for the H122 of AUD 4.1 cents per share/ PGK 10.3 toea per share. Kina’s CEO and Managing Director, Greg Pawson said the result demonstrates top line growth momentum, execution of our digital initiatives and a solid start to lending for the half. “Over the past 6 months we have continued to build out our organic growth strategy. Increasing market share in our targeted segments remains the focus for 2022 supported by a robust balance sheet that ensures profitable growth. Underpinning revenue momentum is a disciplined approach to deliver customer-led digital solutions. The Launch of our ‘Single View’ is a market first in PNG. Single View enables customers to access their superannuation balances via Kina’s online banking channel.” Other key achievements for the half were: · New customer segment propositions Kina PRIME PLUS (home loans), Kina Private (mass affluent), Kina Venture (SME) · Established a Corporate Advisory Services Unit · Expansion of Business Banking footprint to key provincial centres · Implementation of customer analytics and artificial intelligence for AML and transactions monitoring · Several Key payment partnerships such as Pei Beta and Xero, · Digital channels income up by 92% and scheme card growth of 138% · Implemented Environment and Social Management System for commercial loan origination (in partnership with Asian Development Bank) · Development of the ESG strategy and objectives for implementation over H2 2022 · Expansion of MiBank financial inclusion partnership including the first co-branded branch in Alotau, Milne Bay province Performance snapshot: · Increase in NPAT by 15% to PGK 45.6m. · Loan book growth of 5%, to PGK 2.05b . · Net Interest Income increased by 8% to PGK 92.5m, compared to PGK 85.4m in the PCP. · Foreign Exchange (FX) grew by 10%. · Fees and Commissions increased by 34% against PCP due to the ongoing expansion of Kina’s digital channel network. · Cost to income increased 2% compared to PCP due to non-recurring expenditure in capability projects and initiatives targeted to drive sustained efficiency. · Kina’s Funds Administration business recorded NPAT of PGK 4.4m, with revenue growth of 12% . · The Funds Management business grew by 5% in total funds under management (PGK 5m). Banking – Lending growth of 5% The lending portfolio delivered solid results across Home and Corporate Lending. Home lending grew by PGK84.3m, representing 10% growth on the PCP with housing loans contributing 41% of loan book growth. Business lending experienced growth in Term and Asset Financing loans, Agriculture sector, with expectations for higher growth in the second half of the year – something is missing here. Deposits grew 12% over the past 6 months largely attributed to an increase in fixed term deposits resulting in a lengthening of the balance sheet duration. Net Interest Margin reduced to 6.2% due to a lower yield in government securities, strong growth in corporate deposits supporting a strong lending pipeline and acquiring additional share of customer transactional banking including FX and a deliberate strategy of participating in corporate lending. Funds Administration - Revenue growth of 12% Kina’s Funds Administration business recorded NPAT of PGK 4.4m, with revenue growth of 12% compared to PCP generated from improved value add services to superannuation clients. The Funds Management business grew by 5% in total funds under management (PGK 5m), maintaining Kina’s market share in this sector. Strategy and Outlook Kina’s purpose is to constantly improve the prosperity of the people, communities, and markets it serves. The bank achieves this by being the most dynamic, progressive, and accessible financial services organization in the Pan Pacific. To deliver on our purpose the bank developed a series of priorities. Kina is on track to deliver against its 2025 strategic plan. The plan will continue to drive organic growth in the core banking business and a leading edge digital customer experience, focused on organisational sustainability and corporate responsibility. Kina aims to continue its current trajectory of pursuing targeted market growth, customer service excellence, digital on-boarding and transactional processing, and strategic partnerships to extend our network coverage. These initiatives include: · Home loan and SME growth in key target segments · Digital onboarding through Electronic Know Your Customer (E-KYC) · Enhancing data capabilities to proactively manage risk · Building a workforce capability that reflects our strategic requirements. · Embedding our ESG strategy through our Environment and Social Management Systems. Mr Pawson said the growth agenda remains our key focus in the second half. “Our aspirations to be the most sustainable leader in PNG will drive our agenda. Our regional branch expansion and appointment of additional business advisors will support our growth targets, efficiency initiatives will improve our expense base and creating a dynamic workforce with a digital mindset will set Kina up to deliver prosperity for our communities”.