The Independent Consumer and Competition Commission (ICCC) wishes to inform stakeholders and the general public that relevant parties to this proposed sale; namely Kina Bank and Westpac PNG, have already approached the ICCC for initial consultations. The ICCC has received verbal undertaking from the parties that they will go through the relevant processes required under the Independent Consumer and Competition Commission Act, 2002 (ICCC Act) to seek ICCC’s approval before completing the proposed transaction. ICCC Commissioner and Chief Executive Officer, Paulus Ain, said that the ICCC is aware of the proposed deal and is awaiting the parties to submit a…
Author: PNG Haus Bung
Kina Bank’s acquisition of Westpac Bank’s operations in the Pacific once done, will see the bank expand its operations as par it’s 2025 strategy to become a leading full service regional bank in the Pacific Region, with a market leading digital platform. Kina Securities Limited (Kina or Kina Bank or the Company) announced this week that it has entered into sales and purchase agreements to acquire 89.91% of Westpac banking operations in Papua New Guinea (PNG) and 100% of Fiji Westpac Banking Corporation. The Kina Bank in a statement said its customer base, employers, branches, ATMs, Net Loans, and EFTPOS…
The Secretary for Department of Higher Education, Research, Science & Technology Professor Fr Jan Czuba, was arrested and charged by the National Fraud & Anti-Corruption Directorate (NFACD) yesterday in Port Moresby for K4.2million fraud. Professor Fr Jan Czuba,61 of Giwice, Poland was charged with one count of official corruption and 9 counts of abuse of office. Fr Czuba is the current Secretary for the Department of Higher Education, Research, Science & Technology and committed the offences whilst in office. He has served in the position since 2017 when he was appointed by the Government. Previously Fr Jan Czuba was the…
Nestled in the National Capital District (NCD), yet minutes’ drive off the City of Port Moresby is a primary school, Bomana Primary School. You can see hoary infrastructure, but nothing was going to stop the enthusiasm of happy children and teachers who were keen to launch their newly established double classroom funded by Bank South Pacific (BSP) through the bank’s annual community project initiative, which was delivered by BSP Gordons Premium Branch. The school that serves the surrounding community of Bomana and 9-mile was abuzz for the momentous occasion that occurred after a long time. That is no small feat…
Deputy Speaker Hon Koni Iguan has welcomed the five-bench Supreme Court decision affirming all his rulings in Parliament on Friday, 13th of November 2020. “I want to thank people of PNG for their prayers. And I am looking forward to work with the Speaker to do as the Supreme Court has ruled,” said Mr Iguan. ‘I want to appeal to leaders on both sides of Parliament to respect the rule of law and meet on 14th of December 2020 to sort out all these matters and set a way forward for our people and our country,” a relieved Mr Iguan…
Prime Minister Hon. James Marape has called on all Papua New Guineans to accept today’s Supreme Court ruling in favor of Ialibu-Pangia MP Peter O’Neill. He also asserted that there was no vacancy for the position of Prime Minister he was holding. Prime Minister Marape said this immediately after today’s Supreme Court ruling. “Today, our Supreme Court made its ruling on the matter Hon. Peter O’Neill filed,” he said. “I appeal to our citizens to respect the ruling of the High Court of our country in favor of Hon. O’Neill’s Supreme Court reference. “Our country’s judiciary is the better arm…
The Supreme Court has ordered that parliament must reconvene its November sitting next Monday 14th December 2020 and has declared all proceedings of the November 17 sitting unconstitutional and invalid. These includes the passage of the 2021 budget by government MP’s and the adjournment of parliament until April 20, 2021. The high court’s decision was unanimously in favour of the Opposition challenging the legal standing in the November 17 sitting of parliament which was recalled by the Speaker Job Pomat overruling an earlier decision by Deputy Speaker Koni Iguan to adjourn parliament to December 01. The court also declared that…
Mt Hagen, WHP; Wednesday 9th December; Building of safer toilets with tippy taps is vital for rural communities to be healthy and safe from harmful sicknesses. A community leader John Dupi from Pupral in Western Highlands Province emphasized this when referring to his newly built toilet with a tippy tap that was built with help through the European Union-UNICEF PNG Government WASH Project. “In the past, we didn’t know to build safer and proper toilets even-though we had all the necessary bush materials to build toilets, we thought defecating in the bushes was better,” “even handwashing was not a concern…
Prop forward Thomas Flegler has committed to the Brisbane Broncos for another two seasons. The 21-year-old from Innisfail has extended his current deal with Brisbane to the end of the 2023 season, turning down interest from other NRL clubs. A Tully Tiger as a junior, Flegler has played 36 NRL games since making his debut in Round 1, 2019 against the Melbourne Storm. He made 13 appearances last season before a season-ending shoulder injury against Canberra in Round 14, which required Laterjet surgery. Flegler said: “I’ve been really happy at the Broncos and I like Brisbane so it was a…
The Flying Fijians are set to play the All Blacks next year in what would be their first test against the three-time world champions in a decade. Fiji have played New Zealand nine previous occasions, including five tests, the last of which was a 60-14 defeat in the last ever test at Carisbrook in Dunedin in 2011. Fiji Rugby chief executive John O’Connor said they were also in talks to host Ireland during the July test window, when the British and Irish Lions were scheduled to be in South Africa. “I think next year we have the All Blacks so…