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26/06/2024

What a thrilling decider it was yesterday night. Click the link to read the full story. Your one and only Sports Tok Magazine got you covered. 🏀🏆🇵🇬

The Institute of Business Studies University (IBSU) Hammers have pulled off a gutsy 51-34 victory over the University of Papua New Guinea (UPNG) Chiefs team 1 to clinch the 2024 Intervarsity Basketball Tournament on Tuesday, June 23rd, at UPNG Basketball Court in Port Moresby. Four tertiary institut...

13/07/2023

Google has unveiled a groundbreaking Quantum Computer that leaves its competitors in the dust, calculating complex equations in mere seconds that others would need 47 years to complete.

This quantum computing advancement is a game-changer, signifying a monumental shift in computational power.

13/07/2023

LCA WORKFORCE CUT DOWN TO BOOST REVENUE

Post Courier Online

The Lae City Authority has reduced it's cumbersome workforce from a massive 600 down to 96, removing 140 ghost names from it's payroll and increased it's internal revenue from K5 million to more than K60 million in six years, says Lae MP and Deputy Prime Minister John Rosso.

These are massive achievements which reflect the desire to restore Lae, said Rosso, who was in Lae on the weekend on the launching of the Rosso Mountain Bike Race, a community event that he said will help the change process.

"Everything boils down to money - how we grow the money, how we manage that money and how we utilise the money," a determined Rosso said.

"And we've been pretty lucky. When we first started, we had K5 million as the total revenue for Lae. And we had K30 million in debts when I first started. And we had budgets of K30 or K50 million on paper.

"You have to make money inorder for anything to work. So one of the first things we did was cutting out all the white-collar paper contractors and others, and now the reorganised LCA is working in a lot more efficient manner.

We had about 600 people on the payroll. We got rid of about 140 ghost names on the payroll, and we are saving money that is going back to infrastructures and other needs. Our overheads have now been slashed, its now 10 percent of what it used to be, which was about 50 percent.

"We have reduced our workforce from 600 down to 96. We have cut out all the paper contractors, and middlemen, and the money goes straight down to the workers.

"For example, you see mothers cleaning and beautifying the city, they get paid directly - no more middlemen or contractors.

"Our internal revenue is now about K10 million, and it can go up to K30 million or K40 million after we tidy up a few more things. In our third year, we negotiated and got 20 percent of all GST raised in Lae, but in the last session of parliament, we have passed the law to make it 25 percent.

Twenty-five percent of GST from Lae now comes back to the rate payers of Lae.

"That is a huge achievement that will outlive me. When I leave politics, that 25 percent revenue stays. So now our budget for Lae has exceeded K60 million, from a K5 million (when we first started), and a K30 million hole (debt).

That's why we can afford better classrooms. All that is because our money, from our taxpayers, goes back into providing services for the community.

Source: Ismael Gwaso - Post Courier Online

10/07/2023

COURT TO HAND DOWN K2.7B CLAIM BY YAMA AGAINST BSP

Postcourier
10th July 2023
By TODAGIA KELOLA

The National court is expected to hand down a decision on whether the Bank of South Pacific (BSP) Limited is liable to pay a massive K2.7 billion to businessman and former Madang Governor Peter Yama and his group of companies.

The proceeding was filed in 2015, and a trial was conducted and concluded in October 2017.

Last Friday, after almost five years, the matter returned for mention, in which the presiding judge Justice Ere Kariko ordered that a judgement will be handed down on August 3, 2023.

He also ordered that for the purpose of the delivery of the judgement, overseas counsels who attended the trial, Manuel Varitmos and Ian Molloy, be permitted to appear by video link on that date.

Yama and his group of companies; Yama Security Services, Smugglers Inn Resort, Niesenel No 77, Madang Taxi Hire, Siar Coffee Mill, Ace Guards, Simoi Shipping and Yaul Plantation, are seeking damages from the bank on allegations that the bank had committed a number of illegal actions, including: the creation of fixed and floating charges that were fraudulently imposedon his companies in 2000 without his knowledge.

The back ground of the court battle between Yama and the Bank of South Pacific, was that the Yama Group of Companies had outstanding loans which were yet to be settled with the then Papua New Guinea Banking Corporation in 1999.

In 2002, PNGBC was bought off by Bank of South Pacific with all its assets and liabilities transferred to BSP, including the outstanding loans of the Yama Group of Companies.

This led to a number of court battles between Yama and BSP over two decades.

During those proceedings, Mr Yama had contended in the various challenges that BSP was involved in corporate fraud against his companies, the Yama Group of Companies.

He had put to the court that the bank had committed a number of illegal actions, including fixed and floating charges, allegedly imposed fraudulently on his companies without their knowledge in 2000.

In 2014, a three-men Supreme Court bench comprising the Chief Justice Sir Gibbs Salika, who was the then Deputy Chief Justice, and senior judges Justice’s Ellenas Batari and the late Justice Salatiel Lenalia, ruled in favour of the Yama Group of Companies, in that the Yama Group had suffered loss of business as a result of the reliance on invalid fixed floating charges imposed by the bank.

In their decision at that time, they cited two related National Court proceedings, N4407 Yama Security Limited vs Adrian Warupi and Motor Vehicle Insurance Trust Limited and Bank South Pacific Limited, in which the court found that fixed floating charges relied on by the bank were invalid and could not be relied on and another a criminal proceeding N5350 the State vs Garth McIlwain, which also ruled that the fixed floating charges were the same that were dealt by the civil proceedings.

The three-men bench had stated that: “It follows then that the issues no longer exist.

The proceedings from the beginning have been a nullity. All previous proceedings taken out by the appellants (BSP) related to the fixed floating charges have all along been a nullity.

As a result of the long-drawn-out proceedings, parties have been affected adversely.

The Smugglers Inn for example and the Yama Group of Companies have suffered business as a result of the reliance on the invalid floating charges by the appellants.”

The bench went on further and said the two applicants have not appealed against the findings of the two National Court decisions so their respective findings remain.

The challenge and claim by Mr Yama, if granted, will be the biggest court ordered judgement apart from the Pako FC and Cloudy Bay, which is K117 million.

09/07/2023

\\\ No NID No Pay in NCD ///

The practise of giving extra cash money under the table to government service officers is at a whole new high, as public servants, mostly teachers and health workers in NCD try their best to get immediate registrations into the government’s ailing National ID system.

This mad rush has come about due to the PNG’s Minister of Public Service, Joe Sungi directing the Department of Personal Ministry (DPM) to adhere to his ministerial directive dated 26th January 2023.

The ministerial directive by Sungi states that, by payroll no. 16 (first pay August 2023), any public servant in NCD without a valid NID will not get paid.

From the admin’s desk, we would like to sincerely direct all health workers and teachers in NCD to take the next 3-weeks off and fix your NID cards.

Ol skul pikinini and sick mahn-meri can wait. Your pay is more important during this harsh economic recession period 😁

09/07/2023

Today marks the anniversary of the first time the Aboriginal flag was raised, on 9 July 1971 in Tarntanyangga / Victoria Square, Adelaide. Designed by Luritja man Harold Thomas, the flag represents the Aboriginal peoples of Australia and their enduring spiritual connection to the land.

On 14 July 1995, the then-Governor General of Australia William Hayden proclaimed that both the Aboriginal flag and the Torres Strait Islander flag were official flags of Australia, under the Flags Act 1953. On 24 January 2022, copyright for the flag was transferred to the Commonwealth.

The Aboriginal flag has long been a symbol of resistance and has unified First Nations Australians.

📷 Two men holding an Aboriginal flag at the opening of Parliament House Canberra in 1988. Photo courtesy of the National Archives of Australia.

05/07/2023

Prime Minister, James Marape extends his heartfelt appreciation to Indonesian President H.E. Joko Widodo for his immensely successful one-day visit to Papua New Guinea on Wednesday, July 5, 2023.

The visit resulted in several significant accomplishments and outcomes.

Reflecting on the visit as President Widodo departed Port Moresby, Prime Minister Marape expressed his jubilation and commendation for the fruitful discussions and achievements reached during the high-level engagement.

"We are deeply honored to host President Widodo, especially considering Indonesia's remarkable position as the 16th-largest economy in the world with a nominal gross domestic product (GDP) of US$1.392 trillion and the 7th-largest by purchasing power parity (PPP) GDP of US$4.398 trillion. We are privileged to have such an economic giant as our neighbor," Prime Minister Marape remarked.

He further emphasised the significance of President Widodo's monumental visit, which focused not only on government-to-government matters but also on the core objectives of Marape's Pangu Pati: fostering economic growth and enhancing commerce and trade relations.

"The business relations between Indonesia and Papua New Guinea have reached unprecedented levels," Prime Minister Marape declared.

"We have opened the doors for increased business-to-business engagements between our two countries."

To facilitate this collaboration at the highest level, Prime Minister Marape announced the establishment of a task force, led by Deputy Prime Minister Hon. John Rosso and International Trade and Investment Minister Hon. Richard Maru, in partnership with the Indonesian counterparts.

One of the notable achievements of the visit was the agreement for Indonesia to sponsor 2,000 Papua New Guinean students to pursue higher education in Indonesian colleges and universities. Prime Minister Marape highlighted the reciprocity of the arrangement, stating, "For every student Indonesia sponsors, we will match their support by sponsoring another student from Papua New Guinea. We aim to foster increased business-to-business and people-to-people relations between our nations."

Recognising Indonesia's standing as an economic powerhouse in terms of commerce and trade, Prime Minister Marape expressed the commitment of Papua New Guinea to work closely with Indonesia on trade protocols and border-related issues, with the shared goal of elevating their bilateral relationship to new heights.

Prime Minister Marape concluded by expressing his gratitude once again to President Widodo for his visit and the positive outcomes achieved, expressing optimism for a future characterised by robust cooperation and mutual prosperity.

05/07/2023

Citilink opens Bali-Papua New Guinea route – becoming Indonesia’s first airline with a direct flight connecting the two nations. Citilink has confirmed that there will now be direct flights from Bali to Port Moresby twice a week. Both Nations Stand to benefit from Increased Tourism, Business & Travel Opportunities. Perks Include free luggage up to 20kg
Via Airlines Inc