Who Are Stockbrokers and What Are Their Roles?

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As is our goal of making learning easy for you, we again discuss what a stockbroker is and what his or her roles are. Our main topic of discussion is shares so it’s important to know where in the whole process of stock trading does the stockbroker fits in.

In our previous post How Does A Stock Exchange Operate? We discussed briefly the role of a stockbroker. After you complete reading this post, we suggest you read that post to increase your knowledge on how, our exchange, called the Port Moresby Stock Exchange (POMSoX) works. It’s quite simple than many think.

Enough said. Ok! So what is a stockbroker? Let’s start with an example. Think of a big fresh produce market like the Lae main market located in the heart of Lae city.

In Lae main market, buyers and sellers of fresh produce physically present themselves to do the buying and selling.

Now in an exchange like ours, the POMSoX, buyers and sellers don’t buy and sell fresh produce. Instead they buy and sell SHARES, which as defined earlier is the basic unit of a company’s ownership. Buying a share means you own part of a company whose share you bought.

However, unlike the fresh produce markets, in POMSoX, the buying and selling of shares is done by middleman called stockbrokers.

Stockbrokers are the middleman that do the buying and selling on behalf of their clients and are also independent financial advisors who advise their clients on all forms of investment advice including shares investing.

According to Law, not just anybody can become stockbroker. And according to Law, you can only buy and sell shares in POMSoX through a stockbroker.

There are two stockbrokers in Papua New Guinea.

  1. BSP capital
  2. Kina Securities

QUICK WRAP UP: What is a stock broker and what are his roles? A stockbroker is a middleman who buys and sells shares on behalf of investors.

Because they buy and sell shares onbehalf of you, they charge their service fee called the brokerage fee. Brokers like BSP Capital or Kina Securities offer free consultation. Once you decide to buy or sell shares, and when you actually execute it via your broker, then you will be required to buy the brokerage fee that varies from each broker.

 Word of Caution

Stockbrokers are financial advisors. They make money from you buying and selling shares. So it is logical for a broker to urge you to go ahead and buy or sell shares. See the logic? If you don’t buy or sell, they don’t make commission. This is not to say, that stock brokers cheat. No. No. No. Infect we have a beautiful female stockbroker from Kina securities that helps us a lot.

Our advice is before you approach a stock broker, you should learn about the thing call STOCK TRADING and learn it well. That is so that you can act on your own thoughts and the stockbroker be your guide. We have long hours of discussions with our stock broker because we do our own analysis on which stocks to buy and at what price to buy and such and our broker only guides as with her views.

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Young PNG model surfing the waves of international modelling

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Noreen Pisa, as she is known was born in Port Moresby General Hospital to a very beautiful couple who she says were very much in love.

“I was the last born to a family of four. My dad is from Ialibu, Southern Highlands and my mother is also a Southern Highlander from Kagua” she tells fastbusiness

Her dad is a Chief Warrant Officer and a Pipe Major (PNGDF Music Director) in PNGDF Taurama Barracks and her mother, a house wife.

She grew up in Taurama Barracks in a very closely knitted community were everyone knows everyone.

She did her grade 1-8 in  1996-2003 at Taurama Primary School.

Unfortunately, her mum passed away due to health issues when she was in grade 7.

Here is how she recounts her mum’s loss.

“My life changed from there on. I learned to become more and more independent” she tells fastbusiness.

“It was very tough at that very young age. But my dad became my mother as well as my father” she proudly says.

“He did things that I don’t think any father would do. From dealing with my teenage dramas to dealing with my boy issues and the rest. He is my hero. He had molded me into the person I am today because he had trust in me. I grew up in a Christian family, where I was thought to respect others and treat people the way you want to be treated.  I am very much a daddy’s girl and still now he calls me his baby” she says laughing.

The struggles in her life, instead of knocking her off her feet, boosted her moral to be the best for herself and her family.

Noreen graduated from year 8 with all distinctions and made into Kila Kila Secondary School where she did her grade 9 to 10 as she recalls with smile.

She then went to do her Grade 11 in Port Moresby International and half of Grade 11 and 12 in Marianville Secondary School taking up Physics and Math A.

“Physics was my favorite subject. I was always an A student but because of losing mum at a tender age caused me to drop interest in school and my marks dropped” she recounts.

She however, made it into UPNG (open college) Science Foundation but due to financial issues she wasn’t able to complete her studies.

“I wanted to get into Geology. I had a plan to start working saving up for myself and go back into Uni. I started working in hospitality industry. I wasn’t like my other friends who were fortunate to have parents paying for them through Uni. I had to do on my own because my father was supporting my older sisters with their Uni fees and I didn’t want to be an extra burden therefore I had to pull out” she says.

The biggest ever challenged she faced in her life as she tells fastbusiness with a sad tone, yet with greater confidence and conviction is the passing of her mum at a tender age.

“My mother’s passing away at a very young age was obviously a major challenge. Growing up without a motherly figure was very tough”

She also points out that another challenge she faces is having to be a very outgoing and always a happy person.

“I had fair share of haters, it can be really tough” she grins

She proudly says her father is the biggest role model in her life.

“My father was my biggest role model growing up and still is. He came from a humble beginning from a little village called Ponowi in Southern Highlands Province. Made it into the PNGDF when he was only 16 years old now he is now 65 and has traveled the world doing what he loves. Along the way he rubbed shoulders and made friends with famous and powerful people and still has stays a humble man”

Just like any other girls growing up in a big busy city like Port Moresby, Noreen had her childhood dreams.

“As like many other little girls, I dreamed of becoming a model. I was a little fashion diva. I remember around the ages of 4-7 I would dress up in my older sister’s clothes and put on their high heels, makeup and walk the corridor of my house as my runway with my family sitting around cheering me…good old memories” she says with a broad grin on her beautiful face.

“Never imagined I would do that in few years’ time with high heels that would actually fit. In primary school my dream was to become a pilot and as I grew older and went into high school I was interested in working in the mines instead. I wanted to be a mining geologist”

She however says that her others dream have changed over the years but her dream on being a model stayed.

“My dreams have changed over the years but ironically I’ve ended up doing what I love as a little girl” she says and adds “Maybe because I never stop dreaming of it”

When asked about one thing she wish she changed about her, she like Billionaire Warren Buffet, says “I wish I started earlier”

In her own words;

“If I could change one thing it would be, I wish I could have started this career at a younger age while I was in PNG”

Today, success is a predictable as sun rising and setting. Anyone, anywhere can be successful in their dreams, but the magic is to start early as Noreen highlights. Early in this sense, means today. Early doesn’t mean you wait till tomorrow. Get up, get dirty and move on. That’s what we call success and that’s what Noreen is doing.

Noreen is reaping the benefits of her commitment and perseverance as she recounts below;

“I had the opportunity to travel so I took it. I started doing modelling in Vanuatu for a fashion Designer who was previously working backstage in Paris Fashion shows. She had her own Fashion Label in Vanuatu called Jojo Fashion where she designs beautiful summer clothes. I was one of the models who parade her garments in local resorts in Vanuatu every week as a runway fashion show. Even did catalogue modelling for her business website. When I moved to Australia I decided to continue modelling and started by entering modelling competitions with other aspiring models”

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Noreen works with several modelling agencies and the websites and two common ones she gave fastbusiness are StarNow and Model Mayhem

http://www.modelmayhem.com/3047710

http://www.starnow.com.au/noreenpissa

10575911_538519146274570_235541455_n 10570614_538519129607905_782947572_n 10569867_538519139607904_495072965_n Despite her success, there are still negative feedbacks from fellow Papua New Guineans.

“Although most of my family and friends are very supportive with my work it is very challenging to get negative feedback from Papua New Guinea people especially when I believe I am promoting PNG women in a positive sense.

“I believe that there is a future there in PNG modelling. We have been blessed with great physical features, exotic looks, as well as outgoing personalities which is one most important thing to have in this industry. But if we do not change our typical mentality it may be too challenging for young people to continue to believe in themselves and pursue their dreams”

As her career demands, Noreen is highly conscious of her health and fitness.

“I have always been this sporty kid growing up even till now playing beach volleyball and netball once a week. Pretty much my lifestyle revolves around health and fitness. I’m always a fan of healthy diet and regular exercise. Before a photo shoots or competition, my diet is strictly lean protein and gym session 5 times a week.

“Having a healthy lifestyle is ideally suited to the work I am doing and having a toned and fit body does add to my confidence to parade around as a model. I have met a lot of young models who have done so well and traveled places even took up acting that motivates me to continue this journey. My goal this year is to be a Fitness Model” she says

This September as she notes will a big fitness competition call INBA (International Natural Bodybuilding Association) were she will be competing in fitness model category.

“This has been one of my motivation tools as well” she says

Five years from now Noreen wants to get into fashion designing and owning her own shop and run her own gym in PNG and Australia and be an advocator of health and fitness. She also wants to further her studies to achieve in order to achieve her goal.

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Fast Business asked Noreen what advice she has for young Papua New Guinea women who wish to take up modeling. She says;

“My advice to my fellow PNG women who wish to take up modelling is to always believe in yourself and never ever think that you are not good enough. Like my favorite quote I have lived by “IF YOU CAN DREAM IT, YOU CAN DO IT”.

  • Dream big and never give up on your dreams
  • Always surround yourself with positive people and likeminded people who will build you up
  • Chose to make health and fitness your lifestyle
  • Everyone has a right to their opinion but do not let their negative opinion about you get to you.
  • Mistakes are always a lesson never a failure

Note: All Photo used in the article were supplied by Noreen and are subjected to International Copy Rights Laws.

 

PNG library advisor to attend Global Libraries initiative program in Ausy and NZ

Mary Warus

Mary Warus

Mary Warus, a library adviser for schools, public libraries, and government libraries in Papua New Guinea (PNG) will be attending International Network of Emerging Library Innovators (INELI) Australia and then in New Zealand.

The INELI – Oceania as Mary says is a two year leadership development program for emerging library leaders from Australia, New Zealand and the South Pacific.

“Participants are brought together in a program design to develop their effectiveness as leaders and innovators able to contribute significantly to the future development of public libraries in the region.

“The program is funded by the Bill & Melinda Gates Foundation and is based on their successful Global Libraries’ initiative INELI (International Network of Emerging Innovators) established in 2011” Mary says.

The objective of the INELI-Oceania program is to create a regional network of emerging library innovators and foster collaboration and partnerships among stakeholders in the region.

The program according to Mary will be delivered in partnership with ALIA (Australia Library and Information association); LIANZA (Library and Information Association of New Zealand Aotearoa); and NSLA (National and State Library of Australasia). Other organisations offering sponsorship for the program include State Library of Australia, national library of New Zealand, State Library of Queensland, the State Library of Victoria and Public Libraries Victoria Network as well as Yarra Plenty Regional Library and Auckland City Libraries.

“INELI-Oceania will build the skill level of participants through online learning modules and workshops held during two convenings. There will be two cohorts of INELI-Oceania with at least 16 participants, 4 sponsors and 4 mentors involved in each program, along with an experienced learning facilitator” Mary says.

The first cohort of INELI-Oceania will include 16 library professional from New Zealand (6), Australia (6), and South Pacific (4).
Mary Kairu Warus, a returning Australian Leadership Awardee, a Library Adviser at the National Library of Papua New Guinea, Office of Libraries and Archives has been selected and offered a position on the INELI-Oceania program. She is the only representative selected to represent Papua New Guinea, on this INELI-Oceania program.

Mary is selected with other participants from Oceania countries who demonstrate a potential for: leadership, innovation and collaboration. The INELI-Oceania program participants will be expected to engage in program activities for 2 years from May 2014 through the second Convening in June 2016. It is anticipated that it will require 1 to 2 hours per week to complete the Skills Building modules and participate in the INELI-Oceania online community.

Papua New Guinea has 20 public libraries after it has gained independence in 1975. These libraries were than under the umbrella of the National Library Service of Papua New Guinea but until then its functions were than taken away and transferred and managed by the 20 provincial governments. To date many of these public libraries have closed and currently only 6 are operating.

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Mary is confident that her participation in the program will be beneficial to the development of public libraries in Papua New Guinea,

“The aim of attending this 2 year leadership program is to significantly contribute to the future development of public libraries in Papua New Guinea, to help restore back what has dead away. This 2 year program will also help Mary to create and network with emerging library innovators from Oceania countries and foster collaboration and partnership among stakeholders in the region to see ways or best practices to help restore public library services in Papua New Guinea.

“If public libraries in each provinces are restored this will help drive literacy rates to increase. The National Library Service of Papua New Guinea can help but needs the support of the government, stakeholders and donor agencies to see the importance of the love for books, reading and libraries by giving the people of Papua New Guinea greater access to information” Mary says.

What are shares?

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We did a post earlier on shares. However, post of our readers are still asking the same question;What are shares?

So in this short post, we will very pretty much focused on defining what shares are and maybe give an overview that would give you some head start on your education on shares.

Before we go straight to the definition, let’s establish the reason why the thing call shares exist.

You see, big companies like Bank South Pacific (BSP), Oil Search Limited, New Britain Palm Oil Limited, City Pharmacy Limited, Steamships Trading Limited and many more others listed on Port Moresby Stock Exchange (POMSoX) as well as other not listed require so much money for their operations.

Sometimes, a company may wish to expand its business and require extra money to do so. In some instances, a new business may wish to raise more money for its operations. Either way, be it an expansion of an existing business or a new business needing capital to boost growth, large amount of money is required.

You may be wondering, how these companies get those huge sums of money to fund their operations. Well! Buckle up cause you will soon discover where SHARES fit in this puzzle.

When a company is in need of additional capital, there are generally two ways it can raise the capital. One is by borrowing money from financiers who then ask for something in return for providing their money to the company who asks for money.

The other method, which is of interest to us is by selling shares. Shares? Yes. You head us right. Shares.

Both methods, borrowing money and selling shares have their own advantages and disadvantages but we won’t go into detail on that as the focus of this post is to define shares and make it very clear so you don’t have to again ask the question

‘What are shares?

A share is a basic unit of ownership in a company. When you buy a share issued by a company, for instance BSP, than you are a part owner of BSP. For instance, if you bought 100 BSP shares, then you own 100 units of BSP at a given market price. If one basic unit of BSP ownership or share is sold at K7, and if you bought 100 shares, than you would have spent K700 (100 shares X K7 per share). If the price declines, you lose money. If the price increases, then you make money on your investment. When to buy and sell your share is a very personal choice.

The companies that you can buy shares from are called Publicly Listed Companies and are listed at POMSoX.

Like POMSoX, there are other exchanges all around the world where thousands of companies are listed. These overseas companies, like the local ones in POMSoX also issue shares that you can buy. You can buy or sell shares locally at POMSoX or do the same in overseas exchanges. Our advice is you educate yourself on the art of investing in share market. Read everything you can find about shares in this blog.

Once you are confident on investing in shares, buy few shares of a listed company in POMSoX. Go through the buy and sell process to know how the system works. Learn also how to analyze companies and buy the ones that have future growth and profitability prospects.

When you are well versed with the art of investing in shares at POMSoX, then you can venture into overseas exchanges.

….Always have in mind that a share represents the underlying value of a company. Do you know the true values of the company whose shares you intend to buy? If you do, great. Go ahead and buy. If you don’t, you have few more things to learn before you buy. Read out brief Introduction to Value Investing that is intended to help you make an informed decision on whether go ahead straight and buy or do you educate yourself further and do your own research before taking action.

BSP brings new lease of life to Meri Seif Haus

Press Release

Victims of domestic violence who seek care and counselling at Meri Seif Haus will now have access to increased comfort and safety, thanks to a newly refurbished safe house, renovated by Bank South Pacific (BSP).

Through the bank’s Community Projects Initiative, staff from BSP’s Operations Strategic Business Unit volunteered their spare time to assist Living Waters Four Square Church in giving a new lease of life to the Meri Seif Haus at Port Moresby’s, notorious Kaugere suburb, as well as Haus Ruth at Ela Beach.

The bank’s Head of International Operations Merolyn Samson officially handed over the renovated facility today.

“Domestic violence continues to be a problem in society today, and BSP understands the important role that Meri Seif Haus plays in assisting victims who need proper care, counselling, and the proper support,” said Ms Samson.

Over the last three months, BSP staff scrubbed and painted paint walls, helped the contractor construct a new patio and installed a new water tank. Security fencing was also erected on both sites and secure locks.

BSP also provided new furniture and white goods throughout Haus Ruth at Ela Beach.

Meri Seif Haus Kaugere Manager Pastor Mary Morah in receiving the completed Community Project thanked BSP for the timely support.

“This assistance by BSP in improving the facility will go a long way in the centres mission to assist women and children affected by domestic violence” said Pastor Morah.

“On average, we have three women accommodated here each month whilst they undergo trauma and gender based violence counselling. Spiritual counselling is also offered as a means to help these women get back on their feet”, she added.

“Thank you BSP for providing this more peaceful atmosphere – it will go a long way in providing a high level of care to those who seek refuge here”, she emphasised.

This project is just one of 37 community projects which BSP is undertaking this year in education, health, environment and sports.

What You Need To Know About Life Insurance

A life insurance policy is a contract with an insurance company. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured’s death.

There are many varieties of life insurance. Some of the more common types are discussed below.

Term life insurance

Term life insurance is designed to provide financial protection for a specific period of time, such as 10 or 20 years

Universal life insurance

Universal life insurance is another type of permanent life insurance designed to provide lifetime coverage.

Whole life insurance

Whole life insurance is a type of permanent life insurance designed to provide lifetime coverage.

Following some research and in-depth reading and applying sound logic, we have discovered that Papua New Guineans have really only have two reasons to buy insurance. Other commentators may have their own views which we welcome.

Here are our two reasons;
1. Debt
2. Family responsibility

We respectfully suggest that unless you have either one or both of the above reasons than you don’t have a need for life insurance. As we note, majority of Papua New Guineans don’t have a fair idea what a LIFE INSURANCE is.
It is our aim that should the right time come, you already know what to do. Winds of change is blowing PNG at speed never felt in the history of this young country and information such as this will be handy in not so far future.

You may have probably heard about insurance. So many types of them indeed. Here we only concentrate on life insurance. We shall cover other types of insurance in other posts later on.

Under life insurance, we are quite concern about two policies ‘Whole of life’ and ‘Endowment’ policies. These two policies have cost individual more than they expected from the start and so we are trying to show you the downfalls so you can make an informed decision.

We like to think of these two policies as “first generation dinosaurs” simply because of the fact that they are difficulty to understand and expensive.
When you buy the policies, you spend the first couple of years paying the agent who sold you the policies. On the investment aspect, it takes up to 6 to 7 years to break even (i.e. to achieve equal value the mount of contribution. These policies combine life insurance (which is generally expensive where you need more of it) and investment (which does not perform well because of the fees and costs).

Industry sources indicate that average life of first generation dinosaurs (i.e. Whole life policy or endowment policy) is seven years. Insurance companies know this and price them accordingly. If it makes past two years, the agent keeps their commission. Not surprisingly, a staggering high percentage of all policies written are surrendered prior to maturity with fair percentage lapse due to non-payment.

We suggest you buy term insurance when you are young and have the need for it. Reduce it as your dent reduces and your kids and investments grow up together. It is really necessary to consult your financial advisor to help you decide on this. If you have to apply for a whole life policy (or endowment) then we suggest you ask for a print out of the projected value of the policy for each year before you decide.

Obviously not every Papua New Guinean will qualify for life insurance. Other types of insurance are really necessary. If you are in business and investment, you should consult your financial advisors on relevant insurance covers. More of the different types of insurance will be covered in later posts.

How cost is determined

Insurers use rate classes, or risk-related categories, to determine your premiums; these categories don’t, however, affect the length or amount of coverage.

Traditional rate classes are:

Standard: Good health, average cholesterol, relatively low-risk lifestyle
Preferred: Very good health and family medical history, low cholesterol, low-risk lifestyle
Super-Preferred: Excellent health and family medical history, very low cholesterol, low-risk lifestyle

Your rate class is determined by a number of factors, including overall health and family medical history and your lifestyle. Tobacco use, for example, would increase risk and therefore cause your premium to be higher than that of someone who doesn’t use tobacco.

How Wealthy People Think-Financial Success Series Part 1

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One of the biggest differences between the very financially successful people and those that just get by with life is in their thinking. Successful people think success and so become successful. Failures are failures simply because they think fail.

Harv T. Eker in his book Secrets of the Millionaire Mind listed 6 differences between rich and poor which I share with you here to help your grasp the point. Honestly answer the questions that follow the 6 steps listed and you will see where you really stand when it comes to mastering your mindset to acquire the wealth you desire.

1. Rich people believe “I create my life”. Poor people believe “Life happens to me”

Does your life happens by chance or you create it yourself?

So many Papua New Guineans have been led to believe in and expect free handout from the government. Are you one of them? Are you the type of person that believes that because you voted your member into parliament, he or she will bring development to you? Or are you the type that waits for some luck to strike and you somehow get BIG money to start a business or investment? Are you still waiting for the right moment to come? Rich people don’t wait; they try, fail and get up again keep doing that until their reach their goals.

2. Rich people play the money game to win. Poor play the money game not to lose.

Do you work for money for survival (day to day living) or work to grow your wealth and live an abundant life?

The poor and middle class work, earn and spend before they save. Some don’t save at all. The rich on the other hand, earn, save, invest and then spend whatever that is left. You see, the rich have this ability to tame the money and make it work for them. Poor on the other hand, let money come and go as it pleases and so remain slave to money. Result is financially stressful

3. Rich people are committed to being rich. Poor are uncommitted to being rich

Are you committed or uncommitted to growing your wealth by investing in revenue generating assets?
Saving and investing money requires a lot of self-discipline and because the rich have that ability, they are able to continue to amass greater wealth. Rich people have unwavering commitment to success. They are committed to learning about success and they keep looking for ways to add value to their lives. They buy and read good books on business, finance, investment and other motivational materials. They attend business and investment seminars. They watch motivation videos from other successful people. They spend their spare time studying success and creating wealth while the poor waste time on everything everybody else does just so they please others.

4. Rich people think big. Poor people think small

How big is your dream? If no one laughs at your dream, than your dream is not big enough. The world we live in today is been shaped by people whose dreams were so big that everyone thought they were crazy. Today, we still laugh at those who dream big don’t we? Dreaming big is the trait of highly successful people. You have to dream big and stick to it until it manifests. Many average Papua New Guineans easily give up their dream because their relatives or colleagues say they can’t. The sad thing is those that tell you that you can’t haven’t actually tried what you dream to try. So why the heck should you listen to a person like that? You would be a serious fool if you did.

5. Rich people are bigger than their problems. Poor people are smaller than their problems.

Are you bigger than your problems? Do you face criticism with open mind or shrink in size or walk away from problems? Papua New Guineans are well known for criticizing but are also well known for not taking action by doing it themselves. Problems will arise when you try to exit your comfort zone and venture into business or try a new path in life. Your close friends at workplace, your family and everybody who don’t know your dreams will criticize you and you are bound to fail. Believe me its normal to fail. The most important thing is how you rise above your problems like an eagle. You may wish to read our article on How An Eagle Use The Current of Storm to Its Advantage.

6. Rich people focus on opportunity. Poor people focus on problems

Standing on the shoulders of giants, do you see problems of opportunities?

When a storm comes, lesser birds flee for cover. The eagles on the other hand, stretch their mighty wings and fly towards the storm. The same current of the storm that the lesser birds fear and flee for cover, lifts the eagle and it soars to greater heights. Every problem has a solution. Infect problems come to give us a check and balance on how well we are traveling on our path to success. Rich people know this and embrace problems, but seek opportunity in the problem. They focus on the opportunity that comes by as a result of the problem. Poor on the other hand moan and groan and blame everyone else they can think of. At the end of the day, poor loss and the rich win.

In-depth discussion on mindset and success may be found in our book Maximize Your Personal Confidence and Motivation – For Unlimited Success.

The fastbusiness Financial Success blog series

The fastbusiness Financial Success (FFS) series is fastbusiness blog’s series of blog post written for average Papua New Guineans who are trying to identify the best way to grow their wealth and retire comfortably.
Over the centuries money has been accused of many things. It has been called the root of evil, the cause of unhappiness, the answer to everyone’s prayer, being the next most important thing to oxygen, a measure of success and the list goes on.

Truth be told, money only does one thing. It does not solve problems. It does not cause either happiness or unhappiness. Money only gives you more choices in life. The more money one has, the more choices he or she has.
This series of blog posts are about money. How to have more of it, how to manage it and how to make it work for you.

Papua New Guinea is richly blessed country, yet majority of the population are poor with no sustainable form of income or if they do (employed) lead a paycheck to paycheck life with little or no savings at all.

Because of the current economic boom, we are seeing a growing middle class who are well paid, have reasonable accommodation, have over their means expenses and have some savings and may wish to invest for future.

Bottom line is, with little savings and education on investment, one can grow wealth and retire comfortably. As it is today, very few people save money towards investment. Majority survive on paycheck until they retire poor, broke, sick and busted.

This blog series spells out what you need to know in order to turn the game towards your favor. The rules aren’t difficult. Be part of the journey and discover ways to make, manage and make money work for you.

Titles in the series
1. How Wealthy People Think
2. The Truth About life Insurance
3. The Truth About Savings Plan
4. Wealth Creation Strategies
5. What You Need to Know About Wills and Stuff
6. What You Need to Know About Investment
7. What You Need to Know About Tax and Rental Houses
8. Why Should You Invest Monthly
9. What To Look For In An Investment
10. What to Look For In An Investment Advisor

As we publish each title, the links will become LIVE so that you can click the title of your choice and read.

ExxonMobil committed to preserving culture

A unique feature of ExxonMobil (Exxon), the leader of the massive $19 billion Papua New Guinea Liquefied Natural Gas (PNGLNG) project, is the company’s commitment to preserving the cultural heritage in the project sites.

“Respect for Papua New Guinea’s rich culture underlies all Project activities, and we strive to ensure heritage is maintained and protected,” Exxon says in a statement

The company states that to ensure their goal of preserving cultural heritage, Exxon has established a document called Cultural Heritage Management Plan (CHMP) which it says is overseen by the project archeologists and in liaison with the PNG National Museum Art Gallery.

“We have undertaken detailed studies to identify culturally significant sites in project areas. These studies draw on the expertise of archeologists and involve extensive consultation with community groups to ensure the project is minimising cultural impacts and acting in accordance with relevant government regulations,” Exxon says.

A key component of CHMP according to Exxon is training.

“The LNG plant provides construction teams with cultural heritage awareness training in preparation for excavation works at the site. The onshore pipeline team also trains construction crews involved with the right way of cleaning and grading activities,” Exxon states.

Negative balance decline and export double

Papua New Guinea’s Treasury Department anticipates that PNG’s export volume will double in 2015 as the country’s current negative account balance declines.

The basis for the country’s Treasury assertion is founded on a strong export performance in recent years.

“The country’s current negative account balance is anticipated to decline this year,” the Treasury states, and therefore anticipates an increase in the volume of exports.

Treasury states that “Papua New Guinea’s strong export performance in recent years means that the negative balance of K4.8 billion at the height of the liquefied natural gas (LNG) construction is anticipated to decline to K2.8 billion in 2014 before rising to a positive K6.8 million in 2015 when LNG exports reach its full capacity.”

The current account deficit of about 14 percent of the gross domestic product in 2012 according to the Treasury is expected to narrow to 8.4 percent in 2014.

Treasury noted that gross exports during this period would leap from K8.6 billion in 2012 to an all-time record of K25. 5 billion in 2015.