.........chairs Kina Security
Source:
The National, Wednesday 28th December 2011
SIR Rabbie Namaliu has been appointed as the new chairman of the leading PNG-based financial services company – the Kina Securities Group.
Sir Rabbie succeeded Hilary Wong who had stepped down after eight years in the position.
During Wong’s time as chairman, Kina has grown to become one of the largest non-bank financial services companies in PNG.
Sir Rabbie is a distinguished statesman and committed Papua New Guinean with ministerial experience in foreign affairs and trade, treasury, primary industry, petroleum and energy and other areas of government responsibility.
He had been a non-executive director of Kina Securities Ltd, and foundation chairman of the publicly-listed investment company Kina Asset Management Ltd. Sir Rabbie has also been appointed as the CEO of the soon-to-be-established Sovereign Wealth Fund.
He was appointed chairman of Kramer Ausenco, a new joint venture of PNG engineering company Kramer (PNG) Ltd and Ausenco of Australia.
He is non-executive director of Marengo Mining Ltd, which is developing the Yandera gold and copper mine and also a member of the board of Bougainville Copper Limited and is on the advisory board of InterOil Corp.
Kina Securities was founded in 1985 and provided a diversity of financial and investment services including investment fund management, business and personal lending, superannuation fund administration, stock-broking and trustee services.
Sir Rabbie said a recent strategic alliance between Kina Funds Management and global investment bank Credit Suisse would expand existing and new business opportunities.
This initiative ensured that Kina Funds Management now has access to international advice and guidance as well as direct access into new investment in developed and developing markets via Credit Suisse’s global footprint.
This allowed Kina to address complex investment requirements arising from growth in the finance, mining and exploration sectors in PNG and also other areas of the South Pacific.
“As PNG and the South Pacific continues to grow economically and has become increasingly attractive to international investors, this important link with one of the world’s largest banking groups is a further important milestone for PNG and its ongoing opportunities and growth in the 21st century,” Sir Rabbie said.
He said that Kina Securities had recently made a significant investment in upgrading of its investment management system and development of a comprehensive risk management structure.
In addition, Kina had also implemented the case360 workflow system into its fund administration division.
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