Business Briefs
Business Briefs
July 2005
| Region Tahitian
Noni International had record worldwide sales in April. The Utah-based company
recently opened a new manufacturing and processing plant in Tahiti. "We have continued
our expansion into new international markets such as Chile and Vietnam, and added
sales offices into existing markets such as Atlanta, Dallas, and Fukuoka and Nagoya,
Japan," company President Kelly Olsen says. Tahitian Noni recently opened a Noni
café in Fukuoka and reopened its café in Tokyo, Japan. International
Kava Executive Council (IKEC) Co-chairman Eddie Wilson has announced the lifting
by German authorities of the ban on the importation of kava products into that
country. The ban was imposed in 2001 after fears were raised of a likely connection
between the use of kava and liver disease. Samoa A Samoa
National Provident Fund health care scheme unveiled at the beginning of May has
come under fire from members concerned at the cost of the scheme. The scheme requires
a compulsory three percent contribution by all wage and salary earners with a
matching contribution from employers, and is apparently based on similar health
schemes in Singapore. The major complaints were the additional draw on people's
take-home pay, questions over the level of benefits, and the financial viability
of the scheme. CNMI Aqua Resort Club celebrated the
completion of its $3.5 million renovation May 14, an event that attracted hundreds
of government and business officials. The 91-room resort, located at Tanapag,
was purchased by Ken Corp. Ltd., of Japan last July. Ken Corp. is involved in
real estate. The 16 year-old property employs 140 workers. Other hotels undergoing
multi-million dollar renovations are Dai-Ichi Hotel, Grand Hotel and World Resort
Hotel. Guam Sorensen Pacific Broadcasting announced
that an affiliate company, Sorensen Television Systems, has purchased the television
broadcasting assets of Island Broadcasting Inc. or ABC/14. Sorensen Pacific owns
and operates three radio stations in Guam and two in Saipan. American Samoa StarKist Samoa's future is not rosy as the cannery faces its biggest
challenge in fuel and electricity costs, according to Barry Mills, vice president
of seafood operations for Del Monte Foods, owner of StarKist Seafood. He says
the cost of diesel and electricity has doubled in the last two years. According
to Mills it is now over 20 cents per kilowatt hour for electricity and the price
for diesel fuel is approaching $2 a gallon. Mills said StarKist consumes 7,000-8,000
gallons of diesel fuel a day and about 25 million kilowatt hours a year. "These
are big numbers." Unlike its competitor, Samoa Packing, Mills says StarKist has
no plans to produce its own electricity, and will depend on the government-run
American Samoa Power Authority (ASPA). Samoa Packing general manager Herman Gebauer
says negotiations with ASPA continue for a price that is acceptable to the cannery,
but Samoa Packing still has the option to produce its own electricity. Together
the canneries employ about 5,000 people. Marshall Islands Of
the 17 Compact-funded construction and maintenance contracts awarded by the Ministry
of Public Works through May, Majuro-based Pacific International Inc. has won nine.
Since late 2004, the government has been putting numerous new school construction
and health and school maintenance contracts out for bid. About $15 million per
year is allocated under the Compact for construction, all of it being devoted
to education and health in the first few years of the agreement with Washington. Cook Islands Te Aponga Uira (TAU), the only electricity provider on Rarotonga,
is likely to consider two fuel suppliers when tenders for the new financial year
are called next month. General Manager Apii Timoti cites security of supply as
the main reason. In previous years the power provider was forced to ration its
customers due to the low stockpile of fuel with its supplier. TAU wants an extra
30-day stock on hand at all times of between 600,000 to 1.2 million liters. While
neither of the two oil suppliers have the capacity to solely maintain the stock,
they can provide this level between them. Kiribati A
team from the multi-million dollar Fiji enterprise Punjas, which won a bid to
open a branch in Kiribati, arrived at the beginning of June with its own container
ship carrying its first load of cargo for Kiribati. Local agent Kabunare Beriki
says an agreement has been formalized with Kiribati Supply Limited to rent its
Betio cargo shed while awaiting a final decision for the usage of the former defunct
Abam'akoro Trading premises. Government invited bids locally and abroad for a
replacement of Abam'akoro Trading to maintain availability of rice, flour, sugar
and other staples. Papua New Guinea New Papua New Guinea
microfinance bank PNG Microfinance Limited has signed up close to 10,000 customers
in just four months of operation. The financial institution has also granted loans
to over 500 customers mainly from Port Moresby's informal business sector and
its clients have amassed deposits of over K600,000 (US$184,200). PNG Microfinance
Limited is owned by Singapore-registered Sustainable Development Company Limited,
which was divested with BHP Billiton's 52 percent shareholding in the PNG copper
mine OK Tedi Mining Limited. PNG's Bank South Pacific and International Finance
Corporation have expressed interest in investing in the microfinance institution. Solomon Islands The Solomon Islands gold mine at Gold Ridge, east of the capital
Honiara, expects to be producing gold again by late 2006 after the government
approved the mine's purchase by a new company, Australian Solomons Gold. Reconstruction
at the badly damaged Gold Ridge mine, forced to close down due to civil fighting
five years ago, will commence immediately. "This will unlock the natural wealth
of the Solomon Islands for the benefit of all parties," Mines and Energy Minister
Basil Manelegua says. Gold Ridge's re-opening is the second multi-million dollar
project to be announced this year, after the recent reestablishment of palm oil
plantations on the Guadalcanal Plains. |
