19Post-Courier, Tuesday, July 26, 2016

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Market Snapshot

BY MELISHA YAFOI

FIMALI Limited is a Madang based business specialised in engineered pumps, valves and instrumentation for manufacturing companies in the country.

This small PNG owned and reg-istered business was established in 2000 by Harry Mathers and his wife Maureen after discovering an acute need for manufacturing capa-bilities for industrial process con-trol equipment by many companies right around.

It then started as a supplier of pumps, valves and industrial in-struments to major mining compa-nies in PNG, based on Mr Mathers having acquired vast experience and connections in the extractive fluid industry on top of his main-tenance of the philosophy of utilis-ing financial support from extrac-tive industries to employ and train PNG engineers and technicians.

At this point PNG has no manu-facturing capability for the type of process equipment that is required by many companies and operators within PNG.

As a result operators are forced to import from overseas and gener-ally this is achieved by purchasing through an agent which the manu-facturer pays a commission of sale to agents in whatever country they are based.

Fimali was specifically created to retain these types of commis-sions as in country profits to be

taxed and used for local economy stimulation and local employment and training.

The local company pays the same for the goods whether they pay an overseas agent then import, or pay a PNG agent who has already im-ported for them.

So by having a PNG based agent, the company pays the same and has the advantage of a geographically close agent to provide technical and commercial service and the PNG economy is improved.

The company offers supply and service of top end highly special-ised process equipment engineered products and service specifically for PNG agents for manufacturers who are all well regarded and ac-cepted worldwide for their prod-ucts.

The manufacturers that they represent have a long history of providing equipment and support for a range of operating industries not just the extractive, but also mu-nicipal and village, agriculture, commercial building and food and beverage.

Sales and aftermarket equipment rebuild manager Garry Hull stated that they focus their efforts in three categories which include rotating equipment, valving, and instru-mentation.

Mr Hull said they supply and stock equipment such as; n Pumps ranging from household

right through to the top end exotic API pumps and massive slurry

pumps for the mines;n Valving of all sorts from basic

through to slurry ultra-exotic se-vere service high temp/pressure for isolation and control;n Pneumatics, hydraulics;n Hydro electrical, Geothermal

power systems, electrical power monitoring;n Solar systems to power pumps,

water/wastewater treatment facili-ties;n Complete equipment installa-

tions such as pump stations, water and waste water treatment facili-ties;n Instrumentation to support all

the above.“We provide world class aftermar-

ket service in line with the manu-

facturer’s requirements and inter-national standards and we have a fully tooled up workshop and quali-fied Trade Team to support this.

“We offer a team of qualified en-gineers and tradespersons who are interested in not only the job, but being part of developing PNG.”

“Fimali as a good corporate citizen also assists when possible with the community by donating to NGO’s, the hospitals, schools and the likes,” he said.

Mr Hull added that they will be soon moving to Port Moresby, Lae, Goroka and the Solomon Islands.

For more information view their website on www.fimali.com.pg or contact them on sales@fimali.com.pg.

COMMOdItIES IndICESnew York (July 25)Dow Jones 18,570.85 53.62Transport 7,965.98 107.39Utilities 720.45 9.93Stocks 18,146.74 250.86

London (June 25)FT-SE 100 Share Index 6,730.48 (previous 6,637.55)

Australia (July 25)All Ordinaries 5,574.30 -14.40 S&P/ASX200 5,498.20 -14.20 Gold ( July 25) US dlrs per ounce)London close 1143/1132.32 New York close 1132.8-1144.4 SilverLondon ( July 25) – US cents per troy ounce)14.86 (14.97)

Copper - London ( July 25) Higher grade 5465.00 (previously 5530.00)

Oil New York ( July 25)- WTI Cushing)$$45.41 (previously $46.60)

CoffeeNew York ( July 25) 127.35London ( July 25) 1632

CocoaNew York ( July 25) 3366London ( July 25) 2107

EXCHAnGE RAtES(July 25)BPNG selling notes against major currencies:US $ 0.3085Aust $ 0.4085GB Pound 0.2311Euro 0.2757NZ $ 0.4381Japan Yen 32.33Sing $ 0.4031

POMSoX StOCKS(July 25)BSP 8.27 0.00 8.27Credit Corp 1.67 1.70 1.67CGA 0.00 0.00 0.15Coppermolly 0.00 0.00 0.10City Pharmacy 0.00 1.18 1.15H’lands Pacific 0.00 0.20 0.15InterOil Corp 0.00 0.00 90.00Kina Asset Man 0.00 1.00 0.97Kina Petroleum 0.00 0.00 0.40Kina Securities 2.50 2.70 2.41Newcrest Mining 45.00 0.00 45.00NGI Produce 0.00 0.00 0.78Niuminco 0.00 0.00 0.02Oil Search Ltd 17.12 18.00 17.15Steamships Ltd 0.00 0.00 5.00 Debt (Securities)BSPHA 25000 0.00 25000

A$ flat ahead of key inflation dataSYDNEY: The Australian dollar is steady against the US dollar as investors bide their time ahead of the long awaited release of local second-quarter inflation data on Wednesday.

At 1700 AEST on Monday, the local unit was trading at 74.81 US cents, steady with Friday’s close.

On Saturday, the Aussie fell to 74.43 US cents as the greenback strengthened slightly against a number of currencies as markets became a bit more confident about the US Federal Reserve hav-ing to raise rates over the next few months, West-pac senior currency strategist Sean Callow said.

“So the probability of another Fed rate hike are just edging up gradually, partly I think because of another record high on the US stock market,” he said.

A growing number of investors expect the RBA to cut rates next week, but are “biding their time” until further clarity emerges from the release of second-quarter Consumer Price Index data on Wednesday, Mr Callow said.

CURRENCY SNAPSHOT AT 1700 AEST ON FRIDAY

One Australian dollar buys:

* 74.81 US cents, from 74.81 cents on Friday

* 79.43 Japanese yen, from 79.29 yen

* 68.21 euro cents, from 67.87 euro cents

* 107.00 New Zealand cents, from 106.90 NZ cents

* 56.99 British pence, from 56.50 pence

GOLD:

* The spot price of gold in Sydney at 1700 AEST was $US1,317.04 per fine ounce, down $US9.11 on Friday’s price of $US1,326.15.

GOVERNMENT BOND YIELDS AT 1630 AEST ON MONDAY:

* CGS 5.25pct March 2019, 1.4894 pct, from 1.4764 pct on Friday

* CGS 4.25pct April 2026, 1.913 pct, from 1.9045 pct

ABOVE:Fimali Ltd Salesman Stanis Bou explaining the process of the Solar Water Pump to a participant of the Australia and PnG Mining Indus-trial Expo. Below: Stanis Bou explaining the type of pumps and valves that they have on display while Garry Hull looks on.

Local firm supplies engineered products