PNGX Equities • Fixed Income • Investor Education
Turnover edges up to K5.33m
Four counters; KSL and BSP lead
JMP Weekly Report | Week ending 30 October 2026
| TRADING VALUE K5.33m +26% on prior week |
TOTAL VOLUME 510,022 +100% on prior week |
STOCKS TRADED 4 of 11 BSP, KSL, KAM, CCP |
MARKET YIELD (LTM) 5.29% +1 basis point |
Weekly Trade Commentary
Turnover edged up to K5.33m on 510,022 shares, though still only four counters traded. KSL was the busiest (363,523 shares, easing a further 5t to K3.90 for K1.42m), while BSP again led on value at K3.89m (139,180 shares, steady at K27.95). KAM traded 2,504 shares and CCP 4,815, both steady. STO, NEM, NGP, CPL, PLC, SST and ADY did not trade.
| Stock | Volume | Close (K) | Value (K) | Change | Change % |
|---|---|---|---|---|---|
| BSP | 139,180 | 27.95 | 3,889,721.41 | — | — |
| KSL | 363,523 | 3.90 | 1,416,616.42 | −0.05 | −1.27% |
| STO | — | 22.90 | — | — | — |
| NEM | — | 490.00 | — | — | — |
| KAM | 2,504 | 2.25 | 5,634.00 | — | — |
| NGP | — | 1.20 | — | — | — |
| CCP | 4,815 | 4.66 | 22,437.90 | — | — |
| CPL | — | 1.10 | — | — | — |
| PLC | — | 1.47 | — | — | — |
| SST | — | 50.00 | — | — | — |
| ADY | — | — | — | — | — |
| TOTAL | 510,022 | 5,334,409.73 | −0.02% |
Weekly Volume by Counter
| BSP |
|
139,180 |
| KSL |
|
363,523 |
| KAM |
|
2,504 |
| CCP |
|
4,815 |
Source: PNGX matched on-market trades, 26–30 October 2026. JMP Securities analysis. Seven other listed counters did not trade.
Dividend Yield
The headline and dividend table show a market-wide LTM yield of 5.29% (+1 basis point). KSL firmed to 8.59% as its share price eased to K3.90; the rest of the board was unchanged. NGP (15.83%) led, followed by KAM (8.89%), KSL (8.59%) and BSP (6.87%). PLC remains pre-dividend; ADY has no dividend history yet.
| Stock | Issued Shares | Mkt Cap (K) | Int 24 | Fin 24 | Int 25 | Fin 25 | Yield % |
|---|---|---|---|---|---|---|---|
| BSP | 467,317,665 | 13,061,528,737 | 1.210 | 0.500 | 1.380 | 0.540 | 6.87% |
| KSL | 294,332,296 | 1,147,895,954 | 0.155 | 0.126 | 0.193 | 0.142 | 8.59% |
| STO | 3,261,616,703 | 74,691,022,499 | 0.414 | 0.559 | 0.443 | 0.514 | 4.18% |
| NEM* | 1,097,000,000 | 537,530,000,000 | — | 2.110 | 2.110 | USD $0.520 | 0.86% |
| KAM | 53,259,588 | 119,834,073 | — | 0.250 | — | 0.200 | 8.89% |
| NGP | 45,890,700 | 55,068,840 | 0.120 | 0.040 | 0.190 | — | 15.83% |
| CCP | 307,931,332 | 1,434,960,007 | 0.121 | 0.121 | 0.130 | 0.125 | 5.47% |
| CPL | 206,277,911 | 226,905,702 | — | 0.050* | 0.040 | 0.020 | 5.45% |
| PLC | 860,718,662 | 1,265,256,433 | — | — | — | — | — |
| SST | 31,008,237 | 1,550,411,850 | 0.300 | 0.400 | 0.650 | 0.350 | 2.00% |
| ADY | 316,766,640 | — | — | — | — | — | — |
| TOTAL / WEIGHTED-AVG | 5.29% |
Dividend Yield (LTM)
| BSP |
|
6.87% |
| KSL |
|
8.59% |
| STO |
|
4.18% |
| NEM* |
|
0.86% |
| KAM |
|
8.89% |
| NGP |
|
15.83% |
| CCP |
|
5.47% |
| CPL |
|
5.45% |
| SST |
|
2.00% |
LTM = last twelve months. Yields use most recently declared interim and final dividends. NEM excluded from market-wide yield; PLC and ADY have no reported yield.
The Dividend Yield Formula
Dividend Yield = Annual Dividends per Share ÷ Current Share Price × 100
Key Market Announcements
A busy board, led by PLC. PLC lodged its 2026 Annual Report and Appendix 4G corporate-governance statement, advanced its cement project to the final EPC stage, and submitted an EOI for the Kido regional strategic fuel reserve. BSP issued its Q3 2026 trading update; KAM filed substantial-shareholder notices, director-interest changes and an Appendix 2B; and NEM lodged a director’s Form 4.
| Stock | Announcement | Source |
|---|---|---|
| PLC | 2026 Annual Report; Appendix 4G governance; cement project (final EPC); Kido fuel-reserve EOI | PNGX announcements >> |
| BSP | Third Quarter 2026 trading update | View announcement >> |
| KAM | Substantial-shareholder notices, director-interest changes and Appendix 2B | View Appendix 2B >> |
| NEM | Form 4 as filed (Deborah Leyva) | PNGX announcements >> |
Source: PNGX market announcements, 26–30 October 2026.
BPNG Treasury Bill Auction
Auction: 28-OCT-26 / GOI / Government Treasury Bill | Settlement: 30-OCT-26 | Amount on offer: K250.0m
| Terms | Issue / 63 | Issue / 91 | Issue / 182 | Issue / 273 | Issue / 364 | Total |
|---|---|---|---|---|---|---|
| Weighted Avg Yield | — | — | 4.66% | 5.04% | 5.09% | |
| Amount on Offer (K’m) | — | — | 20.00 | 50.00 | 180.00 | 250.00 |
| Bids Received (K’m) | — | — | 18.40 | 2.00 | 321.90 | 342.30 |
| Successful Bids (K’m) | — | — | 8.40 | 2.00 | 311.90 | 322.30 |
| Over / (Under) Subscribed (K’m) | — | — | −1.60 | −48.00 | +141.90 | +92.30 |
Source: Bank of Papua New Guinea — Domestic Markets Department, T-Bill auction 28 October 2026 (settlement 30 October 2026).
BPNG Government Bond Auction
NEW ISSUANCE — WEEK ENDING 30 OCTOBER 2026
Auction: 27-OCT-26 / GOB / Government Bond | Settlement: 30-OCT-26 | Amount on offer: K300.0m
| Series | Offer | Bids | Successful | Yield | Weighted Avg | Coupon | Net Sub. |
|---|---|---|---|---|---|---|---|
| 2026/5057 — 3 yr | 60.00 | 97.58 | 77.58 | 6.18–6.23% | 6.20% | 6.20% | +37.58 |
| 2026/5058 — 5 yr | 60.00 | 102.89 | 78.89 | 6.55–6.63% | 6.59% | 6.60% | +42.89 |
| 2026/5059 — 7 yr | 60.00 | 64.28 | 44.28 | 6.69–6.73% | 6.71% | 6.70% | +4.28 |
| 2026/5060 — 10 yr | 60.00 | 66.60 | 66.60 | 6.70–6.83% | 6.81% | 6.80% | +6.60 |
| 2026/5061 — 15 yr | 60.00 | 60.00 | 35.00 | 7.20–7.23% | 7.22% | 7.20% | 0.00 |
| TOTAL | 300.00 | 391.35 | 302.35 | +91.35 |
Source: Bank of Papua New Guinea — Domestic Markets Department, Government Bond auction 27 October 2026 (settlement 30 October 2026). Figures in K million, unless yield is shown.
Investor Education: Penny Stocks
What is a penny stock?
A penny stock is a share in a small company that trades at a very low price. There is no single global definition: the US SEC uses under US$5, while ASX usage is often under A$1 (some say under 50c). Typical features include small market capitalisation, low and irregular trading volumes, limited publicly available information and analyst coverage, and an early-stage company such as an explorer, start-up or turnaround. Several PNGX stocks sit at this end of the market.
The low price matters because prices move in minimum steps (ticks). On a 0.5c share, a single tick can be a 20% price move, and the bid-ask spread can wipe out a gain. A low share price can make it possible to buy many shares with a small outlay and gain early exposure to a growing company, but thin liquidity, volatility and manipulation can make these stocks risky.
Penny stocks can be vulnerable to “pump-and-dump” promotion. Investors should consider whether they can sell their position, review company disclosures and finances, and avoid unsolicited tips or social-media hype. Speak to a JMP adviser before trading.
Before You Trade One
| 01 | Check liquidity Look at daily volumes and the bid-ask spread — can you actually exit your position? |
| 02 | Read the disclosures Review announcements, financials and cash runway, not just the headlines. |
| 03 | Size the position Only invest an amount you could afford to lose entirely. |
| 04 | Ignore the hype Beware of unsolicited tips, social-media promotion and sudden price spikes. |
What We’ve Been Reading
FEATURED READ
Asia’s economic resilience — can it be sustained?
IMF Blog • Scott & Srinivasan
The Asia-Pacific region has proved strikingly resilient through the energy shock and last year’s tariffs and supply-chain disruption. The IMF has upgraded regional growth to 4.8% in 2026 (from 4.4%) and 4.4% in 2027, with the biggest upgrades for India, Korea and parts of South-East Asia riding the technology supply chain. Asia would still supply approximately two-thirds of global growth. However, low-income and Pacific-island economy forecasts have been reduced amid higher fuel costs, cost-of-living pressures and uneven growth.
Three forces explain the resilience: adaptation to the oil shock through reserves, renewables and alternative supply; an AI-related boom in semiconductors and data-centre investment; and resilient intra-Asia trade. Challenges remain: sustained higher oil prices, fiscal support stretching budgets, rising sovereign yields and the need to create nearly 150 million jobs over the coming decade as manufacturing becomes more capital-intensive.
JMP read: PNG sits on the more exposed side of the IMF’s split. As a low-income, fuel-importing Pacific economy, it faces high and volatile energy costs, cost-of-living pressures and the rising global cost of debt, rather than the full benefit of the North Asian technology tailwind. The priorities are targeted fiscal support, careful debt management, and investment in skills and services.
Figure — Asia Growth Upgraded
| 2025 |
|
5.0% |
| 2026f |
|
4.8% |
| 2027f |
|
4.4% |
Source: IMF Regional Economic Outlook (Scott & Srinivasan). Asia-Pacific GDP growth, 2025–2027 forecast. Forecasts: 2026f and 2027f.
Also on Our Desk
- IMF upgraded Asia-Pacific growth to 4.8% for 2026 and 4.4% for 2027.
- Resilience rests on oil-shock adaptation, AI and semiconductor demand, and intra-Asia trade.
- Low-income and Pacific-island economies were revised down as fuel costs and debt pressures bite.
What This Report Covered This Week
- Weekly trade activity — 4 stocks traded, K5.33m value (+26% on prior week); KSL and BSP lead.
- Dividend yields — market-wide LTM 5.29% (+1bps; KSL at 8.59%).
- PLC annual report and governance filings, BSP Q3 trading update, KAM and NEM announcements.
- BPNG T-Bill auction — over-subscribed by K92.30m.
- BPNG bond auction — new K300m issuance, net subscription K91.35m.
- Investor Education — Penny Stocks.
- IMF research — Asia’s economic resilience.
For Further Enquiries
Speak to your equities trader for any orders, research questions or market colour.
Benny Takin
Equities Trader — Primary contact, JMP Weekly Report
benny.takin@jmpmarkets.com
+675 7001 9121 / 320 0240
JMP Securities Limited
Level 3, ADF Haus, Musgrave Street
PO Box 2064, Port Moresby NCD, Papua New Guinea
Disclaimer
This report has been prepared by JMP Securities Limited (Capital Market Licence holder, Securities Commission of PNG). It is general information only and does not take into account the objectives, financial situation or needs of any particular person. It is not an offer or solicitation to buy or sell any security. Information is sourced from PNGX, Bank of Papua New Guinea and external publications cited herein, with JMP analysis. While reasonable care has been taken, no warranty is given as to accuracy or completeness; to the maximum extent permitted by law JMP accepts no liability for loss arising from reliance on this material. Investors should obtain independent professional advice before making any investment decision.