Credit Corporation(PNG) Limited’sBoard has set a new strategic direction for the organization for the next five years, focusing on enhanced customer experience in its finance business and a broader range of lending products that deliver on customer needs and business efficiency. The renewed focus will deliver benefits for customers, as well as shareholders and employees, further cementing Credit Corporation’s long-standing commitment to helping customers achieve their financial objectives. Recently appointed Chairman Syd Yates said Credit Corporation was prepared to take a bolder stance on enhancing the customer experience from beginning to end, by leveraging the disruption taking place across the financial services industry.

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The Board of Credit Corporation (PNG) Limited is pleased to announce the appointment of Mr. Syd Yates as its New Board Chairman. Mr. Yates’s appointment was made during the Board’s meeting held this week in Port Moresby and is effective immediately.

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This Explanatory Note explains the changes to the updated Investor Presentation release to the market on the 10thof October 2018. The changes made to the Presentation are explained in detail below. The Board advises that the changes do not affect the 2017 Full Year and the 2018 Half Year Results on the profitability of the company nor the respective Appendix 4B market releases. The changes made to the Presentation was due to an administrative error with the reporting of the financial figures for the Property Companies. A disclaimer page was not originally inserted.

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JOHNSON KALO, Acting Chairman of Credit Corporation (PNG) Limited today announced to the Market (Appendix 4B) of the half-year ending 2018.
Despite continuing tough market conditions in key markets, Credit Corporation (PNG)Limited achieved solid results with continued growth across its three core business units –Finance, Property investment –for the six months to 30 June 2018.

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JOHNSON KALO, Acting Chairman of Credit Corporation (PNG) Limited today announced to the Market (Appendix 4B) of half year ending 2018.
First-half FY18 results 1SOLID RESULTS WITH CONTINUED GROWTH ACROSS OUR THREE CORE BUSINESS UNITS – FINANCE, PROPERTY, AND INVESTMENT.

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JOHNSON KALO, Acting Chairman of Credit Corporation (PNG) Limited today announced to the Market (Appendix 4B) of half year ending 2018.

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