Communications Fiji Ltd (CFL), a major radio conglomerate, has confirmed the relocation of its subsidiary PNG FM to a new office in Port Moresby, Papua New Guinea. CFL chairman William Parkinson announced that construction on the new office complex began in May 2023 and was completed on schedule and within the allocated budget.
Parkinson expressed excitement about the timing of the opening, which coincides with PNG FM’s 30th Anniversary on November 14. He noted the importance of timing in the Papua New Guinea market, indicating that the company has leveraged current market conditions effectively.
CFL acquired the land for K5 million (approximately $F2.93 million) and the total construction cost amounted to K10 million ($F5.85 million). Parkinson remarked that the land was purchased during the COVID-19 pandemic, and the construction was finalized in a period when the PNG market was relatively slow. He highlighted the company’s readiness for anticipated economic growth linked to resource projects such as Papua LNG and Wafi Gold Mine, expected to commence in 2025.
The new studio complex is equipped with state-of-the-art digital broadcast technology, positioning PNG FM to capitalize on an interactive multimedia platform to enhance its media offerings both on-air and online. PNG FM general manager Rosemarie Botong expressed enthusiasm for the fresh opportunities ahead, looking forward to developing their radio stations Nau FM, YUMI FM, and Legend FM, as well as their news portal PNG Haus Bung.
The official inauguration of the complex will take place on November 14, as part of PNG FM’s anniversary celebrations. CFL is listed on the South Pacific Stock Exchange, where shares were trading at $6.58 at the time of reporting.