Business Briefs

© Leighton Holdings Ltd, a major istralian construction group (turn er $75 million), has registered a :w Hebrides subsidiary to finance operations in Asia. Leighton (New brides) Ltd has been set up with issued capital of $2. The company inaged work on an oil rig near the / River in Papua in 1970 and bid successfully for construction of the va-Nadi Road. • Australia Angol Amercian Ltd 1 entered into an agreement with msoil NL and Exoil over pro ving areas on Manus Island, ?ua New Guinea. Anglo can earn to 50 per cent in the area by >enditure on exploration. Each $1 lion spent by Anglo will earn 10 cent interest. © Three Papuan rubber growing npanies reported dismal figures in tober, reflecting lower prices for ura l rubber and increased costs, riboi Rubber reported a loss of r ,126 for the year ended June 30 npared with a $13,630 loss the

previous year. Rubberlands reported a net loss of $5,490 for the six months to June 30, and Kerema Rubber turned a $6,319 profit into a $12,269 loss for its interim period. • Papua New Guinea’s tourist authority director Mr Bryan Hill pre dicted in October that Japanese visitors to PNG would outnumber those visiting Australia as a holiday destination by 1975. • Highlands trader and planter Collins and Leahy Holdings Ltd, which floated on Australian stock ex changes last year, has omitted a final six per cent dividend after

a drop in annual profit from $325,000 for the year ended June 30, 1971, to $75,081 for the year ended June 30 this year. Directors attribute the profit fall to “seasonal factors and the depressed Papua New Guineas economy”. • The Papua New Guinea Govern ment “might be offered” an interest in Pioneer Concrete’s tea plantation in the PNG Highlands, “at some time in the future”, Mr T. V. Antico, chairman of Pioneer, said in October.

Mr Antico said the plantation was “flourishing and profitable”. He added that he was “not frightened” by the prospect of PNG’s independence.