Building Wealth with Borrowed Money: Robert Kiyosaki's Financial Strategy

This article discusses how continuous financial learning can help people make smart financial decisions. It uses Robert Kiyosaki's guest appearance in the podcast (video embedded) to explain the importance of understanding global economics, how politics affects the economy, and how to adapt to changes in the BRICS alliance. Kiyosaki says that people should change the way they think about money, and compare it to 'toilet paper', but gold to god's money in the podcast. 

Read the summary and watch the video for inspiration.

Who is Robert Kiyosaki?

Robert Kiyosaki is a Japanese-American entrepreneur and businessman. He is the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos. He is also the creator of the Cashflow board and software games to educate adults and children about business and financial concepts.

Kiyosaki is the author of more than 26 books, including the Rich Dad Poor Dad series, which has been translated into 51 languages and sold over 41 million copies worldwide. He is a controversial figure, with some critics questioning his credentials and business practices. However, he remains a popular and influential figure in the world of personal finance.

Introduction

Robert Kiyosaki is a well-known financial expert who has written a popular book called "Rich Dad Poor Dad." He recently gave a podcast where he talked about the economy, politics, and the importance of financial education. This article will summarise the main points of his podcast and help you make better financial decisions.

Key idea: 

Robert Kiyosaki's financial insights, as shared in the podcast, centre on the concept of utilising borrowed funds to acquire assets and generate income. The underlying theme emphasises the significance of financial education in making informed decisions and accumulating wealth through strategic borrowing.

The central message is that borrowing, when employed judiciously, can serve as a potent tool for building wealth and achieving financial success. Continuous financial education, which involves self-education through reading and associating with like-minded entrepreneurs, remains the cornerstone for unlocking the potential of leveraging borrowed capital for asset accumulation.

MUST WATCH

Robert Kiyosaki's Financial Strategy Books

Robert Kiyosaki has written many books about money and investing. Here are 5 of his most popular ones:

• Rich Dad Poor Dad: This book is about how to think about money like the rich do.
• Cashflow Quadrant: This book explains the four different ways that people make money.
• Rich Dad's Guide to Becoming Rich Without a Job: This book shows you how to create wealth outside of a traditional job.
• Why We Want You to Be Rich: This book is a collaboration between Robert Kiyosaki and Donald Trump.
• Rich Dad's Rich Kid, Smart Kid: This book teaches parents how to teach their children about money.

To check out his books on Amazon, click here

1. The Power of Financial Education

Robert Kiyosaki's extensive military experience lends credence to his assertion that financial education is a powerful tool for empowerment. The phrase "that was very, very enlightening" aptly captures the transformative potential of knowledge in navigating financial challenges.

The podcast highlights the importance of continuous financial education. Kiyosaki's remarkable journey from military school to financial education advocate serves as a powerful reminder for individuals to invest in their financial literacy. 

2. The Global Chessboard: Navigating Economic Shifts

Robert Kiyosaki believes that the world is undergoing a major economic transformation and that individuals need to understand this in order to make wise financial decisions. He urges people to pay attention to the geopolitical shifts that are shaping the economy. 

Kiyosaki believes that understanding the battle for economic supremacy is essential for anyone who wants to protect and grow their wealth.

3. Economic Troubles, Military Actions, and the Printing Press

In the podcast, Robert Kiyosaki discusses the connection between economic problems, warfare, and money printing. He says that when the economy is bad, the yuan and the dollar will be in trouble, and this will lead to war. 

He also warns that governments may create conflict to distract people from economic problems. This shows that we need to be careful about our money when the economy is bad.

4. Lessons from the BRICS Alliance

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, has emerged as a significant force in the global economy. India, in particular, has attracted attention for its rapid economic growth and potential to become a major player on the world stage.

Kiyosaki's emphasis on India's strategic position highlights the country's importance in the BRICS alliance and its growing influence in the global economy. He encourages individuals to recognise India's potential as an investment destination and consider incorporating emerging markets into their portfolios.

5. Embracing Capitalism

Robert Kiyosaki repeatedly emphasises the importance of embracing capitalism in the podcast. He encourages individuals to break free from conventional thinking that may impede financial growth. This call for a paradigm shift is not just a theoretical exercise; it is a practical strategy for achieving wealth.

Kiyosaki's message goes beyond simply endorsing an economic system; it advocates for a capitalist mindset. This mindset encourages taking risks, thinking strategically, and fostering an entrepreneurial spirit.

Embracing capitalism is not just about supporting an economic system; it is about adopting a mindset that promotes financial growth. Kiyosaki's message challenges individuals to break free from traditional thinking that may hinder their financial success. The podcast encourages listeners to reassess their financial philosophies and explore avenues that align with the principles of capitalism.

Conclusion

Robert Kiyosaki advocates for using borrowed money to acquire assets and generate income, emphasising the importance of financial education in making sound borrowing decisions. He believes that continuous financial education, through self-education and networking with like-minded entrepreneurs, is crucial for unlocking the potential of leveraging borrowed capital to build wealth.

While Kiyosaki's financial strategy is not a universal approach, it offers valuable insights for those considering using debt to invest. Carefully evaluating one's financial situation and goals is essential before employing borrowed money.

IMF Push Reforms in PNG with $918 million Short and Long Term Loans

The International Monetary Fund (IMF) has approved a 38-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) for Papua New Guinea (PNG) in the amount of SDR684.3 million, equivalent to $918 million, to address the economic impacts of multiple shocks, including low commodity prices, drought, earthquakes, and the COVID-19 pandemic.

See the definitions of ECF and EFF at the end of this article.

Reforms

The program aims to protect vulnerable groups and promote inclusive growth through debt sustainability, foreign exchange (FX) shortage alleviation, and enhanced governance and anti-corruption efforts. 

The IMF believes that the program will support and enhance PNG's credibility and improve its access to international financial markets.

What is not clear is what 'exactly' is/are changing and how the changes will affect the institutions and the people they serve.

Key Rates

The IMF loan will be subject to a 2.4% interest rate, lower than the current weighted average interest rate for external loans (2.8%) and domestic loans (7.2%). 

Repayment will be over a ten-year period, with a 5.5-year grace period.

It may seem like a good deal, but a loan is a loan. And, an IMF loan that comes with institutional reformations and conditions has a lot to be desired. 

If it sounds too good to be true, it probably is.

Pros and Cons of the IMF loans

Pros:

• The loan will provide much-needed financial support to the PNG government and enhance its credibility.
• The loan will help repair public finances and alleviate pressure on government spending.
• Priority areas for capital expenditure in the 2023 budget include transport, utilities, education and health.
• The IMF's support will improve PNG's access to international financial markets.

Cons:

• Phased disbursement of the loan will be conditional on progress against benchmarks that are yet to be made public. (This is IMF's secret weapon, it can do what it thinks is best, and as it pleases - not good for PNG.)
• The IMF will seek exchange-rate liberalisation, financial-sector deepening, and state-owned enterprise (SOE) reform under the new program, which may not align with recent steps taken by PNG to protect local industries through higher tariffs and ad hoc tax increases. This will be forced upon the PNG government whether it likes it or not!
• The loan does not significantly change risk around PNG's debt profile, which stands at K48.3bn.
• Continued policy reforms and international support are needed to address PNG's vulnerability to domestic and external shocks. (The details of the reforms are not clear)

 

Read about the 9 structural benchmarks that IMF is setting for PNG, Click Here.

IMF Push Reforms

The IMF's approval of the ECF and EFF is a significant development for PNG, but policy reforms and international support are still needed to address the country's vulnerability to economic shocks. 

While the loan's generous terms will help to contain repayment risk, the government must prioritize debt sustainability and FX shortage alleviation to address PNG's most pressing challenges.

Extended Credit Facility (ECF) and Extended Fund Facility (EFF) 

Notes on: ''The International Monetary Fund has approved a 38-month Extended Credit Facility (ECF) and Extended Fund Facility (EFF) for Papua New Guinea ''

The ECF and EFF are both lending arrangements that provide financial assistance to countries facing balance of payments difficulties. The ECF is a medium-term lending facility, while the EFF is a longer-term lending facility.

The ECF for PNG is designed to provide financial support to the country over a period of 38 months, while the EFF provides support over a longer period of time. The purpose of both facilities is to help PNG address its economic challenges while also implementing necessary structural reforms that can promote sustained economic growth and development.

The recent purported IMF debt facilities are a blended model pegged to 38 months and a further 10 years depending on IMF's ongoing situation analysis.

The policy conditions attached to both facilities include measures to strengthen public financial management, enhance revenue mobilization, improve the business climate, and address governance challenges. These reforms are intended to help restore macroeconomic stability and promote sustained economic growth and development in PNG.

The approval of both the ECF and EFF programs are conditional on IMF reforms in Papua New Guinea.

How to Check NASFUND Balance on Mobile Phone Using 627

As a NASFUND member, it's essential to keep track of your superannuation balance to plan for your future retirement. One of the easiest ways to do this is through your mobile phone. NASFUND has introduced a convenient way for members to access their account balances using their mobile phones through a USSD code, 627. 

In this article, we will guide you through the process of checking your NASFUND balance on your mobile phone using 627.

Step-by-Step Guide to Checking Your NASFUND Balance using 627

• Dial *627# on your mobile phone's dial pad.
• Press the 'call' or 'send' button to initiate the USSD code.
• You will be prompted to enter your NASFUND membership number. Type in your membership number and press 'send'.
• You will be asked to enter your date of birth in the format of DDMMYYYY. For example, if your date of birth is 1st January 1990, you would enter 01011990. Press 'send'.

Alternatively, you can initiate the 4 steps in one go as shown in the video:

The USSD code will then display your current NASFUND balance on your mobile phone screen.

A network fee of 10t will be charged to your phone.

Important Notes to Remember

You must have a mobile phone that is compatible with USSD codes and has an active connection to use this service.

Make sure that you have a sufficient credit balance on your mobile phone to avoid any issues with the transaction.

The USSD code service is available 24/7, but standard network charges may apply.

If you encounter any difficulties while checking your NASFUND balance using 627, you can contact the NASFUND Members Office for assistance.

NASFUND Balance Check

Checking your NASFUND balance using your mobile phone is a quick and convenient way to keep track of your superannuation savings. 

The USSD code service provided by NASFUND is easy to use and can be accessed from anywhere and at any time. By following the step-by-step guide outlined in this article, you can check your NASFUND balance on your mobile phone using 627.

 It's essential to keep track of your NASFUND balance regularly to ensure that you are on track towards achieving your retirement goals.

NASFUND Online Portal: How to Get the Help You Need

NASFUND is Papua New Guinea's largest and most successful superannuation fund, providing secure retirement benefits for over 620,000 members. 

As part of its commitment to providing accessible and convenient services, NASFUND offers a user-friendly online portal for its members, which provides easy access to their account information and other services. 

In this article, we will guide you through the process of registering for and logging into the NASFUND Online Portal, and highlight the benefits of using this platform.

Find out how to check you NASFUND balance using mobile phone, click here

How to Register for the NASFUND Member Portal

Before you can access the NASFUND Online Portal, you need to be a member of NASFUND. If you are not yet a member, you can join by completing an application form and submitting it to your employer or directly to NASFUND. Once you are a member, you can follow these steps to register for the NASFUND Online Portal:

Go to the NASFUND website at www.nasfund.com.pg

Click on the 'Member Login' button at the top right-hand corner of the page

Click on the 'Register' button on the login page

Enter your member number, date of birth, and email address

Create a username and password

Agree to the terms and conditions

Click 'Register' to complete the process

How to Login to the NASFUND Online Portal

Once you have registered for the NASFUND Online Portal, you can log in using the following steps:

Go to the NASFUND website at www.nasfund.com.pg

Click on the 'Member Login' button at the top right-hand corner of the page

Enter your username and password

Click 'Login' to access your account

If you forget your username or password, you can click on the 'Forgot Username' or 'Forgot Password' links on the login page and follow the prompts to reset your credentials.

Benefits of Using the NASFUND Members Online Portal

The NASFUND Online Portal provides a range of benefits for its members, including:

Access to account information: Members can view their account balances, transaction history, and other details at any time from anywhere.

Online transactions: Members can use the portal to update their personal information, nominate beneficiaries, and make online contributions.

Secure communication: Members can use the portal to send secure messages to NASFUND, which helps to protect their personal information.

Convenience: Members can access their account information and services at any time and from anywhere, making it easy to manage their superannuation.

Contact NASFUND Members Office

If you encounter any difficulties with registering for or logging into the NASFUND Online Portal, you can contact the NASFUND Members Office for assistance. You can reach them by phone at 1599 or by email at memberservices@nasfund.com.pg.

Conclusion

The NASFUND Online Portal is a convenient and secure platform for NASFUND members to manage their superannuation. By following the simple registration and login steps outlined in this article, members can easily access their account information and use a range of services online. With its user-friendly interface, secure communication features, and round-the-clock accessibility, the NASFUND Online Portal is an essential tool for managing your retirement savings.

Golden Sun SCAM: How Much MONEY It Made in 2 Months, Insane!

Recently, a money scheme called Golden Sun was exposed as a scam in Papua New Guinea (PNG). The scheme, which was marketed as an investment opportunity and online movie review website, turned out to be a pyramid scheme.

Thousands of people lost their money. This has highlighted the dangers of easy-money-making schemes online and the need for people to be aware of these scams. 

So, how much did the Golden Sun money scam make?

Unsuspecting Victims of Golden Sun PNG

People in PNG paid PNGK720 for Golden Sun's D level, which is the lowest level people pay to subscribe. 

This means that the scammers were making a lot of money from unsuspecting victims, and paid a little bit to a few subscribers who promote them on YouTube and Facebook.

The scheme started early in 2023 and disappeared this week (the third week of March) when many Papua New Guineans started raising questions about this scam and its business deals.

How Many People Have Fallen Victim?

Using the baseline of PNGK720 and subscribers numbers of 5,000, 10,000, 50,000, 65,000, and 100,000, we can see how much money the Golden Sun scammers were making.

Also, note that the actual number of Golden Sun victims could be more! Many Papua New Guineans are losing their money.

It makes your blood boil!

Number of Subscribers	Amount paid (in PNGK)	Amount paid (in USD)
5,000	3,600,000	1,039,293.76
10,000	7,200,000	2,078,587.52
50,000	36,000,000	10,392,937.60
65,000	46,800,000	13,518,157.44
100,000	72,000,000	20,785,875.20

How much Money do Scammers Make?

As the table shows, even at the lowest level of 5,000 subscribers, the scammers were able to make over a million US dollars. 

At the highest level of 100,000 subscribers, they were able to make over 20 million US dollars. 

This is a staggering amount of money that was taken from unsuspecting victims who believed they were making a wise investment.

The ABC article on Golden Sun highlights some of the key points of the scheme. It states that 

"investors were promised high returns on their money and encouraged to recruit others to invest." 

However, as with all pyramid schemes, the money was not being invested in any legitimate business, and instead was simply being used to pay off earlier investors.

The article also notes that 

"the scheme is estimated to have affected up to 200,000 people in PNG." 

This is a huge number of people who have been affected by this scam. 

If it is true that 200,000 people are affected, the money that Golden Sun made could be doubled. That is an issue that could have raised a lot of questions in the Banking and Financial sector by now.

The magnitude of this scam cannot be underestimated.

It is important for people to be aware of these scams and to be cautious when considering investing their money in any opportunity.

Golden Sun - The Biggest Scam in PNG

The Golden Sun scam in PNG has highlighted the dangers of easy-money-making schemes online. It is easily the biggest scam in PNG given the amount of money they robbed off the poor Papua New Guinean victims.

The scammers were able to make millions of dollars by taking advantage of unsuspecting victims. It is just not fair.

Sadly, people are not aware of these scams and did not take cautionary measures when considering investing their money. 

Remember, if it sounds too good to be true, it probably is. 

DON'T BE A F*CKING VICTIM NEXT TIME!

NGIP Agmark Limited Delivers Profit Despite Drought: FY22 Financial Results Unveiled

NGIP Agmark Limited has announced a preliminary result of K3.97 million after tax for the year ended December 31, 2022. This is a decrease in revenue by K9.4m or 6.33% due to diminished sales in cocoa and coffee exports. However, the company still managed to declare a profit for FY22, proving its resilience despite a challenging year.

NGIP Agmark Limited Decrease in Revenue

The decrease in revenue was mainly due to a drought that hindered cocoa production for most of the year, leading to a significant drop in revenue compared to the previous year. 

However, through key initiatives from past experiences, combined with a robust reporting system and a streamlined management structure, NGIP Agmark Limited was able to minimize costs and take advantage of profit-making opportunities to ensure a profit for FY22.

The company's cost of sales decreased by K8m or 7.5% in FY22, and admin and finance costs grew by 1.31m or 2.8%, mainly due to occupancy costs. 

Despite the increase in occupancy costs, the company closed underperforming branches in the previous year, resulting in a 22% decrease in occupancy costs in FY21.

NGIP Agmark Limited Dividend Payout

During the AGM held in June 2022, the board announced a dividend payout for the FY21 performance of the audited K7.3M profit after tax. A distribution of K0.04 per share was paid in November 2022, marking the second consecutive year that a dividend was paid.

Throughout FY22, the company continued to focus on supporting its customers, especially the cocoa farmers, and solidifying strong relationships with suppliers, providing shareholder value through the challenges of 2022.

Looking forward, NGIP Agmark Limited

Looking forward, NGIP Agmark Limited aims to:

• continue its expansion plans, focusing on investing in technology to improve operational efficiency, and
• enhance customer experience, while also exploring new markets and business opportunities to grow the company's revenue and profitability.

Investors' Takeaway

• Despite facing a challenging year due to a drought that hindered cocoa production, NGIP Agmark Limited managed to declare a profit for FY22, demonstrating the company's resilience and strength.
• The company's focus on cost optimization and taking advantage of profit-making opportunities helped minimize costs and achieve profitability.
• NGIP Agmark Limited paid dividends for two consecutive years, indicating its commitment to creating value for shareholders.
• The company's investment in technology to improve operational efficiency and customer experience, coupled with its exploration of new markets and business opportunities, bodes well for its future growth and profitability.
• NGIP Agmark Limited's continued focus on supporting its customers, especially cocoa farmers, and building strong relationships with suppliers reinforces the company's commitment to its stakeholders and sustainable growth.

In Brief

Despite the challenges faced by NGIP Agmark Limited in FY22, the company has shown resilience and strength, delivering a profit and paying dividends to its shareholders. 

The company's focus on cost optimization and investment in new technology and markets bodes well for its future growth and profitability.

Credit Corporation PNG Commercial Bank Approval - Exciting Opportunities Ahead

Credit Corporation PNG has reported its financial results for the financial year ending December 31, 2022. 

• The company's core operating profit was K98.8m, up 25.0% from the previous corresponding period (PCP). 
• The net profit after tax (NPAT) was K86.04m, an increase of 11.9%. 
• The company's earnings per share rose from 25 toea to 28 toea per share. 
• The total risk-weighted capital ratio increased from 40.1% to 45.0%. 
• The dividend per share for FY22 was 22.5 toea, up 25.0% from the previous year.

Download the full report here.

Credit Corporation PNG dividend income

The Finance Division of Credit Corporation had an NPAT of K36.6m, up 41.9% from the PCP, while the Property Division recorded a core operating profit of K13.4m, up 31.0% from the PCP. 

The company's dividend income increased from K52.9m to K61.5m.

Credit Corporation PNG Commercial Bank 'Approval'

Credit Corporation is transitioning to becoming a fully-fledged niche commercial bank, and the Bank of PNG granted it 'Approval in Principle' for an unrestricted banking license. 

The company's outlook is positive, and it will continue to focus on pursuing growth opportunities while maintaining a strong balance sheet and disciplined approach to managing the quality of its loan book.

Investors' takeaway

For investors, the key takeaways are that Credit Corporation's financial performance for FY22 was strong, with an increase in profitability, earnings per share, and dividend per share. 

The company's decision to transition to a fully-fledged niche commercial bank and its Approval in Principle from the Bank of PNG for an unrestricted banking license are important developments to watch. 

The company's focus on disciplined management of its loan book and strong balance sheet is reassuring for investors.

Read about how to invest in PNG Stocks, Treasury Bills and Government Bonds.

In Brief:

Credit Corporation PNG has reported a strong financial performance in FY22, including a 25% increase in core operating profit and 11.9% rise in NPAT. The Group's total risk-weighted capital ratio rose to 45%, while its property division recorded a core operating profit of K13.4m. Credit Corporation also declared a final dividend for FY22 of 12.3 toea per share, a 25% increase compared to FY21. The Bank of Papua New Guinea granted the company 'Approval in Principle' for an unrestricted banking license, allowing it to transition to becoming a bank and ultimately listing on the ASX.

How to Invest in Stocks and Bonds in PNG: A Beginner's Guide

Papua New Guinea (PNG) is a rapidly growing economy that offers opportunities for investors who are willing to take on some risk. Investing in stocks and bonds in PNG can be a great way to diversify your portfolio and potentially earn high returns. 

In this beginner's guide, we'll cover everything you need to know about how to invest in stocks and bonds in PNG.

Choose a Broker

The first step in investing in stocks and bonds in PNG is to choose a broker. There are several reputable brokers in PNG, including 

• Kina Securities, 
• BSP Capital, and 
• Capital Markets. 

It is important to choose a broker that is licensed and regulated by the Bank of PNG to ensure that your investments are safe and secure.

Understand the Fees

When you invest in stocks and bonds in PNG, you will incur brokerage fees, which are charged by the broker for executing trades on your behalf. 

Brokerage fees vary depending on the broker and the size of the trade, but they typically range from 0.25% to 1% of the trade value.

Know the Stocks Available on POMSoX

The PNG Stock Exchange (POMSoX) is the only stock exchange in PNG, and it lists several companies in various sectors, including banking, telecommunications, and mining. 

Some of the stocks available on POMSoX include:

• Bank South Pacific Limited (BSP), 
• Credit Corporation (PNG) Limited (CCP),
• NGIP Agmark (NGP)
• Kina Securities Limited (KSL),
• Newcrest Mining Limited (NCM) and
• City Pharmacy Limited (CPL).

Check out the complete list of companies on POMSox website. 

If you want to find out how to invest in stocks, check out this article I wrote in 2017.

Differentiate Between Stocks and Bonds

Stocks and bonds are two different types of investments that offer different benefits and risks. 

Stocks represent ownership in a company and offer the potential for high returns but come with high risk due to market volatility. 

Bonds, on the other hand, represent debt and offer a fixed rate of return but come with low risk due to their stability.

Understand Government Bonds

Investing in government bonds is a low-risk investment option that offers a fixed rate of return over a set period. 

The Papua New Guinea government issues several types of bonds, including Treasury Bills, Inscribed Stock, and Inscribed Stock Indexed. 

These bonds can be purchased through a broker, and the minimum investment amount is usually PGK 5,000.

Visit the Central Bank of PNG website for more info on Treasury Bill and Government Bond.

(Screenshot Central Bank of PNG Bills and Bonds Rates)

SWOT Analysis of Stocks and Bonds Investments in PNG

Strengths:

• High potential returns in a growing economy
• Diversification opportunities to spread risk
• Government policies to promote investment

Weaknesses:

• Market volatility with fluctuating prices
• Limited options and lack of reliable information
• Currency risk due to exchange rate fluctuations

Opportunities:

• Growing economy with abundant natural resources
• Infrastructure development priorities
• Emerging markets for new investment opportunities

Threats:

• Political instability and natural disasters
• Currency risk and exchange rate fluctuations

Conclusion

Investing in stocks and bonds in PNG can be a lucrative opportunity for investors who are willing to take on some risk. 

By following the steps above, investors can choose a reputable broker, understand the fees, research available stocks, differentiate between stocks and bonds, and understand government bonds. 

With careful consideration and a long-term investment strategy, investors can potentially earn high returns in a growing economy. 

However, it is important to be aware of the risks and threats associated with investing in PNG and to seek advice from professional brokers before making any investment decisions.

Golden Sun PNG Investment Company - Scam or Legit?

Golden Sun Investment website is a movie review platform that has been gaining a lot of attention in Papua New Guinea (PNG) in recent times. The platform has attracted mixed reactions, with some people claiming that it is a clever scheme run locally, while others insist that it is a legitimate investment opportunity that has enabled them to make money. 

This article will provide a balanced argument about Golden Sun Investment and address some of the issues raised by both sides.

Update: Here is how much Golden Sun made from the poor Papua New Guinean victims

Want to make real money online, sustainably? Find out here 

 

Golden Sun Investment

First, it is important to realise that while some people have made money through Golden Sun Investment and online fast money schemes, it is not a guaranteed way of making money. 

As with any investment where you put money in to make more money, there are risks involved, and people should be cautious and do their own research before investing their hard-earned money. 

Note that while some people have had positive experiences with Golden Sun, this does not necessarily mean that the platform is legitimate or that it will continue to operate sustainably.

Here is a discussion on Twitter that you might want to check out.

Legitimacy of Golden Sun PNG Company - legit or scam?

On the other hand, some people have raised concerns about the legitimacy of Golden Sun Investment, claiming that it is a scam. 

In particular, in this article on PNG Attitude, Gabriel mentioned that Golden Sun is a clever scheme. It is run within PNG and not out of the UK, as the Golden Sun website claims. 

He says that after analysing the movie reviews and transactions, he found that the transaction packets did not go to an internet payment gateway (IPG), but to a data centre in the United Kingdom that hosts the website. 

He also says that when people click the withdrawal button, a website administrator in PNG receives their request, along with their user ID and bank details, and then physically transfers money to their account via SMS or internet banking.

These claims are serious and should be taken seriously. If true, they suggest that Golden Sun Investment is not a legitimate investment opportunity and that people should be wary of investing their money in it. 

However, these claims have not been independently verified, and it is possible that they are not entirely accurate or that they do not tell the full story. Therefore, it is essential to approach these claims with an open mind and to do your own research before making any investment decisions.

Find out how to invest in PNG companies, Government Bonds and Treasury Bills and make - you can do all these in PNG.

Golden Sun App Investor's Response

Some people have had positive experiences with Golden Sun Investment and have been able to make money through the platform. For example, Augustine Memelua (in the comments on the article linked above) claims to be a member of Golden Sun Investment and says that the claims made by Gabriel are false. 

Augustine says that you cannot withdraw when you register in level F, but that you have to register in levels D up to S and earn more dollars before you can withdraw. 

Augustine also claims to have paid K720 (level D) and has already withdrawn it, and has now earned K951 from his K720.

While Augustine's claims are positive, it is important to remember that they do not necessarily mean that Golden Sun Investment is a legitimate investment opportunity. 

Is Golden Sun Earning Sustainable?

Just because some people have made money through the platform does not mean that it is sustainable or that everyone will be able to make money in the future. 

As mentioned earlier, investing in Golden Sun Investment, like any other investment and fast-money-making scheme, carries risks. People should be cautious and do their own research before investing their money.

Do Your Research on Golden Sun PNG - do not rush into it!

All in all, it is clear that Golden Sun Investment has attracted a lot of attention in PNG, with some people claiming that it is a legitimate investment opportunity that has enabled them to make money, while others insist that it is a scam. 

While the claims made by both sides are serious and should be taken into consideration, it is important to approach them with an open mind and to do your own research before making any investment decisions.

Ultimately, investing in Golden Sun Investment, like any other investment, carries risks, and people should be cautious and manage their hard-earned properly.

NOTE: If you have participated in Golden Sun PNG, let PNG Insight readers know how to register, also explain the different levels of movie reviews, so that it can help know how it works.

BSP Personal Loan Calculator Tips You Should Know

A personal loan is a popular financial product that can help you meet various expenses such as paying for a wedding, renovating your home, or funding your child's education. 

It can be challenging to know how much you should borrow and what your monthly payments will be. This is where a BSP personal loan calculator comes in handy.

BSP personal loan calculator 

BSP (Bank South Pacific) is a leading bank in the South Pacific region that offers a wide range of financial products and services, including personal loans. 

The BSP personal loan calculator is an online tool that allows you to calculate your loan repayment amount based on various parameters.

How to use the BSP personal loan calculator

Using the BSP personal loan calculator is a straightforward process. All you need to do is follow the steps below:

• Go to the BSP website: The first step is to visit the BSP website and navigate to the personal loan calculator page.

• Enter loan amount: Once you are on the personal loan calculator page, you need to enter the loan amount you want to borrow. This is the total amount you need to meet your expenses.

• Choose loan term: Next, choose the loan term, which is the period over which you will repay the loan. BSP offers loan terms of up to 5 years.

• Enter interest rate: The next step is to enter the interest rate. BSP offers competitive interest rates on personal loans, and you can find the current rate on their website.

• Click "Calculate": Once you have entered all the necessary information, click on the "Calculate" button. The calculator will then display the monthly repayment amount, including the principal and interest.

What many people don't know about the BSP personal loan calculator

While the BSP personal loan calculator is a useful tool for calculating your monthly loan repayment amount, there are a few things that many people don't know about it. 

Here are some important points to keep in mind:

• It doesn't take into account other fees: While the BSP personal loan calculator calculates your monthly repayment amount based on the loan amount, term, and interest rate, it doesn't include other fees such as application fees or processing fees. Make sure you factor in these fees when deciding on the total loan amount.
• The interest rate is subject to change: The interest rate on your personal loan is not fixed and is subject to change over time. Make sure you check the BSP website for the latest interest rates before applying for a loan.
• It's an estimate: The BSP personal loan calculator is only an estimate of your monthly repayment amount. The actual amount may vary depending on various factors such as late payments, changes in interest rates, and other fees.

The BSP personal loan calculator is a useful tool for anyone looking to apply for a personal loan. 

It allows you to calculate your monthly repayment amount based on various parameters, which can help you make an informed decision about your loan.

It's important to keep in mind that the calculator is only an estimate, and the actual loan amount may vary depending on other factors.

BSP Capital Stock Broker: How to Invest with BSP Capital

Investing in stocks can be a great way to grow your wealth and achieve your financial goals. BSP Capital is a leading investment firm in Papua New Guinea (PNG) that offers investment services for both domestic and overseas stocks. 

If you're interested in investing in PNG and overseas stocks with BSP Capital, here's a step-by-step guide on how to get started.

Step 1: Open an Account with BSP Capital

The first step to investing in stocks with BSP Capital is to open an account. You can do this by visiting their website or by visiting one of their offices in PNG. 

To open an account, you'll need to provide some personal information, such as your name, address, and identification documents.

Step 2: Fund Your Account

Once you've opened an account with BSP Capital, you'll need to fund it. You can do this by transferring funds from your bank account to your BSP Capital account. 

BSP Capital offers a variety of payment methods, including bank transfer, credit card, and mobile banking.

Step 3: Select the Stocks You Want to Buy

After funding your account, you can start selecting the stocks you want to buy. 

BSP Capital offers a wide range of domestic and overseas stocks, including companies listed on the PNG stock exchange, the Australian stock exchange, and the New Zealand stock exchange. 

You can use BSP Capital's research reports to help you make informed investment decisions.

Step 4: Place Your Order

Once you've selected the stocks you want to buy, you can place your order through BSP Capital's trading platform. 

You'll need to specify the number of shares you want to buy and the price you're willing to pay. 

BSP Capital charges a brokerage fee for every trade you make, which will depend on the value of your trade. 

You can find out more about BSP Capital's brokerage fees on their website, or visit them in person.

Step 5: Hold Your Shares

After buying your shares, you'll need to hold them in your BSP Capital account. 

BSP Capital offers a range of services to help you manage your portfolio, including regular portfolio updates, online trading, and access to research reports.

Step 6: Sell Your Shares

If you want to sell your shares, you can do so through BSP Capital's trading platform. 

You'll need to specify the number of shares you want to sell and the price you're willing to accept.

BSP Capital will charge a brokerage fee for every trade you make, which will depend on the value of your trade.

Required Forms to Fill

To open an account with BSP Capital, you'll need to fill out an account opening form. 

This form will require you to provide personal information, such as your name, address, and identification documents. 

You may also need to fill out additional forms depending on the type of account you're opening.

Assistance and Office to Visit

If you need assistance with opening an account or trading stocks, you can contact BSP Capital's customer service team. 

They can provide you with information on brokerage fees, trading platforms, and investment opportunities. 

You can also visit one of BSP Capital's offices in PNG to speak with a representative in person.

Important Details About Shares Investment with BSP Capital in PNG

Investing in shares with BSP Capital in PNG can be a great way to grow your wealth and achieve your financial goals. 

However, it's important to understand the risks involved. Here are some important details to keep in mind:

Risk and Reward

Investing in shares can be risky, as share prices can be volatile and can go up or down in value. However, investing in shares can also be rewarding, as you can earn dividends and capital gains if the share price increases.

Diversification

It's important to diversify your portfolio by investing in a range of different shares. This can help reduce your overall risk, as not all shares will be affected by the same economic or market conditions.

Research

Before investing in any shares, it's important to do your research. This can include reading company reports, financial statements, and news articles. BSP Capital also provides research reports that can help you make informed investment decisions.

Brokerage Fees

BSP Capital charges a brokerage fee for every trade you make. This fee will depend on the value of your trade and can be found on their website. It's important to factor in these fees when making investment decisions.

Tax Implications

Investing in shares can have tax implications. It's important to understand the tax rules in PNG and overseas where you're investing. BSP Capital can provide you with information on tax implications for your investments.

Investment Goals

Before investing in shares, it's important to determine your investment goals. Are you investing for the short term or the long term? What is your risk tolerance? These factors will influence your investment decisions.

Conclusion (BSP Capital PNG)

Investing in shares with BSP Capital in PNG can be a great way to grow your wealth and achieve your financial goals. 

By following the steps outlined in this guide, you can start investing in domestic and overseas shares today. It's important to remember that investing in shares involves risk, so it's important to do your research and diversify your portfolio. 

BSP Capital provides a range of services to help you manage your investments, including research reports, online trading, and portfolio updates. With the right approach and guidance, investing in shares can be a rewarding experience.

BSP SME Loan Requirement and Eligibility You Should Know

Small and Medium Enterprises (SMEs) play a significant role in the economic development of Papua New Guinea. As such, the Bank of South Pacific (BSP) offers a range of financial products and services specifically designed for SMEs. 

One such product is the BSP SME Loan, which provides financing for business activities such as working capital, expansion, and asset purchases. 

In this article, we will explore the requirements and eligibility criteria for obtaining a BSP SME Loan.

Check out the information on BSP PaySecure App, click here.

BSP SME Loan Eligibility Criteria

To be eligible for a BSP SME Loan, applicants must meet the following criteria:

• Business Registration: The business must be registered with the Investment Promotion Authority (IPA) or the relevant government agency.

• Business Experience: The applicant must have at least two years of business experience in the same industry.

• Credit History: The applicant must have a good credit history with no defaults or outstanding debts.

• Collateral: The applicant must have collateral to secure the loan.

• Business Plan: The applicant must provide a comprehensive business plan that outlines the purpose of the loan, the projected cash flow, and the repayment plan.

BSP SME Loan Requirements

To apply for a BSP SME Loan, applicants must provide the following documents:

• Business Registration Certificate: This is a legal document that proves that the business is registered with the relevant government agency.

• Bank Statements: The applicant must provide at least six months of bank statements that show the business's financial history.

• Financial Statements: The applicant must provide a profit and loss statement and balance sheet for the last two years.

• Tax Returns: The applicant must provide the latest tax returns for the business.

• Collateral Documents: The applicant must provide documents that prove ownership of the collateral being offered to secure the loan.

• Business Plan: The applicant must provide a comprehensive business plan that outlines the purpose of the loan, the projected cash flow, and the repayment plan.

Loan Amount and Repayment Terms

The BSP SME Loan provides financing of up to PGK 1,000,000 with a repayment period of up to five years. The interest rate is fixed for the entire loan period, and the loan can be secured or unsecured, depending on the collateral provided.

The repayment terms for a BSP SME Loan are flexible, with repayment options including weekly, fortnightly, or monthly payments. 

The loan can also be repaid in full at any time without penalty.

BSP SME Loan is an excellent financing option

The BSP SME Loan is an excellent financing option for small and medium enterprises in Papua New Guinea. 

To be eligible for the loan, applicants must meet the eligibility criteria and provide the required documents. 

The loan provides flexible repayment terms, and the loan amount can be used for various business activities. 

If you are a small or medium business owner looking for financing options, the BSP SME Loan might be the right fit for you.

5 Things about BSP SME Loans that not many people know

1. BSP SME Loan offers a grace period: One of the unique features of the BSP SME Loan is that it offers a grace period of up to six months. This means that the borrower can defer the principal repayment for up to six months, which can help ease the initial burden on the business's cash flow.
2. The loan can be used for refinancing: Many people are unaware that the BSP SME Loan can also be used for refinancing existing loans from other financial institutions. This can be an excellent option for businesses looking to consolidate their debts and simplify their loan repayment process.
3. BSP SME Loan provides access to business advisory services: BSP offers business advisory services to its SME loan customers, which can help them improve their financial management and business performance. These services include financial planning, cash flow management, and business strategy development.
4. The loan amount can be used for various purposes: While the BSP SME Loan is primarily designed for working capital, expansion, and asset purchases, many people are not aware that it can also be used for other business purposes, such as marketing and promotional activities.
5. BSP SME Loan offers a range of repayment options: In addition to the flexible repayment terms, BSP SME Loan also offers a range of repayment options, including direct debit, BSP online banking, and BSP mobile banking. This provides convenience and flexibility to borrowers, allowing them to choose the repayment method that best suits their needs.

Conclusion

The BSP SME Loan is a financial product offered by Bank of South Pacific specifically designed for small and medium enterprises. 

The eligibility criteria for the loan include business registration, credit history, collateral, business experience, and a comprehensive business plan. 

Required documents include bank statements, financial statements, tax returns, and collateral documents. 

The loan amount is up to PGK 1,000,000 with flexible repayment terms and a fixed interest rate for the entire loan period. A

BSP SME Loan offers a grace period, access to business advisory services, and a range of repayment options. It can also be used for various business purposes, including refinancing existing loans.