$402.1m assets

Company records $117k profit

WHILE there has been a decline in the world market price of coconut oil from $US1400 ($F2973) TO $US700 ($F1486) the Copra Millers of Fiji Ltd has noted an increase in demand for virgin coconut oil. Company general manager John Deo said the virgin coconut oil demand had picked and they were selling all locally...

Marriott launches new loyalty brand

LOYAL guests of Marriott branded properties now have reason to celebrate with the launch of the Marriott Bonvoy rewards program in the country. Marriott International Fiji announced the new loyalty brand replaced previous loyalty brands, including Marriott Rewards, the Ritz-Carlton Rewards and Starwood Preferred Guest (SPG). This will be represented in all five Marriott associated...

Spread success of tourism – PM

PRIME Minister Voreqe Bainimarama has encouraged the tourism industry to help spread its success to every Fijian community. Mr Bainimarama said while the industry had been instrumental in providing employment to thousands of Fijians, there were some that were still trying to benefit from the industry. “Fijians across the country feel the benefits as well,...

Government invested $163m in rural electrification in past five years

IN the past five years from 2014 to the 2017/2018 budget, the Fijian Government has invested around $163million in rural electrification. Minister for Infrastructure Jone Usamate noted this as he responded to a question on when local farmers who do not have access to electricity will be connected to the EFL power grid. He said...

Fiji 13th country for UAA to establish operations

FIJI is now the 13th country where the Underwriting Agencies of Australia has been established and is responsible for insurance cover of powerful equipment use in the construction industry. Global chief executive for UAA Michael Murphy says there is so much potential in Fiji. “There’s nothing more obvious than when you come out of the...

2018 FETA winners honoured

THE ANZ Fiji Excellence in Tourism Awards (FETA) has given the prestigious Lifetime Achievement award to two individuals – Michael Dennis and Bill Whiting – while the late Patrick ‘Paddy’ Doyle was given the Visionary Award. FETA trustee Dixon Seeto said both Dennis and Whiting had contributed immensely towards the growth of the tourism industry....

50 per cent Fijians not compliant with paying taxes: FRCS

FIFTY per cent of Fijians in the country are not compliant with paying their taxes, says Fiji Revenue and Customs Service chief executive officer Visvanath Das. He said the tax office needed to work with other stakeholders in order to address this issue. “I am very saddened to say that at the moment, it is...

Common goals unite unions

TRADE unionists in the country put up a united front as the merger between the Fiji Trades Union Congress (FTUC) and the former Fiji Islands Council of Trade Unions (FICTU) was formalised at the FTUC Special Delegates Conference in Nadi over the weekend. The formalisation was solidified with the FTUC Constitution during a closed meeting...

Williams takes advantage of market day

TERRY Walk in Suva was a hive of activity yesterday as many turned up to take advantage of the monthly Westpac Market Day. Theresa Williams was among the vendors at yesterday’s market day. The 22-year-old said the market day provided an avenue for small businesses to sell their products because there were no additional costs....

32 horses for Gau farmers

THE burden of transporting produce from farms on Gau Island has been made easier for farmers on the island. This follows the recent transportation of 32 horses to Gau in the Lomaiviti group by the Ministry of Agriculture officials. The horses will assist farmers transport their produce from their farms after harvesting. The initiative, funded under...

More Brexit embarrassment for May as parliament defeats her again

LONDON (Reuters) – Prime Minister Theresa May suffered a defeat on her Brexit strategy on Thursday that undermined her pledge to European Union leaders to get her divorce deal approved if they grant her concessions. In a show of muscle, hardline Brexit supporters in her Conservative Party decided to abstain, handing her an embarrassing, albeit...

Refurbishment of Monasavu hydro scheme in Government, EFL’s best interest

FIJI’S Minister for Infrastructure and Transport Jone Usamate says that it is in the best interest of Government and Energy Fiji Limited to carry out the half-life refurbishment of Monasavu Hydro Electric Scheme. Mr Usamate told Parliament this week that the refurbishment would enhance and complement the implementation of Fiji’s Power Development Plan. He said...

Grid extension project for Lomaivuna estimated to cost $1.6m

THE grid extension project for Navutu, Lomaivuna, and nearby settlements in Naitasiri is estimated to cost about $1.6million. Revealing this in Parliament, Minister for Infrastructure and Transport Jone Usamate said the project should be completed by June this year. There are about 108 houses that will benefit from the project. “Once again, the grid extensions,...

Carpenters Finance opens new office in Nabua

CARPENTERS Finance Ltd’s new office in Nabua will provide financial services to both businesses and individuals in the area, says general manager Alok Mishra. The company officially opened its office at the Nand’s complex in Nabua this morning and services that will be provided include Moneygram, personal loans and other services. Mr Mishra said they...

$1.68m paid out

THE Accident Compensation Commission Fiji (ACCF) has paid out $1,683,000 in compensation for motor vehicle accidents since January 1, 2019. According to statistics provided by the ACCF yesterday, so far this year the commission has received 300 applications out of which 234 are for injuries caused by motor vehicle accidents and 37 applications for death...

WG plaza depicts potential

WG Friendship Plaza is a solid representation of Fiji’s enormous potential and the strength of its international relations, says Aveet Goundar, co-principal of Raine & Horne Fiji. The global real estate firm has been appointed to market the modern luxury apartments in WG Friendship Plaza. Mr Goundar said the firm continued to play a leading...

Commission raises awareness on compensation

IF a worker suffered personal injury as a result of an accident arising out of and in the course of employment, the worker’s employer must pay the worker a weekly payment of two-thirds of the weekly earnings which the worker was earning at the time of the accident. This was questioned by members of the...

A little bit of perfect

A DREAM project that started off in with just four beachfront bure in 2010 has now grown into a spectacular 10 villa resort, winning accolades on international travel sites. Maui Palms is owned and managed by Wayne Lawrence and his wife Christine Badia who have invested more than $6 million in the establishment over the...

Focus on compliance and performance

A THREE-DAY course for company directors provided a platform for them to learn about getting the right balance of focus on compliance and performances with strategy and risk management. The Australian Institute of Company Directors held its Fiji Director Training course at the Grand Pacific Hotel during which facilitator Jenny Seeto said issues that were...

Market review

FIJI’S corporate bond market is filled with untapped potential as it provides an opportunity to address the capital needs of corporates seeking alternatives to borrowing from a single financial institution, says Reserve Bank of Fiji governor Ariff Ali. Mr Ali said their current estimates place the value of outstanding corporate loans to about $2 billion....

Das highlights challenges

ONE of the issues the Fiji Revenue and Customs Service faced was the offshore remittances, says CEO Visvanath Das. Mr Das highlighted this during an information session held at the Fiji Employers and Commerce Federation (FCEF) office in Suva yesterday. He said some of these remittances came in the form of shifting funds from Fiji...

448 intelligence reports investigated by authorities

A TOTAL of $241.3 million was identified from the 448 intelligence reports that were disseminated to the law enforcement agencies for further investigation of possible tax evasion, money laundering and other serious offences. In its 2017 annual report the FIU revealed that it had received and analysed 650 suspicious transaction reports in total. The FIU...

Exclusive: Brazil miner Vale knew deadly dam had heightened risk of collapse

BELO HORIZONTE, Brazil (Reuters) – Vale SA, the world’s largest iron ore miner, knew last year that the dam in Brazil that collapsed in January and killed at least 165 people had a heightened risk of rupturing, according to an internal document seen by Reuters on Monday. The report, dated Oct. 3, 2018, shows that...

Thai tycoon agrees to pay fine for Bangkok Airways share trading – regulator

BANGKOK (Reuters) – Thai billionaire Prasert Prasarttong-osoth and two other major shareholders of Bangkok Airways have agreed to pay a fine totalling nearly 500 million baht ($16 million) for share price manipulation, the Securities and Exchange Commission (SEC) said on Monday. The regulator announced the fine on Prasert, who was also CEO of Bangkok Dusit...

Business

19th February