#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Fijian Holdings trio reinstated

Monday, July 6, 2009

Fijian Holdings trio reinstated

In a surprise move, the FHL directors suspended last week have been told to resume their roles.

The trio - Sereana Qoro, Isoa Kaloumaira and Colonel Mohammed Aziz - were asked to take leave as an audit into the holding's corporate governance was being undertaken.

But Fiji TV news has tonight announced that the directors have been given the all clear by the interim regime and can return to work.

Critics believe there was more to Friday's announcement the three directors were going on leave. It's being suggested that corrupt behaviour at the FHL, is at the core of the decision.

Coupfourpointfive sources say the two regime installed directors have also been backstabbing each other and that has a lot to do with the fallout.

Editors note: see earlier Coupfourpointive story - Back stabbing leads to FHL shake-up.

8 comments:

Anonymous said...

The FHL Shareholders must take steps to address the problems that have beset the BP Oil acquisition before the Company folds up and they lose all their investments.

Something is very wrong and this regime is trying its best to cover it up.

Anonymous said...

Looked at from the BP side though, can there be any real doubt that this deal is a cooked turkey now?

I mean look at it - you've had how many delays to the deal already; FHL can't seem to find any financiers; Fiji has had a 20% devaluation which makes that 20% harder now; Top management are imploding; The board's authority over the company is questionable because the Commander can over-ride everything; Ditto the SPSE; Ditto the Fiji Courts which will have to rule on any payment contract dispute that will almost certainly arise (see NLTB/PCX debacle).

And that's just the purchaser. What about the alleged new "financiers"? What would they be making of all this? Only a fool, or someone desperate to launder money, would get into this now it has deteriorated to this stage.

The only "upside" to this deal for BP is the plum pre-coup price they got for the operation. In view of the almost certain economic crunch Fiji is now heading into for the next year or more, BP SW Pacific will also be headed for such a dip in value and profit-generating capacity, that they must be willing to accept significant deal risks and sale price drops in order to avoid that.

Anonymous said...

Forget high finance for a moment and ponder this latest announcement? Apparently the Sea Wall at Suva has been deeemed so dangerous that from now on it will be patrolled by religious police especially during 'the unholy hours?' Couples found in this place at this time will be 'evalgelised'?
These people playing with a full deck?

Anonymous said...

Dealt their "last card"???

Anonymous said...

No doubt the evangelisation will be a free XXXX job.

Anonymous said...

LOL at Anon, 7 July 2:54pm.

Well, the Fiji Police Force must be the laughing stock amongst those in the same discipline around the world.

Just as well they took away the "Royal" from their title or they would be such an embarrassment to the gracious lady at Buckingham Palace.

What a laugh!!!

They remind me of the secret police in some muslim countries that enforce their religion on everyone and could go to the extent of killing people to get them to follow their beliefs.

mark manning said...

The biggest crime in Fiji is the rape of the Fiji Constitution, the loss of free speech, the loss of freedom of assembly, the loss of freedom of the press, the loss of the freedom of expression, the loss of a Democratically Elected Government, the loss of employment, the loss of Education, the loss of opportunities, the loss of Justice and so much more :-
http://www.rnzi.com/pages/news.php?op=read&id=47581

Anonymous said...

such as the simple pleasure of walking along the Suva sea wall at times you view appropriate with somebody you like being with and not being being accosted by publicly funded screw loose religious freaks.