Business

Fiji Ports Announces $3.698m Dividend

This is a record-breaking achievement, says ports chairman RANOBA BAOA SUVA Fiji Ports Corporation Limited has announced a record-breaking dividend payout to Government of $3,698,979. This followed the corporation’s Annual
26 Jun 2014 09:40

From left: Vajira Piyasena, Tevita Kuruvakadua, Vijay Maharaj, Commander Joeli Cawaki, Vilash Chand, Elizabeth Powell yesterday. Photo: Jona Konataci

This is a record-breaking achievement, says ports chairman

RANOBA BAOA
SUVA

Fiji Ports Corporation Limited has announced a record-breaking dividend payout to Government of $3,698,979.
This followed the corporation’s Annual General Meeting yesterday at its head office in Walu Bay, Suva.
In his announcement, Fiji Ports chairman, Tevita Kuruvakadua said the group recorded strong and profitable trading results the past year.
“Dividend payment for the 2013 financial year of $3,698,979 represents a 1.2 per cent increase over prior year,” Mr Kuruvakadua said.
“This is the highest record paid by Fiji Ports to Government.”
In accepting the cheque, Permanent Secretary of Public Enterprises, Elizabeth Powell said: “The Ministry and Government is most grateful to the management and board for the exceptional performance of the organisation over the past year.
“It was a successful implementation of the Port Terminal Limited’s private-public partnership and we are very pleased to accept a record dividend payment.”

Future
Mr Kuruvakadua added the group’s target was moving forward to developing and sustaining its 15-year Master Development Plan for port infrastructure development.
“The plan is based on a consultative, integrated, staged and financially sustainable approach to future port development.
“Terms of Reference was prepared for the consultation product to develop the Port Master Plan, which was reviewed by the Asian Development Bank’s Transport Group who confirmed the Plan’s sustainability.
“The plan is being driven by the very realy need for port infrastructure upgrades, particularly at a time of increased globabalisation and trade.”
He added the plan would be carefully executed to ensure long-term benefits and economic returns for shareholders.
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