SUNBIZ

FSC Annual General Meeting Today

Fiji Sugar Corporation will have its first annual general meeting in four years today in Lautoka at 3pm. The AGM will provide the platform for discussion of past three year’s
27 May 2015 09:38
FSC Annual General Meeting Today

Fiji Sugar Corporation will have its first annual general meeting in four years today in Lautoka at 3pm. The AGM will provide the platform for discussion of past three year’s audited financial reports.

FSC executive chairman, Abdul Khan, said they have sent all the annual accounts and other relevant information to all the shareholders for the years 2012 to 2014.

“Our expectation is all the shareholders will be at the AGM at 3pm,” he said.

Government is the biggest shareholder of Fiji Sugar Corporation with 68 per cent shares. Therefore, Government, Fijian Holdings Limited and the Fiji National Provident Fund are the top three shareholders of FSC.

It is followed by the Fiji National Provident Fund and Fijian Holdings Limited as the second and third largest shareholders.

Release of financials

In 2011, FSC had recorded a loss of $36.5 million which, was significantly less than that declared the year prior in 2010 where the loss was in access of $175 million.

Mr Khan said their reason for not releasing the confidential financial information was it could have compromised the position of shareholders, especially the smaller ones.

“So for that reason, we decided not to do that until we had a firm idea of what needed to be done,” he said.

“But now the company is in a better position and the environment is different. Taking that into consideration, we organised the AGM.”

 




Subscribe to E-Edition
pacific island top up
Air Nuigini
Subscribe-to-Newspaper
Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: