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Fareed: Fiji TV rental Issues Sorted

Fiji Television Limited confirmed it has amicably resolved the impasse with its landlord, the Fiji Public Service Credit Union. This followed lengthy negotiations yesterday between Fiji TV and Fiji Public
08 Jun 2016 13:10
Fareed: Fiji TV rental Issues Sorted
Fiji TV

Fiji Television Limited confirmed it has amicably resolved the impasse with its landlord, the Fiji Public Service Credit Union.

This followed lengthy negotiations yesterday between Fiji TV and Fiji Public Service Credit Union brokered by Fijian Holdings Limited Group chief executive, Nouzab Fareed.

Both parties have resolved to come to a commercial agreement moving forward.

Negotiations were attended by Fiji TV chief executive Geoffrey Smith as well as Fiji TV’s Head of Finance Nitesh Chand and Fiji Public Service Credit Union general manager, Jone Koroi.

Mr Fareed said Fiji TV has a business to run and it was best that it focuses on its core business by resolving such operational matters as efficiently as possible.

Mr Koroi said he was also pleased with the outcome of the talks and was glad to continue the long cordial relationship they have enjoyed as a landlord with Fiji TV dating back to 1994.

Fiji Public Service Credit Union had threatened to go to court to file for eviction for Fiji TV out of its premises, Credit Union House, which Fiji TV is using as its headquarters.

This was following dispute over the rental amount where the landlord wanted to increase the rental whilst Fiji TV insisted on getting an independent market assessment done on market price.

Feedback:  rachnal@fijisun.com.fj

 

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