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Vision Investments Expands Into Papua New Guinea With Vision Homecentres

Vision Investments Limited is expanding operations into the Papua New Guinea market. The company has incorporated a fully-owned subsidiary in Papua New Guinea under the name  Vision Homecentres Limited. This
27 Dec 2016 11:00
Vision Investments Expands Into Papua New Guinea With Vision Homecentres

Vision Investments Limited is expanding operations into the Papua New Guinea market.

The company has incorporated a fully-owned subsidiary in Papua New Guinea under the name  Vision Homecentres Limited.

This is after obtaining the requisite approvals from the Reserve Bank of Fiji.

The move is in line with the company’s objectives to expand operations into regional markets.

In a statement released through the South Pacific Stock Exchange, the company said: “Vision Homecentres Limited will carry out business operations in PNG.

“A long term lease was signed to secure a retail premises in a highly preferred retailing complex in Waigani, PNG.”

It confirmed the premises will undergo renovations and it is anticipated business operations will commence no later than February.

Vision Investments said: “PNG is currently experiencing certain economic challenges.

“The company believes this situation is a cyclical phenomena and the medium term prospects for PNG remain positive and buoyant.

“This is considering the proposed large investments in the pipeline, particularly in the energy sector.”

Feedback:  rachnal@fijisun.com.fj

 

 

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