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INVESTMENT: FHL Invests $63 Million During Past 3 Years

During last three years, Fijian Holdings Group has invested more than $63 million in to new properties, plants and equipment. During the current financial year ending June 2017, FHL Group
25 Jul 2017 11:05
INVESTMENT: FHL Invests $63 Million During Past 3 Years
Fijian Holdings Limited (FHL)

During last three years, Fijian Holdings Group has invested more than $63 million in to new properties, plants and equipment.

During the current financial year ending June 2017, FHL Group has invested $35.87 million in acquiring assets compared to an amount of 12.73 million invested in the previous financial year. It was $15.33 million during the financial year 2014/15. Overall the total investments for the three years have exceeded $63 million. Adrian Sofield, FHL Group Chairman says, “When we are bullish about the economy, it is important to invest. This is the right time.”

During the current financial year, group invested in two new vessels for South Sea Cruises Ltd at a cost of $14 million followed by new equipment worth $6 million for Life Cinema Ltd, $5 million worth of equipment for Basic Industries Ltd and building developments more than $2 million during the financial year.

Group Chief Executive Nouzab Fareed says that the group companies continue to invest with the optimism.

“The more we make productive investments, the more we gain in the coming years,” he added further.

SOURCE: SPSE

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