SUNBIZ

SPSE’s 2018 PLANS

The South Pacific Stock Exchange (SPSE) chief executive officer Krishika Narayan will be focusing on increasing the number of company listings on the stock exchange, this year. If she had
17 Jan 2018 11:00
SPSE’s 2018 PLANS
South Pacific Stock Exchange chief executive officer Krishika Narayan.

The South Pacific Stock Exchange (SPSE) chief executive officer Krishika Narayan will be focusing on increasing the number of company listings on the stock exchange, this year.

If she had to reflect back on 2017, she said had no regrets.

She noted 2017 had been a great year of achievements for SPSE.

“We may not have achieved certain goals but it has been more than compensated by other achievements this year!”

One of the prestigious events that they organise is the SPSE Annual Awards.

For Ms Narayan, it is all about recognising the efforts of all those who matter to them, because the stock market cannot progress without the strength and drive of the industry players.

It is very important that the efforts of investors, listed companies, stockbrokers, investment advisors and other stakeholders are recognised.

It is also vital that strong performance and ethical behaviour are rewarded.

These things encourage and enhance the performance of our stakeholders which in turn drive progression for SPSE.

Viewed in this context, the Annual Awards are very much part of developing the stock market.

Below is an extract of an interview with Ms Narayan on her plans for 2018:

 

  1. Can you tell us a bit about your biggest achievements for 2017?

SPSE Annual Awards Women in Leadership Training Programme launch of a standardised Articles of Association template Revamp of SPSE Listing Rules

 

  1. Were all the goals set for 2017 achieved? How was it achieved?

It has been a great year of achievements.

Most if not all goals set for 2017 have been achieved such as more listings.

The market had performed extremely well (average total return of 24 per cent) really showing fruits of increased investor awareness activities.

How – team work (although a small team but an effective team), dedication and support from an efficient board.

 

  1. What were some of the challenges that you faced in 2017?

2017 itself started with a host of challenges with the Fijian Holdings Limited Special General Meeting issue and the change in leadership roles at the SPSE level.

Demand picked up but the same cannot be said for the supply side of things: lack of sellers, lack of products and lack of companies listed meant that although there was a great demand for shares, it did not necessarily translate into trades on the market because there was a lack of shares available.

Working with a small team can also be challenging at times, especially when you have to expect each staff member to put in extra effort over and above their usual work tasks.

 

  1. Can you tell us a bit about your plans for 2018?

Increasing the number of listings on SPSE is the foremost plan.

We plan to engage with a list of targeted companies (including state owned enterprises) and investment advisers to promote SPSE as one of viable options for capital raising.

We will also engage in innovative ways to enhance our investor awareness activities.

While most of the activities engaged in 2017 have worked well, it is time that we take our awareness activities to another level and that we engage and target specific age groups (such as students) and different working sectors (such as public and civil service).

SPSE will be launching a National Essay Competition for high school students early next year in a bid to increase awareness about stock market amongst young people.

This programme is expected to extend in the years to come.

We will be launching the amended SPSE Listing Rules.

Revamping the SPSE website to make it more user friendly.

Actively promoting the services of our wholly owned subsidiary company, Central Share Registry Limited which is the only company in Fiji that provides registry services.

We will be automating our settlement and registry services and start by issuing shareholder statements instead of share certificates.

Endeavour to provide more industry trainings (especially for listed companies and brokers).

 

  1. What would be some of your future long term plans?

My vision for SPSE: that every individual in this country is able to invest in Fiji’s stock market as comfortably as they are able to deposit money in a bank.

 

  1. Anything else you would like to say?

I would like to take this opportunity to wish all our investors, listed companies, stockbrokers, investment advisers, regulators and media partners a very enjoyable festive season and I look forward to working with you all in 2018!

Feedback:  maraia.vula@fijisun.com.fj

Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper