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FHL Plans To Become A Billion Dollar Company In 5-7 Years

  Fijian Holdings Limited wants to become a billion dollar company in the next five to seven years, its chief executive officer Nouzab Fareed says. FHL has investments in tourism,
18 Sep 2018 10:00
FHL Plans To Become A Billion Dollar Company In 5-7 Years
Fijian Holdings Limited Group chief executive officer Nouzab Fareed speaking to Masters of Business Administration students from the Univesity of Oregon in the Unitd States at Life Cinema in Nakasi on September 17, 2018. Photo: Simione Haravanua

 

Fijian Holdings Limited wants to become a billion dollar company in the next five to seven years, its chief executive officer Nouzab Fareed says.

FHL has investments in tourism, finance, retail, building and construction, media, properties and manufacturing.

Its group revenue last year stood at $304.22 million which, according to its 2017 annual report, is the company’s highest yet.

Mr Fareed says he wants FHL to keep growing every year and will “give up” as CEO if the growth ever stopped.

His comments came during a lecture he gave yesterday to visiting management students from the University of Oregon, which is in the United States.

“It is our shareholders’ dream for FHL to become a billion dollar company,” Mr Fareed said.

“Our strategy is very clear: we will continue to grow every year.

“The moment we can’t grow, I will give up as CEO.

“But at this stage I am fairly confident that Fiji is on the right economic trend and there are plenty of areas to invest in.

“Five to seven years and I think you are talking to a billion dollar company (FHL).”

But FHL will likely be beaten to the billion dollar mark by Fiji Airways, a company that earned a revenue of $929 million in 2017.

“I think Fiji Airways will be the first company to achieve billion dollar status,” Mr Fareed said.

“They’re in the right space, their income is in US dollars and it is a passenger-driven business, so I think they will be the first.

“We also want Fiji Airways to become a public company in the near future so we can be a part of its success.”

 

The lecture

Fifty-three students from America’s University of Oregon came to Fiji as part of a tour to the South Pacific.

“It was the first time a group of international students were interested about FHL in detail,” Mr Fareed said.

“Three months ago, the university contacted us and said they are bringing their MBA batch here.

“They were very interested in indigenous ownership and how it is working; how we are successful; and how we are managing the political climate in Fiji.

“It was not just about FHL, they learned a lot about Fiji as well.”

Feedback: sheldon.chanel@fijisun.com.fj

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