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$1.2 Million Profit For Methodist Church Trust In 2018

The improved results were a result of the fair value revaluation of some of the trust’s properties which increased substantially, said trust chairperson Ratu Peni Volavola.
23 Aug 2019 12:35
$1.2 Million Profit For Methodist Church Trust In 2018
Methodist Church of Fiji and Rotuma Vice President Ratu Peni Volavola (left) with Laisenia Qarase during the Conferece at Centenary Church on August 22, 2019. Photo: Ronald Kumar.

The Methodist Church in Fiji Holding Trust recorded an operating profit of $1,235,706 in 2018, compared with an operating loss of $218,703 the previous year.

It was announced during the 55th Annual Methodist Church in Fiji Conference (Bose Ko Viti) yesterday.

The improved results were a result of the fair value revaluation of some of the trust’s properties which increased substantially, said trust chairperson Ratu Peni Volavola.

“It was this that lifted the audited report after tax to $12,360,706.”

He said the trust was the governing body of their new business enterprise.

Additionally, Ratu Peni said: “Income from leasing, selling or developing property will be allocated to supporting teaching and training programmes of the church including the promotion of spiritual principles and Methodist doctrines.

“We envisage funding to encourage good citizenship and advancement of social, cultural and community activities.”

“Income revenue funds are applied to financial assistance for the Methodist Church in Fiji.

“These funds will pay the annual management fee of Lako Yani Management Pte Limited, the company responsible for management and operations.”

Ratu Peni Volavola, Laisenia Qarase and Sereana Qoro, the general manager for of Lako Yani Management Pte Limited, for paving the way for the church into the commercial world.

Edited by Ranoba Baoa

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