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Vinod Patel Signs Up With Unit Trust Of Fiji’s Employee Investment Scheme

UTOF has an investment portfolio in excess of $242 million with a strong investor base of 22,760 including more than 4,753 young investors from various schools.
11 Jan 2021 14:13
Vinod Patel Signs Up With Unit Trust Of Fiji’s Employee Investment Scheme
From left: Unit Trust of Fiji Regional General Manager Sakiusa Bolaira, Vinod Patel & Co Pte Limited Group Manager HR, Governance & Corporate Affairs Latileta Qoro, Unit Trust of Fiji chief executive officer Vilash Chand, Vinod Patel & Co Pte Limited chief executive officer Rahul Amin, Vinod Patel & Co Pte Limited Director Jiten Patel, Vinod Patel & Co Pte Limited Director Pravin Patel and Unit Trust of Fiji Head of Finance and Investment Mahipriya Meddepola

Vinod Patel & Co Pte Limited  (VPCL) has become the 55th Employee Investment Scheme (EIS) partner with Unit Trust of Fiji (UTOF).

The Memorandum of Agreement between the two companies was signed last Thursday in Suva.

The EIS is part of UTOF’s national financial mobilisation incentive to directly promote savings and investment to working Fijians.

Under this agreement, VPCL will be able to empower their employees to save and invest for their future.

Thus, the EIS will essentially provide a platform for employees to regularly invest their funds through a salary direct deduction arrangement.

 

What the agreement means

With more than 50 years of experience and vast expertise, Vinod Patel & Co. Pte Ltd.

It is a leading company based in the Fiji Islands and is among the largest hardware companies in the South Pacific.

UTOF chief executive officer, Vilash Chand said the agreement would allow VPCL staff members to save up for their future as an additional source of savings and earn tax free dividends apart from superannuation.

Vinod Patel & Co Ltd chief executive officer Rahul Amin said VPCL was proud to provide an additional benefit which is in line with their wellness programme and financial wellbeing of their employees through their association with UTOF.

UTOF has an investment portfolio in excess of $242 million with a strong investor base of 22,760 including more than 4,753 young investors from various schools.

It is one of the major investment institutions in Fiji’s Capital Market with a market share of more than 67 per cent.

Source: Unit Trust of Fiji

Feedbackmaraia.vula@fijisun.com.fj

 


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