SUNBIZ

Make SPX More Attractive: Yazbek

‘Companies list to access capital markets, but that is not the case in Fiji’
22 Jul 2022 13:09
Make SPX More Attractive: Yazbek
ANZ country head, Rabih Yazbek speaker at a post Budget forum, at the Reserve Bank of Fiji, earlier this week.

The South Pacific Stock Exchange (SPX) needs to be more investor-friendly, a regional bank has said.

ANZ country head, Rabih Yazbek, made the comment during a post Budget forum at the Reserve Bank of Fiji in Suva.

He said SPX needed to be more attractive, more competitive, and compelling.

Mr Yazbek said the South Pacific Foreign Exchange was not attractive as listed entities had to pay for legal fees as certain countries.

“I do not know whether the other people notice this, but the concessional tax treatment for companies listed on the South Pacific Foreign Exchange is now capped for seven years,” he said.

“You should be getting 10 percent, rather than the 20 per cent, in tax treatment after seven years has pulled away.”

 

“A lot of corporates that are listed on the South Pacific Foreign Exchange will lose the concessional tax treatment in the financial year.”

“The right way to view this is an opportunity to find out what else we can do to make the South Pacific Foreign Exchange attractive.”

“Companies choose to be listed on the stock exchange to access capital markets.”

“That’s not the case in Fiji today.”

He said most of the funding in Fiji today was through bank debt and private capital.

SunBiz sent queries to South Pacific Stock Exchange yesterday.

 

Feedback: nacanieli@fijisun.com.fj



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