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‘Pacific move critical to company’s success

SUVA, Fiji (Fijilive, Oct. 20, 2008) - Fiji-based investment company Fijian Holdings Limited (FHL) has made known its plans to expand its major subsidiaries into the Pacific market in the next three years.

The challenge now was for the group to review its strategies, ensure increased wealth for its shareholders and achieve sustainable returns.

FHL board chairman Isoa Kaloumaira said establishing business ventures in the countries of the region was still very much in the radar.

"We see this as desirable in managing our geographical exposure risk; so when an opportunity presents itself it will be pursued with the usual degree of prudence," he said.

FHL group managing director Sereana Qoro said a number of investments that had not generated the required returns over the years had been recently assessed and were now undergoing the process of divestment where necessary.

This she said would ensure investment funds were put to more economic use for more profitable returns.

"The Pacific move has now become an absolute necessity in order for the Group to maintain and increase shareholders wealth in the future," Qoro said.

"The Holding company will aggressively pursue local and offshore investment opportunities that fall within the FHL investment criteria in the next three years to achieve investment growth and secure sustainable returns."

She said given the high debt level and associated financing cost, the ongoing challenge for management was to strategically plan for investment diversification and growth options that attracted sustainable returns, and at a reasonable overall debt.

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