FIJI SUGAR CORPORATION POSTPONES NEW HEADQUARTERS

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As losses pile up, can’t justify flashy building

SUVA, Fiji (Fiji Times, Oct. 29, 2009) - The building of the Fiji Sugar Corporation’s proposed FJ$2.7 million [US$1.4 million] headquarters complex has been deferred indefinitely.

Corporation chairman Gautam Ramswarup said that it would be totally inappropriate to build a complex given the corporation’s current financial situation.

"In view of our current financial position, we can hardly go and put up a flashy building," he said.

"The building of our headquarters is being deferred indefinitely."

In September last year, the corporation decided to save the thousands of dollars it was spending on rent by having its own headquarters.

The headquarters when completed was supposed to be the first for the company since it was established in 1973.

Then corporation chairman Bhoo Gautam said the FJ$2.7 million complex would be completed within 10 months.

Mr. Gautam said the concept of the new headquarters was decided in 2005.

He said the project was spearheaded by director Marika Gaunavou and chief executive officer Deo Saran.

Gautam said the new complex would not only save them rental expenses but also generate additional income. "We will also rent out the complex," he said.

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