FHL says there’s no political interference – are u for real Qoro?

Bloggers, this article is taken from FijiLive with Sereana Qoro saying that there is no political interference with FHL. What then happened with the new board takeover with the appointment of Col. Aziz and Padam Lala and others?

Her saying that there is nothing to fear as the Board appointees are not new, referring to Isoa Kaloumaira, conveniently ignores Aziz and Lala!

Her referring to strict guidelines and there is nothing they can do outside these guidelines simply does not stand because this illegal junta has proven over and over that they don’t care too much about the law when it comes to wanting their objective met.

SV does not belittle Isoa Kaloumaira and Sereana Qoro’s qualifications and capabilities, but questions the transparency and legaility of their appointments by the illegal junta via so-called Class B Shareholders.

Surely, they cannot believe their reputations will not be tarnished in accepting their appointments in light of the mass resignations of FHL Board Members and FHL subsidiary Board Members?

What do you think bloggers?

26 JUN 2008

Fijian Holdings Limited (FHL) group general manager Sereana Qoro has assured there is no political interference in the dealings of the locally-owned investment company because it is heavily regulated.Qoro said the operations of FHL operated under very strict guidelines as a publicly listed company and operated in accordance to rules and regulations governed by the South Pacific Stock Exchange (SPSE), Capital Markets Development Authority (CMDA) and the Reserve Bank of Fiji (RBF).

She said there was no chance for political interference because the company had to comply with other requirements of other regulatory bodies.

Questions were raised on just how independent the operations of Fijian Holdings would be after sudden changes were made by the interim Government on the board of the investment company with no consultation with the shareholders, in particular Class A shareholders.

“FHL is a publicly listed company so there is no chance for political interference. We operate with very strict rules and guidelines that dictate how we operate,” Qoro told Fijilive.

She said announcement were made to shareholders via the Stock Exchange.

“The protection of shareholders at FHL is paramount. FHL’s operations are heavily supervised (by the SPSE, CMDA and RBF) as a publicly-listed company for the protection of shareholders,” she explained.

“If there is some fear out there in the public, there’s no ground for that because the people (appointed) in the board are not new. The chairman for instance (Isoa Kaloumaira) has been there for the last nine years,” she said.

Qoro revealed to Fijilive that she is part of FHL’s succession plan, a strategic plan that has her on the top of the list as a contender for the group general manager’s position at FHL.

Qoro manages two fairly large subsidiaries of FHL – Fiji Industries Ltd (cement factory in Lami) and Basic Industries Ltd, which includes Hume Industries in Lami and Standard Concrete Industries around Fiji.

FHL owns 50.1 per cent of Fiji Industries Ltd and 51.1 per cent of Basic Industries Ltd.

“So these appointments, including my appointment is strategic in a way in that recruitments are done within FHL for that very reason,” she said.

“So, as you can see, we can’t unilaterally do anything. These companies have its own articles of association, their own rules.”

As for the appointment of the new Merchant Finance and Investment Company, Qoro said” We’re going into the market for a replacement and we will be engaging KPMG (chartered accountants) for that”.

“As I have said earlier, there will be no change in our strategic direction with the change in our management and the growth we have achieved in the lat 24 years, we’re moving forward to ensure we grow that even more into the future,” she said.



18 Responses to “FHL says there’s no political interference – are u for real Qoro?”

  1. Keep The Faith Says:

    Get a grip lady. No one cares that you were in the Succession Plan. In fact you were probably in line AFTER Jaoji.

    Internal HR information like that is not normally for public consumption and you’ve just shown via your first press statement as defacto Head of FHL, why you’re probably not fit for this role.

    Did Taufa put you up to this? Because you have many things in common.

    You better start wishing that your kids don’t get kicked out of Australia.

  2. Pusiloa Says:

    Sa tekivu mera yacoyaco mai na dosi qo. Brace yourself Fiji for swamp for Indian Labourers…..Chinese are here already….

    TFL signs $7m deal with Indian firm
    26 JUN 2008

    Domestic telephone provider, Telecom Fiji Ltd has signed a $7.6 million deal with an Indian company Tech Mahindra, Indian web portal for India News, Sify Business reported today.

    Under this agreement, Tech Mahindra will implement a transformation programme for Telecom Fiji in the OSS/BSS domain for a period of 18 months

    This 18-month engagement is for replacing TFL`s technology systems to make it more agile in order to take on competition in Fiji’s recently deregulated telecom market, Taito Tabaleka, group acting chief executive officer told Business Line.

    “Tech Mahindra will replace Telecom Fiji’s IT systems, billing systems and look at the prospects of outsourcing its billing requirements to other telecom carriers,” said Tabaleka.

    Until last year, the company had the exclusive licence to provide domestic voice and data services, while Vodafone Fiji — a joint venture between Vodafone and Telecom Fiji’s holding company — has been the sole provider of mobile services. Fiji’s telecommunications sector was deregulated on November 8, 2007.

    It is believed that the Venezuela-based Digitel GSM is also keen to enter Fiji.

    Tech Mahindra has also signed a $24m retail transformation deal with Telecom New Zealand.

    Separately, ATH is in talks with Indian IT companies for partnering its call centre business, said Howard Politini, deputy chairman, ATH.

    “Ninety-nine per cent of Fiji’s population speaks English, which could be a boon for any back office-oriented industry,” said Politini.

    Moreover, Fiji has the same time zone advantage to countries such as Australia, New Zealand and parts of South Asia, which can be leveraged for serving clients.

    Both Politini and Tabaleka are still away in India.

    TFL said it would issue a statement soon.

  3. Mark Manning Says:

    And I’m a flying saucer !

  4. tosotiko Says:

    Poo Hoo., Sereana Qoro. You were in every dictator’s succession plan, wherever you go. Always convenient – to tow the line. Watch FHL crash, bloggers. But for the sake of its Fijian shareholders, I wish it continues its success. It will be, because of the great work done by its visionary pioneering team especially LQ – their great work will carry the company through even now.

  5. Mark Manning Says:

    Does anyone know what happened to the Vehicle Manufacturing plant and Movie making industries which were to be set up in Fiji ?

  6. natewaprince Says:

    If this regime is blatantly interfering with this country’s constitution,what makes her think they will stop at interfering in this Fijian Company.The current situation is proof that it already has.

    Get real lady,are’nt you ashamed of being a Fijian with what this regime is doing to your kind??

  7. Mrs Prince Says:

    Is she just dumb, or is she just dumb! No political interference, my arse!

  8. Mark Manning Says:

    Is M Beddoes the only Politician in Fiji with balls ?

  9. tim Says:

    Do you reckon she actually believes what she says?

  10. Debt Collector Says:

    Sereana Qoro remember you were so broke you could hardly pay the truck loan to Merchant Finance in the early 1990s. Yeah the one your husband was driving to earn a living???

  11. Jose Says:

    @ MM. What has M. Beddoes done to have balls other then what he already has? In reality he has only made a few bold statements that has got no where. Compare that with Mark Latham of Australia. Fly by night leader of the opposition to John Howard who only became really significant after making statements like “George Bush. The most incompetent president in living memory.” Action speaks louder then words. The world knows what happened to him at the general election of that time. Regardless of his increasing popularity on the surveys, he quit because he got demolished by the Coalition. He didn’t have new balls after all, just the ones he already has.

  12. Mark Manning Says:

    by speaking out , he is risking being abductered , tortured , raped and murdered by the military isn’t he ?
    I think it’s pretty courageous to be there and speaking out and saying what he is , under those circumstances , don’t you . He isn’t hiding on the net like us !

  13. Jose Says:

    @ MM. I do agree with you there but what’s the point when the end result is zero

  14. Mark Manning Says:

    maybe his words will give inspiration to others to take a stand or at least to open their minds and know that someone reasonably educated , has differing views to the Commander and his band of gay followers , bno offence to the gays !

  15. FijiGirl Says:

    Vinaka Pramesh Sharma for being a real man, a true son of Fiji, and resigning his position.

    I’m not saying his action was in protest to the IR’s sabotage of FHL, but there is definitely a message in his resignation.

    Tabu soro
    God bless Fiji

  16. Budhau Says:

    Good one FijiGirl – now if only half of the Fijian civil service could do the same – guess what will happen to the military regime.

    Pramesh Sharma – what was a Indian doing in position of power under SDL – maybe he was planted there by the chodo man.

  17. Click Here Says:

    Click Here…

    Cool Beans. After reading your blog I now understand “currencies trading”. Thank For the great post!…

  18. FRANK CURSER Says:

    Budhau you’re a sucker!! That Pramesh guy at Merchant Finance was the guy contributing all the cookies to FHL!! He would have left to maintain his principal and intergrity!!!

    As for Sereana….well she preaches as if God speaks to her daily!!!! What goes around comes around. It seems she instigated the takeover to promote herself and her cronies!!!

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