Monday, July 06, 2009

Fiji Suffering Worsens

Revelations from Fiji’s building sector today reveal that Fiji is without cement. Seems like Fiji’s cement manufacturer, Fijian Holdings Limited, is unfortunately too busy trying to hide their bull that they’ve forgotten to produce cement. One can only hope that cement manufacturing was not abruptly stopped by FHL due to their overseas suppliers refusal to deliver imported raw materials supplies for fear of FHL’s inability to pay them. FHL’s worsening state of affairs is snowballing and picking up speed. And cement shortage in Fiji is most definitely a good indicator on what’s ahead for Fiji’s cement producer – no cement, no money! God help FHL!
Posted by rawfijinews
It seems that Colonel Aziz Mohammed and Sereana Qoro are at great odds with each other these days. FHL board directors our sources spoke to say that Aziz and Sereana are involved in a scratchy cat fight. They are clawing each other to death with both demanding separate meetings with coupster Frank Bainamarama to tell on one another. Childish?
Damn yeah! And so the finger-pointing and blaming game has started at FHL.
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BP South West Pacific can not be blamed for wanting the FHL appointed Hindustani Petroleum management team out of their Suva based head office. For starters, FHL has defaulted in meeting their sale and purchase deadline not once, twice but three times. BP must be finding these Hindustani gang annoying given that they were planted in there by FHL to take over operations from BP. The Hindustani gang would obviously have access to confidential information regarding BP South West Pacific operations. But now that FHL is heading towards being delisted from Fiji’s South Pacific Stock Exchange, BP could very well say that enough is enough sending all those Hindustani Petroleum staffers packing and will kick them outta there.
Who knows, they might start squatting at the FHL boardroom for a few days before heading back to India.
The inevitable is happening at Fijian Holdings Limited. It’s cash cow Merchant Finance is also running low on cash. So much so that employees complained about not getting paid in their last pay day. Employees say its CEO, Freddie Keshwan, the $400,000 per annum guy, had to delay salary payment as there was no cash in the bank. These employees said that never in the history of Merchant Finance has non payment of salary ever been a issue ’til now when Merchant Finance was placed under the military appointed board and management including Sereana Qoro, Aziz Mohammed, Freddie Keshwan.
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Minority shareholders of FHL should exhaust all avenues available to them if they are serious in protecting their investment in FHL. To test the independence of FICAC from the regime and their military appointed FHL board, individual shareholder(s) should simply write to FICAC to officially lodge their complaints and concerns with them. There is no doubt that parallel investigations will be running simultaneously by CMDA and SPSE but FHL shareholders must learn to fight for their own rights by building on their case via FICAC, CMDA, SPSE etc. All their findings should help shareholders when they finally present their own case in court against all individuals (board directors, management, consultants, auditors, Frank Bainimarama & Co.) who helped sink titanic FHL.
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Fiji’s Capital Market Authority and South Pacific Stock Exchange should spearheard their own investigations into FHL. FHL board and management have no doubt exhibited non-compliance of important rules and regulations governing publicly listed companies operational conduct.
They have unashamedly displayed their cunning ploy to hide their failed attempts to secure financing for their BP venture. And in doing so, they have lied to the public and shareholders with their many broken promises in closing the deal. CMDA and SPSE in the meantime should suspend FHL stock from trading on the floor while they carry out their own independent investigation. FHL must not be allowed to bastardise nor personalise Fiji’s capital market standards based on their internal bickering. Fiji’s capital market is bigger and more important than FHL. FHL board must be reprimanded for not towing the line!
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We say – FBCL sounds like sour grapes! Fraud suspects can travel overseas, screams Fiji Broadcasting Corporation. Former Fiji Broadcasting Corporation Limited Chairman Daniel Whippy and his deputy Champak Kapadia who both earlier in the year denied charges of fraud laid against them by FICAC, were given permission this morning by the Suva Magistrates Court to travel overseas. Both were charged with one count each of obtaining money by false pretense. FICAC alleges that Whippy and Kapadia on 19TH of March 2004 – with intent to defraud – procured the offer of an advance of $1,030,000 from Westpac Banking Corporation for the Fiji Broadcasting Corporation Limited (FBCL), on the basis of a fictitious resolution. Kapadia’s lawyer Hemandra Nagin says his client needs to travel overseas and asked the court if he could do so. State Prosecutor Aca Rayawa objected to the accused traveling overseas and asked the court that certain conditions be put in place for his travel. Magistrate Ajmal Khan ordered the two to advise the court registry and FICAC whenever they travel overseas and when they return.The Matter is adjourned for mention on the 3rd of August.Fiji Broadcasting Corporation LTD
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We say – FHL and South Pacific Stock Exchange owe it to the public, in particular, FHL shareholders to explain in detail what the investigation was all about and its findings. Again, FHL is a publicly listed company demanding that all major issues which could adversely affect shareholders interest must be made public and transparently by FHL and SPSE. Loss of millions in FHL must not be taken lightly. All relevant authorities including CMDA and SPSE have fiduciary duties which they will one day be answerable for. Will they be able to tell FHL shareholders the truth where their millions have been spent? They can’t claim they weren’t told about FHL’s disaster ready to happen. Read FHL’s latest statement here http://www.spse.com.fj/publish/_comp_announce.shtml#4057
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Next weekend’s Fasting and Prayer Conference at the Trade Winds includes meals.Sunday morning sermon: ‘Jesus Walks on the Water’. Sunday evening sermon: ‘Searching for Jesus.’Ladies, don’t forget the rummage sale. It’s a chance to get rid of those things not worth keeping around the house. Bring your husbands.Remember in prayer the many who are sick of our community. Smile at those who are hard to love. Say “Hell” to those who doesn’t care much about our society.Don’t let worry kill you off – let my Church help.Mrs Teleni sang ‘I will not pass this way again,’ giving obvious pleasure to the male congregation.For those of you who have children and don’t know it, we have a nursery downstairs.Next Thursday there will be tryouts for the choir. They need all the help they can get.Those that were married recently in the new church feel free to sperate. So ends friendships that began in their school days.At the evening service tonight, the sermon topic will be ‘What Is Hell?’ Come early and listen to find out.Eight new choir robes are currently needed due to the addition of new members and the departure of the many that are not satisfied.Scouts are saving aluminium cans, bottles and other items to be recycled. Proceeds will be used to cripple children and send them back on the streets.Please place your donation in the envelope along with the deceased person you want to go to Hell.The church will host an evening of fine dining, super entertainment and gracious hostility.Lovo Sunday at 5:00 PM – prayer and siesta with partners to follow.The ladies of the Church have cast off clothing of every kind. They may be seen in the basement on Friday afternoon.This evening at 7 PM there will be a hymn singing in the park across from the Church. Bring a blanket and come prepared to sin.The pastor would appreciate it if the ladies of the Congregation would lend him their belongings for the dress up and good play next Sunday.Low Self Esteem Support Group will meet Thursday at 7pm for more enhancement.The school drama group will be presenting Shakespeare’s Hamlet in the Church hall on Friday at 7 PM. The congregation is invited to attend this tragedy.Weight Watchers will meet at 7 PM at the First Presbyterian Church. Please use large double door at the side entrance.The Associate Minister unveiled the church’s new campaign slogan last Sunday: We want ownership of this nation – Up yours!
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Amazing how tyrant Frank Bainimarama and his advisors are manipulating Fiji’s South Pacific Stock Exchange through one of its listed companies, Fijian Holdings Limited. In an attempt to hide the multi-million dollars stuff up at FHL, Frank & Co. decided to suspend FHL’s top three personnel, its chairman Isoa Kaloumaira, deputy chairman Colonel Aziz Mohammed and Managing Director Sereana Qoro. Contradicting statements were released by FHL and the regime. FHL, in a South Pacific Stock Exchange announcement stated that Isoa, Aziz and Sereana were suspended. While Isoa and Sereana’s names were clearly highlighted in FHL’s statement, Aziz was only referred to as the Deputy Chairman and one of the three suspended.
Junta spokesman, Leweni, came out today on FM96 radio to defend Colonel Aziz Mohammed saying that only Isoa and Sereana were the ones suspended and not Aziz Mohammed contradicting FHL’s own statement. This afternoon, another radio station led by Riyaz Khaiyum is broadcasting that Frank Bainimarama has re-instated Isoa and Sereana. Sources from within say Franks’ right hand cherry told Riyaz to immediately air the reinstatement story on their network, in particular the Fijian radio stations, as part of their damage control plan. It was an urgent announcement Frank Bainimarama needed to hear before he boarded his flight to Vanuatu for that Melanesian Spearhead meeting. So where is South Pacific Stock Exchange and Capital Markets Development Authority in all these? What have they done to protect Fiji’s capital market and FHL’s shareholders while its board and the regime pussy foot around them?
Where are the capital market’s rules and regulation that should provide the safety net for Fiji’s capital market players? Why are matters relating to publicly listed FHL casuallly announced by the regime and not through the South Pacific Stock Exchange as required by law?
Where is South Pacific Stock Exchange governance and transparency? Shame on SPSE and CMDA for doing sweet eff all when they are most needed! South Pacific Stock Exchange should change its name to Frank Bainimarama’s Stock Exchange since they are powerless to stop him from turning SPSE into a junk stock exchange.
Posted by rawfijinews
Melanesian leaders should learn to follow the rule of law. And that means not entertaining coupmakers like Fiji’s Frank Bainimarama. There is nothing glorious in promoting lawbreaking power hungry self-serving usurpers who don’t respect the rights of their fellow men. These Melanesian leaders had better remember that they simply can’t depend on their melanesian brotherhood for their survival, particularly when members of their brotherhood have committed indescribable treasonous and human rights violation acts on their fellow citizens. Melanesian people are more aware and sophisticated these days and they can not be easily fooled by corrupt leaders.
Melanesian indigenous Fijians know Frank Bainimarama is bad karma to them. They know Frank is only there for himself and his supporters. They also know that Frank and his group of thieves are running on a desperate mode right now as they begin to drown in their own corrupt practices and lies. Quite frankly, we’re not particularly interested in the outcome of that Melanesian spearhead group – they’re soiled with the presence of that stinking parasite Frank Bainimarama. And we doubt they can derail the international community’s no-nonsense stand on Frank & Co.
Posted by rawfijinews
The game plan behind no-school Frank Bainimarama’s “roadmap to nowhere” is easy to see.
In his “strategic framework” speech the dictator deliberately put the drafting of a new constitution on hold for three years. First, it’s a means to consolidate his power. Second, it was a ploy to enable him in the future to blame nations such as Australia and New Zealand for not helping Fiji. He knew all too well that the governments of Australia and New Zealand would not accept his five-year timeline, particularly if it included a three-year wait before work started on a new constitution. Yet by making a call for engagement and re-engagement with our traditional international partners, the dictator was clearly hoping those countries might reverse their position and accept his terms. But such crude gambit was never going to work. For one thing, member nations of the Pacific Forum are not going to easily forget their bitter experience of Frank Bainimarama making solemn promises and then going back on his word. For another, the wider international community, including the European Union, the United States the Pacific Forum and the Commonwealth, are at one in their insistence that Fiji must have elections sooner, rather than later. In a word, the dictator’s game plan is a failure, which leaves him even further isolated from much-needed sources of financial support. Unfortunately for us, the people of Fiji, we are condemned to share that isolation with him. We are the innocent hostages of a dangerous fool.
Fiji Democracy Now
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Fiji’s leading women’s advocacy group says a new interim government endorsed womens group will not take the place of existing institutions. In a statement, Fiji’s interim government says the new “Fiji Womens Federation” will be the advocate for, and representative of, women’s rights in the country. The coordinator of one the longest serving women rights groups, the Fiji Womens Crisis Centre, Shamima Ali, say previous governments have tried and failed to create something similar. “Often these things have fallen by the wayside because of lack of funding, lack of the political will in government,” she said. The interim government says the membership of the federation will be made up of women’s non government organisations, which meet a set criteria.
But no detail of what that criteria is has been made public. Ms Ali’s says the federation’s creation won’t mean groups like the Crisis Centre, vocal critics of the interim government, will be sidelined

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