Monday, July 11, 2011

FICAC Ordered by Khaiyum not to Investigate Raivoce Claims About FHL

Posted on Raw Fiji News - 11 July 2011


FICAC ordered by Aiyaz Khaiyum not to investigate FHL

Struggling unknown lawyer and new regime appointed Chairman of FHL Carl Ngmoki-Cameron
A follow up on Fijian Holdings Limited shareholder, Sakiusa Raivoce’s letter of complaint to Fiji Islands Commission Against Corruption (FICAC), requesting an investigation into that publicly listed indigenous Fijian owned company reveal that FICAC has discriminated Raivoce by refusing to action his request.
Raivoce’s letter of complaint dated July 28th, 2009 was the catalyst for the removal of FHL’s regime appointed Chairman, Isoa Kaloumaira, it’s deputy Chairman, Colonel Aziz Mohammed, CEO Sereana Qoro and some other key Board members and executive staff.
So how does FICAC  choose which complaint to investigate and which ones to avoid?
Sources within FICAC say verbal orders from Aiyaz Sayed Kaiyum are often received on which cases to investigate or otherwise.
Unfortunately for Raivoce, his has been identified by Aiyaz as a “no touch” case even-though the concerns he raised have been proven true based on the public announcements made by FHL itself to the South Pacific Stock Exchange where they are listed.
How long will Aiyaz Khaiyum continue to deny Raivoce of a fair court hearing and why is he so prejudicial against Raivoce’s genuine concerns?
Below are previous threads we posted on Raivoce’s case:
In a letter submitted to Fiji’s anti-corruption unit FICAC by FHL shareholder, Sakiusa Raivoce in July 28th, 2009 , he verily persuaded FICAC to launch an investigation into the affairs of FHL soon after it was announced that more than $3.7million has been wasted by the FHL board in its failed BP Oil deal.
It seems that Colonel Raivoce is a no-nonsense kinda guy not afraid to stand up to the junta appointed FHL board to safe-guard his investment there.
So where exactly are things at with FICAC’s investigation on FHL?
We’ve been told that sweet bugger all has been done by FICAC, eventhough millions of dollars have already been lost in a doomed deal the FHL board was warned not to touch by its shareholders.
Perhaps blogger josycam’s response to our previous post on Raivoce’s letter to FICAC’s makes a lot of sense.
josycam said
Where are we heading, FICAC is not an independent body anymore. A genuine concern has been raised here that require FICAC to investigate but instead, they investigate the complainant.
It is no use reporting a case to the FICAC or the Police because we have got a officials, police & Judiciary who is hell bent on producing pro IG verdicts otherwise a kick in the ass.
I quote Bainimarama’s word to the soldiers “Na noda saga me lako na noda vanua ena dua na i tuvatuva vinaka”. Is this a tuvatuva vinaka or it is just oppressing the ordinary citizens when they are noticing a tuvatuva ca that is going on.
The soldiers and the current ministers and PS and commisioners are just an example of people who had been hood winked into the clean up campaign or the Tuvatuva vinaka but they had been blinded by the 30 pieces of silver or the dangling carrots. Bainimarama said that the Military will not benefit from this coup but we can see that the Military Officers are filling up the vacant civil service position and making it a military service position. What a rot?
Those who benefit from this campaign will not let go and they are prepared to loose their dignity for the 30 pieces of silver.
God bless Fiji.
Tuvatuva vinaka by making people redundant from their work and no money to feed their families and the increasing the rate of crime from unemployment.
We said back then in our August 10th post – this is the letter believed to have gotten Sakiusa Raivoce into trouble. We were able to, through our sources, verify and confirm with FICAC that this is a true copy of the letter sent to them by Raivoce.
It is understood that Raivoce was arrested under the instruction of Col Aziz Mohammed, deputy chairman of Fijian Holdings, in cohorts with Police Commish Teleni.
No official charges was laid on Raivoce even-though he was detained in a cell for two nights.
Tuesday, 28th July, 2009.

Mr George Langman,
Deputy Commissioner,
Fiji Independent Commission Against Corruption,
Cnr. of Kimberly St and Gordon St,
SUVA.
Dear Sir,
RE – APPEAL FOR AN INVESTIGATION INTO THE TERMINATED FHL/BP SOUTHWEST PACIFIC ACQUISITION
This letter serves to advise you that I, Sakiusa Raivoce, a citizen of the Republic of Fiji, and a Class A shareholder of Fijian Holdings Limited (FHL), wish to lodge an official complaint against FHL’s current board and senior executives for the following reasons:
  1. the non-tradability of my (and other shareholders) FHL shares due to the recent suspension of FHL as per South Pacific Stock Exchange announcement on Monday, 27th July, 2009,
  2. the board’s defiance not to heed mine and other shareholders (provincial councils and others) public warnings on their rushed decision to sign the now terminated $190 million sale and purchase agreement with BP South West Pacific (BP SWP) without proper due diligence,
  3. for gross negligence, incompetence, failing to protect mine and other shareholders best investment interest and other breaches of duty of care as required of board of directors under FHL’s Memorandum and Articles of Association, in conformity with the company’s corporate governance requirements and Fiji’s Companies Act.
Consistent with your organization’s previous investigations into FHL, I urge FICAC to apply the same level of enthusiasm and urgency in instigating a thorough investigation into FHL’s :
  1. basis of the FHL/BP SWP terminated sale and purchase agreement,
  2. associated costs relating to the terminated acquisition such as management fees to the Hindustani Petroleum Company, legal fees, financial advisory fees, non-refundable component of the deposits , other professional or consultancy fees, travel expenses and all  other similar costs incurred during the due diligence process,
  3. adherence or non-adherence to FHL’s corporate governance requirements,
  4. other matters relating to FHL’s operations that has greatly disadvantaged me and other FHL shareholders in the short, medium and long term.
Sir, I’m on record as the outspoken FHL individual shareholder who publicly denounced FHL board’s decision to embark on their bid to buy BP SWP.
My life and that of my family, including our personal properties, was attacked by unknown persons following my interviews on TV, radio and daily newspapers where I publicly announced my grave concerns on the apparent lack of good commercial sense by the FHL board, in signing a sale and purchase agreement without first securing a financier to fund the $190 million they offered to BP SWP.
Now that the acquisition has been terminated, I believe it is only appropriate that FICAC immediately conduct an investigation into FHL’s affairs to protect shareholders interest.
Sir, I look forward to your prompt action to the above matter.
Yours Sincerely,
Signed by
SAKIUSA RAIVOCE
(FHL Shareholder)
__________________________________________________________

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