CONTINGENT LIABILITIES

In the opinion of the directors, no loss is anticipated in respect of the above contingent liabilities. The company has provided letters of support to four of its subsidiaries, South Sea Cruises Limited, Basic Industries (PNG) Limited, Fiji Television Limited and FHL Logistics Limited, undertaking that in the next 12...

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EARNINGS PER SHARE

The calculation of earnings per share at 30 June 2015 was based on the profit attributable to ordinary shareholders of $10,652,000 (2014: $8,338,000) and a weighted average number of ordinary shares outstanding of 30,465,000 (2014: 30,465,000), calculated as follows:

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OPERATING LEASES

Operating lease commitments The group has a number of lease agreements with varying terms and conditions.  The future aggregated minimum lease payments under these leases are as follows: The subsidiary company, Fiji Television Limited entered into a new satellite services agreement in the previous financial year. At inception of the...

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RESERVES

Available for sale reserve Available for sale reserve consists of unrealised gains or losses arising from changes in the fair value of non-monetary investments classified as available-for-sale financial assets. Credit loss reserve The Credit Loss Reserve relates to Merchant Finance & Investment Company Limited in accordance with the requirements of...

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SHARE CAPITAL

The company’s ordinary ‘A’ class shares are listed on the Restricted Board of the South Pacific Stock Exchange. The i Taukei Affairs Board and the i Taukei Trust Fund (formerly Fijian Trust Fund) each hold 10 million of the company’s “B” class ordinary shares of $1 each. All ordinary shares...

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Investment & Strategy Sub-Commitee Report

The Investment and Strategy committee is responsible for assisting the Board in fulfilling its oversight responsibility for the investment and strategic goals of the Company. It is also responsible for formulating the overall investment policies, and establishing investment guidelines in furtherance of those policies. The Committee monitors the management of...

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BORROWINGS

(a). The bank overdraft and stand by facilities of the subsidiary companies with ANZ Bank is secured by registered equitable mortgages over all the assets and undertakings of the companies, including uncalled and unpaid capital of the respective companies. The bank overdraft (together with the letter of credit and guarantee...

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