News & Stories
News & Announcements
Appointment of Director to Fijian Holdings Limited Board
Fijian Holdings Limited (FHL) is pleased to announce the appointment of Ms. Elenoa Biukoto to its Board of Directors with immediate effect. Ms. Biukoto was nominated by the Ministry of iTaukei Affairs, a major shareholder of FHL and appointed by the FHL Board pursuant to Article 53 of the Company's Articles of Association to fill the casual vacancy arising from the cessation of Mr. Jone Navakamocea's directorship following the expiry of his appointment as Permanent Secretary for the Ministry of iTaukei Affairs. Ms. Biukoto is the Chief Executive Officer of Vodafone Fiji and brings more than 20 years of executive leadership, financial management and corporate governance experience across the telecommunications, banking and professional services sectors. She holds an Executive Master of Business Administration from the University of New South Wales and is a Chartered Accountant and a member of Chartered Accountants Australia and New Zealand (CA ANZ). Welcoming the appointment, FHL Chairman, Mr. Rokoseru Nabalarua, said: "We are pleased to welcome Ms. Biukoto to the FHL Board. Her extensive leadership experience and strong financial expertise will be a valuable addition as we continue to advance FHL's strategic objectives and create long-term value for shareholders."
FHL Declares a Second Interim Dividend
Fijian Holdings Limited ("FHL") is pleased to announce the declaration of the second interim dividend totalling $4.113 million, based on company performance to 31st March 2026. The Board remains mindful of uncertainties arising from ongoing conflicts in the Middle East, which may impact future dividend declarations. Rokoseru Nabalarua, Chairman of the FHL Group, said "the dividend declaration is consistent with the Company's internal dividend policy and reflects the Board's commitment to delivering value to shareholders while maintaining prudent capital management." FHL is cognisant of both the global and domestic operating environment which continue to face uncertainties, including political and economic conditions, international conflicts, inflationary pressures, and broader market volatility. While these factors may affect the outlook for investment returns across sectors, the Board confirms that this interim dividend declaration is supported by the Company's current financial position. The Group will continue to focus on strengthening its investment portfolio, optimising returns, addressing key strategic matters within subsidiaries, and positioning FHL for sustainable long-term growth. In accordance with the SPX listing rules on dividend declaration and payments, the FHL shareholders registry will close on the 22nd April 2026 and the dividend will be paid to shareholders on 30th April 2026.
Fijian Holdings Strengthens Leadership
Fijian Holdings Limited (FHL) announces the following key leadership changes across its subsidiaries. The new appointments are made in support of the FHL Group Strategy and leadership development plans supported by the FHL and Subsidiary Boards of Directors. Josua Satavu - Chief Executive Officer, Pacific Cement Limited (PCL) Mr. Satavu was seconded and appointed as CEO of PCL on 1 February 2026. He joined FHL in 2023 as the Group Manager Investment and has served on multiple FHL subsidiary boards. Mr. Satavu had led the FHL Investment Department to build the Impact Investment Portfolio, co-design the Group Investment Strategies and lead the Merger and Acquisitions Projects. In his new role, he will lead the redesign of PCL's strategy and steer the business through a transformation journey as it constructs its new Cement Manufacturing Plant this year and expected to be fully operational in 2027. Naushad Ali - Chief Executive Officer, Basic Industries Limited (BIL) Mr. Ali was appointed and joined as CEO of BIL in January 2026. He brings 15 years of executive leadership which includes roles such as Deputy Chairperson - Fiji Airports Limited (current), former Chairperson Biosecurity Authority of Fiji, most recently as Chief Financial Officer and Company Secretary for Golden Manufacturing Limited Group. Prior to this, he was the Business Manager at Fulton Hogan Hiways. Within the FHL Group, he also serves as an FHL Subsidiary Board Director. In his new role, he will lead the reset of the BIL Strategy with the Management & Board, and guide the business as it transforms and grows Humes, Standard Concrete and the review of all BIL business units. Angela Waradi - Group Head of Projects & Development, FHL Ms. Waradi joined FHL in December 2025. She comes with over 17 years of experience in civil, structural and industrial engineering across Fiji and the Pacific Islands. Prior to joining the Group, she was the Senior Manager - Strategic Engineering at Fiji Water and had worked as Project Manager and Senior Engineer with leading Engineering firms NRW and Kramer Ausenco. Sidhant Sharma - Group Chief Financial Officer, FHL Mr. Sharma has been appointed Group CFO effective 1 March 2026. Following a dedicated leadership and management development plan, Mr. Sharma had led the Group and FHL Finance Teams in 2025 as the Acting Group Chief Financial Officer. He has been with FHL since 2019 and contributed in FHL's Wholesale Corporate Bond, due diligence in Group Merger & Acquisitions, Split Banking projects and ongoing review of Group Financial Capabilities. Tevita Tuiloa - Group Head of Investment, FHL Mr. Tuiloa has been appointed as Group Head of Investment effective 1 March 2026. He concludes his term as Acting General Manager of FHL Properties Limited (FHLP). As part of the Leadership Development Plans within the Group, Mr. Tuiloa has delivered key strategic priorities which includes the completion & opening of FHL Tower, acquisition of Port Denarau Marina Limited, as RB Patel Board member - listing of Corporate Bonds, FHL Impact Investment and the review of FHLP Operations. Chairman Mr. Rokoseru Nabalarua stated, "These appointments strengthen our Group strategic plan and leadership capability and support the execution of the FHL Group Strategy. We remain focused on disciplined governance, sustainable growth and delivering value to our shareholders." The FHL Board and Management remains committed to continuously building strong leadership, sustainable growth, and delivering long-term value to its stakeholders.
Consolidated FHL Group Results for the Half Year Ended 31 December 2025
The FHL Group's financial performance for the six months ended 31st December 2025 reflected a challenging operating environment, with a general slowdown across its key sectors as well as increasing costs of doing business. Group revenue declined marginally by 1.5% to $207.5m compared to the same period last year. The Group's unaudited profit before tax decreased $34.3m from $37.3m in the comparative period, while the net assets of the Group closed at $429.5m, an increase of $21.7m compared to 30th June 2025. In line with the Group's growth strategy, total assets increased to $965.1m from $917.3m at balance date in June 2025, reflecting continued investment in strategic assets and portfolio growth despite the moderate earnings performance. The half-year results indicate slower contributions from several core subsidiaries across retail, financial services, tourism and media segments, largely influenced by prevailing economic conditions, cautious consumer spending and sector-specific headwinds. Despite the softer earnings outcome, the Group has achieved a number of important strategic milestones during the period. The official opening of the FHL Tower on 31st October 2025 marked a significant achievement for the Group. Progress on impact investment initiatives continues through Nawaibuta Holdings Pte Limited, which commenced groundbreaking in June and has advanced well since, reflecting the Group's focus on its core purpose. Merchant Finance has continued to expand its lending portfolio into new market segments and underserved areas not traditionally serviced by financial institutions, supporting broader economic participation. Basic Industries has invested in a new concrete batching plant and is consolidating its production processes to enhance operational efficiency and cost management. Pacific Cement has progressed discussions to upgrade its existing mill, with vendor negotiations in process, positioning the business for improved productivity and capacity. South Sea Cruises continues to invest in its vessel fleet while actively pursuing opportunities for investment in tourist accommodation within the Yasawa and Mamanuca regions. Meanwhile, RB Patel Group has strengthened its platform for expansion following the successful issuance of its recent corporate bonds, providing additional capital to support future growth. Looking ahead, uncertainties surrounding global trade, commodity price movements, inflationary pressures and domestic demand are expected to continue influencing business confidence and spending patterns. The Group remains focused on strengthening operational efficiency, disciplined cost management and advancing its automation and digital initiatives to enhance long-term resilience. The FHL Board would like to thank the shareholders, management, staff, financiers, and other stakeholders who have contributed to the Group's performance and looks forward to their continued support, as the Group moves into the second half of the financial year with the focus of "Growing into new Frontiers in Pursuit of our Purpose".
Temporary Halt in Pacific Cement Limited's Production
Fijian Holdings Limited (FHL) wishes to advise that its subsidiary, Pacific Cement Limited (PCL), had temporarily ceased cement production in mid-December 2025 due to an issue with the cement mill motor. The works to address the motor issue has been completed with full recommissioning works currently underway this week before we can recommence production. Based on the technical evaluation, the estimated timeframe for completion is approximately one week. Normal supply will resume by next week. In the interim, 40kg General Blend (GB) and General Portland (GP) cement supplies will be temporarily unavailable until the mill resumes production. PCL apologises for this unexpected disruption and assures all its valued customers and stakeholders that every effort is being made to recommence production.
FHL Acquires Additional 23.5% Stake in Port Denarau Marina Limited
Fijian Holdings Limited (FHL) is pleased to announce that it has today acquired an additional 23.5% equity interest in Port Denarau Marina Limited (PDML) from Skeggs Group Limited (Skeggs), following the successful completion of all required regulatory approvals. This acquisition follows the completion of the conditional sale and purchase agreement signed on 3 June 2025. As a result of this transaction, FHL's shareholding in PDML has increased to 51%. This acquisition further strengthens FHL's strategic investment portfolio and the culmination of ongoing discussions with Skeggs and is fully aligned with FHL's long-term investment and growth strategy, particularly within key national economic sectors. Rokoseru Nabalarua, Chairperson of FHL, commented: "This acquisition strengthens FHL's strategic footprint in Denarau, the heart of Fiji's tourism hub, and aligns with the emerging developments in Malolo and the Yasawa Islands. It deepens our long-term exposure to the tourism sector, enhances portfolio alignment with our strategic objectives, and reinforces our commitment to delivering sustainable value for our shareholders." David Skeggs, Director of Skeggs Group Limited, commented: "As part of an internal investment restructure, we have agreed to divest our remaining interest in PDML. We are confident that FHL and FHUT, as long-term institutional investors, will provide stability and support to PDML's continued development. This outcome will benefit all stakeholders, staff, customers, and fellow shareholders." PDML will continue to operate in the ordinary course of business, with the PDML Board providing ongoing strategic direction and governance oversight for the company. To support continuity and an orderly transition, a representative of Skeggs Group Limited will remain on the PDML Board following completion of the acquisition with no changes to the Independent Directors who are appointed at the Annual General Meeting.
Payment of Wholesale Corporate Bonds at Maturity
Fijian Holdings Limited ("FHL") is pleased to announce that it has paid down $15.2 million in wholesale corporate bonds that matured on 30 November 2025. These bonds formed part of the $30 million wholesale corporate bonds issued in November 2022 as a key component of FHL's broader debt restructuring strategy following the impacts of COVID-19 pandemic. The $30 million bond raising undertaken in 2022, was part of FHL's refinancing strategy following the disruptions and economic pressures brought about by the COVID-19 pandemic. The bonds allowed the Group to refinance short-term obligations, stabilise liquidity, and strengthen the balance sheet at a critical stage of economic recovery. Importantly, a portion of the bond proceeds was allocated towards the development of the FHL Tower, FHL's flagship commercial property project, which was officially opened on 31 October 2025. Over the three-year term of the matured bonds, FHL paid a total of $1.368 million in interest to bondholders. This reflects the Group's consistent fulfilment of its obligations and commitment to maintaining a strong reputation in capital markets. FHL expresses its sincere appreciation and gratitude to all bondholders for their continued trust and confidence in the company. Your support through the subscription of these wholesale bonds has contributed significantly to the Group's ability to navigate challenging economic conditions, maintain operational continuity across the portfolio, and position FHL for long-term sustainable growth. Following the repayment of the 2025 maturity, two remaining tranches under the original issuance remain outstanding: • $10.8 million five-year bond, maturing in November 2027 • $4 million seven-year bond, maturing in November 2029 The Group continues to monitor market conditions and evaluate funding strategies to ensure that future maturities are managed effectively and in alignment with FHL's long-term capital structure objectives.
FHL 2025 Annual General Meeting Resolutions
The following resolutions were tabled and approved at the Company's Annual General Meeting (AGM) held at 2.00pm on Friday 31st of October 2025 at Level 18, FHL Tower, Lot 3, Corner of Gordon Street and Thurston Street, Suva. General Business: 1. Minutes of the previous AGM - Resolved to receive and confirm the minutes of the previous AGM held on Thursday 31st October 2024. Ordinary Business: 2. Consideration of Financial Statements - Resolved to consider the Accounts and Balance Sheet for the year ended 30 June 2025 incorporating the Directors' and Auditor's Report therein. 3. Confirmation of Dividend for FY25 - Resolved to confirm the Interim Dividend of $0.0135 per equity share each declared by the Directors on 2 October 2024, and 1 April 2025. 4. Appointment of Directors: a) Resolved the appointment of Col. Sakiusa Raivoce who retired by rotation and offered himself for re-appointment as an Independent Director of the company. b) Resolved that Mr. Jone Navakamocea be and is hereby appointed as a Director representing the majority shareholders, in place of Ms. Kamal Haer who has retired by rotation. c) Resolved that Mr. Viliame Leqa be and is hereby appointed as a Director representing the majority shareholders, in place of Mr. Anthony Whitton, who has retired by rotation. 5. Appointment of Auditors - Resolved the appointment of KPMG as Auditors of the company from the conclusion of this meeting until the next Annual General Meeting and that the Board be authorized to fix their remuneration. 6. Special Business - Resolved that effective from 1 January 2026, Directors of FHL serving on the Boards of subsidiary companies shall receive their respective Board fees and allowances directly from those subsidiaries, and that each FHL Director shall not serve on more than two (2) subsidiary Boards at any given time.
Annual Report 2025
The FHL 2025 Annual Report is now available. The Annual Report provides a comprehensive overview of the Group's financial performance, strategic highlights, governance framework, and outlook for the year ended 30 June 2025. Shareholders and stakeholders are encouraged to review the report for a full account of FHL's progress and results during the financial year.
FHL Independent Director Election
Fijian Holdings Limited ("FHL") wishes to advise that, following the Notice of Annual General Meeting issued to shareholders on 1 October 2025, and specifically Resolution 3(a), the Company has concluded its Director Election process in accordance with its Articles of Association and approved election procedures. The position of Independent Director was uncontested, and following the close of nominations, Mr. Sakiusa Raivoce was duly elected. The election was conducted by the Fijian Elections Office (FEO), which has confirmed the validity of the election process and the final results. FHL extends its congratulations to Mr. Raivoce on his election and expresses its appreciation to the FEO for its professional oversight and commitment to good governance practices. The appointment will be formally ratified at the upcoming Annual General Meeting of the Company.
FHL Declares an Interim Dividend
Fijian Holdings Limited ("FHL") is pleased to announce the declaration of an interim dividend totalling $4.113 million, in line with its dividend policy and based on company performance to 30th September 2025. Rokoseru Nabalarua, Chairman of the FHL Group, said the financial results for the first three months remain positive, with FHL once again achieving its budgeted dividend revenue. This was underpinned by strong contributions from investments in the tourism, retail, and finance sectors. The FHL Group maintains an optimistic outlook for the new financial year, while remaining mindful of risks such as potential slowdowns in emerging markets, geopolitical uncertainties, and market volatility. The Group will continue to focus on strengthening its portfolio, optimising investment returns, addressing critical issues within subsidiaries, including cybersecurity, and positioning FHL for sustainable long-term growth. Aligned with its purpose, FHL is committed to growing into new frontiers that create value for its shareholders, stakeholders, and communities. The Group's strategy remains focused on exploring opportunities that support national development, drive innovation, and ensure resilience in an evolving business landscape. In accordance with the SPX listing rules on dividend declaration and payments, the FHL Shareholders registry will close on the 23rd October 2025 and the dividend will be paid out to its shareholders on 31st October 2025.
Annual General Meeting of Fijian Holdings Limited
Notice is hereby given that the Annual General Meeting of Fijian Holdings Limited will be held at Level 18 - FHL Tower, Lot 3, Corner of Gordon Street and Thurston Street, Suva on Friday, 31st October 2025 at 2:00PM. The following options are available for shareholders, media and other stakeholders to participate in the AGM: a) Attend in Person b) Attend virtually via Zoom c) Attend via Proxy Shareholders and stakeholders wishing to attend the AGM on-line via Zoom, must fill the Pre-Registration Form and email the duly completed form to companysecretary@fijianholdings.com.fj before 2:00PM, Wednesday 29th October 2025. Ordinary Business: 1. Consideration of Financial Statements - To receive and consider the audited financial statement including audited consolidated financial statement of the Group for the financial year ended 30 June 2025 together with the reports of the Board of Directors and Auditors therein. 2. Confirmation of Dividend for FY25 - The Board recommends the ratification of the interim dividend of $0.0135 per equity share, each declared on 2 October 2024, and 1 April 2025. 3. Election of Directors - To appoint Directors pursuant to Articles 51 and 52 of the FHL Articles of Association, including the re-election of Colonel (Ret'd) Sakiusa Raivoce as Independent Director, and consideration of Mr. Anthony Whitton and Ms. Kamal Haer who retire by rotation. 4. Appointment of Auditors - To appoint Auditors in accordance with Section 422 of the Companies Act 2015, to hold office from the conclusion of this meeting until the conclusion of the next AGM. 5. Special Business - To consider and approve that, effective 1 January 2026, FHL Directors serving on subsidiary Boards shall receive their fees and allowances directly from the respective subsidiaries, and that each FHL Director may serve on no more than two (2) subsidiary Boards at any time.
Fijian Holdings Limited Relocates Head Office to FHL Tower
Fijian Holdings Limited (FHL) hereby announces that the Company will be relocating its Head Office from Ra Marama House to its new corporate headquarters at the FHL Tower in Suva. Effective Wednesday, 1st October 2025, FHL operations will be conducted from: Level 17, FHL Tower, Lot 3, Corner of Gordon St and Thurston St, Suva. The relocation to the FHL Tower is an important step in the Company's progress, providing stronger support for its operations. FHL Chairman Mr. Rokoseru Nabalarua said: "This relocation is more than a change of address; it reflects the vision of our founders and the resilience of our shareholders. Moving into the Tower reaffirms our commitment to our core purpose and to delivering sustainable returns for our shareholders." All existing contact numbers, email addresses, and communication channels remain unchanged. FHL thanks its shareholders and stakeholders for their continued support.
Fijian Holdings Limited FY25 Audited Accounts
Fijian Holdings Limited (FHL) Group recorded a consolidated Net Profit Before Tax (NPBT) of $60.3 million for the year ended 30 June 2025, against a challenging operating environment marked both by depressed demand and compressed margin. Whilst the financial result was 14% lower than for FY2024, the Group achieved several major milestones during the year in line with its strategic agenda and purpose. The FHL Tower achieved occupancy certification in June 2025, completing a high-end landmark building in Suva and a significant milestone in the Group's property portfolio. In partnership with Nawaibuta Properties Pte Limited, FHL also commenced a new commercial development in Korovou, Tailevu marking one of its Impact Investments, with commitments of up to $50 million for joint ventures with resource owners. Merchant Finance Limited strengthened its market presence through innovative new product offerings to segments that are not well-served by traditional financiers. Its loan book surpassed the $200 million mark during FY2025. South Sea Cruises continued to be the Group's flagship performer, further expanding its offerings through investments in new assets to capitalize the robust growth in the tourism sector. Strong contributions from South Sea Cruises, RB Patel Group, and Merchant Finance helped offset headwinds in other sectors, including a weaker performance from Basic Industries and a reduction of $3.5 million in share of profits from associates. At the Holding Company level, FHL recorded a profit before tax of $18.7 million, compared to $16.9 million in FY2024. Dividend revenues improved during the year, supported by higher distributions from South Sea Cruises, FHL Fund Management, and FHL Media. The Chairman, Mr. Rokoseru Nabalarua, said: "FY2025 has been a year of both achievements and challenges. Our landmark projects and subsidiary performance demonstrate the strength and diversity of FHL's portfolio. The Group remains committed to exploring new opportunities, while maintaining a disciplined approach to debt and capital deployment. Looking ahead, we remain mindful of global uncertainties, inflationary pressures, and geopolitical risks, but confident in FHL's ability to adapt, grow, and deliver value for all stakeholders." As of 30 June 2025, FHL's net assets stood at $707.4 million, an increase from $648.9 million in FY2024 reflecting continued growth in investments and capital expansion across the Group. FHL's FY2025 performance reinforces its strategic direction of "Growing into New Frontiers in Pursuit of our Purpose."
Pacific Cement Pte Limited Normalises Cement Supply; Mill Upgrade Underway
Fijian Holdings Limited (FHL) issues the following update on its subsidiary, Pacific Cement Pte Limited (PCL), with reference to the market announcement released on 6 June 2025. Commissioning works on the repaired cement mill at PCL has been successfully completed. Production has resumed, with PCL now supplying both bulk and bagged cement to its customers. Cement supply in the market is now normalized. We sincerely thank our valued customers, partners, and stakeholders for their continued support and understanding. Furthermore, PCL with the support of its shareholders is now fast-tracking its process to upgrade the existing cement mill. This initiative will mitigate potential risks and enhance the long-term reliability of the mill, ensuring that PCL continues to meet the growing demands and satisfaction of its customers and stakeholders in the future.
Fijian Holdings Limited and Nawaibuta Properties Pte Limited Break Ground on Commercial Development in Korovou
Fijian Holdings Limited (FHL), in partnership with Nawaibuta Properties Pte Limited (NPPL), today held a groundbreaking ceremony to officially mark the commencement of a new commercial development in Korovou, Tailevu. This significant development follows the formal signing of construction agreements on 19 June 2025 between NPPL; Design Hut as the Project Managers; and Cope Construction Pte Limited as the construction contractors. NPPL was established by the Yavusa Nawaibuta (representing the villages of Nailega, Navunisole, and Matacula and their nine mataqali) through its commercial arm; Nawaibuta Holdings Pte Limited (NHL). With strategic investment and support from FHL, NPPL will lead the delivery of this commercial development. NHL currently owns and manages Nawaibuta House, a commercial investment property located in the heart of Korovou Town. "This groundbreaking ceremony is more than just laying a foundation; it's about building a future where iTaukei landowners and future generations are direct beneficiaries and drivers of economic progress by developing their own resources. Our partnership reflects FHL's continued commitment to accelerating iTaukei participation in the commercial sector while ensuring sustainable returns for our shareholders." stated Mr. Jaoji Koroi, Group CEO of FHL. The Korovou development is one of several projects under FHL's impact investment portfolio, with up to FJ$50m approved for joint ventures with iTaukei resource owners. Landowners contribute land as equity, while FHL provides the necessary investment and commercial expertise, establishing a mutually beneficial relationship aimed at long-term economic returns and community benefits. The project is also supported by FHL major institutional shareholders who continue to play critical roles in facilitating and supporting these groundbreaking initiatives.