The South Pacific Stock Exchange today received details of the Fijian Holdings Limited's corporate governance audit report after the suspension of FHL's trading yesterday.
Stock Exchange Chief Executive Officer Jinita Prasad said they have received positive feedback from the company but need further clarification on the matter.
She said if FHL provides all the relevant information, the suspension can be lifted.
Earlier this month, FHL CEO Sereana Qoro and Chairman Isoa Kaloumaira were asked to step aside to allow for a Corporate Governance audit to be conducted, only to be reinstated hours later after the audit was complete and a report was handed to the Prime Minister’s Office.
FHL also signed a memorandum of understanding earlier this month to fund the construction of the new Police Headquarters in Suva at a value of $20 million to be paid over 20 years.
And just last Friday, FHL announced that the deal to purchase BP South West Pacific has been terminated as it failed to secure the $190 million needed for the acquisition. It was also announced that BP South West Pacific will refund FHL's deposit of 25 million dollars. Qoro and Kaloumaira are yet to comment on the suspension.
FHL suspension could be lifted
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