The Fiji National Provident Fund (FNPF) is tightlipped on the amount of money it is willing to settle for, to sell off the Momi Bay resort project.
When contacted by Fijivillage, FNPF CEO Aisake Taito only said that negotiations are still underway with the highest bidders who have offered $41 million at the auction on Tuesday.
He said FNPF will not divulge the figure at which the FNPF would be satisfied.
Auctioneer's Bayley's Real Estate General Manager Philip Toogood confirmed that more offers have come in from locals and abroad to buy out the Momi Bay project and they are waiting to see what these offers are and whether any investor is willing to go over the $41 million.
The FNPF has invested $80 million of members’ funds into the project and it is likely that they will have to cut their losses if they are unable to secure a higher bid.
FNPF silent on amount wanted for resort
Related Stories
COMPOL urges Lagalaga Sanatan students to value discipline and education
Students of Lagalaga Sanatan Primary School in Labasa have been reminded of the importance of education, discipline and obedience by the Commissioner of Police Rusiate Tudravu. Tudravu spoke to the students during
Heavy Rain Alert remains for Viti Levu, Southern Bua, Cakaudrove, Lau and Lomaiviti Groups
A Heavy Rain Alert remains in force for the Eastern half of Viti Levu from Serua, Namosi through Navua, Suva, Nausori, Tailevu, Naitasiri, Ra, Southern Bua, Cakaudrove, Taveuni, Kadavu, Lau and Lomaiviti Groups and near
Warning letter written to Prof. Narsey – Acting AG
Acting Attorney General Siromi Turaga says a strong warning letter has been written to Electoral Reform Commissioner Professor Wadan Narsey after he came out publicly with the Electoral Reform Commission report recommen
3 Fijian men from KVT gang in Sydney denied bail for AUD$12.5M drugs case
Three Fijians who are alleged to be associated with a gang supplying drugs in Sydney have been refused bail by the court. 28-year-old Eparama Nevale, 28-year-old William Ravoka, and 24-year-old George Sukanaivalu,
Proposed ‘People First’ submits application for registration
The Proposed ‘People First’ has submitted its application for registration to the Registrar of Political Parties, Ana Mataiciwa. Mataiciwa confirms that the FEO is now preparing to publish the party’s applica
Visitor arrivals on track for record year while sugar output drops
Visitor arrivals have recovered following a decline in the first quarter and based on current trends, Fiji is on track to achieve a third consecutive year of record visitor arrivals in 2025. While speaking on the p