Permanent Secretary for Forestry and Fisheries, Commander Viliame Naupoto is the new Chairman of Fiji Pine Limited.
Commander Naupoto was nominated by the government and appointed as Chairman in the AGM of Fiji Pine Limited earlier today.
And Fiji Pine Limited has also reached a milestone today as the first dividend of 1 million dollars has been paid to the Fiji Pine Trust. The Trust managed for the landowners then paid the government $500,000.
This begins the process where the government has started redeeming its shares worth $61 million, which was the original plan when Fiji Pine Limited started 20 years ago.
As Fiji Pine Limited makes profits the landowners are expected to continue paying the government and taking over the government shares.
Story by: Vijay Narayan
Naupoto is new chairman for Fiji Pine
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