Free Investment Seminar

The South Pacific Stock Exchange (SPSE) is organising a free investment seminar on Friday, 27 March 2009, at the SPSE Boardroom, Level 2, Provident Plaza 1, FNPF Downtown Boulevard, Ellery Street, Suva, Fiji.

Participants will receive a free educational package. Light lunch will be served.

For information or to register you interest, pls call telephone (679) 3304130 or email info@spse.com.fj.

For advice on investment in Fiji or for portfolio management, pls email our company on info@gilbert.com.fj or call telephone (679) 3342719.

RB Patel Group Limited Declares Interim Dividend of F$12 million

RB Patel Group Limited, a listed company in the South Pacific Stock Exchange, has declared an interim dividend of F$1.2 million (or 4 cents per share) for the six months ending 30 September 2008.

The interim dividend will be paid on 20 November, 2008.

The company made a net profit after tax of F$2.112 million for the last six months ending 30 September 2008.

This is an improvement compared to the same period in 2007, which had a net profit after tax of F$1.929million.

Over the coming year, the company will open its new complex in Nadi on November 2008. The complex is worth F$12million.

The new complex known as JetPoint Supacentre, will have a RB Patel Supermarket, open market restaurants, coffee shops, retail shops, offices and other ancillary services.

Individuals and groups that need investment advice can use our company, Gilbert & Samuels Company Limited. Our contacts are: telephone (679) 3342719 or e-mail: info@gilbert.com.fj

Future Forest Limited (FFF) aims to list on the South Pacific Stock Exchange.

Future Forest Limited (FFF), Fiji’s first teak planting company, has revealed that it aims to list on the South Pacific Stock Exchange as a public company by early April or May 2009.

The price of teak timber has increased significantly over recent years, providing an excellent investment opportunity with competitive returns.

Future Forests Fiji Ltd is funded through private investments. The company welcomes interested parties to contact the company for more information on investment opportunities.

Individuals and groups that need investment advice can use our company, Gilbert & Samuels Company Limited. Our contacts are: telephone (679) 3342719 or e-mail: info@gilbert.com.fj

Fijian Holdings Group records F$10 million profit

Fijian Holdings Group (FHL), a company listed on the South Pacific Stock Exchange (SPSE), made a net profit after tax of F$10.530 million, for its latest financial year ending 30 June, 2008.
The company has also declared its second dividend payout for the financial year of over F$2million which is to be paid out on 31 October, 2008.

FHL is one of the better performing companies listed on the SPSE.

The company has also announced that its Annual General Meeting will be held on 31 October 2008, 3.00pm, at the Banyan Room, Holiday Inn, Suva.

Individuals and groups that need investment advice can use our company, Gilbert & Samuels Company Limited. Our contacts are: telephone (679) 3342719 or e-mail: info@gilbert.com.fj.

Amalgamated Telecom Holdings Limited restrictions on trading of its shares on the South Pacific Stock Exchange

Amalgamated Telecom Holdings Limited a listed company in the South Pacific Stock Exchange has restricted all Directors and staff of ATH and its Group companies including Telecom Fiji Limited, Vodafone Fiji Limited, Fiji Directories Limited, Internet Services (Fiji) Limited, Xceed Pasifika Limited and Transtel Limited from trading (buying/selling) on the South Pacific Stock Exchange with effect from 7 October to 5 December, 2008.

This restriction of trading also applies to immediate family members (including spouse, children, brothers, sisters and parents).

The restriction is in accordance with the Group’s Code of Corporate Governance.
Pls contact telephone (679) 3308700 for further information and clarification.

Annual General Meeting for Flour Mills of Fiji, Atlantic Pacific Packaging and Rice Company Limited

The Annual General Meeting for Flour Mills of Fiji and its subsidiaries Atlantic Pacific & Packaging and Rice Company Limited companies that are listed on the South Pacific Stock Exchange, is scheduled for Friday, 31 October 2008, at the Training Room, Atlantic & Pacific Packaging Company Limited, Leonidas Street, Walu Bay, Suva.

Flour Mills of Fiji made a Group net profit after tax of over F$4.50 million for its latest financial year ending 30 June, 2008.

RB Patel earns profit of F$4.28million

RB Patel group, one of the largest successful supermarket chains in Fiji and a company listed on the South Pacific Stock Exchange, has recorded an operating profit after tax of F$4.28 million for its financial year ending March 31, 2008.

This growth represents an increase of 15.41 per cent from the F$3.7 million recorded over the preceding year.

RB Patel Group also reported that it will pay out 14 cents per share in dividends later this year.
For more advice on investing in shares, pls email: info@gilbert.com.fj.

Annual General Meeting for Amalgamated TElecom Holdings Limited

The Annual General Meeting for Amalgamated Telecom Holdings Limited (ATH), a company listed on the South Pacific Stock Exchange, is scheduled for Thursday, 21 August 2008, 9.30am, at the Lali Room, Holiday Inn, Suva.

ATH made a net profit of over F$46 million for its latest financial year ending 31 March 2008.

With the entry of Digicel into the mobile telephony market this year, some pressure is expected on ATH's margins and profits over the coming years.

Fiji TV profits fall

The Fiji Television Group's profits after tax fell to $856,903 for the year ended 30 June 2007 compared to F$3.6 million recorded in the 2006 financial year.

The Group said that its financial results were impacted by the overall reduction in revenue for its Fiji operations and an increase in programming and satellite delivery costs across the Group.

The Group's revenue, however, had risen by 12.5% to F$24.5 million compared to its 2006 financial year but had been 24.3% below budget.

The Group includes Fiji Television Limited, Communications Pacific Limited and Media Niugini Limited at Papua New Guinea.

Fiji Television Limited is listed on the South Pacific Stock Exchange.

Fiji stock exchange update

Read an article below from the Fiji Times on Saturday, 21 July 2007, on the status of trades on the South Pacific Stock Exchange based in Suva, Fiji.


"SPSE market 'bear':CEO, Saturday, July 21, 2007

Investors on the South Pacific Stock Exchange have witnessed a "very bear market", with sellers outnumbering buyers over the last 12 months, says chief executive officer, Jinita Prasad.

Ms Prasad said a number of stocks hit their 52-week low prices. Market capitalisation had declined 23.6 per cent in value over the same period because many stocks remained with only sellers and no buyers.

"This was reflected in the volume traded over the period as well which fell significantly as many investors braced for further downward movement in prices," she said.

"While some stock prices might continue to fall in the near future, some stocks had also started to reach levels which might be attractive for speculative buyers and institutional investors to start accumulating at."

Ms Prasad said a long term investment in shares should not only be seen in the economical or political light or its volatility in the short term.

She said volatility in the short term was bound to exist in any market.

"In other words, prices move up and down in the short run, however generally trend upwards over the long term."

Ms Prasad said this was evident in some of the listed company share prices when seen over a three-to-five year period rather than the performance over the last six months only.

Market capitalisation dipped slightly by 0.4 percent by the end of the week.

Ms Prasad said the fall was due to the decline in share price of Foster's Group Pacific Ltd by approximately 0.3 per cent. "

More Fijians investing in the stock market

The Capital Markets Development Authority (CMDA) says that more indigenous Fijians are investing in the unit trust and stock markets compared to other ethnic groups.

CMDA said that about 64% of investors in the unit trust market are indigenous Fijians while other residents comprised 36%.

The analysis done by CMDA is interesting is that it may mean the following :

1. confirms that indigenous Fijians are passive investors who when they do invest leave their investments as they are for years without active monitoring of the investment's performance and the markets;
2. Fijians are still not very well educated in terms of finance and financial matters hence the reliance on professional fund managers, such as unit trusts, to manage their investments for them;
3. other races in Fiji use their own savings to set up their own businesses rather than give it to others to use (such as that done by indigenous Fijians);
4. viewed from a different perspective, the above point could also suggest that Fijians are funding the businesses owned by other races (e.g. investment in businesses majority owned by other races which are listed on the South Pacific Stock Exchange, Suva, Fiji).

Further analysis may need to be done by the CMDA to dig into what is behind the statistics it has given out.

Read the commentary on CMDA's review in a Fiji Times article below.



"More Fijians invest in stock market, Saturday, June 30, 2007

More indigenous Fijians are investing in the unit trust and stock market compared to other ethnic groups, says the Capital Markets Development Authority chief executive Suren Kumar.

Mr Kumar said market statistics showed that about 64 per cent of the investors in the unit trust market are indigenous Fijians, while other Fijian citizens and residents comprised 36 per cent.

Mr Kumar said the new trend for Fijians towards investing was heartening and should be supported. "Apart from individuals, a substantial number of provincial and tikina-owned companies, vanua and communal groups also invest in the unit trust and stock market," he said.

Mr Kumar said this as the CMDA launched the Fijian version of "Investing for retirement" (Na vakatubu i lavo me baleta na tiko marau ena gauna ni vakacegu mai na cakacaka) and another booklet, Why should you invest (Na cava na vuna mo vakatubu I lavo kina) this week.

He said financial literacy was fundamental to market development.

This corresponds with the Bureau of Statistics 2002-2003 Household and Income Expenditure Survey which indicates that in aggregate, indigenous Fijian households are saving some 18 per cent of their incomes with little differences between the major ethnic groups.

However, Mr Kumar said the same report highlighted that only 13 percent of indigenous Fijians over the age of 54 considered themselves as retired compared to 26 per cent to 28 per cent of other Fiji citizens.

"These statistics support some of our concerns and initiative to translate and publish the Fijian version of 'investing for retirement' as the statistics indicated some indigenous Fijians could not retire completely because of their financial obligations to their families and communities," he said.

He said there w as a greater need for more indigenous Fijians to plan for their retirement earlier in their working lives.

"We hope many will take advantage of these publications and take time to learn fundamentals and seek advice from licensed advisers, brokers or unit trust representatives before making any investing decision," he said."

RB Patel Group registers a profit

The RB Patel Group Limited, a company listed on the South Pacific Stock Exchange in Suva, Fiji, recorded a profit after tax of F$3.4 million over its financial year ended 31 March 2007 - an increase of a little over 16% compared to the previous year.

Group revenue rose to F$71.7 million, an increase of around 4% compared to its 2006 financial year.

Given that it operates in the supermarket industry, the company said that this somehow protected it after the Reserve Bank of Fiji tightened monetary policy.

The company will continue to look for growth opportunities and open new stores.

Toyota Tsusho makes a profit

Toyota Tsusho (South Sea) Limited, a company listed on the South Pacific Stock Exchange in Suva, Fiji, has made a net profit after tax of F$2.8 million for the period ending 31 March 2007. Of the F$2.8 million, F$1.6 million was contributed by the company's Fiji operations.

The result was lower than that recorded in the same period in 2006.

The company has attributed its lower results to lower new vehicle sales due to the current economic conditions. Its rental car business, run as Avis, also produced lower results due to the downturn in tourism.

Toyota Tsusho trades as Asco Motors in Fiji and has branches in Fiji, Tonga, Samoa and American Samoa.

Toyota Tsusho's share price as at 30 May 2007 was F$2.06.

Unit Trust of Fiji Performance

Unit Trust of Fiji's (UTOF) returns fell drastically over its financial year ended 30 September 2006. For that period, UTOF recorded :

• dividend yield of 4.70%;
• capital growth return of 1.61%; and
• a total return of 6.31%.

This was a substantial reduction from its performance recorded over the 2005 financial year when it registered :

• dividend yield of 4.67%;
• capital growth return of 9.01%; and
• a total return of 13.68%.

UTOF has said attributed the dismal 2006 results to the increase in official interest rates by the Reserve Bank of Fiji which it said resulted in a decline in value of its government bond portfolio. That reduction, according to UTOF, led further to reduction in UTOF's unit prices.

The decline in share price/market value of various shares listed on the South Pacific Stock Exchange which contributed a negative effect on UTOF's investment portfolio.

Being professional fund managers, one would have expected a bit more diligence from UTOF. Investors in UTOF would be best placed to now question what steps the fund will take if interest rates will continue to rise to avoid a similar result occurring in future. On the other hand, UTOF may be best advised to look at reducing such risks by diversifying its investments and invest overseas.

Read a press release issued by UTOF in the Fiji Times today, Thursday, 26 April 2007, and check the CMDA Annual Reports at www.cmda.com.fj for UTOF's returns over the past years.

Note : Anyone that wants investment advice can contact our company, Gilbert & Samuels Company Limited, for assistance. To contact us, e-mail gilbert@connect.com.fj or call telephones (679) 3396427 or (679) 9921427.

Communications Fiji Limited records a large reduction in profit

Communications Fiji Limited (CFL), a company listed on the South Pacific Stock Exchange, has recorded a large reduction in operating profit. CFL's profit after tax fell to F$12,904 for the year ended December 2006 compared to F$217,102 recorded in the same period in 2005 .

The company has given reasons for the downturn as including difficulties arising from the recent political events in Fiji and an overall focus on consolidation.

Following expansion in 2005, CFL has concentrated on strengthening management systems and maintaining clear goals.

The company is expected to see an increase in profits over 2007 with increased revenues and significantly reduced expenditure.

CFL holds 45% shares in a local Internet Service Provider, Unwired Fiji, and owns radio stations FM96 and Legend FM.

Note : If you require investment advice, you can use our company, Gilbert & Samuels Company Limited. Our principal, Gilbert Veisamasama Jr, is an Investment Advisor licensed by the Capital Markets Development Authority (of Fiji). To contact us, e-mail gilbert@connect.com.fj or call telephones (679) 3396427 or (679) 9921427.

Pacific Green records a loss

Pacific Green Limited, manufacturer and exporter of palmwood furniture, has recorded a loss of F$200,000.00 over the past year. The company said that its performance was still good given that it had to overcome many difficulties during the period. It has attributed the loss to restructuring costs and closure of its warehousing operations in Australia. The company is listed on the South Pacific Stock Exchange in Suva.

Fiji Television Limited to pay dividends

Fiji TV, a company listed on the South Pacific Stock Exchange (SPSE), said that it will pay an interim dividend of 9% per share despite a fall in its profits over its most recent half year. The company's payout is expected to total F$927,000.00. Fiji TV also added that it will pay out a final dividend at the end of its financial year after the usual annual audit of its accounts.

VB Holdings Limited record a profit

VB Holdings Limited, a company listed on the South Pacific Stock Exchange, has recorded a profit of F$418,223.00 for its 2006 financial year compared to F$332,243.00 recorded for 2005.

The company said the improved performance in 2006 was due to outstanding performance of its fleet management division which it said was due to its "ability to respond quickly to customer choices and requirements".

Its property management division also registered a normal growth of 7% of total revenue.

The company said that despite the current political situation in Fiji, it could already see new business opportunities in 2007.

Fiji TV records lower profits for half year

Fiji TV, a company listed on the South Pacific Stock Exchange, has reported a fall in profits for the first half of its current financial year. Profits are tax fell to F$1.5 million for the half year ended 31 December 2006. This compares with a profit after tax of F$2.3 million recorded in the same period the previous year.

The company gave the reason for its lower performance as "due to the downturn in overall business [a result of] the political instability and the events of December 5, 2006 .......". The company said as a result the company expects its revenue for the next six months is to fall by 8.5%.

Note : Fiji residents that require investment advice can use our company, Gilbert & Samuels Company Limited. Our principal, Gilbert Veisamasama Jr, is licensed as an Investment Advisor by the Capital Markets Development Authority (of Fiji). Our contacts are : e-mail gilbert@connect.com.fj and telephone (679) 3396427.

Flour Mills of Fiji records a loss

Flour Mills of Fiji (FMF), a company listed on the South Pacific Stock Exchange, has recorded a loss of F$1.2 million for the six months ended 31 December, 2006. For the same period the previous year, the company had recorded a profit of F$1.3 million.

The loss has been attributed to increases in wheat prices - an ingredient used in making flour and other products that the company makes. Increases in fuel and freight costs, electricity charges and borrowing cost also contributed to the negative growth.

No dividends has been declared for the period.

The company is working in increase in the price of flour, restructuring and cost control as measures to improve its performance for the next six months.

Note : Readers who require investment advice can contact our company, Gilbert & Samuels Company Limited, for assistance. Our contacts are : e-mail gilbert@connect.com.fj or telephone (679) 3396427.