Foster’s Group makes a profit

Foster’s Group Pacific Limited, a listed company on the South Pacific Stock Exchange in Suva, Fiji has recorded a net profit after tax of over F$10.4 million for the period ending 30 June 2008.

The result was higher than that recorded in the same period in 2007.

The Company Director Mr. Shaw said that the operating revenue increased marginally by 2.90% last year driven by product price increases, favorable sales mix and New Product Development growth.

Foster’s Group Pacific Ltd share price as at 27 August, 2008 was F$13.50.

Extraordinary General Meeting for Yaqara Limited

An Extraordinary General Meeting for Yaqara Group Limited, a company deregistered from the South Pacific Stock Exchange, is scheduled for Friday, 26 September 2008, 4pm at the Tanoa Plaza Hotel, Suva.

Yaqara Group Limited had recorded a net profit after tax of over F$1.1million for the financial year ending 31 March, 2008.

New Zealand soften remittances for Pacific islanders

The New Zealand Government is to make it easier for Pacific islanders in New Zealand to send money home.

Currently the charges for sending money to the region can be up to 25.00% of the amount involved.

Regulatory changes, which may be in force by the end September 2008, could bring charges down to about 7.00%.

New Zealand’s Ministry of Pacific Islands Affairs says sending money to the Pacific is almost five times more expensive than to other regions.

ANZ Interest Rates (updated 22.08.08)

Schedule of interest rates released by ANZ Fiji are as follows:

• Business Index Rate - 10.25%;
• Residential Property Loan : Standard Variable Rate - 9.75%, 1 Year Fixed Rate - 7.75%;
• Investment Loan : Standard Variable Rate - 9.75%, 1 Year Fixed Rate - 7.75%;
• Personal Loans : Secured - 11.50%, Unsecured - 14.20%;
• Small Loans : Unsecured - 19.00%;
• Retail Term Deposits: 9 months to 1 year - 1.25%, 1 to 2 Years - 1.75%, 2 Years to 3 Years - 1.75%.
  

Interest rates are on a per annum basis and may be varied by ANZ without prior notice.

Westpac Interest Rates (updated 22.08.08)

Schedule of interest rates released by Westpac Fiji are as follows:

• Business Lending Rate - 9.99%;
• Residential Property Loan : Variable Rate – 9.75%, 1 year Fixed Rate – 8.00%;
• Investment Loan : Variable Rate - 9.50%, 1 year Fixed Rate - 7.50%;
• Retail Term Deposits: 6 to less than 9 months - 1.25%, 9 months to less than 1 year - 1.75%, 1 year to less than 1.5 Years - 1.75%, 1.5 years to less than 2 Years - 1.75%, 2 years to less than 3 Years - 1.75%.

Interest rates are on a per annum basis and may be varied by the bank without prior notice.

ANZ reduces interest rates on loans effective 01.09.08

Australia and New Zealand Banking Group Limited (ANZ) has announced a 0.25 % reduction in interest rate for its variable residential property loans. The new standard variable rate will be 9.50 % per annum.

The new fixed rates for residential property loans effective from 1 September, 2008 are:

• 1 Year - 7.50% per annum
• 2 Year - 8.00% per annum
• 3 Year - 8.50% per annum.

For more information, pls call the ANZ Bank branch near you.

Colonial National Bank Interest Rate

Schedule of interest rates released by Colonial National Bank are as follows:

• Business Banking Base Rate – 9.45%
• Residential Property Loan : Variable Rate – 9.75%, 1 Year Fixed Rate – 7.75%;
• Investment Loan : Variable Rate – 9.75%, 1 Year Fixed Rate – 7.75%;
• Retail Term Deposits: 9 months - 2.00%, 1 year - 2.00%, 1.5 Years - 2.00%, 2 Years - 2.00%, 3 Years - 2.00%.
  

Interest rates are on a per annum basis and may be varied by the bank without prior notice.