By RACHNA LAL

Have you ever received a gift that you simply did not want on the celebration of a special occasion? It happens all the time!
Such unwanted gifts generally end up getting stored away in the corners of dark cupboards or in turn recycled and given away as gifts.
But this is now a thing of the past.
Courts (Fiji) Limited, owned by Vision Group, has taken the initiative to open a gift registry which was launched yesterday.
The gift registry would be perfect for whether it be your wedding, anniversary, birthday, farewell, or baby shower and intend to invite friends and families as guests to celebrate the occasion.
Courts chief executive, PL Munasinghe, said: “You can actually nominate the gifts you would like to receive from your guests through the Courts Gift Registry.
“This is something to add value to customers shopping experience and is a unique thing keeping up with the technology advancement.”

Creating a gift registry
The Courts Gift Registry is fully automated and very simple to use. Mr Munasinghe explained how the process works:

• Walk into a Courts nominated Store (Samabula, Rodwell Road, Namaka, Lautoka), browse around the store and select a list of all gifts you would like to receive from your guests;
• Walk to the Courts Gift Registry Computer Terminal, register your personal details and enter the list of gifts you would like to receive from your guests;
• Obtain your Gift Registration Number;
• Let your guests know that you have opened an account in the Courts Gift Registry and tell them your Gift Registration Number. A statement can be printed on your invitation card as follows:
  “A Gift Register Has Been Opened at Courts. If you intend to give a Gift, please walk into any Courts Store Fiji Wide provide the Gift Registration Number xxxxxxx and select from the list of Gifts we have chosen”;
• A guest can then walk into any Courts Store, give the Gift Registration Number and select a gift according to the sum they wish to spend from the list of gifts you have nominated. Once a particular item has been purchased by a guest, that item will be automatically removed from the list of gifts; and
• The guest has also the choice of picking up the gift or asking Courts to deliver the gift to you at a nominated place and date.
  Courts will attractively gift wrap the items.

By SITERI TALEITAKI

The head of the Delegation of the European Union for the Pacific Andrew Jacobs and his delegations were in the north yesterday to visit European Union (EU) funded projects.
This was his first visit to the north since he took up his position.
Speaking at the Foundation of Rural Integrated Enterprises “N” Development ‘GROW’ Conference Mr Jacobs said European Union is proud to assist the farmers in their small projects.
These ares such as bee keeping and producing local products FRIEND Fiji style which is made locally.
“I commend FRIEND Fiji for the good achievement so far, despite the advice weather condition with the flood and cyclone FRIEND has managed to keep the target and timelines of the GROWTH Programmes.”
He said that the EU programme will further provide access to basic infrastructure services through 50 community projects.
“These projects are water supply and sanitation, education facilities, rural transport or rural electrification.”
In his visit to the Tabia Kindergarten School, Mr Jacobs reassured the teachers that they are happy to fund the school through Labasa Cane Producers Association after the relocation of the school from the village community hall to the current site.
He informed the students to study hard and enjoy the facilities.

Left: Mohammad Habbib with a colleague and European Union Head of Delegation, Jacob Andrews. Photo: SITERI TALEITAKI

By RANOBA BAOA

The only seaweed exporter in the country hopes to secure a wet leasing licence to resolve inconsistent supply from their seaweed farmers to revive seaweed farming.
In a letter to the Department of Fisheries, in late March, Wee Kong Marine Products & Exporter Co Limited highlighted the potential of seaweed export to China, a major market.
Euchema Cottonii seaweed is used in the production of Carrageenan.
Carrageenan is an important product used in cosmetics, food processing and industrial uses, as well as a food source for those living in Indonesia and the Philippines.
Since 2009, the company’s hopes to revive the industry was ongoing but still unsatisfactory as major farmers in Ono-i-Lau and Gau were not meeting the supply.
No more than two tonnes of seaweed per month were exported and this the company noted was very low in comparison to Fiji’s capacity supply.
Country’s production capacity
The company notes that Fiji has the capacity to produce 300 tonnes of dried seaweed per month, while the total demand for the Chinese markets is 5000 tonnes per month.
Company partner and Marketing and Development manager Malakai Tuiloa said Fiji has huge potential if it is properly managed.
“The large sea water mass, 410 iqoliqoli pristine pollution-free is ideal for seaweed farming,” Mr Tuiloa said.
“Also taking into consideration that seaweed is environmentally friendly and the best alternative for overfishing.”
Mr Tuiloa noted the success of the industry in Philippines being a $10-billion industry and Fiji too can be a living example.

Notable benefits
“The recommended solution and the only way forward for Fiji to increasing seaweed production is for Government to create the enabling environment through the wet leasing policy arrangement with traditional custodians.”
This can be done through respective ministries and departments he noted.
Thanks to the department of fisheries and national planning and strategic development seaweed farming has been ongoing however more needs to be done to achieve higher yield, he said.
“This will give the investors/companies the confidence to carry out large scale seaweed farming and mass production of seaweed products in the remote rural coastal areas.”
Additionally it may counter issues like poverty, urban drift and social problems in urban centres, he advocated.

First large shipment since revival
Meanwhile the company is set to export 40 tonnes of the dried seaweed to China soon with this being the largest shipment since 2009.
“This will be our first biggest shipment to our markets in China and we hope that it will continue to increase with Government’s intervention and assistance.”
Prior to the company’s seaweed revival plans, the highest production was in 2000 where 500 tonnes was exported to China.

Wee Kong Manager Marine Products & Exporter Co Limited marketing and development manager, Malakai Tuiloa (left) and staff with dried seaweed ready for export. Photo: PAULINI RATULAILAI.

By LITIA MATHEWSELL

Two weeks away from the cane crushing season and seemingly deliberate cases of farm fires continue to hit the optimism of farmers in Togolavusa in the interior of Nadi.
Police are investigating a Sunday night inferno that razed 30 tonnes of sugar cane at a farm belonging to Parvind Kumar in Togolavusa.
“Another cane farm was also set on fire here last year, just before the crushing season,’’ he said.
It’s a huge blow for the father of four, who returned to renew the lease of his Togolavusa farm after a ten year break and had banked on these earnings to also support his elderly mother.
“I live a short distance from the farm and received a call from neighbours that it was on fire around 7:30pm Sunday,’’ he recalled.
“I rushed over and we managed to put the blaze out with gallons of water. The cane that burnt was nearing maturity for the harvesting season and we only managed to save two lorry loads of sugarcane.”
Police have already raked the scene and begun investigations.
Mr Kumar said he supported the efforts of the Fiji Sugar Corporation in encouraging farmers around the country but was upset over what he suspects to be the malice of envious hooligans.

Cane farmer Parvind Kumar (centre) at his razed farm in Togolavusa, Nadi, with neighbours Kaminieli Turaga and Surend Kumar. Photo:LITIA MATHEWSELL

By RANOBA BAOA

Liam Hindle’s prominent wine, food and bar operations are expanding to Suva’s Damodar City Complex, Grantham Road.
Mr Hindle said they will have a sports bar, a Victoria Wines shop, a wine bar and restaurant operation on the site.
Mr Hindle said constant changes and investments are imperative to the changing times.
“You have to keep changing all the time and improving to be up to date because as soon as you’re on a plateau you start sinking, you get behind the way you sink,” Mr Hindle said.
The total investment at Damodar City will be heading towards $1 million, Mr Hindle said.
“We’ve got a Sports Bar planned which will be an O’Reilly’s and next to our wine shop we’re opening a wine bar which will also have a restaurant by the Bad Dog team.
“So it will be a more up market version Bad Dog Cafe and it will be a wine shop, wine bar and restaurant in Damodar City.”

Confidence
And with elections next year Mr Hindle is confident about the investment climate ahead.
“I’m very positive about how things will go over the next couple of years. And I think one is when we get through elections.
“Once people or the doubters are convinced that there will be elections then everything will be done properly.
“I think once we get through that there will be a lot of demand which will come out. And I think Fiji has a chance of really moving forward.”
Mr Hindle came to Fiji initially as a geologist 46 years ago and towards the end of the contract in Government decided to stay back and start life and business here.
“Fiji has always had untapped potential because we’ve got all the available things.
“But it’s just been in the doldrums for far too long but it has a really good chance to come out.”

Launch of tattinger
Meanwhile Victoria Wines supplier officially launched the exclusive Taittinger Champagne.
He said they had started distributing it last year and the growing interest of wine from the Fijians saw the launching a success.
The launch was held at the French Ambassador’s residence with invited guests including the President Ratu Epeli Nailatikau.
“Taittinger is one of the most famous and exclusive brands and is the second most important land holding in the top champagne areas,” Mr Hindle noted.
“The Fijian people change from just being beer drinkers into wine drinkers. We are gradually raising the level and a lot of people in Fiji now are drinking wine.”
Taittinger is an international luxury brand with a presence in 140 countries worldwide.
It has the second most important vineyard holdings in Champagne.
The champagne comes in a range of size bottles for consumer selection.
Additionally the entertainment, food and bar operations plans to launch a website which will be up and running this week.

From left: Victoria Wines managing director, Liam Hindle, President Ratu Epeli Nailatikau and French Ambassador Gilles Montagnier during the launch of the Taittinger champagne at the French ambassador’s residence.

By LITIA MATHEWSELL

With the crushing season only two weeks away, all cane growers are urged to submit their completed memorandum of gang agreement (MOGA) forms to their sector officers.
Sugar Cane Growers Council (acting) chief executive officer Sundresh Chetty said the memorandum forms have been distributed to the gangs.
They are being urged to hold their annual general meetings and finalise arrangements for cutters, lorries and tractors before handing in their completed forms so that other arrangements could be finalised by sector officers.
On gang amalgamation, Mr Chetty said: “With the gangs where we have consensus- a hundred percent agreement with the growers- those gangs are being merged but where there are disagreements, it will remain status quo, for this season”.
Upgrade works to cane access roads by various contractors are also ongoing, in a bid to ease the transportation of cane to the mills in Rakiraki, Ba, Lautoka and Labasa.
Mr Chetty said he understood that work has begun in most of the cane farming sectors and a second lot of local purchase orders would be issued soon.
The companies that are carrying out maintenance of cane access roads were awarded the contracts after registering their expression of interest with the Ministry for Sugar.
For the upgrading of cane access roads this season the Government has allocated $2 million for 38 cane growing sectors in the four mill areas.

By RANOBA BAOA

The Reserve Bank of Fiji is liaising with  the coinmaker of the $1 and $2 coins over the tarnishing or discolouration issues.
This after concerns were raised earlier this year from the public on confusion over differentiating either coins.
Central bank governor, Barry Whiteside in a release assured: “The RBF is currently liaising with the suppliers in arriving at an amicable solution to address this discoloration and sizing issue.
“As soon as an agreement has been reached with the suppliers, the RBF will further advise the public of any remedial action to be taken.”
However the public is additionally advised to take extra precautions when handling cash for making payments.
The coins however already had differentiating feature and this he said should be carefully taken note of while they are in negotiation with the coin makers.
“All the new Flora and Fauna coins, including the $1 and $2 coins, each have a unique feature which was specifically included to assist the visually challenged,” Mr Whiteside said.
“The edges of each coin are different. For the $1 or Saqamoli, the edge is “milled” with many uninterrupted grooves.
“In direct contrast, the $2 coin has a completely smooth edge, so you feel nothing but smoothness when running your fingernail across it.”

By WAISEA NASOKIA

Loloma Home was blessed on Tuesday night when Wyndham Vacation Resort sales and administration staffs donated close to $1,000 worth of gifts.
The sanctuary, a 15-minute drive from Nadi International Airport, houses nine single moms and 17 children, nine of whom attend school while the youngest is three weeks old.
The family was thrilled to receive items ranging from groceries, to kitchen ware including floor carpet, thermos flask and toys.
Resort Sales director Jason Bavister said: “The staff of sales and administration were looking for something to give back to the community, in return for what Fijian people do for us.
“They provide a great place for our guest to stay in with great environment also and I don’t believe this home has received the attention as other local places have.
“It was nice to come out here and see what was required first. Then we talked to the staff, we all chipped in money and we came up with what was required,” Mr Bavister said.
Loloma Home director Adi Laite Kubunadakai was overwhelmed with the kind gesture by the resort.
“I would like to thank the management and staff of Whydham resort for coming up to our home,” said Ms Kubunadakai.
“We are honoured and grateful for the gesture which involves giving up their time and their commitment.
“What they brought will certainly change our tomorrow here. We pray that the almighty God do bless their resort and their families.”
Mr Bavister said that talks were under way to host the kids for a day activity at Fun Factory on Port Denarau Marina next month.

Staff of Wyndham Resort with the residents of Loloma Home at Sabeto in Nadi on Tueday night. Photo: WAISEA NASOKIA

By RANOBA BAOA

Westpac institutional bank ranking shows the commitment of staff in providing excellent value for money, says Westpac Fiji general manager Adrian Hughes.
Mr Hughes highlighted this in regards to the bank being ranked number one in relationship banking and number in transactional banking as well for the 10th year.
The ranking was based on a survery carried out by Australia’s Peter Lee Associates.
“Westpac is proud of its transactional banking credentials,” Mr Hughes said.
“We are committed to making it easier for our customers to do their banking through offering market leading products to which provide excellent value for money.”
586 of Australia’s largest companies participated in the survey which enabled the survey company to tally the results fairly.
Westpac institutional bank chief executive Rob Whitfield in release said: “The survey is a clear acknowledgement that our customer-focused strategy continues to support our customers where it matters most.”
Additionall Mr Whitfield acknowledged customers across for their confidence in bank.
“To be voted number one by our customers is an achievement we are certainly very proud of and we are grateful to all our customers for recognising the service, the unique expertise and the institutional insights we provide.”
Transactional Banking

• No.1 for Lead Domestic Bank citations (10th year in a row)
• No.1 for Overall Customer Satisfaction (7th year in a row)
• No.1 for Relationship Strength Index across the total respondent base

Relationship Banking

• No.1 for Lead Domestic Bank citations
• No.1 for Overall Customer Satisfaction (5th year in a row)
•  No.1 for Relationship Strength Index across the total respondent base

An artist’s impression of the five-star integrated resort and casino originally planned on Denarau Island in Nadi.

By JYOTI PRATIBHA

Fiji’s first casino which was to be built on Denarau Island in Nadi will now be built at a different location, it was disclosed yesterday.
Also, a final extension of one week has been given to casino developer One Hundred Sands Limited to finalise arrangements.
Attorney-General Aiyaz Sayed-Khaiyum yesterday confirmed that the developers had sought a final extension of one week, which Government has approved.
“They have requested for an extension to the deadline. They have been given another week, until the end of next week to commence construction.
“They have also requested that they change the site where the casino will be built. So, we have given them that approval as well.”
The new site is believed to be closed to Denarau Island.
Mr Sayed-Khaiyum said the delays faced by the developers were partly due to unfavourable image of Fiji being portrayed overseas by some people.
“They have had some challenges in respect to some of the information that has been given out from various institutions from Fiji.”
This wrong information, Mr Sayed-Khaiyum said obstructed the company in raising funds.
He said wrong information about Fiji was being given by some lawyers and financial institutions.
“But not withstanding that fact that we are quite keen to ensure that the project does commence but we also have our limitations in terms of time constraints.
“We have given them the extension and if they don’t agree to it, we will obviously have to rethink the way forward, in terms of whether we call for new tenders and expressions of interest.”

Participants and facilitators of ANZ’s two-day workshop on ‘Understanding Treasury Management’ at Holiday Inn Suva on Wednesday. Photo: JONA KONATACI

By RANOBA BAOA

Fijian businesses are no different from other businesses world over and are exposed to risks, sometimes beyond a treasurer’s control.
Therefore mitigating these risks are imperative.
A two-day workshop which concluded on Wednesday organised by ANZ targeted the idea of helping 26 participants counter risks presented on a daily basis.
The workshop was facilitated by Treasury Training Services Pty Limited director and principal trainer Ivan St Clair from Australia.
ANZ Head of Global Markets Pacific Arjan Roukema said the focus was to deliver a course with very practical examples and practical user cases around monetary treasury management.
“The funding of a company to raise funds for investments and capital expenditure is an important factor and many think liquidity,” Mr Roukema said.
“So if you have incoming streams with the goods that you sell and outgoing streams for the purchases that you do, how you do make sure that you actually always have sufficient cash to pay for it.”
This, he said, was the crucial role done in any typical treasury.
Additionally, Mr Roukema alluded to another important part of the course on financial risk management.

Treasury management
Mr Roukema said: “As a company, typically you would be exposed to what we call financial market risks.
“Some of the these risks are for instance foreign exchange risks so this is risks from the movement of currencies like for instance the Fijian Dollar against the US Dollar.
“Another example is interest rate risk. So if you take on a loan for instance you have to pay interest but the interest rates are not always the same they change over time.”

The Fijian market
Mr Roukema said teaching the course gave Fiji’s growing entrepreneurship sector better insights to manage and mitigate risks unlike in recent times.
“One of the things we have been consistently developing in the Fijian market is specifically around the management of risks,” he said.
“We see a lot of the companies are exposed to these financial risks and historically these risks were not proactively managed.
“But from what we’ve seen over the last years and definitely what this course has been contributing to is a much better understanding.
“This is through knowledge of what these risks actually are, how these risks impact their business and what sort of instruments are available to manage these risks.”

Air Pacific acting chief executive, Aubrey Swift, has been relieving since the departure of Dave Pflieger last month.

By JYOTI PRATIBHA

The board of Air Pacific, soon-to-be rebranded Fiji Airways, is expected to announce its new chief executive before the end of this month.
The Attorney-General and Minister for Public Enterprises and Civil Aviation, Aiyaz Sayed-Khaiyum, confirmed this.
He said the board was making progress and was currently going through the vetting process.
“The board is making progress and they are going through their vetting process,” he said.
“I am sure they would announce to the public when they have found somebody suitable to take Fiji Airways forward.”
Following the departure of Dave Pflieger in May, Aubrey Swift has been acting chief executive of the national carrier.
Meanwhile, the national carrier would be officially rebranded to Fiji Airways on June 27.

Newly-appointed Bank South Pacific group chief executive, Robin Fleming (left) with BSP country manager in Fiji, Kevin McCarthy during a press conference in Suva yesterday. Photo: PAULINI RATULAILAI

By RACHNA LAL and RANOBA BAOA

Bank South Pacific (BSP) has indicated significant capital investment plans in its core banking system in Fiji.
This revelation was made by newly-appointed BSP group chief executive, Robin Fleming, during a press conference yesterday.
Mr Fleming told journalists the decision finalising the details of this investment would be confirmed when the BSP board are in Fiji on July 26.
“We will have the board here on July 26 and a decision will be made in respect for our core banking system to commit to that capital expenditure,” he said.
Mr Fleming said this would be a key systems upgrade for Fiji as the system they currently have is from the old Colonial National Bank which is extremely outdated and almost redundant.
He said the core banking system upgrade would essentially benefit customer-interaction with the bank amongst other benefits.
“This will be a significant change to the way business is done in Fiji and a very critical project which will take two and a half years,” he said.

Introducing products quicker

Mr Fleming said such core banking system upgrade in Australia has meant banks there now have the capacity to introduce new products far quicker.
“They can now introduce new products within a week. For us to introduce a new product, it takes six to nine months,” Mr Fleming said.

New products soon

Mr Fleming also highlighted plans by BSP to launch a new product called the ‘Easy Go’ which will only have a fee if you transact.
“One of criticisms from people in the rural areas is that their incomes are more sporadic,” he said.
“They hate to see their monthly balance get subtracted because of fees and see their balance go down until they can’t actually transact from their accounts.
“This account will have no monthly fee and you’ll only pay a transaction fee when you actually transact. So we think that it’ll be a very appropriate product for that area.”

By SERUWAIA WAQASAQA

The 2013 cane crushing season in the Labasa Mill is ready for cane processing on the 27th this month.
Labasa Mill manager, Karia Christopher, said farmers are preparing and looking forward for the crushing season.
He said the mill is well-maintained and ready for cane processing and they would ensure that there are no technical problems.

Farmers prepared
Meanwhile, sugarcane farmer, Kamla Prasad, said: “We have been maintaining the fields by cutting out the weeds and keeping the crops orderly and ready for cane cutting and look forward for the harvest.”
Mr Prasad said he is happy with the cane payment price for this season because money is there to plant cane again and pay labourers.
“It is a good payout and many of the farmers are very happy with the cane payment price and we expect another positive harvest,” he said
Mr Prasad said the railway trucks were ready and tractors will be used for cultivation.

By JYOTI PRTIBHA

Lorry drivers who transport cane have been given the green light to transport more cane from fields to the mills.
Fiji Cane Lorry Transport Association president Jitender Singh said they were happy with a number of outcomes of a meeting held between the association, Fiji Sugar Corporation and Land Transport Authority.
Mr Singh said they havefinalised the details with the other two stakeholders.
Under the memorandum of understanding signed yesterday, a five tonne lorry which was previously permitted to transport 10 tonnes of cane per trip will now be carrying 12 tonnes.
Furthermore, the requirements for lorry drivers to wear seat belts have also been relaxed for these drivers.
Also, the wheel tax concession that the lorry drivers and owners enjoyed, has been extended.
This extension means these lorry owners would pay wheel tax for nine months but get their renewal for 12 months.
Mr Singh said the payment of wheel tax would be done on installment.
He said such an agreement provided a ‘win-win’ situation for the Fiji Sugar Corporation and the association.
“With these initiatives, we will be able to transport more canes from the fields to the mills,” he said.
“Also, our lorry drivers would be at ease, now that we have reached further understanding with the Land Transport Authority as well.”

Permenant Secretary for Minstry of Lands and Mineral Resources, Tevita Boseiwaqa (third from left) and Korea Resort Company chairman, Y G Chang (second from right). Photo: ARISHMA DEVI

By ARISHMA DEVI and SHEIK DEAN

A five-year development lease has been granted to Korea Resort Company Limited yesterday to set up their operation extracting mineral water for export.
This after a due diligence survey was conducted by the Minerals and Resources Department on the company’s project at the allocated site in Nadelei,Tavua.
The Permanent Secretary for Ministry of Lands and Minerals Resources Department, TevitaBoseiwaqa, said the company has been given a go head on their mineral water project.
“The company showed interest investing in the bottled water company, and they registered their interest with the department,” he said.
Mr Boseiwaqa said the company and the Mineral Resources Department together identified good water source for the project after a lot of discussion.

The project plans
Korea Resort Company chairman, Y.G. Chang, said the project is to export pure mineral Fijian water to designated markets.
He said the company, after tests and experiments, has constructed two bore holes at the site in Nadelai in Tavua which will be a source of extracting mineral water.
“We will operate according to the violability of the source that means if the bore hole produces 9.6 litres of water per second then we are ready to commercialise within the given period,” he said.
Mr Chang said the company will have an allocation of its own market which includes Korea, China, Indonesia and India.
“We will conduct a survey in the area for commercial industry next week after which we will display our factory set up plan,” he said.

Economic boost
Mr Boseiwaqa stressed given the development lease, the company is expected to be a major contributor in Fiji’s economy within a few years.
There will also be an employment opportunities for the people of Tavua at the site and the factory.
Mr Boseiwaqa also highlighted that within the given period, the company must come in to its operational phase as it will then approve of the long term lease for work to continue.

By RANOBA BAOA

BSP Life is continuing to grow its presence in Fiji and this time by introducing a tailor-made product to add to its diversified product range.
The new Bula Elite insurance policy product aims to meet the needs of customers for short term, medium term and long term financial plans.
Over 100 guests, customers including the President Ratu Epeli Nailatikau converged at the Pacific Islands Forum Secretariat as the product was officially launched on Thursday evening.
Reserve Bank of Fiji Governor Barry Whiteside said the product is a clear indication of BSP Life’s commitment in improving insurance policies here.
“The launch of another Life product is a further endorsement of the BSP Group and the key role it plays in Fiji’s financial system,” Mr Whiteside said.
“It is clear that BSP Life has strongly established itself in life and health in the Fijian market over such a short period of time.
“This is again a testament to BSP Life’s focus where products and services are developed to provide value to customers.”

Complement for other products
BSP Life managing director Malakai Naiyaga said the product complements Bula Scholar further enhancing its features.
“Bula Elite picks on the excellent features from Bula Scholar then incorporates a shorter regular payout plant which continues throughout the policy term,” Mr Naiyaga said.
“We are confident Bula Elite will assist many of our customers fulfil their future financial goals, whether personal or business-related.”

Extensive research
The product which received a lot of interest prior to its launch is a result of two-year extensive research collated via BSP Life’s sales advisor network.
“The sum insured and premiums can be tailored to suit your needs,” Mr Naiyaga added.

Ronald Sewak puts Fiji Dairy’s new Fresh Milk one-litre PET bottles into the Shop N Save supermarket fridge and affixes the price tag of $2.95. The two-litre milk is expected to be delivered today.

By RACHNA LAL

Fiji Dairy Limited has brought fresh milk back to the supermarkets.
Marketing director, Nathan Hildebrand, said this will at first be available in certain supermarkets in the Suva area.  The distribution will gradually roll into other parts of the country as production allows.
Fresh milk from Fiji Dairy is available from today at MHCC Supermarket, MH Superfresh in Tamavua and Shop N Save in Nabua.
Distribution is also expected to be rolled out to NewWorld Supermarket in Valelevu and RB Centre Point store by next week.
The fresh milk will be available in one litre and two litre PET bottles.
“So obviously it’s a reusable bottle, a recyclable bottle and it’s fresh milk so it tastes much better,” Mr Hildebrand said.
Overcoming issues
Mr Hildebrand said originally, years ago the-then-Rewa Dairy was producing fresh milk.
He said this had stopped because of supply issues and quality control issues as far as maintaining the temperature throughout the supply chain.
Now under new ownership and improved management, it is back.
“We’ve addressed those issues and we’ve made sure that we’ve brought in specific designed cooler trucks,” Mr Hildebrand said.
“We have just bought a whole lot of chillers that will be installed to make sure that the integrity of the product is maintained.”

Price of fresh milk
Mr Hldebrand said from a price point of view, the fresh milk is extremely attractive.
“One litre costs $2.95 and a better offer is that the two litre costs $4.95 which is a little under $2.50 per litre,” he said.
“So the two litre is extremely economical because it’s much cheaper than buying a one litre.
“The issue though is that it must be kept in the fridge at four degrees Celsius or below to make sure that the integrity of the product is maintained.”

Clotting issue now over
Mr Hildebrand said the issue with milk clotting in the Rewa liquid milk packets has now completely been eradicated by flying in new equipment.
“We are very closely monitoring the output of the product that has been going out since the introduction of the machine and we haven’t seen any clotting at all so it’s very good,” he said.

JUSTIN SMIRK -A Senior Economist with Westpac’s Economic Research team and has 17 years experience in Australia’s Financial Markets. r He joined Westpac in 1999 following his early training as an Economist at the Reserve Bank of Australia. r Since then Justin has had a varied experience with Westpac working with and advising traders, dealers, Treasury as well as Westpac’s institutional, corporate and small business clients. r He has spent time in Westpac’s London office as Senior International Economist and in 2010 he had a twelve month secondment as Chief Economist at St. George Bank. r On his return to Westpac, Justin’s focus turned to the labour market and prices but he also keeps a keen eye on the international economy and in particular commodity markets and the resources sector. r He also canvasses issues related energy, carbon and the environment.

Compiled by RACHNA LAL

Welcome to Hard Talk, where we pose questions to both top executives and budding entrepreneurs on some of the major issues involving business.

The Governor of the Reserve Bank of Fiji has rightfully pointed out that with Fiji being an open economy, global events will find its way back here in one form or another.
But the recent slowdown forecast for most of our trading partners has not affected Fiji’s recent domestic output and forecasts.
Our gross domestic product (GDP) growth forecast for this year has been upgraded to 2.7 per cent as opposed to 2.5 per cent forecast last year.
And while it is known that investment is the driver of growth, it is the private sector that has been recognised as the engine.
Governor Barry Whiteside has indicated that this year, growth is being led by agriculture, manufacturing, finance and construction sectors.
A critical part for these sectors however is the banking sector which provides loans for projects to progress, therefore a bank’s commitment becomes critical for growth.
We now have five banks in the country with one more due to open by next year.
But no-one will be able to take the title away from Westpac Fiji as the longest-serving bank here which will be turning 112 in August this year.
The bank started its operations in 1901 and today proudly boasts a significant portion of market share in Fiji.
We spoke to Westpac senior economist Justin Smirk who has 17 years of experience with Australian financial market.
Mr Smirk was recently in Fiji as a speaker during the Fiji Institute of Accountants congress and speaker at two Westpac-organised economic forums in Suva and Lautoka.

Questions for Justin Smirk, senior economist at Westpac Banking Corporation:

1. How would you describe the current economic climate in Fiji when compared to say 10 years ago?
It is very hard for me to make a fair judgment on the economic climate compared to where it was 10 years ago as I had no exposure to the economy then.
The best I can say is the year I have been visiting Fiji, there appears to be embryonic sign of growing optimism inside Fiji. This very early development of a more positive business sentiment is something that should be nurtured and encouraged.

2. What would you say can be done to grow the economy further?
Encourage investment by reducing the complexity of doing business in Fiji would a very easy way to gain faster growth. And focus on what you do best first and promote and nurture such industries before moving into new and more exotic industries.

3. What are some areas in which potential exists to grow the economy?
Tourism has room to grow, not just by capturing more market shares in the existing markets but by also expanding into opportunistically into new markets.
Given low labour costs, and central location in the Pacific region, there is scope for opportunistic manufacturing for food production, small lines of fast fashion as well as the development of a regional business services hub.

4. As someone with 17 years of experience with Australian financial market, how would you describe the Fijian banking sector?
It is a developing industry that is currently based on provision of saving and lending products. There is scope for the industry to grow further but this would also require further work to improve the financial literacy of a large part of the population.
The development of mobile banking solutions will also go a long way to bring financial services to remote locations.
5. We currently have five commercial banks and one more might be starting by next year.  What’s your view on having so many banks in the country with an economy our size?
It is not the number of banks that matter but the behaviour of the banks that counts in regards to overbanking. An overbanked economy normally exhibits excess credit growth as banks lower credit standards, and margins, in an attempt to grow market share from a limit pie. This does not appear to be the case in Fiji.

6. As someone who closely monitors the financial markets, how much is Fiji dependent on the financial assistance we get from Australia and New Zealand?
The financial assistance from Australia and New Zealand does provide a valuable contribution to the Fijian economy. But far more important to Fiji is the trade and business links between the three nations.
While expanding Fiji’s trade and business opportunities beyond it two largest neighbours is a strategic move, easy gains can be made by improving the linkages between these three economies due to deep historical, social and cultural relationships, something that would require decades to build with other nations.

7. After the Fijian dollar was devalued a few years back, what sort of impact (positive and/or negative) has it had on Fiji?
The fall in the Fijian dollar naturally makes Fijian exports more competitive but it also raised the price of many goods that Fiji has to import so it is an inflationary move. It also lowest the value of Fijian assets so Fijian are then less wealthy relative to other countries.
In addition foreigners who hold Fijian assets find their wealth has been reduced by the fall in the currency. But local manufactures and service providers would now look more competitive to imported alternatives. As with many things in economics there are always winners and losers.

8. If the Fijian dollar becomes stronger, what will this mean for Fiji?
The first question I would ask is why do you want a stronger dollar? As noted there are always winners and losers and in this example they would just be the reverse of above.
Generally however, a stronger currency is associated with rising productivity, rising incomes (relative to the rest of the world) and improving international financial balances – i.e. running current account deficits and accumulating net asset rather than net debt positions.

A new artist’s impression of the Casino and Convention Centre which will be built near the entrance of Denarau Island but not on the island. The property has been secured from the Sofield family. Image: ONE HUNDRED SANDS LIMITED

Developers speak on progress, explain change

By RACHNA LAL and JYOTI PRATIBHA

The new site for the delayed and much-awaited casino project has been identified.
The site is less than one kilometre before Denarau Island in Nadi and has been the family property of Nadi-based architect, Adrian Sofield.
Mr Sofield confirmed a memorandum of understanding has been signed with the casino developers, One Hundred Sands Limited, for the sale of the property.
He said the land has already got approval for tourism development from the Town and Country Planning committee. This is for the convention centre and the casino.
The new site is on about 20 acres of land of which, about three acres is freehold land while the rest is crown lease.
Mr Sofield said the land is 318 metres from the main road which provides access to Denarau Island.

Claunch responds finally
The chairman of One Hundred Sands Limited, Larry Claunch yesterday confirmed details to the Fiji Sun.
He said the Casino and Convention Centre will be built near the entrance of Denarau.
The initial site for the casino was on Denarau Island.
The initial site for the casino was on Denarau Island next to Wyndham Vacation Resort. This would have practically been the last lot after all the other resorts on the island.
Mr Claunch informed the Fiji Sun from USA that the reason for the change in site is because of their focus on future of the casino and the need for visibility.
“The site we have chosen is the best site as we would be seen by everybody who enters Denarau,” he said.
Mr Claunch revealed the overall budget for the project remains $290 million.

Construction and completion
The casino construction was supposed to have started last year with opening expected by October this year.
Mr Claunch said he was happy to announce that the works are now underway to construct Fiji’s first casino.
He said clearing works was to have started on the site yesterday.
“The Casino and Convention Centre will take 12 to 15 months for completion after which we will start with the construction of the 300-room resort,” Mr Claunch said.
“While there have been unexpected road blocks thrown in our way in the past, we prefer to look to the future with great excitement.”

Investment from abroad
One Hundred Sands Limited has secured financial investment from places such as the USA, Singapore, New Zealand and Europe.
Mr Claunch said their addition to the already substantial investment has demonstrated the confidence the world financial market has in the direction and future of Fiji.
“Fiji has a solid economic base and a progressive government and it is this environment which has attracted financial investments from around the world,” he said.

Details of the casino
Mr Claunch said the casino would be a modern masterpiece based on all the latest casino technology from around the world.
“In addition to the Casino, a-state-of-the-art Convention Centre and Performing Arts centre will be built,” he said.
“The Convention Centre will be able to seat over 1500 people and provide the largest space in Fiji for business conventions and trade shows.”
Mr Claunch believes this Casino Resort and Convention Centre will bring an added dimension to the already thriving tourism sector.
“With this venue, we will also be able to attract entertainers from around the world,” he said.
“Fiji is a fantastic location for companies to hold conventions which will bring in a whole new tourist market. Up to now, these large groups had to be turned away.”

Government role praised
Mr Claunch has praised the Fijian Government for their role in the casino project which will be a first for Fiji.
“Many ministries and departments have been involved in the decision making process at the outset,” he said.
“The exhaustive selection process saw One Hundred Sands being granted the Fiji Casino license.”
He acknowledged their support to create the structural and strategic platform for the development.
“Putting all this together to achieve the best possible outcome has been an extraordinarily complex process,” he said.
“It has required patience and new thinking, and that has been possible only with the contribution and support of all those involved, at all levels.”

Socio-economic benefits
Mr Claunch praised Government’s vision to establish a community fund and to administer the very substantial contribution that the casino will make.
He said this will be done through a percentage of its profits and will benefit the socio-economic development of Fiji and all Fijians.
“This will carry on throughout the term of the license therefore benefiting current and future generations,” he said.
Mr Claunch will be in the country over the next few weeks.