Berry Road Apartments in Suva which is one of the properties owned by Yatu Lau Company Limited. Photo: YATU LAU COMPANY
SUVA
The possibility of listing on the South Pacific Stock Exchange was one of the topics discussed by Yatu Lau Company Limited at its annual general meeting on Friday.
This has been indicated by the company through a press statement released yesterday.
The company secretary, Akuila Savu, advised that the annual meeting also approved the formation of a committee to look into the review of the company’s Articles of Memorandum of Association.
This, he said, was with the view to meeting all requirements of the company on the stock exchange at a future date.
Mr Savu confirmed to the Fiji Sun they are in the process of looking into this. However, he said this was something which was being discussed since 2007.
“There are requirements we need to adhere to and therefore it might take us a year or two,” he said.
Mr Savu said listing on the stock exchange would have two benefits.
“First you can trade your shares and secondly, there can be capital being raised publicly which will mean additional funding,” he said.
Good 2013 performance
Meanwhile, the chairlady of Yatu Lau Company Limited, Adi Koila Mara Nailatikau, expressed her appreciation for the good results generated in 2013 with a pre-tax profit of $5.239 million.
She added the consolidation work in prior years had worked out well for the company together with the reformulation of its strategic direction to ensure increased revenue and the implementation of cost cutting measures.
A dividend of three per cent per share was also approved at the annual general meeting.
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