Inter-Island vessel MV Lau Trader unloading at Port Mua-i-walu on Westerday. The MV Lady Sandy is also pictured (closer to camera) berthed at the port. Photo: RONALD KUMAR.
By RANOBA BAOA
The Lau Provincial Council is hiring the services of an accounting firm to help manage the financial position of its ship MV Lau Trader.
This was confirmed by Lau Shipping Limited director Viliame Cavubati.
Not wanting to mention the name of the firm just yet, as they finalise the deal, Mr Cavubati said they are confident this deal will restore the financial status of the vessel and its operations.
“The Lau Provincial Council has appointed chartered accountants to audit and put in place a financial system of the MV Lau Trader’s current financial management,” Mr Cavubati told Sun Business.
“The company was almost insolvent with poor management by recent directors and we are trying to position ourselves back to positive operations.
“All we trying to do is set the boat going to serve the people of Lau and at the same time give back to the shareholders.”
The company was previously managed by its other major shareholder, Ikavuka Limited, which is controlled by members of the chiefly Mara family.
Lau Provincial Council and Ikavuka both hold 40 per cent of the shares and Lakeba tikina 20 per cent.
The vessel arrived at Port Mua-i-Walu in Suva yesterday loaded with 125 passengers and 100 tonnes of cargo from Lau. Actual cargo capacity is 350 tonnes.
Meanwhile Mr Cavubati added: “We were served today with papers trying to restrain us from continuing our services to the Lau people.”
This comes amidst divisions amongst the shareholders. Lau Shipping Company recently criticised a Fiji Times report that the MV Lau Trader had suffered mechanical problems and was adrift at sea for 13 hours after departing Suva.
Mr Cavubati, who was on board, clarified to the Fiji Sun that the boat had suffered electrical problems. But it was stopped for three hours only while the electrical system was checked and restarted.
The vessel is due back to sail May 21 if everything goes well.