29 November, 2022, 8:58 pm Central - 25°C Rain

FNPF has 2 reps on the Healthcare Fiji board despite having 80% shares - FNPF
There are protections in place for FNPF - CEO

FNPF has 2 reps on the Healthcare Fiji board despite having 80% shares - FNPF

There are protections in place for FNPF - CEO

By Rashika Kumar
Thursday 25/08/2022

With 80 percent shares in Healthcare Fiji, the Fiji National Provident Fund has only 2 representatives on the board while Aspen Medical with their 20 percent shares, has 3 members.

This has been confirmed by FNPF CEO, Viliame Vodonaivalu following concerns raised by National Federation Party Leader, Professor Biman Prasad.

In a statement, Prasad questions the governance and control of Health Care Pte. Ltd and asks whether it is true that the 5-member Health Care Ltd Board is controlled by Aspen with 3 members while FNPF, which owns 80 percent of the company, has two members.

He says FNPF has pumped the funds into Health Care Pte Ltd in which FNPF has 80 percent stake with 20 percent owned by Aspen Medical, that was selected as partners to manage Lautoka and Ba Hospitals.

He claims Aspen also borrowed $424,000 from FNPF.

Prasad asks if the the initial agreement between FNPF and Aspen amended to accommodate out-sourcing or has a totally new agreement now rendered the original deal meaningless just because Aspen is calling the shots on the board.

While responding to questions by Legend FM News, Vodonaivalu says FNPF has only 2 representatives on the board while Aspen has 3 as this allows operational control for Aspen on Health Care.

He says however, there are protections put in place for FNPF so Aspen cannot undertake those decisions on its own, even with 3 nominees on the board.

Vodonaivalu says FNPF appoints the chairperson of Health Care and there are reserved matters on key decisions with regards to Health Care that will require FNPF Board nomineesโ€™ approval as well.

He also confirmed FNPF has allocated $10.1 million to Aspen over the last 3 years based on their 80 percent shareholding.

The CEO adds Aspen has not borrowed $424,000 from FNPF.



Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15โ€™s following their 21-17 victory against South Africa.
41 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
71 days ago

Fiji wins Melrose Cup after 17 years
Fiji wins the RWC 7s title after 17 year drought
72 days ago
FEATURE NEWS
Rabuka and Chaudhry take to TikTok to reach out to potential voters while Bainimarama posts that he is not here to dance
Some leaders like Peopleโ€™s Alliance Leader, Sitiveni Rabuka and Fiji Labour Party Leader, Mahendra Chaudhry have taken to TikTok to promote the init...
4 hours ago
LATEST NEWS
Commonwealth Lawyers Association concerned over the invoking of criminal contempt for scandalizing the court against Richard Naidu
The Commonwealth Lawyers Association is concerned over the invoking of criminal contempt for scandalizing the court against lawyer Richard Naidu, ...
4 hours ago

Chaudhry asks Sayed-Khaiyum to show evidence of where Chaudhry is asking people to vote for him because they have Hindu blood
Fiji Labour Party Leader Mahendra Chaudhry is asking FijiFirst Party General Secretary, Aiyaz Sayed-Khaiyum to show evidence where he had claimed ...
4 hours ago

Tower Insurance plans to create 100 new jobs in Fiji
Tower Insurance plans to create 100 new jobs in Fiji in their 2023 Financial Year. This was stated by Tower CEO Blair Turnbull, who says they now ...
6 hours ago

Chaudhry, Prof.Prasad, Kamikamica, Cama and Narube confirm their participation on fijivillage Straight Talk at 7pm tomorrow
The countryโ€™s economy and how it affects the people matters to everyone. Since it is a critical issue for Fiji, a special fijivillage Straight ...
6 hours ago

30-year-old man alleged to be involved in Savusavu aggravated robbery, arrested
A 30-year-old man who is alleged to be involved in an aggravated robbery case where he and three others stole a taxi in Savusavu last week has been ...
6 hours ago

TOP