FSC will continue to sell non-productive assets such as land and idle buildings

FSC will continue to sell non-productive assets such as land and idle buildings

By Dhanjay Deo
Monday 18/01/2021
Fiji Sugar Corporation CEO Graham Clark. [Image: File Photo]

The CEO of the Fiji Sugar Corporation, Graham Clark says FSC has many non-productive assets such as land and idle buildings and they will continue the process to sell these as part of their debt reduction and capital optimization plans.

Clark says these will only be sold for the right price and to the right buyer.

He says to date, they have sold some residential properties and office buildings.

The Chairman of the FSC, Vishnu Mohan has revealed that to further reform FSC’s balance sheet, improve liquidity and ensure FSC’s ongoing viability, the Corporation resorted to selling unproductive land and properties through an open tender process.

He says this initiative has been positive with proceeds from sales totalling $25.93 million in the last financial year.

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