New management company of Methodist Church in Fiji expected to generate $7.14M in 18 months

The total cash income expected to be generated from the new management company of the Methodist Church in Fiji in 18 months is $7.14 million.

This was revealed by the Lako Yani Management Limited General Manager Sereana Qoro during the management’s presentation at the Methodist Church Conference.

Qoro says this income will come from the 10 pieces of land that the Church owns, and has developed 8 for income generation.

The Methodist Church says their new project which is the Lako Yani Management Limited, is built around valuable property the church owns in many parts of Fiji which ranges from agricultural land, commercial and residential lots.

They had said that they have lacked a co-ordinated and professional approach to managing these holdings.

The Methodist Church says following this initiative by the Church leadership they are now moving to establish a property business designed to provide significant income and profits.

Qoro says these land lots are in Kaba Island in Nadroga, Caqalai Island in Moturiki, Vunidilo in Yasawa, a piece of land at Saint Fort Street Suva, 338 acres of land in Navuloa in Bau, 670 acres of land in Navuso and 368 acres in Nakadi in Naitasiri.

She says the others are 160 acres of land in Muanisei, Naitasiri, a piece of land in Nacotu, Ba, and a 36 acre land in Levuka, Ovalau.

Qoro says these initiatives should be taken by the church members in a positive manner as many questions were raised about the selling and leasing of these land lots that belong to the church.

Questions were also raised on the decision of the Lako Yani Management Company Board to sell the car park land at Saint Fort Street in Suva.

Members of the Church also raised the issue of parking along the Centenary Church and selling the land will not do any good to the problem of parking.

Qoro says there is no other option but to sell the land because it was part of an agreement and a joint venture.

She says when the car park land is sold, 10 percent of their profit will go to the government.

Lako Yani Management Limited is chaired by former Prime Minister Laisenia Qarase and its board members include former Finance Minister Ratu Jone Kubuabola, former Inland Revenue Commissioner Tui Mailekai and SODELPA MP Josefa Dulakiverata.