The South Pacific Stock Exchange has received details of Fijian Holdings Limited's corporate governance audit report today after the suspension of FHL's trading yesterday.
Stock Exchange chief executive officer Jinita Prasad said they have received positive feedback from the company but need further clarification on the matter.
She said if FHL provides all the relevant information by this afternoon, the suspension can be lifted.
Earlier this month, FHL CEO Sereana Qoro and chairman Isoa Kaloumaira were asked to step aside to allow for a corporate governance audit to be conducted, only to be reinstated hours later after the audit was complete and a report was handed to the Prime Minister’s Office.
FHL also signed a memorandum of understanding earlier this month to fund the construction of the new police headquarters in Suva at a value of $20million to be paid over 20 years.
And just last Friday, FHL announced that the deal to purchase BP South West Pacific has been terminated as it failed to secure the $190million needed for the acquisition.
It was also announced that BP South West Pacific will refund FHL's deposit of $25million.
FHL CEO Sereana Qoro and chairman Isoa Kaloumaira are yet to comment on the suspension.
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Positive feedback received from FHL-SPSE
