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Fiji equity-investment management company Kontiki Growth Fund (KGF) says it is working with its investee companies to stabilise its finances.
Following that, KGF managing director Griffon Emose told FijiLive the company would then look to find and exploit growth opportunities for all its five investee companies.
Of particular reference were developments on investments in Savusavu Harbourside and Oceanic Communications, both of which recorded decreased sales in KGF’s 2008 financial year.
He said talks were already happening with new investors on new proposals for the Harbourside project - a $250,000 investment in the development of an upmarket mixed complex in Savusavu, north of Fiji. It saw cancellation of presales and leases following the recent takeover.
“For OCL, the company is developing its US business opportunities, example: foreign clients engaging OCL to develop websites and other communications-related products,” Emose told FijiLive.
“This is an area of growth for OCL, which has excellent programming and development skills in-house as well as a lower cost structure compared to US competitors.”
When asked on a timeframe KGF aimed to achieve a turn around of performance, Emose said much would depend on how the political and economic conditions in Fiji panned out.
“…as until Fiji sorts out these issues, business and investment in general will continue to suffer. Our focus in the meantime is work with investee companies to first stabilise their finances, then look to find and exploit growth opportunities,” he said.
At the KGF annual general meeting in Suva last week, Emose admitted that KGF experienced a difficult economic condition through the 2008 financial year.
