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Fijian Holdings Ltd (FHL) has announced the incorporation of two wholly owned subsidiaries in Papua New Guinea.
Pasifika Holdings Ltd and Pasifika Finance Ltd will become FHL’s first overseas subsidiaries in its 25-year history said managing director Sereana Qoro.
“It is critical for FHL to look beyond Fiji for future growth while maintaining our investment portfolio in Fiji,” said Qoro in a statement.
“FHL will continue to explore investment opportunities in Fiji as well as in other Pacific countries in order to create sustainable and consistent value for our shareholders,” she added.
Pasifika Holdings Ltd will focus on trading and possible acquisitions in PNG while Pasifika Finance Ltd will be applying for a licensed credit institution status with the Central Bank of PNG.
FHL Group senior manager Josese Daveta has been appointed Manager Pacific Operations and will be based in Port Moresby to oversee the PNG operations.
Qoro said FHL will begin exporting cement and cement products to PNG from August.
