FSC requests government to consider conversion of loans
October 8, 2018 12:35 am
The Fiji Sugar Corporation is requesting government to consider and implement the conversion of government loans currently totaling to $173.8 million to shares in FSC and to propose the acquisition of minority shares.
This was highlighted by the FSC Chair Vishnu Mohan who says that they had requested the government during their last Annual General Meeting.
Government is also a major shareholder in FSC.
Mohan says that KPMG was engaged to carry out a capital optimization review which was completed earlier this year and they are now working with the Government to implement the KPMG conclusions.
He says they will advise the shareholders when they are ready for implementation of this change to their capital structure.