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Fiji Time: 6:51 AM on Friday 18 April

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SPSE targets visibility

Geraldine Panapasa
Friday, January 11, 2013

THE South Pacific Stock Exchange will continue to work closely with the Fiji Revenue and Customs Authority to ensure issues relating to capital market investments are in order.

In the SPSE stock market report 2012, chief executive officer Jinita Prasad said clarifying those issues would allow the exchange to better inform investors and shareholders on potential tax implications.

"The exchange will continue to enhance its visibility at the international level with a view to attract more foreign investor interests in our market together with its continued effort in scaling to new heights by developing an investment culture in Fiji," she said.

"SPSE has focussed essentially on listing of shares, convertible notes and bonds. Going forward, the exchange envisages listing of depository receipts for which SPSE and the relevant counterparts are in the process of carrying out feasibility studies and formulating the necessary regulatory frameworks."

Meanwhile, Ms Prasad said the overall total market return of the entire stock market last year averaged 6.53 per cent compared to an average total market return of 8.75 per cent in 2011.