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$1.22m bonus

Ropate Valemei
Friday, February 08, 2013

THE Yaqara Pastoral Company Ltd (YPCL) presented its first dividend payment of $1.22million to government at the Ministry of Public Enterprises in Suva yesterday afternoon.

Company chairman Peter Drysdale said they hoped to present a similar cheque before May this year for the subsequent year.

"It's been a period of consolidating operations with spending on fencing, stock yards, subdivision of the estate and making better management of stock," he said.

"For the estate, it would be subdivided into four operating sub-units. We now have the largest sheep herd in Fiji with 900 herds of sheep. Sheep is becoming a rising star on our estate."

For cattle sale, Mr Drysdale said they recorded $70,000 for the month of December last year.

Attorney-General and Minister for Public Enterprises, Industry, Investment, Tourism and Communications Aiyaz Sayed-Khaiyum said Yaqara had progressed comparatively well in terms of performance of the years.

"The 2011 account has already been audited and is going through the processes and we hope to get a similar amount if not greater for the year of 2011," he said.

He said the mix of livestock available on the farm was changing compared to when the company started off with predominantly cattle.

"They have an exponential growth in sheep numbers and is proving to be a very attractive proposition."

Mr Sayed-Khaiyum said there were other proposals earmarked for Yaqara Pastoral in terms of expanding or consolidating its operations.

He said they were looking forward to working with the company.





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