Fiji Time: 1:41 PM on Sunday 22 January

Fiji Times Logo

/ Front page / News

$300,000 in bonus payment for landowners

Repeka Nasiko
Friday, February 28, 2014

TO STRENGTHEN ties between landowning units and the pine industry, the Fiji Pine Group of Companies awarded 40 mataqali lease security bonuses worth about $300,000.

In a handover ceremony in Lautoka yesterday, landowners from Sigatoka, Nadi and Ba were each given about $7500 in bonuses.

Fiji Pine executive chairman Faiz Khan said the lease security bonus payment was for landowners who had leased land to the company that either had pine plantations on it or had at least 15 years of lease term left.

"The payments being made are at $5 per hectare or denotes a 45 per cent bonus on the agreed ground rent amount per year," Mr Khan said.

"The total amount being made is about $300,000."

He said the payment was anticipated to increase.

"This amount is expected to grow to $1million from next year and even great thereafter.

"The amount that is given will depend on the profitability of our business — it is a form of dividend.

"Our profitability in turn depends on the ability to keep cost structures at efficient levels and continue to grow our business."








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.64860.6296
JPY 56.520053.5200
GBP 0.39340.3854
EUR 0.45650.4445
NZD 0.68440.6514
AUD 0.64750.6225
USD 0.48910.4721

from

$0.00

Exchange Rate updated on 20th January, 2017

Today's Most Read Stories

  1. 'On that stage'
  2. Truck mows down man
  3. India ready to help in polls
  4. 'Life is precious'
  5. Vendors locked out as police hunt for drug peddlers
  6. 'Cheap' machines
  7. 7s surprise
  8. Cancer survivor thankful
  9. Another opportunity
  10. Scheme for labour shortage

Top Stories this Week

  1. Radrodro cops $10k fine for facebook rant Wednesday (18 Jan)
  2. Gunshot injures officer Saturday (21 Jan)
  3. Ministry to defend its workers Wednesday (18 Jan)
  4. Fiji 7s team to Wellington named Thursday (19 Jan)
  5. Moving tributes farewell Johns Saturday (21 Jan)
  6. Fijian Jimmy Snuka dies Wednesday (18 Jan)
  7. Kiribati grateful to Cakaudrove Tuesday (17 Jan)
  8. Bad weather approaches Friday (20 Jan)
  9. Fire breaks out in Nadi Town Thursday (19 Jan)
  10. The rise of Goundar's shipping empire Monday (16 Jan)