Fiji Time: 8:53 PM on Thursday 21 September

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 0.61980.6008
JPY 56.966953.9669
GBP 0.37130.3633
EUR 0.42260.4106
NZD 0.68950.6565
AUD 0.62940.6044
USD 0.50450.4875

from

$0.00

Exchange Rate updated on 22nd, August, 2017

Today's Most Read Stories

  1. 149 dead
  2. Resort's legacy
  3. Chaudhry: Decision not surprising
  4. Battle for captaincy
  5. State accused of wage 'blackmail'
  6. Early education boost for villagers
  7. Ex-cop fronts court
  8. Shakes around the region
  9. Bainimarama reassures French President
  10. FLOTSAM AND JETSAM

Top Stories this Week

  1. $16k dream holiday Monday (18 Sep)
  2. The fee to kill Tuesday (19 Sep)
  3. Mysteries of the floating island Wednesday (20 Sep)
  4. Coffee shop with a class Friday (15 Sep)
  5. Teens hurt in brawl Saturday (16 Sep)
  6. Nawai's prophecy Friday (15 Sep)
  7. NFP leader under fire Friday (15 Sep)
  8. Head teacher in court for sexual assault Monday (18 Sep)
  9. Pay rise deal Wednesday (20 Sep)
  10. Man freed from prison Tuesday (19 Sep)