$500k dividend paid to Government by FPTCL

Permanent Secretary for the Ministry of Public Enterprises Jitendra Singh (centre) delivers his presentation during the Standing Committee on Public Accounts at the Parliament Complex in Suva yesterday. Picture: JOVESA NAISUA

Permanent Secretary for the Ministry of Public Enterprises Jitendra Singh (centre) delivers his presentation during the Standing Committee on Public Accounts at the Parliament Complex in Suva yesterday. Picture: JOVESA NAISUA

A DIVIDEND of $500,000 for the year 2017 was paid to Government by the Fiji Public Trustee Corporation Limited yesterday.

Permanent Secretary for the Ministry of Public Enterprises, Jitendra Singh in a statement said FPTCL’s ability to pay dividends to the Government over the past years is attributed to the hard work, commitment, sound management and good governance by the Corporation.

“For the 2017 financial period in particular, FPTCL reported a Net Profit After Tax (NPAT) of around $456,000, which is almost an 18% increase from the NPAT of around $386,000 achieved in 2016,” Mr Singh said.

“This is the third dividend pay-out by the FPTCL since its incorporation in 2006. The Corporation has since then paid $5million as dividends to the Fijian Government.

“The growth of FPTCL is a positive sign for its shareholder and such progress is expected to render even greater financial returns in the coming years,” he said.

Meanwhile chairman of the Corporation, Sunil Sharma said FPCTL will continue to modernise its trends such as the digitisation of records maintenance and our workflow management systems.

“As a progressive business, FPTCL has moved from the traditional administration services and now includes estate planning, financial administration and management together with advisory services on wealth transfer requirements to the people of Fiji,” Mr Sharma said.

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