Fijian Holdings Trust Management Limited (FHTML) is pleased to announce strong results for its two unit trust products - the Fijian Holdings Unit Trust which is a diversified income and growth fund and Fijian Holdings Property Trust Fund which is the first property trust Fund in Fiji. Fijian Holdings Unit Trust Fijian Holdings Unit Trust (FHUT) declared a final dividend of 1.54 cents per unit for the financial year ended 30 June 2007. The payment of final dividends will be made on 31 July 2007 totaling $680,863. In announcing the final dividend, the Chief Executive Officer, Mr. Jaoji Koroi mentioned that the positive results had been achieved against a backdrop of challenging political and economic conditions. Mr. Koroi also highlighted that FHUT had recorded a total return of 10.65% comprising of 4.96% dividend return and 5.69% growth return. Inclusive of the final dividends, a total of $1,418,402 would be paid to around 3,000 unit holders for FY07 compared to $1,238,221 paid in FY06 - an increase of 14.5%. Funds under management for FHUT at 30 June 2007 totaled $28 million, invested over a mix of listed and unlisted companies, term deposits and Government guaranteed bonds.

 

	FY 2007	FY 2006
Dividend Return (%)	4.96	4.48
Growth Return (%)	5.69	5.76
Total Return (%)	10.65	10.24

Fijian Holdings Property Trust Fund In its first full year of operation, Fijian Holdings Property Trust Fund (FHPT) recorded a positive year despite the negative effect of the removal of tax concessions, by the Interim Administration, on FHPT income effective from January 2007. FHPT declared a final dividend of 1.7 cents per unit for the financial year ended 30 June 2007 after deducting income tax at the rate of 31% from operating profit of FHPT. The payment of final dividends will be made on 31 July 2007 totaling $190,248. Mr. Koroi clarified that including the final dividend, unit holders would have received $525,981 in dividends for the year, which equates to 4.90% dividend yield. FHPT also recorded a growth return of 2.88% yielding a total return of 7.77%. In closing, Mr. Koroi stated that the next twelve months would be difficult in view of current economic environment. "However, we are optimistic and we want to reassure our unit holders that we would do our best to return a competitive yield for your investment," he concluded.

12 July 2007
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