In a joint statement issued today, Fijian Holdings Ltd and Tropik Wood Ltd announced that Fijian Holdings Ltd has signed a management agreement with Fiji Pine Ltd to manage Tropik Wood Ltd. Tropik Wood Ltd is a subsidiary of Fiji Pine Ltd and is the largest softwood processor in the country with facilities for Timber Processing, Chip Production and Round-wood processing.

“The 24-month agreement would facilitate FHL to manage operations of Tropik Wood Ltd with the objective of improving operational excellence and inculcate good corporate governance practices”, says Ratu Tevita Uluilakeba Mara, Chairman of Tropik Wood Ltd and Fiji Pine Ltd.

As per the agreement, FHL would be paid a nominal fixed management fee coupled with an incentive payment based on pre-tax profit.

“It is an ideal opportunity for FHL to optimize group resources and to venture into the business management arena outside of the FHL group”, added Mrs Sereana Qoro, the Managing Director of Fijian Holdings Ltd.


Ends