Fijian Holding to manage Tropik Wood Ltd

Fijian Holdings has signed a management agreement with Fiji Pine Ltd to manage Tropik Wood Ltd.

In a joint statement Chairman of Tropik Wood Ltd and Fiji Pine Ltd Ratu Tevita Uluilakeba said the 24 month agreement would facilitate FHL to manage operations of Tropik Wood with the objective of improving operational excellence and inculcate good corporate governance practice.

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

Managing Director of FHL Sereana Qoro said it is an ideal opportunity for FHL to optimize group resources and to venture into the business management arena outside the FHL group.

Tropik Woods 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.