New listing on South Pacific Stock Exchange

24/11/2011

<p style="text-align: justify;">Not too many companies are being listed on the world’s stock exchanges since the global financial crisis hit. But a new listing on the South Pacific Islands region’s only stock exchange, the Suva, Fiji based South Pacific Stock Exchange is reviving hope in one of the world’s smallest exchanges.<!--more--></p>
<p style="text-align: justify;">Future Forest Fiji Limited (FFF) was officially accepted into the South Pacific Stock Exchange last week. The company promotes sustainable environmental and economic practices in the cultivation of teak, a tropical hardwood tree species, to produce goods for revenue. The company proposes to implement intensive management systems in several Fijian provinces.</p>
<p style="text-align: justify;">Future Forest Fiji will infuse 2,000 direct and indirect jobs into the Fijian economy, according to Paul Evers, Chairman of Future Forest Fiji.</p>
<p style="text-align: justify;">South Pacific Stock Exchange is one of the Pacific islands region’s oldest securities exchanges, having begun operations as a wholly owned subsidiary of the Fiji Development Bank in 1979.</p>
<p style="text-align: justify;">The exchange currently deals with listed company shares, government bonds and treasury bills besides other securities like tradable term deposits. But trading in the government securities is extremely rare with most activity restricted to company shares.</p>
<p style="text-align: justify;">Companies from telecommunications, media, manufacturing, consumer products, finance, automobile dealership, real estate and export sectors make up the listings. Some of these companies have operations in other Pacific island nations as well.</p>
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