Ropate Valemei
Saturday, September 05, 2015
REWA Provincial Holdings Company Ltd (RPHCL) recorded $3.44million net profit after tax for its 2014 financial year which ended December 31.
Compared with the financial year ended December 31, 2013, the council recorded $51,281.
The board has decided to declare 7 cents for every $1 for a dividend to its shareholders.
This equates to $111,889 as dividend payout.
This, according to company’s chairman Nemani Buresova was declared at its annual general meeting on May 30, this year.
The Rewa Provincial Council, with 33 per cent of shares, received $36,036 of the dividend payout in Suva yesterday.
RPHCL has total roll of 546 shareholders made up of Individuals, groups, villages, tikina (districts) and the provincial council.
Mr Buresova said they generated their income from the Ro Lalabalavu House investment property. The valuation of the property was undertaken in August last year after a lapse of five years and valued the property at $15m.
He said the valuation was prompted by the adoption of the International Financial Reporting Accounting Standards and in accordance with its standard requirements for periodic valuations, every five years at the least.
The last valuation was carried out in 2009 which valued the property at $11.4m.
According to him, the company acquired and installed a generator at its investment property during the year with a total value of $215,251.
(Source: Fiji Times Online, 5 September 2015)