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By ELLEN STOLZ
In an effort to strengthen and grow the company, Kontiki Growth Fund Limited (KGF), plans to rope in other potential parties to invest in the Fund in the near future.
This was revealed by the company’s managing director Griffon Emose during a stakeholder briefing in Suva yesterday organised by the South Pacific Stock Exchange.
“In the future we would like to have existing cash which will allow us to invest into new companies and new opportunities that have come up,” he said.
“Currently all our money is tied up in the companies we have shares in; but we will like to get new cash into the fund.”
Mr Emose said they would be offering the opportunity to invest further funds into KGF to all their existing shareholders at a discount rate that is lower than the market price.
“If they do not want to, because they are not obligated to do so, then the company can then offer that to people outside,” he said.
The company’s annual report reflected some loss in existing companies. However, Mr Emose said they were working earnestly to rehabilitate those companies.
Mr Emose said there was enormous potential for tourism in the North.
“Savusavu, as far as tourism is concerned, has a lot of potential and we have had a lot of interests from overseas investors,” he said.
“Savusavu Harbour side has properties there and is trying to build apartments, offices, shops and eventually it will be a part of what will be called a ‘Marina Resort’ which will cater for yachties.
“There is a lot of potential but it’s just been inactive since 2006. We are exploring other options and hoping that in the next few months we can announce something that is being discussed now.”
Established in 2004, the Kontiki Growth Fund (KGF) has invested $3.37 million in the Kontiki Fund (KF) and five private equity businesses namely; i-Pac Communications (trading as Unwired Fiji), Bligh Water Shipping, Halabe Investment, Pleass Global Limited and Oceanic Communications.