This was announced when Fijian Holdings celebrated its 25th anniversary in Suva yesterday.

Chairman Isoa Kaloumaira said for Fijian Holdings to maintain the type of dividend payouts it gives to shareholders, it needs to diversify geographically.

“Going out into the region is our focus…it is not an easy thing,” Mr Kaloumaira said.

“You’re going into a different culture, different legislation and you manage all those things as you go offshore,” Mr Kaloumaira said.

He said their main focus is taking their subsidiaries into Papua New Guinea as it’s the biggest economy in the South Pacific region

Fijian Holdings was founded in 1984 with an initial funding of $1.2million to encourage the indigenous participation in the commercial sector.

Provincial councils each contributed $50,000 while other contributions were provided from the Fijian Affairs Board, Native Land Trust Board and the Koula Trust.

It opened its shareholding base to individuals in 1991 and became publicly listed in 1993.

The company has nine subsidiary companies namely Fiji Industries Ltd, Basic Industries Ltd, Blue Lagoon Cruise Holdings Ltd, FHL securities, Fijian Property Trust Company Ltd, Merchant Finance & Investment Company Ltd Clariti South Pacific Ltd and FHL Retailing Limited.

It also has 12 associated companies which are Goodluck Investments Ltd (joint venture with Tappoo Group), Amalgamated Telecom Holdings (ATH), Sun Fiji Ltd and Fiji Television Ltd, Goodman Fielder (Fiji) Ltd, Golden Manufacturers Ltd, Asian Paints (South Pacific) Ltd and Fiji Sugar Corporation, New World Limited and Marsh Limited.

Fijian Holdings has 842 shareholders and it has paid out $59m in dividends to shareholders since its inception.

It has a total investment portfolio of $142m with annual group revenue of $213m and group net asset of $166.8m.