Another blow to FNPF

Last year Amalgamated Telecom Holdings Group lost $34.65million, which is 176% decline in their fortunes. ATH chairman Ajith Kodagoda said the loss was largely because of the disposal of equipment owned by Vodafone Fiji Limited of $69m and impairment of assets of $7m in FINTEL. We all know the Fiji National Provident Fund is the biggest shareholder in ATH, so it’s FNPF pensioners who suffer the loss. Their financial future is also being frittered away by the regime treating the FNPF as a personal bank to fund all their expensive schemes.

Fiji Times August 02, 2013 $34.6m net loss

One Response to “Another blow to FNPF”

  1. The Curse Says:

    and now the PNG deal with Vodafone/FNPF has fallen through so more cuts to the pensions on top of the 52% already in place?
    the fund will be bankrupt when Fiji airways falls.
    we were told that the regime would revitalize the fund to make it viable. is this what they meant??

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