Abdul Khan’s best yet

Only Abdul Khan could outdo his past acts of stupidity. Now he’s announced that the Government intends to buy out minority shareholders in the Fiji Sugar Corporation to allow it “to continue with reforms that are in place unhindered”. Can’t this buffoon understand the FSC balance sheet? FSC is bankrupt. It owes more than it owns and continues in business only because banks and the FNPF lend it money because the loans are backed by Government guarantee. The Government already owns FSC 100%. The private shareholders who own about a third of FSC shares have already lost their money. The shares are no longer traded on the SPSE because the company was delisted. The shares are worthless, so why talk about buying out other shareholders. Is Abdul Khan really this stupid?

Fiji Times September 26, 2013 Plan to buy out FSC
http://www.fijitimes.com/story.aspx?id=246585

2 Responses to “Abdul Khan’s best yet”

  1. The Sugarman Says:

    I repeat, the dumbest, most stupidest CEO ever.

  2. sha Says:

    We had a sugarcane plantation in Viseisei, Lautoka and the productivity at that time was very promising because of the high price of sugar in the world market. And the white government at that in Fiji was overprotective of the industry , the sugar mills and the sugarcane farmers..We didn’t have any dramas under the white government , the sugar industry flourished and we were very happy to work on the sugarcane plantation. Looks like we all have to go back to the Queen and beg her to take Fiji back to the colonial rule of the British Government. The way things are going right now is not very helpful to the people of Fiji…we are going nowhere….

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