The Fiji Times reports that an 11 member Chinese Researve Bank team showed interest in buying Fiji sugar. Tate and Lyle are getting sick of unreliable FSC run by a Abdul Khan, so why would the Chinese chase an unreliable trading partner? It’s more likely they’re interested in our sugar industry. When FSC collapses they’ll be happy to step in and pick up a few mills at rock-bottom prices, with desperate farmers who are willing to accept peanuts for their efforts. The Chinese are in Australia trying to buy their way into the industry so they can have control over their supplies. The idea they’re interested in chasing an unreliable producer as a supplier is too much to swallow. The deal they’ll want is cheap mills, land and a tame workforce. A bankrupt FSC gives them the first, the Land Use decree gives them the second and the Essential National Industries (Employment) Decree gives them the third. That should help Frank pocket a good price for his efforts.
Fiji Times, January 06, 2014 Fiji sugar interests investors