Fiji Hardwood Corporation Limited Official Statement

In response to a recent social media post by Mr. Feroz Gulam Mohammed made on the 11th of December 2024 against Fiji Hardwood Corporation Limited is baseless and uncalled for. Fiji Hardwood Corporation refutes claims by Mr. Feroz Gulam Mohammed and wish to advise that Fiji Hardwood Corporation is governed under the Company Acts of 2015 and the Public Enterprises Act of 2019 as a State-owned Enterprise.

Fiji Hardwood Corporation is also governed under the Mahogany Industry Development Act 2010 under the supervision of the Mahogany Industry Council. Any decision made by the Company of its operations is under the guidance of the Ministry of Public Enterprise and the approval of the Mahogany Industry Council, which the Board and Management reports to.

Currently, Fiji Hardwood Corporation is finalizing its financial audits from 2019 to 2021 and will be submitting its audited Financials and Annual reports to the Government. Fiji Hardwood Corporation would like to reiterate that with the current Management and Board, it has successfully turned the Company around from its insolvency state in 2019 to a profitable company from 2021 to present and free from all its debts.

The Company wishes to progress through the review of its mahogany legislations to allow more development in the mahogany sector where resource owners reap more benefits, private sector engagement and paying dividend back to the state.

The Fiji Hardwood Corporation Board and Management express disappointment at Mr. Feroz Gulam Mohammed’s social media allegation of its operations and to come up with facts and figures. The Board and Management wishes to advise that all its operations and financials are transparent and in-compliance with the Office of the Attorney General, the Ministry of Public Enterprise and the Mahogany Industry Council.

Mr Iowane Naiveli
The Chairman of the Board of Directors
Fiji Hardwood Corporation Limited