TLTB signs deal with SPSE to in­crease landowner par­tic­i­pa­tion in stock mar­ket

Fiji Sun - - Business - KATHRIN KR­ISHNA

The iTaukei Land Trust Board is tak­ing steps to en­hance the level of aware­ness and par­tic­i­pa­tion of landown­ing units in Fiji’s stock mar­ket, ei­ther through in­vest­ment or cap­i­tal rais­ing. TLTB yes­ter­day signed a mem­o­ran­dum of un­der­stand­ing (MOU) with the South Pa­cific Stock Ex­change to be able to achieve this. With the sign­ing of the MOU, TLTB is con­fi­dent landown­ers in Fiji have the po­ten­tial to par­tic­i­pate ac­tively in Fiji’s stock mar­ket. This is through the pur­chase of shares which will have an im­pact on the devel­op­ment of the econ­omy as a whole. SPSE Chair­per­son, Nur Bano Ali said the part­ner­ship marked an im­por­tant achieve­ment for SPSE’s in­vestor ed­u­ca­tion agenda. “This MOU is the first of the many as­so­ci­a­tions that the ex­change would like to em­bark on with other key stake­hold­ers,” Mr Ali said.

She also added the ini­tia­tive was well-aligned with the Gov­ern­ment’s Na­tional Devel­op­ment Plan and Cap­i­tal Mar­kets Mas­ter Plan Pri­or­i­ties. TLTB Board Mem­ber Ro Epeli Matai­tini said the sign­ing of MOU would def­i­nitely add value to TLTB’s land man­age­ment ser­vices. “Through this MOU, TLTB will be well-equipped to cre­ate aware­ness and im­prove landown­ers’ un­der­stand­ing on in­vest­ment op­por­tu­ni­ties that are cur­rently avail­able in Fiji’s stock mar­ket,” he said.

SPSE chief ex­ec­u­tive, Latileta Qoro, com­mended the board and the Ex­ec­u­tive Man­age­ment of TLTB for the part­ner­ship. “The MOU pri­or­ity is to en­sure that land own­ing units be­come in­formed in­vestors who are able to con­fi­dently make sound in­vest­ment de­ci­sions,” she said. The MOU would in­volve the joint for­mu­la­tion and im­ple­men­ta­tion of an an­nual in­vest­ment lit­er­acy plan of ac­tiv­i­ties and in­for­ma­tion shar­ing ses­sions be­tween TLTB and SPSE.

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