$203,210.16 Bonus Payout to Fiji Ports Staff
In the year 2019, Fiji Ports Corporation Limited (FPCL) recorded a net profit after tax of $ 28.04 million, an increase of four per cent, compared to 2018. This has also led to an increase of shareholding dividends from $16.24m in 2018, to $16.82m for 2019
As a result of this financial performance, FPCL has announced its bonus payout of $203,210.16 in a formal ceremony yesterday at its Level 2 Conference Room, Mua-I-Walu House, Suva. Compared to 2019, an amount of $437, 331 was distributed amongst 428 members consisting of permanent employees, registered workers and day contractors as part of the 2018 performance bonus payout.
FPCL chairman Shaheen Ali said the bonus payout this year was a reflection of the company’s financial performance in 2019. “Each and every employee of FPCL has contributed one way or another to the achievements of the company and are the pillars that have made FPCL the strong organisation it is today.
“You may not realise it, but the work you do, your contribution – in whatsoever role – the minute you enter our gates, or doors, makes a huge difference.
“And it is your commitment that has brought us here today,” he said.
Mr Ali said the improved position of FPCL ties in with the Fijian Government’s vision to strengthen Fiji’s position as the trade, transportation, logistics and communications hub of the Pacific.
Since the company’s divestment in 2015, the profits of FPCL have increased by over 200 per cent, which meant bigger returns for shareholders.
“This also means returns to Fijians, as the dividends paid to the Fijian Government and Fiji National Provident Fund (FNPF) is going back to the taxpayers and members of FNPF,” he said.
Company mission
In his reflection on the company performance, FPCL chief executive officer Vajira Piyasena said the company has continued to deliver high returns to its shareholders.
He said for the financial year 2019, the company was able to deliver the highest profitability in its history of operations.
“As a leading organisation with private and public partnership, we have increased shareholder value.
“As a result, our staff will share part of the success by receiving a bonus payment while we pay over $16 million to our shareholders noting 80 per cent to Government and Fiji National Provident Fund,” he said.
Greenhouse emissions
Mr Piyasena said in 2019, FPCL had recommitted to meet the challenge of reducing greenhouse gas emissions across the Suva and Lautoka Ports by installing electronic insinuators. “I am pleased to say that the company has a dynamic pursuit of this goal and has resulted in the reduction of energy consumption by an estimated 40 per cent.” He added this in turn represented an annual reduction of 62 tonnes of greenhouse gas emissions since the implementation of various energy efficient initiatives since 2016.
“For example, in 2019 we have emphasised on the management of hazardous and non-hazardous waste generated by the FPCL and Fiji Ports Terminal and this is by installing electronic insinuators at a cost of more than $600,000,” he said.