Salutations:
Introduction:
Bula Vinaka and a very good morning to you all.
I would like to begin by extending my heartfelt gratitude to the Chairperson, the Board, and the Management of FPCL for your warm welcome and for your continued dedication to the progress and success of this vital sector.
Today marks another significant milestone for FPCL, and I am proud to witness the accomplishments you have achieved, particularly in such challenging times. Your resilience, commitment to growth, and forward- thinking strategies are commendable, and I would like to take this opportunity to acknowledge the remarkable progress you have made.
Acknowledgment of Financial Results:
It is indeed heartening to hear that FPCL has recorded a strong Net Profit After Tax (NPAT) of $27.7 million, which represents a 3% increase from the previous year. This reflects not only the hard work and determination of the FPCL team, but also the strategic decisions made to ensure sustained growth and operational efficiency.
The dividend payout of $16.6 million to the three shareholders is a testament to the Corporation’s continued success and financial health, and I am pleased to know that such positive results benefit both the government and our people, as well as key partners like the Fiji National Provident Fund.
Furthermore, I would like to commend the decision to approve the staff bonus payout. A sum of $342,469 to 133 employees highlights the important recognition of the hard work and commitment that the staff at FPCL have shown over the past year. Their contributions to the growth and performance of the Corporation are invaluable, and I join the Chairperson in congratulating them.
Infrastructure and Strategic Initiatives:
It is also encouraging to hear about the significant strategic initiatives underway at FPCL. The continued investment in infrastructure development, including the Wharf Rehabilitation projects in Suva and Lautoka, will not only improve the efficiency of port operations but will also enhance our capacity to handle increased trade and larger cargo volumes.
Equally, the efforts being made to modernize facilities, such as the Slipway Rehabilitation project and the Suva
Port Relocation Feasibility Study, reflect FPCL’s forward-looking approach. The work being done to make Fiji Ports a maritime hub in the Pacific will lay a strong foundation for the future of our nation.
The emphasis on digital transformation and sustainability is also timely and essential. As we move into a new era, it is crucial that we continue to adapt, innovate, and align our operations with global best practices, particularly in the areas of environmental stewardship and reducing our carbon footprint.
Acknowledgment of Challenges and Future Focus:
While we celebrate the growth and progress that FPCL has made in 2023, it is important to also acknowledge the challenges that lie ahead. The current global geopolitical environment and its impacts on the global supply chain are indeed a concern. However, I am confident that FPCL is well-equipped to tackle these challenges.
Your diversification of services and strengthening of crisis management protocols will ensure that FPCL remains resilient in the face of adversity. The commitment to modernising port facilities and enhancing digital capabilities will make sure that Fiji
remains competitive and attractive for international trade.
Conclusion:
In closing, I would like to express my sincere thanks to the Board, the Management, and the staff of FPCL for your unwavering commitment to excellence and the development of our maritime sector.
I also want to extend my gratitude to all our stakeholders, particularly the Fiji National Provident Fund, Aitken Spence PLC, and other key partners, for your continued collaboration and support.
As we move forward, let us continue to build on the momentum that has been established, ensuring that FPCL plays an even more critical role in the economic development of our nation. Together, we can achieve our shared vision of making Fiji a thriving maritime hub in the Pacific.
Lastly, I would like to take this opportunity to wish all of you and your families, and all staff and their families a very Merry Christmas and a prosperous New Year.
Vinaka vakalevu, and thank you.