How The Fijian Provinces Were Betrayed And Looted By The Fijian Initiative.

People of Fiji had been told of corruption and questionable dealings by those who were considered the marshals, saviours and guardians of the Fijian race. When Frank Bainimarama sacked the government and took charge, his reasoning, among others, was to save the Fijian race from unscrupulous and wanting leadership. My purpose here is to substantiate this through reporting on Senate proceedings of some 14 years ago.

When Adi Quini Bavadra (later Adi Quini Speed) was alive she tried her best to reveal the dealings in Fijian Holdings Limited (FHL) but people with power and influence won and this matter never saw the light of day.

My lament had been that while Fiji has an abundance of copy journalists and copy feature writers, there is dearth of good, conscientious, bold and sincere investigative journalists. Perhaps somebody like that can pick the hints from here, and perhaps create an FHLgate.

However I will report on what took place in Fiji's Senate on 18 May, 1993.

In the Senate sitting of 18 May, 1993 (pages 731 to 748), Senator Manu Korovulavula moved a motion for the Senate to call on Government to carry out an investigation into the method adopted by the Board of the Fijian Holdings Limited to allow limited liability companies to buy shares into the company (FHL) without the knowledge of 14 Provinces.

Senator Korovulavula had stated that the motion was brought on a point of principle to reveal less than honest dealings of people in position of power, knowledge and trust.

The intention of the motion was to reveal odd and strange method known to a selected group of shareholders who took advantage of this to borrow funds from the Fiji Development Bank (FDB) or the National Bank of Fiji (NBF) in order to buy shares in FHL. As an example of this a whole Province has only $50,000 Class A shares while a family private company shares add up to $200,000, which is a scam in any language. It is obvious someone somewhere had not been honest and loyal to the Fijian people in not telling them the truth.

Fijian Holdings Limited was primarily created to be owned by the Provincial Councils, Fijian people and Fijian institutions, NOT the elite limited liability family companies. The Great Council of Chiefs, right from its inception was unanimous to see that FHL was to be owned by 14 Provinces, NLTB andthe Fijian Affairs Board.

However the irony and shame is that according to the 1992 annual report, 14 provincial Councils and two Fijian institutions, Native Land Trust Board (NLTB) and Fijian Affairs Board (FAB) hold only 30 % of total shares while the elite Fijians with their family limited liability companies hold 70% of the shares. This is a fraud on the common indigenous people who are supposed to be shareholders of Fijian Holdings Limired through their respective provinces!

People of Fiji need to be made aware of the Fijian Initiative. This Fijian advisory body comprised of intellectuals, professionals, businessmen and senior executives in the private and public sector. The aim of this initiative was to pool these resources, convene regular meetings and seminars to enable it to come up with recommendations to develop and assist Fijians to better themselves in all aspects of life, more so in the field of trade and commerce.

Senator Manu Korovulavula reported to the Senate that it was interesting to know that some of the senior members of the Fijian Initiative did not consider it appropriate to advise the 14 Provincial Councils that they could borrow three or four times more from the Fiji Development Bank, the amount of shares which they already had in FHL.

All this while, these senior Fijian sons took secretive actions to line their own and family's pockets at the cost of Provincial Councils! Senator Korovulavula revealed private shareholding of three provinces with which he was familiar. Please note that all figures, amounts and situations reported are as at 1993, and they may have changed now.

In Kadavu Province, he spoke about 3 companies. The first, Kadavu Development Company, which is fully owned by the people of Kadavu, owned only $50,000 shares. The other, KJY Investment Limited, owned by Qarase's Cabinet Minister Konisi Yabaki and his family, owned $100,000 shares. The third, Taoi Investment Limited, owned $200,000 shares. Shareholding in this Company then belonged to Jesoni Vitusagavulu and Ulaiasi Taoi.

Jesoni Vitusagavulu is former staff member of the Fiji Development Bank, former Air Pacific Executive, former Director of Fiji Trade and Investment Board and currently Fiji's High Commissioner to USA, appointed by the now deposed PM Qarase. Taoi is president of Indigenous Fijian Business Council. Previously Rodney Acraman also used to own shares which have since been bought by the remaining two shareholders.

The interesting issue here in that Konisi Yabaki was then the Chairman while Vitusagavulu was secretary respectively of Kadavu Development Company. They went ahead, used their positions to build their own interests at the cost of Kadavu Province.

The next province is Lomaiviti, which had only $55,100 shares while KB investment Limited and 5X Investment limited owned $100,000 each while Vensalisi Investment Limited had $80,000 shares. KB Investment Limited, with $100, 000 shares is owned by the Bakani family.

The head of this family Kalivati Bakani is former executive of FDB, former Deputy General Manager of NBF, former Carpenters Executive and current CEO of the Native Land Trust Board. The purchase of shares was financed by NBF 5X Investment, with $100,000 shares, is owned by Lote Rabuku, Semesa Matanicake, Delai Sainikinaivalu, Penisoni Gauna and KB Investments.

Note that acquisition of these shares was also financed by NBF. Vensalisi Investment Limited, with $80,000 shares, is owned by Isikeli Mataitoga and family. Mataitoga was then Director of Public Prosecutions and is currently CEO of Foreign Affairs.

Interesting point to note is that in less than two months after registration of 5X Investment, this $1 per Share Company got $75,000 loan from NBF. Additionally, three months after KB Investment Limited was registered, Kalivati Bakani's wife got $107,000 loan from NBF where her husband was the then Deputy General Manager. Three months after Isikeli Mataitoga's family company was registered, he obtained $64,000 from FDB which was headed by Qarase.

Now we move to the Province of deposed Prime minister, Lau Provincial Council, which had only $50,100 shares. At same time, Stiks Investment Limited had $150,000, Q-Ten Investment Limited had $200,000 and Kepa Investment Limited had $100,000 worth of shares.

Stiks Investment Limited shares of $150,000 are fully owned by Weleilakeba family. Sitiveni Weleilakeba is the CEO of FHL and one time business partner of democracy activist Laisa Digitaki, together with whom, he tried to run Mobil Walu Bay Service Station which went into receivership and was then acquired by Carpenters Motors. The shares in Stiks had been financed by FDB.

Q-Ten Investment Limited held $200,000 shares, which is owned by Laisenia Qarase Family. One property CT 14743, Lot 2 was mortgaged twice to acquire finance for $112,400 and $353,217 respectively. Note that at the time, Laisenia Qarase was the Managing Director of FDB, the lender for share acquisition. At that time, Laisenia Qarase was also the financial advisor to the Fijian Affairs Board, but failed to advise them of this insider information of acquiring shares. Kepa Investment Limited, with $100,000 shares, was wholly owned by Lakepa family, Satini and Milika, and financed by FDB.

An interesting point is that one of the nine points of Deuba Accord was for government to make $20m interest free LOAN to FHL through Fijian Affairs Board, repayable over 20 years. What taxpayers of Fiji need to know is under whose authority this taxpayers' loan of $20m was converted to a gift for FHL. Note that board members of FHL, with shares then included Laisenia Qarase, Sitiveni Weleilakeba and Josaia Mar, who has been removed as Chairman of FEA by Commander. Also note that Laisenia Qarase was the interim Prime Minister when this shady and questionable deal took place.

What the Fijian race needs to ponder is that the Qarase regime has been projecting Indo Fijians as the common enemy of the indigenous race. Is this really so? Indigenous Fijian people had placed their faith in the hands of these intellectuals, so called professionals and who were supposed to be guiding the Fijian race.

The FHL was the commercial vehicle through which the wellbeing of Fijian race was intended to be improved. The dependency of the wisdom of Great Council of Chiefs and the elders in the villagers was on the shoulders of the so called Fijian Initiative group. However these very same people tricked their own people while projection Indo Fijians as villains.

With friends like the Fijian Initiative, the indigenous race need no enemies at all. There is a saying that enemies who strike you from the front are miles better than friends who strike you on the back. Fijian Provinces have been dealt commercially fatal blows on their backs by their trusted sons.

Perhaps those who are crying for Qarase regime to come back need to consider whether he is worthy of this honour. The Commander is right in trying to save the indigenous race from the enemy within, as there is no fear from those outside.

Those who were Senators in 1993, and were present in Senate, including President Ratu Iloilo and Adi Litia Cakobau need to answer to the Fijian race why this call for investigation was wiped under the carpet. Other Great Council of Chiefs nominees in that Senate also need to answer to their people.

As part of Commander's cleanup, the whole saga at FHL needs to be reopened and relooked and the $20m of taxpayer funds should be repaid to the nation, and specifically reserved for rural development of each of the 14 Provinces and fat cats Fijians need to be trimmed down to size, so that the whole nation can be spared from ungrateful sons who projected others as enemies of the indigenous race.

And those racist politicians and their hangers-on who projected and put Indo Fijians as red herrings should be made to answer to the indigenous race of this betrayal and who their real enemies are!

Comments (25)

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Concerned Citizen said:

	So the Blueprint was just a Sham,Vakaloloma na Taukei-Lets hope people learn whom they'll vote to power next time!!
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14 January, 2007
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Caqe Pepa said:

	Disrobe and disband GCC and have the new building converted into a library. Fiji needs well informed citizens, not ignorant sheep minded people.
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14 January, 2007
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Cap said:

	This article should be translated into the Fijian vernacular and made widely available to all interested i taukei. I distinctly remember hearing of the FDB financing scheme to borrow at low interest and buy into FHL to receive dividends that more than covered the loan repayments (if any). This came to me from a paramount chief who was advised of the scheme by another chief. Both are now deceased.
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15 January, 2007
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Ratu Enesi yavala said:

	Please give me the authority to translate these into the Fijian Vernacular. And at my costs to be printed in the Fijian Newspaper. My Indigenous Brothers and sisters,uncles and aunties AND ALL THE INDIGENOUS POPULACE NEEDS TO READ THESE. PLEASE , ITS ABOUT TIME
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15 January, 2007
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Ratu Enesi Yavala said:

I use to wonder when these Loan was given sometime back. the so called interest free loan of f$20 Million that it was for the benefit of my unfortunate brothers and sisters in the different provinces in the later years. But I was very shocked to see what they have done.My heart cries out to them .For what these so called elite Fijians have done . And shame to them. One day Mafatu. Our ancestors are crying out in there graves for the injustice done to the Indeginous fijian Race by their Indigenous BROTHERS who have been given the opportunity to assist the unfortunate by way of leadership but instead choose to only further their selfish and dishonest agendas. ISA VITI MY HEART CRY OUT TO YOU .

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15 January, 2007
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Fiji Buzz Admin said:

Ratu Enesi Yavala said: Please give me the authority to translate these into the Fijian Vernacular. And at my costs to be printed in the Fijian Newspaper. My Indigenous Brothers and sisters,uncles and aunties AND ALL THE INDIGENOUS POPULACE NEEDS TO READ THIS. PLEASE , ITS ABOUT TIME The copyright of this article belongs to the author. I have passed on your request to him and will let you know as soon as he responds. If you would like to contact him directly, he can be reached at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it Thank you for visiting Fiji Buzz

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17 January, 2007
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Baiyada said:

In spite of the above, the Fijians are still better off by miles with Lai than with Mahen. It was revealed in the list of debtors to the NBF, that the family of the Interim Minister of Fijian Affairs and a former President of the Republic of the Fiji Islands borrowed millions .Was that also used to buy shares with FHL ?There was also money borrowed from FDB NBF money was also written off in lieu of Peters business loan .That was when NBF was a fully fledged government entity. Thakur needs to stop nit picking. He has to play hardball and roll it on all sides of the field to have a genuine agenda in cleaning up Fiji if thats what he wants .Than and only than can we begin to alleviate poverty and birth Leaders in the words of a wise man; who has understanding, courage,realism,dedication ,inspiring candour and an untiring determination in working with the people and communicating to them of what thair role must be as a national effort.

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18 January, 2007
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green coconut said:

	Baiyada:It was revealed in the list of debtors to the NBF, that the family of the Interim Minister of Fijian Affairs and a former President of the Republic of the Fiji Islands borrowed millions. Anyone know where i can get my hands on this list. Is it a publicly released document?
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18 January, 2007
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Le Mode Fiji. said:

NBF money was also written off in lieu of Peters business loan .That was when NBF was a fully fledged government entity. Fiji knows that, the investigation for NBF scandal was conducted by deposed Assistant Police Commisioner, Moses Driver. What happened to the report, is a reflection of the tarnished reputation of Fiji law enforcement. Denied justice in Fiji, underlined the system of unbridalled injustice.

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18 January, 2007
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CONCERNED CITIZEN said:

Can Lai or any of his Supporters out there explain why they had to do this? I do not have anything against them making a living from investments,but what bugs me is what was the purpose and is it going to benefit the 14 Fijian Provinces? This seems like a fair question and prejudices aside it would be also fair to hear their side of the story....since there are always reasons for these things happening.Lai had a logical reason for Blue Print and Agriculture Scam,-Winning Fijian votes-to win the Elections!!! Ladies and Gents....Let's hear it from Lai and his Supporters.....

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19 January, 2007
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Baiyada said:

	Integrity re-alligned I concur is part of the price for demanding economic development.Its is sad .It is wrong.But to be expected ;most of the population would touch a freshly painted wall even with the 'DO NOT TOUCH-WET PAINT'board right in front of them.
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20 January, 2007
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FijiBuzz Admin said:

Ratu Enesi Yavala said: Please give me the authority to translate these into the Fijian Vernacular. And at my costs to be printed in the Fijian Newspaper. My Indigenous Brothers and sisters,uncles and aunties AND ALL THE INDIGENOUS POPULACE NEEDS TO READ THESE. PLEASE , ITS ABOUT TIME FijiBuzz contacted Mr. Singh with your request and here is his response: I hereby grant authority to any interested person wishing to translate my article in the Fijian language, with appropriate acknowledgment. Writing has been a passion for me and never a means of living or gain, therefore, as long as my message goes to the grassroots, I have no desire of any financial gain. Please go ahead and grant permission to Ratu Enesi Yavala for translation. Regards Ranjit Singh

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23 January, 2007
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Kaiviti said:

	Ranjit, is this the same guy who was one of the senior managers at National Bank of Fiji a few years ago? If he is, then what did you do to stop the rot there? And isn't talking about banking clients a breach of bank-client confidentiality and also your secrecy oath as a bank officer. That oath, I might add also works when you have left the bank.
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24 January, 2007
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Thakur Ranjit Singh said:

Kaiviti said: Ranjit, is this the same guy who was one of the senior managers at National Bank of Fiji a few years ago? If he is, then what did you do to stop the rot there? And isn't talking about banking clients a breach of bank-client confidentiality and also your secrecy oath as a bank officer. That oath, I might add also works when you have left the bank. Yes, indeed, you are right, I am the same Ranjit who was in NationalBank (the good restructured bank) and NOT in NBF or the notorious National Bank of Fiji, which was pilfered and made bankrupt by FDB-trained executives, some of who currently occupy key positions, but have failed to pay their debt to the bank and the nation. I went in to rescue the bank when it was restructured after the loot. It is through our efforts that the restructured bank had turned around and was acquired by Colonial and currently proudly runs as Colonial National Bank. No, sir, I did not breach any trust or use any confidential information. Whatever I stated are public knowledge and my writing on FHL was merely reporting of Manu Korovulavula's Senate presentation in 1993. So I hope you get your facts right before throwing wild allegations.

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25 January, 2007
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FijiBuzz Admin said:

Dear Visitors, FijiBuzz serves as a forum for debating opinions on the past, present and future of Fiji. We will entertain all opinions on any topic from any school of thought. We will never censor opinions and ideas. Our contributors have submitted their articles with the full knowledge and acceptance that FijiBuzz will not censor any criticism of their articles or points of view. In fact, they welcome criticism of their opinions. After all, constructive criticism and debate is the best platform for compromise and consensus on the way forward for Fiji. HOWEVER, personal attacks, racism, and overly offensive comments will be removed. If your comment falls into at least one of these categories, it shall be removed immediately and without prior notice. Please Contact Us if you feel your comment has been unfairly removed. We may consider your view and republish your comment either in full or part if we are satisfied with your explanation. We thank you for caring enough about your country to join the debate on issues that concern us all. Vinaka, The FijiBuzz Team

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25 January, 2007
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Kaiviti said:

	FijiBuzz the fact remains that Ranjit Singh does not have a good record following him. He didn't do much good work at National Bank, neither at Suva City Council nor at Daily Post. Why do you have to protect him and delete my comments when my comments specifically put him in a light where we know where he is coming from.
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26 January, 2007
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FijiBuzz Admin said:

Dear Kaiviti, Mr. Singh's career or whether or not he contributed to good corporate governance in the various organisations he worked for have no bearing on this article or what Manu Korovulavula revealed in the Senate 14 years ago. If you have details of any scam, mismanagement of public funds, or corrupt practice by Mr. Singh or any other individual for that matter, please let us know via the contact form or become a member and submit an article in the usual manner. Thank you for visiting Fiji Buzz.

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26 January, 2007
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Baiyada said:

	What about zak raivoce and co from the military.why are'nt they mentioned.Saki Raivoce ($100,000) from FDB
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10 March, 2007
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candyman said:

	So! who made all the money?
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25 March, 2007
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Max said:

A lot of Fijians really don't know about these dealings in Fijian Holdings Ltd. They need to know these things in order to have a clear perspective of what Qarase was doing all these times. I have been saying since 2001 that Qarase is very deceptive in his leadership style and should be removed. I thank the military for what they did and they MUST, I repeat, they MUST, stand firm in their resolve to clean up the hieracrhy of leadership in the govt and all Fijian institutions.

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15 April, 2007
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newsfiji said:

I'd like to see whether you post this response or not???? Or are you intent on posting what is likeable to the illegal interim regime that does not have the official mandate of the people?? I challenge you! Oh and by the way, we will not be fooled, believe me. The article by one Thakur Ranjit Singh of Auckland, New Zealand, on the subject: ?How Fijian Provinces were betrayed and looted by the Fijian Initiative? needs to be rebutted because it contains false and distorted information to support his personal agenda. Fijian Holdings Limited (FHL) has been the most successful business venture of indigenous Fijians in Fiji?s history. FHL started with nothing some 20 years ago, but it?s total assets today exceeds FJ$300million. FHL has achieved good profits every year since it?s inception. It has also paid good dividends to it?s shareholders every year. Mr Singh?s allegation/criticisms have focused on the issuance of shares by FHL. FHL is a public company operating under the Companies Act of Fiji. The issuance of shares, are governed by the company?s Articles of Association and by the Rules of the South Pacific Stock Exchange in Suva, Fiji. All the issuance of shares by FHL have complied strictly with these rules and regulations. The company?s external Auditors have confirmed this. It is important to know that FHL shares are offered to ALL indigenous FIJIANS and their institutions, irrespective of their wealth and/or income. The purchase of shares is also a choice exercised by individual Fijians and their institutions. The amount of shares they purchase is their CHOICE, subject to limitations of a particular share issue. All share issues by FHL have always been well publicized through prospectuses, statements in lieu of prospectuses, Provincial Councils and even the Great Council of Chiefs. It is quite wrong for Mr Singh to suggest that the 14 provinces have not been informed of FHL share issues. In fact some provinces simply wanted to invest in other ventures rather that FHL. The 14 provinces have also been allocated 10 million of Class ?B? shares on an equal basis. This together with their Class ?A? shares make them the greatest beneficiaries of FHL?s profitability. It is true that some family companies have purchased shares in FHL. Why not Mr Singh? They are Fijian owned. They obtained their funds through honest means and they met the criteria for allotment of shares. It is also true that hundreds of individual Fijians and institutions purchased shares in FHL. They too obtained their funds through honest means. It is also a fact that many companies/institutions/individual Fijians obtained funds from the Fiji Development Bank (FDB) to supplement their savings for the purchase of shares in FHL. WHY NOT MR SINGH? The loans were obtained after meeting the stringent requirements of the FDB. The FDB made money and the borrowers also made money via dividends from FHL. What is wrong with that Mr Singh? Mr Singh?s attempt to discredit individuals in his article fails because it is based on lies. The individuals he has tried to discredit are all well educated, professional, and honest and they are good leaders in their own right. Mr Singh simply cannot accept the success of FHL. He wants to see a Fiji where indigenous Fijians are suppressed in the country?s business sector. He wants to see Indian domination in all sectors including political control of Fiji. Sorry Mr Singh, IT WILL NOT HAPPEN! FIJIBUZZ ADMIN: This comment has been slightly edited to remove character assassination. The authors opinion of Thakur Ranjit Singh marred an otherwise well-written rebuttal

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16 April, 2007
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newsfiji said:

I see that you've decided to remove the posting that i put in response to Thakur Ranjit Singh's distorted report. Rest assured, that the Fijians are no longer stupid as to believe anything/everything that they hear. We look for facts now. And you call Fiji your home - you should be ashamed. FIJIBUZZ ADMIN: newsfiji, I apologise for the removal of your comment. It contravened our policy on comments and had to be edited, however, I was too busy to do the editing at the time. I have now reposted the comment. Without making any judgment as to the opinions expressed, it is a very well written comment and I thank you for taking the time to join the debate

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16 April, 2007
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Kalavo said:

	This blog posting really examines the facts of Natadola; which just shows another tentacles of the massive corruption in Fiji.
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30 June, 2007
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true fijan said:

	I cant believe ppl actually fell for this crap.Nice story but lack substances, i salute you for a theory which is not only ludacris but ridiculous. Next time pliz back it up up with some evidence and stop crasping facts out of thin air because i know you are not that stupid..or are you?
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30 April, 2008
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The real fiji times! said:

Bula Vinaka....as a shareholder in Fijian Holdings, I would like to point out that nothing in your article is true....First of all, Fijian Holdings has and will always be a transparent company. Secondly, Mr. Weleilakeba helped Laisa Digitaki purchase Mobil In Walu Bay but had nothing at all to do with running it. Yes, they were a couple then! Thirdly, Mr. Thakur Ranjit Singh, your laughable article clearly shows your envy of Fijian Holdings success and Thank Mr Weleilakeba and the staff of Fijian Holdings for their hard and honest work.....I just realised how pathetic some people can be....pathetic to the point where they show their envy for success by writing up silly articles that smell of BULLSHIT from a mile away!!

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15 May, 2008
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