30 Oct 2003

Calls for Fiji Sugar Corp directors to resign

8:19 am on 30 October 2003

There's been a call for the directors of the technically bankrupt Fiji Sugar Corporation to resign.

The Daily Post reports the call has come from the chairman of Amalgamated Telecom Holdings and former longtime general manager of the Fiji National Provident Fund, Lionel Yee.

Calling for good corporate governance within the mostly state-owned Fiji Sugar Corporation, Mr Yee said the copmpany has suffered massive losses for years and the company's directors must take the blame for this.

Mr Yee says under the Company's Act, if one cannot run a company successfully, one is supposed to resign.

He says in the Sugar Corporation's case this is not happening and it is time for the minority shareholders to take up the issue.