Fiji’s South Pacific Stock Exchange should change its name to Frank Bainimarama’s Stock Exchange

Amazing how tyrant Frank Bainimarama and his advisors are manipulating Fiji’s South Pacific Stock Exchange through one of its listed companies, Fijian Holdings Limited.

In an attempt to hide the multi-million dollars stuff up at FHL, Frank & Co. decided to suspend FHL’s top three personnel, its chairman Isoa Kaloumaira, deputy chairman Colonel Aziz Mohammed and Managing Director Sereana Qoro.

Contradicting statements were released by FHL and the regime.

FHL, in a South Pacific Stock Exchange announcement stated that Isoa, Aziz and Sereana were suspended.

While Isoa and Sereana’s names were clearly highlighted in FHL’s statement, Aziz was only referred to as the Deputy Chairman and one of the three suspended.

Junta spokesman, Leweni, came out today on FM96 radio to defend Colonel Aziz Mohammed saying that only Isoa and Sereana were the ones suspended and not Aziz Mohammed contradicting FHL’s own statement.

This afternoon, another radio station led by Riyaz Khaiyum is broadcasting that Frank Bainimarama has re-instated Isoa and Sereana.

Sources from within say Franks’ right hand cherry told Riyaz to immediately air the reinstatement story on their network, in particular the Fijian radio stations, as part of their damage control plan.

It was an urgent announcement Frank Bainimarama needed to hear before he boarded his flight to Vanuatu for that Melanesian Spearhead meeting.

So where is South Pacific Stock Exchange and Capital Markets Development Authority in all these?

What have they done to protect Fiji’s capital market and FHL’s shareholders while its board and the regime pussy foot around them?

Where are the capital market’s rules and regulation that should provide the safety net for Fiji’s capital market players?

Why are matters relating to publicly listed FHL casuallly announced by the regime and not through the South Pacific Stock Exchange as required by law?

Where is South Pacific Stock Exchange governance and transparency?

Shame on SPSE and CMDA for doing sweet eff all when they are most needed!

South Pacific Stock Exchange should change its name to Frank Bainimarama’s Stock Exchange since they are powerless to stop him from turning SPSE into a junk stock exchange.