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The financial viability of the Fiji sugar corporation: an assessment from the corporation's annual financial reports

White, Michael M. (2003) The financial viability of the Fiji sugar corporation: an assessment from the corporation's annual financial reports. Fijian Studies: A Journal of Contemporary Fiji, 1 (2). pp. 287-300. ISSN 1728-7456

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Abstract

This paper analyses the performance of the Fiji Sugar Corporation on the basis of its annual financial reports for the period 1997-2002. The analysis shows the following: that despite FSC undertaking an internal restructuring, there is no evidence of any material improvement in operating efficiency; there is no evidence of FSC having taken any initiative to foster grower-miller collaboration; and that despite FSC’s calls for a renegotiation of the Master Award there is no evidence to suggest that the revision of the Master Award sought would of itself solve FSC long term financial problems. The analysis indicates that with the removal of Fiji’s access to the preferential sugar markets equity holders’ interest in the corporation would be rapidly destroyed, given the industry’s current cost structure. The study also raises concern at the delays in the FSC taking out its annual reports.

Item Type: Journal Article
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Business and Economics (FBE) > School of Accounting and Finance
Depositing User: Ms Mereoni Camailakeba
Date Deposited: 23 Apr 2003 18:59
Last Modified: 04 May 2012 16:41
URI: http://repository.usp.ac.fj/id/eprint/2759
UNSPECIFIED

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