The Iririki liquidation has been stayed. The company that owns the resort, Iririki Island Holdings Limited (IIHL), has been granted a temporary stay of liquidation proceedings by the Vanuatu Supreme Court, with company director Shane Pettiona agreeing to Read the rest of this entry »
Construction company Mocha Limited, trading as Vancorp Construction, is facing court action following allegations of failure to maintain work schedules in repair work for Iririki Island Resort following Cyclone Pam. The resort is claiming over A$6.2 million (Vt 505,500,000). The construction company has Read the rest of this entry »
Amalgamated Telecom Holdings Limited of Fiji has announced its purchase of Telecom Vanuatu Ltd. The deal still needs the approval of the Vanuatu authorities including the Telecommunication Regulator. The agreement for the sale was signed by Mauritius Telecom Ltd and MT International Ventures PCC for the purchase of 100% of TVL. ATH’s two largest shareholders are the Fiji National Provident Fund (58%) and the Fijian Government (35%). ATH owns Fiji’s national telco Telecom Fiji Limited and mobile network Vodafone Fiji, amongst other businesses.
There was good news for Government finances this morning. Read the rest of this entry »
A new bilateral business initiative between India and Vanuatu, the ‘Vanuatu India Business Interaction’, has been launched by Deputy Prime Minister Joe Natuman and India’s Minister for Power, Coal, New and Renewable Energy and Mines Piyush Goyal. Deputy PM Natuman pointed out the importance of India as a trading and development partner. This is the first state visit by an Indian minister to Vanuatu, and the two countries also signed an MoU for a Read the rest of this entry »