ATH’s colourful trip at the stockmarket

The rise and fall of Amalgamated Telecom Holdings Limited, Fiji’s giant telco

by Dionisia Tabureguci

There is little doubt that Amalgamated Telecom Holdings Limited (ATH) is one of the biggest companies in Fiji with total assets of over $300 million, six subsidiary companies and annual net profit after tax averaging $45 million in the last five years.
And when it comes to companies listed on the South Pacific Stock Exchange (SPSE), ATH is also massive, sometimes making up over 50 per cent of total market capitalization.
A small movement in its share price for instance can have such a huge impact on the market index that it is not unusual for the index to drop if the day’s trading sees a fall in ATH share price despite a good share price performance by other listed companies.

CMDA explores new alternative market for Fiji

An alternative share market to cater for funding needs of Fiji's SMEs

By Dionisia Tabureguci
A NEW share market to facilitate the listing of small and medium sized enterprises has been proposed and is likely to be established at the South Pacific Stock Exchange (SPSE) sometime next year, according to the Capital Markets Development Authority.
Tentatively called the Alternative Investment Market (AIM), the initiative would see the creation of a trading board upon which companies with assets of less than F$5 million may list and have their shares traded.
In an interview with Islands Business Magazine, CMDA chief executive officer Suren Kumar said the project is a response to the need by a greater number of companies in the country for an alternative source of funding.

Stock Exchange chief calls it a day

‘Capital markets need more government assistance’


...Sanjay Sharma, SPSE's outgoing CEO.



Words and photo by Dionisia Tabureguci

SANJAY SHARMA is a few months away from calling it quits in a ballgame that has been both rewarding and frustrating. As outgoing chief executive officer of the South Pacific Stock Exchange (SPSE), he has seen some progress in the development of the country’s capital markets but, he admits, some dreams are going to take a little longer to come true.

On the eve of his departure to greener pastures, Sharma candidly singles out the lack of government commitment to the development of the potentials in the capital markets as the biggest stumbling block in effort put into building up of this section of the economy.