Carl Ngamoki-Cameron sent packing by Bainimarama

It's official. After much exposure and pressure, the Fijian owned Fijian Holdings Ltd is now free of the corrupt Carl Ngamoki-Cameron.

Kiwi removed from top Fiji company
MICHAEL FIELD
Last updated 10:26 06/10/2011

Fiji's military strongman Voreqe Bainimarama has ordered the removal of a New Zealand lawyer as chairman of one of the country's public companies.

The removal of Carl Ngamoki-Cameron comes after Bainimarama ordered a "special audit" of Fijian Holdings Ltd (FHL).

In a statement to the South Pacific Stock Exchange in Suva, FHL says the board had announced the rescinding of Ngamoki-Cameron's directorship and chairmanship.

No reason was given.

"FHL reassures its stakeholders that business will continue to operate as normal and the appointment made are in line with the relevant articles of Fijian Holdings Limited's Memorandum and Articles of Association," the statement says.

At the time of the "special audit" announcement, the regime said it was focussing on "corporate governance related issues and the recent appointment of the general manager for merchant finance".

Ngamoki-Cameron is also Bainimarama's nominee on the board of the Fiji Rugby Union.

He is a New Zealander who has become a naturalised Fiji citizen and until recently was close to the Bainimarama regime.

FHL is the only one of 16 stocks traded on the Suva market that is restricted to just indigenous Fijian owners.

FHL, an equity investment company, owns shares in 22 companies in Fiji and Papua New Guinea.

This includes 100 percent holding in Blue Lagoon Cruises as well as part holdings in Amalgamated Telecom and RB Patel Group.

- BusinessDay.co.nz