They're back: Fijian Holdings executives reinstated

THE three Fijian Holdings Limited executives who were sent on leave last week to allow for an investigation into the company's corporate governance affairs have been reinstated.
Chairman Isoa Kaloumaira and managing director Sereana Qoro were among the three reinstated yesterday following the green light from the Prime Minister's office.
The State had launched a corporate governance audit at FHL last Friday and requested that the three proceed on leave for five days to allow for the audit on corporate governance.
FHL acting chairman Iowane Naiveli confirmed the audit had been completed and a report had been forwarded to the Prime Minister's office.
"The Prime Minister in receiving the report is satisfied with the report and has decided that the chairman and managing director to be reinstated immediately," Naiveli said.
He added it was business as usual in the group and all group companies functioned normally.
The findings of the audit will be first released to the South Pacific Stock Exchange before it is circulated further. Meanwhile, FHL's proposed acquisition of British Petroleum South West Pacific (BP SWP) has been assured the go ahead.
BP SWP (New Zealand) communications and external affairs manager Diana Stretch said the sale process between BP and FHL continued.
"BP remains committed to concluding the sale with FHL in due course," Stretch said from New Zealand yesterday.
"The specific details of this sale process are confidential.
She said the current investigation of FHL by the Fiji Government was a matter for the two parties.