Home » Uncategorized » Ratu Timoci – what’s he scared of facts or dictators?

Ratu Timoci – what’s he scared of facts or dictators?

The evidence by former Minster for Fijian Affairs, Ratu Timoci Vesikula, that he was scared when he saw that “Fijian families” owned 80% of shares in FHL is the most amazing yet. He implied that he thought the contribution of $50,000 by each Provincial Council would make them the largest shareholders.

It’s hard to know where to start with a display of such ignorance or obfuscation.

The Provincial Councils were free to contribute more, the fact that they did not reflects only the fact that they did not have the funds or the expert advice needed to make the decision.

The idea that the 80% were all families is also false. We know that many were communities such as Mavana, not to mention a host of other Tikinas. Ratu Timoci said that “indigenous Fijian are born into a tokatoka, vanua, tikina and their life as an ethnic group is guided by the communal systems”. He should know that many of the companies purchasing shares do represent such communal groups. His community and others from Tailevu might not be numbered among them, but that’s due to short-sighted leadership, not lack of opportunity.

But the biggest sign of ignorance by a man who should know better is the idea that buying shares in FHL was like the votavota at a feast. It was not. It involved sharing the contributions to a project, not the fruits. It’s about building wealth, not dividing the spoils. This was money invested on the basis of faith that the leaders knew how to use the money wisely to give a good return. Qarase had faith and advised his family and community to invest.

The evidence presented so far has confirmed that there was no limit on how many shares Provincial Councils could buy. Or, to be more accurate, the only limit was the education and business sense of Provincial leaders.

Why is that now, twenty years after the events, the issue of buying shares is now being treated as crime? It’s because Fijian Holdings Limited is a success. How many failures of Fijian participation in business have we seen? The real crime is success.


14 thoughts on “Ratu Timoci – what’s he scared of facts or dictators?

  1. What an idiot! This is the kind of mentality that keeps fijians down. If FHL had been a failure there would be no courtcase, more like people would have been pointing fingers at people who invested and saying they were fools. As soon as there is success for some fijians, up jumps other fijians like this a#$hole to say they must be crooks or that ifs unfair and they should have had a share too! Baku!! “Scared” ga nomu cici! This guy is just like his boss Voceke, they can’t stand that other fijians are more successful then them and have worked hard for what they’ve got. Just a bunch of loser thieves only able to gain by force, veikilai and tabetabe!!

  2. This is the same shit going on in Wall Street- Crony Capitalism, on the fraudulent front of uplifting a small segment (1%) of one ethnic community.

  3. timoci tailevu no lega maichod.
    franks ass licker.
    lq is a hero and he made fhl successful. .

  4. timoci vutulaki you the sona levu that renew the avis cars lease in samabula,avis gave you a few mini buses which are all lusi,you renew the leases when you not suppose to,when avis lease expired ,the road was suppose to be widen,avis then sue the government for millons of dollars,you suppose to be in jail because of this

  5. “lq is a hero and he made fhl successful.”

    Somoething many people forget is that LQ was a very successful banker, way before he ever became a politician. I am certain he laments his change in career on occasion.

  6. sobo tu waqa – you an educated man – you know better than this.

    r u just a coward and won’t tell the truth?

    r u jelous of LQ?

  7. The shares were meant to benefit provincial councils and individul fijians and not RICH ELITE FIJIANS LIKE QARASE WHO HAD INSIDE KNOWLEDGE says:

    Vinaka ratu Timoci,

    Please dont get upset by these pro Qarase bloggers.

    The shares were meant to benefit individual mataqali members through investments via provincial councils and not for elite fijians with insider knowledge to expolit the situation and make money for their families and their own selves.

    Vinaka Ratu Timoci

  8. @Radiolucas…LQ was hardly successful as a banker. Sure he signed up tons of loans for fishing punts and small plots of farm land… but all later written off as bad loans. You can hardly call that success. His best loans were to fellow Lauan.. Mere Samisoni …not for expanding her business but for buying houses in Tamavua…around 10 at last count. Seen the loans docs. great reading

  9. @ The truth only pls

    “His best loans were to fellow Lauan”

    A strange place to end your comment.

    I am not sure what you are implying, that the microloans were unsuccessful for a Bank, but property loans were? Wouldn’t that be fundamentally obvious? How do you make lots of interest from a $30k loan? (Short answer: You don’t.)

    Isn’t the point of microloans to encourage small business, investment and growth? They certainly are not to make profit.

    So what you are saying is that LQ was successful in part, but the success was because he intentionally only made profitable property loans, and of those, they were to Lauans?

    What does that actually mean? That he made more money off Lauans? That Lauans had to work harder to pay their loans? That investment in property made more sense – and that he pre-existing relationships in the Lauan community meant that he had more client’s from Lau? (Isn’t that all a bit obvious – all businesses work like that?!?)

    It’s a bit like saying that Indians or Fijian’s are racist for having Indian or Fijian customers – it doesn’t have any logic as an argument.

    And why/how do you know about Mere Samisoni’s investments and whether or not her laons were applied to mortgages or business investments? Are you here accountant? How is that even relevant except as a form of shit-throwing?

    Are you in the current FUCAC investigations?

    Forgive my suspicion with that line of snide blame – it just appears too convenient and your conclusion vis-a-vis loans to Lauans (and we all know how everyone loves blaming them), a bit strange. (Disclosure – I am from Suva and not related to any Lauans – but I find the obsession with their leaders, successes and failures, very strange – why don’t we find more blame for Frank, George and Rabuka’s matagali?)

  10. just as well there was ZERO participation by the indofijians OR ELSE they would have been blamed!!!! for watever and anything and everything.

  11. The money for the shares in the Fijian Holdings was got as loans from the F D B.
    most of the loans were never paid back nor was there any intention to pay from the outset.
    So go figure it was a scam from the beginning by the Elite fijians for their elite offsprings.!!!

  12. Not many people knew about Qarase until he wrote against Chaudry and F L P when he was the MD of the failing FDB.Suddenly he was the champion of the Itaukai’s.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s