Dixie, Milk production in Fiji has always proven to be...

Dixie,

Milk production in Fiji has always proven to be uneconomic. It would take any credible board to find out the facts on why it has never worked in Fiji a maximum of 5 minutes on google.

For this current board that is in its 60`s and 70`s the choice of a focus on Fiji always had a lifestyle smell to it and not an economic one.

The credit check from Dun and Bradstreet, (available to the public) on Pramana Capital., the company Pacific Dairies Ltd has now placed ALL its hopes on for raising capital and/or saving itself from trading insolvent according to its latest market update in September, makes very interesting reading and suggests a low probability of delivering funding. Two unpaid court judgements of approximately $200,000 and plenty of recent deregistered or forcibly wound up companies under Mr Podaridis stewardship.


Interesting to note, Pacific Dairies is yet to comply with the listing rules and produce the September quarterly report, which has to contain the promissory note content as it was announced in the annual report ending June 30 financial year. It also has to prove the company is solvent. One of these 2 issues appears to be holding up the quarterly report and any announcement.

The company will be required to set a date for the EGM to meet its Corporate Governance obligations regarding the 249D notice received by 13 November.