Fijian Holdings Ltd (FHL) is planning to enhance its influence in the tourism sector by acquiring a controlling stake in Port Denarau Marina Ltd (PDML). Shareholders of PDML will gather for an Extra-Ordinary General Meeting (EGM) on December 5, 2025, to discuss and vote on this significant proposition.
Back in June, FHL entered into a Share Sale Agreement with Skeggs Group Limited, aiming to purchase the latter’s 23.5 percent shareholdings in PDML. This acquisition will not only increase FHL’s stake from 27.5 percent to 51 percent but will also see FHL Trustees Limited grow its interest from 0.11 percent to 19.63 percent. This strategic move signifies a shift from foreign ownership to Fijian ownership in key tourism infrastructure, a step that is expected to bolster economic sovereignty and contribute to sustainable tourism development within the region.
FHL, which originally bought into PDML in March of last year, is utilizing this opportunity to further align with its strategic objectives. The company emphasizes investing for impact, future-proofing core investments, and promoting local economic participation. Their commitment to long-term sustainable development will involve leveraging existing resources to identify new business opportunities and supporting local suppliers to maintain employment levels in the community.
The pending sale has garnered attention due to the potential positive implications for Fiji’s economy, especially as it relates to foreign reserves—dividends will be paid locally—a change envisioned to enhance local participation in the economy. Furthermore, FHL aims to integrate its operational prowess with PDML’s existing infrastructure, ultimately promoting stability and growth.
Currently, PDML is listed on the South Pacific Stock Exchange (SPX), where shares were priced at $2.25 at the time of reporting. The impending EGM will weigh the proposed sale against the benefits highlighted by FHL, with shareholders urged to consider the broader implications of this acquisition for the community and the economy.
FHL’s ongoing assurance of maintaining operational integrity during this transition and its proactive engagement with stakeholders presents a hopeful outlook for both companies. By shifting towards local ownership, this transaction may lead to a more resilient economic framework within Fiji’s vital tourism industry.