Anti-money laundering in the Pacific

the head of PALP, Kosi Latu.

by Dionisia Tabureguci

PACIFIC island countries have, at their disposal, a number of donor agencies and institutions that assist them in the establishment or enhancement of their anti – money laundering (AML) and counter terrorist financing (CTF) legislations. One such effort is the Pacific Anti Money Laundering Project (PALP), a combined effort between the Pacific Islands Forum Secretariat (PIFS) and the United States State Department.
Islands Business Magazine spoke to Kosi Latu, head of the PIFS-based PALP who spoke about the progress and other aspects of the project.

When was PALP set up and what is its function?
Latu: The Pacific Anti money Laundering Project, or PALP, the acronym that it goes by, is still a very new set-up. It has been going for about 7 months since September last year and is a joint initiative between the Pacific Islands Forum, the United Nations Office on Drugs and Crime (UNODC) and the US State Department. The PALP is to run for a period of four years and is funded by the US State Department. PALP is a regional technical assistance and training programme designed to assist Forum countries in establishing and/or enhancing their anti-money laundering (AML) and counter terrorism financing (CTF) regimes to comply with international standards of the Financial Action Task Force (FATF), and relevant UN Conventions and Security Council Resolutions.

HONG KONG HOTELIER EYES 'LAST FRONTIER'

With Fiji, Vanuatu in the bag, Samoa’s next


By Dionisia Tabureguci

Hong Kong hotelier, Richard Chiu, is looking at opportunities to build more hotels in the South Pacific region as growth prospects for this industry has been described as promising, particularly in Fiji and Samoa.

Chiu, who heads the Warwick group of hotels internationally, was in Fiji last month to announce a F$12 million 100-room expansion project for Naviti Resort along the Coral Coast.
“I think people are now realising that the Pacific is the ‘Last Frontier’ and I mean that in a positive way. They are starting to realise that if you are in search of a clean environment, natural beauty, you have to come here,” he said.

Cable & Wireless reveals why FINTEL/TFL merger makes sense

A renewed attempt to merge two local telco megapowers is now seriously being explored by their shareholders...


RIGHT: Ian Kyle, C&W's Fiji-based regional director for C&W in the Pacific.

by Dionisia Tabureguci

THE OPERATIONS of Fiji International Telecommunications Ltd (FINTEL) and Telecom Fiji Ltd (TFL) are currently tagged to come under one portfolio as talks, described as being “very delicate right now”, progressed into its first two weekends when this edition went to press.

At least one shareholder, UK-based Cable & Wireless plc (C&W), has indicated a desire to see this undertaking come to fruition because it believes merging the two entities would ease the currently complex nature of domestic and international telecommunication service provision in Fiji.

USP's financial position on council agenda

by Dionisia Tabureguci

As teachers and students’ morale continue to sink at the Fiji-based main campus of the University of the South Pacific, the institution’s weak financial position and exorbitant salary packages enjoyed by its senior management are expected to top the agenda at this year’s first USP Council meeting, scheduled to take place in Tonga mid this month.

The salary packages are at the centre of rising tension between USP management and parties representing students and teachers within campus.

Critical times in Pacific tuna

Islands Business Magazine interviews Andrew Wright, Executive Director of the Pohnpei-based Western and Central Pacific Fisheries Commission (WCPFC). Better known as the Tuna Commission, the WCPFC is linked to management and conservation of the Pacific’s tuna resources.


Wright…ensuring sustainable tuna stock in Pacific waters

By Dionisia Tabureguci


After years of gestation, the Western and Central Pacific Fisheries Commission (WCPFC) was finally set up in 2004 to “bring together all those with an active interest in the tuna resources of the Western and Central Pacific Ocean (WCPO) in an effort to work collaboratively for the effective management, long-term conservation and sustainable use of tuna stocks in this region,” says executive director Andrew Wright.

As an organisation therefore, the Tuna Commission—as it is more commonly referred to—is a meeting point for countries that own tuna fishing grounds in the Pacific and countries that are not from the region but who come here to fish. In fishing speak, the latter are more commonly known as Distant Water Fishing Nations (DWFNs).
More specifically, they include fishing boats from Asia, Europe, South America and to a lesser extent Australia and New Zealand.

Nakelo men revive old meke

* Islands Business Exclusive

"The meke, performed only by men and held in high regard by the villagers, is called: 'Maravu Levu', which literally translates to mean: 'The Great Calm', but in the context of this dance is the name of a so-called 'waqa ni meke' or 'the ship that carries dances'"

by Dionisia Tabureguci
Thu, 5 Oct 2006

SUVA, FIJI ---- Spectators at the official opening night of the 3rd Melanesian Arts and Cultural Festival were treated to a rare performance of an over 70 year old meke (dance) by an 80-member group from Nakelo village in the province of Tailevu, central Viti Levu.

The meke, performed only by men and held in high regard by the villagers, is called: “Maravu Levu”, which literally translates to mean: “The Great Calm”, but in the context of this dance is the name of a so-called “waqa ni meke” or “the ship that carries dances”.

ANZ’s new Pacific chief confident in regional economies

“We have made much progress but progress to us here at ANZ is not just how many accounts we have opened nor how much people have saved with us. It is more a question about how we are contributing, how we are helping to unlock the potential in rural areas of the Pacific and whether we are making a real difference to the lives of the people we provide bank accounts and other services to.” 

- Mike Guerin, new managing director of ANZ's Pacific operation.


by Dionisia Tabureguci

PACIFIC island countries are going to see more of the Australia and New Zealand Banking Group as it continues to make its presence felt in the region.

The new managing director of its Pacific operations Mike Guerin said the bank has a number of plans geared towards extending its reach in the region further than the 10 countries that it operates in. 

“I believe ANZ can contribute to the local economies by providing international expertise and knowledge transfer, building local employment opportunities and international career options for Pacific islanders and by ensuring ANZ maintains and grows points of representation throughout the Pacific,” said Guerin in an interview with Islands Business Magazine.

Interim government investigates “new information” in mine deal

Rehab Deed for mine sale delayed

By Dionisia Tabureguci

FIJI’s interim government has deliberately delayed the signing of the Deed of Rehabilitation for the sale of Emperor Gold Mine (EGM) in Vatukoula because of what it says are “new information” that it has begun to investigate.

As corporate announcements in Australia allude to the completion of the sale process between Emperor Mines Ltd (EML), the ASX-listed owner of EGM, and Westech Gold Pty Ltd, a private company in Australia headed by former EGM engineering consultant Brian Wesson, Fiji’s interim attorney general Aiyaz Sayed-Khaiyum has confirmed to Fiji Business magazine that “certain matters have come to light and which we are in the process of investigating and verifying”. Saiyed-Khaiyum chose not to elaborate on what these “certain matters” may be but gave indication that a decision may be reached by the end of the week (end of March).

Will Datec Crumble?

SAP enters Fiji's software market through Pacific Connex but Datec Fiji is not batting an eyelid

by Dionisia Tabureguci

DEPENDING on who you’re talking to in Fiji’s software industry, there are varied views on the advent of SAP business solutions to our shores but if there is a common ground, it has to be the growing perception that this Johnny-come-lately is a harbringer of changes never seen before in the market.

There are those who prophesy the demise of a certain major reseller, those who believe in the possible transformation of the smaller software companies, the shift to oblivion of those not receptive to the anticipated changes forecasted for the industry and most will nod emphatically as if it is a kind of vindication that, yes indeed, SAP will be something of a reckoning for a lot of people.