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HAVE WE GOT NEWS FOR YOU: When will FBC head chief Riyaz Sayed Khaiyum resign and move on - questions still cloud FBC's huge losses!

8/4/2015

5 Comments

 
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The Auditor General’s report states that the deficit of $342,887 for the shareholder’s equity in FBC’s Statement of Financial position indicate that the company does not have enough assets which stands at $22.4 million to match all FBC’s borrowing to external parties totalling $22.7 million.
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Khaiyum Brothers raid on the FDB to start FBC TV: Victor Lal

With the arrival of little brother Riyaz at the helm of FBC, FDB was instructed to make available a loan of $17,846,315 to the company for it to embark on the television project. The property mortgaged or charged was the company’s assets and undertakings including its uncalled and unpaid capital. The debenture of 26 August 2009 was the following: Crown Lease No 2748 being Lot 2 Section 12 (Pt of) Suva City, Rewa, Area: 1 Rood 19.2 Perches LD Ref 8/59.

By 11 May 2011, the Khaiyum brothers had obtained from the FDB a staggering $22,696,465.05 for the FBC to build a rival television station in post-coup Fiji.

It was only a matter of time before Fiji TV was going to be targeted by them, especially by Aiyaz with the recent infamous television amendment decree.


The freedom blog Fiji Democracy Now has spoken on behalf of the suffering majority regarding the Television (Amendment) Decree 52 of 2012:

“It’s nothing more than a blunt instrument designed to brutally suppress our broadcast media and it’s clearly tailor-made for application against Fiji TV. And the content and timing of the Decree have exposed Aiyaz Sayed-Khaiyum’s huge ego, vanity and contempt for Fijian values. He is sending out a clear message: “Look at me! I am the big man! Between us, my brother Riyaz and I can control what you see and hear on Fiji’s broadcast media. What I say is law and there’s nothing you inferior minions can do about it!”

What Fiji Democracy Now did not remind we are transcripts of television scripts? We may recall the fate of Fiji TV during the 2000 attempted coup, when it was smashed up by a mob while reporter Riyaz Sayed Khaiyum was chairing the Close UP programme. His guests were Jone Dakuvula and William Parkinson.

The mob was angered by Dakuvula’s courageous and forthright denunciation of the perpetrators of the 2000 coup. What Dakuvula, who later worked for the National Council for Building a Better Fiji Technical Secretariat, and had also served as Chief Assistant Secretary and Press Secretary to Prime Minister Sitiveni Rabuka and later worked for the Citizens’ Constitutional Forum, noted is equally apt to describe the Khaiyum brothers.

When Riyaz had asked what naked interest, Dakuvula had answered: “The naked interest is, a bunch of people who want to get to power through unlawful means and they couldn't get it through the constitution, and therefore they want it through a coup and they want to impose a system of government here in the name of indigenous rights.”

The brothers, Aiyaz and Riyaz are where they are, not on merit but through the barrel of the gun and the abrogation of the 1997 Constitution – with Aiyaz doing the bidding for Riyaz’s FBC TV against Fiji TV.

Aiyaz Sayed Khaiyum was recently lecturing his critics: “Fiji TV, like all other media organisations, needed to adhere to the Media Code of Ethics and Practice and be balanced and fair, not just in form but in substance,”

The 2000 slogan of indigenous rights has been replaced by “brotherly blood rights” in 2012.

“Good Morning, Fiji-Welcome to The Khaiyum Airwaves”:


What’s new: Fijiwood blockbuster featuring the Khaiyums, and directed by Aiyaz Sayed Khaiyum.

Clip 52: Television (Amendment) Decree 52 of 2012.
http://www.coup5.com/2012/07/khaiyums-22million-bank-loan-to-set-up.html
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5 Comments
Fijileaks Moderator
8/4/2015 02:10:36 am

Chiku

Please can you moderate the tone of your language if you want your comment to be approved for posting.

You can make the same point without using unpleasant words

Thanks
Fijileaks Moderator

Reply
Chiku
8/4/2015 02:43:04 am

Reaz Sayed Khaiyum is the head chief of FBC on account of the nepotism in the Bainimarama -Khaiyum dictatorship in Fiji. Both Aiyaz Sayed Khaiyum and Bainimarama installed their family and friends and cronies in high positions.. With all the goodies that have come his way - courtesy of his elder brothers position in the Bainimarama regime - riaz Khaiyum really has no reason to resign and move.on.

Reply
FBC PRICE
8/4/2015 03:11:26 am

So they have a huge debt? Right!!!!
And you appoint a junior journo to be the all.. end all... senior executive..brother in arms...right..

So in a constitutional dictatorship..what is the price?? what is a monetary loss, what is a gain... who pays?...who is burdened?

Do they care...isn't it a tandem of survival or we all fall...

Reply
Napotism Culture
8/4/2015 03:21:44 am

No wonder why Khaiyum decreed to have Fiji TV share Rugby coverage by having asked Fiji TV to pay FBC's pro-rata share...!

This napotism is excellerating Fiji's progress [regress financially] as US$ has dropped from 0.56c to now 0.475c. Wait till USD slightly strengthens and see how Fiji is back to 2009 cost of living.

This is what we expect from napotism with one lawyer being Finance Minister and one military commander's family controlling ministry of works and Chinese Loans for road works...!!!!

Reply
Riaz - A small fish
8/4/2015 03:19:08 pm

Why not compare losses made to pamper China Rail for MILLIONS more for their own breach of contract by deceitfully amending the engineers design rules that leds to suspension of Raiwaqa Housing works.

Whose palms were greased there that the contractor never got fired BUT given more money to fix their corrupt practice?

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