Lakeba Nexus nets $31,000

Lakeba Nexus Holdings has achieved its first earnings from pine timber sales, receiving more than $31,000 from its initial harvest. Nausori Paints and Hardware acquired 31 cubic meters of pine timber, marking a significant milestone for the company.

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The buyer has requested an additional 40 cubic metres for next week.

Chairman Ratu Tevita Uluilakeba Mara witnessed the transaction in Nausori. Company representative Aisake Taito confirmed the full order was delivered without any rejections. Demand for the timber is growing, with the buyer requesting an additional 40 cubic meters for the following week.

Lakeba Nexus is prioritizing quality, consistency, and timely supply, having secured its market before harvesting began. Nausori Paints and Hardware Yard Supervisor Asnheel Lal noted the high demand for the timber, particularly for lengths up to seven meters, which are rare in Fiji. He expressed hope for continued sourcing from Lakeba.

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The partnership ensures a steady timber supply from Lakeba.

Taito also highlighted the company's focus on building a strong financial base, with a dividend policy to be established by the Annual General Meeting in December 2027. This policy will guide future discussions on benefits, savings, and investment plans. The company thanked the government and relevant ministries for their support.

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He says it includes lengths of up to seven metres, which are rare in Fiji.