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SEREANA QORO - LIES EXPOSED (RAW FIJI NEWS)
Sereana Qoro’s lies exposed
Sereana Qoro, the woman coupster who successfully out-smarted her one-time high profile bosses is feeling very jittery, now that the truth is out there for all to see with the release of their FHL annual report. She is scared that FHL profits has already taken an ugly south-ward turn soon after she usurped it, a disturbing financial performance she will have to explain to their FHL shareholders at their Annual General Meeting next week. So far, she is saying that the reduced profits is due to the new international accounting system FHL has adopted and is even blaming the RB Patel acquistion approved by the previous Board as something that has negatively impacted their bottomline. But the truth is far from her deceitful claims when one studies FHL’s latest annual report.
Sereana is trying in vain to cover up her real dark side that pushed her to join the military regime’s gravy train in couping FHL’s Board and management. And one just has to take a glance at the FHL annual report to see and smell the stench behind her conniving behavior. No one, and not even Sereana Qoro can argue that it was her own Basic Industries Limited of which she was the CEO, that was the weak link and the poorest performer in the FHL Group.
A closer look at the financial report clearly shows that it was Sereana Qoro’s subsidiary company that is the root cause of FHL’s reduced group consolidated profit. It means that Sereana was poorly performing and was obviously not meeting her targets. It means that Sereana’s non-performance and huge financial losses at Basic Industries had to be propped up by the hard work of other CEOs’ and their teams from other FHL subsidiaries. In other words, Sereana’s millions of dollars of losses had to be subsidised by the sweat of other high performing teams from other FHL subsidiary companies. She was riding free on other peoples hard work. She knew she was lagging behind in her financial contribution to the FHL profit pie and she probably felt that her job was on the line and that her performance-driven Board was not going to take her million dollars losses too kindly. Her preferential affirmative Fijian woman executive career path mapped out under the Fijian Affirmative Action Plan was coming to an end. Her disastrous track-record from NLTB (not being able to produce NLTB annual reports during her years there), Rewa Dairy ( almost went bankrupt but was saved by the government of the day) and Housing Auhority (was insolvent and couldn’t turn it around until Sitiveni Weleilakeba went in as Chairman) was repeating itself at Basic Industries and she needed to do something to hide her filthy droppings.
A further analysis of Sereana’s books also exposes her poor money management skills with Basic Industries showing a significant increase in operating expenses that is not matched with a corresponding profitable growth in revenue.There seemed to have been alot of activities happening at Basic Industries but somehow, it was not able to convert itself into profits. So where was the money going to and why wasn’t sufficient income derived from it? Could it be that part of it was channeled to Sereana Qoro, Asif Mussa and Mosese Volavola’s various joint business ventures with Basic Industries own contractors?
Posted by rawfijinews
http://rawfijinews.wordpress.com/2008/10/29/coupster-sereana-qoro-p...
Coupster Sereana Qoro pays herself $600,000
October 29, 2008
There are fresh revelation today that military appointed boss of FHL, Sereana Qoro, is laughing to the bank with her package of $600,000 per annum. Insiders say she convinced her military appointed Board of Directors to pay her this hefty package after she used her newly appointed Merchant Bank CEO salary of $400,000 per year as benchmark. This she did before the release of FHL’s annual financial report which proved without doubt that Sereana failed to deliver the results required of her as the then CEO of Basic Industries. And questions are now being raised as to why the new-look FHL Board could justify such an exorbitant salary package for Sereana with the knowledge that she was the non-performer in the FHL group that ultimately led to the nasty reduction in the total group profits.
These sources also say that Sereana now has two company four-wheel drive vehicles after she demanded that the company buy her a new Prado soon after her appointment. She still has her company Mitsubishi one which her secretary uses for Sereana’s personal errands.
But it is also said that Frank, the interim Ministers and the senior military officers are complaining about their girl’s unbelievable pay package saying that she is taking the cream for all their coup-coup hard work. Sources from FICAC have confirmed that Sereana’s predecessor was getting less than half of what Sereana is now receiving. They say that certain high profile individuals in the junta are up in arms with the FHL Board and Sereana for the huge disparity between what they are receiving compared to what the coup beneficiaries are getting as riders-on.
Sereana Qoro, the woman coupster who successfully out-smarted her one-time high profile bosses is feeling very jittery, now that the truth is out there for all to see with the release of their FHL annual report. She is scared that FHL profits has already taken an ugly south-ward turn soon after she usurped it, a disturbing financial performance she will have to explain to their FHL shareholders at their Annual General Meeting next week. So far, she is saying that the reduced profits is due to the new international accounting system FHL has adopted and is even blaming the RB Patel acquistion approved by the previous Board as something that has negatively impacted their bottomline. But the truth is far from her deceitful claims when one studies FHL’s latest annual report.
Sereana is trying in vain to cover up her real dark side that pushed her to join the military regime’s gravy train in couping FHL’s Board and management. And one just has to take a glance at the FHL annual report to see and smell the stench behind her conniving behavior. No one, and not even Sereana Qoro can argue that it was her own Basic Industries Limited of which she was the CEO, that was the weak link and the poorest performer in the FHL Group.
A closer look at the financial report clearly shows that it was Sereana Qoro’s subsidiary company that is the root cause of FHL’s reduced group consolidated profit. It means that Sereana was poorly performing and was obviously not meeting her targets. It means that Sereana’s non-performance and huge financial losses at Basic Industries had to be propped up by the hard work of other CEOs’ and their teams from other FHL subsidiaries. In other words, Sereana’s millions of dollars of losses had to be subsidised by the sweat of other high performing teams from other FHL subsidiary companies. She was riding free on other peoples hard work. She knew she was lagging behind in her financial contribution to the FHL profit pie and she probably felt that her job was on the line and that her performance-driven Board was not going to take her million dollars losses too kindly. Her preferential affirmative Fijian woman executive career path mapped out under the Fijian Affirmative Action Plan was coming to an end. Her disastrous track-record from NLTB (not being able to produce NLTB annual reports during her years there), Rewa Dairy ( almost went bankrupt but was saved by the government of the day) and Housing Auhority (was insolvent and couldn’t turn it around until Sitiveni Weleilakeba went in as Chairman) was repeating itself at Basic Industries and she needed to do something to hide her filthy droppings.
A further analysis of Sereana’s books also exposes her poor money management skills with Basic Industries showing a significant increase in operating expenses that is not matched with a corresponding profitable growth in revenue.There seemed to have been alot of activities happening at Basic Industries but somehow, it was not able to convert itself into profits. So where was the money going to and why wasn’t sufficient income derived from it? Could it be that part of it was channeled to Sereana Qoro, Asif Mussa and Mosese Volavola’s various joint business ventures with Basic Industries own contractors?
Posted by rawfijinews
http://rawfijinews.wordpress.com/2008/10/29/coupster-sereana-qoro-p...
Coupster Sereana Qoro pays herself $600,000
October 29, 2008
There are fresh revelation today that military appointed boss of FHL, Sereana Qoro, is laughing to the bank with her package of $600,000 per annum. Insiders say she convinced her military appointed Board of Directors to pay her this hefty package after she used her newly appointed Merchant Bank CEO salary of $400,000 per year as benchmark. This she did before the release of FHL’s annual financial report which proved without doubt that Sereana failed to deliver the results required of her as the then CEO of Basic Industries. And questions are now being raised as to why the new-look FHL Board could justify such an exorbitant salary package for Sereana with the knowledge that she was the non-performer in the FHL group that ultimately led to the nasty reduction in the total group profits.
These sources also say that Sereana now has two company four-wheel drive vehicles after she demanded that the company buy her a new Prado soon after her appointment. She still has her company Mitsubishi one which her secretary uses for Sereana’s personal errands.
But it is also said that Frank, the interim Ministers and the senior military officers are complaining about their girl’s unbelievable pay package saying that she is taking the cream for all their coup-coup hard work. Sources from FICAC have confirmed that Sereana’s predecessor was getting less than half of what Sereana is now receiving. They say that certain high profile individuals in the junta are up in arms with the FHL Board and Sereana for the huge disparity between what they are receiving compared to what the coup beneficiaries are getting as riders-on.
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Replies to This Discussion
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Permalink Reply by Heavenly on -
Sereana Qoro on a PR frenzy to cover up failed BP deal
February 27, 2009
http://rawfijinews.wordpress.com/2009/02/
FHL’s Managing Director, Sereana Qoro, is busy with her skit shows in juntawood. She is drumming up insignificant things her office is playing around with to distract peoples attention from the mess that she has accumulated over just a few months since she took over office.
Her latest 6 months FHL group consolidated unaudited financial report is hardly anything to be excited about. Everybody knows that those results are not of her doing. She is reaping the good fruits of what the ousted board and management sowed in their RB Patel acquisition.
Journalists should ask Sereana to outline the breakdown of the performance of each FHL subsidiary that made up that consolidated unaudited result for more transparency. And that is exactly where the truth lies. Her Basic Industries Limited subsidiary is the worst performing one, being subsidized by the good results of RB Patel, but of course she will not highlight that because it will only expose her incompetence.
Now, she is gahgah about the laptop prizes FHL has given to a selected indigenous Fijian students. Why only native Fijians Sereana? FHL Unit Trust is available to all races across the board so why discriminate against other top students from other races? Isn’t that racial prejudice? Hey Shaista Shameem, what’s your take there? Nah, forget it. We don’t wanna hear it.
February has come and gone, yet there is still no money to fund the deal. Waz up Sereana? We weren’t born yesterday dude so tell the truth.
Tell the public that FHL has not been able to meet the Sale and Purchase Agreement deadline of 1 March 2009. Tell the public and FHL shareholders that BP South Pacific now have all the legal powers to crystalize FHL’s security held against this failed deal. What a bummer of a deal that was!
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Permalink Reply by Heavenly on
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FHL shareholders should take the Board to court
February 26, 2009
That FHL buy-out of BP Oil has fallen through!
http://rawfijinews.wordpress.com/2009/02/26/fhl-shareholders-should...
Isoa Kalouimara, Sereana Qoro, Colonel Aziz Mohammed, Padam Lala, Michael Makasiale, Radike Qereqeretabua, Iowane Naiveli and Isirami Baya are FHL board members who should now be taken to task for carelessly approving a non-goer failed deal that has already cost the shareholders $20million non-refundable deposit plus another $10million for legal fees, financial consultancy fees, and other sunk costs associated with this lavish but woobly buy-out.
FHL individual A class shareholders should now start working towards launching a law suit against their irresponsible board of directors. They have failed to exercise duty of care on behalf of the shareholders and have failed to uphold their role as directors. They should be severely punished and shareholders should go after their personal estates as well.
In essence, what the board has done is throw away more than $30 million dollars of FHL shareholders money just like that. That money could have been better utilized if it was paid back to a legitimate government of the day to square off the $20million start-up capital plus interest given to FHL by the Alliance government to clear FHL from any further mud slinging with political rat bags.
FHL shareholders have the right to hang these individuals and they had better get started now. Isn’t that what the coup was all about? Clean-up corruption?
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Permalink Reply by Heavenly on
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Sereana Qoro fails in her Fiji Sun coup attempt
http://rawfijinews.wordpress.com/2008/07/06/sereana-qoro-fails-in-h...
Sereana Qoro's attempt to dominate the local newspaper Fiji Sun for
the benefit of her appointee, the military government, has come to
nought.
Sources have confirmed that Qoro is trying to push military
spokesman, Leweni, into the Fiji Sun Board but failed after realising
that the Fijian company , FHL, she couped on behalf of the junta,
does not have any rights at the Fiji Sun Board level.
Qoro is said to be disappointed with her failed attempt to coup Fiji
Sun, the newspaper that revealed many explosive and factual details
about Chaudhry's tax scam.
Intelligence received by RFN show that Qoro was directed by Frank
and Chaudhry to take over Fiji Sun as one of her first duty as boss of
FHL. But unfortunately for Qoro, she now has to report back to her
military superiors that her proposition for FHL to dictate terms to Fiji
Sun was a poorly thought-out point-scoring gimmick by her. Watch
her and her newly appointed Board push the junta for the cancellation
of Fiji Sun's publishing license.
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Permalink Reply by boso on -
This Raw news about Sereana Qoro is all bullshyte.. Can they start writing about raw fish and kokoda..more interesting than crying over spilled milk.
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Permalink Reply by Heavenly on
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Sereana Qoro begins to bankrupt FHL
September 30, 2008
Latest financial result released by FHL should be a major concern to all its indigenous Fijian shareholders. This Fijian commercial enterprise flagship is beginning to nosedive and it’s a direct reflection of the current leadership failure.
You don’t have to be a business wiz to figure out that the success of any company is reliant on the composition of its board and management. And with all the horror stories emanating from FHL about the demoralising and non-commercial habits of its military appointed board and management, this indigenous Fijian company will in no time become an absolute embarrasement.
Sereana Qoro is a morally and spiritually bankrupt woman. She is a curse to FHL and the Fijian race that FHL represents. Word from within is that the revelation we exposed right here regarding Sereana’s corrupt dealings is rocking the three executives concerned, Sereana, Aiyaz Mussa and Mosese Volavola to the core and is beginning to strain their relationship. Sources say they are blaming each other on almost everything and that their once thriving money-under-the-table schemes with the Basic Industries contractors is breaking.
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Permalink Reply by Heavenly on
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Sereana Qoro’s scam
September 17, 2008
Revelations have surfaced about that FHL self-styled coupster, Sereana Qoro’s dark side. The churchified woman is said to be involved in a racket that involves contractors commissioned to carry out works for Basic Industries, that FHL subsidiary she was in charge of before her boardroom coup.
Sources from these contracting companies confirm that Sereana Qoro and two other senior staff from Basic Industries are involved in her scam. The two senior staff were recently promoted by her, one as FHL Group CFO, Aiyaz Mussa and the other as Basic Industries new CEO, Mosese Volavola.
These sources say that large sums of money has been paid to the three over the years as commission for the contracts awarded to the companies. A trucking company involved in transporting Basic Industries raw materials and finished products has confirmed paying money to Sereana, Aiyaz and Mosese. It is understood that in some instances, Sereana requested they remit the funds directly to an Australian account to pay for her childrens tuition. Other payments were made in cash to the three. Stay tuned for more!
Posted by rawfijinews
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Permalink Reply by Heavenly on
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Sereana Qoro’s children face the wrath of her illegal act
August 25, 2008
Word from the FHL corridors is that Sereana Qoro’s two children have returned to Fiji after they were alienated by the strict immigration rules by the Australian government, in line with the stern action by other members of the international community.
It is understood that her daughter is now employed by the accounting firm PricewaterHouse Coopers in Suva. But concerns have been raised about her appointment to PWC and it is believed that the Institute of Accountants in Fiji was approached to explain if there has been any breach in transperancy and good corporate governance over the appointment.
These concerns have come to light after revelations that PWC is FHL’s external auditor which makes the appointment of the FHL boss’s daughter to the accounting firm questionable. It is also understood that the appointment contradicts the independence of PWC’s partners from trying to leverage their FHL audit contract against Sereana Qoro’s daughter’s appointment.
On another note, FHL Chairman, Isoa Kaloimar’s two children who were studying in Christchurch, New Zealand,are believed to be back in Fiji, again due to their father’s involvement with Frank’s coup.
Posted by rawfijinews
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