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MRDC'S SOUTH PACIFIC PEARL RESORT IN FIJI IN FINANCIAL TROUBLE

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MRDC is the Trustee of funds belonging to Landowners of major resource projects in the country. It makes "investments" on behalf of the landowners. Peter O'Neil in his capacity as PM owns the shares of MRDC and Chief Secretary Isaac Lupari is the Chairman of the Board.

In 2012 CEO Augustine Mano and the MRDC board bought the fledgeling Resort in Fiji with much fanfare. The resort boasts an 18 hole golf course and numerous swimming pools. This transaction was rushed despite opposition from landowners and against the advice of experts in the hospitality industry in Fiji. MRDC not only purchased the resort but it also invested heavily in the construction of a new wing.

It appears that the resort is now in serious financial strife with very low occupancy rates and dwindling income. Rooms are believed to be offered now for as low as K120 as no one is going there. The financial status of the resort and all other MRDC investments cannot be confirmed as the financial statements h…