Vision Fiji

active

Headquarted in Samabula, Fiji, Vision Investments Limited (formerly Courts (Fiji) Limited; hereinafter “Vision”, “Courts” or the “Company”) is a leading retail company distributing consumer electronics, furniture and durable home goods in Fiji.The proposed project is an equity investment of FJD10 million in a private placement of Vision Investments Limited, which will acquire and merge operations of three other affiliate companies, namely, Vision Motors Limited (“VM”), Mahogany Industries (Fiji) Limited (“MIF”), and Vision Finance Limited (“VF”) to be used for repayment of bank loans and other business activities (the “Project”).Courts commenced trading in Fiji in 1971 and currently is one of the Fiji’s largest retailers of electrical goods, furniture, computers, audio-visual equipment, floor coverings, sports goods and other products, with store outlets located in all major cities and towns in Fiji. Courts also provides consumer finance for its clients. Currently Courts operates 25 retail stores and 5 Service Centers in Fiji. Total sales area is 17,100 square meters including three stores of 2,000-3,000 square meters each, one store of 1,100 square meters, and sales area of other stores is less than 1,000 square meters. Courts plans to commence its new store (estimated square area is 1,600 square meters) in Nakasi (Fiji) in 2016.Vision Motors (“VM”) Limited has developed a diverse portfolio of world renowned motor vehicle franchises including heavy commercial trucks, light commercial trucks, commercial vans, pick – ups, sedans and forklifts. Ancillary merchandise includes range of automotive and industrial lubricants and automotive tires. The industrial division markets a range of industrial products such as lifts and elevators, insulators, pumps, generators, and buggy carts. In addition, the company offers trucks and cars services for its customers in Fiji.Mahogany Industries (Fiji) Limited (“MIF”) is a furniture manufacturing and joinery business, primarily using mahogany and pine timber from Fiji’s forestry industry. Customers include the hotel sector, high-end dwellings and the export markets. It also retails furniture products to local retail customers through Courts stores. The major production facility of MIF is located in Lautoka, Fiji and comprises a drying kiln, machining, joinery, upholstery and polishing departments. The operational process includes drying of purchased timber, sawing, assembling, and polishing. In addition MIF operates a furniture manufacturing workshop in Suva, Fiji where joining, upholstery and polishing works are performed. The MIF Suva plant is planned to be relocated to Nakasi area.Vision Finance Limited (“VF”) provides extended warranty on selected durable home goods and debt guarantee to customers of Courts that take consumer finance on their purchases. All activities of VF are performed at Courts premises.