developers

New Hebrides warning to developers

From a Vila correspondent The British Government in the New Hebrides sees the growing finance in dustry there as an important credit facility which will help boost local development. At the same time it warns that if financiers and developers neglect Melanesian aspirations, and fail to key their roles to them, the end will be disaster.

Britain’s view was put clearly in Vila in November by the British Resident Commissioner, Mr Colin Allan, in officially opening Melitco House, headquarters of the Melanesia International Trust. It was plain speaking of a sort not often heard in public at this level. Financiers present reacted favourably; but there was some soreness in other quarters.

Mr Allan said the history of the Pacific Island territories showed that provision of irresponsible credit had been a curse, and the lack of correct evaluation of viable commercial enter prises had hampered development.

Responsible credit for balanced de velopment, in private and public sectors, was now in the process of being provided in the New Hebrides.

The spin-off from the recent expan sion of the New Hebrides investment industry included an increase in the number of visitors who spent money there, and construction of office buildings and houses, and provision of new industries and services all of which meant more jobs. There were signs that the improved economy was penetrating the rural area.

First priority now was to reduce the quantities of processed and fresh foodstuffs being imported, and the investment industry could help in this and thus close the growing unfavour able balance of trade.

Mr Allan said the New Hebrides was today feeling the effects of an inflationary spiral of far-away coun tries of 1969 and 1970, and it was determined to control it. He added: “The day has gone when a few in dividuals may hold the New Hebrides to ransom and pollute these islands and seas for their private exorbitant profits. I would like to make it clear that my Administration and I will not be even faintly deterred by the political pressurising of those few irresponsible property owners who simply seek their personal enrichment at the expense of the fair and reason

able expectations of the people of this territory.

“Already, thanks to the exaggerated and ill-conceived optimism which has developed in this field, we in Vila have 121 years’ supply of so-called residential plots in and around the town while, not very far afield on the environs, the euphoria for subdivision which exists is such that a splendid carpet of coconuts covers the grass of certain plantations and the quality of some of the cattle would scarcely qualify for the glue factory. On other plantations, however, correct hus bandry is being practised and our beef is already establishing a reputa tion which justifies entry into inter national markets.”

Mr Allan said that just as the forward-thinking banks of the world had to present anew image, so the investment industry “must re-think its image and re-define its role in the South Pacific.”

The Melanesians of the New Hebrides had an insatiable zest for communication, understanding and participation, and would look to the investment industry to respond.

“The industry must come to terms with all the people of these islands,”

Mr Allan said. “We would be all well advised to forget anything we ever felt we knew about other places, start afresh and decide what is best in the circumstances of the New Hebrides and our neighbours in the Pacific. I am not here talking about social justice but political sensibility.

“I believe that new guidelines of lending and monetary expertise must be carefully thought out and that the long-term success and mutual benefits of the industry depend upon adequate and fruitful communication between yourselves and ordinary people.

“Put another way—the traditional principles of sound commercial monetary and financial practices will continue to hold good but variants are needed to suit the different cir cumstances here in the New Hebrides and in doing business with our neighbours. In other words the in dustry should see itself not as an isolated identity but rather as part of the overall New Hebrides and South Pacific scene in which sound inter relationship of all men and women of whatever race, creed, language and occupation is fundamental. In par ticular the system must keep in mind the need for renewal—it should not become stale and atrophied. Other wise, 1 must tell you, the end will be disaster.”

The disaster, Mr Allan appeared to be warning, would occur to the financiers and the developers, not to the Melanesians.

Carpenter success

leads to expansion

W. R. Carpenter (South Pacific) Ltd, which has been undergoing a streamlining in its operations, plans to invest another $1,600,000 in capital works in Fiji next year. The new investment will include a 200-ton slipway, joinery and motor complex, all in the Walu Bay area. The figure does not include the bill for the rescue operation on Islands Trans port Ltd.

The report for the year ending June 30 shows increased turnover and pro fits for the company’s branches in Fiji, Tonga and Western Samoa.

Merchandise sales rose by nearly 16 per cent, automotive sales by 31 per cent and the industrial group sales by 19 per cent.

Net profit for W. R. Carpenter (South Pacific) Ltd was $2,636,800, and this after paying local suppliers $13,149,000 for goods and services, $6,094,000 in taxes and duties and $4,449,000 in salaries and wages.

Net operating profit for W. R.

Carpenter Holding Ltd increased from $A6,748,000 to $7,049,000.

NZ standardising

Trade Documents

New Zealand business firms are gradually changing over to a standard Aligned Export Documentation scheme, launched by New Zealand’s Customs Department. This, together with a standard invoice specially designed to be acceptable to Aus tralian and Fiji importers, will relieve Islands businessmen who’ve moaned for many years over the incomplete or inaccurate documentation issuing from Kiwi business houses.

The New Zealand Customs, who’ve mounted a campaign to persuade business to use the new standard forms, are underlining the savings in time and money. They could have mentioned the improvement in public relations with overseas customers that will result from the use of uniform documents. • Shortly after Fiji’s latest resort hotel, the Flagship Beachcomber, at Deuba, was officially opened in November, Flagship Hotels announced that the chain had changed its name to Americana Hotels, and the Flag ship Beachcomber would henceforth be known as the Beachcomber, “an Americana hotel”. The hotel com pany’s parent corporation. Flagship International Inc., which is involved in various activities, and is a wholly owned subsidiary of American Air lines, will continue to take the Flag ship name.