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► MediaAnnual Report Snapshot

Annual Report Summaries

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2017 - Summary Performance

For the fiscal year ending 31st December 2017, the iTaukei Land Trust Board achieved more than eighty percent (80%) increase in its net surplus amounting to $2.2 million in comparison to the $1.24 million achieved in 2016. The total Trust income collected during the year was $73.29m compared to the $66.88m collected in 2016. Ensuring that the landowners receive a fair market value of their land, the total income distributed to them totaled $73.54 million. For the first time, the Board also set up a grant initiative that specifically targets the landowners who wish to lease their own lands. This year saw $200,000 being distributed to 29 recipients.  





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2016 - Summary Performance


Despite experiencing a devastating Category five (5) tropical cyclone in February, the Board still managed to make a profit of $1.24 million and the overall financial performance was quite satisfactory. Investments that are both; held to maturity and available for sale both increased, therefore increasing total investment to $13 million compared to $11 million in 2015. The Board distributed $66million out of the $70million it received, to the landowners. TLTB even expanded its operations, with the opening of two (2) of its sub-regional offices in Korovou and Rakiraki and the quality of leases created were high in quality which raked in an improved premium rate.





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2015 - Summary Performance


The iTaukei Land Trust Board recorded a profit of $2.77 million in comparison to the $2.74 million in 2014. A contributing factor to this achievement was the reduction in expenses by more than $200,000. The Board also managed to distribute more than $67million to the landowners while more than $11 million are still pending distribution. This is because the minor’s funds are still being withheld by the Board until investment options are finalised. A milestone achievement for TLTB during the year, was the winning of the Gold Award at the National Quality Convention of which the winning team will be representing Fiji to the International Quality Circle Convention in Singapore, next year.





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2014 - Summary Performance
 
  
Compared to 2013, the total income for the year had decreased to 14.78 million while expenses increased to $11.36 million, yet, still recording a surplus of $3.42 million. During the year, the Board had focused on providing efficient quality service and improving its operations. This made a significant impact on the collection of Landowner’s income which recorded an all-time high at $61,021,502 and distributed $62,453,574.








2013 - Summary Performance 2013-AR-(10).PNG

A good result was achieved in the year 2013 with the total income amounting to $16,801,050 and expenditure settled at $10,886,038, generating a profit of $5,915,012. Out of the $54,101,255 Landowner’s income that was collected, the amount distributed to the landowners was $52,488,691 which was 97% of the total received. Compared to the previous years, the variance in the amount collected and amount distributed had greatly dropped.








2012-AR-(12).PNG2012 - Summary Performance

A notable increase in total income of $18 million was recorded in 2011. Expenditure was slightly over than $13 million, resulting in a net surplus of $4.98 million. Landowner’s income collected in the year grew to $50,524,155 but funds distributed were even higher at $51,535,090.This year also witnessed the implementation and formation of the Fiji Business in Excellence Awards (FBEA).








2011-AR-(8).JPG2011 - Summary Performance

The total income of the Board in 2011 was $11,836,970 while expenditure dropped considerably to $6,599,085 thus raising the profit to $5.23 million. Landowners funds collected had slightly dropped to $43,161,266 but the Board distributed $46,572,660 which was inclusive of some of the funds pending distribution in 2010. Some of the changes, including the re-branding of NLTB to TLTB were mandated by the Government and implemented by the Board that justified the financial outcome of the year. 








 

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