Niue Premier Quiet Over Shared Reef Group Assets
WELLINGTON, New Zealand (Radio New Zealand International, Feb. 13, 2013) – The premier of Niue says he is not prepared to discuss what will happen to assets his government co-owns with the collapsed Reef Group.
Niue and Reef were partners in a noni farm and a huge fishing plant that has lain idle for several years.
The U.S. shipping operator, Matson, has bought the shipping assets and assumed most routes that Reef had previously serviced.
But it remains unclear what will happen to the other assets, including those on Niue and the premier, Toke Talagi, says he will not comment on the matter in the media.
A trade in noni that the company established in China collapsed last year amid allegations that Reef’s partner in the enterprise was facing corruption allegations.
Fairfax media reports that Reef left debts of US$26 million while the sale of its ships to Matson cost the U.S. company just under US$10 million.
Radio New Zealand International: www.rnzi.com
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