‘Tim fan’ confused, says Merchant of Paradise developer

Wednesday September 19, 2018 Published in Letters to the Editor

Dear Editor,

 

May I respond to the letter by “Tim Fan Too” on September 15 headed “Tread carefully, landowners advised”, in which he was messaging my failure to manage my companies to damage me and disrupt the Paradise Prosperity Plan (PPP) by Merchant of Paradise (MOP) to develop the Pa Enua.

According to drumbeats on the coconut wireless, Tim Fan Too is another surrogate of the cartel of the highest order, who worked for me, and is now tasked to damage me by pointing out my failures as company manager after the original Tim Fan failed to damage me by discrediting unit title developments I have undertaken. Given his knowledge of assets I have developed, I have to believe those drumbeats.

And according to the latest drumbeats there are more Tim Fans coming to disrupt and stop the PPP development, but using different pseudonyms and targeting MOP partners that I have chosen to manage the PPP matrix of assets. It seems I am now in the “too hard” basket. Yeah right!

Needless to say I will not roll out the list of directors and/or managers for the matrix of PPP asset holding companies and trusts, now that they are targets, save to say they were chosen for their faith in God and heart to help God’s children in the Pa Enua, and nothing at all like Tim Fan Too.

And yes, Tim Fan Too is right, I am a useless company manager, because I don’t manage my own companies – I engage managers like Tim Fan Too to manage them for me instead. And sometimes they are useless managers who collude with investors to take me and mine over, but I’m still standing!

And nothing is going to change that, because I develop assets, not operate them. As for Tim Fan Too’s scaremongering about my failure to manage companies and assets, fear not, because the teams of managers I have chosen to manage your PPP assets are void of self-interest and endowed with common interest– there’s none better!

As for Tim Fan Too, the poor fellow still hasn’t grasped the commercial structure employed for PPP developments, so I will explain it again for his benefit, if I may.

1. Goodwill is the land acquisition cost, or purchase price if you will, with land use for tourism acquired at $100,000 per acre, commercial use at $75,000 per acre, farming at $50,000 per acre and reserves for nonproductive land such as golf courses and roads at $25,000 per acre. This is paid up front in exchange for land lease!

2. Ground Rent at 1.5 per cent gross turnover is paid annually and dispersed by the Land Court, with rate of not less than 1 per cent statutory.

3. Profit Share is MOP’s gift to Landowners and structured at 67 per cent for local company status, also paid annually and contingent on operational profitability.

It goes without saying that Tim Fan Too suggesting the 67 per cent profit be paid up front reveals confusion to the extreme on his part, because profitability is an operational outcome realised, and not an upfront payment predetermined.

 I think he has lost the plot!

            Tim Tepaki

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