THURSDAY, JANUARY 19, 2017
business@tribunemedia.net
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Doctors to drop NHI pay moan ‘within three years’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
Scheme has ‘pretty good cushion’ against losses
A Canadian healthcare expert yesterday predicted that Bahamian doctors will drop their opposition to National Health Insurance’s (NHI) preferred payment mechanism “within three years”. Dr David Price, who is advising the Government’s NHI Secretariat and consultants, KPMG, on the scheme’s rollout, said the capitation mechanism was being designed with “a pretty good cushion” that would prevent physicians from suffer-
Modelled on patient visits ‘three times’ norm ing financial losses. He told Tribune Business in an exclusive interview that the capitation rates were being based on doctors receiving 2.22.3 visits from each patient per year, which was more than three times’ the Bahamas’ 0.7 annual visits average. Capitation, which would pay
doctors a set fee per patient, per year, is NHI’s preferred mechanism for compensating physicians. However, many doctors in the private sector are opposed to it, having previously told Tribune Business that their remuneration would be cut by up to 70 per cent. Dr Price and KPMG executives argued, though, that capitation had numerous merits, as it provided doctors with a predictable, set income upon which they could base their business and investment decisions. They added that it would also “incentivise” doctors to keep their patients healthy and en-
gage in preventative medicine, resulting in better treatment outcomes and greater patient satisfaction. NHI’s current design attempts to accommodate physician concerns, as it gives them the choice of capitation, feesfor-services or a hybrid of the two as their preferred remuneration method. However, Dr Price, chair of the Department of Family Medicine at Canada’s McMaster University, expressed confidence that private Bahamian physicians would switch to capitation once they See pg b6
Freeport ‘depopulation’ Bahamas can ‘leapfrog’ fear over resort closures rivals on health reforms By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net
FNM deputy: Constituents applying to Baha Mar
The FNM’s deputy leader yesterday expressed fears that Grand Bahama would again “depopulate” due to uncertainty surrounding its major hotels, as Memories’ parent denied claims it was pulling out. K P Turnquest, the east Grand Bahama MP, told Tribune Business that with both Memories and the Grand Lucayan yet to fully re-open following Hurricane Matthew, some of his constituents were already applying for jobs at Baha Mar. Memories has previously made clear its frustration with its landlord, Hutchison Whampoa, to effect post-Matthew repairs, and Tribune Business can reveal that several of its beach vendors and tenants have been told to remove furniture and other items from the property. See pg b7
Memories parent denies Grand Bahama pull-out Committed to ‘swift resolution’ over re-opening
K P Turnquest
Govt to address Business Licence ‘double tax’ woe By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Government has promised to address the Business Licence double taxation “anomaly” identified by the construction industry, the Chamber of Commerce’s chief executive said yesterday. Edison Sumner told Tribune Business that the Chamber had raised the issue in a meeting with Ministry of Finance officials this week,and received assurances that it would be remedied if necessary. “We did have an opportunity to meet with some executives at the Ministry of Finance to talk about these things, where we realised some concerns were raised over the Business Licence, particularly from the construction industry who felt they were being double taxed,” he told this newspaper. “That was one of the pressing issues we had a chance to address this week, and are satisfied that the Financial Secretary’s office is paying close attention to it and will make the necessary adjustments once they’ve done their own internal review of the system. “Where it’s found to have anomalies, they will address it appropriately.” Tribune Business revealed the construction
Chamber told it will review construction ‘anomaly’ VAT site ‘more efficient’ than Business Licence rival ‘Consistency’ urged between both sites
Edison Sumner industry’s ‘double taxation’ concerns last week in an interview with former Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chairman, Robert Myers. He warned that the resulting increased construction costs for consumers See pg b6
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
The proposed National Health Insurance (NHI) scheme has put the Bahamas “in a privileged position” of being able to “leapfrog” rival jurisdictions on implementing universal health coverage, the Government’s advisers said yesterday. Dr David Price, a Canadian healthcare expert who is assisting the NHI Secretariat and its consultants, the KPMG accounting firm, said the planned scheme was “particularly” impressive because it was designed specifically for the Bahamas’ needs. “What’s wonderful about what the Bahamas is doing, combining this with years of statistical-based evidence, is that it can leapfrog other countries, and use best evidence from around the globe to implement it properly,” Dr Price told Tribune Business.
Govt advisers say in ‘privileged position’ on NHI Scheme being designed purely for Bahamas’ needs ‘Short-term plan’, dates in place for roll-out “That’s what’s impressive about the model here. Nobody said we’re going to implement the New Zealand, the UK, the Canadian model. They’re taking what has been the evidence from around the world, and are contextualising it in the context of the Bahamas. “Every country has cultural-specific needs, and that’s what the group have been See pg b4
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NHI ‘can’t wait’ for public health system reforms No ‘immediate’ fix possible, said Govt advisers Confident ‘silent majority’ of doctors will sign on NHI benefits package ‘very close’ to finalised By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Bahamian public health system’s many flaws cannot be fixed “immediately”, the Government’s advisers conceded yesterday, as they expressed confidence that a “silent majority” of private doctors were willing to sign on for National Health Insurance (NHI). Dr David Price, a Canadian healthcare expert who is assisting the NHI Secretariat and its advisers, KPMG, told Tribune Business that the problems should not be used to delay the Government’s reforms indefinitely. “I don’t think you can fix those things immediately,” he said, after Tribune Business questioned whether NHI could succeed without first fixing the numerous structural weaknesses in the public system. “You have to have a plan and vision to get to the end point, and that’s what’s being developed here.” Many healthcare industry professionals have argued that the Government’s plan to introduce universal health coverage (UHC) in the Bahamas, for which NHI is the financing mechanism, will be doomed to fail without the public system being strengthened. Dr Kevin Bowe, the NHI secretariat’s deputy project manager, acknowledged to Tribune Business that much needed to be done in terms of improving the public healthcare system, but implied that it was no reason to delay NHI’s implementation. “We know there’s a lot to be done in terms of those facilities, and quality of service in those facilities,” he conceded. See pg b4
PAGE 2, Thursday, January 19, 2017
BISX All-Share index growth slowed in 2016
The Bahamas International Securities Exchange (BISX) closed 2016 with a $5 billion market capitalisation, even though it was outperformed by other global stock market indices. The exchange, revealing trading data and performance for the 2016 fourth quarter and full year, said its All-Share Index closed the year up by 6.26 per cent at 1,938.21. The Index, which only measures share price movements (it excludes dividends), appreciated by less than the 9.92 per cent growth it experienced in 2015. BISX’s All-Share Index also increased by less than the likes of the FTSE 100 Index and S&P 500, which appreciated by 14.42 per cent and 9.564 per cent, respectively, in 2016. Its growth was also less than the MSCI Emerging Market Index’s 8.58 per cent appreciation. It is difficult to read much into the BISX All-Share Index data, given that many
THE TRIBUNE stocks do not trade on fundamentals, while price movements are limited by the restrictions that prevent stocks increasing/decreasing by more than 10 per cent from the opening price. Comparisons with major stock market indices are also problematic, given that foreign investors are prevented from participating in the Bahamian capital markets, leaving them with limited liquidity. However, trading volumes and values were ahead of 2015 figures. “Trading volume for the 12- month period January 1, 2016, to December 31, 2016, was 5,552,593 shares for a value of $40.07 million,” BISX said. “Trading volume for the 12-month period January 1, 2015, to December 31, 2015, was 3,223,433 shares for a value of $21.893 million.” Breaking this down to a daily figure, BISX added: “For the 12-month period ending December 31, 2016, the average daily trading See pg b5
Millennials enjoy NHI presentation The Bahamas Millennial Society (BMS) this week participated in a National Health Insurance (NHI) symposium hosted by the KPMG accounting firm, one of the project’s consultants. The Society (BMS), a networking and mentoring organisation for millennials employed in the financial services sector, heard from Mark Britnell, KPMG’s global healthcare partner, plus Dr Victoria Kelly of the NHI Secretariat. Mr Britnell addressed attendees on NHI’s the potential benefits,placing with more emphasis on Universal Health Care (UHC) and its economic benefits. He said better healthcare led to better wealth, and that in most cases UHC benefits a country’s economy.
Dr Kelly detailed NHI’s objectives, and how it seeks to remove the barriers to accessing quality healthcare for Bahamians. She gave attendees an overview of what to expect from NHI and how the process will impact users. BMS is a voluntary membership-based programme open to millennial (born between 1979-1993) employees of Bahamas Financial Services Board (BFSB) member firms, and students studying full-time or part time in a degree related to financial services, law, technology or real estate, either at the University of the Bahamas or abroad. BMS was established in November 2014, and the three objectives that underpin its creation are exposure, networking and mentorship.
THE TRIBUNE
Thursday, January 19, 2017, PAGE 3
Hotel union eyes ‘bargaining agent’ status at Baha Mar
By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
The Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) yesterday said it was “positioning” itself to become the bargaining agent for Baha Mar’s 5,000-plus workforce. With the resort having kicked-off its recruitment drive this week ahead of a “soft opening” in April, hotel union executives said there was “no way” that employees of a project that size could not be part of the union. “We’re definitely going to have some dialogue with them in the days to come to talk about what is the best fit,” said BHCAWU secretary-general, Darron Woods. “We definitely can’t see an investment of that size coming into the Bahamas, rivalling Atlantis, and its employees not
being a part of the union.” Mr Woods added: “We definitely are putting ourselves in position to be the bargaining agent for those persons. We definitely will be watching and seeing what’s going on, and keeping our ears to the ground and looking into any avenue to ensure that we are the bargaining agent. “We will ensure that the Government assists in that process in whichever way they can. Based on what has happened in the past, we definitely have to keep a close eye on it. We may have to rent a building next door.” It is unclear whether that refers to the tense relationship between the union and Baha Mar’s sole operating resort, the Melia, following a dispute over gratuities that was decided in the hotel’s favour. The resort has since prevented union executives from coming on to the property, and is not
deducting union dues from members’ salaries, on the ground that no recognised industrial agreement exists between the industry and BHCAWU. Baha Mar kicked-off its recruitment drive on Monday as it seeks to fill some 1,500 positions ahead of its ‘soft opening’, scheduled for April 21. Robert Sands, Baha Mar’s senior vice-president of government and external affairs, has described the response to the recruitment drive as “overwhelming”. Baha Mar is looking to initially fill positions at the golf course, the casino and casino hotel, and convention centre. As many as 5,000 jobs are expected to be created once the resort is fully opened. The new owner, Chow Tai Fook Enterprises (CTFE), has said it is dedicated to the success and timely opening of Baha Mar, and is “very optimistic” that theopening date will be hit.
Maritime Authority generates $82.6m for Public Treasury By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
The Bahamas Maritime Authority (BMA) has contributed $82 million to the Public Treasury since its inception, a Cabinet Minister said yesterday, adding that its income increased by 6.26 per cent to just over $17 million in the 2015-2016 fiscal year. Glenys Hanna Martin, the transport and aviation minister, said that at June 2016 there were 1,598 Bahamian-registered ships, totalling 63.6 million gross tonnes, on this nation’s registry. She added that the BMA is eyeing offices in Tokyo as part of its expansion plans, and has already identified
Glenys Hanna-Martin premises in Miami. “We now have offices in London, Nassau, Hong Kong, Greece, New York, and they are now getting ready to look at Tokyo and we have identified premises
in Miami,” said Mrs Hanna Martin. She said the BMA’s income increased by 6.26 per cent in its latest financial year to $17.4 million, compared to just over $16 million in 2015. “The BMA’s contribution to the Consolidated Fund for the financial year was $4.24 million,” Mrs Hanna Martin added. “Additionally, the BMA has assisted the Port Department with developing a suite of legislation. “The Bahamas Maritime Authority commenced in 1995, and at the time there was an investment of $1 million. To-date the Bahamas Maritime Authority has remitted $82.6 million to the Bahamas government.”
Union awaits One & Ocean Club meeting By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) executives yesterday said they are still seeking a meeting with management at the One & Only Ocean Club to ascertain the status of the 61 persons terminated back in December. Darron Woods, the union’s secretary-general, told
Tribune Business that its industrial agreement does not allow for summary dismissal or for persons to be terminated without just cause. Union executives claimed they were “blindsided by the terminations, alleging that they contradicted a previous promise made by the hotel that no terminations would take place during and/or after the closure for repairs and renovations post-Hurricane Matthew.
Baha Mar development site
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The luxury hotel, which is expected to re-open on February 14, effectively implied that the guest experience and service levels had not been ‘up to par’ for the property, resulting in the terminations. “The hotel is supposed to be opening up again next month. The employees are supposed to be going back later on in the week,” Mr Woods said. “I know that the See pg b6
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Bahamas can ‘leapfrog’ rivals on health reforms From pg B1 very wise about.” Dr Price, who chairs the Department of Family Medicine at Canada’s McMaster University, also serves as a key adviser to the Ontario government on primary care, and helps negotiates its service agreements with physicians. In an exclusive interview with Tribune Business, he and other NHI advisers emphasised that it was “a fundamental mandate” for any government that it ensure its citizens had access to good quality healthcare. “It’s what the United Nations is saying, it’s what the World Health Organisation (WHO) is saying,” Dr Price added. “How you do that is in a
Bahamian context, rather than a Canadian context. It’s really refreshing to see them expend so much effort to understand the Bahamian context, and make it [NHI] fit it, rather than the other way around, which is what I see so often.” He explained that by combining evidence and “best practices” from other jurisdictions that have already implemented universal health coverage (UHC) system, the Bahamas had a chance to avoid many of their mistakes. Dr Price was backed by Adrian Hamilton, a Bahamas-based management consulting director for KPMG, who told Tribune Business: “We’re in a privileged position here as
NHI ‘can’t wait’ for public health system reforms From pg B1 “We have to address the
public facilities; that’s clear. “But we always say we can’t wait for everything
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THE TRIBUNE
we can leapfrog some of the challenges other health systems have had, and trying to do it in a Bahamian context.” The Government’s NHI advisers were speaking amid continuing healthcare industry concerns and uncertainties surrounding the proposed scheme, including the implementation timeline and the numerous components and details that have yet to be finalised. No specific dates for the introduction of NHI’s $100 million primary care phase, and the steps leading up to this, were provided yesterday when the issue was raised by Tribune Business. Mr Hamilton said the registration process for physicians who will provide services under NHI will begin within the next few weeks, running parallel to the enrolment of Bahamians through the National Insurance Board (NIB)
‘smart card’ process. Simon Townend, the Bahamas-based head of KPMG’s Caribbean advisory practice, added: “There’s a relatively short-term plan in place with dates for the roll-out. We are working to a relatively short-term plan. “In terms of NHI and the roll-out, it’s almost as if the car has been built. It’s just a matter of turning the key. “This is not something that is unique to the Bahamas. The actual concept of universal health coverage has been bought into by the whole world.” Many Bahamians, both inside and outside the healthcare industry, fear the design and implementation of NHI is being rushed, given that it is likely to be a major part of the Government’s re-election bid within the next four-five months. And while many in the Bahamian healthcare in-
dustry, including the Medical Association of the Bahamas (MAB) and the private insurance industry, have backed the concept of UHC in the Bahamas, they are opposed to the ‘how’ and the Government’s chosen method of implementation- NHI. Mr Townend, though, argued that healthcare reform was essential for the Bahamas’ national well-being, pointing to the fact that 200,000 Bahamians - more than half the population have no private insurance coverage, providing reason enough by itself to justify the Government’s move. The ‘NHI Road Map Overview’ report, obtained by Tribune Business, estimated that some 100,000 Bahamians “have no financial protection at the point of illness”. It added: “Approximately 20,000 Bahamians each year have more than 25 per
cent of their household income spent on healthcare. This is roughly five times higher than in the UK, and higher than even the US. “Analysing private health insurance policies reveals that for an average Bahamian, earning roughly $25,000 a year, they would have to spend more than 10 per cent of their annual income to purchase a health insurance policy to cover their family against financial risk due to illness.” The NHI report described private health insurance policies in the Bahamas as “amongst the most expensive in the world”, while excluding many preexisting conditions. It also argued that many Bahamians were unable to use their private insurance policies because they could not afford the deductibles and co-payments.
to be in place to start this process. There’s a quality of life and anticipation of people for the interventions they need.” Dr Price, a primary care specialist, told Tribune Business he had been “really impressed” with the quality of care he had witnessed at the South Beach clinic, despite “the overwhelming demand and resources they have”. He added: “I was quite impressed in the ability of the folks there to provide care in those circumstances; that needs to be acknowledged.” Dr Bowe argued that NHI provided the ideal opportunity to bridge “the divide” that existed between the public and private healthcare sectors, adding that “this is time for the left hand and right had” to work together. “Is this doing something of value to our people? It is,” he added of NHI. The Government’s NHI consultants yesterday made clear that the ‘buy in’ of private physicians, and their signing-up to provide services under the scheme, is critical to the $100 million primary care phase’s launch. Without their participation it is unlikely to happen, as the private doctors
are needed to take patients currently seen by the Government clinics and improve access to care, thus taking the burden off the public system and providing breathing space for its weaknesses to be addressed. Private physician sources, speaking previously to Tribune Business on condition of anonymity, said no one was willing to sign on to provide services under the current NHI design. They suggested that the only participants would be junior doctors in the public system, plus private practitioners who needed the extra patient volume. The Government’s advisers, while not providing any figures for how many doctors were required to launch the primary care phase, said they were working to build “critical mass” to meet the anticipated patient demand. And they denied that few private doctors were willing to sign up as NHI service providers, saying ‘exit surveys’ at consultation meetings showed that a majority of attendees “were willing” to participate. Adrian Hamilton, a management consulting director with KPMG (Bahamas), told Tribune Business: “There’s a majority
that said yes. I think there’s a silent majority that’s very keen and anxious to sign.” With the enrolment of physician providers set to begin with the next several weeks, Dr Bowe added: “We’ve had people say: ‘Show me the dotted line and I’ll sign now.’ We’ve had to say: ‘Not yet’. “People will choose to tell you what they want. We meet with physicians and they know what is being planned. Let’s start small and build up.” The NHI primary care benefits package is “very, very, very close” to being finalised, Tribune Business was also told yesterday, with feedback from the healthcare industry having helped to “shape” its content. Many, though, are likely to be dismayed - but not surprised - at its decision to forge ahead with NHI implementation and fix the public system’s weaknesses ‘as we go along’. A 2014 report by the National Health Systems Strengthening Committee, which has never been widely-circulated or published, lists numerous issues that “must be addressed” prior to implementing universal health coverage (UHC) in the Bahamas. It warned that the Bahamas’ existing healthcare model is one that has been
shown to be “financially unsustainable” because it is focused on treating illnesses and disease, rather than on education and the promotion of healthy living and eating. “The Bahamas, like its global counterparts, continues to grapple with health system performance,” the report admitted bluntly. “Many of our existing challenges relate to deficits in the governance of system, services delivery and resource allocation (human and otherwise) that must be addressed to implement UHC in the Bahamas.” Critiquing the existing Bahamian healthcare system, it added: “The current health care organisational model is characterised as being centralised, predominantly curative and diseasecentred. “However, the medical literature suggests that such systems are inefficient, offer relatively small gains, are spread unevenly across the population, and are financially unsustainable. In countries where the health system is orientated towards health promotion rather than a disease-based approach, governments have been more successful in creating health-promoting environments.”
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THE TRIBUNE
Thursday, January 19, 2017, PAGE 5
American Airlines to sell restricted ‘basic economy’ ticket DALLAS (AP) — The evolution of a caste system in the economy cabin of jetliners is deepening, with passengers divided and treated differently based on how much they are willing to pay the airline. American Airlines announced Wednesday that passengers will be able to buy “basic economy” tickets starting next month that will be similar to barebones fares already offered by Delta Air Lines and soon to be matched by United Airlines. If you want to get the cheapest fare on American or United, you will have to leave that rolling carry-on bag at home. Passengers who pay basic-economy rates on those carriers will be limited to one item that fits under their seat — no wheeled bags that take up space in the overhead bins. American didn’t describe prices for its version of basic economy, which will begin at 10 U.S. airports and later be expanded nationwide and to close international destinations such as the Caribbean. On randomly chosen flights next month on Delta, the basic-economy price ranged from $7 to $25 cheaper than a regular economy ticket. Rick
Seaney, CEO of FareCompare.com, said savings can be even higher because Delta tends to try to match prices for Spirit Airlines and Frontier Airlines. But, he said, Delta limits the number of basic-economy seats much the same way that it limits seats available for customers paying with frequent-flier miles. The idea behind the stripped-down ticket is to better compete with discount airlines for travelers on a tight budget. Spirit and Frontier go after those customers with cheap fares, then tack on fees for extras including use of the overhead bins. Delta offers basic economy on about 40 percent of its U.S. routes and plans to cover them all by year-end and expand it to international flights. United officials said Wednesday that they will begin selling a similar ticket by the end of March at one airport, Minneapolis, for travel starting in late spring or early summer, then expand to the rest of the U.S. United President Scott Kirby said basic economy could bring in $250 million in revenue this year. If you buy a basic-economy fare on American, you can expect this:
— No seat assignment when a ticket is purchased. — No upgrades or changes allowed. — You will be in the last group to board the plane unless you’re already a high-level member of American’s loyalty program or hold an Americanbranded credit card. — Just a single carry-on item that fits under the seat. Basic-economy customers who bring a big rolling bag to the gate for an American or United flight will get hit with a $25 checked-bag fee and a separate $25 handling charge. The big airlines hope that cut-rate fares will win back some of the passengers they are now losing to fast-growing discount carriers. They also aim to try to convince customers to buy more expensive tickets with more flexibility and amenities. Delta says that about half the customers who intend to buy basic economy decide, when presented with options, to trade up. Basic economy is also part of a strategy to boost revenue by slicing and dicing the cabin into several types of seats, a trend called
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segmentation. On some international flights, Delta sells “premium economy” seats that have more room and a special menu. They cost more than regular economy but much less than businessclass. American plans a similar offering this year. Delta’s president, Glen Hauenstein, said recently that such segmentation is in the early stages now but will “deliver significant shareholder value over the next three to five years.”
BISX All-Share index growth slowed in 2016 From pg B2 volume was 22,240 shares, which resulted in an average daily trading value of $160,910. “By comparison, for the 12-month period December 31, 2015, the average daily trading volume was 13,706 shares for an average value of $72,563.” Doctors Hospital Health Systems (DHHS) was the most widely traded stock in 2016 based on volume, its 1,658,963 shares accounting for almost 30 per cent of the total. Commonwealth Bank came in second with
846,222 shares traded, accounting for 15.23 per cent of total volume, and Cable Bahamas finished third. The BISX-listed communications provider led all-comers, though, when it came to the collective value of shares traded across the exchange. Some $5.068 million worth of Cable Bahamas shares were traded in 2016, accounting for 12.32 per cent of the total. It narrowly beat out Commonwealth Bank, which saw $5.02 million worth of its shares traded, accounting for 12.2 per cent of the total.
PAGE 6, Thursday, January 19, 2017
Doctors to drop NHI pay moan ‘within three years’ From pg B1 became familiar with the system and its benefits. Suggesting that the Bahamas would likely “parallel” the experience of Canada’s Ontario province, he told Tribune Business: “I would predict that within three years almost nobody will be left on fees-for-services. “Physicians will migrate to the capitation model.
They will be more satisfied in their own work, will be seeing better outcomes from patients, and patients will like the model, too. It’s kind of that virtuous cycle.” Simon Townend, the KPMG (Bahamas) partner and head of the firm’s Caribbean advisory practice, added of capitation: “It’s good for the Government, good for the provider and
good for the patient.” To which Dr Price added: “It’s good for the system. It’s that quadruple effect. Because doctors work more collaboratively, you have better outcomes.” Capitation rates will also be risk-adjusted according to a patient’s age, gender and where they live (Family Islands versus Nassau), so that doctor compensation is linked to the health of their patient population. “The hope is that they’ll see the benefits become more apparent and choose
to quickly migrate to a capitation model,” Adrian Hamilton, a management consultant director with KPMG Advisory, told Tribune Business. Whether private Bahamian physicians agree remains to be seen, given the opposition to capitation as a payment mechanism. However, Dr Price said the system was being designed to guard against doctors suffering losses through receiving insufficient capitation compensation via the NHI scheme.
“In the Bahamas, the number of visits is 0.7 visits per patient per year,” Dr Price told Tribune Business. “In Ontario, it’s two visits per patient, per year. “The modelling here [for NHI] is at two visits per year; slightly more than that. You’re looking overall at 2.2-2.3 visits per year, which is higher utilisation than in most jurisdictions. To me, there’s a pretty good cushion in this model that has been developed.” Many doctors, though, believe that the 2.2-2.3 visits per year estimate is too low, given the high level of non-communicable diseases (NCDs) in the Bahamas and the health problems prevalent among large sections of the population. When NHI is implemented, they fear Bahamians will swamp the healthcare system in the belief that they can now take advantage of free healthcare, dramatically increasing the number of annual patient visits. Dr Price, though, said Canada’s switch to a capitation model 20 years ago helped to solve problems associated with the lack of medical services in remote
THE TRIBUNE areas. Suggesting there were parallels with the Bahamian Family Islands, he added: “By putting in a capitation model that was structured for age, gender and geography, physicians and allied professionals were willing to go to remote areas, as they had guaranteed income and were able to invest.” An ‘NHI Road Map’ report obtained by Tribune Business sets out the Bahamas’ health problems in graphic detail, noting that Bahamians “live five years less on average” than many other countries. Avoidable mortality accounts for 700 deaths every year, and the report added: “According to WHO, the Bahamas has the highest percentage of NCD deaths for males under the age of 70 (60.3 per cent of all male NCD deaths), and a very high rate for females (47.5 per cent of all female NCD deaths, fifth of the 35 countries.” The Bahamas was also branded the world’s “sixth most overweight country”, with the “highest prevalence of diabetes” on the planet.
Govt to address Business Licence ‘double tax’ woe From pg B1
REQUEST FOR QUOTATIONS Institution: The American Development Bank Country: The Commonwealth of the Bahamas Project Trade Sector Programme Sector: International Trade Abstract: Procurement of IPR Computer Equipment and Stationary Supplies Loan No.: 2756/OC-BH Contract/Bid No. :3.2.4.3A/B Deadline January 27th January 2017 at 4:00pm (Nassau, Bahamas Time) The Ministry of Finance of The Commonwealth of The Bahamas has received USD$16.5 million in funding from the Inter-American Development Bank (IADB) (Loan BH-L1016, Project No. 2756/ OC-BH), to implement a Trade Sector Support Program. The overall objectives of this program are to improve the operational efficiency of the Customs and Excise Department (CED) and to prepare the Government of The Bahamas for accession to the World Trade Organization (WTO). The Registrar’s General’s Department of the Attorney General’s Office is seeking to procure Computer Equipment (3.2.4.3A) and Stationary Supplies (3.2.4.3B) to enhance its IPR operations. The selection process for vendors is guided by section “III .Other Methods of Procurement, paragraph 3.5 (Shopping) ” set out in the Inter-American Development Bank: Policies for the Procurement of Goods and Works financed by the Inter-American Development Bank (GN-2349-9) and is open to all eligible vendors as defined in the policies. Interested vendors may obtain further information by emailing: customsproject@bahamas.gov.bs or janicadeveaux@bahamas.gov.bs . Bids can be submitted electronically at the address indicated below by January 27th, 2017 at 4:00pm (Nassau, Bahamas Time); Chairman Tenders Board REF: Procurement of IPR Equipment and Supplies Ministry of Finance, West Bay Street, P.O. Box N3017 Nassau, Bahamas Email: tendersboard@bahamas.gov.bs Email: keresahall@bahamas.gov.bs Email: tonyaferguson@bahamas.gov.bs Email: customsproject@bahamas.gov.bs
threatened to further depress activity in a stillstruggling industry that plays a key role in the fight to increase employment. Mr Myers explained that the main project contractor was being required to pay Business Licence fees based on the “aggregate”, or total value, of the development rather than just its portion of the work. With sub-contractors also paying Business Licence fees on their respective portions of the project work, he said the end result was that consumers (developers, businesses and homeowners) were effectively being taxed twice on the same work. “From the construction standpoint, we’re wildly concerned that with this new Business Licence fee policy consumers are being double taxed,” Mr Myers told Tribune Business. “I don’t think it’s truly understood yet. People are going back and forth on it. We’ve asked the Bahamas Institute of Chartered Accountants (BICA), the Bahamian Contractors Association (BCA) and the Chamber to weigh in on it. It’s an ongoing discussion that we need to get to the bottom of. “My concern is that every time you increase the cost of construction, you deter people from building in the Bahamas. They’ll have a tendency to look elsewhere, the construction cost is already high, and we’ll become less competitive as a nation. “I think it’s wrong. It
cannot be the intent of the Government to ‘double tax’ the industry on both project contractors and subcontractors. Construction costs are already high, and construction starts are at an all-time low. For God’s sake, why try and do that?” Mr Sumner yesterday told Tribune Business that the construction industry’s Business Licence ‘double taxation’ was “one of those situations that has slipped through” and been allowed to continue. “We got assurances from the authorities that they will be looking at that more closely now, and where anomalies like sub-contractors paying Business Licence fees on monies the general contractor is paying on exist, and serve as double taxation, we believe our discussions with the Ministry of Finance have highlighted some concerns with the system,” the Chamber chief said. “We believe that’s being addressed, and before [Business Licence] filings are done by the end of the month, there will be some statement coming out to address that issue.” Mr Sumner also revealed to Tribune Business private sector concerns that the Value-Added Tax (VAT) online filing and payment process was “more efficient” than the Business Licence fee counterpart. “We’ve raised it with the Ministry of Finance to ensure there remains a level of consistency with what’s required on the Business Licence side and the VAT side,” he added.
Union awaits One & Ocean Club meeting From pg B3 president had spoken to the HR (human resources) person who indicated that they are supposed to be having orientation and training, and they are supposed to be ascertaining when so we could be a part of that. We haven’t gotten a meeting with them as yet.” Mr Woods added: “The thing is we need to know definitely the status of those persons who would have been disengaged, and under what provision of the industrial agreement would that have been done under. “Our industrial agreement does not allow for
summary dismissal, nor does it allow for persons to be terminated for no particular reason; it must be for a just cause and that is listed in the agreement.” Shane Gibson, minister of labour and national insurance, last month blamed the BHCAWU for the terminations, saying the union had allowed the workers’ industrial agreement to expire, leaving the door open for them to be fired. The resort and the union have been awaiting a Supreme Court verdict dealing with several issues, plus the injunction that bars union executives from coming on resort property.
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THE TRIBUNE
Thursday, January 19, 2017, PAGE 7
Freeport ‘depopulation’ fear over resort closures From pg B1 This sparked fears that its parent, the Sunwing Travel Group, was preparing to pull out of Grand Bahama. But the company and its Blue Diamond Resorts subsidiary, which manages Memories, yesterday reaffirmed their commitment to the island, saying they were seeking a “swift resolution” to reopen the 500-room property. In a statement sent to Tribune Business, in response to inquiries over Memories’ future on Grand Bahama, it said: “The Sunwing Travel Group remains committed to operating in Grand Bahama, and continues to support the destination through our airlift
and tour operator support. “We are in discussions with the parties involved, including Government, to find a swift resolution to reopen Memories Grand Bahama so that Sunwing can return to its previous level of support, which had such a profound and positive impact on the island’s tourism revenue and employment in recent years”. The all-inclusive Memories resort, which is adjacent to the Grand Lucayan Convention Centre, opened in February 2014. The resort is a part of the Blue Diamond Hotels & Resorts chain, the Sunwing hotel management company that operates throughout the Caribbean and Mexico.
Grand Lucayan
Mr Turnquest, though, yesterday expressed concern that Grand Bahama could suffer a repeat of the “depopulation” it experienced with the Royal Oasis closure in 2004 if Memories and much of the Grand Lucayan remained closed. With 1,500 rooms taken out of the island’s hotel inventory, and no indication of when they might come back online, Mr Turnquest said he knew of several housekeepers in his constituency who were now applying for jobs at Baha Mar. “I think we’re already seeing the population shift out of Freeport to either Nassau or Bimini, who are also recruiting,” he told Tribune Business. “We’re seeing basically the collapse of the tourism sector in Grand Bahama as a result of all of this. Thank God the cruise ships are continuing to call, or we
would be really dead.” Mr Turnquest said any Sunwing pull-out or reduction in services would negatively impact airlift and tourist arrivals to Grand Bahama - something the company’s statement yesterday refuted. “Yes, we are worried about depopulation,” he told Tribune Business, “which will put more pressure on the economies of scale and the business community as a whole. Meanwhile, we hear nothing from the Government.” Obie Ferguson, the Trades Union Congress (TUC) president, yesterday told this newspaper that all Grand Lucayan workers not currently engaged at the hotel had been allowed to
claim their 13-week unemployment benefit from the National Insurance Board (NIB). “About 25-30 per cent of the line workers made application for their 13 weeks,” he revealed. “From the management group, between 15-20 per cent applied for their 13 weeks.” Although these workers have not been terminated, they are not currently required on-property by the Grand Lucayan, which only has 200 rooms open. The short-term outlook for Grand Bahama’s tourism industry has been viewed as bleak, with much riding on how quickly Memories and the Grand Lucayan fully re-open in the wake of Hurricane Mat-
thew. Tourism Minister, Obie Wilchcombe, told Tribune Business earlier this week that the immediate fate of Freeport’s major hotels is still “waiting on Hutchison Whampoa” to provide confirmed repair and reopening dates. Mr Wilchcombe said that the Government was “continuing to talk” to the Grand Lucayan owner and Sunwing about their plans for the properties in order to bring the 1,500 rooms back online as rapidly as possible. He indicated that Hutchison Whampoa’s repair schedule depended on the fate of its Hurricane Matthew-related insurance claim.
PAGE 10, Thursday, January 19, 2017
EU, UK take contrasting messages from May’s Brexit speech LONDON (AP) — European Union leaders on Wednesday punctured U.K. optimism about a smooth and mutually beneficial divorce between Britain and the EU, declaring that, no matter what British Prime Theresa May thinks, Britain can’t dictate the terms of the separation. EU President Donald Tusk warned Britain that it will not be able to “pick and choose” the choicest bits of trade and immigration as both sides wade into the negotiations this spring. He said May’s Brexit speech on Tuesday, in which she outlined her plans for moving ahead with the divorce, was proof the EU’s united stance was working. May acknowledged she would not be able to break the EU’s sacrosanct link between free movement of people and of goods, saying Britain would leave the
bloc’s single market in order to regain control over immigration. Tusk said the concession “proves that the unified position of 27 member states on the indivisibility of the single market was finally understood and accepted by London” even before the negotiations start. Such statements poured cold water on buoyant British praise for May’s vision of flexible and swift negotiations to reach a “bold and ambitious free trade agreement with the EU.” Prime Minister Joseph Muscat of Malta, which holds the rotating EU presidency, insisted such a trade deal could only be negotiated after Britain leaves, which is expected in 2019. EU Affairs Minister Ann Linde said May had made it “very clear that she wants a very hard Brexit” and anticipated difficult negotiations
ahead. And when British Foreign Secretary Boris Johnson heard about a reported comment from an aide to French President Francois Hollande that Britain should not expect a better trading relationship once it is out of the bloc, he reached for a favorite analogy, World War II. “If Mr. Hollande wants to administer punishment beatings to anybody who chooses to escape, rather in the manner of some World War II movie, then I don’t think that that is the way forward,” Johnson said. The comments raised hackles elsewhere. Guy Verhofstadt, the European Parliament’s lead negotiator on Brexit, tweeted that Johnson’s words were “abhorrent and deeply unhelpful” and urged May to condemn them. May’s spokeswoman,
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division
2015 CLE/gen/01367
IN THE MATTER of an Indenture of Mortgage made the 4th day of October, A.D., 2006 between Desmond Antoine Knowles and Finance Corporation of Bahamas Limited. AND IN THE MATTER of the Mortgages Act, Chapter 156 of the Revised Laws of the Commonwealth of The Bahamas. BETWEEN
FINANCE CORPORATION BAHAMAS LIMITED AND DESMOND ANTOINE KNOWLES
To: Desmond Antoine Knowles TAKE NOTICE that:
Plaintiff Defendant
1.
An Order and a Judgment have been filed against you on the 28th day of December, A.D. 2016 (the “Order” and the “Judgment” respectively), in the Supreme Court of The Bahamas in Action No. 2015/CLE/gen/01367 by Finance Corporation of Bahamas Limited, the Plaintiff herein. 2. By the Order, the court ordered that you do by no later than the 2nd day of January, A.D. 2017 deliver up to the Plaintiff vacant possession of ALL THAT piece parcel or lot of land being a portion of the Partition of a lot of land designated “A”, “B”, “C” and “D” situate about 400 feet WESTWARDLY of Nassau Street and Southward of Quarry Mission Road in the Western District of the Island of New Providence which said piece parcel or lot of land is bounded NORTHWARDLY by the said Quarry Mission Road and running thereon Forty-six and Eight hundredths (46.08) feet EASTWARDLY by a Twelve (12) feet wide Right-of-way on the Partitioned lot and running thereon Seventy-nine and Fourteen hundredths (79.14) feet SOUTHWARDLY by other portion of the said Partitioned lot designated “D” and running thereon Forty-two (42) feet and WESTWARDLY by land formerly the property of Bertram Wallace now said to be the property of James Wallace and running thereon Seventy-seven and Sixty-nine Hundredths (77.69) feet which said piece parcel of land has such position shape marks boundaries and dimensions as are shown on the diagram or plan annexed to a Certificate of Title granted to William H. Dean under the authority of the Quieting Titles Act 1959 dated the 30th day of March A.D., 1989 obtained in Equity Action No. 30 of 1988 and recorded in the Registry of Records of the City of Nassau in Volume 5343 at pages 279 to 282 and thereon coloured PINK and marked “A” AND THAT the Plaintiff be at liberty to enter judgment against you for the amount claimed in the Originating Summons together with interest and costs, such costs to be taxed if not agreed. 3. By the Judgment, it was adjudged that you pay to the Plaintiff the sum of $83,640.91 together with interest at the contractual rate up to the date of judgment and thereafter interest at the rate of 6.75% per annum until payment and costs to be taxed if not agreed. 4. The publication of this Notice constitutes service of the said Order and Judgment, copies of which may be obtained from the Supreme Court Registry, Ground Floor, BAF Financial Centre, Marlborough Street, Nassau, The Bahamas during normal business hours.
Dated the 19th day of January, A.D., 2017 HIGGS & JOHNSON Chambers Ocean Centre Montague Foreshore, East Bay Street Nassau, New Providence, The Bahamas Attorneys for the Plaintiff
THE TRIBUNE
Newly elected president of the European Parliament, Antonio Tajani, left, hugs European Commission President Jean-Claude Juncker during a joint press conference at the European Parliament in Strasbourg, eastern France, yesterday. Tajani was elected president of the European Parliament on Tuesday. (AP Photo) Helen Bower, defended Johnson, saying “he was making a point. He was in no way suggesting that anyone was a Nazi.” Aiming to calm tempers, EU Commission President Jean-Claude Juncker noted the EU was “not in a hostile mood” but added it will be tough to negotiate with a longtime EU member that now “will be seen as a third country.” Uncertainty surround-
ed other aspects of May’s Brexit speech — including her promise of a vote for Britain’s Parliament on the deal struck with the EU. May and Brexit Secretary David Davis both declined to answer outright when asked what would happen if lawmakers rejected it. “They won’t vote it down,” Davis told the BBC. “This negotiation will succeed.” It remains unclear,
though, whether May can formally begin the process of leaving the EU without Parliament’s approval. Britain’s Supreme Court says it will give its highly anticipated judgment in a legal battle over Brexit on Jan 24. Britain’s mostly Euroskeptic newspapers, meanwhile, seized on May’s suggestion Britain could hurt the EU economically if the bloc imposed a punitive deal.
THE TRIBUNE
Thursday, January 19, 2017, PAGE 11
US stock indexes stay stuck; bond yields and dollar rise
NEW YORK (AP) — The stock market hasn’t been this boring in years. The Standard & Poor’s 500 remained at a near standstill Wednesday, the ninth day in a row that it has moved by less than 0.4 percent, up or down. That’s its longest streak of listlessness since the summer of 2013. Other indexes were mixed. The S&P 500 rose 4 points, or 0.2 percent, to 2,271.89. The Dow Jones industrial average slipped 22.05 points, or 0.1 percent, to 19,804.72. The Nasdaq composite index added 16.93, or 0.3 percent, to 5,555.65. Slightly more stocks rose on the New York Stock Exchange than fell. Stocks have been in a wait-and-see period in recent weeks following their torrid run since Election Day. The S&P 500 is up 6.2 percent since Donald Trump’s surprise victory of the White House, driven higher by expectations for lower corporate taxes and less regulation. Trump will take the oath of office on Friday, and investors are waiting to see how much of his campaign-trail rhetoric will become government policy. “It’s natural after such a remarkable run postelection to have a bit of a flat, quiet period as investors
a sign for Wall Street outside the New York Stock Exchange. U.S. stock indexes were mixed in a listless morning of trading yesterday, while bond yields and the dollar resumed their climbs. (AP Photo) wait for some more tangibles,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management. “We know directionally where Donald Trump wants to go, and with a Republican Congress he’s got a higher probability of success than otherwise, but we don’t have the details.” One notable area of weakness in the stock market was retail. This past holiday shopping season was weaker than many traditional retailers were expecting, and Target became the latest to cut its forecast for fourthquarter sales and profits as
a result. The discounter said that traffic levels at its stores were disappointing in November and December, and its stock fell $4.09, or 5.8 percent, to $66.85 following its announcement. Target had the secondlargest loss in the S&P 500, while Dollar Tree and other retailers weren’t far behind. The biggest loss in the S&P 500 came from specialty biopharmaceutical company Mallinckrodt, which fell $2.89, or 5.8 percent, to $46.53 after it agreed to pay $100 million to end a government investigation. Antitrust regulators and five
PROFESSIONAL ARCHITECTS BOARD 141A Nassau Street PHONE NO. (242) 326-3114 email: bdmanager@coralwave.com
Professional Architects Examination Schedule 2017 Registration 6th February, 2017 – 17th March, 2017 Examination Briefing 8th April, 2017 Practical Training Log With Sysopsis Due Date: 14th April, 2017 Case Study Due Date: 19th May, 2017 Written Examination 9th June, 2017 Oral Examination 23rd June, 2017
states said Questcor, a company Mallinckrodt bought in 2014, illegally bought the rights to a drug that would have competed with its Acthar gel. The agencies said that deal gave Questcor a monopoly. Questcor raised the price of Acthar from $40 a vial in 2001 to $34,000. On the opposite side of the S&P 500 was Fastenal, which jumped $2.81, or 5.8 percent, to $51.06 for the biggest gain in the index. The seller of nuts, bolts and other equipment reported stronger fourth-quarter earnings growth than analysts expected. Treasury yields rose sharply. The yield on the 10year Treasury note climbed to 2.42 percent from 2.33 percent late Tuesday. It more than made up its loss from the prior day, and continues the steady march higher that bond yields have been on since Election Day. Expectations of higher inflation, along with faster economic growth, have driven the trend. Consumer prices last month were 2.1 percent
higher than the same time a year earlier, according to a Labor Department report released Wednesday. Economists say the inflation rate is still relatively modest, but it’s a clear acceleration from the very low levels of the last four years. The “Beige Book,” a survey of conditions by the Federal Reserve released Wednesday afternoon, showed that the U.S. economy grew a bit faster at the end of last year and that pricing pressures “intensified somewhat” since its last report in November. The Federal Reserve has raised interest rates twice in the last two years, up from their record low of nearly zero. The central bank has said that it plans for a gradual rise in rates. Fed Chair Janet Yellen said in a speech on Wednesday that officials expect to raise rates “a few times a year” through 2019. But a big push higher in inflation could force the Fed’s hand. The dollar rose against many of its rivals, a day after it sank sharply against
the British pound and other currencies. The dollar rose to 113.74 Japanese yen from 112.66 late Tuesday. The British pound fell to $1.2284 from $1.2396, and the euro fell to $1.0664 from $1.0709. In Asian trading, Japan’s Nikkei 225 index rose 0.4 percent, and South Korea’s Kospi index dipped by 0.1 percent. In Europe, Germany’s DAX rose 0.5 percent, and the U.K. FTSE 100 rose 0.4 percent, while France’s CAC 40 fell 0.1 percent. Benchmark U.S. crude oil fell $1.40 to settle at $51.08 a barrel. Brent crude, the international standard, fell $1.55 to close at $53.92. Natural gas fell 11 cents to $3.302 per 1,000 cubic feet, heating oil fell 4 cents to $1.61 a gallon and wholesale gasoline fell 5 cents to $1.55 per gallon. Gold slipped 80 cents to $1,212.10 per ounce, silver rose 13 cents to $17.27 per ounce and copper fell 9 cents to $2.62 a pound.
SaleS Coordinator essential Job Functions: • Assist with the preparation of sales reports that will assist revenue management; groups, corporate and leisure clients. • Prepare all written correspondence and follow up with clients. • Prepare all creative correspondence to Corporate Clients. • Oversee all set up and break down of functions Position requirements: • Three years experience at a major company or hotel in a similar position; • Proficiency in Microsoft Word and Excel spreadsheets; • The ability to assist with Sales Functions
Interested persons should submit their resumes via e-mail to: recruitment.humanresources@outlook.com
PAGE 12, Thursday, January 19, 2017
THE TRIBUNE
Price tries to reassure on health care; Dems not buying it WASHINGTON (AP) — Offering reassurances, President-elect Donald Trump’s pick for health secretary said Wednesday the new administration won’t “pull the rug out” from those covered by “Obamacare.” Democrats were unimpressed, noting a lack of specifics. Rep. Tom Price, R-Ga., also told the Senate Health, Education, Labor and Pensions Committee that Trump is “absolutely not” planning to launch an overhaul of Medicare as he tries to revamp coverage under President Barack Obama’s signature health care law. He acknowledged that high prescription drug costs are a problem, but did not endorse the idea of government directly negotiating prices. Throughout the nearly four-hour hearing, Democrats peppered Price with
questions about his stock trades. The sometimes confusing exchanges involved different transactions under distinct circumstances. Price, who has signed a government ethics agreement to sell his stock, was clearly annoyed by the suggestion that he profited from his official position. “I’m offended by that insinuation,” he told Sen. Elizabeth Warren, DMass. Committee Chairman Lamar Alexander, R-Tenn., lauded Price’s performance, but ranking Democrat Patty Murray of Washington said she remains deeply concerned. No Democrats offered support for the 62-year-old nominee, an orthopedic surgeon-turnedlegislator. Price said he wants to reopen a bipartisan dialogue on health care centered on practical solutions.
Health and Human Services Secretary-designate, Rep. Tom Price, R-Ga., right, talks with Sen. Johnny Isakson, R-Ga. on Capitol Hill in Washington, yesterday, prior to the start of Price’s confirmation hearing before the Senate Health, Education, Labor and Pensions Committee. (AP Photo) “One of my goals in this entire debate is to lower the temperature,” said Price, speaking in even, measured tones. “People need to know that no rug is going
OFFSHORE BANK
Will receive qualified applicants’ resumes for the following position: Securities Back Office Officer
Tasks include: • Confirm purchase and sales orders with brokers • Correspond with Clearing Houses and group employees for timely settlement of trades • Reconciling accounts, Coupon calculations, interest and dividend payments • Opening and maintenance of brokers and customers’ accounts • Execute purchase and sale orders with brokers and counterparts • Correspond with customers of the bank regarding general queries and renewals of Time Deposits
• • • • • •
Spanish - fluent, spoken and written. No need to apply without this requisite. Strong organizational skills At least 5 years of financial experience in Banks or Broker Dealers. Understanding of securities administration Knowledge of Euclid and Clearstream settlements systems (an asset) Proficiency in the use of Microsoft’s Office suite (including Word, Excel, PowerPoint and Outlook) Ability of work under pressure, and keep daily deadlines
Please send all correspondence to: backofficeanalyst2017@gmail.com
to be pulled out from under them.” Alexander said he took that to mean that the Trump administration will be careful, and not attempt to repeal the 2010 health care law without a replacement ready to go. The Affordable Care Act is providing coverage to about 20 million people, and government as well as private experts say repealing without a concrete substitute would make millions uninsured and spike premiums. But Sen. Tim Kaine, D-Va., Hillary Clinton’s running mate, said, “I don’t
think ‘lowering the temperature’ is consistent with rushing” to repeal and replace. Trump has promised to unveil his plan when Price is confirmed. With coverage for millions at stake, Price faced pointed questions about Trump’s evolving stance on health care. Trump campaigned on repealing Obama’s law, but at times he’s sounded more like a liberal. For example, he made recent comments about providing insurance for everyone and taking on the drug companies. In an interview aired Wednesday on Fox News Channel, Trump said his approach would offer coverage through private insurers for people who cannot afford it. “Nobody is going to be dying on the streets with a President Trump,” he said. He said his plan would “probably” turn Medicaid over to the states in the form of block grants to cover low-income people. Democrats reminded Price that approach could lock in big cuts. Price represents Atlanta’s northern suburbs and until recently led the House Budget Committee. A budget hawk and a social conservative, he drafted his own plan to replace Obama’s health law. It would have saved taxpayers money but
covered fewer people, according to an outside analysis. Sen. Bernie Sanders, I-Vt., pressed Price on whether Trump intends to keep promises repeatedly made during the presidential campaign not to cut Social Security, Medicare and Medicaid. “I have no reason to believe he’s changed his position,” Price said. He expressed support for some provisions of the Obama health law, including allowing young adults to remain on parental coverage, protecting people with preexisting medical conditions, and closing the Medicare prescription drug coverage gap. Questioned by Sen. Tammy Baldwin, D-Wis., Price acknowledged there are “certain areas where drug price increases seem to have little basis in rational actions.” But pressed on whether he would support Trump’s call for Medicare to negotiate with drug companies, Price tried to sidestep. If confirmed, Trump would be his boss, Price said, but he also suggested the idea of negotiations needs further study. He was supportive of requiring drugmakers to provide more public information about how they set prices.
Growing Freight Forwarding Company seeks
Accounts Clerk/Book keeper
The successful candidate will be responsible for: Recording financial transactions Completing daily, monthly and quarterly reports Payroll and National Insurance payments Quarterly VAT filings Bank Transactions and petty cash allocation Other financial transactions as assigned
Applicants must be fully proficient in Quickbooks and have at least 2 years working with the software in a business environment. Interested applicants should forward a copy of their resume to cobrien@aeropost.com
___________________________________________________________________ Busy Freight Forwarding Company seeks
Customs Broker
The successful candidate will be responsible for: Completing entries both manually and electronically using ECAS Knowing and understand The Bahamas Customs’ processes and the procedures related to importation of goods Keeping up to date with any newly released information, including new rates of duty Clearing shipments arriving by both air and ocean Other duties as assigned related to importation and clearing of goods Applicants must have experience as a broker and posses a valid driver’s license. Interested applicants should send an email to cobrien@aeropost.com
COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT
2016/CLE/gen/00704
Common Law & Equity Division IN THE MATTER OF property comprised in an Indenture of Mortgage dated 23rd day of February A.D., 2005 between Keith Antonio Brown of the one part and FirstCaribbean International Bank (Bahamas) Limited of the other part and of record in the Registry of Records in the City of Nassau in the Island of New Providence in Volume 9226 at pages 74 to 84. IN THE MATTER OF property comprised in an Indenture of Mortgage dated 23rd day of February A.D., 2005 between Keith Antonio Brown of the one part and FirstCaribbean International Bank (Bahamas) Limited of the other part and of record in the Registry of Records in the City of Nassau in the Island of New Providence in Volume 9226 at pages 85 to 95. BETWEEN FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITED Plaintiff AND KEITH ANTONIO BROWN Defendant TO:
KEITH ANTONIO BROWN
TAKE NOTICE that: 1. An ORIGINATING SUMMONS AND AFFIDAVIT OF TAMIKA LIGHTBOURNE filed on the 10th day of May A.D. 2016 have been issued against you in the Supreme Court of The Bahamas being Action No. 2016/CLE/gen/00704 by First Caribbean International Bank (Bahamas) Limited, the Plaintiff herein. 2. A NOTICE OF APPOINTMENT TO HEAR ORIGINATING SUMMONS filed on the 21st day of September A.D. 2016 has been issued against you in the Supreme Court of The Bahamas by the Plaintiff herein. 3. The hearing date of the Notice of Appointment to Hear Originating Summons has been set to be heard on Thursday the 9th day of February A.D.2017 at 9:45 o’clock in the fore-noon before the Honorable Justice Cheryl Grant-Thompson whose chambers is located in the Swift Building, East Street North, Nassau, Bahamas. 4. That the Court further Ordered that the existence of further proceedings be deemed to be served on you by way of similar advertisements. 5. You must attend the above-mentioned hearing otherwise an Order may be granted in your absence. Dated 17th day of January A.D. 2017 GRAHAMTHOMPSON Chambers, Sassoon House, Shirley Street & Victoria Avenue, Nassau, Bahamas. Attorneys for the Plaintiff
THE TRIBUNE
Thursday, January 19, 2017, PAGE 13
Yellen: Expect Fed to gradually hike rates over next three years WASHINGTON (AP) — Federal Reserve Chair Janet Yellen says she expects the Fed to raise its benchmark interest rate several times a year through 2019, as it moves closer toward to its economic goals of maximum employment and stable inflation. But in a speech in San Francisco Wednesday, she said she can’t say when the next interest rate will occur or how high rates will rise. She says that will depend on how the economy performs in the coming months. She says Fed officials, who boosted rates for a second time last month, expect to raise rates “a few times a year” until they have pushed the Fed’s benchmark rate close to 3 percent by the end of 2019. The rate now stands in a range of 0.5 percent to 0.75 percent. The 3 percent level for the Fed’s target for the federal funds rate, the inter-
est that banks charge each other, is the point that the Fed currently believes is the so-called neutral rate — the level where the Fed’s interest rate policies are not spurring growth or holding it back. “Right now our foot is still pressing on the gas pedal, though, as I noted, we have eased back a bit,” Yellen said. “Our foot remains on the pedal in part because we want to make sure the economic expansion remains strong enough to withstand an expected shock, given that we don’t have much room to cut interest rates.” Currently, Yellen said inflation is still running below the Fed’s 2 percent objective, by its preferred measure of prices, and that some measures show that even though unemployment is below 5 percent, there could still be room to make further progress on jobs.
NOTICE
NOTICE is hereby given that INAVIE SIMILIEN WARD of #83 Wild Plum, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2017 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
NOTICE
NOTICE is hereby given that AZSHANIQUE TEMICKA WILLIAMS of #40 Poinciana Drive, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 12th day of January, 2017 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, JASON ALFRED FARRINGTON formally of Avacado St. Pinewood Gardens, Nassau, Bahamas and now #13958 SW 279 Lane, Homestead Florida 33032 intend to change my name to JASON ALFRED ROLLE If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE
NOTICE is hereby given that LOLITA CECELIA FORBES of 3A Seagull Close, Sea Horse Village, P.O.Box F60167 Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that Fernand Joseph of Carmichael Road, Faith Avenue South, P.O.Box CR-54743, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2017 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
“For instance, wage growth has only recently begun to pick up and remains fairly low,” Yellen said. She said as the economy gets closer to the Fed’s goals on employment and inflation, it will make sense to “gradually reduce” the level of support the Fed is providing by raising interest rates. “Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road — either too much inflation, financial instability, or both,” Yellen said in her speech to the Commonwealth Club of San Francisco. During her appearance, Yellen made no mention of the incoming Trump administration. Presidentelection Donald Trump was critical of Yellen during the campaign, accusing the Fed of being political and keeping interest rates low to help
Federal Reserve Board Chair Janet Yellen answers questions during a meeting of the Commonwealth Club yesterday, in San Francisco. Yellen talked about the Fed’s goals and the best way to pursue them during her appearance. (AP Photo) Democrats. Yellen has denied this charge. She has said she intends to remain as Fed chair until her term ends in February 2018. Yellen was asked how the Fed safeguards its political independence while at the same time strengthening policy coordination with the executive branch.
NOTICE
One long tradition dating back decades, she said, is the Fed chair’s regular meetings with the administration’s Treasury secretary. “During my time, I have had virtually a weekly breakfast or lunch with Jack Lew,” Yellen said, referring to the current Treasury secretary. She said the meetings are used for exchanging views
NOTICE is hereby given that FRANDY ADRIAN GREEN of #3 Edgers Place, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 19th day of January, 2017 to the Minister responsible for Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, TERICO ONIQUE PENN of Nassau, Bahamas intend to change my name to TERICO ONIQUE DEAN. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
on the economy, but she said she has never felt pressure from the administration to follow a particular course on interest rates. “We share a common interest in the success of the U.S. economy, and the administrations, at least the ones I have experience with, respect the independence of the Fed,” Yellen said.
NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000
Jerry Wayne Ltd.
(In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that in accordance with Section 138 (4) of the International Business Companies Act, 2000, as amended, Jerry Wayne Ltd. is in dissolution. The dissolution of the said Company has commenced on 06 January 2017 when Articles of Dissolution were submitted to and registered by the Registrar General. The Liquidator of the said Company is Pamela A Miller, whose address is Lyford Manor, Western Road, Lyford Cay, P.O. Box CB-13007, Nassau, The Bahamas. Pamela A Miller Liquidator
MARKET REPORT WEDNESDAY, 18 JANUARY 2017
t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com
BISX ALL SHARE INDEX: CLOSE 1,910.12 | CHG 0.02 | %CHG 0.00 | YTD -19.09 | YTD% -0.98 BISX LISTED & TRADED SECURITIES 52WK HI 4.38 17.43 9.09 3.55 4.70 0.12 8.22 8.50 6.10 10.60 15.48 2.72 1.60 5.82 9.75 11.00 9.00 6.90 12.25 11.00
52WK LOW 2.70 17.43 8.19 3.50 1.77 0.12 5.05 8.05 5.50 7.72 11.91 2.18 1.31 5.60 6.70 8.56 6.12 6.35 11.81 10.00
1000.00 1000.00 1000.00 1000.00
900.00 1000.00 1000.00 1000.00
PREFERENCE SHARES
1.00 106.00 100.00 106.00 105.00 105.00 100.00 10.00 1.01
1.00 105.50 100.00 100.00 105.00 100.00 100.00 10.00 1.01
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Famguard Fidelity Bank Finco Focol ICD Utilities J. S. Johnson Premier Real Estate Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00 100.00
52WK LOW 100.00 100.00 100.00
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS FAM FBB FIN FCL ICD JSJ PRE CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB
SECURITY Fidelity Bank Note 17 (Series A) + Fidelity Bank Note 18 (Series E) + Fidelity Bank Note 22 (Series B) +
SYMBOL FBB17 FBB18 FBB22
Bahamas Note 6.95 (2029) BGS: 2014-12-3Y BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y
BAH29 BG0103 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407
BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
113.70 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
MUTUAL FUNDS 52WK HI 2.02 3.91 1.93 169.70 140.34 1.46 1.67 1.56 1.10 6.96 8.50 6.30 9.94 11.21 10.46
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.41 1.61 1.52 1.03 6.41 7.62 5.66 8.65 10.54 9.57
LAST CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.05 8.50 5.83 10.50 11.93 2.05 1.60 5.82 9.75 10.95 8.80 6.75 11.93 10.00 1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.01 LAST SALE 100.00 100.00 100.00 108.17 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
CLOSE 4.38 15.85 9.09 3.52 1.77 0.12 5.05 8.50 5.83 10.50 11.93 2.07 1.60 5.82 9.75 10.95 8.80 6.75 11.93 10.00
CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.11 100.00 100.00 100.00 10.00 1.01
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CLOSE 100.00 100.00 100.00
CHANGE 0.00 0.00 0.00
108.58 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund FG Financial Preferred Income Fund FG Financial Growth Fund FG Financial Diversified Fund FG Financial Global USD Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund
VOLUME
12,000
VOLUME
NAV 2.02 3.91 1.93 169.70 140.34 1.46 1.66 1.56 1.07 6.96 8.50 6.30 9.80 11.13 9.63
EPS$ 0.029 1.002 -0.144 0.170 -0.130 0.000 -0.030 0.607 0.430 0.450 0.110 0.102 0.080 0.300 0.520 0.960 0.820 0.294 0.610 0.000
DIV$ 0.080 1.000 0.000 0.210 0.000 0.000 0.090 0.300 0.220 0.360 0.490 0.060 0.060 0.240 0.400 0.000 0.330 0.140 0.640 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000
P/E 151.0 15.8 N/M 20.7 N/M N/M -168.3 14.0 13.6 23.3 108.5 20.3 20.0 19.4 18.8 11.4 10.7 23.0 19.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.00% 0.00% 0.00% 0.00% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 7.00% 6.50%
INTEREST 7.00% 6.00% Prime + 1.75%
MATURITY 19-Oct-2017 31-May-2018 19-Oct-2022
6.95% 4.00% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%
20-Nov-2029 15-Dec-2017 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022
YTD% 12 MTH% 3.91% 4.21% 3.71% 3.98% 2.43% 2.71% 4.73% 5.64% 5.70% 7.66% 3.56% 3.91% 2.22% 2.79% 2.80% 3.18% 2.99% 2.26% 4.35% 4.69% 4.13% 4.28% 4.22% 4.64% 6.19% 3.43% 2.77% 2.98% -3.66% -3.90%
NAV Date 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Sep-2016 30-Sep-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016 30-Nov-2016
MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings
YIELD 1.83% 6.31% 0.00% 5.97% 0.00% 0.00% 1.78% 3.53% 3.77% 3.43% 4.11% 2.90% 3.75% 4.12% 4.10% 0.00% 3.75% 2.07% 5.36% 0.00%
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225
PAGE 14, Thursday, January 19, 2017
‘Insane!’ EU legislature bristles at Trump’s Brexit comments BRUSSELS (AP) — European Union legislators lashed out at U.S. President-elect Donald Trump on Wednesday for saying the British decision to leave the bloc would turn out great and predicting more countries would follow. “It is insane,” Guy Verhofstadt, the leader of the largest liberal group in the European Parliament, said, decrying what he saw as meddling in European politics and insisting on a much stronger EU reaction “What would happen in the United States when European leaders would say ‘Oh, we think California will break away,’” Ver-
hofstadt asked rhetorically, adding that the EU’s ambassador would immediately be summoned to Washington for chiding. Manfred Weber, the leader of the biggest parliamentary group, the EPP Christian Democrats, said no one should underestimate the EU as an economic juggernaut on the world stage. “I want to stress that the EU is as large as the U.S. in economic terms,” Weber said. Trump indicated in a weekend interview with two European newspapers that he was indifferent to whether the EU stays together or not. His position is a sharp
THE TRIBUNE
German Chancellor Angela Merkel speaks at the chancellery in Berlin, Germany, yesterday.
Presidentelect Donald Trump speaks with reporters in the lobby of Trump Tower in New York.
(AP Photos) break from the Obama administration, which encouraged British citizens to vote to remain in the bloc. “I do think keeping it together is not gonna be as easy as a lot of people think,” Trump said. The British exit from the EU would “end up being a
great thing,” he said. Combined with the stinging criticism Trump offered of German Chancellor Angela Merkel and European NATO allies, Trump’s interview did not go down well in EU capitals. “We must tell all those who are threatening Euro-
peans, especially European businesses, that we, too, can ask tough questions to U.S. companies,” said Weber, a German whose party is closely aligned with Merkel. “If the U.S. is saying ‘U.S. first,’ then we are allowed to say ‘Europe first,’” Weber said.
Both Weber and Verhofstadt, who leads the European Parliament’s ALDE liberal group, said Trump presidency’s should spur the EU into action and force it to display more unity. However, EU President Donald Tusk said it was too soon to get excited.
NOTICE
NOTICE
NOTICE
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Masterton Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Blenheim Investment Holdings Inc. has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Harleysville Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
NOTICE
NOTICE
NOTICE
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Alexandra Investment Holdings Inc. has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Levin Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Aston Investment Holdings Inc. has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
NOTICE
NOTICE
NOTICE
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Landsdale Investment Holdings Inc. has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Wayne Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Cromwell Investment Holdings Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
NOTICE
NOTICE
NOTICE
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Palmerston Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Logan Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Pursuant to the provisions of Section 138 (8) of the International Business Companies Act (as amended), NOTICE is hereby given that Huntsville Ventures Limited has been dissolved and has been struck from the Register with effect from 23rd December, 2016.
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas
Lorna Kemp and Magdaline Carey LIQUIDATORS c/o Clairmont Trust Company Limited Pineapple Grove #5 Lyford Cay P.O. Box SP-64284 Nassau, Bahamas