Banks DIH PACESETTER News 2024

Freshness is Domestic

MISSION STATEMENT

We are committed to building on our traditions of excellence by providing Quality Products and Services, Financial Results and Management Performance that meet the interests of our shareholders, employees, customers, suppliers and the communities in which we operate.

Contents Chairman’s Address at the 68th Annual General Meeting of Banks DIH Limited...............................................................2 The meaning of “Freshness is Domestic”...............................................................................................................................2 Citizens Bank Guyana Inc.......................................................................................................................................................8 Banks Automotive & Services Inc..........................................................................................................................................8 Legal Contract........................................................................................................................................................................8 Dividends...............................................................................................................................................................................9 Growth in Shareholders’ Value..............................................................................................................................................9 Total Quality Management and Environment Safety Functions...........................................................................................9 Community Relations/Partnerships......................................................................................................................................9 Inclusiveness........................................................................................................................................................................10 Future Outlook......................................................................................................................................................................10 Co-Managing Director retires after 51 Years of Sterling Service - Mr George McDonald...................................................11 Leadership Development......................................................................................................................................................12 Twenty – Seven Organizations receive Deeds of Covenant.....................................................................................................13 7ZHOYH (GXFDWLRQDO ,QVWLWXWLRQV EHQH¿W IURP 0RQHWDU\ 'RQDWLRQV Fourty - Four Employees Receive Long Service Award Recognition...................................................................................15 Senior Citizens Luncheon.....................................................................................................................................................17 Administrated Professionals Treated for Admin Professional Week...................................................................................18 BANKS DIH Cops top NQA Award – Customer Focus - Manufacturing............................................................................19 Twenty-Three Departments receives 2023 Chairman’s Award...........................................................................................19

Pacesetter News, Edition 2024

is a production of the Training/Communications Team.

Produced by: Sonya Forrester | Training/Communications Executive Tel: 225-0910 Ext. 2232 Email: sforrester@banksdih.com | www.banksdih.com https://www.linkedin.com/company/banks-dih-limited/ https://www.facebook.com/BanksDIHLtd https://www.banksdih.com/ Sonya Forrester

Freshness is Domestic

Mail us your comments, suggestions and articles. We would be delighted to hear from you.

1

PACESETTER NEWS 2024

Chairman’s Address at the 68th Annual General Meeting of Banks DIH Limited is “Freshness is Domestic”, which is validated by images on the cover of our Banks Beer, GT Beer, and Classic Beer, and supported by images of our Food products and Menu offerings from our Demico Restaurants which truly attest to the fact that “Freshness is Domestic”.

My fellow shareholders, ladies and gentlemen. As we consider the theme “Freshness is Domestic”, a possible question will arise. “Why do people drink Beer?” For many persons, it’s a journey of discovery of a process, a specialised craft, an appreciation IRU D EOHQGLQJ RI ÁDYRXUV DQG WKH XQGHUVWDQGLQJ of different techniques from different parts of the world. For others, it’s about connecting with people, sharing what is termed as a social lubricant for good conversation and time well spent. My fellow

Chairman/Managing Director 0U &OLɣRUG % 5HLV & & +

shareholders, whatever is the reasoning, there is an underlying unifying and universal truth:

“Fresh

Beer is Better Beer”.

My fellow shareholders, permit me to extend a warm and cordial welcome to the 68th Annual General Meeting of Banks DIH Limited and to sincerely thank

In actuality, my fellow shareholders, and depending

you for your unstinting support and encouragement

on your preference when it comes to choosing a

over the period since we last met. Permit me on my

brew to drink, that Beer could well have travelled

own behalf and that of the Board of Directors, the

hundreds of miles under varying storage conditions,

management, and staff, to extend best wishes for a

distances and temperatures, before reaching your

Peaceful, Healthy, and Productive 2024.

favourite Shopping Centre or Bar. It’s quite possible that the Beer which you are about to consume, can have been around six to twelve months since it was brewed. Fresh beer is beer in its optimum state which

The meaning of “Freshness is Domestic” My fellow shareholders, at the time of our meeting,

happens immediately at the end of the brewing cycle.

you would have received your Annual Reports and

It is best consumed at this point and typically holds it

would have observed that the theme for the Report

SHUIHFW ÁDYRXU IRU DERXW WKUHH WR IRXU ZHHNV

2

Freshness is Domestic My fellow shareholders, ladies and gentlemen, the importance of the freshness of beer is often either mistaken, misunderstood or possibly unheard of.

Market research has shown that when the question is asked, “What do you understand to be a fresh beer?” many persons will reply “the place where you buy or drink it” Many studies have explored the effects on breweries which export in an effort to keep up in an increasingly competitive and globalized beer market. :KDW WKH UHVXOWV KDYH VKRZQ LV WKDW WKH ÁDYRXU RI the beer deteriorates leading to the presence of the VWDOH ÁDYRXUV DQG D GHFUHDVH LQ WKH GULQNDELOLW\ RI WKH beer. Another lesser known and appreciated fact is WKDW VLJQLÀFDQW FKDQJHV LQ EHHU TXDOLW\ DQG VWDELOLW\ were found to be also affected by vibration during transport. The vibrations cause a rapid decrease in oxygen and an increase in compounds which cause the beer to smell like wet cardboard. There is even some evidence that exposure to light can affect the taste of beer which is, in part, the reason why some manufacturers use bottles with a darker colour.

My fellow shareholders, ladies and gentlemen, the aim of our message “Freshness is Domestic” is not so

7KHVH FRPSURPLVHV WR ÁDYRXU DQG TXDOLW\ DUH QRW much to prevent storage mishaps, but rather to limit only caused by the competitive beer market, but WKH HIIHFWV RQ WKH ÁDYRXU SURÀOHV RI WKH EHHUV ZKLFK also the continuing pressures from the retail trade to

are featured on the cover of our Annual Report.

deliver products with a longer shelf life. Although

Freshness is a quality appreciated by consumers both

in most other industries “Fresh is Best” is considered

within the Bars and Restaurants trade and for home

a pure and simple fact amongst consumers; in the

consumption where our aim is to ensure that there are

Beer industry, market pressures contribute to the

no taste compromises through the delivery of fresh

misguided perception by some consumers that

beer from our domestic Brewery to your preferred

bottled or canned beer doesn’t really go off. There

place of consumption.

are, however, some indications that attitudes are

The Webster Dictionary provides the following

changing with the use of a “born on date”: as

GHÀQLWLRQ ² ´%UHZLQJµ DV WR SUHSDUH %HHU $OH 6WRXW

opposed to a “best before date” to give consumers a

etc.) by steeping, boiling and fermentation or by

better understanding of how long their beer has been

infusion and fermentation. Now the only way this

around before they drink it.

can be done is by a Brew house or a Brewery. This is the reason that we advertise that the only beers brewed and bottled in Guyana are Banks Beer, GT Beer and Classic Beer by Banks DIH Limited.

3

PACESETTER NEWS 2024

Legal proceedings Securities Council

against

Guyana

´*6&µ IRU DSSURYDO RI WKH DSSOLFDWLRQV UHTXLUHG WR implement the Scheme of Arrangement. There has been correspondence in that regard between the 8th

My fellow shareholders, the question is being asked

6HSWHPEHU WR WKH WK 2FWREHU EHWZHHQ

“Why the Banks DIH Holdings Inc., approved by the

BDIH and the GSC. That correspondence has not

shareholders at a Special General Meeting held on 15

resulted in a positive outcome”.

July 2023, has not yet been implemented?”

2.

6HFXULWLHV &RXQFLO ´*6&µ WR DSSURYH RXU

In the Annual Directors’ Report it was stated as

applications to bring into operation the new

follows: 1.

holding company, Banks DIH Holdings Inc.

´2Q WK -DQXDU\ \RXU GLUHFWRUV

´%',++,µ 7KDW LV VR QRWZLWKVWDQGLQJ ERWK

incorporated a holding company by the name

shareholder and Court approval of the Scheme

RI %DQNV ',+ +ROGLQJV ,QF ´%',++,µ 7KH

RI $UUDQJHPHQW ´62$ $FFRUGLQJO\ ZH

BDIHHI is to create a new corporate structure

have had no choice but to follow the advice

for the Banks DIH group of companies, which

of our Attorneys to apply to the High Court

would facilitate the entry into new activities

for orders designed to result in the Scheme of

arising from the present rapid economic development in Guyana.

We have been unable to persuade the Guyana

Arrangement being fully implemented and the

This step was

new holding company coming into operation.

taken pursuant to the advice of the reputable DFFRXQWLQJ ÀUP %'2 ZKLFK RSHUDWHV LQ

3.

many countries in the western world and has

7KH OHJDO SURFHHGLQJV ZHUH ÀOHG RQ WK December, 2023. The matter is listed for hearing

D EUDQFK RIÀFH LQ 6W /XFLD

on 20th February, 2024. We will be respectfully asking the Courts to deal with the matter on an

In order to bring into operation BDIHHI, the directors

expedited basis. This is because undue delay

had to have recourse to a Scheme of Arrangement

is more than likely to deprive the Banks DIH

´62$µ XQGHU ZKLFK WKH VKDUHKROGHUV RI %',+

Group from investment opportunities with

would exchange their shares for shares to be issued

foreign partners which can result in enhanced

by the new holding company BDIHHI. That Scheme

shareholder value.

of Arrangement required not only shareholder approval, but also judicial sanction in accordance

Chairman’s Report

with Section 217 of the Companies Act, Cap 81:01.

My fellow shareholders, it is my pleasure to present The shareholder approval was obtained at a meeting

to you my Report which provides a comprehensive

held on Saturday, 15 July, 2023 and judicial sanction

overview of the performance of the Banks DIH Group

of the Scheme of Arrangement was granted by a

for the Financial Year which concluded on September

&RXUW 2UGHU PDGH RQ WK 6HSWHPEHU

30, 2023.

After the aforementioned steps were taken and

5HYHQXH DQG 3URÀWV

accomplished, the next step involved was an

The overall performance of the Group improved

application to the Guyana Securities Council

E\ UHFRUGLQJ D 3URÀW EHIRUH 7D[ RI ELOOLRQ

4

Freshness is Domestic FRPSDUHG WR ELOOLRQ LQ DQ LQFUHDVH RI 2XU VWUDWHJ\ ZDV FHQWUHG DURXQG RXU HPSOR\HHV ELOOLRQ RU

and customers to drive sustainable solutions and

3URÀW DIWHU 7D[ IRU WKH *URXS DWWULEXWDEOH WR build resilience in our manufacturing processes, Shareholders of the Parent Company increased from

maintaining the production of high quality products

ELOOLRQ WR ELOOLRQ DQ LQFUHDVH RI DQG HIÀFLHQF\ LQ RSHUDWLRQV PLOOLRQ RU Additionally, my fellow shareholders, our Leadership The Board of Directors has recommended a dividend

VNLOOV ZHUH DOVR GHPRQVWUDWHG LQ RXU SUXGHQW ÀQDQFLDO

SURSRVDO RI SHU VKDUH XQLW UHVXOWLQJ LQ DQ RYHUDOO management and the utilisation of our Information FRVW RI ELOOLRQ DV FRPSDUHG ZLWK ELOOLRQ 7HFKQRORJ\ UHVRXUFHV WR HQKDQFH GHFLVLRQ PDNLQJ LQ LQ DQ LQFUHDVH RI PLOOLRQ RU

real time.

5HYHQXH JHQHUDWHG E\ WKH &RPSDQ\ ZDV ELOOLRQ FRPSDUHG WR ELOOLRQ LQ DQ Capital Expenditure LQFUHDVH RI ELOOLRQ RU

Fellow shareholders, the Company continued to

7KH 3URÀW EHIRUH 7D[ IRU WKH &RPSDQ\ ZDV make Capital investments in Plant, Machinery ELOOLRQ FRPSDUHG WR ELOOLRQ DFKLHYHG LQ DQG (TXLSPHQW LQ RUGHU WR VWUHQJWKHQ ORQJ WHUP DQ LQFUHDVH RI PLOOLRQ RU ZKLOH WKH 3URÀW development, bolster our manufacturing capacity, DIWHU 7D[ LQFUHDVHG IURP ELOOLRQ WR DQG LPSURYH WKH RSHUDWLRQDO HIÀFLHQF\ ELOOLRQ E\ PLOOLRQ RU

Capital Works were completed with the acquisition of a 120 HL Brew House to enhance the brewing capacity

The complexity of the business environment is

of our Malt products. There was the acquisition of

escalating rapidly. In the wake of the ongoing Global

a Blow Moulder, Conveyors and Puncheons for the

UHFRYHU\ IURP WKH &29,' SDQGHPLF LQ ZH 5XP 'LYLVLRQ DV ZHOO DV D QHZ RQ OLQH %ORZ 0RXOGHU have encountered further challenges in the global

for the Soft Drink Plant.

landscape impacting our operations. The Geopolitical FULVLV LQ (XURSH FRQWLQXHV WR H[HUW LQÁXHQFH RQ The Food Division was enhanced with Packaging commodity prices and Supply Chain operations.

equipment, Spiral Mixers, Bag Sealing Unit, Conical Rounder and Temperature Control equipment.

7KH FRPSDQ\ ZDV FHUWLÀHG DQG DSSURYHG WR XVH WKH “Made in Guyana” PDUN IRU D DOO 0DOW SURGXFWV E The Utility Services Areas within the Company which DOO &DUERQDWHG 6RIW 'ULQNV F DOO SURGXFWV SURGXFHG LQFOXGH 7KLUVW 3DUN :DWHU :HOO &2 3ODQW &HQWUDO E\ WKH 'DLU\ 1RYHOW\ ,FH 3ODQW G DOO 5XPV DQG Quality Lab, Refrigeration and Material Handling 9RGND DQG F DOO :LQHV PDQXIDFWXUHG E\ %DQNV ',+ were all upgraded with new equipment.

Limited.

The Power Generation Department was upgraded with new Switch Gears, the overhaul of Generators

The Financial Year which ended on September 30,

and the installation of Alternative Power equipment.

2023 had many challenges which included Supply Chain delays and increased costs for Raw and

Several of our Land Holdings and Buildings were

Packaging materials, Spares, Energy, Distribution

upgraded including the Berbice Branch Bond, Special

and the Retention of Skilled Employees.

(YHQWV 2XWOHW DQG WKH /LQGHQ %UDQFK &RQVWUXFWLRQ 5

PACESETTER NEWS 2024 works continued on the Elevated Car Parking

7KH VL[WK ÁRRU ZLOO DFFRPPRGDWH D VWDWH RI WKH

facilities.

art Restaurant which will seat approximately 300 persons and will cater for events such as Conferences,

My fellow shareholders, the Elevated Car Parking

Weddings, similar social events and facilities for

structure which is located just west of Thirst Park

private dining.

on land bounded by the East Bank Public Road and the Demerara River, has been the source of

Additionally, the western end will have parking to

many questions from the general public as to what

accommodate thirty trucks.

exactly was Banks DIH Limited creating on that plot

New Products

of land. My fellow shareholders, I can today, with a deep sense of pride in what we have been able to

Guinness Smooth

DFFRPSOLVK DGYLVH WKDW WKH VWUXFWXUH ZLOO EH D VL[ storey Parking facility which will also house several related business ventures.

By way of some background information, the building was designed by Garcia Mayoral Ramos and Associates with the structural engineering design component undertaken by Mr Javier Canizares of Miami, Florida respectively. The structure consists RI VL[ ÁRRUV HDFK KDYLQJ VTXDUH IHHW RI VSDFH 7KH LQWHQWLRQ LV WR XWLOLVH OHYHOV RQH WR ÀYH IRU WKH parking of employees’ vehicles: 80 vehicles per level totalling 400 vehicles.

Construction commenced

My fellow shareholders, it gives me great pleasure RQ 1RYHPEHU ZLWK D SURMHFWHG RSHQLQJ to introduce to you, Guinness Smooth, a Stout date of 1 December 2023. Several challenges were that represents the culmination of meticulous encountered, some of which being the effects of the

craftsmanship, innovation, and an unwavering

&RYLG 3DQGHPLF FRQWLQXRXV UDLQIDOO LQ DGGLWLRQ commitment aimed at delivering excellence, to to a shortage of skilled and unskilled labour. the consumer and is brewed right here at Banks My fellow shareholders, in spite of the challenges

DIH Limited in collaboration with Diageo Global

and the fact that the project design was undertaken

Technical Brand Team.

E\ DQ RYHUVHDV $UFKLWHFWXUDO 'HVLJQ ÀUP ZH FDQ WDNH much pride in the fact that the construction was done

Guinness Smooth is a bittersweet mix of Hops, Malt

mainly by local contractors. Additionally, my fellow

and roasted Barley which gives it its rich chocolate

shareholders, the Ground Floor has been designed to

DQG FRIIHH ÁDYRXU ,W LV EUHZHG ZLWK D UREXVW \HDVW

accommodate an Automotive Dealership which will

and it has one third of the bitterness of Guinness

GLVSOD\ 0RWRU 9HKLFOHV 0RWRUF\FOHV 9HKLFOH W\UHV Foreign Extract Stout. The product was introduced and CM Lift Trucks and Daikin Air conditioning to the Guyanese market and the results so far have systems.

been most encouraging.

6

Freshness is Domestic

Classic Beer

Minute Maid

Today it gives me great pride to introduce to Guyana

During 2023, after extensive Capital Expenditure

Banks Classic Premium Beer, a true representation

to upgrade the Soft Drink Plant including updated

and commitment to innovation, brewed right here

Mixing and Blending capability, Water treatment,

at the only Brewery in Guyana, Banks DIH limited

&OHDQ LQ 3ODFH HTXLSPHQW DQG WKH DGGLWLRQ RI

Brewery.

Nitrogen Dosing equipment, Banks DIH Limited began the production and distribution of Minute

&ODVVLF %HHU LV D IXOO ERGLHG EHHU XVLQJ D VSHFLÀF Maid Fruit Coolers under License of the Coca Cola variety of Hops that delivers a clean bitterness

Company. Banks DIH Limited and the Coca Cola

that is pleasant to the palate. The mixture of two

Company have worked together on the project

VSHFLÀFDOO\ VHOHFWHG YDULHW\ RI PDOWV JLYHV LW WKDW IXOO implementation for this new locally produced PDOW\ ÁDYRXU ZKLFK LV WKH WUXH QDWXUH RI D SUHPLXP beverage over the last eighteen months and we are quality product.

pleased to bring these products to the Guyana market.

Classic is a lager beer and is brewed under the strictest of quality control and assurance measures,

7KH 0LQXWH 0DLG EUDQG ZDV IRXQGHG LQ DQG

ensuring that all the standard operating procedures

has grown to be the No. 1 Juice Brand in the world.

are adhered to throughout the process.

Minute Maid Fruit Coolers are in the “refreshment” category and are a part of a family of Minute Maid

Classic Beer is another great addition to the line

Juice beverages. Made with real juice and infused

of products at Banks DIH where we believe that

ZLWK YLWDPLQV 0LQXWH 0DLG )UXLW &RROHUV DUH VKHOI

)UHVKQHVV LV 'RPHVWLF ,W VHUYHV DV D ÀWWLQJ WULEXWH WR stable and can be stored at room temperature. Banks our commitment to the Guyanese public by bringing

DIH Limited produces Minute Maid Fruit Coolers

high quality products to our customers. Classic Beer

LQ D YDULHW\ RI ÁDYRXUV LQFOXGLQJ 7URSLFDO 3XQFK

will be available this afternoon at the Bars.

Citrus Punch and Apple in three sizes: 250 ml, 500 ml and 1.5L. Minute Maid Fruit Coolers are available at all retail and wholesale outlets nationwide.

Minute

Maid Fruit Coolers will be available this afternoon at the Bars and you will also receive samples as a part of your gift.

7

PACESETTER NEWS 2024 'XULQJ WKH \HDU WKH &RPSDQ\ DFTXLUHG IRUW\ focus on the upgrade of the No. 1 and No. 2 Soft Drink acres of land for the purpose of future development

Plants, the Dairy Plant, Bakery, Transport, Power

and expansion.

Generation and Land Development, and a new Beer Bottling Plant to be commissioned by 2025.

0\ IHOORZ VKDUHKROGHUV LQ ZLWK WKH

Citizens Bank Guyana Inc.

establishment of Bank Breweries Limited, ‘Thirst

3DUN· DV LW FDPH WR EH NQRZQ FDPH LQWR EHLQJ 2YHU 7KH UHYHQXH RI &LWL]HQV %DQN *X\DQD ,QF D WKH SDVW VL[W\ HLJKW \HDUV PDQ\ QHZ GHSDUWPHQWV RZQHG VXEVLGLDU\ RI WKH &RPSDQ\ ZDV ELOOLRQ and services have been added with the reality being

FRPSDUHG ZLWK ELOOLRQ JHQHUDWHG LQ DQ

that there is no more space at the Ruimveldt location

LQFUHDVH RI PLOOLRQ RU 7KH 3URÀW EHIRUH

WR DFFRPPRGDWH DQ\ QHZ EXVLQHVV UHODWHG DFWLYLW\ 7D[ ZDV ELOOLRQ FRPSDUHG WR ELOOLRQ As such, the Board of Directors sanctioned the LQ DQ LQFUHDVH RI PLOOLRQ RU ZKLOH purchase of 40 acres of land from Houston Estates

3URÀW DIWHU 7D[ ZDV ELOOLRQ FRPSDUHG WR

Limited for future development, located east of the

ELOOLRQ DQ LQFUHDVH RI PLOOLRQ RU

new Mandela Highway.

1HW ,QWHUHVW ,QFRPH ZDV ELOOLRQ 7KH (DUQLQJV The development of this land will be Phase 1 and will

SHU 6KDUH ZDV ZKLOH WKH WRWDO $VVHW %DVH ZDV

VWDUW LQ ZLWK WKH HUHFWLRQ RI WZR IHHW FRQFUHWH ELOOLRQ /RDQ $VVHWV ZHUH LQFUHDVHG IURP Bridges on the southern side with one on the East ELOOLRQ WR ELOOLRQ E\ RU ELOOLRQ and West approaches respectively.

Additionally,

the plot will be fenced. In the interim, we propose

Banks Automotive & Services Inc.

to construct a temporary bridge to commence land

%DQNV $XWRPRWLYH DQG 6HUYLFHV ,QF D RZQHG

FOHDULQJ DFWLYLWLHV DQG WKH ÀOOLQJ RI VDQG 7KH ÀUVW subsidiary of the Company, generated revenues of phase of usage will be Warehouses for the storage PLOOLRQ FRPSDUHG WR PLOOLRQ LQ DQ of Bottles, Durables and Consumables. The second

LQFUHDVH RI PLOOLRQ RU 7KH 3URÀW EHIRUH

phase is for the Central Services/Utilities Systems

7D[ ZDV PLOOLRQ FRPSDUHG WR PLOOLRQ DQ

DQG ÀQDOO\ PDQXIDFWXULQJ

LQFUHDVH RI PLOOLRQ RU 7KH QHZ PXOWL VWRUH\ YHKLFOH SDUNLQJ IDFLOLW\ DQG FRUSRUDWH RIÀFHV

7KH SXUFKDVH SULFH IRU WKH DFUHV ZDV ELOOLRQ

and showroom of Banks Automotive and Services Inc.

In our quest to deliver products to customers,

LV H[SHFWHG WR EH RSHQHG IRU XVH LQ WKH ÀUVW TXDUWHU RI

the Transport and Distribution Fleet was boosted with the acquisition of new Trucks and Forklifts.

Legal Contract

Hundreds of customers in the Mom and Pop shops,

2Q WKH WK GD\ RI $XJXVW %DQNV $XWRPRWLYH 6XSHUPDUNHWV DQG *URFHU\ 6WRUHV DQG VHYHUDO 2IÀFHV and Services Inc., and Daikin Applied Latin America and Ministries were supplied with Coolers, Freezers L.L.C. executed an Agreement, which established and Water Dispensers.

a partnership between the two parties for the

The Information, Communication and Technology

distribution of Daikin products. Banks Automotive ,&7 'HSDUWPHQW ZDV XSJUDGHG ZLWK QHZ and Services Inc., was appointed by Daikin Applied Computers and Power Solutions.

Latin American L.L.C. as its Distributor for the resale In the Financial Year 2024, Capital Expenditure will

and distribution of its Air Conditioning equipment, 8

Freshness is Domestic which includes accessories and parts. Daikin Applied

IRU 6WDQGDUGLVDWLRQ ,62 DQG &RFD &ROD 4XDOLW\ DQG

Latin America L.L.C. is a subsidiary of Daikin

Safety Management Systems:

Applied Americas Inc., the largest Air Conditioning

,62 ² 4XDOLW\ 0DQDJHPHQW 6\VWHPV

Company in the world and a multinational and

6XUYHLOODQFH $XGLWV &HUWLÀFDWLRQ DQG 5H

OHDGLQJ SURYLGHU RI +9$& +HDWLQJ 9HQWLODWLRQ $LU

&HUWLÀFDWLRQ $XGLWV ,62 ² )RRG 0DQDJHPHQW 6DIHW\ Systems.

Conditioning and Refrigeration) solutions to meet the changing needs of residential, commercial and industrial customers.

,62 76 ² 3UHUHTXLVLWH 3URJUDPPHV on Food Safety.

Dividends

)RRG 6DIHW\ 6\VWHP &HUWLÀFDWLRQ

My fellow shareholders, the Board of Directors

)66&

6WDQGDUG 9HUVLRQ IRU WKH 6RIW 'ULQN 3ODQW

GHFODUHG D ÀUVW LQWHULP GLYLGHQG RI SHU VKDUH

Novelty Ice/Dairy Plant and Carbon Dioxide

unit which was paid on May 18, 2023. A second

Manufacturing.

LQWHULP GLYLGHQG RI ZDV DOVR SDLG RQ 2FWREHU

Made in Guyana Mark by the Guyana National

26, 2023, and now the Board of Directors recommends

Bureau of Standards for all our locally

D ÀQDO GLYLGHQG RI SHU VKDUH XQLW PDNLQJ WKH

manufactured products.

RYHUDOO GLYLGHQG SHU VKDUH XQLW RU DQ RYHUDOO

FRVW RI ELOOLRQ DQ LQFUHDVH RI PLOOLRQ RU During the year, the Brewery achieved in the Guinness RYHU WKH SUHYLRXV \HDU

League of Excellence, third in the Americas out of IRXUWHHQ %UHZHULHV DQG QLQHWHHQWK :RUOGZLGH

Growth in Shareholders’ Value

RXW RI IRUW\ QLQH %UHZHULHV

My fellow shareholders, irrespective of the new

We were in compliance with all the operational

challenges which confronted us during the period

requirements with regard to the manufacture of

under review, we were able to record growth in

products of Royal Unibrew.

Shareholder value. )URP D 1HW 3URÀW RI ELOOLRQ DWWULEXWDEOH WR The Environmental and Safety Department was able VKDUHKROGHUV D GLYLGHQG SD\PHQW RI ELOOLRQ to successfully complete the Surveillance Audits

ZDV PDGH OHDYLQJ WKH VXP RI ELOOLRQ ZKLFK IRU WKH 6DIHW\ 0DQDJHPHQW 6\VWHP ,62 was transferred to Retained Earnings. The market DQG WKH (QYLURQPHQWDO 0DQDJHPHQW 6\VWHP ,62 value for the Company’s shares as at 30 November ZDV SHU VKDUH

14001:2015. The department was also able to acquire

DOO UHOHYDQW VDIHW\ &HUWLÀFDWHV RI &RPSOLDQFH IRU WKH year 2023 from the Guyana Fire Service, Guyana

Total Quality Management and Environment Energy Agency, Mayor and City Council and the Ministry of Labour.

Safety Functions.

My fellow shareholders, for the period under review, our Company continued aiming to achieve the highest standards in Product Quality, Health and Safety and Environmental Standards. In this regard, the Production Plants successfully completed

The Company continues to invest in capacity building through training and skill building. During 2023, over 350 employees were trained in the areas of Health and Safety. Additionally, 35 employees were trained

VXUYHLOODQFH $XGLWV IRU WKH ,QWHUQDWLRQDO 2UJDQLVDWLRQ as Fire Marshalls.

9

PACESETTER NEWS 2024

Community Relations/Partnerships

of practices by managers that facilitate the inclusion of

My fellow shareholders, we continually strive

employees, the public, those who provide experience

to cultivate meaningful relationships within our

and advice and the political leadership, in collectively

business, establish connections with our local

addressing problems and concerns of interest to

community, and engage with various organisations

the shareholders and stakeholders of a company or

and

fellow

organisation. In the inclusive management model,

shareholders, we continue to support Religious and

managers focus on building the capacity workforce

individuals.

Additionally,

my

)DLWK %DVHG &RPPXQLWLHV DV ZHOO DV VSRUWLQJ HYHQWV WR SDUWLFLSDWH LQ WKH SROLF\ SURFHVV 2QH VXFK ZD\ 2XU FRPPLWPHQW WR HGXFDWLRQDO LQLWLDWLYHV UHPDLQHG this capacity is built is through the structuring and steadfast with the continuation of Apprenticeship

maintaining of relationships by managers.

and Work Study Programmes. Continuous training,

reality is that managers function in a myriad of

facilitated

was

relationship structures that are used for making

conducted for employees at all levels. Moreover, we

decisions, implementing policy and identifying

by

our

Training

Department,

SURYLGHG EXUVDULHV WR HOLJLEOH VWXGHQWV VSHFLÀFDOO\ priorities.

The

These relationships assist in shaping

the children of employees and shareholders who

the structure, highlighting potential constraints or

excelled in the National Grade Six Assessment

present opportunities for the way policy is pursued.

1*6$ ([DPLQDWLRQ $GGLWLRQDOO\ 6FKRODUVKLSV My fellow shareholders, ladies and gentlemen, were granted to individuals pursuing degree

0DQDJHPHQW LV GHÀQHG DV WKH DGPLQLVWUDWLRQ RI

programmes at both the University of Guyana and

RUJDQLVDWLRQV ZKHWKHU WKH\ DUH D EXVLQHVV D QRQ

WKH *8<68&2 7UDLQLQJ &HQWUH

SURÀW RUJDQLVDWLRQ RU D JRYHUQPHQW ERG\ WKURXJK EXVLQHVV DGPLQLVWUDWLRQ QRQ SURÀW PDQDJHPHQW RU

Inclusiveness

public administration respectively. It is the science of

My fellow shareholders, ladies and gentlemen. As

managing the resources of business, governments and

we look towards the remainder of the 21st Century

other organisations. The management component

which now lies before us, there are two questions

of the compound idea of inclusive management

ZKLFK FRQIURQW XV 7KH ÀUVW TXHVWLRQ LV ´+RZ PXFK VLJQLÀHV WKDW LQFOXVLRQ LV D PDQDJHG RQJRLQJ have we learnt from our experiences from the last

project rather than an attainable state. My fellow

two decades?”, and the second question is “How

shareholders, inclusive management practices are

well will we be able to utilise those experiences to

one way to promote participation and engagement

grow the interests of our shareholders, our suppliers,

in an organisation, which may be implemented in

our employees and our customers?”

a variety of ways. Inclusive management practices have been found to improve the quality of policy planning or the viability of policies by:

My fellow shareholders, it is Martin Luther King Jnr, who said, “An individual has not started living

Generating better understandings of problem

XQWLO KH FDQ ULVH DERYH WKH QDUURZ FRQÀQHV RI KLV

areas and making new connections between

individualistic concerns to the broader concerns of

people and issues that have produced new

all humanity”.

ways of seeing and addressing problems.

Generating

My fellow shareholders, inclusive management or

new

leadership

by

creating

connections among issues and people, thereby

inclusiveness, is recognised and accepted as a pattern

creating platforms for action and identifying 10

Freshness is Domestic champions for causes.

Innovation, Revenue Growth, Management, and

Building capacity for ongoing engagement and

Execution.

implementation of programmes and policies

value for our Shareholders, Suppliers, Employees

UHODWHG WR WKH GHFLVLRQ PDNLQJ SURFHVV DQG

and Customers.

This dedicated focus aims to enhance

Facilitating change through inclusive processes to address issues which confront the organisation.

I wish to thank our Management team and employees for their commitment and dedication to those practices

Future Outlook

and values which have contributed to the growth

Fellow shareholders, the recently concluded year has

and development of the Group. I also wish to thank

once again demonstrated the Company’s resilience

my fellow Directors for their continued support,

in overcoming challenges.

As we anticipate the

encouragement and guidance throughout the year,

upcoming Financial Year and beyond, our strategic

and our valued shareholders, loyal customers,

approach involves maximising the potential of our

reliable suppliers, business partners and consumers

Global Brand Portfolio as well as solidifying our

who continue to support our products and services.

standing as a Consumer Focused Entity.

In conclusion, my fellow shareholders, ladies and

We are

FRPPLWWHG WR EXLOGLQJ XSRQ RXU ZHOO HVWDEOLVKHG gentlemen, permit me on my own behalf and that of the foundations by prioritising the reinforcement of our

Board of Directors to extend to you all and your loved

core strengths, including advancements in Marketing,

ones, an exciting, productive and rewarding 2024.

CO-MANAGING DIRECTOR RETIRES AFTER 51 YEARS OF STERLING SERVICE - MR GEORGE MCDONALD 0U *HRUJH 0F'RQDOG IRUPHU &R 0DQDJLQJ 'LUHFWRU UHWLUHG DIWHU some 51 years of loyal and dedicated service to our Company.

0U 0F'RQDOG MRLQHG RXU &RPSDQ\ RQ WKH VW 2FWREHU DV a Clerk in the Bottle Stores. His demonstration of commitment and dedication, caused him to to be selected for a Company scholarship to read for a Bachelor of Science Degree in Economics at the University of Guyana. Consequent upon his successful completion of his degree programme, he was appointed to WKH SRVLWLRQ RI 6DOHV 0DQDJHU 6RIW 'ULQN LQ ,Q 0U McDonald was recommended for promotion to the position of 0DUNHWLQJ 0DQDJHU ,Q 0U 0F'RQDOG ZDV UHFRPPHQGHG to sit on the Company’s Board of Directors as Marketing Director. ,Q 0U 0F'RQDOG ZDV FRQÀUPHG DV &R 0DQDJLQJ 'LUHFWRU 0DUNHWLQJ 'LUHFWRU ZKLFK SRVLWLRQ KH occupied until his retirement from active service in June 2023.

2Q EHKDOI RI WKH &KDLUPDQ %RDUG RI 'LUHFWRUV 0DQDJHPHQW DQG 6WDII RI %DQNV ',+ /LPLWHG ZH H[SUHVV JUDWLWXGH to Mr McDonald for 51 years of sterling and dedicated service and to wish him well over the years ahead.

11

PACESETTER NEWS 2024

LEADERSHIP DEVELOPMENT Two Executives Graduate from Ivy Executive Program

Gregory Garraway- Rum Factory Executive

Matthew Kendall - Brew Master

Two senior executives recently graduated from Ivey Executive Program delivered by Ivey Business School :HVWHUQ 8QLYHUVLW\ &DQDGD ZKHUH WKH\ ZHUH JLYHQ WKH RSSRUWXQLW\ WR DFFHOHUDWH WKHLU OHDGHUVKLS DQG executive management skills. Mr. Matthew Kendall and Mr. Gregory Garraway are the two latest addition to the number of graduates from the program over the years. The program boost an immersive learning experience that takes place for 3 modules, over 3 months, tailored to address the evolving challenges and opportunities facing leaders and organizations today.

Ten Leaders Graduate from Level Up Leadership Program

7KH /HYHO 8S /HDGHUVKLS 3URJUDP ZDV KHOG IURP -DQXDU\ WR -XQH 7KHVH ÀYH PRQWKV RI OHDUQLQJ catered to the development of three central acumen for success: personal acumen, people’s acumen, and EXVLQHVV DFXPHQ 2YHU ÀYH PRQWKV SDUWLFLSDQWV KDG WKH RSSRUWXQLW\ WR HQJDJH LQ YDULRXV LQWHUDFWLYH VHVVLRQV DQG ZRUNVKRSV IDFLOLWDWHG E\ 7KH 7UDLQLQJ 2IÀFHU 0V 1HELROD 7RSSLQ DQG RWKHU OHDGHUVKLS WUDLQHUV DQG coaches. The comprehensive program aimed to equip participants with the necessary skills and knowledge to excel in their roles and advance their careers.

Graduates were: Melanie Pilgrim, Daniel Anthony, Osline Thomas, Shizelle Joseph, Kevin Percival, Rebekah Seymour, Suzanna Hamilton, O’Neal Cere, Greg Cooper, Renee Fraser, Selwayne Underwood, Fraechie Kendall-Hard and Amanika Jack.

12

Freshness is Domestic

TWENTY – SEVEN ORGANIZATIONS RECEIVE DEEDS OF COVENANT

The annual Deeds of Covenant were disbursed to 27 community groups and organisations as part of the Company’s commitment to community impact.

This year’s ceremony was held in the Rotunda and the donations were disbursed by the Chairman/Managing Director, Clifford Reis to the following organizations: Missionaries of Charity, St. Andrew’s Kirk, The Scout Association of Guyana, Girl Guide’s Association, St. -RKQ·V $PEXODQFH %ULJDGH 7KH *X\DQD &RQIHUHQFH RI 6HYHQWK 'D\ $GYHQWLVWV <RXQJ 0HQ·V &KULVWLDQ Association, Young Women’s Christian Association; Uncle Eddie’s Home; Salvation Army; Gentlewomen Relief Association, Guyana Red Cross Society; St. George’s Cathedral, St. George’s Finance Committee, St -RVHSK·V 0HUF\ +RVSLWDO 6W -RKQ %RVFR %R\V· 2USKDQDJH *X\DQD 6RFLHW\ IRU WKH %OLQG *X\DQD 6RFLHW\ IRU the Prevention of Cruelty to Animals;Ύ6W 7KRPDV 0RUHV &RQIHUHQFH 6RFLHW\ RI WKH 6W 9LQFHQW 'H 3DXO 6W 9LQFHQW 'H3DXO 6RFLHW\ 2XU /DG\ RI WKH 0RXQW &KXUFK 2XU /DG\ RI WKH 0RXQW &KDULWLHV 6W 3KLOLS·V 3DULVK &KXUFK 'KDUP 6KDOD *X\DQD 6DQDWKDQ 'KDUPD 0DKD 6DED 6KDKHHG %R\V *LUOV 2USKDQDJH 5XLPYHOGW Children’s Home & Care Centre.

13

PACESETTER NEWS 2024

TWELVE EDUCATIONAL INSTITUTIONS BENEFIT FROM MONETARY DONATIONS

Twelve schools were presented with monetary donations from the Peter D’Aguiar Memorial Education Fund.

The schools awarded were: Georgetown: Better Hope Nursery | Cane Grove Primary | Leonora Secondary School | Covent Garden Secondary School Essequibo: Leguan Secondary School | Sans Souci Primary school Bartica: %HDFK 9LHZ 1XUVHU\ 6FKRRO _ ,WDEDOOL 3ULPDU\ 6FKRRO Linden: Mc Kenzie Primary School | Christianbury Wismar Secondary School Berbice: Albion Primary| Tain Primary

14

Freshness is Domestic

FOURTY - FOUR EMPLOYEES RECEIVE LONG SERVICE AWARD RECOGNITION At the 68th Annual General Meeting 44 employees were recognized for their committed service to Banks DIH Limited. Mr. Clifford Reis, Chairman/Managing Director presented the awards to the following recipients:

25 Years Awardees *DUWK 5DOSK DQG $OHVWHU &DPHURQ &HQWUDO 6HUYLFHV $QDQG &KDUUDQ DQG 7KDNXUGHHQ 'HRGDW )LQDQFH $GPLQ %HUQDUG -RKQVRQ 20* 3HUVDXG 5DPGKDQLH 9HKLFOH :RUNVKRS 6WHSKHQ *XOOLYHU %HHU %RWWOLQJ 3ODQW /HH %DSWLVWH 6DOHV $GPLQ 5R\ÀHOG +HQU\ 7ULVFR %UHDG 6DOHV /HRQD -DFREV .U\VWDO 'U\ &OHDQHUV /DNHUDQL 6XNUDP 3ROO\GRUH 6SHFLDO (YHQWV $OODQ :K\WH 7LPHKUL 'XW\ )UHH 6KRS -DPHV %DUU\ %HUELFH %UDQFK .DUHQ 'DQLHOV 7ULVFR %DNHU\

20 Years Awardees (UJHUWRQ 6WXDUW DQG 3DXO :LQWHU 'LVWULEXWLRQ :DUHKRXVH /DWR\D 0F )DUODQH DQG <HDRODQGD 1LOHV 0DLQ 6W 4 6HUY :RQQHWWH $UPVWURQJ /DZUHQFH $XVWLQ DQG 4XDV\ 0F.R\ 5XP )DFWRU\ $OWKHD 3HWHUV 5HWDLO / 6WRUH 3DWULFLD :DVKLQJWRQ 7ULVFR $GPLQ &OD\WRQ 3LWW 5RRI *DUGHQ 5RPHO (GPRQGVRQ 9HKLFOH :RUN6KRS &KULVWRSKHU 3HUVDXG (VVHTXLER 2XWGRRU 7LIIDQ\ :LOOLDPV &LQHWWD 0F'RQDOG -RQHV DQG 3DXOHWWHU 0LOOHU ,GLKR &RUW 0RUULV 'HPLFR &HQWUDO 6HUYLFH 0DOYHQ +RSNLQVRQ /LTXRU :DUHKRXVH ² ,QGRRU $ODQD -RKQ 5DZOLQV DQG 5RVHDQQ *LIWK 0DUVKDOO %DNHU\ /HRQ -RKQVRQ 5LFKDUG &ULWFKORZ DQG 'RZD\QH 5RJHUV 6RIW 'ULQN 3ODQW 'ZDLQ %ULVWRO &ROLQ .LQJ DQG *DYLQ -RGKDQ 6DOHV $GPLQ 5HVKPD 1HGG 7UVLFR 3ODQW -RHO &KDUOHV 6KRQ %XWWHUV 9HKLFOH :RUNVKRS ,DQ &KDUOHV DQG (]HNLHO %DLUG /LT 6DOHV %HY 6XSHUYLVLRQ 'UXSDWWLH 'HRQDULQH )LQDQFH $GPLQ 6KDXQD <KDS 20* 5R\O\QH 0F'RQDOG 3UL]H 0HGDO 3DWLVVHULH 2PHVK 5RQDOG 'LVWULEXWLRQ :DUHKRXVH .HOYLQ +DOH 7ULVFR %UHDG 6DOHV -RKQ &KDQG DQG 7UR\ *UDKDP 7ULVFR %DNHU\

15

PACESETTER NEWS 2024

16

Freshness is Domestic

SENIOR CITIZENS LUNCHEON After a three-year hiatus due to the Covid 19 Pandemic, the Annual Senior Citizen’s Luncheon was held in )HEUXDU\ DW RXU 7KLUVW 3DUN ORFDWLRQ The event saw a large turn out from invitees from various homes across Georgetown.

Invitees in the audience participated in the entertainment with songs, poetry and dance. Company Chairman/ Managing Director, Mr. Reis, reiterated in his remarks the importance of the event to the company and invited the attendees to receive hampers and donations on behalf of Banks DIH Limited.

17

PACESETTER NEWS 2024

ADMINISTRATED PROFESSIONALS TREATED FOR ADMIN PROFESSIONAL WEEK Administrative Professionals Week is a wonderful opportunity to express gratitude for the hard work of our administrative professionals who keep our Company running smoothly. These organizational superstars KDQGOH PXOWLWDVNLQJ SUREOHP VROYLQJ DQG FRRUGLQDWLRQ ZLWK ÀQHVVH PDNLQJ WKHP LQYDOXDEOH FRQWULEXWRUV to our teams.

7KLV \HDU DW %DQNV ',+ /LPLWHG ZH SUHVHQWHG WHDP PHPEHUV ZLWK EHDXWLIXO ÁRUDO DUUDQJHPHQWV DQG MRLQHG WRJHWKHU IRU D FHOHEUDWRU\ OXQFKHRQ DW WKH 20* 5HVWDXUDQW We appreciate their efforts and their continued commitment to excellence.

18

Freshness is Domestic

BANKS DIH COPS TOP NQA AWARD – CUSTOMER FOCUS - MANUFACTURING 2I WKH 2QH KXQGUHG FRPSDQLHV SDUWLFLSDWLQJ LQ the National Quality Awards program, Banks DIH Limited was award the recognition for Customer )RFXV ² 0DQXIDFWXULQJ 7KH 1DWLRQDO 4XDOLW\ Award Programme recognizes local companies that demonstrate the application of standards and quality systems in both the production of goods and delivery of service. It is steered towards promoting the competitiveness of Guyanese products and services and enables businesses to strive for excellence, be at a competitive edge, and enhance growth and development

while

encouraging

sustainability

*1%6 This award is a testament to our dedication to providing quality products and exceeding the expectations of our incredible customers. Mr. Zirodeen Kamalodeen of the Quality Assurance Department received the DZDUG RQ WKH FRPSDQ\·V EHKDOI DW WKH DZDUG FHUHPRQ\ KHOG RQ 2FWREHU

TWENTY-THREE DEPARTMENTS RECEIVES 2023 CHAIRMAN’S AWARD 7ZHQW\ 7KUHH GHSDUWPHQWV KDYH EHHQ UHFRJQL]HG IRU RXWVWDQGLQJ SHUIRUPDQFHV DW WKH $QQXDO 6WDII 0HHWLQJ held at the Sport Club.

Departments awarded this year were: Brewery, Trisco, Soft Drink Plant, Budgeting/Costing Department, Legal Department and Central Laboratory Department for Thirst Park; Linden and Essequibo Branches were also awarded. $ZDUGHHV LQ WKH 'HPLFR 'LYLVLRQ ZHUH 'HPLFR +RXVH 20* 4LN 6HUY ,GLKR 3DWLVVHULH DQG &UqPH 6HOHFW ,FH &UHDP /RXQJH +RQRXUDEOH 0HQWLRQV DZDUGHG ZHUH 6DOHV ² 0DOWV %DQNV %HHU *XLQQHVV 6RIW 'ULQNV :DWHU 5XP 3ODQW :DWHU 3ODQW &HQWUDO :RUNVKRS /LJKW 5HIULJHUDWLRQ 9HKLFOH :RUNVKRS %XLOGLQJV 'HSDUWPHQW :DUHKRXVH 0DWHULDOV KDQGOLQJ 'HSDUWPHQW (QYLURQPHQWDO 'HSDUWPHQW ,&7 'HSDUWPHQW +HDG 2IÀFH +XPDQ Resources; and Business Development Department.

19

PACESETTER NEWS 2024

Brewery

Trisco

Soft Drinks Plant

Budget and Costing

Legal Dept.

Central Lab Dept.

Linden

Essequibo

Demico House

OMG!

Qik Serv

Patisserie

Creme Select

Sales

Rum Factory Water Plant

Central workshop, Light Refrigeration

Vehicle workshop, Buildings Dept.

Beverage Warehouse

Materials Handling

Env Safety

ICT

Finance HR

Business Development

20

Freshness is Domestic

21