Contact Magazine Leadership Issue

Contents

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Ralph Nadar

15 Leading National Development 17 Timing is Everything: Public Service Transformation in Trinidad and Tobago 20 Is there a Global Vaccum?

22 Education and Leadership 24 Crime and Leadership 26 Tobago Tourism needs Leadership 28 Are you Irreplaceable?

A quarterly publication of The Trinidad and Tobago Chamber of Industry and Commerce

30 T&T’s Golden Age of Charismatic Leaders

Our Leadership Challenge

Initiating the Discussion on Leadership

As a society we are We must cast aside the very good at notion that leaders are campaigning against born or that leadership what we do not like, is destined for a but hopeless at defining chosen few. Within and campaigning for his/her sphere, each what we really want. person can be a leader – not only leading a Sometimes we need to step away from the company, political party or project, but leading mire of today and to dream of the better world a home, a hike, a fundraiser. that we would like to see tomorrow.

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32 Leading in the Information Age 34 What every business person should know 35 The Boissiere House 36 Right Fit for the Moderate Investor 40 Economic and Financial Statistics 42 Economic Outlook 43 Year end 2013 review

Election Campaign Finance Reform

Re-visiting a Social Compact

Trinidad and Tobago’s The law does not take Industrial Relations’ into account the reality climate has historically that political contests been a rocky one from are essentially between the early days of the political parties striving 1930s when workers to win votes across all were just seeking to formalize trade unions, through the late 20th constituencies, as opposed to contests between century to now in the early 21st century. individual candidates in electoral districts.

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46 Energy Outlook for T&T in 2014 48 Energy Statistics 51 TTEITI Update 52 Drilling Deep: Putting First Things First 64 Pamela Williams and Associates 66 The Chamber’s Annual Carnival Competition

Editor: Halima Khan Editorial Board: Communications Committee: Moonilal Lalchan, Catherine Kumar, Tricia Henry, Anthony Agostini, Andrew Johnson Design & Layout JG Design Caribbean Published by Eureka Communications Limited Suite #2 No.9 Avenue First, St. James, Trinidad W.I. Tel: (868) 622-2017 • (868) 628-1555 Fax: • (868) 622-4475 E-mail: • contacteureka@yahoo.com • lanny5052@gmail.com • jasong@tstt.net.tt For The Trinidad and Tobago Chamber of Industry and Commerce Columbus Circle, Westmoorings, P.O. Box 499, Port of Spain, Trinidad & Tobago W.I. Tel: (868) 637-6966 Fax: (868) 637-7425 E-mail: chamber@chamber.org.tt • Website: www.chamber.org.tt For this magazine contact: Tel: (868) 637-6966 Tobago Division:Trinidad and Tobago Chamber of Industry and Commerce 2nd Floor ANSA McAL Building, Milford Road, Scarborough, Tobago Tel: (868) 639-2669 Fax: (868) 639-2669 E-mail: tobagochamber@chamber.org.tt

67 The Chamber’s Events Welcome to New Members 68 Quarterly Report Tobago Division - Q4 2013 69 Trinidad & Tobago Debates Commission Leading Change 70 Community Leadership and the Citizens Security Programme 72 Advertisers

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Information on Trinidad & Tobago to the north-east of Trinidad. There are two international sea ports in Trinidad, Port-of-Spain and in Point Lisas. The International airports are located in Piarco, Trinidad and Crown Point, Tobago.

Trinidad’s economy is primarily dependent on the petrochemical sector, while the island of Tobago is mainly dependent on tourism.

Pigeon Point, Tobago

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rinidad and Tobago (T&T) has a population of approximately 1.3 million people who inhabit 4,827 square kilometers (1,886 miles) in Trinidad and 300 square kilometers (117 miles) in Tobago. Trinidad is located between 10º 2’ and 11º12’ N latitude and 60º 30’ and 61º 56’ W longitude or 11 Kilometers (6.8 miles) of the eastern coast of Venezuela. Tobago is located 32.2 Kilometers (20 miles)

The twin island republic boasts a multi-ethnic people, diverse culture and unique cuisine. As a result of its cosmopolitan population, the country celebrates a significant number of festivals around the year including carnival, Phagwa or Holi, Divali and Eid-Ul-Fitr. Tobago the smaller island, has a population of just over 54,000 and has an interesting history in that, during the colonial period, French, Dutch and British Forces fought for the possession of Tobago and the Island changed hands more than 22 times – more than any other Caribbean Island.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Trinidad and Tobago Chamber of Industry and Commerce

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VISION STATEMENT We are the Voice of Business.

MISSION STATEMENT To be the voice of business in the development towards a strong, sustainable national economy.

BOARD OF DIRECTORS Moonilal Lalchan, President Andrew Sabga – Immediate Past President Robert Trestrail – Senior Vice President Christopher Mack – Vice President Ronald Hinds – Vice President Rakesh Goswami – Vice President Wade George – Director Luana Boyack – Director Paula Rajkumarsingh – Director Jacqueline Francois – Director Jean-Pierre Du Coudray – Director Reyaz Ahamad – Director Diane Hadad – Chairman, Tobago Division Catherine Kumar – Corporate Secretary & Chief Executive Officer COMMITTEES - TRINIDAD • Communications • Corporate Social Responsibility • Crime & Justice • E-Business, Information Technology & Telecommunications (EBITT) • Energy • Health, Safety & Environment COMMITTEES - TOBAGO • Business Development & Tourism • Inter-island Transport

• Facilities Management & Maintenance • NOVA • Trade & Business Development • Legislative

• Security • Environment

HOW TO CONTACT US Trinidad and Tobago Chamber of Industry and Commerce Columbus Circle, Westmoorings, P.O. Box 499, Port of Spain, Trinidad & Tobago W.I. Tel: (868) 637 6966 Fax: (868) 637 7425 E-mail: chamber@chamber.org.tt • Website: www.chamber.org.tt Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce 2nd Floor, ANSA McAL Building, Milford Road, Scarborough, Tobago Tel: (868) 639 2669 Fax: (868) 639 2669 E-mail: tobagochamber@chamber.org.tt

Contact • Vol.14 No.1 2014

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An Editorial Note from the President

Initiating the Discussion on Leadership

By Moonilal Lalchan

Moonilal Lalchan, President, Trinidad and Tobago Chamber of Industry and Commerce

he theme of this issue of CONTACT is one which personally resounds with me, as I am sure it will for many of our readers. As I reflect on the national psyche when it comes to leadership, I would say even as we loudly plead for leadership in which we can place faith, we traditionally resist leadership. Put another way, we do not voluntarily follow, preferring a highly individualistic approach. This approach however, has its positives and negatives. On the positive side, we are naturally sceptical and automatically regard those in positions of power as being at risk to corruption and graft, and therefore keep a watchful eye on them. On the negative side, the pursuit of individualism is now chipping away at our social structure and leads to a ‘me first’ culture that, one could argue, is at the heart of our lawless behaviour.

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Can the right leadership change this? While our history has been one, especially in the transition from colonialism to independence, of natural, charismatic leadership, we have also been victims of it, not just in Trinidad and Tobago, but as a region. The void left by a past charismatic leader is difficult, sometimes impossible to fill, and in the life of both countries and corporations, can lead to its demise if not

astutely managed. But as we learn in corporations, management will not be effective unless there is buy-in from subordinates. The success of any entity depends upon the commitment, hard work and mutual trust of all. As Benjamin Disraeli (1804-1881) a British Conservative Prime Minister once said “I must follow the people. Am I not their leader?” In short, the leader depends upon his followers, and vice-versa.

We must cast aside the notion that leaders are born or that leadership is destined for a chosen few. Within his/her sphere, each person can be a leader – not only leading a company, political party or project, but leading a home, a hike, a fundraiser. By tapping into our areas of strength, there will always be opportunities for some to lead and some to follow; a follower in one setting may be a leader in another. This is the value of an economy of influence, with everyone having their own role to play in leading change. Each role of leadership brings with it responsibility; the responsibility for decisions whether good or bad, the responsibility to act in good faith, exhibit honesty, integrity and fairness. Not all of us may be born leaders, but the successful are the ones who rise to the challenges, and who

recognise that leadership is ultimately about service.

Some of our greatest leaders in their time were branded revolutionaries: Mohandas Ghandi, the Mahatma, and Nelson Madiba Mandela triumphed because they held to ideals, saw the possibility of their fellow men and put a stop to the blame game. If we hope to change the culture of T&T, we must revolutionise ourselves and recognise no one individual or entity is accountable for our successes or our failures. As Chamber President, I lead a Membership organisation dedicated to representing the interests of Business, while pursuing the national good, and the Business sector is acutely aware of the need to take up the challenge of true national development.

So, in this volume we explore some issues of leadership, both on the national and corporate front and our lead story, does an excellent job of summing up where we need to direct our energies as a people. As we enter our 135th year as a Chamber, it is my hope that the issues we have tackled in this volume will serve to stimulate discussion and maybe even serve as the launching pad for that change that we all understand we must make.

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Feature

Our Leadership Challenge

By Dr. Theodore Ferguson

am pretty sure that we will all like Trinidad and Tobago to become a model society for the rest of the world. All the ingredients are here. We have a population of outstanding human beings, all with the inherent capacity and desire to be good. We are a naturally creative and productive people. We have the intellect to be able to acquire and utilize knowledge to build a great society. We have the God-given capacity to love each other and to build a society in which harmony prevails. In so doing, the compound issue of indiscipline, violence and crime will be solved.

We now need the leaders, who like good chefs, will be able to blend the many rich ingredients to produce a society that is truly outstanding and the envy of the rest of humanity.

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Can we? I believe that we can.

To do so, we need to change the national conversation from the focus of just eliminating the negatives to focusing on the positives in order to build the great society that we all desire and that we have the potential to create.

We need to live in hope that as individuals and as a society we can become better, rather than remain mired in fear, doubt and hopelessness. We must stop fanning the flames of destruction and become nurturers in developing ourselves and a society in which the positives flourish.

As a society we are very good at campaigning against what we do not like, but hopeless at defining and campaigning for what we really want. Sometimes we need to step away from the mire of today and to dream of the better world that we would like to see tomorrow. We must first create it in our minds before we can bring it into reality. In December of 2002, I wrote the following dream-induced thoughts on the world in which I will like to live:

“I dream of a world in which: • The creative potential of all the people is expressed; • The people are free of the tyranny of the few; • People truly understand their freedom and their capacity for independent thought; • People recognise their potential for human goodness and the human goodness of others; • People understand the strength of community and the benefits of sharing and working together across national, tribal, racial, cultural, political, wealth and other boundaries; • Our children can grow in environments that can nurture their greatness through the expression of their divine intellect; • Peace and civility are the norms; • People can exercise their productive potential to feed and clothe themselves and to enjoy personal and communal security; • Integrity and honesty define our cultures and not dishonesty, broken promises, manipulative behaviours, cunning and greed; • People can move with confidence and not the false bravado of deep insecurity; • The presently oppressed can walk proud knowing that the rest of the world admires them for who they are - noble human beings; • Leadership will emerge, grow and protect this dream on a sustained basis.

This is the world that I dream of… It is a more spiritual world.”

Twelve years later I am still dreaming of this world. Can T&T take up the challenge of truly becoming a world leader? As an individual, Nelson Mandela did - despite his

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

humble, remote and disadvantaged beginnings.

Mandela, in his last book, “Conversations with Myself”, reminds us that: “Only great aims arouse great energies”. We need to set a great aim for the T&T society if we are to arouse and direct the energies of the people towards the creation of our dream society rather than have the energies of the people expended in a downward spiral of negativity and consumed by anger, fear and hopelessness.

Let us dream big if we are to shield ourselves of the dark thundering clouds of crime, violence and negativity that are now hovering and threatening to flood the society.

We have a choice. We can build a society of positivity or we can continue to remain imprisoned in a world of negativity. We need great leaders who can inspire us to move in that direction. But, do we understand what leadership is all about?

Leadership is a much talked about, but little understood subject, despite being a vital part of our daily lives. More often than not, we confuse leadership with management.

Management is about the manipulation of physical, financial and human resources to produce a desired output. As a manager you are the boss and you have the power of position and the authority to define and direct the use of the resources under your control.

You have the power to hire, discipline and fire. Further, you have the power to allocate resources to those under your control or to recall or deny the allocation of such resources.

Leadership, on the other hand, is about your ability to inspire and motivate others to work towards a common purpose. Others may voluntarily choose to follow you because of the trust, admiration and respect they have

Feature for you as a human being, and not just because of your position. As a result, leadership is not within your sole control. Leadership is always granted by others, not those who you report to, but those who choose to follow you willingly. You cannot become a leader until your followers choose to elevate you as such. You may even try to declare yourself a leader, but if there is no one following, then you are just another misguided person, even if you are the boss.

The power you enjoy as a leader comes from the followership that you attract and not from the position that you hold. Very often, people in managerial positions are not admired and respected by those they supervise and are therefore, not seen as leaders. Such managers have no followership and thus have only the power of their position to try to get things done. And as we know, they often end up being resented as they seek to exercise their managerial authority. In fact, the harder they strive to be the boss, the more they are resented and an environment of fear, stress, low morale and low productivity is the result.

Management, by definition, is a very autocratic but necessary process.

When you are a leader you are a source of inspiration for others. You exude spiritual energy. You ignite the human spirit in others such that they feel good about themselves as they draw positive energy from you. You motivate them to follow you voluntarily.

There is no coercion on the part of the genuine leader. Those who believe that they can coerce and manipulate themselves into leadership soon discover that they can fool people for

only a short while – it is not sustainable.

We often think of leadership in an organizational and political context only, ignoring the leadership that we are called upon to display in our homes and communities. As parents, we are presented with a marvelous opportunity to provide leadership in our households. This means being a source of inspiration to our spouses and children such that we receive their trust, respect and admiration willingly. If this is not happening voluntarily, and we find ourselves having to demand respect, then we are failing in being role models and a source of inspiration to those in our homes, despite the fact that children naturally look to their parents for leadership. In such a situation, leadership escapes us. We should not be surprised then if our children, and perhaps even our spouses, look elsewhere for inspiration – sometimes to unsavory characters such as gang leaders and drug dealers.

However, there is a glimmer of hope. The Arthur Lok Jack Graduate School of Business of the University of the West Indies has recently established the first genuine leadership development institute in the Caribbean. It has embraced the transformational philosophy of Leading From Above The Line.

Let us hope that the school can attract the necessary resources to become a gamechanger in bringing leadership development education, not just to its business students and business clients, but to the society as a whole.

The Chamber’s Group Health & Accidental Death & Dismemberment Plan The Chamber’s Group Health & Accidental Death & Dismemberment Plan, launched in 2003, is a highly flexible Plan with Sagicor with guaranteed protection against local and foreign emergencies. The Plan specifically targets member companies and results in The failure to provide positive leadership in favourable contributions for participants due our homes is perhaps the single most to the size of the Group. important factor contributing to the growing anti-social behaviours of our youth. In As a CariCare Plan member you will also addition, there is widespread agreement that receive your personal International Medical there is a paucity of leadership in business, Card affording you enhanced protection politics and in our society. against emergencies while travelling, or assistance for overseas treatment. Your card Without doubt leadership is the missing ensures the payment of all your eligible ingredient in the development of the Trinidad medical bills related to your emergency and Tobago Society. We are over managing anywhere in the world. If you are interested with a focus on restraining negative in joining the Plan, please send written behaviours, thus failing to inspire and confirmation of your interest to the Chamber’s motivate our citizenry to pursue the big dream Marketing and Communications Department of truly building a great society. at marketing@chamber.org.tt.

Contact • Vol.14 No.1 2014

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Feature

Re-visiting a Social Compact rinidad and Tobago’s Industrial Relations’ climate has historically been a rocky one from the early days of the 1930s when workers were just seeking to formalize trade unions, through the late 20th century to now in the early 21st century.

Globally the workplace is now characterized by free movement, not only of capital but also of labour. There is also contract labour which has been replacing jobs for life. These are just some factors that have seen trade unions’ membership, not only in Trinidad and Tobago, but across the world dwindle. In Trinidad and Tobago, productivity has been lower than advanced economies because of long-standing problems on how to solve disputes between employees and employers and it is within this environment different actors in the industrial relations system have seen the need for dialogue among all groups including the Government, business, labour and social sectors.

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In January 2014, the Minister of Labour announced a new, Social Dialogue Task Force.

It’s first meeting and involved the major stakeholders of the State, labour, employers , business and civil society. But this is not the first time that the different stakeholders have gotten together. On October 31, 2000, the Business Sector, Labour and the Government of Trinidad and Tobago signed “Compact 2000 and Beyond” to address economic and social issues. The objectives of Compact 2000 and Beyond included sustainable development, maintaining a stable and collaborative Industrial Relations climate, productivity, competitiveness, enhancing the social security system and expansion of the economy.

The Chief Executive Officer of the Trinidad and Tobago Chamber of Industry and Commerce noted in 2012 that “Compact 2000 was initiated in an attempt to ratify the International Labour Organisation (ILO) Convention 144 on tripartite consultations.

Unfortunately, however, this Compact did not get the attention it deserved and the project ceased.” Andrew Sabga a representative of the Chamber told CONTACT that when there are tripartite discussions among Business, Labour and the Government it allows all stakeholders

to concentrate on the important issues like labour legislation, productivity, competitiveness and industrial peace. “The main objective is to create industrial peace. For issues that are adversarial these need to be addressed in a non-adversarial manner. All parties must buy into the process of dialogue and they must be sincere and the commitment real,” he said. He took the position that constructive dialogue does not exist at the moment to the extent that it should.

“The industrial climate in the country is a bit charged now. A lot of it is unwarranted. I think there is too much politics that the trade unions are involving themselves in and there is not enough dealing with the real issues,” he pointed out. He said what trade unions must do is return to their basic functions which include collective bargaining and representing workers in the best way possible. “The labour unions need to return to basic collective bargaining. The labour laws of the country need to be re-aligned to ensure both labour and employers can work on issues together. I am not saying it is the unions alone to be blamed as there are some employers and businesses - all that their objective is, is profits - but that is not good,” he stated.

From an economic standpoint, he believes that good industrial relation practice is important as it allows all parties in the production process and economic environment to work together for the benefit of the country. He also said that there are sectors in the country which have a sense of entitlement and this must be replaced by a new work ethic. “People in Trinidad and Tobago must be rewarded for productive labour and learn that you get a fair day’s pay for a fair day’s work. We need to move away from this sense of entitlement. The reality now is that we are surviving on oil dollars which is a false economy, when this dries up we will be uncompetitive as manufacturers as we will be struggling in the face of the opening of former protectionist markets,” he said. Based on the challenges of the economic environment, he said the entire Industrial Relations system in the country needs to be revamped and he called for different stakeholders who have different

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By Raphael John-Lall

ideologies to put differences aside and begin dialogue. “If there is no hope there is no life.

We all need to work together and soften our ideological stance. If not then the problems will grow and there could be unemployment and other problems,” he said.

He is optimistic about the Social Dialogue Task Force. “So far all the parties have met under the umbrella of the Social Dialogue and I am optimistic that we will come up with solutions to the challenges and create a better Industrial Relations environment,” he said.

Mr. Michael Annisette, secretary general of the National Trade Union Centre (NATUC) spoke about the positive aspects of such a dialogue and admitted no gains came out of the Social Compact of 2000. “Its original aim was to deal with the economy, collective bargaining, and used as a mechanism where issues were supposed to be discussed.

Unfortunately all of the stakeholders did not keep at it as we should have,” he said.

He added that there is mistrust among the major actors in the Industrial Relations system and the latest Social Dialogue initiative put forward by the Government hopefully will solve this.

“The only time we seem to get together is when there are crises. But we need to move beyond that to have mechanisms in place where we can democratize the way we communicate to deal with the challenges that exist,” he said.

He referred to the ILO, which encourages social dialogue and he said that countries where a social dialogue had been established now have industrial relations systems that are conciliatory and more productive economies. “In fact those countries with social dialogue among all the major players, would have fared much better in the last world economic crisis than those countries that did not have a system like this.

Germany and Barbados are good examples,” he stated. Finally, he praised Minister of Labour, the Honourable Errol McLeod for setting up the Social Dialogue Task Force which he said brings everyone to the table to discuss issues on how to deal with the challenges of outdated labour legislation, low productivity, better collective bargaining and other issues that the industrial relations system faces.

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Election Campaign Finance Reform

By Dr. Norbert Masson, Chairman, Election and Boundaries Commission

he Elections and Boundaries Commission of Trinidad and Tobago continues to tirelessly advocate the need for political funding reform to ensure that “money does not equal speech”, thereby preventing the distortion of democracy by the corrupting influence of corporate money on the political process.

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Currently, the provisions of the electoral laws dealing with political financing in Trinidad and Tobago focus primarily on the election expenses of candidates. A good example of this is exemplified in sections 44-59 of the Representation of the People Act, Chap. 2:01.

The law does not take into account the reality that political contests are essentially between political parties striving to win votes across all constituencies, as opposed to contests between individual candidates in electoral districts.

The fundamental problem undergirding the issue of political-party financing, is the absence of a juridical and structural basis for the establishment of a political party. Nowhere in the laws of Trinidad and Tobago is the term political party defined: a serious drafting oversight. This has contributed much to the runaway state of affairs that exists today in political financing in Trinidad and Tobago and the region. And while it is clear that putting a limit on the expenditure of individual candidates in any new or remodelled legislation would continue to be desirable, the critical requirement of control of political party financing in any new law is a sine qua non.

Social scientists have theorized that, ‘a political party’, is one of the fundamental building blocks in the structure of a democratic form

of government. Consequently, the term ‘political party’ should be legally defined.

Arguably, a political party is a corporate body similar to that of a company. Companies consisting of directors, management and shareholders are required by law to be registered under the Companies Act, such legislation governing and controlling their actions. Why then shouldn’t political parties comprising their leaders, managers and rank and file members be registered under some similar authority and thereby be subjected to governance and control? Political parties have, for far too long, been allowed to get away with all kinds of unscrupulous activities.

voices. Corporate money has no morals and hence no loyalty to any goal other than maximizing profits. As such, awarding contracts for political reasons can lead to systemic corruption, and the inefficient allocation of public resources. It is time to take our Democracy back – it must be of the people, by the people, and for the people!

Public policy decisions and electoral outcomes should not be decided by who gave the biggest cheque. The Elections and Boundaries Commission is working towards ensuring that within the democratic process there is greater accountability from our elected officials and campaign finance reform measures shall go far to help regenerate public confidence in Our failure to do so at the time when our our state institutions.

Constitution was being drafted was an egregious blunder. This error must be The Commission has expressed, on more than corrected now. The first step therefore in any one occasion, its views on the need to enact plan or effort to control any aspect of the legislation to deal with the registration of financing of a political party, an activity which political parties, political party financing and would fall within the ambit of a party’s campaign financing. The Commission has operations, is to have the party conform to also written to the Government in connection legally defined guidelines i.e., to be registered with the matter by way of Cabinet Note EBC for a start. A horse fitted with a saddle and (2011) 11 dated November 25, 2013. Further, reins is much easier to control than a wild the Commission’s Chairman raised the issue one without; and also easier to treat when in at a meeting of CARICOM election officials need of medical attention and in a stall than held in Barbados on 8th-9th May, 2013, and if running in the wild. State financing and reported the outcome of its proceedings to regulation of party campaign financing should Government seeking to bolster the only be considered against the background Commission’s earlier recommendations. of a legally established entity.

In December 2013, the Elections and Now we turn our attention to the proliferate Boundaries Commission, in collaboration problem of money in politics. Of course we with the High Commission of Canada, know that when making donations to political Trinidad and Tobago Transparency Institute parties, corporations are not being selfless. and the United Nations Development A usual goal is often to secure government Programme, hosted a National Symposium contracts. But the unregulated flow of money in Port-of-Spain wherein political parties and into politics subverts the Nation’s individual other civil society organisations discussed Contact • Vol.14 No.1 2014

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Feature concepts relative to the registration of political parties, political party funding and campaign financing controls. In the two days immediately following the Symposium, confidential bi-lateral consultations were held with the major political parties to determine their preliminary views on these subject areas.

A second round of confidential bi-lateral talks is being planned for March 2014.

Within the Caribbean region, the efforts of the Electoral Commission of Jamaica (ECJ) towards the monitoring and regulation of campaign financing stand out as a beacon of hope. In a report to Parliament dated July 2010 the ECJ recommended that “…

Parliament amend the Representation of the People Act to include the registration and the financing of political parties.” And in November 2011 another report was submitted by the ECJ to Parliament on Campaign Financing. Arising from the comments and

opinions of Members of the House of Representatives and the Senate as expressed in the Parliamentary debates, the ECJ prepared another report dated August 2013 with revised recommendations to its Report on Campaign Financing.

electoral financing reform. Perhaps few realize that politicians are in fact employees of the electorate. An election is an event whereby electors employ the individuals they want to work for them. Of course we are all familiar with the reality that once the politicians get into office the roles are It therefore appears that Jamaica would be reversed. Politicians (the employees) are in the first country in the Caribbean to enact balcony and the electorate (the employers) legislation for (i) Registration of Political are in the fauteuils.

Parties, (ii) Financing of Political Parties and (iii) Regulating Political Campaign-Financing The question at once arises: should not of Political Parties. Trinidad and Tobago employees (the electorate) have their own must follow. manifesto stating clearly what they want their employees (the politicians) to do if and when In the free society ordained by our they attain office? Never mind your manifesto Constitution, it is not the government, but Mr. Politician. This is our manifesto; this is the people - individually as citizens and what we want you to do, and high on the list candidates and collectively as associations is enactment of legislation for registration, and political committees - who must create financing and registration of political active change on the thorny subject of campaign financing. Nothing less will do.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Feature

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Leading National Development

By Dr. Kamla Mungal

eadership is granted by the people when they perceive that a larger purpose, outside of self, is being pursued. It would appear that, especially for developing countries, the goal of national development and the improvement of the living conditions of the citizen provides a great opportunity for true leadership to come to the fore. Yet, we fail to see that leadership materialise in recognizable ways. We have been unable to inspire a nation to pursue the well-being of all its citizens. How does one define appropriate goals and motivate the nation to pursue them with passion in the interest of all?

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We can take a number of lessons from what is perhaps one of the most inspiring messages by a leader of the last century. John F. Kennedy mobilized the people of the United States to action when he said: “First, I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth.” In one sentence President Kennedy created the platform that mobilised a nation to action and excellence.

Clear and long-range goal: The goal of development and competitiveness was other-focused and important for the collective good of the nation. The specific goal articulated by President Kennedy was long-range but clear and compelling with defined criteria for success. There was an urgency to the task but the end was clear; not only was it to be achieved before the decade but success meant that the man must actually land on the moon. A clear image of success serves as a motivational force and every individual connects to that outcome from their own position. The connection is aided by specifying the smaller tasks and critical

elements of that success that lay in the hands an enabling environment by confirming that of the people. they had the resources and affirming that “now is the time.” Companies with great leadership Passion and focus on emotions: are always successful, despite the challenges Motivation is not a forced add-on. It cannot of the external environment. The discourse be attained by gimmicks and external gifts is centred on the vision and purpose such that that bring short-term satisfaction. Leadership that is always uplifting. and motivation is only evident when we ignite the passion of people such that they pursue The larger question of how do leaders develop their purpose with vigour, in a way that is not this ability to inspire others has an even simpler only sustaining to themselves but rewarding answer. Leaders whose names fall off our to others. Not only was the man to be landed tongues at first thought have consistently on the moon but he was to be brought back sought to develop themselves. Their principles safely to earth. All human beings have an and morality are at the core of their existence innate ability and desire to care and show and serve to guide their actions both in their compassion for others. The goal that reflects personal and public lives. They did not become this care, and is articulated by a leader who great by being self-centred; their greatness consistently lives for the well-being of others emerged along with their love, care and is inspiring and engaging of the human spirit. consistent actions in support of the national Organisational leaders who define and guide good. This is authentic leadership. Not only others to a larger purpose attain levels of is it inspiring to others but it is uplifting to the success that extends beyond the goals and leader himself or herself. This is the leader targets. The outcomes are not only related to and leadership that will inspire us to rapid the targets but evident in the growth, passion development. It is not a quality of only the and happiness of the people who have person at the top but it is facilitated by that contributed to their attainment. Great leaders individual who is thrust in a position from have learned to place the people, their passions which leadership is expected. It then becomes and the larger purpose at the centre of their an embedded organisational or national lives and at the heart of their strategy. characteristic.

Inspiration Great leaders have earned the consistent admiration of others by becoming an inspirational force that propels others to action.

It is an unwavering commitment to a positive outcome, despite the circumstances, that stimulates others to action in a way that is rewarding and consistently motivating. This is inspiration. It is not enabled by fear of what could happen; it is not enabled by threats of redundancy and it is stifled by the worry that emanates when one is constantly subjected to a discourse of deficiency. Kennedy created

Building a nation requires a leadership of love and care. It centres around the phenomenon of leadership rather than motivation. It requires inspiration and motivation is a consequence.

The leader is the source of inspiration and vision. The development journey requires leaps of action facilitated by visionary and inspiring leadership. There is a collective conscience and morality that is necessary for the progress of a nation and its people. The productivity and commitment of people is an innate force that is yet to be unleashed by the country’s leadership.

Contact • Vol.14 No.1 2014

Feature

Timing is Everything: Public Service Transformation in Trinidad and Tobago

By Tony Deyal

Observe due measure, for right timing is in all things the most important factor - Hesiod he Greek poet Hesiod, like William Shakespeare long after him, realized that timing is everything.

Shakespeare puts in the mouth of Brutus in Julius Caesar (Act 4, Scene 3) the importance of timing:

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There is a tide in the affairs of men.

Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries.

On such a full sea are we now afloat, And we must take the current when it serves, Or lose our ventures.

This is the situation in which the architects of public service transformation in Trinidad and Tobago find themselves. Even before Independence in 1962 there were attempts at “reforming” what was known then as the Civil Service although one of the wits of the time despaired. He asked, “They are neither civil nor do they behave like servants. How can you reform them?”

service at the bottom of the pile, and at the top the mandarins. Professionals were lost in the middle and existed in a time-warp waiting for the person ahead of them to either move up or move out. Since promotion was on length of service and not merit, it was a dirge without music, a constant state of limbo where service and servitude were the bar and stagnation the result. Risk taking was verboten, creativity and innovation frowned upon and highly discouraged, and professionalism a matter of personal preference. In the country of the blind, the one-eyed man looks to where the grass is greener and the brightest and the best departed hastily.

In 1962 and getting even more intricately interconnected several different forces converged that have the power to facilitate and even hasten public service transformation.

The first is the increasing demand by citizens and the different stakeholder groups for value for money from the public service. People want more for less. They expect to get their money’s worth from their hard-earned tax dollars. This reaction, sometimes dramatically expressed in protests, is increasing. The public service must do more, do better and do it for less. People are also aware of the increasing cost of waiting or travelling long distances for services. They are more and more mindful that these are “opportunity” costs and while invisible because no cash changes hands, they are a burden. The private sector wants greater ease in doing business and a country that is more competitive. They have fingered the public service for being the problem.

Obviously the public service has no choice but to respond positively and meaningfully rather than face an escalating climate of hostility and resentment.

A few years ago, the talk of public service transformation resurfaced and a wind of change started as fitful gusts in the Ministry of Public Administration. There was the announcement of a new attempt at making the public service more “citizen-centric” and of reducing costs, improving quality, increasing availability and accessibility of goods and service and providing a 24/7 menu Throughout the first fifty years of national of benefits and opportunities to the people. The second force is the growing power and independence there were many efforts at ubiquity of Information and Communications “reform” and this constant harping on the There was disbelief and the question was Technologies (ICTs) which are not just presumed inadequacies and inefficiencies of frequently asked, “Public Service simplifying and speeding up tasks and the public service prompted a question from Transformation failed for the first fifty years transactions but they work 24/7. The use of one of them, “But we haven’t done anything even with management hotshots like Gordon ICTs helps the public service to achieve the wrong so why do they want to reform us?” Draper leading the way so why would anyone “One-Stop Shops” that will allow any In the meantime the “public service”, as it was think it would succeed this time?” transaction to take place in any Government called after Independence, helped the country department anywhere in the country or to smoothly through changes of Government and The reason is timing. There is something access services through cellphones and home the traumas of 1970 and 1990. Whatever their called “convergence theory”. Initially, the computers. Already, scholarship applications, perceived faults, the public service by theory was applied to history and sociology National Insurance and other business can be remaining neutral helped to keep this country’s and stated that all industrial systems, whether transacted from home. fledgling democracy safe, sound and secure. capitalist or communist, would converge in their social, political and economic systems The third is that the Public Service is seeing At the same time the public service remained because of the determinant effects of the benefits of the change in the structure mired in the colonial bureaucracy it had technological development. It was later from a pyramid to a diamond that allows superseded – tied up in red tape, locked in a applied to the different electronic media scope and space for greater professionalism, governance straight jacket from a Victorian including computers, television, telephones innovation, creativity, some degrees of Museum of Horrors and in thrall to the office and radio converging as they have done into autonomy, accountability and more flexible and not the functions. Its structure was one package or one medium. In this case, work patterns and practices. There are pyramidal and bottom heavy – the bulk of the the cellphone. scholarships for public servants in fields that

Contact • Vol.14 No.1 2014

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Feature will contribute to the company’s sustainable development, the silos of isolation and vertical divisions are now being dismantled to accommodate new ways of working including multi-disciplinary teams, and people who for a long time stayed stuck at the bottom of the pile though qualified for higher levels of service, now see daylight. At the same time the long wait for contracts and the red tape and legal strictures are slowly diminishing.

The final factor that has melded the other forces together is leadership. The present Minister of Public Administration, Carolyn Seepersad-Bachan, has put together and manages a formidable team that eats, breathes, sleeps and dreams the transformation.

Because 2012 was the golden anniversary of the public service and 2022 will be the diamond anniversary, the Ministry has created the Journey From Gold To Diamond (G2D) and has set 2022 as the target for achieving excellence in service delivery by the entire public service. It has rolled out its flagship Diamond Certification Programme which is not a competition but a standard of excellence which public service and some private sector organisations are striving to achieve.

The fourth force is political will. In the Caribbean, especially in Trinidad, without the political will nothing happens – stasis and stay-still are the order of the day. This present Government recognizes the need for a more citizen-centric public service, a more satisfied public, and a more efficient government machinery. They have started to agree with The journey is now into its second full year sharing services and reducing waste – since its launch at a Gala Event in December improving efficiency and effectiveness. 2012. The Prime Minister of Trinidad and

Tobago made the point that public service transformation required and would result in the transformation of the entire country of Trinidad and Tobago. Minister SeepersadBachan’s vision is simpler. She wants her Ministry to help to create a Trinidad and Tobago in which the public service has been transformed so that all the services it delivers are of the highest possible quality and meet the most demanding standards of excellence; a Trinidad and Tobago in which citizens can stay at home and use computers or cellular phones or, at worst, will not have to venture far from their homes to access every service the Government has to offer; and a Government that is putting the resources in place so that the citizen is the be-all and endall, the hub and the wheel, the corona and periphera of the public service universe.

This is the Diamond Standard of service and some of it is already happening.

Communications Committee The Communications Committee is a Boardappointed Committee of the Chamber, chaired by the sitting President. Its role is to conceptualise and execute the Chamber’s communications strategy as guided by the Board of Directors. As such the committee oversees the publication of CONTACT magazine, three weekly newspaper columns, a weekly radio programme, media releases and other electronic newsletters and bulletins.

Each CONTACT magazine is thematic so that two thirds of the articles explore the issues related to the particular theme. The magazine is distributed free of charge to Chamber members. Complimentary copies are given to Members of Parliament, diplomatic missions, hotels and subscribers to the

Guardian newspaper. CONTACT may be read online at www.contact-tt.com.

The weekly “CONTACT with the Chamber” radio programme airs on I95.5 FM at 7:25 a.m. each Tuesday. It represents a Chamber editorial and is voiced by the Chamber’s Chief Executive Officer, Catherine Kumar.

Programmes are available on the Chamber’s website www.chamber.org.tt.

The main issues that form the basis of the Chamber’s lobbies are largely reflected in the newspaper columns. Since 2004, the Chamber has maintained three weekly newspaper columns - Wednesdays in the Business Express and Thursdays in both the Guardian Business and the Newsdays Business Day. Writing on the premise that all issues which affect the

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

national landscape also affect business, the columns serve to express Chamber opinion and policy. Topics for articles have included the economy, trade, crime, education, agriculture, health, the environment and culture. The committee encourages Chamber members to submit columns or ideas for columns on topics of interest. Columns may be between 700-900 words in length and the Chamber reserves the right to publish, subject to review by the Committee. The weekly columns may be accessed on the Chamber’s website at www.chamber.org.tt.

For further information on this committee kindly contact Halima Khan, Communications Officer, Marketing and Communications, at 637-6966 x 227 or email hkhan@chamber.org.tt.

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Feature

Is there a Global Vaccum?

By Vaneisa Baksh

elson Mandela’s death in December 2013 brought into sharp focus the global vacuum in leadership. Not from the size of the crowds paying their respects. You can’t rely on the hullabaloo it caused worldwide to measure the size of his shoes - the culture of today makes it necessary to be visibly celebrating, mourning, sleeping, eating, as long you post it right away. But with world leaders from every sphere cartwheeling over each other to join Mandela farewell parties (selfies and all) it was striking how far removed in stature they seemed—like ants teeming around a lion.

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It isn’t just on the scale of national leaders, about whom we have been bombarded with stories of corruption, graft, sexual misconduct, espionage, and even genocide, in recent times.

Even when they have avoided being charged with such offences, they say such offensive things!

The new Pope, for instance, had been pushing all the right buttons until he decided to include abortion in his list of dreadful aspects of a throwaway culture. This came as the UN hauled the Vatican in for questioning about the horrific sexual abuse of children by priests.

The Holy See, cassocked in its inviolable status as an entity that is a veritable law unto itself, has never reasonably addressed its long history of sexual abuse; the untold effects on countless lives can never be truly assessed. But the United Nations, another institution representing the loftiest ideals of citizens of the world (as some might argue, the Vatican does), can be accused of an enormous amount of moral hypocrisy in its own conduct. It too has condoned sexual abuse by its workers, has been accused of carelessly introducing cholera into Haiti; indeed, has averted its eyes from Haiti many times over, and has also been slow

to act in the face of countless atrocities offshoots. CARICOM did not lose its way globally. because people did not believe in it since like the UN, it was conceptualized deep in the Let’s face it, institutions are run by people heart of idealism. It has made itself irrelevant and those at the helm are the ones with the to Caribbean people because of poor greatest capacity to influence their value leadership, and by and large Caribbean people systems. Leaders of institutions are constantly have washed their hands off it as a mechanism faced with challenges regarding the types of to enable development in the region. decisions made within. Strong institutions develop and give primacy to following their Our local soil is soiled because for many years missions, goals and core values—nurturing the days have been bringing forth such tales internal cultures that live by their codes. Weak of corruption, lies, graft and fraud at the ones treat them as documents to be cited in highest levels that all public trust has press releases; meaningless in practice, but evaporated. Today, fraudulent degrees have useful as public relations exercises. been the soup de jour - and just as with crime, a lot of talk but no action has left the bitter There is a very fundamental aspect of bile of cynicism working through the gut of leadership which often goes unnoticed by the our citizens. Without leadership that we could conscious mind, but which resonates count on, the country has tragically slipped profoundly on the subconscious. It has to do into a hole with no apparent way out. Our with trustworthiness. A leader you can trust brand has become one of crime, corruption can work wonders getting you to follow. and poor customer relations. The leaders who, Despite the skeptical air that generally in their blissful expeditions to excavate surrounds world leaders, everywhere people national resources abandoned all regard for were fighting over themselves to recount decency, are finding now that they do not stories of when they breathed the same air as know how to control the forces they tried to Mandela did. Why? Mandela’s steadfastness harness. in the face of unrelenting trials made people trust him - gave them faith that he was truly The loss of confidence in institutions and a man intent on making the world a better leadership feeds this growing sense of place. powerlessness by the citizenry. That helpless feeling is why many strike out angrily; why Globally, if you analyse some of the decisions many refuse to abide by rules that seem to made by world leaders, you have to conclude benefit only a few. Entrepreneurs will tell you that they are driven by forces far removed that they can hardly find staff willing to go from altruism. The Catholic Church bemoans even an extra inch, far less the extra mile. the falling away of parishioners. It might have more to do with the loss of trust for the The economy has slowed down for many priesthood than with the other factors of reasons, and rebuilding trust requires deep ‘modern’ lifestyles that are blamed. The UN, commitment to a process that will take time, nearly 70 years old, has not earned the kind study and resources; and leadership you can of support it ought to from members, because trust, and right now, all are in very short they have lost faith in too many of its supply.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

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Feature

Education and Leadership

By Dr. Rolph Balgobin

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f ever there was a challenge to leadership in Trinidad and Tobago, it is that which is presented by education. Even as we drown in incivility and violence at one end of the societal spectrum, and in arrogance and corruption at the other, our educated classes have proved patently unable to devise let alone implement any reasonable solution to the problems faced at both ends and the middle of our society.

Perhaps the intelligentsia has not been able to come up with a solution because a common definition of the problem has not been agreed.

This is in part because we are smart, but perhaps not smart enough, each idea master only able to frame a problem in his own vocabulary, unable to bridge knowledge and language gaps to arrive at a general understanding of the challenge we face. We end up with a cacophony of definitions and inaccurate solutions, yet the symptoms are easy to see.

We know that we have a problem of crime and that this manifests as murder and assault on the one hand and white collar crime and corruption on the other. Both sit at opposite ends but are not strangers, since one needs the other for its perpetuation. But if crime is a problem, what is its cause? Put another way, if crime is a symptom, what is the underlying problem?

It is here that leadership comes into sharp focus, since a thorough examination of any and all issues faced by our bourgeoning society, from crime to institutional failure to corruption can locate both their cause and solution firmly in the province of leadership.

This is not a generally accepted argument, and there are many, including some Prime

Ministers past and perhaps present, who feel or have felt that they too are victims of the system, of a political culture gone horribly wrong. Faced with the powerlessness of their role buttressed by a hardened and unproductive culture, political leaders slide into decline themselves, enriching themselves as they go as compensation for having seen the true nature of the beast.

Perhaps we are unable to face our own reflection in much the same way as Wilde’s Dorian Gray was unable to witness his portrait, and to come to terms with the evil represented there. So we look everywhere else for our solutions, and instead create more problems.

Yet one cannot escape the sense that the problems of this country, and its opportunity set, would be well prosecuted by a good leader. The cynics among us may scoff, but Trinidad and Tobago may yet be a great nation, and we are certainly further along than India or South Africa were when Gandhi and Mandela rose to prominence. Even Pope Francis has redefined the role of Church leadership, changing very rapidly what was until a few months ago thought to be virtually unchangeable. There is hope for us yet.

So what then is the prime quality of a leader, and how do we get one who can lead us out of the mire and into a more elevated space?

It is here that education rises to clear the cerebral fog and rides, as they say, to the rescue.

this is the definitional latitude with which I seek to cloak my thesis. That is to say that the reason we have weak leadership is that the quality of our education has fallen dramatically over the years as we fundamentally misunderstood what education is and what an educated man or woman must be. Our education has focused on what a person knows, and not on who they are.

Denominational schools seek to provide some moral grounding at primary and secondary level, however this is rapidly denuded at the tertiary level. At government schools, which are free of religious constraint, moral and social instructions are bypassed far more quickly. The upshot of this is generations of young un-rooted in a wider community of values, whose commitment to the nationhood project is tenuous at best.

This is not as simple a problem to resolve as it is to articulate. We have spent years emphasising that a person is ‘bright’ when they pass their exams. Beyond the simple childhood instruction that children receive from parents – increasingly not to be assumed – most of our young are on autopilot, receiving little in the way of values-based coaching or social development except through everyday experience.

Proper education is of course the antidote, but this involves a tough look at the society by the society for the model is broken and must be changed. One has only to look at our leaders and their qualifications to see the inverse correlation between the development of our national character and what we think Education is far more than certification, a education is. Our leaders have almost point frequently misunderstood, with invariably had very high levels of certification, disastrous effects, by employers and students yet the tenor of our social relationships and alike. In its broadest sense, education is the quality of our life experiences appears to intellectual, moral and social instruction and have qualitatively declined.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Feature People trained to think critically, but without any moral or social anchor, display two dangerous attributes frequently seen in our leaders today. They are destructively critical and play in unanticipated spaces. Engaging in destructive criticism demolishes new ideas, but replaces them with nothing. The upshot is a society which does not, cannot move, because the social and psychological costs for innovators and change agents are simply too high.

rules, of regulations, using the training conferred by ‘education’ to say that what we want to do is possible since it has not been expressly outlawed, whether we know it to be good for the society or not. This use of justifying argument for one’s personal advancement tears at the fabric of a young society and makes us all vulnerable since we are rapidly descending, with the education system’s help, into a place where we are each a republic and the notion of the common good grows distant. This is not to say that we should

stop our people from studying. Far from it!

Rather, my proposition would be that we need a far more expansive perspective on what education should be, and we should seek to deliver such a holistic diet to our children, so that we may one day have more whole leaders.

If we can confront ourselves positively, and make the changes we know we must, Trinidad and Tobago may become the light of this hemisphere sooner than many of us think possible.

We all stand in a line of mediocrity, ready to train our guns on whoever steps forward.

Eventually the best of us retreat into our own spaces, jaded by the wanton misuse of power conferred by trained intellect. The battle is won by the certificated masses who shout loudest.

WELCOME TO WWW.CONTACT-TT.COM In an effort to continuously improve our services to you and due to the overwhelming response we have received for our quarterly business magazine, CONTACT, we have launched a website that caters to the needs of both our readers and advertisers.

As the premier voice of business in Trinidad and Tobago, CONTACT provides a forum to inform about current business issues nationally, regionally and internationally.

The magazine has a strong specialised thematic content, written and researched by respected Playing in the spaces is an even more business leaders and writers. Because of the focus of CONTACT, the magazine has a wide corrupting and insidious force operating in distribution and reaches key executives and leaders in the business community. our society, and this is almost exclusively the province of the certificated. This is where The website has many features to offer, including HTML and PDF compatibilities, archived we play very close to the letter of the law, of issues of the magazine, advertising rates, along with translation assistance.

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Feature

Crime and Leadership

By Vernon Khelawan

n excerpt from Jim Rohn’s book “The Treasury of Quotes”, defines leadership this way, “The challenge of leadership is to be strong, but not rude. Be kind, but not weak.

Be bold, but not a bully. Be thoughtful, but not lazy. Be humble but not timid. Be proud, but not arrogant. Have humour, but without folly.”

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Trinidad and Tobago’s leadership has been called into question on several occasions since the country became independent more than 50 years ago. Most times the attacks on poor leadership are aimed at the political directorate, but there are in fact many other levels of leadership that are wanting, including lower level bureaucrats who run state companies, while the private sector has not proven to be immune from poor leadership skills.

The worsening crime situation in Trinidad and Tobago has called into question the country’s leadership. The current scenario shows that the leadership of the criminal underworld, which includes the gangs and drug lords, is much better organised than that of the country’s leadership. Clearly there is a serious leadership crisis in the country.

What the public sees is that while the criminal entities carry out with precision their assaults on business and citizens and even children, government leaders continue to thrash about with flailing arms, making noises, but not making any real difference.

The biggest challenge facing this government and several previous administrations is the issue of the abatement of crime and criminal activity. It has been recognised that getting a handle on crime in Trinidad and Tobago is mainly a leadership issue, which to date has not been attacked frontally.

The politicians make the noises necessary to appease their various constituencies, while the Police Service remains seriously divided with dedicated, hard-working officers on one side and rogues and lethargic ones on the other. This combination of “ole talk” politicians and a divided police service makes fertile ground for the continuing escalation of criminal activity.

gangland murders and even so, little or no progress is being made in that area.

But has anybody looked at the recent upsurge in bank heists, armoured car hijackings or large jewellry thefts? Within a month there have been two multi-million dollar thefts, resulting in one death. A security vehicle (not bullet proofed) was hijacked, the courier killed and the bandits made off with lots of cash – reportedly in the millionnns - belonging Over the last four years, there have been four to several local banks and destined for Ministers of National Security and each one Tobago. promises to save the nation from the criminals. It is possible to assume that More recently, thieves, number unknown, between 2010 and today there have four were able to break into a Bank Branch in different sets of strategies aimed at reducing Sangre Grande and clean out the vault, which crime, each new Minister believing he has contained millions in cash and even jewelry the solution to this grave situation. belonging to customers lodged with the bank In 2007 Lee Iacoca, a formidable leader in for safe-keeping. If there were security guards the United States auto industry, published a on duty they did not hear anything, nor did book the title of which asked a poignant the alarm system activate. question, “Where have all the leaders gone?”

This same question is being asked every day To date, there been no arrests in either of the in Trinidad and Tobago, but not in such loud two attacks and both matters have been tones. surrounded by a deafening silence. No statement from any of the leaders – the A look at today’s scenario: Both the security company, the Police Service, the government and private sector leaders lament Bankers Association nor the political the fact that the murder rate for the country directorate. The Bank(s) involved did not put is intolerable. And they are right. So the out an official statement. focus understandably, has been for years, placed on that element of criminality. It begs other questions: Has any connection been made with these two heists and the They are all fully aware that the majority of recent drug busts, locally and abroad? murders now being committed are related to Someone has to pay for the cocaine and gangland activity – the fight for drug turfs marijuana that have been seized? Are these and valuable URP contracts - resulting in glaring heists part of that scenario? These revenge killings. One Minister of National are questions the country’s leaders have to Security went so far as to tell the country the answer. Saying investigations are continuing number of gangs that operate in various areas is just not good enough. in the country. But nothing has been done to stop the killings. The remainder of the The current drive to eradicate or seriously murders are “passion” killings and family damage the supply lines of illegal drugs, both disputes. Still, the focus remains on the from local sources and other Caribbean

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Feature islands has to be hurting somebody and as such there has to be some kind of retaliation by the criminal element to keep their money flowing.

Then there is the matter of money laundering. It happens in all forms and fashion in this country and has been this way for many years. The public hears very little about the instances when money laundering activities are discovered, and that is where it ends. The country is never privy to the results. As a matter of fact, there has hardly ever been a conviction, if at all, for any money laundering offence in this country.

Gun running is an activity that has been part of the underworld agenda of Trinidad and Tobago for many years. It is no secret that the small time bandits who use guns to commit robberies, rape and home invasions, are not the people who bring in the guns.

Again, the leaders in the security services and the government, ensures the lid on such activities remains tightly locked.

It is more convenient for persons in leadership positions to trade statements on the viability or usefulness of a British-built OPV as against a Chinese manufactured Long Range Vessel (LRV).

Keep the arguments going while the cocaine and guns keep flowing in from Central America.

Millions have been spent on importing so-called experts to advise leaders in the protective services how to get a handle on crime.

In other words if it can work in New York which accommodates some 12 million people, it shouldn’t be too difficult to have success in Trinidad and Tobago with a population of just over a million.

There have been dozens of crime plans. Every new National Security minister has come up with crime plans that have all failed to stem the murders and reaped little other rewards. Leaders must resolve to work together with the citizens, starting with the communities, if any progress is to be made in arresting the crime spiral. Until a real effort is made in this direction, nothing will happen in our fight against crime.

At the rank and file level, our leaders, both public and private, fail to connect solidly with citizens on so many issues – good and bad – which would in the long run benefit the entire country. It is time our leaders stop talking the talk and begin to walk the walk.

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Feature

Tobago Tourism needs Leadership

By Bertrand Bhikarry, Tobago Division

here’s a gut feeling among our entrepreneurs that tourism is Tobago’s only shot at a global business.

However there seems to be a problem transforming every effort made so far into successful or sustainable enterprise. The failure arguably, points to inadequacies of leadership and longstanding mediocre management of the island’s mainstay. It’s a view reflected by wary onlookers too, whether foreign-based investor types or simply potential visitors.

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At first blush, a thriving tourism-derived economy seems inevitable for Tobago, especially compared to better-known but lessendowed places like Barbados, St. Kitts or Antigua. At the regional level Tobago’s natural assets compare favourably to any of the islands up the chain. Reefs are still pristine, surpassing many offering of major Caribbean destinations and the island’s biodiversity, especially its avian life, are already acknowledged as world class.

And far from last, the culture of Tobago is as potentially ripe and engaging as that of any other community in the New World. So where exactly did we take a wrong turn with tourism?

Carlos Dillon, a highly respected Tobagonian with many years behind him on the tourism frontline became aware of this destination’s promise more than half a century ago, accompanying his father in the family’s tour operation business. Today he still recalls his father admonishing fellow guides – and tourists as well – about the wisdom of preserving Buccoo’s landmark ecosystem. Beyond his desire to revere his deceased parent, Carlos seems genuinely proud that someone way back then kept an eye out for the communal good.

Asked if the present generation of reef users have taken up stewardship for the reef in the same vein as his dad, the ‘young’ Dillon replied in the negative, asserting though that the current

crop of youth could benefit if better examples were set for them by their leaders. Indeed he may have inadvertently voiced the cure for Tobago’s tourism - if only someone could engineer it. Carlos himself is no neophyte to the national scene of commerce and politics.

He maintains a belief that the State directorate should act only as executive officers when they tend to the business of Corporation Sole. Ever concerned about matters at home he demands that Tobago’s political structure should remain apart from the discipline of its business. He always speaks with reverence of the gift of nature inherited by Tobagonians, always advocating for communities to take leadership roles to ensure said gift is held in trust for the others who have yet to be born.

the Tobago Division of the Chamber identified several outstanding voids in the island’s tourism strategy hampering the potential for growth.

Tobago’s core product still needs to be fine tuned but there appears to be nothing in the public domain that can be availed to guide investment in the tourism industry.

Chamber heads however concur however, that there’s room for optimism should such a plan be presented. It would potentially allow everyone to engage in better management at all levels. For example, taxi drivers would be able to forecast growth, could buy newer cars with greater confidence, could plan other growth or even manage family life better. It is logical that if everyone was working to a Based on knowledge gained from a stint with a common plan, similar type benefits would also multi-national oil company in the early days of accrue to the farming sector, to the construction the Galeota finds, Carlos opines the first companies and merchants as well. petrodollar windfall, coming as it did so quickly after Independence in 1962, enabled a paradigm Of course the airlines and hoteliers – the top of poor productivity. The easy money from of the tourism food chain, would be able also government instilled a sense of dependence upon to contemplate plant and property expansion, and saw to the cultivation of a narrow band of budget for advertising and generally cater to skillsets for the energy industry and its various all the things that goes with forecasting. offshoots. In essence he says, the tourism industry Unfortunately, it seems that Tourism has been in Tobago (and Trinidad too), had to take a left virtually uncultivated. backseat to petroleum mining.

Now, a detailed island vision, mission and He asserts the direction, inadvertent though it strategy should be held in plain sight for the may have been, eventually disenfranchised an general population to see. It’s an omission that entire generation of Tobagonians, many who demonstrates poor decision-making from both could have gone ahead and developed their own the Trinidad side and the House of Assembly ‘business’ – tourism, if infrastructure or even in equally bad parts. the political will, was there. Asked if the situation has been addressed, he shook his head again as Until then, if someone was inclined to do if to get rid of an early evening mangrove tourism related business it will be certainly be mosquito. difficult for them to over-ride their feelings that any industry in Tobago will have a hard time But Carlos Dillon isn’t the only one clamouring getting off the ground. And maybe, it cannot for effective rollout of this island’s tourism. In – at least not as long as the current style of March of 2013 during a stakeholder consultation, leadership remains the status quo.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

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Feature

Are you Irreplaceable?

By George Deyal

ou won’t last forever, even if you think you’re indestructible. Your business can continue without you, even if you think you’re irreplaceable. Your legacy as a success or failure doesn’t end with you, it continues on with your successor and likely your business does too.

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There are many situations where a successor is needed, and many ways to choose a successor. There is also just the one way to not choose one if succession planning hasn’t been important to you, even though not grooming a designated successor can lead to the downfall of the entire business.

Some people want to leave on their own accord. Others are pushed out. Some insist that they want to die at their desks, and unfortunately some do. Deciding on a succession plan depends a lot on how open you are to the idea that the business endures and the world keeps spinning, with or without you in it.

inheritances when one child works in the family business and others do not, can children achieve healthy separation from parents when they work so closely together, can a family rift cause a serious issue in the business or vice versa, and can you maintain equitable emotional relationships with all the kids instead of favouring the one working in the company?

While owners of family businesses spend their lives nurturing their business and their children, it is sometimes difficult for them to imagine that the kids might want no part of the business. Some become natural successors, some siblings squabble over who is in charge, and some drive the company to failure either because they feel a duty to do something they don’t want to do, because they need to break away from the parent-child relationship or because they’re just terrible business people.

Many believe that it is best to allow the children to follow their own passions, and take time to develop their own identity separate from the business until they feel the desire or the comfort to come back home and take over.

It is not unusual for family businesses to look outside the family for people to run or even purchase the business when the business owners want to retire. Sometimes the business is a family legacy or sometimes it is just a part of family history.

The basic steps involved in succession planning are simply to evaluate your function, look at people in your organisation who can do as well as you (or half as well if you’re that good), evaluate these people, choose a potential successor or successors to develop, find the gaps between what they know and what they need to know to do your job, and groom them for the position.

In large businesses succession planning or succession development as it’s also popularly The most basic and highly successful form of referred to these days, is more of a formal succession planning is simply human activity. It is an institutionalised process that procreation. The next generation takes over is not just about finding a replacement for a from the first. If you have a family business CEO but about selecting and developing the it’s natural for your children to be a part of it, people in the next two layers of jobs below. to have grown up in it and to be expected to Succession development is more about the take over one day. pipeline of employees rather than just the one being groomed to take over at the top.

With family businesses questions arise with Indeed, the CEO hardly gets to choose his succession planning in terms of which child successor anymore, more often the Board is should take over, how do you fairly distribute involved in the process to add objectivity to

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

the choice on behalf of the future success of the company. The company’s focus in succession planning is to develop the ‘bench strength’ of the organisation, the substitutes who would come into the game to replace the starters when needed. Things can go wrong with succession planning of course; it doesn’t always work out as planned.

There are leaders who refuse to leave, transitions that take place too soon, attempted power grabs by the chosen ones, choices of a weaker successor to keep strong challengers to your job at bay, dismal failure by the successor, and crises that cause the former leader to come back when the successor doesn’t yet have the experience to handle the situation.

There are leaders who don’t choose successors and are simply blindsided by changing times, generation gaps, and their own egos and tunnel vision of success, or of course their own demise. All of these can lead to the demise of the business as well.

Planning for succession is something a lot of business people always intend to get around to but sometimes never do. However it is a critical success factor in assessing the job you’re doing for your organisation and whether or not you truly have the company’s best interest at heart.

A person’s legacy in business isn’t just about their individual achievements, but also about the preparations they have made to put the business on the path with the greatest possibility of success.

It is a short-sighted statement of selfimportance to think that the business couldn’t survive without you since those boasts ultimately becomes self-fulfilling prophecy.

Sustainable success has to last longer than you do.

30

Feature

T&T’s Golden Age of Charismatic Leaders e was as scholarly as he was political, commanding audiences' attention in both spheres in equal measure.

The intellectual in Dr Eric Eustace Williams drove his deep-seated ambition to release this country from British colonial rule.

Williams, who became this country's first Prime Minister in 1956 and stayed there until his death in 1981, saw politics as an powerful tool to engineer change. His achievements were nothing short of meteoric. Williams, a student of Queen's Royal College, won an island scholarship to Oxford University in the United Kingdom, where in 1935 he earned first-class honours for his Bachelor of Arts in history, and was ranked in first place among University of Oxford students graduating in history in that year.

H

Williams documented in his autobiography, “Inward Hunger” his experience with racism while in the United Kingdom. For instance, he recounts that in the period following his graduation, "I was severely handicapped in my research by my lack of money.... I was turned down everywhere I tried ... and could not ignore the racial factor involved".

He would go on to announce his intention to enter politics in a famous speech in Woodford Square, Port-of-Spain, which was surrounded by the courts and the Red House. He rechristened the red-fenced-and-spiked park The University of Woodford Square. He’d later give a series of public lectures on world history, Greek democracy and philosophy, the history of slavery, and the history of the Caribbean to large audiences drawn from every social class.

His name for the square has stuck to this day.

It's in the square’s Victorian-styled bandstand that he launched the political party, the People's National Movement (PNM), in 1955, and won the 1956 general election. The PNM would go on to hold the reins of power for 30 consecutive years. T&T celebrated its 50th Independence anniversary in 2012, a fact that cannot be stated

without acknowledging that it was Dr Eric bid to run for Parliament as a candidate for Williams who led us to independence from the Workers and Farmers Party. His most Britain in 1962. prominent debut into local politics was as early as 1973, when he forayed into the politics In his famous speech observing that historical of the Trinidad Islandwide Cane Farmers' occasion, he said: “Democracy means more, Association (TICFA). He faced opposition much more, than the right to vote, and one from then leader of the Sanatan Dharma Maha vote for every man, and every woman of the Sabha, Bhadase Sagan Maraj and the leader prescribed age. Democracy means recognition of the Union, Rampartap Singh, who had of the rights of others…This is what I meant succeeded Maraj. These were the favourites when I gave the nation as its slogan for all of the then Prime Minister, Eric Williams, for time, discipline, production, tolerance.” he was concerned about the "left-wing Where Williams used his scholastic and radicalisation" of the union membership. political achievements to rally a nation, Basdeo Panday made his name in the labour It was in this context that Panday came to the movement, fighting for the rights of T&T’s fore. Panday was able, through backdoor sugar workers in the early 1970s. negotiations with the then union leader of History tells us that Panday was educated at TICFA, and subsequently with Eric Williams Presentation College and studied law at concerning the wages and salaries of sugarcane Lincoln’s Inn in the United Kingdom. He workers, to claim control over the union as also studied economics at the Univesity of the undisputed leader of TICFA. In May 1973, London. He returned home to join the he became the president General of All Workers and Farmers Party to represent sugar Trinidad Sugar and General Workers' Trade workers’ rights for better pay and working Union. conditions.

Exploiting the fractural divisiveness that In the early 1970s, sugar workers were among existed within the then opposition of the lowest paid in T&T, working under the Democratic Labour Party, Panday formed conditions akin to slavery for the British- an alliance with other union members, owned Tate and Lyle Sugar Company. Under Weekes and Shah. The three formed Panday’s leadership, workers won a 300 the United Labour Front, and in 1981–1986, percent wage increase. Years later, many he was the Opposition Leader. former sugar workers had framed photos of Panday above their front door, so revered He co-founded the National Alliance was he. (with ANR Robinson, political leader of the Democratic Action Congress and Lloyd In March 1975 there was labour unrest when Best of the Tapia House Group), to fight the the major unions led by Panday, George 1981 elections, and later co-founded Weekes and Raffique Shah, representing the National Alliance for Reconstruction with sugar and oil workers, marched in San Robinson and Karl Hudson-Phillips. Following Fernando and were met by brutal police a convincing electoral victory in 1986, he was resistance. This became known as "Bloody made Minister of External Affairs and Tuesday". He spent two weeks at the Golden International Trade. In 1988, Panday, along Grove Prison for leading an illegal march w i t h K e l v i n Ramnath, John with trade unionists. On returning to Trinidad, Humphrey and Trevor Sudama, were expelled Panday entered politics and failed in his 1966 from the party after a disagreement with

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Feature Robinson, claiming Robinson was authoritarian. He founded the Club for Love, Unity and Brotherhood (CLUB 88), which became the United National Congress. In 1992 their candidates won more seats in that year's election than the then NAR. On such a basis, the members of what was to become the UNC, argued this in Parliament to become the Opposition. The party only won 13 of 36 seats nationally. It improved this margin to 17 in the 1995 general election. It could not form the majority in Parliament to form the Cabinet, so, with the support of the two seats held by Robinson and the NAR, Panday was appointed the country's first Indo-Trinidadian Prime Minister. Robinson became President.

Williams led T&T to independence.

Panday fought for sugar workers’ dignity.

Bhadase Sagan Maraj built a Hindu organization through which illiterate Hindus were educated. Maraj, who died in 1971, was a politician, religious leader and businessman.

He founded the Sanatan Dharma Maha Sabha in 1952, which grew into the major Hindu organisation in T&T. Maraj, born in the tiny village of Caroni, had a strong

desire to take his family out of the poverty, deprivation and degradation that had been their lot ever since his father stepped off an indentured labourers' boat. Before he could help the Hindus, Maraj himself had to be strong enough. He was a violent man who used violent methods to achieve his wealth and social status. Maraj earned his first million dollars by digging sand for construction in the Caroni River. It was quite a thing to see this strapping young six-footer with a long bamboo pole pushing his flat-bottomed boat up the Caroni River. He was not yet 30. Soon the young Maraj bought a truck and was in the transport business. World War II and the arrival of the American armed forces to T&T placed Maraj into the big league.

He was one of the biggest contractors on the American naval base at Chaguaramas, and when the order came for the Americans to pull out their task force from this country, Maraj was able to buy out large areas of the base that were being deactivated. As a millionaire, Maraj now had the means to fight for Hindus.

When he was elected to Parliament in 1950, the Maha Sabha did not exist.Neither did

Hindu schools, and illiteracy among Hindus was about 50 percent.

In early 1952, the Maha Sabha was formed and was given permission to build and operate their own schools. Maraj declared, "By September, we will have six schools." Cynics laughed, but Maraj kept his word. September saw the establishment of six Hindu Schools.

Hindu schools were mushrooming everywhere. To those who said Maraj was building cowsheds which were unhealthy and physically unfit for children to be educated, he declared, "It is better to have a child receive an education in a cowshed than none at all".

He was elected to the Legislative Council in 1950, founded the People's Democratic Party, and later merged it into the Democratic Labour Party, which he led between 1958 and 1960 (when he lost control of the party to Rudranath Capildeo). Maraj continued to be active in politics until his death, often opposing Capildeo and other members of the DLP. After Capildeo's Chaguanas seat was declared vacant in 1967, Maraj won the seat in a byelection boycotted by the DLP. Contact • Vol.14 No.1 2014

31

32

Feature

Leading in the Information Age

By Atiba Phillips, Principal Consultant, INFOCOMM Technologies Ltd.

ver the last 30 years the world has seen one of the most significant shifts in human history - the shift from the industrial to the information economy. Like the shifts before it – from feudal to mercantilist, and from mercantilist to industrial – this latest shift has brought with it a sea change in terms of access to knowledge and information, in terms of what is valued as capital, how economic activity is structured and has impacted the basis of competition between nations.

O

This global information and knowledge society has been driven by the democratisation of the internet and the proliferation of computers, the “Cloud” and mobile telephony. These developments have profoundly changed how we conduct almost every activity in our daily social and business activities. Equally notable has been the steady decrease in the cost of computer hardware, mobile communication devices and broadband connectivity, not only for government and big business, but more importantly for Small & Medium Enterprises (SMEs) and individuals. The result has been a paradigm shift in the way that communication between entities (individuals, businesses, governments) occurs and in the manner in which information is disseminated, accessed, manipulated and consumed. This shift has even a profound impact on social culture and introduced a multitude of new terms to the technology, management and business jargon, both in the academic and casual usages.

However, many leaders of public and private sector institutions, from middle management to top level executives, are not fully aware of the strategic opportunities that the current ICT paradigm presents. New ICT-enabled frameworks allow for the re-thinking of the b o r d e r s o f t h e o rg a n i z a t i o n , t h e revolutionisation of business models (think

Kodak vs. Flickr – when last did you go to a store to print a photo?) and the opportunity to effect multiple simultaneous transactions efficiently.

strongly opine. The vicissitudes of the political process and generally short timeframe in office has lead politically motivated leaders to shy away from taking decisions which have long term implications or impacts which cannot be When persons in consequential leadership seen within the political timeframe. positions do not possess a deep understanding of the technology, or an ability to clearly And so we collectively agree that no one is communicate how the technology going to decide; to lead. In so doing, we developments can enable the achievement of collectively make a very definitive decision organizational goals or a national vision, to court disaster. This cycle must be broken. sustainable development is put at risk.

The time is now, while we have not yet had As a case in point, let us look at the issue of such eventualities to face, for business and natural disasters. The Caribbean knows well national leaders to really think deeply about the cost of natural disasters, and the years, the priorities for the current and future sometimes generations that it takes to recover development of our economies and about the fully from an event (think of the volcano competencies and assets that we must nurture eruption in Montserrat). Imagine the scale of as a people. We must be led by leaders who the issue should there be an “internet disaster”. have applied themselves to understanding the What systems would we start to try to put in times and can proactively lead our captains place at that time when, (for e.g.) an external of industry and the state sector to think about… service provider – say Google or the Florida- “what if”? We must begin to understand what based Network Access Point (NAP of the are the costs of action and the consequences Americas) - denies service (due to say a of in-action. Leaders must demand that we natural disaster in the US); and a Regional strategize a proactive response and eventually Prime Minister is then unable to communicate build capacity to turn these threats into with his / her Attorney General? opportunities for growth in the national and Regional interest.

If we as nations, put our children on ICT learning platforms, but have no say into the This requirement is squarely in the lap of platform (i.e. no meaningful understanding leaders, because such issues are not ICT of the architecture of the internet on which problems. They are not challenges only for the platform is based, and further no the disaster risk management professionals. ownership stake at the state level of this basic These are sustainable development issues infrastructure) - then we court disaster. What which require a bold and informed kind of if the platform, through no fault or action of leadership to squarely address. ours becomes unavailable? How do we begin at that point to think about starting to find a Business Sustainability solution or an alternative?

We must recognize too that transnational undersea fiber cables represent market access ICT managers do not believe it within their highways which make it as easy for a domestic purview to make those kinds of decisions. consumer to purchase product from a North Disaster professionals do not feel they know American or UK firm as it is for that same enough about the strategic ICTs matters to consumer to purchase product from the

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Feature physical retail outlet around the corner. This means that there is a leak of financial resources out of our economies, particularly to firms who do not support our financial system through taxation, corporate social responsibility (CSR) initiatives or employment.

will technical connectivity of its islands and economies play in the vision it has for itself moving forward. What role will interconnectivity play in facilitating functional CARICOM integration? What role will it play in helping islands coordinate relief efforts post natural disasters? What role is there for technology and communication connectivity in enhancing intra-regional trade? What role will it play in helping to promote Caribbean cultural products (music, dance, literature and design) abroad?

Domestic businesses, on-the other hand, have not (by and large) taken up the internet challenge to make their goods and services available on-line. This places the domestic private sector at a significant disadvantage in the global competitive landscape and skews the benefits of technology development to Fully understanding the impact of the global extra-Regional, more established, non- change from the industrial society to the information society will require leaders to domestic players. take the time to learn of the implications, opportunities and threats. It will require The Regional Mandate The Region needs to introspect and determine, dedicated State ICT institutions that have from an informed state, what position and role greater permanence and are less subject to

the political vicissitudes of the day. It will also require a concerted and collaborative effort among telecommunications companies, banks, civil society (including international groups such as ICANN), traditional businesses as well as governments to make the change.

Innovative startups which bring to bear customized applications and platforms which encourage intra-Regional exchange also have the potential to make a significant contribution.

Finally this will take a significant dose of political will. It will require at least one nation in the Region to lead the way and define and implement pro-ICT policies at the business and state levels which the other nations can follow.

Leaders wanted.

Contact • Vol.14 No.1 2014

33

34

Feature

What every business person should know • The Planning and Facilitation of Development Bill 2013 A Special Select Committee has been appointed by the Senate of the Parliament of Trinidad and Tobago to consider and report on a Bill entitled: “An Act relating to the planning and development of land and to repeal and replace the Town and Country Planning Act, Chap. 35:01”.

The Bill proposes to, inter alia, repeal and replace the Town and Country Planning Act, Chap. 35:01, to establish a new system for the preparation and approval of development plans, and a new system for obtaining planning and development approvals.

• • Trade and Investment Convention 2014 The Trade & Investment Convention (TIC) is a Business-to-Business Forum which will take place at the Centre of Excellence in Macoya, Trinidad over July 2-5, 2014. The theme of this year’s TIC is “Creating Opportunities, Driving Growth” and will focus on this country’s innovative and robust manufacturing sector.

TIC 2014 is hosted by The Trinidad and Tobago Manufacturers’ Association and is

sponsored by the Ministry of Trade, Industry and Investment, Telecommunications Services of Trinidad & Tobago and First Citizens. The convention will bring together manufacturers, service providers, buyers, distributors, financial institutions, investors and regulatory agencies responsible for trade.

For further information please contact the TIC Secretariat at 1-868-675-8862.

Alternatively you may contact the Secretariat via ticsales@ttma.com or ticbuyers@ttma.com .

Expo Jamaica 2014 JAMPRO, the Government of Jamaica’s trade and investment promotion agency, in collaboration with the Jamaica Manufacturers’ Association (JMA) and the Jamaica Exporters’ Association (JEA) is visitors to Expo Jamaica April 3 –6, 2014 at the National Arena, Kingston.

Two hundred Jamaican companies, showcasing over 2000 products will be represented, encompassing the product categories: Food and Beverage, Chemicals, Cosmetics, Pharmaceuticals, Electronics,

Electrical & Automotive, Fashion, Furniture and Bedding, Information, Technology and Communication, Art and Craft, Jewellery, Minerals and Metal, Printing, Packaging and Labelling, Textile and Apparel along with Financial and Business Services.

Buyers from all countries are invited to participate and registration is free to them.

All buyers will be facilitated by JAMPRO in the Buyer Hosting Programme.

Registration and further details on Expo Jamaica are available on the expo website www.expojamaica.com.jm, you may also follow on twitter at www.twitter.com/ expojamaica , become a fan on facebook at www.facebook.com/expojamaica or connect through LinkedIn at http://www.linkedin.com/company/3214 325.

Should there be any queries you may contact JAMPRO’s Buyer Recruitment Coordinator, Ms. Janene Hibbert at jhibbert@jamprocorp.com or tel. number (876) 978-7755 ext. 2067.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

SERVING THE CARIBBEAN

An Approved Mediation Agency registered with the Mediation Board of Trinidad & Tobago

The Provider of Choice for Professional Mediation & Arbitration Services: Corporate, Commercial, Construction, Engineering, Medical Negligence, Personal Injury, Intellectual Property, Human& Industrial Relations, Insurance, Debt Recovery, Sport, Land, Estate & Family Business Disputes

For more information contact: THE DISPUTE RESOLUTION CENTRE, Ground Floor, Trinidad and Tobago Chamber of Industry and Commerce Building, Columbus Circle, Westmoorings.

Tel: (868) 632 4051 or 637 6966 Fax: (868) 632 4046 or 637 7425 E-mail: drc@chamber.org.tt

Feature

The Boissiere House

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ocated at 12 Queens Park West, Port of Spain, the Boissiere House was the first Grand City Home on the western edge of “Paradise Park” (Queens P ark Savannah) was built during the time of the Arts and Crafts Movement in Architecture. The building also has Victorian traditional detailing, an abundance of intricate

Courtesy Citizens for Conservation

fretwork and a unique roofline of gables, turrets and dormers. It is this lace-like detailing that has lead to it being affectionately known as “The Gingerbread house”. Because of this mix of styles and influences the building represents architecture that is truly Trinidadian, reflecting our unique mixed heritage. It holds both architectural and

historic value for all Trinidadians and Tobagonians and is considered an important Cultural Heritage site.

The House was constructed in 1904 and was designed for Charles Ernest Boissiere by Architect Edward Bowen who was a close friend of the family. Charles was a descendent of the De Boissiere family and a prominent businessman.

The house was recently purchased by Junior Sammy and his family. It is being sensitively rehabilitated with no change to the original design of the House.

Contact • Vol.14 No.1 2014

35

Finance & Economy

36

Right Fit for the Moderate Investor very investor is unique, often facing varied circumstances and financial situations. Even with such a high degree of individuality, we all exhibit some collection of characteristics that make us common to each other. In this way, investors typically fall into one of three broad risk/return profiles – Conservative, Moderate or Aggressive. This article takes the middle ground, so to speak, focusing on the Moderate investor and a portfolio mix well-suited for this investor type.

E

In brief, we can define different investor types as follows:

we look at the other factors behind this type of portfolio allocation. The time horizon for this investor varies, but generally falls within a range of 10 to 20 years. A longer investing time span allows the investor and his portfolio to bear higher levels of capital fluctuation, with there being more ‘recovery time’ for the portfolio’s investments.

The tolerance for risk is higher than the Conservative investor. For example, the Moderate investor may be comfortable with a 10% short-term drop in the value of his assets, knowing that the investment time horizon is sufficiently long for potential recovery. Personal investment experience determines which types of asset classes the client may be comfortable with holding in his portfolio.

The Conservative/Risk-Averse Investor This investor’s main investment objective is preservation of capital and generation of income, with limited focus on capital appreciation.

Less experience in investing typically leads clients to be comfortable with more popular The Moderate Investor/ Risk-Neutral classes of assets such as equities and bonds, Investor whereas more sophisticated investors are This investor is prepared to generate moderate willing to include commodity and alternative returns with a reasonable level of risk, investments in their portfolios. The moderate focusing more on capital appreciation but investor tends to stick more closely to equities also income generation. and bonds, with a higher allocation toward equities.

The Aggressive Investor/ Risk-Tolerant This investor is willing to take a high level Finally, the overall financial situation of the of risk. The focus for this investor class is moderate investor is also quite varied. One almost exclusively capital appreciation, with common theme across all moderate investors the willingness to take concentrated portfolio however, is that their investment portfolios positions to achieve this objective. can be left invested for a reasonably long period with generally predictable cash flows When choosing how to invest, you should and without significant capital withdrawals. always consider five (5) factors, namely your In other words, the moderate investor does investment objectives, investing time horizon, not rely exclusively on the investment tolerance for risk, personal investment portfolio for meeting living expenses and experience and overall financial situation. other financial commitment.

Having taken all of this into account, you should now be in a better position to determine If you fit this profile, read on… the types of investments best suited for your specific goals and objectives.

The Moderate Portfolio As part of our investment themes for 2014, Profile of the Moderate Investor we proposed the following guidelines as seen Having described broadly the investment in Table 1 given local market conditions and objectives of the Moderate investor above, the international outlook.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

TABLE 1 2014: Bourse’s Themes for the Trinidad and Tobago Investor 1. Target Positive Inflation Adjusted Returns 2. Lengthen your Investment Horizon 3. Diversify across Currencies 4. Diversify across Asset Classes We present our perspective on what a ‘typical’ asset allocation for a moderate portfolio could look like in Exhibit 1. This allocation is appropriate for investors willing to accept modest risk to gain higher long-term returns.

The asset allocation in the moderate portfolio reflects a tempered risk appetite for the reasons mentioned earlier. The suggested portfolio mix for the moderate investor typically maintains a balanced asset allocation to preserve capital while generating long-term capital appreciation. In this portfolio, 45% is allocated to bonds, 50% to equities and 5% in cash. The fixed income investments offer a predictable investment stream while preserving capital. For the equities allocation, the investor can take on more risk by investing in growth stocks to benefit from both dividend income and capital appreciation.

Exposure to USD will assist in protecting against depreciation of the TTD and help to generate higher returns as yields on the local market remain depressed. As seen in the moderate portfolio, USD investments speak to 50% of the portfolio. A model portfolio was constructed to reflect the returns an investor would experience if invested in a moderate portfolio. This was based on key local and international indices which were selected based on meeting the specific

Finance & Economy performance, volatility and correlation objectives of a moderate investor.

Based on the returns of indices selected, if TT$100,000 was invested at the start of 2009, those funds would have grown by 61.8% by the end of 2013 to reach a total of $161,839.94.

Clearly, given local market conditions, it makes eminent sense to expand your investment time horizons to reap beneficial returns as seen in Exhibit 2.

CHALLENGES Investors may not have the time and/or the necessary knowledge to manage their investment portfolio efficiently and effectively.

One of the main challenges to realising your portfolio is access to currency and stock selection. When looking for someone to assist, look for a reputable and long standing investment house such as Bourse, who will be

37

able to execute on the local, regional and affiliates have or may have specific or potential international fronts on your behalf. conflicts of interest in respect of the security or the issuer of the security, including those As illustrated above, the model portfolio would arising from (i) trading or dealing in certain have outperformed any savings account or securities and acting as an investment advisor; fixed income product available over the time (ii) holding of securities of the issuer as period. It is worthwhile noting that results beneficial owner; (iii) having benefitted, typically vary in uncertain investing benefitting or to benefit from compensation environments. However, Moderate investor’s arrangements; (iv) acting as underwriter in investment time horizon is usually sufficiently any distribution of securities of the issuer in long to navigate periods of unfavourable the three years immediately preceding this investment cycles. The key to a successful document; or (v) having direct or indirect portfolio, then, is asset allocation, security financial or other interest in the security or selection and diversification. the issuer of the security. Investors are advised accordingly. Neither Bourse nor any of its For more information on these and other subsidiaries, affiliates directors, officers, investment themes, please contact Bourse employees, representatives or agents, accepts Securities Limited, at 628-9100, email us at any liability whatsoever for any direct, indirect Research@boursefinancial.com or visit us at or consequential losses arising from the use any one of our three offices located in Port- of this document or its contents or reliance of-Spain, Chaguanas and San Fernando. on the information contained herein. Bourse Investors can also visit our website at does not guarantee the accuracy or www.bourseinvestment.com or Bourse completeness of the information in this Securities Limited Facebook page. document, which may have been obtained This document has been prepared by Bourse from or is based upon trade and statistical Securities Limited, (“Bourse”), for information services or other third party sources. The purposes only. Any trade in securities information in this document is not intended recommended herein is done subject to the to predict actual results and no assurances are fact that Bourse, its subsidiaries and/or given with respect thereto.

Contact • Vol.14 No.1 2014

40

Finance & Economy

Economic and Financial Statistics Trinidad and Tobago Table 1: Real GDP Growth Rates INDICATOR

Year on Year Per cent Change QIII- 13p

QII- 13

QI-13

QIV-12

QIII-12

QII-12

TOTAL

-0.5

2.3

2.3

1.1

1.6

-2.8

Energy GDP

-4.1

1.8

0.5

0.0

0.6

-7.3

Petrochemicals

-8.0

-9.3

-2.6

-7.5

-6.4

-5.3

Other Petroleum

-3.6

3.3

0.9

0.9

1.5

-7.5

Non Energy GDP

1.9

2.6

3.6

1.9

2.3

0.6

Construction

3.0

3.5

3.0

2.3

1.3

-3.5 -4.2

Manufacturing

-0.0

4.6

2.9

0.7

0.9

Distribution

1.5

2.2

0.5

4.6

2.0

2.1

Agriculture

1.9

2.0

3.5

1.9

1.1

-9.4

Source: Summary of Economic Indicators September 2013, Central Bank of Trinidad and Tobago

P: Preliminary Estimates

Table 2:Labour Market Percent Change From Labour Force (‘000s of persons)

Latest Period

Latest Value

Previous Quarter

Previous 6 months

Non Institutional Population

QIII-12

1,017.9

0.3

0.8

Previous Year 1.1

Labour Force

QIII-12

631.5

0.7

1.3

3.6

Employment

QIII-12

600.9

0.7

1.9

4.0

Petroleum

QIII-12

20.9

0.0

-4.6

2.0

Manufacturing

QIII-12

50.2

8.4

7.7

2.7

Agriculture

QIII-12

23.9

22.6

7.7

11.7

Construction

QIII-12

99.0

-1.6

-0.5

0.6

Services

QIII-12

405.1

-0.5

1.6

4.5

Source: Summary of Economic Indicators September 2013, Central Bank of Trinidad and Tobago

Regional Indicators Real GDP

Year-on-Year Per cent Change QIII-13

QII-13

QI-13

QIV-12

QIII-12

QII-12

Barbados

ND

-0.7

-0.4

-0.2

-0.8

-1.3

Jamaica

ND

-0.1

-1.3

-1.2

-0.3

-0.1

Caribbean

Source: Central Bank of Trinidad and Tobago, Central Bank of Barbados, Statistical Institute of Jamaica

International Indicators Year-on-Year Per cent Change QIII-13

QII-13

QI-13

QIV-12

QIII-12

QII-12

Brazil

2.2

3.3

1.8

1.8

0.9

0.6

India

4.8

4.4

4.8

4.5

5.3

5.5

China

7.8

7.5

7.7

7.9

7.4

7.6

Sourced from Bloomberg by Central Bank of Trinidad and Tobago

Table 2: 2013 Index of Economic Freedom World Rankings WORLD RANK

COUNTRY

OVERALL SCORE

PROPERTY RIGHTS

FREEDOM FROM

GOVERNMENT

BUSINESS

INVESTMENT

CORRUPTION

SPENDING

FREEDOM

FREEDOM

1

Hong Kong

89.3

90.0

84.0

88.9

98.9

90.0

2

Singapore

88.0

90.0

92.0

91.3

97.1

75.0

3

Australia

82.6

90.0

88.0

62.8

95.5

80.0

4

New Zealand

81.4

95.0

95.0

33.2

99.9

80.0

5

Switzerland

81.0

90.0

88.0

63.8

75.8

80.0

6

Canada

79.4

90.0

87.0

44.8

91.7

75.0

7

Chile

79.0

90.0

72.0

83.7

70.5

85.0

8

Mauritius

76.9

70.0

51.0

81.9

78.2

90.0

9

Denmark

76.1

90.0

94.0

5.9

98.4

85.0

10

United States

76.0

85.0

71.0

47.8

90.5

70.0

Source - Index of Economic Freedom www.heritage.org Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

42

Finance & Economy

Economic Outlook Inflation Core inflation reduced from 2.9 per cent in September to 1.9 per cent in October 2013 and is expected to remain stable for the rest of the year. Food inflation rose slightly to 3.7 per cent in October 2013 from 3.0 per cent in September 2013. In the twelve months to October 2013, headline inflation decelerated to 2.7 per cent from 3.0 per cent in September and 5.1 per cent in August 2013.

Monetary Policy Liquidity levels in the banking system remain high and business lending contracted for the tenth consecutive month in September 2013. The Central Bank continues to maintain the “Repo” rate at 2.75 percent.

Consumer lending increased by almost 6.0 per cent in September 2013, slightly lower than the 6.3 per cent growth posted in the previous month but up from 2.3 per cent at the end of 2012.

Business lending, fell by 3.7% in September 2013 compared with a decline of 5.8 per cent in August 2013 and growth of 1.0 per cent a year earlier. A sectoral examination of commercial banks’ business loans showed contractions in lending to the finance, manufacturing and petroleum sectors.

Energy Sector Performance Large scale maintenance activity in the natural gas and downstream industries in September resulted in a sharp contraction of just over 4.0 per cent (year-on-year) in energy sector activity in the third quarter of 2013. The fall-off in natural gas production impacted the entire energy sector, with the production and exploration, and refining sub-industries contracting by 5.0 per cent and 2.3 per cent, respectively. With the majority of the maintenance work completed production in the energy sector is expected to return to more normal levels in 2014.

Source: Central Bank of Trinidad and Tobago

The Chamber’s “CONTACT with the Chamber” radio series The Chamber's "CONTACT with the Chamber" radio series is a five minute programme which airs every Tuesday at 7:25a.m. on the I95.5FM morning show. This programme is voiced by the CEO of the Chamber, Catherine Kumar and is one of the means by which the Chamber communicates with members and the public at large. The series focuses on business-oriented subjects, social responsibility and other issues affecting our country.

views on matters affecting our community.

They are: Pharmaco Limited for January and February, and Columbus Business Solutions for March 2014.

We also open our doors to all members interested in coming on board as short-term sponsors of “CONTACT with the Chamber”, for packages of one, two or three months.

Sponsorship is at a cost of TT $900.00 per programme. Your organization will be credited on I95.5FM and recognized through The Chamber wishes to thank the most recent other communications produced by the sponsors of its programme which have made Chamber. it possible for us to continue expressing our

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

For more information on sponsorship and branding opportunities please contact: Malika Rouff, Members Communications and PR Officer, Trinidad and Tobago Chamber of Industry and Commerce Columbus Circle Westmoorings P.O Box 499 Port of Spain.

Tel: (868) 637-6966 Ext. 289 Fax: (868) 637-7425 Email: mrouff@chamber.org.tt Website: www.chamber.org.tt

Finance & Economy

43

Year end 2013 review Local Market Summary The local equity market for the year ended December 31, 2013 (YE13) saw both the Composite and All Trinidad and Tobago Indices post double digit gains while the Cross Listed Index closed in negative territory. The Composite Index increased 11.27 per cent or 120.07 points to end the year at 1,185.05, the All Trinidad and Tobago Index advanced 17.67 per cent or 299.45 points to 1,993.72 while the Cross Listed Index closed YE13 at 49.43, falling 12.25 per cent or 6.90 points.

In the Fourth Quarter alone (Q413), the Composite Index and All Trinidad and Tobago Index rose 3.62 per cent and 5.01 per cent respectively and the Cross Listed Index lost 2.83 per cent. Overall for 2013, there were 17 stocks advancing and 10 declining.

There was an outstanding increase in volumes traded on the First Tier Market for YE13. A total of 97,984,389 shares crossed the floor of the exchange in 2013 compared to 50,677,836 shares in 2012. This represented a notable increase of 93.35 per cent. Q413 on Q412, market activity more than doubled, up a significant 118.71 per cent from 11,106,179 shares (Q412) to 24,290,021 shares (Q413).

When compared to the previous quarter (Q313), volumes traded declined 26.73 per cent from 33,149,828 shares. The value of shares traded increased 48.04 per cent from $746,604,401.68 in YE12 to $1,105,243,367.06 in YE13.

Trinidad Cement Limited (TCL) was the volume leader with 28.89 per cent of the market or 28,307,308 shares traded. This was followed by Jamaica Money Market Brokers Limited (JMMB) with 16.26 per cent of the

total volume traded or 15,933,570 shares changing hands. Next was Sagicor Financial Corporation (SFC) which accounted for 11.41 per cent of all trades with 11,184,882 shares traded.

at $0.65. The third major decline was Guardian Holdings Limited (GHL), which fell 24.32 per cent or $4.50 to $14.00.

Dividend Payments

On the TTD Mutual Fund Market, a notable 24,326,842 CLICO Investment Fund (CIF) shares traded in YE13 valued at $531,482,831.40. The share price closed YE13 at $21.99. In addition, 109,215 Praetorian Property Mutual Fund (PPMF) shares traded with a value of $399,275.90.

PPMF’s share price declined 22.83 per cent or $1.05 in YE13 to close at $3.55.

The top gainer for YE13 was First Citizens Bank Limited (FIRST), up a noteworthy 82.95 per cent or $18.25 to close at $40.25.

The second major advance was National Flour Mills Limited (NFM), rising a commendable 58.33 per cent or $0.35 to $0.95. TCL was next, registering a 47.65 per Highlights for the Fourth Quarter of 2013 cent gain or $0.71 to end the year at $2.20.

December 2013 • Sagicor Financial Corporation (“Sagicor” or “the Company”) announced that the Company received approval from the regulatory authorities in the United Kingdom and the Cayman Islands to sell Sagicor Europe Limited (''SEL'') and its subsidiaries, which include Sagicor at Lloyd’s Limited (SAL), to a wholly-owned subsidiary of AmTrust Financial Services, Inc. SAL is the managing agent of Lloyd’s property/casualty insurance syndicate 1206, with stamp capacity of £200 million, and life insurance syndicate 44, with stamp capacity of £7 million. SEL is a Cayman Islands-domiciled holding company, and the sale also includes a reinsurance entity and two Lloyd's corporate members. The transaction will provide cash proceeds of £86 million to Sagicor, which consists of £56 million purchase price and the release of £30 million, which supported a Letter of Credit.

For YE13, Scotia Investments Jamaica Limited (SIJL) led the declines, down 34.78 • Mr. Arthur Lok Jack, Group Chairman of Guardian Holdings Limited (GHL) per cent or $0.80 to $1.50. This was followed confirmed that it has voluntarily applied to

by L.J. Williams ‘B’ Limited (LJWB) with the Jamaica Stock Exchange (JSE) to have a decline of 26.97 per cent or $0.24 to close Contact • Vol.14 No.1 2014

44

Finance & Economy

its shares delisted from the JSE pursuant to Rule 411B. The JSE in turn has approved GHL’s request. The action by GHL was reached after it undertook a thorough analysis of the costs and benefits of maintaining its dual listing on the Trinidad and Tobago Stock Exchange (TTSE) and the JSE. This analysis revealed that, trading activity on the JSE represents less than 1.5% of the overall trading activity in GHL shares.

As a result of this voluntary move, GHL closed its register on December 24, 2013 and its shares were delisted on December 31, 2013. Thereafter, Jamaican investors can continue to trade GHL shares through the Trinidad and Tobago Stock Exchange, where its shares will trade as normal.

• FirstCaribbean International Bank Limited informed the Stock Exchange that on December 13, 2013, the Board of Directors appointed independent director Mr. David Ritch OBE, JP as Chairman of the Board.

Mr. Ritch has been a director since 2002.

• Mr. Arthur Lok Jack, Chairman, Guardian Holdings Limited (GHL) announced the promotion of Mr. Ravi Tewari to the position of Group Chief Executive Officer effective January 1, 2014. He will replace Mr. Jeffery Mack who retired on December 31, 2013.

Fixed Income Market Summary According to the January 2014 Monetary Policy Announcement released by the Central Bank of Trinidad and Tobago (CBTT), Headline Inflation, on a year on year basis, accelerated to 5.60 per cent in December 2013, up from 4.40 per cent in November 2013. Core inflation, which excludes the impact of food prices, remained unchanged at 2.00 per cent in December 2013.

In December 2013, the yield on the 1-year Open Market Operations (OMOs) rose minimally to 0.45 per cent from 0.44 per cent in November. The Central Bank has maintained the Repo Rate, the rate at which it lends to commercial banks, at 2.75 per cent.

Key Rates

Jamaica Market Summary In Jamaica, the major benchmark, the JSE Market Index, declined 11,467.67 points or 14.22 per cent to close 2013 at 80,633.55.

Energy Prices

October 2013 • 55,817,101 Fortress Caribbean Property Fund Units (CPF) were de-listed from the Stock Exchange on Monday October 28, 2013. The de-listing order was granted pursuant to an application for de-listing made by the Exchange subsequent to the restructuring of CPF which was approved by its unit holders at a special meeting held Global Market Indices on September 26, 2013.

• Jamaica Money Market Brokers Limited informed the Stock Exchange that Jamaica Money Market Brokers Limited through Jamaica Money Market Brokers (Trinidad and Tobago) Limited (their Trinidadian holding company) has obtained 100% ownership of Intercommercial Bank Limited and Intercommercial Trust & Merchant Bank Limited (IBL Group), having concluded the transaction to acquire the remaining 50% shareholding in those entities on October 3, 2013; making it JMMB’s very first commercial bank. JMMB acquired its initial 50% holding in IBL, in 2005.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

A total of 1,388,664,255 shares traded on the Jamaica Stock Exchange in 2013, a decline of 2.99 per cent when compared to the 1,431,444,731 shares traded in the prior year.

However, Q413 on Q412, trading activity was up 82.22 per cent from 232,776,057 shares in Q412 to 424,159,488 shares in Q413.

Comparing Q413 on Q313, the volume of shares traded increased 34.15 per cent from 316,174,070 shares in Q313. The value of shares traded for the year under review totalled J$14,208,550,949.22, a decline of 22.34 per cent from 2012’s total of J$18,295,157,465.46.

The volume leader was LIME with 211,053,549 shares traded or 15.20 per cent of the market. Caribbean Cement Company Limited (CCC) was the major advance for the year, up 250.00 per cent or J$2.50 to J$3.50 followed by Hardware & Lumber (HL), which saw an increase of 79.41 per cent or J$2.70 to J$6.10. Next was Ciboney Group Limited (CBNY), advancing 66.67 per cent or J$0.02 to end the year at J$0.05. The major decline for the year was Radio Jamaica Limited (RJR), which fell 34.67 per cent or J$0.69 to J$1.30.

Seprod Limited (SEP) was next in line down 32.26 per cent or J$5.00 to J$10.50. Following was Berger Paints Limited (BRG), which registered a 31.64 per cent drop or J$0.81 to J$1.75.

46

Energy Update

Energy Outlook for T&T in 2014

By David Renwick, Energy Journalist HBM (Gold)

W

ill 2014 be “one of the busiest this his priority since his accession to office for the energy sector in over in 2011. Last available statistics show that 30 years?” average crude oil yield was 67,660 b/d in 2013 compared with 69,062 b/d in 2012. (The rest That's what Energy and Energy Affairs of liquids output is made up of condensate, Minister, Kevin Christian Ramnarine, claims the light oil that comes with the delivery of but his words will only bear fruit if all the rich gas). initiatives that should be undertaken actually come to pass.

Analysts are well aware that, though oil production has been declining, this does not That would, for example, include the 14 mean there is less oil to be found. On the exploration wells which the minister says are contrary, Trinidad (if not Tobago) is full of expected to be drilled by the eight rigs that crude resources, in the form of “left-behind” were operating in Trinidad and Tobago waters oil in existing reservoirs and crude of an at the start of the year. He did not mention it American Petroleum Institute (API) gravity but other rigs are assumed to be active on of 18 degrees or less, known as heavy oil. land as well, with state-owned integrated oil company, Petrotrin, for one, supposed to be Trinidad contains billions of barrels of both launching its own exploratory effort based on types but neither has been pursued with any the results of its 312 sq km 3D seismic shot aggressiveness over the decades. in 2011.

While development drilling for “conventional” Though no drilling will commence this year, – medium to light oil reserves proceeds in the award of the three large land blocks offered 2014, - and this should logically include by the Ministry in 2013, should help to re- development of the small oil pools for which focus attention on Trinidad's onshore province, tax incentives were awarded in the 2012-2013 likely to be the main contributor, along with national budget – greater attention needs to Trinmar in the Gulf of Paria, in helping reverse be devoted to both “left behind” crude in the calamitous decline in crude oil production existing reservoirs and heavy oil. over the last 35 years.

Both will be more costly to access, it is true, In the short-to-medium term, any production but the country can not let two potentially reversal will require more development valuable sources of crude simply go to waste, drilling, since exploratory wells, if successful, year after year. Minister Ramnarine's plan for only start to yield oil several years thereafter. a pipeline to carry CO2 emissions from the Judging by the word from Petrotrin and the Point Lisas Industrial Estate, to the oilfields host of individual operators known as the of southern Trinidad, in order to lift some of Independents, scores of such wells should be that “left behind” crude, should be speedily sunk during the course of 2014. moved forward in the course of the year.

What the effect on overall crude output will be is unpredictable. Suffice it to say that oil production has been stubbornly resistant to any increase, despite Ramnarine having made

While any additional oil will add to existing reserves, it is important to know exactly what those reserves are at the present time. The US's Netherland, Sewell and Associates was

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

hired in 2011 to update the country's proven, probable and possible reserves, as the Ryder Scott Company does every year with gas reserves. My understanding is that the Ministry did not consider its report comprehensive enough and Netherland Sewell was asked to go back and revise it. That revision must be completed, and presented to the public, this year.

The “asset integrity” work on offshore gas platforms that has affected production over the last three years, is now said to be completed and Ramnarine has predicted that 2014 “is expected to be the best year for natural gas production since 2010,” when it averaged 4,319 million cubic feet a day (mmcfd). bpTT, the main culprit in the gas shortfall will be making amends in 2014 with a major contribution from its very productive Savonette platform, which will be capable of delivering 900 mmcfd once its well 7 is completed.

Ramnarine wants crude oil output to recover as quickly as it can, not only because it means that the Petrotrin refinery will be able to receive more lower-cost domestic input but because the tax take from crude is higher than that from gas.

“From a country perspective,” he says, “we calculate at the Ministry that for every 10,000 b/d increase in oil production, we will be able to give to the Minister of Finance anywhere from TT $1.5-2 billion, which is even a conservative estimate because its based on an oil price of US $80 a barrel.” But the Minister recognises the crucial development benefit of natural gas, which has underpinned the country's highly-successful gas-based downstream heavy industrial programme over

47

Energy Update the years. It is from this perspective that the Ministry has engaged consultants to draw up a “natural gas master plan” for the use of gas reserves up to the year 2024.

So far, Trinidad and Tobago's gas has been primarily monetised through investment in industries like methanol and ammonia, in power generation and in the export of liquefied natural gas (LNG).

It will be interesting to see what the recommendations of the consultants turn out to be in relation to the expansion of the LNG industry, since that is clearly a potential growth area, perhaps more so than even domestic gas-related industry.

Even taking into account the threat the United States as a future LNG exporter could pose to Trinidad and Tobago's LNG trade, I would expect the consultants to identify the markets where this country could still be competitive, in particular the emerging Caribbean market for small and medium-sized cargoes.

The government gave the green light at the end of 2013 for the first such initiative to move forward – the proposal from the UK's Gasfin Development SA for a 500,000 tonnea-year train at La Brea, fed by around 70 mmcfd of gas.

Domestic gas aggregator, the National Gas Company. (NGC) and its industry-promoting subsidiary, National Energy Corporation, are closely involved in this ground-breaking project and it needs to be expedited as rapidly as possible in 2014.

Gas marketing, of course, has to be accompanied by gas discovery and development for the whole process to be sustainable. Most of the exploratory drilling referred to above is targeting gas but there is also a development imperative and in that category I put the gas lying cross-border between Trinidad and Tobago and Venezuela in the Manatee and Loran reservoirs, 2.7 trillion cubic feet (tcf) of it on the Trinidad and Tobago side.

two countries as one that could lend itself to “joint seismic surveys and joint exploration, if feasible.” Block 3b, adjoining 4b to the south, where Anadarko sank a well in 2008, could also be in the frame.

Suffice it to say that the Minister has declared his firm intention of wanting to “mop up all the open acreage that remains in shallow and average water.” Ramnarine can not escape having to pay special attention to State-owned crude oil/gas producer/refiner Petrotrin in The total unitised amount of gas is about 10 2014. Indeed, he has publicly said that “careful tcf and both governments have agreed to consideration has to be given to Petrotrin's develop it jointly but up to the end of 2013 future.” no operator to take charge of that process had been appointed.

Last year's oil spills for which the company has to take some responsibility, and which If it has not yet happened, that operator must caused great discomfort to the residents on be selected as soon as possible, so development the south west coast of Trinidad who were work relating to the recovery of cross border obliged to feel its deleterious effects, were gas can proceed well before the end of 2014. bad enough but the State company has several other problems on its hands. These include One of Ramnarine's achievements as Minister the losses at its refinery, its only real moneyhas been annual offerings of exploratory making activity along with its gas sales and acreage and 2014 is expected to be no different its hot-and-cold attitude to its joint venture in that regard. partners in oil-winning efforts on land, who it loves one minute but is then accused of He has already spoken of another auction of undermining the next. blocks in the shallow and average water areas around the country. The last such was in 2010, It has blamed its refinery losses on competition when his predecessor, Carolyn Seepersad- from Gulf Coast refineries that use lowerBachan, was Minister. Out of that resulted priced shale oil and have cut their processing successful bids for blocks NCMA 2 (Niko costs by utilising even cheaper shale gas but Resources and RWE Dea AG), NCMA 3 many analysts don't buy that.

(Niko Resources), NCMA 4 (Centrica Energy) and 4b (Niko Resources).

They say, it is its own refinery costs that are responsible for Petrotrin's uncompetitiveness BG International's bid for block 5d was initially but the company has not succeeded, so far, regarded as inadequate but this was resolved in reducing those to any great extent, despite after further negotiations and it was eventually the efforts of consultants Shell Global awarded the block.

Solutions.

Its significance lies not only in the fact that it will capture a whole new market for gas but will enable Trinidad and Tobago as a country to insert itself in the LNG value chain In other words, that was a very successful Trinidad and Tobago must have a refinery to for the first time (hitherto, only international block auction and it is to be hoped that a ensure energy security for its citizens. The companies operating locally have done so). similar exercise in 2014 will turn out likewise. country certainly does not want to be in the situation that faces almost every other The reason for speed in this matter is that Which pieces of acreage will be chosen for CARICOM country of constantly scanning others are also eyeing the regional market, offer this year were unknown at the time of the skyline every month, awaiting the arrival where utilities are desperately keen to reduce writing but Minister Ramnarine has hinted of a tanker-full of refined products. the cost of electricity by substituting gas for that they might include the South Marine block high-priced heavy fuel oil and diesel. off the south coast of Trinidad and, possibly, By the same token, however, it sees no reason The US is also examining the potential of the block 21, north west of Tobago right up against why that refinery can't be efficiently run and market and so is Colombia but if Trinidad the maritime boundary line with Grenada. we shall see what the Minister intends to do and Tobago can gain the first mover That block is actually mentioned by name in about that in 2014, the last full year before advantage, it should thereafter be unassailable. the framework energy agreement between the his term in office expires.

Contact • Vol.14 No.1 2014

48

Energy Update

Energy Statistics In this FIRST quarter issue of CONTACT for 2014, we continue our evaluation of the current statistical data arising from Trinidad and Tobago’s prosperous energy sector. We place special emphasis on crude oil, and natural gas production under both time-series and crosssectional circumstances.

Table E.1 – Crude Oil Production by Companies for September 2012 to November 2012 and September 2013 to November 2013 (Barrels of per day) Company

September October 2012

BG REPSOL BPTT

2012

November September October November 2012

2013

2013

Table E.3 – Natural Gas Utilization by Sector for September 2012 to November 2012 and September 2013 to November 2013 (mmscf/d) Sector

2013

562

295

991

168

644

951

11,044

11,882

10,386

12,168

13,106

11,112

Power Generation Manufacture

6,012

6,182

8,246

9,278

10,336

8,900

20,865

21,207

22,377

22,461

22,392

1,994

2,131

2,163

-

-

-

-

-

-

1,359

1,527

1,383

Refinery

EOG

2,299

2,347

516

1,638

1,667

1,499

Iron & Steel

BHP

12,353

12,206

11,793

9,859

9,754

9,406

366

451

454

369

332

382

13,697

13,523

13,762

13,326

13,255

13,457

-

-

-

652

643

578

TRINITY

514

489

590

-

-

-

BGCB

805

1,121

852

1,147

1,180

NHETT

84

96

76

77

90

BAYF TEPGL

PRIMERA PETROTRIN TEPL

July

August

June

July

August

2012

2012

2013

2013

2013

310

316

304

301

319

307

515

432

538

406

523

549

494

363

530

429

605

587

66

62

36

68

65

79

95

107

98

72

90

118 13

Ammonia

20,189

TRINMAR

June 2012

Methanol Manufacture

Manufacture Cement Manufacture

14

13

8

13

12

Ammonia Derivatives

25

21

22

15

16

19

Small Consumers

12

24

23

26

27

26

1,031

Gas Processing

27

12

11

11

10

11

86

Liquified Natural

141

136

137

108

124

128

Gas (LNG)

1,852

1,990

2,283

1,761

2,314

1,933

PETROTRIN (FO)

1,201

1,151

1,090

912

889

811

TOTAL

3,409

3,339

3,854

3,101

3,982

3,642

PETROTRIN (LO)

5,396

5,922

5,953

6,368

6,464

5,983

413

399

406

917

882

857

NMHERL

PETROTRIN (IPSC) TED

6

4

6

-

-

-

213

337

219

410

273

348

LAND SUBTOTAL

22,108

22,804

22,736

23,230

23,226

22,651

MARINE SUBTOTAL

55,179

56,733

56,111

57,910

60,411

56,568

TOTAL

77,288

79,537

78,847

81,140

83,638

79,220

MORA

Source: Ministry of Energy and Energy Industries, Vol. 49 Nos 1-12 & Vol. 50 No. 1-11

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 Vol. 50 Nos 1-11 *Figures in red are preliminary

Table E.4 - Ammonia Production for September 2012 to November 2012 and September 2013 to November 2013 (Tonnes) Company

2012

Table E.2 – Natural Gas Production by Company for September 2012 to November 2012 and September 2013 to November 2013 (mmscf/d) 2012 BPTT TRINMAR PETROTRIN

2012

November September October November 2012

2013

2013

2013

1,832

2,010

2,386

1,891

2,251

2,079

16

13

15

23

14

14

5

4

4

4

5

5

EOG

601

572

370

496

563

552

BG

779

592

928

551

952

802

BHP

442

423

410

403

385

398

33

32

35

30

27

27

3,707

3,645

4,148

3,398

4,197

3877

REPSOL TOTAL

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 Vol. 50 Nos 1-11 *Figures in red are preliminary

2012

2013

2013

2013

20,649

9,368

13,999

20,552

21,332

TRINGEN 1

23,372

26,918

33,911

32,705

35,911

35,585

TRINGEN 2

40,325

40,325

26,049

0

4,747

41,271

20,734

141,805

124,476

160,990

98,567

179,245

170,810 42,103

POINT LISAS NITROGEN

34,653

0

22,267

55,170

56,307

CNC

51,545

7,903

46,943

41,884

40,579

5,496

NITROGEN 2000

31,246

50,927

42,294

42,121

49,134

45,950

AUM-NH3 September October

2012

YARA

PCS NITROGEN

Company

September October November September October November

TOTAL

1,346

1,346

13,677

0

0

2,269

344,941

344,941

360,130

290,999

387,255

364,218

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 Vol. 50 No. 1-11

Table E.5 - Ammonia Export for September 2012 to November 2012 and September 2013 to November 2013 (Tonnes) Company

September October November September October November 2012

2012

2013

2013

2013

2013

YARA

21,001

24,675

0

9,621

11,819

TRINGEN 1

16,614

34,775

24,672

23,599

43,134

43,693

TRINGEN 2

48,950

20,223

44,559

0

20,151

18,706

115,051

84,950

170,066

116,790

89,872

120,265

NITROGEN

17,504

23,400

35,738

72,676

77,021

39,044

CNC

20,000

45,670

40,760

28,610

45,616

6,958

NITROGEN 2000

19,902

78,013

67,442

20,397

46,738

45,739

PCS NITROGEN

36,826

POINT LISAS

AUM-NH3 TOTAL

0

0

0

0

0

0

259,022

311,706

383,237

271,692

334,351

311,232

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 Vol. 50 No. 1-11 Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Energy Update

Energy Statistics Table E.6 - Methanol Production for September 2012 to November 2012 and September 2013 to November (Tonnes) Company

September October 2012

TTMC I

2012

Chart E.2 Natural Gas Production by Company (mmscf/d)

November September October November 2012

2013

2013

2013

8,092

11,780

30,104

26,752

29,379

9.004

CMC

36,403

34,528

39,071

26,964

48,805

43,754

TTMC II

46,066

39,681

37,913

43,817

43,818

42,521

MIV

45,706

16,054

43,752

46,269

52,181

49,019

TITAN

63,376

64,933

52,911

0

51,991

71,818

ATLAS

118,361

17,625

118,604

133,667

150,096

140,803

M5000

104,314

117,166

119,141

80,796

164,139

158,687

TOTAL

422,318

301,767

441,496

358,264

540,409

515,606

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 & Vol. 50 No. 1-11

Table E.7 - Methanol Exports for September 2012 to November 2012and September 2013 to November 2013 (Tonnes) Company

September October November September October November 2012

TTMC I

2012

2012

2013

2013

2013

3,711

12,569

23,471

622

0

0

209,496

201,496

226,576

189,918

213,490

256,797

5,085

0

0

26,788

23,307

40,361

0

0

0

0

0

0

TITAN

56,192

99,327

38,965

23,157

17,475

93,770

ATLAS

148,422

26,228

94,506

113,326

152,248

147,815

M5000

28,946

0

26,613

80,796

82,127

28,357

TOTAL

451,852

340,099

410,132

434,606

488,647

567,100

CMC

Chart E.3 Natural Gas Utilisation by Sector (mmscf/d)

TTMC II MIV

Source: Ministry of Energy and Energy Industries, Vol 49 No. 1-12 & Vol. 50 No. 1-11

Table E.8 - UREA Production and Exports for September 2012 to November 2012 and September 2013 to November 2013 (Tonnes)

Chart E.4 Ammonia Production (Tonnes)

PCS NITROGEN (Tonnes) PERIOD

Production

Exports

September 2012

45,112

45,994

October 2012

48,013

30,837

November 2012

33,212

30,406

September 2013

41,427

28,418

October 2013

39,870

20,033

November 2013

33,377

53,535

Source: Ministry of Energy and Energy Industries, Vol. 49 No. 1-12 & Vol. 50 No. 1-11

Chart E.1 - Crude Oil Production by Companies (barrels per day)

Chart E.5 Ammonia Export (Tonnes)

Contact • Vol.14 No.1 2014

49

50

Energy Update

Energy Statistics Chart E.6 Methanol Production (Tonnes)

Chart E.8 (a) Urea Production (Tonnes)

Chart E.7 Methanol Exports (Tonnes)

Chart E.8 (b) Urea Exports (Tonnes)

Corporate Social Responsibility The Corporate Social Responsibility (CSR) Committee was established in November 2007 as one of the Chamber’s special focus committees providing support and assistance in areas relevant to its members. The Committee’s mission is to build a platform for learning, advocacy and technical assistance that enables every business to be an active partner in creating a socially and environmentally sustainable Trinidad and Tobago.

The Committee’s mandate is to serve the learning needs of its members, as well as to provide advocacy and technical assistance using practical, realistic and adapted approaches that enable these organisations and individuals to maximise the efficiency and effectiveness with which they undertake CSR activities. This approach encompasses working not only with members, but engaging other Chambers, civil society, public sector and international organizations.

Corporate Social Responsibility is a commitment by companies to contribute to sustainable development by working with employees, their families, other organisations, communities, government, and the society at large, to improve the quality of life and the environment in ways that are good for both business and social development.

Objectives: • Learning The CSR Committee provides members and other stakeholders with access to relevant CSR related course materials to assist in developing an understanding and appreciation of CSR, both conceptually and in practice.

This enables members to better incorporate

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

CSR into their organisations and foster more responsible business practices.

• Advocacy The CSR Committee provides a forum for advocacy with key stakeholders to facilitate an enabling environment that encourages private sector investment in CSR related activities.

• Technical Assistance The CSR Committee is working with its members through outreach forums, workshops and individual meetings to assist in the implementation of CSR activities and initiatives that are strategic in nature, in line with their core business practices and focused towards sustainable development.

51

Energy Update

TTEITI Update TTEITI at crucial juncture

By Victor Hart, Chair, Trinidad and Tobago EITI Steering Committee Introduction All countries that are ‘resource rich’ are encouraged to implement the Extractive Industries Transparency Initiative (EITI). The International Monetary Fund (IMF), in its Guide on Resource Revenue Transparency, defines a resource-rich country as one in which the total average fiscal revenues, or the total average export proceeds, from the oil, gas and/or mining sectors, has been at least 25% over the previous three years. The IMF recognizes that such countries, being heavily reliant on the exports of and revenues from a small number of concentrated, volatile and non-renewable revenue streams, need to manage those revenues more carefully to avoid the economic, social and governmental distortions and corruption that have occurred in many resource-rich countries. In the case of Trinidad and Tobago, the energy sector contributes approximately 45% of GDP and 80 % of foreign exchange earnings, therefore, membership of the EITI is a given.

The EITI is a global coalition between government, extractive companies and civil society with the objective of promoting transparency and accountability by companies and governments involved in extractive industries (oil, gas and mining). It discloses to citizens the payments made by companies to government, independently reconciled with the government’s declared receipts. The checks and balances of the EITI are essential tools in ensuring that T&T maximizes its benefits from the extraction and monetizing of its natural resources.

Implementation process When the T&T government committed itself to implementing the EITI, it agreed to the following steps in accordance with the EITI Criteria and the EITI Validation Guide: (a) Sign up, (b) Preparation, (c) Disclosure, (d) Dissemination and (e) External validation.

The sign-up or candidacy step began with an unequivocal public declaration by government on 8 December 2010 of its intention to implement the EITI. It committed

to working with the other stakeholders viz. extractive companies and civil society. It established a Multi-stakeholder Steering Committee charged with overseeing the implementation process. The application for EITI membership was made on 4 February 2011 and approved with Candidate Country status on 1 March 2011.

The dissemination step involved the sharing of the EITI Report with all stakeholders. The report was widely distributed and workshops conducted to explain the published figures so that stakeholders understand the process and the findings. The Administrator was mandated to write the Report in simple language so as to ensure that the general public can easily understand the findings, conclusions and recommendations. A section providing contextual information on the structure and operation of the oil and gas sectors was also included.

The preparation step involved the Steering Committee’s engagement of government agencies, extractive companies and civil society to share knowledge about the EITI, build capacity, explain the roles of the respective stakeholders in the implementation The external validation step, which process and gain commitment. commenced on 10 January, 2014, sees the country’s implementation process being In a Memorandum Of Understanding, signed subjected to a detailed examination and on June 7, 2013, the stakeholders committed analysis by an independent Validator approved themselves to work together and agreed on by the EITI’s International Board. The aim is the definition of material payments and the to ascertain if the country is fully compliant format of the data reporting templates to be with the EITI implementation rules and thus filled out. Government and the companies qualify for promotion from Candidate Country committed to ensuring that information status to Compliant Country Status, the highest submitted was based on properly audited level of membership. If unsuccessful, a country accounts. is told what its shortcomings were and given time to put right the deficiencies.

Also, the government and the participating companies committed to removing any TTEITI’s validation obstacles to implementation that might be T&T is now at a crucial juncture in its EITI encountered. A major legal obstacle that implementation and is undergoing the government had to overcome was the Validation Test. The outcome will determine confidentiality requirements of the Income if T&T will join 25 other Compliant Countries Tax Act. The Steering Committee selected an worldwide, including Peru, currently the only independent EITI Administrator to produce one in the Americas. Three years of hard work an EITI Report on the payments reported by is being judged by the Validator and the the selected companies with the corresponding outcome is anxiously awaited. The Validation receipts reported by government for fiscal year Test is being administered by International 2011 (October 1 2010 to September 30 2011). Petroleum Associates of Norway (IPAN), a firm contracted through a Central Tenders The disclosure step required the government Board competitive process. IPAN visited T&T and the companies to complete the from 13 February 2014 and interviewed the Administrator’s Reporting Templates to share Steering Committee members and persons of data on payments received and made for the their choice from among the three stakeholder Administrator’s analysis and reconciliation if groups and examined relevant documents. discrepancies were found. The EITI Report IPAN’s Report will be submitted to the EITI published on 30 September (download at Board and T&T will be advised of its findings www.tteiti.org.tt) detailed the total payments and decision. We are keeping our fingers made by companies, disaggregated by crossed as the story of T&T’s EITI company and payment streams. implementation continues.

Contact • Vol.14 No.1 2014

52

Energy Update

Drilling Deep: Putting First Things First Good governance must follow vision o get to our destination, we have to know where we want to go. It’s a simple, straightforward statement, and a good starting point to look at the governance of our energy sector. One of the challenges to greater public participation in the sector is its complexity. The oil and gas business brings together geological science, engineering, technology, macro economics, government policy and law in an ever-evolving, sophisticated system. Even for people within the sector it is difficult to get the complete picture of its workings.

That’s why the starting point for a conversation on T&T’s energy sector should be the fundamentals. Every citizen is more than capable of asking the fundamental questions and seeking out the fundamental answers.

What do we want from our energy resources?

What approach should guide us in their use?

What kind of legacy do we want to leave for future generations? Asking and answering these basic questions are vital to the proper governance of the sector. Why? These fundamentals will be the final measuring stick against which we can assess the structures and systems that are put in place, and the results they achieve. At the dawn of our postIndependence petroleum industry these core values and aims were put in place, and for many years they served us well. But that was half a century ago.

T

As with any system, there is a very real danger that over time the energy sector has lost its clarity of focus; has become trapped in the details at the expense of the objectives; and has lost capacity and/or desire for selfassessment and self-improvement.

A simple and easily agreed upon goal for T&T’s energy sector is “maximising the value of our energy resources for the benefit of present and future generations.” Is that goal being expressed in our policies? Do we see it in when and where we choose to explore and produce? Is it reflected in the agreements we enter into and the terms of those agreements? How about in the laws we pass, the institutions we create and the regulations

we put in place? What about in the use we make of the revenues generated from the industry? What about the results we achieve?

Governance should be a laser-like expression of our fundamental objectives. And if that is not the case then either the governance structure or objectives themselves must be reexamined.

From policy to delivery So what is a proper system of governance? It is a system in which a clear, consistent path runs all the way from vision to policy to oversight, all the way to delivery of desired objectives. It Includes: Vision – what we want to achieve Policy – the “big picture” principles by which all participants orient themselves to meet our objectives Legislation/regulations – the laws we put in place and the regulations we develop for implementing agencies to ensure that we adhere to the policies Strategy – the decision making process that allows us to select from a range of options, making trade-offs in a cohesive manner Plans – an organised approach to implementing the strategy, including “master plans” and subordinate programmes, individual projects and ongoing operations

By Anthony E Paul

In T&T we do have elements of this type of governance structure in place. At the national level there are several oversight entities, including the President, the Judiciary, Parliament, the Auditor General, Ministries, Agencies and Cabinet. In practice however, policy is almost exclusively in the hands of Cabinet, which operates relatively free from interference and is not subject to a robust system of monitoring and feedback.

This is not to say that some measure of oversight is not provided for under the Constitution and laws of the land. But rather, the approach to oversight being taken is not proactive. There are several reasons for this, some of which will be dealt with in future articles. But this situation is a sure sign of the growing divide between our objectives for the energy sector and the systems we have in place to achieve those objectives.

How is Cabinet making its decisions? How is it ensuring that the right resources are in place to implement those decisions? How is it evaluating the results of its decisions? How does it determine if a course correction is necessary?

Operating systems and procedures – aligned with the legal and regulatory framework and inclusive of contracts, licenses, codes, standards and measurement and reporting mechanisms

We need to ask ourselves, do the citizens of T&T know the answers to these questions?

Do they have a way of finding out these answers? The answer, unfortunately, is “no.”

And even if somehow, despite these issues, we were somehow managing to meet the objective of maximising value for present and future generations, the circumstance would still be unacceptable. Our stake in this finite resource is too high for the citizenry to be so far removed from the system under which it is governed.

Monitoring and feedback – the system should not remain static, it must be continuously assessed and improved, with implementing agents accountable and reporting to regulators, as designated in legislation and/or regulations. At each stage, the process must be undertaken by entities that are effective and efficient, with the necessary, capacity, powers and accountability.

Bid rounds – How do we measure success?

One of the main strengths of our energy sector is its depth. For a relatively small society our oil and gas business is remarkably interconnected and complex. T&T's energy business begins from when oil and gas are extracted from the ground. It includes transportation of the raw materials using extensive pipeline networks, refining them

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

53

Energy Update for a multitude of uses, using them to feed other industries, transporting them for export, and even selling them as finished products.

At every stage of this chain new value is created. And at every stage of the value chain decisions are made and implemented that determine the outcomes our energy sector produces. At every stage we can and should ask the question, did we make decisions that match our shared vision for the sector?

How did we determine when and how much to extract from the ground? How did we go about negotiating extraction agreements and selecting providers? Are these resources being properly developed? Are we efficiently collecting and maximising revenue? How are we managing and sharing the revenues we receive? And finally, are we achieving sustainable development from these precious, finite resources. An effective system of governance ensures that every aspect of the system is an expression of a clear objective.

With these clear objectives we are able to better evaluate the governance structure – the laws, the institutions, the strategies, the activities and everything else, including, most importantly, the outcome.

An outstanding example of this is how we plan, conduct and evaluate bid rounds for potential oil and gas blocks. Are our bid rounds aligned with our vision for the sector? Are they a proper manifestation of what we say we want to achieve? Based on those criteria can we judge our bid rounds as a success?

In 2013 the Ministry of Energy and Energy Affairs held an onshore bid round for three blocks. Following the close of bidding, Energy Minister Kevin Ramnarine said, “the 2013 on shore bid has been a success.”

This echoes statements from the Ministry after the close of its 2012 deepwater bid round, at that time stating it was “the most successful deepwater bid round in 14 years.”

But how do we measure success?

In the upstream energy segment, bid rounds are auctions that require competitors to make offers to the government to win the right to carry out exploration and production activities in a given area (or block). They are a crucial area of energy sector policy as they deal specifically with how and when oil and gas will be discovered, extracted and utilised. The way a nation conducts its bid rounds should tell you a great deal about its intentions for

its energy sector. But bid rounds are not as simple as conventional auctions. Unlike the typical auction in which the goal is to get the highest price for a particular item, a petroleum bid round’s objective is to achieve the highest “value.” And value is (should be) determined by the priorities of those holding the bid round.

In oil and gas exploration and production there are several types of value: Improving geological understanding – providing valuable understanding of the geology, so that the country has a better handle on its resource base – how much it might have, where it might be, how easy or difficult (or expensive) it may be to prove and/or produce.

This is achieved by geological and geophysical data collection, analysis and interpretation.

In the late 1980’s the T&T Government held a successful bid round (closed to selected bidders) to understand the petroleum potential of the onshore cretaceous formations that are deeper and older than those that have traditionally been producers. A consortium led by Exxon conducted extensive exploration activities which provided a new understanding of the geology and led to later discoveries in the Southern Basin.

Increasing reserves – to prove new reserves and, in so doing, increase the worth of the country’s asset base. This is achieved through a programme of exploration and appraisal that includes drilling. By definition, reserves are only proven when physically tested by drilling.

(Note that a change in the fiscal regime or the price of oil or gas also influence a change in reserves, as the definition of proven reserves requires that their production must be commercially viable). Other categories of reserves (potential and possible) can be added without drilling, but cannot be “banked”. A bid round that seeks to increase proven reserves must therefore include a commitment for drilling. .The East Coast Block 2 Angostura Field was discovered as a consequence of one such bid round, which led to new reserves and new production.

Increasing production – this requires one or more of drilling of new wells, working over existing wells, applying new technologies or practices to enhance recovery from existing discovered fields, and improving commercial conditions (including the adjustment of fiscal terms and market activity, especially in the

case of natural gas, which requires market access).

Increasing revenue – increased production can lead to increased revenues, provided this is not entirely offset by tax concessions. In bid rounds, governments can also require “signature and production bonuses” from the successful bidder. The first deep water bid round (opened 1996, closed in July 1997) attracted bids from the leading super majors and majors, with blocks being awarded to Exxon (2 blocks), Shell/Agip and a consortium of Arco/Petrobras/Union Texas. Five of the nine blocks attracted no bids, yet the Government was able to raise US $100 million in signature bonuses, at a time when the economy was fairly weak. Apart from the overall goal of hosting a bid round to stimulate industry activity, as in any auction, success is measured by the number of bids, quality of bids and quality of the bidders themselves (do they have the resources, track record and expertise to achieve the major country objective?). And, as in all auctions, the outcome is conditional on the quality of the asset (real or perceived) and of the marketing strategy in promoting the value and quality of the asset, and in attracting the bidders who are most interested in accessing these assets and have the ability to make the most competitive offer for them.

This brings us once more to the question – what are our objectives and how do these bid rounds align with them? Why have those in the recent past been judged successful? The number of bids received is not the sole or even the primary determinant of success. Does the quality of the bids meet our predetermined hurdles? Do the bidders have the resources to conduct the activities we want at the proper standard? Most importantly, do our policymakers themselves know exactly what we want to achieve and how to craft bid rounds to meet their goals? As of this writing, the Ministry of Energy is still accepting bids for their 2013 deepwater competitive bid round.

The deadline for submissions is January 31, 2014. It is more than likely that they will make a statement following the close. Pay attention to what is said, particularly in regards to the objectives of the bid round and its success.

Think critically. Question what you are told.

The topic may appear complex but the fundamental questions are simple. Ask them.

Contact • Vol.14 No.1 2014

Telecommunications Authority of Trinidad and Tobago

54

TATT Seeks Enhanced Mobile Data Services for Trinidad and Tobago Mr. Cris Seecheran, Chief Executive Officer Telecommunications Authority of Trinidad and Tobago t is about bringing enhanced data services to the people of Trinidad and Tobago. Fast, secure, and robust data services that improve the customer data experience at affordable rates.”

Cris Seecheran, Chief Executive Officer, Telecommunications Authority of Trinidad and Tobago explains why the new product offering of higher frequency spectrum in the 700 MHz band.

increased competition. Prime frequency bands, like the 700 MHz band, will enable either new or incumbent mobile operators to utilize ‘state-of-theart’ technologies in the deployment of new networks and services.

TATT envisages technologies such as Long Term Evolution (LTE), in the 700 MHz spectrum, to be utilized, thus opening the door for greatly enhanced mobile broadband speeds and enhanced services Mr. Seecheran was speaking to TATTBytes on TATT’s to the public. issuance of a Request for Proposal in order to attract providers of Enhanced Mobile Data Services via the Do we need it? following mechanisms: There is a clear demand.

significant step up from the 2.5G technology (i.e.

Enhanced Data Rates for GSM Evolution (EDGE)).

Since 2012, mobile operators have offered customers mobile Internet services utilizing both HSPA+ and EDGE technology.

1. Award Licences for 700 MHz spectrum to Incumbent Mobile Operator(s) and/or potential Third Mobile Operator.

2. Potential for award of a Concession to a Third Mobile Operator.

3. Potential award of Licences for available 850 MHz and 1900 MHz spectrum to a Third Mobile Operator.

Cris Seecheran explained that in a country with 1.88 million mobile voice subscriptions in 2012, it is estimated that 22.4% of the mobile population used mobile Internet services via their phones. As at December 2012, approximately 422.5 thousand mobile voice subscriptions were using mobile It is this enhanced performance and increased Internet services. national productivity that TATT is trying to bring to the local market and why it took the decision to When compared, there were approximately 224.1 make spectrum available to providers in order to thousand fixed Internet subscriptions versus the facilitate the provision of enhanced data services approximately 422.5 thousand mobile voice and included the opportunity to further open the subscriptions over the same period. Fixed mobile market to increased competition. narrowband Internet subscriptions accounted for 2.9 thousand.

At this stage in the tender process, TATT has received and responded to clarifications sought by Even more noteworthy, he stressed, was the jump interested parties who purchased the tender package in technology with the introduction of High Speed and awaits the closing date for proposals, Tuesday Packet Access (HSPA+) by the operators in Trinidad 1st April 2014, in order to commence the evaluation and Tobago. This jump to a basic 4G network has process. It is anticipated that any award(s) arising paved the way for the provision of services at from the RFP process will be completed by end broadband mobile Internet access speeds, a September 2014.

I

“

Mr. Seecheran explained that there is a current trend, world over, for higher and more efficient broadband speeds, especially in the mobile market. In addition to the above, TATT has been seeking to make broadband more universal and affordable throughout Trinidad and Tobago.

It is that demand that guided TATT to take the decision to make spectrum in the 700 MHz band available to providers in order to facilitate the provision of enhanced data services and TATT took the opportunity to further open the mobile market to

These higher broadband speeds, he added, will bring improvements in application performance and enterprise mobility creating a range of benefits: • Increased sales and improved customer service • Improvements in products and services • Productivity gains • Personal and team productivity • Management effectiveness and innovation • Process efficiency and effectiveness • Direct cost reductions • Improved employee motivation • Improved flexibility, agility and decision making

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Criteria for student selection - Each student must: • Be unable financially to pursue further education upon graduation, • Demonstrate potential and a willingness to learn, • Attend all scheduled training sessions, and • Complete a data entry form outlining goals, skills & identifing areas requiring development.

The Chamber’s NOVA Committee’s Jumpstart Programme was established in 1998 and seeks to assist school-leavers to learn about the working environment and to access opportunities for employment.

Selected schools and institutions across the country are invited to nominate graduating students to participate in this highly regarded ‘youth development programme’.

Participating company requirements - Each company must: • Pay a weekly recommended stipend, • Assign a mentor to the apprentice and • Complete an assessment review at the end of the apprenticeship.

Further information is available on the Jumpstart Programme from the Chamber’s Secretariat or Cheryl-Lyn Kurban, Project Assistant at 637-6966 ext 228 or ckurban@chamber.org.tt

56

Arthur Lok Jack Graduate School of Business

The Future of Marketing

By Nadia Salamat-Ali Programme Director and Lecturer for the International Master of Strategic Marketing, Arthur Lok Jack Graduate School of Business

A

ccording to Peter Drucker (1909-2005), The Practice of Management, “the purpose of business is to create and keep a customer and the business enterprise has two – and only two basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.

Marketing is the distinguishing, unique function of the business." It is an ever-evolving discipline and today it is like a revolution, a whole lot like the Industrial Revolution. It builds on the past while taking advantage of new opportunities. The change is profound.

Globalisation and the internationalisation of brands, the fragmentation of consumer segments reflecting changes in the global media infrastructure, the advent of consumer-led marketing initiatives, emerging markets and the move from product to services, entertainment and experiential marketing, all require new managerial responses and new theoretical perspectives. Global competition has placed a premium on jobs that can improve the likely success of new products, more effectively target consumers’ wants and needs, minimize inventory levels and reduce the costs of advertising. This is what marketers and survey researchers are charged to do. These jobs will be central to success in the 21st Within the last decade, classic marketing Century economy. management principles are being challenged by new developments within the marketing environment. Consumers’ engagement with products and services The information revolution has changed the way in are changing, so too are the factors that shape the which firms use data to understand and manage buying decisions. As a result, the methods marketers customer demand. The use of credit cards, bank employ to reach consumers must change as well. and grocery cards, online shopping and customer Traditional marketing considerations are now being databases generated by sales and inquiries have replaced by new ones, such as market analytics, created a wealth of consumer information and offer search engine optimisation, SEM, and digital and advantages to those who can evaluate and assess social media management. Today’s marketing consumer preferences, sentiments and consumption managers need to be innovative, multidisciplinary, patterns. and customer focused. Yet, they must be quick to respond in order to strategically position their products Marketing has long been data driven, with a lot of or services to meet the needs of an ever-changing survey research and polling. But the volume and consumer base. In an age where the consumer kind of data that we are beginning to acquire is rules, companies are forced to restructure and adapt vastly increasing, requiring better computing facilities to the evolving needs of the marketplace. As a result, and greater knowledge to handle. The kinds of businesses are creating new roles and jobs just to questions that we can ask are much more stay competitively positioned; this is necessary to sophisticated and require a whole new science. not only survive, but to thrive.

The study of social networks, for example, has long been something that sociologists and marketers have thought was important. But there really wasn’t much we could do, because a lot of the data simply was not available to us.

Prior to a few years ago, you couldn’t have observed the ties that existed between hundreds of millions of individuals. Now we have market analytics and big data that provide exactly that kind of information.

As the tools and philosophies of the big data spread, it will change long standing ideas, the value of experience and the practice of Marketing Management.

marketing environment by introducing The International Master of Strategic Marketing programme. This innovative curriculum blends 21st century topics in Market Analytics, Services Marketing, Digital and Social Marketing, Human Behaviour, Cross-Cultural Management, Innovative Product Development and Designing Consumer Experiences with key marketing core courses.

The aim of the International Master of Strategic Marketing programme is to develop the students’ analytical, critical thinking, strategic, decision making, and leadership skills, as well as, the ability to think creatively and act ethically to address issues of concern in the ever-changing business world. The focus of this programme is to increase the quality of decision making towards evidence-based, to be problem finders not just problem-solvers. In so doing, our marketing graduates can identify and preempt the threats that could mean disaster for their organisations. Let us keep in mind that organisational breakdowns and collapses do not just occur in a flash, they evolve over time. They begin with a series of small problems, a chain of errors that often stretches back many months or even years. Mistakes tend to compound over time; one small error triggers another. And once set in motion, the chain of events can be stopped. However, the longer the wait, the more that momentum builds and the once-seemingly minor issues spiral out of control. Therefore, our marketing leaders cannot wait for problems to come to them. As retired general, Colin Powell, once said, “Bad news isn’t wine. It doesn’t improve with age.”

Marketers are now being described as Why choose the International Master of Strategic Anthropologists: if marketing leaders wish to discover Marketing? the problems that could mushroom into large-scale failures in their organisations; they too must venture Today’s marketing managers are expected to lead out of their offices. They must immerse themselves at an operational level in the rapidly changing occasionally in the everyday contexts in which work economy. Firms in Trinidad and Tobago and is being done, and in which consumers buy and use regionally are increasingly seeking managerial talent their products and services. They need to hone their with the skills to cope with the increased complexity skills of observation. They need to see actions, and competition in both the domestic and global behaviours and processes for themselves. markets. The next five years will require more Successful companies are no longer conducting sophisticated marketing practitioners. Recognising research in an unnatural setting, as Proctor and these trends and being the leading business school Gamble now has an extensive observational in the Caribbean, the Arthur Lok Jack Graduate research campaign, it’s twofold: “living it and working School of Business has responded to this new it”.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

58

Trinidad and Tobago Securities and Exchange Commission

The regulatory framework for the local securities industry

By Kerry-Ann Thompson Head of Geographic Information Systems Department, Amalgamated Security Services Limited

A

n Act to provide protection to investors from unfair, improper or fraudulent practices; foster fair and efficient securities markets and confidence in the securities industry in Trinidad and Tobago; to reduce systemic risk, to repeal and replace the Securities Industry Act Chap 83:02 and for other related matters” (The Securities Act, 2012; Act No. 17 of 2012)

Act require: 1. All persons who wish to conduct the business of broker-dealers, investment advisers or underwriters, to be registered with the Commission (Section 51).

2. All securities distributed or listed with any SelfRegulatory Organization3 to be registered with the Commission (Section 62).

3. Reporting issuers4 to submit annual reports and financial statements, material change statements Systems generally require an overarching and interim financial statements. These governance regime that will provide a structure statements must be filed and delivered via a through which this specific system will operate. specific process (Sections 63-67).

Standards of operation, which promote best practices and ultimately facilitate the overall development, In addition to the mandate outlined in the Act, the administration and maintenance of the system, are Commission also plays a role in ensuring compliance also normally established. These operations are with Anti Money Laundering and Combating the administered by some form of authority be it a Financing of Terrorism (AML/CFT) legislation which government or governing body. This same analogy also include the Proceeds of Crime Act (POCA) and can be used in the context of the securities industry. The Financial Obligations Regulations (FORs)5.

The Trinidad and Tobago Securities and Exchange As part of its legal framework, the Commission drafts Commission (TTSEC), the regulator of the market, and issues guidelines to market participants which was established by Section 5 of the Securities Act, explain the various protocols to be observed within 2012 (SA 2012, The Act) to provide necessary the securities industry. These guidelines also set oversight and regulation of the securities market standards of behaviour which are expected of and its participants. Our legislation prescribes the registrants as they conduct their business. Examples legal framework that the Commission employs and of these are listed below; consequently outlines the regulatory framework for - Guidelines on Anti-Money Laundering & Trinidad and Tobago’s securities industry Combating The Financing of Terrorism (Figure 1).

- Repurchase Agreements Guidelines - Collective Investment Scheme Guidelines This article will demystify the framework which has - Promotion Presentation Standards for Collective been adopted by the TTSEC for the regulation of Investment Schemes the securities industry.

The Regulatory Framework Figure 1 The repeal of the Securities Industry Act, 1995, required the Commission to update the methodologies that it uses to regulate the market.

Under the SIA 1995, the core methodology was more disclosure-based; however, the SA 2012, requires a more risk-based approach to regulation.

An example of this shift is the need to ensure that entities are sufficiently capitalised. The following paragraphs outline the processes that currently exist and where applicable, identify the more salient Governing Legislation amendments to the Act. The SA 2012 establishes the Commission as a body corporate that regulates the securities market. The Registration Act outlines its powers and functions1; some of Section 51 (1) of the SA 2012 provides that: which include enforcing policies and procedures in (1) Subject to this Act, no person shall carry on order to ensure the efficient operations of the market business or hold himself out as, or engage in any and mitigate against systemic risk2. These policies act, action or course of conduct in connection with, and procedures as informed by the SA 2012, form or incidental to, the business activities of— the legal framework by which the market is regulated. (a) A broker-dealer; Some core policies which are explicitly stated in the (b) An investment adviser; or

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Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

(c) An underwriter, Unless the person is registered, or deemed to be registered, as such, in accordance with this Act, and except for persons deemed registered, the person has received written notice of the registration from the Commission.

This means that those entities which seek to engage in the activities above, must obtain approval from the Commission before operating in the securities market. Registration is one of the primary ways which the Commission adopts, in order to offer protection to the investor. This process allows for the review of necessary documents to ensure that they meet the regulatory and legislative requirements before products and services are released into the market.

Compliance and Inspections The passage of the SA 2012 gave the TTSEC the power to perform on-site inspections of its registrants in order to ensure compliance with the provisions of enforceable legislation (SA 2012, POCA, FORs).

Ideally, inspections and their frequency should be carried out using a risk-based approach. This approach greatly enhances the effectiveness of the inspection process as it facilitates the profiling of registrants according to the risks associated with their business and its operations. This will also allow the Commission to effectively determine who is inspected, at what time and the frequency of the inspections to be carried out. The first on-site inspection was conducted in December 2013.

Market Surveillance In its capacity as the primary regulator for the securities industry, the Commission is actively involved in the surveillance of this industry. A key constituent of the Commission’s surveillance activities is the monitoring of trading activity on the Trinidad & Tobago Stock Exchange. However, surveillance activities extend to all areas of possible market misconduct. This is accomplished through various systems and tools designed to detect and address misconduct as early as possible. One such tool is the handling and processing of complaints from members of the public on matters pertaining to the securities industry.

Enforcement In cases where registrants are perpetually noncompliant with the rules outlined in the legislation, the Commission has the power to apply sanctions or penalties through a court of law. A snap shot of the penalties in the Act are outlined on page 59:

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Trinidad and Tobago Securities and Exchange Commission

OFFENSE

SANCTIONS

SA 2012

Failure of Self-Regulatory Organizations (SRO) to comply with the Act or inability to enforce its rules of governance

- censure of SRO - limitation of activities - suspension/revoking of registration - imposing administrative fine (S156)

Section 48

Misrepresentation of documentation to the Commission

- liable to conviction on indictment to a fine of one million dollars and imprisonment for five (5) years

Section 60(1)

Contravention of section 51(1) or (2) of the SA 2012

- Fine of two (2) million dollars and imprisonment for five years

Section 60(2)

Failure to meet registration requirements, misrepresentations, fraud and dishonesty at home and abroad, payment defaults, ceasing to meet registration requirements

- Suspension of registration, warnings, censure

Section 57

payment defaults, ceasing to meet registration requirements To find out more about the local securities industry or the Trinidad and Tobago Securities and Exchange Commission, we invite you to visit our website www.ttsec.org,tt, follow us on Facebook, read our WordPress Blog or call 624 2991.

Contact • Vol.14 No.1 2014

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Guardian Group

Guardians of a Better Tomorrow “…The dominant paradigm underlying corporate social responsibility or CSR is centred on the idea of creating ‘shared value’.” from “Why Every Company Needs CSR and How to Build It.” 2012

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orporate social responsibility isn’t the typical driving force of the average business but we can honestly say that our passion lies in creating value for society and a win-win reality for all of our stakeholders, clients and communities. For Guardian Holdings Limited and its subsidiaries, the period July to August 2013 saw the rebranding under the umbrella brand, “Guardian Group” of the nine (9) distinct brands of the group across Trinidad and Tobago, Barbados, Jamaica and the Dutch Caribbean. While the companies within the group remain separate legal entities, we all now carry a single brand name, logo and tagline, solidifying Guardian Group as a single brand. With this new single paradigm, the Group is even more committed to playing an active role, in co-operation with other community minded organizations and individuals, in furthering the wellbeing of our community. We therefore chose to transition our approach to CSR, actively encouraging individual and societal development, improved wellbeing and the realisation of human potential.

Health & Wellness We all know that healthy people are happy people and at Guardian Group we have defined this as the ethos of our revamped CSR framework. For us, a healthy lifestyle requires four simple but essential actions: get active, make healthy food choices, know your numbers and achieve balance in life.

Towards this end, in 2013 we celebrated the 15th consecutive year of sponsorship of the Herman Griffith Primary Schools Cricket Competition, which grooms young Barbadian talent and promotes a

physically active lifestyle and the building of a healthier nation. This sponsorship was borne under the Guardian General subsidiary, dating back to its early years as Caribbean Home Insurance Company Limited.

In Trinidad, we participated in the Diabetes Association’s Annual Walk 2013 in recognition of World Diabetes Day and, for the fifth year since its inception, Guardian General (TT) supported the Daren Ganga Foundation's Annual Free Cricket and Football Camp for pre-teens and celebrated Nelson Mandela Day in Tobago with a Celebrity T20 Cricket Match. The campers interacted with professional coaches and players and participated in a celebrity T20 cricket match with sporting heroes including Larry Gomes, Daren Ganga, Lincoln Roberts, Sherwin Ganga, Richard Kelly, Gibran Mohammed, Dinanath Ramnarine, Navin Chan and many more.

Our Dutch subsidiary, Guardian Group Fatum hosts the largest run and walk event on the island of Curacao. This event raised money for several good causes as well as good health in general. In Curaçao we also supported the Ride for Roses, which raises money for the Princess Wilhelmina Fund in the fight against cancer. Guardian Group is a key sponsor of the Tumba Festival, a cultural local event that makes it possible for the community to organize and enjoy balance in life.

Academic Leadership Development While health and wellness is core to our CSR, at Guardian Group ours is a rich legacy and tradition of support to academic leadership. Our Life, Heath and Pensions line of business, invests in academic leadership at the primary and tertiary level of education throughout the Caribbean region. This is consistent with the promotion and achievement of excellence that is symbolic of Guardian Group’s interventions, interactions and accomplishments

within the Caribbean region. Our Guardian Life Limited Grade Six Achievement Test (GSAT) scholarships in Jamaica reward students who perform outstandingly in the GSAT examinations with a five year J$50,000 scholarship to finance their secondary education.

At the tertiary level, we teamed up with The University of the West Indies for the 15th year to host the Premium Teaching Open Lecture Series. This event alternates annually with the Premium Teaching Awards in Trinidad and Tobago and Jamaica. The Open Lectures aim at improving teaching effectiveness and this year featured a guest lecture

by Dr. Todd Zakrajsek of the Department of Family Medicine at University of North Carolina.

Philanthropy is a deeply rooted in our culture In Jamaica, the Labour Day project to give St. Joseph’s Hospital in Jamaica a facelift was a groupwide initiative where Guardian Group employees turned out in great numbers to paint and prune the hospital grounds in the true spirit of serving others.

Guardian Life also donated two life-saving ventilators valued at J$2.5 million to the John Homi ICU, University Hospital of the West Indies.

In a similar vein, the highlight of the holiday season was our annual Shoebox Project where employees brought joy and good cheer to thousands of underprivileged children. In Aruba, Barbados, Bonaire, Curaçao, Jamaica, St. Maarten and Trinidad and Tobago, members of our staff presented approximately 2,000 boys and girls with shoeboxes filled with toys.

All in all, in every Guardian Group office and every Guardian Group territory, we have brought corporate social responsibility to vibrant, invigorating life – challenging our team members to truly make life a little easier for our stakeholders, clients and communities.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

SERVING THE CARIBBEAN

An Approved Mediation Agency registered with the Mediation Board of Trinidad & Tobago The Centre’s Mediation Programme is Accredited by the Mediation Board of Trinidad and Tobago

The Centre provides public and customized in-house training in ADR & related fields, such as Mediation, Negotiation, Arbitration, Conflict Resolution, Stress & Anger Management, Self Management for the Busy Executive, Dealing with Difficult People, Critical Thinking For more information contact: THE DISPUTE RESOLUTION CENTRE, Ground Floor, Trinidad and Tobago Chamber of Industry and Commerce Building, Columbus Circle, Westmoorings.

Tel: (868) 632 4051 or 637 6966 Fax: (868) 632 4046 or 637 7425 E-mail: drc@chamber.org.tt

ACCA

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Global Business Services - Career Limiting or Role Promoting?

By Brenda Lee Tang, FCCA Head of ACCA Caribbean lobal Business Services, or GBS, is on a country, regional or global level. This changes GBS, Technology and Skills the next ‘big thing’ for shared services the relationship between the retained finance function Finance is a perfect candidate for the application of more technology, not less. So it follows that an finance models around the world. and the rest of the business. important dimension of GBS is the use and role of technology.

GBS brings together important internal Developing careers and external functions such as finance, human GBS also has significant implications for finance resources, IT, property and facilities into one professionals’ career paths. Firstly, the retained team If process integration is underpinned by better department within an organisation. It is often seen may see a shift in its focus from managing processes technology, it should mean fewer work diversions as a back office function, but it is changing into a – even in a shared-services or outsourced model – for the finance organisation, quicker access to data, function that cuts across the business with the aim to business partnering and corporate finance. and more actionable insights. As businesses increasingly seek to use better workflow tools, there of delivering real and measurable value.

Finance professionals in a GBS structure may see will be advantages in having an operational Deloitte has analysed the growth of GBS in a recent their responsibilities shift from managing single construction that allows processes to work together report called Better Together, which confirms that functions to managing across functions. So the big seamlessly. The deployment of social, mobile and GBS is a rising trend. For over 20 years, many question is whether GBS is good for the finance cloud technologies, providing more and better data, could have significant implications for finance and organisations have used shared services models professional? for the management accountant who so often has to achieve growth, and to drive savings and operational efficiencies.

So the move to a GBS model could be seen as to take a future view. another step on the finance professional’s career But where do we go from here and what does this path. The change started some years ago, as finance One of the last issues of important to the future of mean for the management accountant? departments segregated strategic, management and GBS is skills; with the rise of GBS, finance execution finance tasks, and then industrialised rules- professionals need to acquire new and deeper ACCA has worked to answer these questions, and based transactions work by consolidating it into management capabilities. believes that GBS is a transitional time for profession delivery centres.

Because finance activities within a GBS model no and for the finance professional that could find themselves part of a GBS function. Indeed, this was The implementation of GBS will call into question longer align vertically within the finance function, the title of our report Global business services: a the role of the retained finance team, including those but are delivered horizontally and linked end-to-end game changer for the finance organisation? For this embedded in the business, such as management with key tasks contained within other functions, finance professionals are confronted with the need report, we spoke with a number of contributors, accountants. to adapt their ways of working. In a GBS structure, including KPMG, Aviva and Accenture Business Services, who all fed in their views about GBS and It may change the responsibilities, reallocating roles having deep finance skills is no longer enough as its future. One thing is certain from contributor’s previously under the purview of the CFO’s team. If, professionals must work within a cross-functional, feedback – that GBS is transformative. for example, transactional finance processes shift matrix set up. out of the control of the CFO, the traditional career Transforming business path upward may be more limited; it will certainly be Technology skills are therefore vital to the smooth The modern-day accountant is increasingly seen disrupted because the linear functional relationship running of GBS. as a business partner to the wider organisation. between transactional finance and the rest of the These are early days in the life of GBS. So what is With their broad perspectives on businesses, and finance organisation ceases to exist.

ACCA’s conclusion? Quite simply, the accountant their ability to work across functions on a wide range of issues, this makes them ideally placed to manage What is important is that the GBS function is seen and the finance function itself are well placed to the GBS environment, and play an important role as offering a clear career pathway and that there embrace the challenges and opportunities presented within it. are routes to progress within it. However, there is by GBS. a concern that the finance professional may not be GBS is transforming how business is done. Since able to gain sufficient technical experience unless They are also well placed to make an impact and 2011, ACCA has explored how leading businesses there is a defined path through GBS, and this may bring about change. And because GBS is a relatively are transforming their finance functions by adopting not necessarily steer them back through the finance new construct, the management accountant can be shared services and outsourcing models. Finance function. At the same time, the finance leaders in at the forefront of tailoring the services, of being at leaders have been early adopters, with over 70% the retained finance organisation may be further the forefront of a cross-department service that can of Fortune 500 companies moving some component removed from transactional finance process delivery. only grow in size and popularity. of their finance delivery into consolidated operations It is important to have a joined up approach.

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Member Corporate Profile

Pamela Williams and Associates

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amela Williams & Associates was founded in October, 2007 on the ambition and passion to see a change in the local Service Industry by December 2010, hence our tagline “Changing the Service Landscape” in T&T. We employ top-notch professionals with a combined experience of over 30 years in the areas of Human Resource Development, Banking and Finance.

Together, we have changed mindsets and built skills in excess of 20,000 persons; our work spans from as far as Trinidad and Tobago in the south to Jamaica in the north, through St. Vincent & the Grenadines, Grenada, Barbados, Antigua, St Kitts/Nevis and the Dutch and French speaking Islands of Curacao, Bonaire, Aruba and St Maarten.

In these locales, our clients include firms which are giants of the Financel, Tourism, Government, Business and Education, Industrial, Manufacturing, Energy and, Pharmaceutical Industries, Displaced workers, small business owners, telecommunications companies, sports teams and volunteers of world class sporting events and functions.

A sample of our interventions are, but not limited too, the design, development and delivery of workshops in the areas of Banking Fundamentals, Personal Development and Growth, Motivation and Outbound Team

Building, Supervision and Leadership, Customer Service and Sales, Emotional Intelligence, Strategic Planning, Train the Trainer, Developing the Internal Consultant and Change Management using the ADKAR Model.

Principal Consultant, Pamela Rachael Williams, attended the Disney Institute, Orlando, where she participated on their flagship programme "Disney’s Approach to Building Customer Loyalty", workshop and is accredited by Hay Group (USA) "Providing Service Solutions using Emotional Intelligence", Teleometrics International (USA) - “Models for Management", American Management Association (AMA) “Principles of Professional Selling”. She is also an ICC Cricket World Cup (2007) Trainer and Assessor and holds an NVQ Qualification in Assessing Candidate Competence level in Customer Service.

Finance, Communications and Service industries.

Experience the Difference Our success was created through a unique hands-on, interactive style of training that engages participants and captures the attention of our audience. We deliver every workshop with a unique storytelling style designed to inspire and motivate. We guarantee that our interventions would not only meet your needs but also foster Transfer of Learning and yield Returns On your Training Investment (ROTI).

Our Philosophy is “To become a valuable partner to our clients and not just one of their vendors” Our Service Promise is “To create an environment that”:

1. Is Easy to do business with 2. Is Accessible to our clients Pamela Williams & Associates is dedicated 3. Accurately, resolves concerns promptly to providing only the most qualified within 24 hours professionals for our clients. We are all 4. Views feedback as opportunities to review certified trainers who have worked together and improve our service for 7 years at RBTT and Roytec and as a Experience the Difference result, we have achieved a level of integration of values, purpose, attitudes and action both Email Address: pamelawilliams02gmail.com within and among us. We were carefully Tel #: 1 (868) 687-7324 chosen for our knowledge, experience and website: changingtheservicelandscape.com pride of accomplishment in the Banking and Facebook: Pamela Williams & Associates

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Chamber

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The Chamber’s Annual Carnival Competition

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his year, Trinidad and Tobago Chamber of Industry and Commerce (the Chamber) partnered with Energy Chamber of Trinidad and Tobago (ECTT) and Trinidad & Tobago Coalition of Services Industries (TTCSI) to host its Annual Carnival Competition, held at the Chamber’s Conference Hall in Westmoorings. Staff of the business development organisations competed in Calypso, Lip Sync and Ole Mas categories.

Though having a relatively small turnout a good time was had by all, with food for the “all inclusive” sponsored by a member of the T&T Chamber, Angelina’s.

Judges for this year’s competition included Arnold Cato, a past Vice-Chairman of the Chamber’s Nova Committee, well known Teacher/Music Director/ Voice Trainer Michelle Hazell and longstanding Member of the Chamber’s Crime and Justice Committee Andrew Johnson (one half of the Statler and Waldorf team) who judged competitors on creativity and originality.

– Man in Yuh House by Cassi end of the competition we can say it was an even match between the T&T Chamber and 3rd place – Rhea Nelson – T & T Chamber) - Bring Back the Old Times Days by the Energy Chamber. Winners were as Nappy Mayers follows: 4th place – Keegan Constantine (T & T Chamber) - Big People Party by Farmer Calypso Competition: Nappy 1st place – Rhea Nelson (T & T Chamber) – King of the Heap 2nd place – Resha Edwards (Energy Chamber) Special Prize: Best Interpretation – Keegan Constantine (T&T Chamber) -The Love Gun 3rd place – Brittany Bain (T & T Chamber) Ole Mas Competition: – To be Advised 4th place – Cheryl lyn Kurban (T & T 1st place –– The Energy Chamber Group – Energy Workout Plan Chamber) – The Political Cricket Tour 2nd place – Brittany Bain (T & T Chamber) – Watch out My Children Special Prize: Best Lyrics – Brittany Bain 3rd place – Keina Calliste and Glen George (T&T Chamber) (Energy Chamber) – MPs Salary Increase 4th place – Keina Calliste & Glen George Lip Sync Competition: (Energy Chamber) – Kubalsingh’s Tyres 1st place – Resha Edwards ( Energy Chamber) - Born with This by Allison Special Prize: Most Humorous – Energy Hinds 2nd place – Brittany Bain ( T & T Chamber) Workout Plan (Energy Chamber Group)

The hard work of the Competition’s coordinator Cheryl-Lyn Kurban, who brought her special skills as a Project Assistant with the Chamber to bear over the past three years, paid off once more. With prizes sponsored

by Ms. Brafit, Angostura, VemCo Limited, Oscar Francois, HiLo Foodstores, Caribbean Airlines, Accra Beach Hotel & Spa, National Flour Mills, Blue Waters, Coca Cola, Sacha Cosmetics, Trade Winds Hotel and Cascadia Hotel, prizes were awarded to all entrants and special prizes were given for Best Lyrics, Best Interpretation and Most Humorous. At the

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

The Chamber’s Events

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Business Hall of Fame Induction Ceremony and Gala Dinner

Customer Service Excellence

The Chamber inducted three highly esteemed individuals into its prestigious Hall of Fame at the awards ceremony at the Hyatt Regency on November 16, 2013. The year’s inductees were Mr. Victor Mouttet, Mr. Carlton Mack (posthumous) and Mr. Harry Sooknarine (posthumous). The Chamber is proud and honoured to celebrate their lives and achievements in its Hall of Fame Mr. Brendan Paddick, chairman and ceo Columbus International Inc. Delivered the feature address.

Partnering with the Chamber this year were; Platinum Investor – First Citizens, Diamond Investor – Columbus Communications and Gem Investors – Atlantic and Shell.

The Chamber hosted a session entitled “Customer Service Excellence” on November 25, 2013. This one-day workshop was facilitated by Mrs. Pamela Rachael Williams. Some of the topics covered included Developing skills in dealing with customer complaints, Making the telephone work for you, and The secret of excellent customer service.

BizOppsTT The Trade and Business Development Unit of the Chamber hosted a two-day Conference over November 27-28, 2013. The business community was highly engaged in discussion at this conference regarding new business opportunities. Presentations were made by the Ministry of Labour and Small and Micro Enterprise Development, TSTT, T&TEC, WASA, Ministry of National Security and Microsoft, among others.

Partnering with the Chamber to ensure the success of this event were; Blink Bmobile, IBIS, IGOVTT, Microsoft, Ministry of National Security, T&TEC and Peter Richards Landscaping Limited.

Network for Net Worth The Nova Committee of the Chamber hosted members and new SME’s to a Business Networking Cocktail Reception on November 28, 2013 at the TSTT Hospitality Booth, Queen’s Park Oval, Port of Spain.

Partnering with the Committee to host this event were; Blink Bmobile and Republic Bank Limited.

Understanding Workplace Fraud and Criminal Behaviour On December 3, 2013, the Chamber in collaboration with RBC Bank Limited hosted a session entitled “Understanding Workplace Fraud and Criminal Behaviour”. The session was facilitated by Mr. Jeremy Jones, Head – Enterprise Services, Technology and Enterprise Services, RBC Financial (Caribbean) Limited and Mr. Antonio Ventour, Manager – Fraud and Corporate Investigations, RBC Financial (Caribbean) Limited. RBC Bank Limited was the exclusive sponsor of the session.

Meet Me @ Five!

The Event, hosted by the Chamber’s Marketing and Communications Unit, took place on September 26, 2013 at the CLICO Hospitality booth of the Queen’s Park Oval. New members met, greeted and networked with each other and Chamber Executives. Partnering with the Chamber to host the event was PWC.

Welcome to New Members EVE ANDERSON & ASSOCIATES Address: 143 Edward Street, Port of Spain, Tel: 627-8233 Fax: 625-1588

PAMELA WILLIAMS & ASSOCIATES Address: #23 Court Drive, Champ Fleurs Tel: 637-7324 Fax: 662-2525

UNIVERSITY OF THE SOUTHERN CARIBBEAN Address: Maracas Royal Road, Maracas, St. Joseph, Tel: 662-2241/2242 Website: www.uscedu.tt

MARK DE MOMENT LIMITED Address: 20 Sinanan Gardens Lower Santa Cruz Tel: 779-2154 Fax: 638-4147 Website: www.markdemoment.com Email: contact@markdemoment.com

RORA TECHNOLOGIES Address: #25 Caroni Savannah Road, Chaguanas VALVE INTEGRITY MANAGEMENT SYSTEM Tel: 299-4477 LTD Address: Lp 813 Southern Main Road SERVUS LIMITED California, Couva, Address: #3A Warren Street, Woodbrook Tel: 374-9990 Port of Spain, Tel: 628-8013 Fax: 628-3129 Contact • Vol.14 No.1 2014

Chamber

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Quarterly Report Tobago Division - Q4 2013

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he year 2013 ended with the Tobago Division pursuing its strategic plan – to invigorate the local economy.

Its four sub-committees Business Development, Inter-island Transport, Security and Environment all reported on their various initiatives as follows: Tourism numbers remained down, due primarily to lack of product branding, marketing and problems with the airlift. Issues with the inter-island ferry service also contributed negatively to satisfactory movement of local goods and services. The Division is however hopeful that following communications with key parties in relation to the air and sea bridge, the efforts will bear fruit, moreso in the tourism sector.

A key concern for the Division for all of 2013 has been improving efficacy of the government’s loan guarantee (GLG) programme. The programme was designed to offer financial help to tourism sector businesses on the island which have been negatively

affected by the economic climate. The Chamber has met with all the players of the GLG Fund over the course of last year, and will continue to advocate for improvements.

citizens about the risk due to crime and factors to mitigate it, as well as for dealing the wider responsibilities of the public in order to encourage a crime free environment.

Security in the lead up to the Christmas season remained a clouded issue for Tobago, as much was still to be finalised, e.g. monitoring of surveillance cameras, police related issues (manpower, visibility and customer service).

In an effort to effect changes, the Tobago Division met with the Assistant Superintendent (ASP) of the T&T Police Service who assured the private sector of his Division’s ability to deal with the criminal element on the island.

The Chamber by way of strengthening the relationship of the business sector with the nation’s crime-fighters, made a small donation of trousers for the Tobago bike squad.

Challenges to the Tobago environment – due in large part to improper waste management techniques and provision for municipal solid waste became the focus of the Division.

During this quarter the Citizen Security Programme (CSP) initiated a meeting with the Division. Plans were drawn up to involve the business sector in a concentrated Tobago outreach initiative to create awareness among

Driving the challenge was clause in the proposed Beverage and Containers Act for manufacturers and distributors to buy back the receptacles from which their products was sold. The Division took the stance that since Tobago merchants already face high costs to take their goods to market, an alternative to the buyback needed to be found, for example, better recycling of plastic drink containers to begin with, but eventually converting other streams of waste into revenue. To achieve these ends the Tobago Division of Chamber is cultivating partnerships locally among NGO’s and other environmental interests.

Trinidad and Tobago Chamber of Industry and Commerce • www.chamber.org.tt

Are you looking for an ideal location to host your Private Meetings, Training Sessions, Product or Media Launches, Christmas Cocktails or even your Wedding Receptions?

Then your Chamber is here to meet your needs!

Duncan Campbell Meeting Room

WM Gordon Gordon Board Room

Leon Agostini Conference Hall

Events have become the hallmark for many Corporate Communications and Marketing Divisions and finding that ideal venue is perhaps one of the most important aspects to the success of all activities. At the Trinidad and Tobago Chamber of Industry and Commerce we pride ourselves in providing rooms for small and medium sized functions. Our venue, at Columbus Circle, Westmoorings, has been rented by many members and non-members.

Named after the Chamber’s first President, our Leon Agostini Conference Hall, accommodates Theatre seating up to 200 persons and Banquet seating of 180 (rectangular tables) or 120 (round tables). Our Duncan Campbell Meeting Room can accommodate Theatre seating up to 40 persons and Round table seating up to a maximum of 16 persons. Our special offer to weekend clients is the WM Gordon Gordon Board Room which accommodates up to 14 persons in comfortable executive style.

As a “One Stop Shop” we provide complete services - Wheel-chair access, Parking, High Speed Internet access, Catering, Audio and Video, all in our air- The Chamber’s staff stands ready to assist and will work with you in ensuring the conditioned facility. Our rates are among the lowest, given our secure and scenic success of your event. Upon request we will assist with the coordination at a location. As a member of the Chamber your rental fee is discounted by 10%. reasonable fee.

We invite you to contact Eustace Pierre at 637-6966 ext. 286 or epierre@chamber.org.tt so that a tour of our facilities can be arranged.

Thank you for your continued support and we look forward to welcoming you.

IMPACT Trinidad & Tobago Debates Commission Leading Change

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he Trinidad and Tobago Chamber of Industry and Commerce, recognising that the political process of Trinidad and Tobago did not include the formal debating of key issues by appropriate leaders or representatives of opposing parties in a publicized forum, and believing that such debating would bring significant value to the citizens of T&T, championed the creation on the Trinidad and Tobago Debates Commission (TTDC) in April 2010.

TTDC is an independent, autonomous, not for profit organisation committed to changing the landscape of Trinidad & Tobago’s politics by advocating for the country’s political leaders to participate in electoral debates in the public fora.

TTDC is currently governed by eight independent Commissioners who have been chosen to cover a range of professions and demographics ensuring a fair and balanced perspective, namely social scientist Father Clyde Harvey, retired Justice of Appeal Humphrey Stollmeyer, banker Ronald Harford, academic Professor Rhoda Reddock, media practitioner Kiran Maharaj, entrepreneur Angella Persad and Chairman Andrew Sabga, a businessman and former Chamber President.

TTDC is funded by both the private sector and civil society and the secretariat is housed at the Chamber.

TTDC’s first attempt to host a debate in the lead up to General Elections in 2010 was not successful as agreement to debate by all the leaders was not forthcoming. However, since its inception in 2010, TTDC has successfully hosted debates for three elections – Local Government Elections 2010, Tobago House of Assembly Elections 2013 and Local Government Elections 2013. These debates covered areas such as Tobago Economic

Development, Local Government Reform, Social Sector Development and Local Government Representation. As a result of these three debates, the country became more acutely aware of electoral debates of this magnitude in the local election landscape for the first time.

staged to educate the public to make informed decisions when voting for the leaders of this twin-island Republic. The debates help with our political evolution and reinforce democracy and TTDC will continue to call for the support of the public for feedback on the key issues that they would like to hear debated.

Although TTDC hosted its first debate in 2010, it was truly the 2013 debates that made us a household name with several groups calling for the Commission to host debates outside of the regular national electoral debates. The debates were major news stories on several media stations, commending the work done by the Debates Commission. Several social media sites – including the TTDC facebook page – was flooded with positive comments by citizens on the impact of the debates. One such comment thanked “TTDC and by extension TTCIC for the well produced debates”.

TTDC believes that citizens have the right to participate fully in the processes of governance and is committed to providing a forum whereby the people of Trinidad and Tobago can continue to have unimpeded access to and learn more about the political candidates who wish to serve them. Debates will therefore allow for more informed political decisionmaking by the electorate. The TTDC has already begun to prepare for debates for the upcoming General Elections which are due in 2015. The Debates Commission anticipates continued support from Corporate T&T and civil society as we advocate for further transparency and accountability in election It is truly important for TTDC to ensure that campaigning, thereby giving the voting public there is maximum public awareness, interest the opportunity to make more informed and involvement in the debates, as they are choices.

Contact • Vol.14 No.1 2014

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The Dispute Resolution Centre

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Community Leadership and the Citizens Security Programme

T

he degree of difficulty inherent in leadership is sometimes made to appear non-existent by those who do it selflessly. The time and dedication to duty by a leader is often seen as a matter of simply accomplishing some tasks and calling it a day. To the onlooker the deft balance of authority, mediation skills, vision and heart it takes often goes unrealized.

community to ensure they did not miss the opportunity to gain another skill. Many are the occasions where, without leadership the impetus needed to change a community into a place of hope and success, the status quo no matter how dangerous would have been maintained. The community of Never Dirty was awarded the Safest Community Platinum award by the CSP at the end of 2013.

In communities such as the ones the Citizen Security Programme (CSP) has partnered with in its initial pilot phase, leadership has been one of the key elements to the success experienced with the Programme’s methods.

In truth, the key to many of the achievements have been the leaders in communities and organisations who have stepped up to the plate and engaged the tasks head on.

The reason was simple, a community which had registered some twelve murders in 2008 and which had earned the reputation as one of the most dangerous places in the country, transformed its fortunes and registered no murders in 2012 or 2013. The result of collaborative efforts among CSP programming and the leadership of the major churches and community structures in the area, the story of Never Dirty is one which epitomizes the impact of strong, positive leadership. The strength to take up the challenge, the vision and the tenacity to stay the course are all facets of the leadership that ensured this transformation.

We can speak of youth leadership of the type exhibited by Tisha Mohan and Kesean Bascombe. Both were awarded special prizes by the CSP last year for the critical role they played in their communities. Kesean who hails from Quash Trace, Sangre Grande was the youngest person to chair his Community Action Council (CAC) as a Deputy Chairman.

His founding of the Quash Trace Management Council, an organisation of primarily young people saw improvements to the community being maintained youths, something previously not a part of the community’s landscape..

Tisha, of Farm Road, St. Joseph, is a young lady of stalwart character who during the meetings of her (CAC) often enquired about programmes that were designed for youth advancement. At a mere 18 years, Tisha was vocal enough in her encounters to have been placed on the committee which meets with the Land Settlement Agency to settle matters of land tenure for residents of her community.

Having ensured that opportunities were created for the youth of her community she didn’t stop there. During a sound reinforcement workshop sponsored by the CSP, Tisha braved inclement weather to mobilise youths in her

enter the location that he is from, yet they all send their children to him to learn the game and benefit from his discipline.

The ability to engender that level of trust and willingness to have one’s children take a path different than their own is only facilitated by an individual of uncommon character and good standing. Moving to the environs of the capital city another football coach went from being a new invitee to a meeting to being the Chairman of the CAC for his area. His ability to speak to the youth from warring factions within his community has been responsible for the discovery of many talented young people in sport, photography and even mediation.

During the five years of its operation in T&T the CSP has been graced with the experience of myriad situations of positive growth within communities. In the partner communities we have seen a 60% reduction in murders, more than a 40% reduction in woundings and shootings and a 40% decrease in sexual offences. We have witnessed the Throughout the length and breadth of the transformation of communities from hot spots communities that CSP has partnered with to the site of many cool things happening. there are examples of stalwart leaders who stand up and take that uncommon step to There has been the coming together of create light where it is most needed. Those communities which traditionally have been who answer the call to lend a hand and delve at odds for more than a decade. All of this is heart first into alleviating strife, teaching due to the work of people who have spared much needed life skills or giving opportunities no effort, and even suffered losses, to ensure which change lives. In Arima a school that the vision of a better place and a better principal facilitates a youth group that has quality of life for themselves and future taken young people through various generations was realised. They remain the experiences which shape their ability to adapt foundation of the programme and its drive to various challenges in life. Her dedication for community empowerment and to raising the standard of community conduct enhancement towards the goal of crime attracts assistance and sponsorhip from private reduction. It is no small feat that so much has citizens and businesses in her community. been accomplished in five years and will In another eastern community one gentleman continue to be accomplished by virtue of the teaches youth the game of football. Not only exceptional commitment given by the leaders has he produced stellar players who have at its core. contributed to the pool of national players but he bridges important gaps. There are residents Published in Partnership with the Citizens of surrounding communities who will not Security Programme

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