01242024 BUSINESS

business@tribunemedia.net

WEDNESDAY, JANUARY 24, 2024

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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BUSINESSES endured “an absolute frenzy” to meet Monday’s VAT payment deadline due to continued “growing pains” with the Department of Inland Revenue’s tax portal, it was revealed yesterday.

Accountants and the private sector disclosed to Tribune Business that some companies struggled to comply with the stipulated timeline for filing and

paying December’s VAT collection because the new tax administration portal was not accepting electronic payments via the likes of credit and debit cards.

Besides leaving many businesses fearing they could be hit with financial sanctions or penalties for not meeting Monday’s deadline, concerns were also voiced by service providers that the situation is delaying the collection of due taxes by the Public Treasury and thus disrupting the Government’s cash flow and ability to meet its own obligations in a timely manner.

A BID to develop a $1.3m “state-of-the-art” propane gas plant off Tonique Williams Highway was yesterday withdrawn before residents could seek to overturn the initial planning approvals it obtained.

Warren Davis, Nassau Propane’s general manager, informed the Planning and Subdivisions Appeals Board via an attorney’s letter that he agreed to the “immediate quashing” of the original site plan approval so that

t /BTTBV 1SPQBOF XJUIESBXT CFGPSF BQQFBMT IFBSJOH t 1MBOT UP TVCNJU AGSFTI BQQMJDBUJPO GPS JUT SFMPDBUJPO he could prepare a fresh application.

Alexander Christie, partner with the McKinney, Bancroft and Hughes law firm, wrote: “We have received instructions to act on behalf of the respondent, Nassau Propane Ltd, in the captioned matter.

“Without admission to the various grounds of appeal contained in the

appellant’s submissions, our client proposes to agree to the Appeal Board proceeding to immediately quashing the Town Planning Committee’s decision made on August 8, 2023, to enable the respondent to instruct its attorneys to submit without prejudice a fresh formal application for site plan approval for

relocation of its propane plant.”

Neither Mr Davis nor any member of the Blue Hills Estates Homeowners Association, which was seeking to overturn the original approval at yesterday’s hearing, could be reached for comment prior to press time.

The residents had previously been backed by Mario Bowleg, their MP and minster of youth, sports and culture, who said then: “There’s rules and regulations that govern these communities, and we just hope that the rules and regulations that

SEE PAGE B4

Attorney loses challenge to overturn disbarment

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN attorney yesterday lost his challenge to the process that saw him disbarred over real estate transactions where he twice represented both parties in deals for the same property.

Troy Kellman’s bid to overturn last year’s verdict by the Bar Council’s disciplinary tribunal, which ruled he “be struck from the roll” and forbidden to practice as an attorney, was branded “a bit hollow” and found to have “no merit” by a unanimous Court of Appeal judgment.

Sir Michael Barnett, the appeal court’s president, in a written ruling dismissed the now-former attorney’s arguments that he was denied “due process” and that the Bar Council’s ethics committee was not properly constituted when it decided to refer the complaints against him to the disciplinary tribunal.

The events that led to Mr Kellman being disbarred occurred more than a decade ago when he was instructed by the state-owned Bahamas Mortgage Corporation to prepare a mortgage for its borrower clients, Caleb Dorsett and Shamene Bain, in 2013.

Mr Kellman gave an opinion that title to the property, on which the mortgage was to be secured, was “good and marketable”. However, the Bahamas Mortgage Corporation accused him of “negligence” for failing to disclose that he was also representing Lion Management Company, which was the company selling the property to Mr Dorsett and Ms Bain.

SEE PAGE B5

BALMORAL CONDO HOTEL RENDERING

Balmoral condo hotel appeals may be joined

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE planning authorities will decide on February 15 whether to combine two appeals over the Balmoral Club’s plans to develop a condo hotel into one hearing.

The Sanford Drive community’s residents and the Balmoral Club’s developer were yesterday divided over the issue at the Subdivision and Development Appeal Board (SDAB) hearing. While the residents wanted to consolidate the two appeals into one, the developer objected.

Balmoral residents are seeking to overturn earlier approvals granted to the club for a four-storey condo hotel proposal, which they argue “threatens the integrity of the community” due to noncompliance with legal processes.

However, the Club developers are - via a separate appeal - attempting to overturn the Town Planning Committee’s (TPC) “baffling” rejection of their present $25m, eight-storey condo hotel expansion. The Committee

PRETINO P. ALBURY

Dexter Fernander, the Department of Inland Revenue’s operations manager, conceded to this newspaper that the new tax portal is suffering “growing pains” and experiencing “infrastructure issues at peak times” such as the 21st of each month when VAT payments are due.

While the Government’s main revenue agency is asking the system’s developer to provide “more bandwidth”, so that it can better cope with use and demand at

Controversial $1.3m propane plant agrees approval ‘quash’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

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rejected the 50-unit project on the grounds it was “incompatible” with land use development trends in the western New Providence community.

Khalil Parker KC, representing the homeowners and residents, told yesterday’s hearing that there was a “prospect for consolidation” of the various appeals and that he wished to exercise that option.

“For the record I would be making reference to the record in 18, even though that’s not the one we’re discussing,” he added.

“Because, when we’re talking about case management as the Town Planning meeting was conceived, it appears that they were treating - and are treating - with the current application, the subject of 18 and the rejection as a completely separate issue from the 15 decision that was made two years ago.”

But Dwayne Mortimer, the Balmoral’s Club president, said he was not prepared to deal with the homeowners action and wished to

SEE PAGE B6

SEE PAGE B4

CRAIG A. GOMEZ

Gov’t ‘on target’ for 60-day contract unveiling by March

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government’s top procurement official yesterday predicted that it will be “on target” to disclose all contract awards within 60 days - as required by law come March 2024.

Carl Oliver, the acting chief procurement officer and Ministry of Finance’s deputy director of economic planning, told Tribune Business that the Government plans to disclose all contract awarded via the Go Bonfire online portal for October and November 2023 by February.

Given that the current Public Procurement Act requires that details on government contract awards be published within 60 days of issuance, he explained that hitting this publication deadline will bring the Davis administration into compliance with the law’s demands.

“We’re not far away,” Mr Oliver told this newspaper of the 60-day disclosure requirement. “The information that was just published was from September 1, 2022, to September 30, 2023. The next submission will be for October and November. The deadline for November is the end of January.

“In February we will be providing information for October 2023 and

November 2023. After that, we will be on target.

We’re moving in the right direction, and myself, the financial secretary [Simon Wilson] and the minister [Michael Halkitis] are quite pleased with the results we are getting. We are on schedule for March.”

The original Public Procurement Act, which came into effect on September 1, 2021, but has now been repealed and replaced, required from that moment on that all government contracts be disclosed within 60 days of their issuance.

The Government was supposed to disclose the name and address of winning bidders, the procuring entity, the procurement selection method and the value of the contract.

The revised Public Procurement Act took effect on July 1 this year. The Government’s initial release of contracts awarded via the Go Bonfire portal provides the value of the awards, identifies the procuring entity and procurement vendor, plus the winning bidder, but provided no address for the latter or any further details.

That first release, which came in mid-October 2023, covered the nine months to end-June that year and detailed 843 contracts worth a total $140m. Yesterday’s release, which covers

SEE PAGE B6

PAGE 2, Wednesday, January 24, 2024

THE TRIBUNE

MINISTERS VIEW LANDFILL’S ECOLOGY TRANSFORMATION TWO Cabinet ministers have toured the former New Providence landfill to see how it is being transformed into a sustainable ecology park via recycling and other environmental best practices.

Vaughn P. Miller, minister of the environment and natural resources; and Zane Lightbourne, state minister for the environment, were accompanied by Launa Williams, the Department of Environmental Health Services (DEHS) acting director, and other government officials on their visit to New Providence Ecology Park (NPEP).

Felix Stubbs, the Ecology Park’s chairman, give the visitors a “closer look” at its efforts to introduce more sustainable environmental waste management practices. He also spoke about the landfill’s management and maintenance.

The tour included the Ecology Park’s ‘green waste’ section, which houses a $1.2m machine where heavy duty items such as pallets and old tyres are crushed and shredded.

The ministers were also shown how the material generated by this process is reused environmentally in areas such as construction and road works.

PICTURED from left at the New Providence Ecology Park are: Larry Wilson; Virginia McKinney, director; Sally Chisolm, DEHS; Jaime Strachan, human resources administration manager; Ken Kerr; Vaughn P. Miller, minister of the environment and natural resources; Zane Lightbourne, state minister for the environment; Launa Williams, acting director, DEHS; Ken Meronard, senior superintendent, DEHS; Felix Stubbs, chairman; Terrance Lord, operations manager.

Photo:Ministry of Environment and Natural Resources

The Government delegation was also shown the area where chemicals are stored, and informed how they are used to protect and enhance the site.

The New Providence Ecology Park was said to have transformed what was once an “open waste” dumping ground into a clean, safe and organised park where material is 100 percent compacted, capped and contained. Day-to-day activity on the site includes composting; construction debris and recycling; waste management; petroleum contaminated soils management; and used oil removal.

BAHAMAS STRIPING ASSEMBLES $200M INFRASTRUCTURE FUNDING THE Bahamas Striping Group of Companies says it has accessed a total $200m in financing to fund critical roadworks and other infrastructure projects throughout this nation.

The company, which is now in its 15th year after launching with a $5,000 ‘self-starter’ grant from the Government, added that it has attracted the funding from a mixture of

Bahamian, Caribbean and international lenders while also tapping the capital markets.

“We started with a government contract to provide road markings for traffic safety on New Providence and some of the Family Islands,” said Bahamas Striping’s president, Atario Mitchell, one of its two co-founders alongside Dominic Sturrup.

“We proved ourselves professional on all requisite job specs and business levels, and the Government was able to look favourably on our bids for further listed infrastructure projects.”

Bahamas Striping has credited its private-public partnership (PPP) with Sygnus Capital, a Jamaican investment house, for driving its expansion. The latter has provided the upfront

capital to finance the company’s public infrastructure projects, with monies to be repaid by the Government over a two to five-year period.

The PPP projects financed by Sygnus to-date include the $9m rebuild of the government complex in Eight Mile Rock, west Grand Bahama, plus $25m for the 45-mile Exuma highway improvement project that includes repair to seawalls and rain and flood drainage wells. The latter project is to be completed this year.

“Currently we are focused on the new PPP infrastructure project starting in February in support of the central and south Eleuthera water main, and 76 miles of settlementserving roads that connect to the remaining 90 miles,” said Mr Sturrup. “Also, work continues on the Nassau Village Community Centre on New Providence, which is up and running but still a work in progress.”

On each project where feasible, Bahamas Striping said it insists that most of the workers hired live in the area. And Mr Mitchell added: “Vital to the success of each project, and underlining our business objectives, is to outsource the work to local area companies.

“Everything we do is with community betterment in mind, and what better way than job creation and skills training opportunities? For instance, we believe that jobs for the younger generation may well help reduce the crime rate.

“For the major asphalt 76-mile roads redevelopment project in Eleuthera, we’ve contracted with Nu View Construction and Quick Fix Construction.

This provides local jobs with the local firms, and

ATARIO MITCHELL

DOMINIQUE STURRUP

ensures millions of dollars stay in Eleuthera. This is true for the Nassau Village Community Centre where we’ve contracted with 17 local businesses.”

Mr Sturrup, Bahamas Striping’s senior vice-president, said the company last year invited Sygnus Capital’s president to The Bahamas and took him to Exuma. “We felt it important he sees where his $25m is going,” he added.

“I wanted him to know, believe and see that 100 percent of his funding goes to the project. That he sees for himself the road project, the 47 employees, the community that the completed road will serve, and that will help boost prosperity and quality of life.”

Mr. Sturrup said the visit had boosted Bahamas Striping’s credibility as local financiers are now inquiring about doing business with it. “This is how it should be because local investments directly benefit our economy here,” he added.

“We have project managers, and detailed legal contracts with penalties that every sub-contractor signs, which include time limits and project milestones.

The project goal is to get it done on time and to budget.

So, you don’t want to see change orders.

“We do strict due diligence on the contractors.

They have a project manager on site, as do we, to ensure everything goes

according to the contract.

PPPs are all about time and cost. Discipline and supervision are needed. You can’t take your eye off the ball.”

Bahamas Striping has won the first Jones Communications Network (JCN) ‘Business of the Year Civil Society award’. “We are most appreciative of the nomination and win, especially as this is the first time they’ve had this award category,” said Mr Sturrup.

“Our work goals and objectives reached are not to win awards but to give back to our country. However, we do appreciate this one.

“We believe our company has a simple philosophy, ‘Open hands’, which means keep your hands open.

Money comes in and money comes out. As you give, you receive. We like to give back in meaningful ways to the community. Last year we held a swim programme at Fox Hill Community Centre where we taught 300 kids aged four to 14 how to swim.

“And for Thanksgiving, our ‘Let’s Make a Difference’ outreach provided our fifth feeding initiative by providing 10,320 meals to seven different islands simultaneously with logistical help from The Bahamas Feeding Network and many generous sponsors. And this year, we will repeat our ‘Let’s Make a Difference’ community benefit programmes.”

BTC blames traffic accident for eastern Nassau outage THE Bahamas Telecommunications Company (BTC) yesterday blamed a traffic accident for causing a system outage that affected customers in several eastern New Providence communities.

The carrier, in a statement, said services were expected to be fully restored by yesterday evening after critical equipment - including one of its main fibre optic communications lines - was damaged in the incident.

Drexel Woods, BTC’s director of technical operations, said: “A vehicular

accident damaged one of our main fibre lines, which resulted in an outage affecting customers in the Soldier Road, Village Road, Marathon Road communities and adjacent areas.

“Our technicians have worked around the clock, and we anticipate that services will be completely restored to all customers this evening. Our team is also examining mitigation efforts to lessen the risk of further outages. We apologise for the inconvenience to our residential and business customers, and we appreciate your patience as

our teams work diligently to have this matter resolved.”

Mr Woods also confirmed that a fibre break on Andros has impacted BTC customers on North Andros, Stafford Creek, Nicholls Town, Mastic Point, Red Bays and at BARC (The Bahamas Agricultural Research Centre).

“We have deployed additional resources to Andros today to fast-track repairs, and we expect that service to these areas should also be restored by Wednesday,” Mr Woods said.

THE TRIBUNE

Wednesday, January 24, 2024, PAGE 3

APPROVAL DELAYS COST EX-OLYMPIC SWIMMER

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net PLANNING authorities yesterday informed a former Olympic swimmer that there are no legal restrictions that can block the proposed expansion of his Rose Island beach day excursion.

Christopher Vythoulkas, developer of the Piggly Wiggly Bar & Grill, was told by the Subdivision and Development Appeals Board (SDAB) that he faces no such obstacles despite opposition from some of his neighbours.

Rose Island was zoned for commercial development and, despite the presence of residential homes, there are no zoning or other barriers to his plans.

Larry Treco, president of CGT Contractors & Developers, whose property is

next door to Mr Vythoulkas’, said he does not want a bar and grill next door because of the crowds it would attract.

The Board asked if he would be satisfied with restrictions on Piggly Wiggly’s operations, and assurances that these would be observed. Mr Treco gave no objection aside from cautioning that restrictions are often disregarded and end up being useless in trying to control people’s behaviour.

Mr Vythoulkas then named several other beach bar and grills on Rose Island that were allowed to develop over the years, and said: “Mr Treco never had objection to any of them.”

He alleged that there are bar-type operations on Mr Treco’s property, to which Mr Treco agreed but said that it was for private use and not commercial or open to the general public.

Mr Vythoulkas said his venture is for private charters only, which may only have up to 30 guests maximum. He added that he has lost business over the past year due to the delay in obtaining planning approval and Mr Treco’s objections, causing him to lose contracts with Rosewood for excursion events.

The former swimmer, who represented The Bahamas in the summer games in Athens in 2004, said two other bar and grill operations have opened up on Rose Island over the past 16 months replicating what he is seeking to do with Piggly Wiggly.

Mr Treco acknowledged this, and he and another resident of Rose Island, Greg Tremblay, said they have no interest in any excursion or bar and grill on Rose Island except for the fact that the latter allows a family member to use his property to host

events from time to time. A further hearing is scheduled for February 2.

In his January 23, 2023, letter to the Town Planning Committee outlining the project, Mr Vythoulkas said the venue would not be used to host “concerts, events or loud obnoxious parties”. Disclosing that he has all other necessary approvals, including those relating to food and health and sanitation, he added that he was merely expanding the services available at a beach location to where he already brings cruise passenger clients.

Disclosing that Piggly Wiggly Beach Bar & Grill will be located on Rose Island’s lots 23 and 24, he added that one of these land parcels was already owned by his family while a lease agreement has already been executed for the other. “As per the conveyance, there are no restrictive covenants or conditions and there

are currently four existing beach bars with food and beverage operations on Rose Island,” Mr Vythoulkas wrote.

“Piggly Wiggly Beach Bar & Grill will operate to serve food and beverages to guests of our existing private charter boat business.

Our charter boat business operates two scheduled daily tours where we collect our booked guests from the cruise ships. Each charter group enjoys a brief tour of Nassau and Paradise Island before venturing to Rose Island to sightsee and enjoy the beach.

“As we do currently stop at lot number 23 Rose Island for our beach time/ swim tour of each tour, we now wish to simply prepare and serve our guests a grilled/BBQ lunch and beverages before returning them to port. There are existing structures on the property which were built in 1986 and are well

maintained.

We have obtained approvals from the police, sanitation and food and health for the site, handling, preparation and sale of food and beverages.

“At no time will Piggly Wiggly Beach Bar & Grill be an operation open to the general public, and we will not be hosting concerts, events and loud, obnoxious parties. Specifically, relaxation and the beauty of The Bahamas is the focal point of our charter/excursion experience.”

Mr Vythoulkas said the operator also plans to partner with the Bahamas Reef Environmental Educational Foundation (BREEF), Bahamas Air and Sea Rescue, the Bahamas National Trust and the Bahamas Meteorological Department, with the the latter placing a weather station and video cameras at the site to help monitor weather conditions for private and small vessels.

BAHAMAS LOSING BOATING Charter Yacht Show to GROUND TO THE CARIBBEAN feature 60% more boats

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net A FORMER Association of Bahamas Marinas (AB) president yesterday warned Caribbean rivals are gaining a competitive advantage over The Bahamas with “new and innovative” legislation.

Peter Maury, who operatesBay Street Marina, told Tribune Business that the likes of the British Virgin Islands (BVI) have adopted procedures that allow yachters to receive charter licences in 24 hours and have lower fees that can entice visitors to their shores.

He said: “I think the Caribbean is our biggest competitor and they’re growing at a faster rate than The Bahamas due to some of the new and innovative legislation.

“The newest one is BVI. I mean, BVI’s opened up to the yachting industry and looking at a 24-hour turnaround as far as getting registered, charter licence and taking guests throughout their country, which isn’t as vast as ours but, at the same time, it’s relatively low fees.

“The fuel is cheaper, resources are cheaper, groceries and stuff like that.

So, when people are shopping on vacations, they want bang for their buck.

They don’t want to waste it in a bunch of red tape and bureaucracy and messing around on portals and everything else,” Mr Maury added.

“So I think BVI recognise that and get the customer

going and keep them happy, and then they’ll return. I mean, we need to do the same thing. We’re kind of going backwards in that respect.”

Mr Maury added that government should give considerations to improving the ease of doing business, and said the Business Licence process can be extremely time consuming.

He said: “We need to seriously consider legislative changes and ease of business. We have a lot of things that we’re faced with as businesses in this country right now that are very time consuming, and especially this month, and it’s a waste of valuable time.

“The majority of businesses aren’t accounting firms. We’re operators, so we need to make that easier so that we can go to the business of doing business and obviously government benefits from that.”

Mr Maury said the taxes that have been applied to the boating industry are “ridiculous” as they came with no benefits such as improved navigational aids. He said the increased fees have discouraged visitors from staying for an extended period of time.

He said: “As a Bahamian, I understand the ridiculous price increase we got nothing for it. We went up 1,000 percent but there’s no navigational aid, nothing got better so it seems like a crazy waste of money.

“The same thing could be said in the yacht industry.

The Government went and put in 10 percent VAT, which is really a tax because you can’t claim any throughputs. So, through

consumerism, they don’t even benefit. It makes no sense.

“They spend money in the country, and there’s absolutely no benefit to it, which is exactly the opposite of what VAT is supposed to do. So, in that respect, I think we’ve made a huge mistake because we’ve encouraged folks to not to stay as long and to come over with their own resources as far as inventory and whatever else.”

Mr Maury added that he has seen a decrease in the amount of yachts on Family Islands, while policymakers have chosen to not include industry players in their decisions.

He said: “We’ve seen shorter stays and less consumer products. I mean that’s exactly the opposite of GDP growth. So the economics of it, although in the think-tank they may have thought that this would work, but it’s worked the exact opposite and encouraged people to not stay as long “We definitely noticed a difference in it. Even some of the distributors. We’ve had people come into the marina and say ‘why aren’t you guys using our services any more?

“I was just in Harbour Island and they probably had, between three major marinas, they probably had a total of 18 boats. It was kind of sad to see it this time of the year, but you know, I’m not the one that makes those decisions and decision makers aren’t listening to the industry, so I guess we’re kind of screwed.”

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE Bahamas Charter Yacht Show is this week returning for its secondyear from January 25 to 28.

Peter Maury, former Association of Bahamas Marinas (ABM) president, said this week’s event will feature 60 percent more boats than the inaugural show and focus on encouraging yachters to visit all of The Bahamas’ islands.

Speaking to Tribune Business, Mr Maury said a number of yacht management companies and

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brokers have indicated they will be attending.

He said: “We are actually doing quite well. We have more boats than we did last year by about 60 percent. We’ve reached out to a number of brokerages, yacht management companies, yachts and are encouraging them to come in to show them that, as a country, we are looking forward to them visiting our Family Islands.

“That’s our biggest selling point right now. We’re trying to get the boats to come over and visit all of our island groups.” Mr Maury added that over 40 Bahamians companies will participate in the event

and guests will be housed at the British Colonial and Margaritaville, the partner resorts.

He said: “We have probably 40-plus Bahamian companies involved from sponsor levels to participants. We have over 150 brokers that are coming, which is obviously room nights with the hotels. We partnered up with Margaritaville and British Colonial for that.

“We’re excited. We have a good venue and some cool events planned for them, and we’re relatively close to the North American market so we have quite a few brokers coming over.”

PAGE 4, Wednesday, January 24, 2024

THE TRIBUNE

‘Absolute frenzy’ on VAT over tax portal struggles FROM PAGE B1 deadline time, he added that too many companies “wait for the last day” before they pay their VAT and other taxes.

And Mr Fernander said complaints that companies cannot pay online is “not a good excuse” when they are aware that two other options - wire transfers or a physical visit to a Royal Bank of Canada (RBC) branch - are open to them.

He promised that the Department of Inland Revenue will address legitimate concerns with the functioning of its new tax portal system as they are brought to its attention, with the Bahamas Institute of Chartered Accountants (BICA) president telling this newspaper that problems “keep coming over and over”.

Pretino P. Albury compared the situation to “when you squeeze something, and something on the other side pops open. As soon as you lock it down, something else opens”.

He added that BICA had raised the issues its members, working on behalf of corporate clients to make tax filings and payments on their behalf, had experienced with the tax portal when it met the Department of Inland Revenue last week.

“We did raise it a week ago, last week Thursday, and they took all the information we gave them down and said they are going to address it. We are hoping it will be addressed. Maybe they’ve addressed some of them, but other things are happening,” Mr Albury told Tribune Business.

Besides the difficulties paying VAT electronically via the tax portal, the BICA president said other challenges related to the fact tax credits owed to companies are no longer visible in their statements and they now have to “apply and call for it”. Some companies and service provider intermediaries are still struggling to log and sign in, with the uploading of VAT-related information proving to be another concern.

“It just keeps coming over and over,” Mr Albury said, adding that companies are now unsure whether they are making tax filings and payments correctly because the system - which underwent an upgrade in December 2023 - no longer consistently provides acknowledgements and receipts.

He added that the tax portal also seemed to slow down and “keep spinning” at “certain times in the day and night” when usage is at its height. “The Department of Inland Revenue will probably say you’ve waited for the last minute to do it,” Mr Albury said, “but either way, if you’re a last minute person or not, you need to make sure the facility to be able to submit is working.

“It’s an issue. Then you have got Business Licence filings coming on January 31. We’re hoping they’ll fix this situation with the portal. Time is coming fast and firm. Deadlines are coming.” The BICA chief said members have been hearing “a lot of disappointment” from the private sector over the timing of the portal’s upgrade so close to

VAT and Business Licence filing deadlines.

“This is one of the busiest times for the Department of Inland Revenue,” Mr Albury added. “Everything is at the same time, and now people are saying they have to deal with the impact of this technology that doesn’t work. Couldn’t it have been rolled out in summer last year?

“It’s just very unfortunate timing; very, very unfortunate, and still we have this demand for deadlines.

That’s a huge concern; very, very big. That deadline was today [Monday for VAT], and you can just imagine what is going on. People are trying to get stuff in, submit it. It is an absolute frenzy right now; lots of late nights and early mornings. The deadline’s the deadline, and we’re trying to get through it.”

Mr Albury said BICA members have been collaborating to help and advise each other, passing on experiences and information as to how they overcame particular problems with the tax portal as well as sharing Department of Inland Revenue contacts who can advise and help.

Craig A. (Tony) Gomez, the Baker Tilly Gomez accountant and partner, told Tribune Business yesterday that tax-compliant businesses were fearful of being fined for missing January’s VAT payment deadline due to struggles with the tax portal and added: “It simply just doesn’t have to be this way.”

With VAT accounting for 48 percent of the Government’s 2023-2024 tax revenue projections,

he warned that the situation could also impact its cash flow and the Public Treasury’s ability to meet its obligations in a timely manner.

“The impact would be that no entity truly appreciates having to scramble close to deadline,” Mr Gomez said. “Deadlines are supposed to be reasonable and achievable, and the mere fact that many good corporate citizens, many compliant corporate citizens are trying in earnest to achieve the deadline and there are several hurdles to overcome as they relate to the filing system that have occurred, that does not allow for compliant business owners and entities to make proper filings for VAT and Business Licence compliance.

“When systems like this are implemented, it must be seen by those who have implemented them to ensure they are without roadblocks and hurdles; that both sides can make the filing and the Government receives its taxes.

“We are certain that the system issues and hurdles will be resolved because the Government, or the Department of Inland Revenue, and the country are in need of those taxes and will do whatever they have to do to make sure the filings are complete,” Mr Gomez added. “It simply just didn’t have to be this way.

“All the service providers, particularly the accounting firms and accounting professionals, are moving with extreme haste to ensure their clients are compliant with the new regulations, file on time

and remain in good standing with the Department of Inland Revenue.”

Timothy Ingraham, the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chairman, told Tribune Business that the private sector body has “heard of some continuing issues” with the tax portal. “We have requested information on specific issues brought to our attention by members,” he added “We will continue to engage the Department of Inland Revenue in the best interest of our members.” Mr Ingraham said the Chamber had provided its members with contact details for the Department of Inland Revenue, which was holding training sessions to take companies through the new process.

Mr Fernander, confirming the provision of training, said: “A lot of individuals wait for the last day with VAT. We admit we are having some infrastructure issues at these peak times, and we are asking the developer and others agencies within government to have more bandwidth to accommodate more people at the same time.”

As for complaints about the difficulties in making due VAT payments electronically via the portal, he added that companies know they have two other options using wire transfers and RBC branches. “To say you cannot pay VAT online is not a good excuse when you have two other options,” Mr Fernander argued.

“The information is there, so we’re a little concerned when people say

CONTROVERSIAL $1.3M PROPANE PLANT AGREES APPROVAL ‘QUASH’ FROM PAGE B1 govern prevail. I mean, it’s unfortunate that a propane company would want to bring that type of organisation or business within the community of what I call a lot of retirees.

“That community itself is based on a lot of persons who built their homes to retire and rest well as they go towards their twilight years, and so to have something like that try to move into a community like Baillou Hills Estates, which has been around for a very long time, is just very unfortunate.”

Documents filed with the Department of Physical Planning show Nassau Propane had initially intended

to move just one block to the corner of Bozine Road and Tonique Williams Highway, but switched its focus to the current site at Chapel Drive in Blue Hills Estates following prior objections from the planning authorities.

The Town Planning Committee gave the new location the go-ahead even though Department of Physical Planning officials raised questions about the propane plant’s “compatibility with its neighbours”.

Jehan Wallace, the Department’s chief physical planner, in a June 2023 paper for the Town Planning Committee, said a church, school and other commercial businesses are located nearby while a “multi-family

housing structure is 120 feet to the west” of Nassau Propane’s proposed boundary.

“The applicant is seeking planning approval to relocate Nassau Propane to a 22,500 square foot site located on Chapel Drive off the Tonique Williams Highway. The site is currently vacant,” Ms Wallace wrote.

“The company is currently located a half-a-mile west of the proposed location behind Ron’s Auto. However, they need to relocate and wish to stay in the same location [area] they have serviced for the past 22 years.

“The applicant hopes to enter into a long-term lease agreement with the owner of the proposed location for a space to create the same

scope of their existing business.” However, she noted the proximity of Nassau Propane’s proposed new site to other ventures in the area.

“Uses in the area include a church, school and other commercial business,” Ms Wallace said. “There is one multi-family housing structure 120 feet to the west of the proposed western boundary of the site.

Even though the use currently exists in the area, it is the only industrial use and the Department has concerns about the compatibility of the use to its new neighbours.”

Mr Davis, in a previous interview with this newspaper, said that relocating to the new site will enable

the company to upgrade its facilities, expand its services and hire more staff. “The primary reason is that the facility that we propose to build will be a state-of-theart plant. We’ve been at the current location for 23 years and never had any issues, but it’s time to go ahead and upgrade the facility,” he added.

“Especially with Nassau Propane, and a plant like Nassau Propane, it’s very important to continue to upgrade your facility. Our intent is to move so that we can offer customers, and Nassau at large, much better service. That’s why we selected this particular location. There are no homes there and we have

they cannot make VAT payments. Unfortunately, a lot of people individuals choose last minute and get returns in on the 21st.”

While the tax administration portal may have been upgraded, the VAT return forms have not, and Mr Fernander said the tax authority is committed to addressing all concerns brought to its attention.

“Hopefully we’ll get over these growing pains with the introduction of the new system for the people of The Bahamas,” the Department of Inland Revenue operations manager said.

As for the complaint that some firms still have yet to receive their credentials for logging in to the new system, Mr Fernander suggested these woes stemmed from issues beyond the agency’s control.

Dormant or inactive e-mail addresses, he explained, meant that companies and entrepreneurs did not receive the December notification about the migration to the new system. More than 51,000 such notifications have gone out via e-mail, but some went to agents and thirdparty providers who had set up addresses for taxpayers rather than the companies themselves.

Some 513 taxpayers with old Cable Bahamas “Coralwave” addresses were among those that the Department of Inland Revenue struggled to reach, Mr Fernander said, as he urged companies still experiencing difficulties to contact the agency. “We have staff working overnight to address these e-mails and get them out,” he added. several acres of encumbered land. We felt it was a great location.”

Mr Davis argued that the chosen site is superior to the Gladstone Road area, where many of Nassau Propane’s rivals are based, because their locations are becoming increasingly surrounded by residential housing developments.

He said the new Nassau Propane plant will be designed to US National Fire Protection Association (NFPA) standards, and international designers who have worked on “much larger plants” - including in Texas - have been hired to put the facility together.

The move would result in Nassau Propane’s workforce expanding from eight persons to 12.

NOTICE BAHAMAS BUSINESS VENTURES LIMITED Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the abovenamed Company has been dissolved and struck off the Register pursuant to Certificate of Dissolution issued by the Registrar General on the 7th day of December, 2023.

ROBERTS ISAACS & WARD NOMINEES LIMITED Liquidator

NOTICE TITAN INDUSTRIES LIMITED Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to Certificate of isso ution issue the Registrar enera on the th a of ece er 2023.

ROBERTS ISAACS & WARD NOMINEES LIMITED Liquidator

N O T I C E

N O T I C E

LYFORD GROUP INTERNATIONAL LTD. (Dissolved)

CRIOLLO HOLDINGS LIMITED

NOTICE IS HEREBY GIVEN that pursuant to Section 138(8) of the International Business Companies Act, 2000 (No. 45 of 2000) the dissolution of LYFORD GROUP INTERNATIONAL LTD. (Dissolved) (the “Company”) has been completed and a Certificate of Dissolution has been issued by the Registrar of Companies. The Company has been struck off the Register of Companies with effect from the 27th day of December, 2023.

NOTICE IS HEREBY GIVEN that pursuant to Section 138(8) of the International Business Companies Act, 2000 (No. 45 of 2000) the dissolution of CRIOLLO HOLDINGS LIMITED (Dissolved) (the “Company”) has been completed and a Certificate of Dissolution has been issued by the Registrar of Companies.

The Company has been struck off the Register of Companies with effect from the 22nd day of December, 2023.

___________________________________________

___________________________________________

TONI Y. GODET and CELESTE F. MITCHELL Liquidators

(Dissolved)

TONI Y. GODET and CELESTE F. MITCHELL Liquidators

THE TRIBUNE

Wednesday, January 24, 2024, PAGE 5

ATTORNEY LOSES CHALLENGE TO OVERTURN DISBARMENT FROM PAGE B1 In other words, Mr Kellman was acting for both parties in the same real estate deal. The Bahamas Mortgage Corporation alleged that he failed to secure its interest, as neither the conveyance nor mortgage were stamped and recorded in the Registry of Records, while also not completing a the first-time buyers’ Stamp Tax exemption application on the buyers’ behalf.

Finally, the state-owned lender alleged that Mr Kellman was also aware that Lion Management “did not pay the balance of the purchase price” when it itself acquired the property from Colina Insurance Company. The latter, and its Colina Mortgage Corporation affiliate, echoed the Bahamas Mortgage Corporation in making a separate complaint to the Bar Association’s ethics committee over that same property.

“The basis of the complaint is that you represented the complainant as vendor, and Ricardo Rolle as purchaser, in a transaction in 2012,” the ethics committee told Mr Kellman. “That you have failed to complete the transaction on behalf of the complainant. That subsequently it was discovered that you recorded the conveyance to the purchaser and failed to ensure that Colina was paid the purchase price.”

Summing up the situation, Sir Michael wrote the the Court of Appeal’s judgment: “Two complaints were made to the Bar Council against the conduct of the appellant.

The complaints were made by the Bahamas Mortgage Corporation and Colina Mortgage Corporation.

“The complaints related to the conduct of the appellant whilst acting as an attorney on both sides of a real estate transaction. With respect to Colina, that company agreed, as mortgagee, to sell a parcel of land to Ricardo Rolle or a company beneficially owned by him.

“With respect to Bahamas Mortgage Corporation, the dispute related to a mortgage loan by Bahamas Mortgage Corporation to a purchaser of the land from Rolle or a company beneficially owned by him (Lion Management Company).

The appellant acted as counsel for Bahamas Mortgage Corporation in that mortgage transaction.”

Sir Michael, though, noted that the merits of the complaints were not the subjects of Mr Kellman’s appeal. Rather, it was the process employed by the Bar Association’s ethics committee and disciplinary tribunal that led to the latter’s February 2023 disbarment verdict.

He added, though, that Mr Kellman never responded to the two letters sent to him by the Bar’s ethics committee on November 22, 2019, and October 9, 2020. These set out the complaints by the Bahamas Mortgage Corporation and Colina, respectively, and gave him until December 16, 2019, and October 23, 2020, to reply.

Both letters warned that the committee may make a decision on the complaint

NOTICE NOTICE is hereby given that MARIO PIERRE of Misty Garden, Nassau, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that WALTER HARRIS of P.O. Box General Delivery East Street South, Nassau, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 24th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that CARMELITA SOLIVERT of P.O Box EE-16652 #2 Ciera Close, Nassau, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 24th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that JEAN-ROBERT JOSEPH of Highland Drive, Nassau, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 24th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

if Mr Kellman failed to respond. And, on June 1, 2020, the ethics committee told him it had “determined that there exists reasonable grounds for the making of the complaint against you, and has referred the matter to the disciplinary tribunal” in relation to the Bahamas Mortgage Corporation filings.

As for Colina’s complaint, Mr Kellman received a second warning letter that gave him a further six days until November 30, 2020, to respond. And, on December 22 that same year, he was informed that the second accusation was also being referred to the disciplinary tribunal according to the Legal Profession Act. The tribunal panel, headed by Justice Renae Mackay and featuring attorneys Stephanie Unwala, Alexander Maillis and James Bain, began hearing the complaint in May 2021. At no time during the hearing did the appellant challenge the jurisdiction of the disciplinary tribunal to investigate the complaint,” Sir Michael noted.

“The appellant agreed that the two complaints from Bahamas Mortgage Corporation and Colina could be heard together....

On February 8, 2023, the disciplinary tribunal published a judgment whereby it ordered that the appellant be struck from the roll forthwith.”

Maurice Glinton KC, acting for Mr Kellman in appealing this decision, made clear that they were not challenging the substance of the complaints against the latter but, rather, the process by which the tribunal had come to its decision.

Instead, they attacked the verdict on the grounds “that it had no jurisdiction to determine any complaint referred to it by an ethics committee which was improperly constituted”.

This was based on the argument that “a retired justice of the Supreme Court cannot be a member of the ethics committee”.

Retired justice Rhonda Bain chaired the ethics committee which referred the complaints against Mr Kellman to the disciplinary tribunal. However, Sir Michael said the Legal Profession Act stipulated that all persons allowed to practice as attorneys for more than five years are eligible to serve on the ethics committee. And retired justice Bain had practiced for more than ten years before becoming a judge.

Mr Kellman sought to argue that a judge “ceases to be a member of the Bar” upon their appointment to the bench, and thus retired justice Bain’s appointment as chairman meant the ethics committee was “invalid” and “illegally constituted” when it dealt with his complaint.

However, Sir Michael and the Court of Appeal disagreed. “Being a judge does not immunise a person who is a counsel and attorney of the Supreme Court from being disciplined by the Bar Council for improper conduct,” the appeal court president wrote.

“In my judgment, there is simply nothing in the Act which prevents a retired judge from serving on the ethics committee. That judge is still a counsel and attorney of the Supreme Court and thus, by section three, a member of the Bar. This is so whether or not the retired judge practices by appearing before the court... In my judgment, the challenge to the constitution of the ethics committee must fail.”

Mr Kellman also argued he was “denied due process” by the ethics committee as it “failed to notify him of the hearing at which a decision would be made whether to reprimand him or refer the matter to the disciplinary tribunal”. He insisted that it was a legal requirement to notify him of the hearing and give him a chance to argue his case.

“The fact that he did not respond to the letters from the ethics committee did not eliminate or obviate the need for the ethics committee to have a hearing for which he was entitled to notice before making any determination on the complaint against him,” Sir

Michael noted of Mr Kellman’s arguments.

However, he ruled: “The complaint by the appellant is a bit hollow. The appellant never replied to any of the letters from the ethics committee indicating that it was his desire to contest or be heard on the subject of the complaints.

“Moreover, at the hearing before the disciplinary tribunal, he had an opportunity to respond to the complaints and he did so. He put in a witness statement and had the opportunity to cross-examine the witnesses for the complainants.

“He never challenged the jurisdiction of the disciplinary tribunal to investigate the complaints. The appellant has not in any way been prejudiced as he had an opportunity to make representations to the ethics committee and he refused to respond to the ethics committee’s letters.”

Mr Kellman also complained that the disciplinary tribunal relied to heavily on the Supreme Court verdict by former justice Keith Thompson, which dealt with the same real estate transactions, and did not sufficiently carry out its own investigation.

This, though, was dismissed by Sir Michael who found it had carried out its own independent probe.

And he also rejected Mr Kellman’s argument that he was “denied the effectiveness of his right to appeal” by publication of the disciplinary tribunal’s decision against him prior to the Court of Appeal hearing.

NOTICE

NOTICE

NOTICE is hereby given that LIVITA DEZULME of Wilton Street, Nassau, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 17th day of January 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that AMELIA HANSON of P. O. Box SS-6899, Gladiator Road, Stapledon Gardens, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 24th day of January, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PAGE 6, Wednesday, January 24, 2024

THE TRIBUNE

GOV’T ‘ON TARGET’ FOR 60-DAY CONTRACT UNVEILING BY MARCH FROM PAGE B1 up to end-September last year, effectively covers the three-month period that comprises the third quarter.

Based on the information provided, it showed a further $18.5m in contracts were awarded over the three months to endSeptember 2023. This took the total value of contracts awarded for the 13 months since September 1, 2022, to $158.477m, but not all agencies, ministries and departments were included in the list or that figure.

Mr Oliver yesterday confirmed that state-owned enterprises (SOEs) such as Bahamas Power & Light (BPL) and Water & Sewerage Corporation, which are major contract issuers, “haven’t been given the green light yet” to use the Go Bonfire platform

because training of the relevant executives is ongoing and they are still getting to understand which procurement method to use.

He estimated that the SOEs should be ready to start using the procurement portal by “late February” or early March, again acknowledging the challenges in changing the culture and “status quo” where successive administrations have disclosed minimal details on public contact awards.

The Government has frequently come under attack from Michael Pintard, leader of the Opposition, and other members of the Free National Movement (FNM) who have accused it of deliberately failing to comply with the Public Procurement Act and especially its provisions demanding greater disclosures,

openness and transparency around the awarding of government contracts.

But Michael Halkitis, minister of economic affairs, late last year asserted there was “never any sort of desire or intention to circumvent” the Public Procurement Act’s requirements as he blamed any non-compliance on the need to put in place supporting infrastructure.

He added that the Davis administration has had to ensure public officials are fully trained and equipped to implement the Act’s legally-mandated requirements. It has also had to appoint a chief procurement officer, and implement the necessary software.

“In order to really effect it, there was a large infrastructure that had to be put in place at the back end of it,” Mr Halkitis said

of the Act. “For example, the appointment of a chief procurement officer, the training of procurement committees in not only the Ministry of Finance, but in every single ministry and government agency. We’re talking about IT, acquiring the IT and getting people trained up on it, and so that is what we have been doing for the last, you know, 18 months.

“We are at a position right now where we have just about completed the training. And there are some of the contracts that have to be uploaded. We think we are almost at a position where those are completed. So, you know, we will begin to do that. We can look for that in the coming weeks.”

Mr Halkitis added: “But I would just like to say this now. [There] never was any

sort of desire or intention to circumvent but, you know, it’s very, very easy to go into Parliament and pass a law and say we’re doing this and doing that. You know, we see a number of pieces of legislation where we have to go back now.

“At the back end of it, there are a lot of

requirements that we had to do. So the public will see that very shortly. We’re committed to doing it, those few agencies that have not fully uploaded. We have people working on that now to get that done as soon as possible. So you’ll see that shortly…definitely before the end of the year.”

Balmoral condo hotel appeals may be joined FROM PAGE B1 move ahead with his appeal over the 50-unit condo hotel’s rejection.

The appeals board created two dates, with February 15 an exploratory hearing to consider if a joint hearing would be feasible. If not, the residents’ appeal will be held then, with March 15 asigned to deal with the developer’s appeal.

Mr Mortimer was asked if he wanted to bring an attorney with him for both appeals, and he said he would make an attempt to have one for the February date, but was uncertain if one will be present in March appeals date.

The Balmoral Club, in February 2022, did obtain approval for a condo hotel that was half the height of the rejected application at four storeys and targeted at a different location. That approval, though, was obtained without a full public hearing on the application. The Balmoral Club then sought a “deviation” from the early 2022 decision in its bid to gain approval for the larger version.

Tribune Business sources, speaking on condition of anonymity, said Balmoral residents and homeowners were unaware of the four-storey proposal or the original Town Planning

Committee approval from 2022 until the expansion to eight storeys required that the project be published in the newspapers and a public hearing held.

Keenan Johnson, the Town Planning Committee’s chairman, earlier confirmed to Tribune Business that site plan approval for the eightstorey option was refused because the project’s scale and “height in and of itself” did not fit with the existing gated residential community on Sanford Drive.

He explained, though, that the rejection of the eight-storey proposal does not impact the previous approval granted to the Balmoral Club’s four-storey version in February last year.

“Last year February they made a request for four storeys, which was approved,” Mr Johnson said, “and then requested a variation to eight storeys.

“The public hearing was about the application that we received for eight storeys. They had already been approved for four storeys.

This approval only lasts for a particular period of time that they have to act on it. If they do not move ahead with the development for four storeys in a particular timeframe, that approval will expire and they will have to register for re-approval.”

NOTICE

NOTICE

Treasure Bay Company Limited

STARDUST INTERNATIONAL LIMITED

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Treasure Bay Company Limited has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of STARDUST INTERNATIONAL LIMITED has been completed and the company has been struck from the Register on the 7th day of December 2023.

Baird One Limited Liquidator

D & T Nominees Limited Liquidator

NOTICE

NOTICE

NOTICE

RAMLOS HOLDING COMPANY LIMITED

ARLESEY ENTERPRISE S.A.

SITKA HOLDINGS SA

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of RAMLOS HOLDING COMPANY LIMITED has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of ARLESEY ENTERPRISE S.A. has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of SITKA HOLDINGS S A has been completed and the company has been struck from the Register on the 24th day of November 2023.

Baird One Limited Liquidator

Baird One Limited Liquidator

DELCO INVESTMENTS LIMITED Liquidator

NOTICE NOTICE

NOTICE

Camelia & Co. Ltd.

Legby Corporation

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Camelia & Co. Ltd. has been completed and the company has been struck from the Register on the 7th day of December 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Legby Corporation has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of LA CHACRA LTD. has been completed and the company has been struck from the Register on the 24th day of November 2023.

Baird One Limited Liquidator

DELCO INVESTMENTS LIMITED Liquidator

Baird One Limited Liquidator

LA CHACRA LTD.

NOTICE NOTICE

NOTICE

CHILIAD INC.

Yeargood Company Limited

SEMORAN INVESTMENTS LTD.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of CHILIAD INC. has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Yeargood Company Limited has been completed and the company has been struck from the Register on the 24th day of November 2023.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of SEMORAN INVESTMENTS LTD. has been completed and the company has been struck from the Register on the 7th day of December 2023.

Baird One Limited Liquidator

DELCO INVESTMENTS LIMITED Liquidator

D & T Nominees Limited Liquidator

PAGE 8, Wednesday, January 24, 2024

THE TRIBUNE

Netflix’s gains 13M new global 4Q subscribers as it unwraps its best-ever holiday season results

By MICHAEL LIEDTKE A P Technology Writer NETFLIX registered its third-consecutive quarter of accelerating subscriber growth in the final three months of 2023, closing out a comeback year that included a crackdown on viewers freeloading on the video-streaming service and a smattering of price hikes.

The fourth-quarter results announced Tuesday provided further evidence that Netflix was able to come up with a formula that produced a spike in subscribers even as it became more expensive to watch its lineup of TV shows and movies.

Netflix signaled it will try to justify the higher subscription prices — and perhaps reel in more advertisers to a low-cost plan that includes commercials — with a $10 billion deal announced Tuesday that will bring the popular wrestling program, WWE's "Raw," to its service.

That weekly show, set to move to Netflix next year, will supplement a smorgasbord of TV shows that include the likes of

the Emmy-award winning black comedy "Beef" and the Oscar-nominated film, "Maestro."

Drawing cards like that helped the Los Gatos, California, company add 13.1 million worldwide subscribers during the October-December period, well above analyst projections, according to FactSet Research. The holiday season gains — the biggest Netflix has ever posted in the fourth quarter — exceeded the 8.8 million additional subscribers that Netflix posted in the JulySeptember period, which in turn jumped above the numbers recorded in the quarter starting the year.

The rising tide of customers left Netflix with more than 260 million global subscribers at the end of 2023 — an annual increase of nearly 30 million subscribers. Last year's performance was a stark contrast to 2022's increase of 8.9 million subscribers — a lackluster showing that raised questions whether the video-streaming pioneer was losing steam amid stiffening competition for viewers.

Netflix's strategy has been a hit with Wall Street, reflected in a 65% increase in its stock price last year while shares of other media giants such as Walt Disney Co. and Warner Bros. Discovery have struggled to prove they can make money from their video-streaming services. The company's shares rose more than 8% in Tuesday's extended trading after its fourth-quarter numbers came out.

Netflix "is ahead of peers with new revenue streams, and no one can compete with its technology platform, programming, and global distribution," CFRA Research analyst Kenneth Leon wrote in a recent assessment of the streaming and cable-TV landscape.

The challenge facing Netflix now is coming up with ways to sustain last year's momentum, with the "Raw" deal making it seem like live programming is now being eyed by the company as fertile ground.

"If we continue to execute well and drive continuous improvement — with a better slate, easier discovery, and more fandom — while establishing

THE NETFLIX logo is shown in this photo from the company’s website, in New York, Feb. 2, 2023. Netflix reports earnings on Tuesday, January 23, 2024.

Photo:Richard Drew/AP seeking higher profits. That paid off in the latest quarter, which saw Netflix earn $937.8 million, or $2.11 per share, up from net income of $55.3 million, or 12 cents per share, the same time in the previous year. Revenue climbed 13% from the prior year to $8.83 billion.

The revenue exceeded analysts' forecasts, while earnings per share missed analyst targets, partly because of a $239 million charge tied to its foreign debt.

But Netflix managed to bounce back, primarily through the rollout of a lowpriced streaming plan that injected commercials into its service for the first time, combined with an effort to block viewers who had been accessing the service for free by using the passwords of paying customers.

At the same time, Netflix tightened its programming budget while also increasing the price of its top-tier streaming plan by 10% to help appease investors

THE WEATHER REPORT

5-DAY FORECAST

ORLANDO

High: 81° F/27° C Low: 66° F/19° C

TAMPA

TODAY

TONIGHT

THURSDAY

FRIDAY

SATURDAY

SUNDAY

UV INDEX TODAY

Partly sunny, breezy and pleasant

Breezy early; increasing clouds

Mostly sunny, breezy and pleasant

Partly sunny, breezy and pleasant

Breezy in the morning; mostly sunny

Mostly sunny

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

High: 81°

Low: 71°

High: 81° Low: 71°

High: 82° Low: 72°

High: 84° Low: 71°

High: 83° Low: 70°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

84° F

71° F

83°-69° F

84°-74° F

88°-73° F

89°-67° F

High: 82° F/28° C Low: 68° F/20° C

E

W

ABACO

S

N

High: 76° F/24° C Low: 60° F/16° C

10-20 knots

S

WEST PALM BEACH High: 81° F/27° C Low: 72° F/22° C

12-25 knots

FT. LAUDERDALE

FREEPORT

High: 81° F/27° C Low: 73° F/23° C

E

W S

E

W

High: 79° F/26° C Low: 70° F/21° C

MIAMI

High: 81° F/27° C Low: 73° F/23° C

8-16 knots

Ht.(ft.)

Today

6:50 a.m.

7:05 p.m.

2.8 2.1

12:21 a.m. -0.2 1:21 p.m. 0.0

ALMANAC

Thursday

7:31 a.m.

7:47 p.m.

2.8 2.1

1:06 a.m. -0.2 2:00 p.m. 0.0

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 68° F/20° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high .................................. 86° F/30° C Last year’s low ................................... 69° F/21° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date .................................................. 0.66” Normal year to date ..................................... 0.99”

Friday

8:10 a.m.

8:27 p.m.

2.8 2.2

1:48 a.m. -0.2 2:38 p.m. -0.1

Saturday

8:47 a.m.

9:05 p.m.

2.8 2.2

2:28 a.m. -0.1 3:13 p.m. -0.1

Sunday

9:22 a.m.

9:43 p.m.

2.7 2.2

3:08 a.m.

3:47 p.m.

0.0 0.0

Monday

9:58 a.m.

10:22 p.m.

2.5 2.3

3:47 a.m.

4:21 p.m.

0.1 0.0

Tuesday

10:33 a.m.

11:02 p.m.

2.4 2.3

4:28 a.m.

4:55 p.m.

0.2 0.0

KEY WEST

High: 79° F/26° C Low: 72° F/22° C

ELEUTHERA

NASSAU

High: 81° F/27° C Low: 71° F/22° C

Low

Ht.(ft.)

SUN AND MOON Sunrise Sunset

6:56 a.m. Moonrise 5:48 p.m. Moonset

4:55 p.m.

6:19 a.m.

Full

Last

New

First

Jan. 25

Feb. 2

Feb. 9

Feb. 16

CAT ISLAND

E

High: 82° F/28° C Low: 72° F/22° C

N

S

E

W

10-20 knots

S

12-25 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Forecasts and graphics provided by AccuWeather, Inc. ©2024

High: 79° F/26° C Low: 61° F/16° C

N W

TIDES FOR NASSAU High

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

N

ourselves in new areas like advertising and games, we believe we have a lot more room to grow," Netflix management wrote in a Tuesday letter to shareholders accompanying its fourthquarter review.

In a conference call with analysts, Netflix co-CEO Greg Peters predicted it will be several years before ad sales bring in significant revenue. But the company is still benefiting from the $7-per-month price for the plan with commercials, with that option now accounting for about 40% of its new subscribers in the markets where it's available.

Peters told analysts that Netflix remains confident that it can still convince more viewers now using the passwords of paying customers to ante up for their own plans. "That (crackdown) will improve our growth for years," Peter said.

Analysts have also been anticipating the company will amplify a push into video games that Netflix embarked upon in 2021 during the throes of the pandemic.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 81° F/27° C Low: 72° F/22° C

High: 83° F/28° C Low: 72° F/22° C

N

High: 82° F/28° C Low: 66° F/19° C

E

W S

LONG ISLAND

TRACKING MAP

High: 82° F/28° C Low: 64° F/18° C

12-25 knots

MAYAGUANA High: 81° F/27° C Low: 72° F/22° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 82° F/28° C Low: 67° F/19° C

High: 83° F/28° C Low: 64° F/18° C

GREAT INAGUA High: 81° F/27° C Low: 68° F/20° C

N

E

W

E

W

N

S

S

20-30 knots

20-30 knots

MARINE FORECAST ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS E at 12-25 Knots ESE at 10-20 Knots E at 10-20 Knots ESE at 8-16 Knots E at 12-25 Knots E at 12-25 Knots ENE at 15-25 Knots E at 12-25 Knots E at 12-25 Knots ESE at 10-20 Knots E at 10-20 Knots ESE at 8-16 Knots E at 12-25 Knots E at 10-20 Knots NE at 20-30 Knots ENE at 12-25 Knots ENE at 15-25 Knots E at 12-25 Knots E at 12-25 Knots E at 12-25 Knots E at 10-20 Knots ESE at 8-16 Knots E at 20-30 Knots E at 12-25 Knots E at 12-25 Knots E at 12-25 Knots

WAVES 5-9 Feet 5-9 Feet 1-3 Feet 1-2 Feet 6-10 Feet 5-9 Feet 5-9 Feet 4-8 Feet 5-9 Feet 5-9 Feet 1-3 Feet 1-3 Feet 1-3 Feet 1-2 Feet 4-8 Feet 3-6 Feet 5-9 Feet 4-7 Feet 8-12 Feet 6-10 Feet 2-4 Feet 1-3 Feet 5-9 Feet 4-8 Feet 3-5 Feet 2-4 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 75° F 75° F 76° F 74° F 78° F 78° F 78° F 78° F 77° F 77° F 73° F 74° F 77° F 78° F 79° F 79° F 79° F 79° F 78° F 78° F 76° F 76° F 79° F 79° F 78° F 78° F