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TUESDAY, FEBRUARY 9, 2021

$4.37 AID in expansion to Harbour Bay

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A MAJOR Bahamian retailer yesterday confirmed it has expanded to the Harbour Bay Shopping Centre in a bid to reach consumers who would never travel to its main location.

Jason Watson, Automotive Industrial Distributors (AID) president, told Tribune Business the company had fulfilled its long-standing ambition to establish a presence in the East Bay Street-based shopping plaza with the February 1 opening of its 5,500 square foot space next to Logo’s Bookstore.

“The space was available. I saw that back in September or so, and always wanted to get a location in that area,” he explained.

“A lot of customers that go there would never find themselves going to Wulff Road, so we wanted to open a store there and the space was available. In the Mall [at Marathon], we have a lot of customers that go there but do not come to Wulff Road.

“We took the lease, but couldn’t get the shelving in until late December. I was hoping to open before Christmas, but it didn’t work out. We got the shelving in by late December, and in January we got everything in place and opened on February 1.”

Mr Watson said AID’s Harbour Bay location will stock parts, hardware and housewares, adding that supply chain issues caused by a shipping container shortage meant it had taken “about three to four weeks to get everything in”.

Around ten employees will be stationed at the store as AID expands staffing, and ramps up training, ahead of the planned reopening of its redeveloped Blue Hill Road location in June 2021. The retailer, which is one of the few in expansion mode amid COVID-19, has been “adding workers pretty much constantly to get them trained and ready for that location”.

Mr Watson explained: “Once we got the lease we sent some staff over from Blue Hill Road over there [Harbour Bay].

We’re hiring constantly. We hired three people last week, and the week before we hired four people, so we’re pretty much adding new people weekly.”

AID is not the only new addition at Harbour Bay. Aliv, the mobile operator, opened an outlet at the eastern New Providence location just prior

SEE PAGE 5

$4.09

Minister’s go-ahead over ‘vaccine passport’ study

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

T

HE government is “exploring” whether to adopt so-calledCOVID19 “vaccine passports” in a bid to make two-way travel involving The Bahamas easier, a Cabinet minister revealed yesterday.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business he has asked officials to study whether this nation should follow other countries in developing documents and protocols that would enable tourists and Bahamians to prove they have been vaccinated against the potentially fatal virus.

Such a regime, if adopted, could facilitate the free flow of travel to and from The Bahamas by both locals and residents once global vaccination programmes achieve critical mass - a development that appears to be some months off yet. “Vaccine passports” showing a person has been inoculated could also dramatically reduce the need for pre-arrival and incountry COVID-19 testing.

The Tribune has for some months called for the creation of a “vaccine passport”

• Tourism to ‘explore’ if makes travel easier • Bahamas now ‘in groove’ on Health Visa • But 2019 numbers to only return 2023/2024

DIONISIO D’AGUILAR regime, and Mr D’Aguilar confirmed to this newspaper yesterday: “I’ve just requested the Ministry of Tourism to explore that., explore what it’s all about and see whether we want to embrace that and morph into that proposed travel protocol.

“I’m having the technical people at the Ministry of Tourism review that, and see what the pros and cons are.

It seems to be getting some traction in Europe and the Asian side, but I’m not sure it’s getting so much traction this side” of the Atlantic.

“I’ve read about it, seen it and want my technical team to see if it’s something we want to embrace, follow and be part of,” Mr D’Aguilar continued. “We’re looking at every possible way to facilitate travel and tourism to The Bahamas once we get on the other side of this pandemic.

“We have to study it, look at the advantages and disadvantages. If a number of countries are entertaining it, why? What do they find attractive about it? We will see if it’s something we want to embrace and work with.

We are definitely looking at it, studying it, though our Bahamas Health Travel Visa is working quite well.

“We’ve settled into a groove, but it’s an impediment to travel and I continue to emphasise that all impediments to travel are not good.” Mr D’Aguilar’s comments came just days after the UK said it was looking at the feasibility of developing a “vaccine passport” scheme that would enable its citizens to prove

“ECSTATIC” oil opponents yesterday urged The Bahamas to “seize the moment” and impose a permanent drilling ban after Bahamas Petroleum Company’s (BPC) first exploratory well came up empty.

Casuarina McKinneyLambert, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, told Tribune Business that BPC’s failure to strike commercial oil quantities with its Perseverance One well had given this nation a chance “to choose sustainability over drilling”.

She argued that Bahamians, as well as the government, must realise “we have something really good going for us” in the country’s pristine environment and sustainable tourism and fishing industries that

they have been inoculated against COVID-19 when arriving at other countries’ borders.

UK media reports said the move was in response to other countries requiring that foreign nationals show they have been vaccinated before entry is granted.

Greece, a holiday destination that shares sun, sand and sea characteristics with The Bahamas, was among the countries said to be willing to admit tourists if they have can prove vaccination.

Denmark and Sweden are said to already be working on plans for some form of digital certification for COVID-19 vaccination, while discussions were also under way about a European Union (EU) wide certification scheme.

The European Commission president, Ursula von der Leyen, backed the idea in January of using certificates to identify people who have had COVID-19 vaccinations, but added:

SEE PAGE 4

Marinas chief’s fears on online ‘push back’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Association of Bahamas Marinas (ABM) president yesterday said this nation could enjoy “huge benefits” if government agencies end their resistance to online payments and filings.

Peter Maury, disclosing that there were indications boating traffic may be redirected to the Bahamas this Spring because of COVID19 rules complexities in the southern Caribbean, told Tribune Business that he and his clients were encountering significant “push back” from the Port Department and Customs when it came to going digital.

The former is responsible for collecting charter fees, and the latter cruising permits, but Mr Maury said several “trial runs” had revealed the Port Department, in particular, is still requiring boaters and

• Says govt agencies not adapting to digital era • ‘Buy in’ vital to eliminating boater paperwork • As ‘buzz’ increases over Spring’s bookings captains to physically present themselves and fill-in volumes of paperwork despite the existence of online facilities that enable such processes to be completed electronically.

He added that public sector “buy in” was vital for the government’s digital transformation to be effective, and the ‘ease of doing business’ to improve, while facilitating increased revenues for the Public Treasury and greater boating/yachting business that ultimately boosts economic activity and employment at “street level”.

“If we can just get the Port Department on board with online charter fees, and Customs on board with cruising permits, it would be huge,” Mr Maury told this

newspaper. “The portal’s up and running but we’re getting so much push back from the Port.

“They want to come up with reasons why they want to much paperwork, and it’s such a simple process.

They’re definitely pushing back on online. All forms are electronic. If we can just get the bureaucrats to agree and push it ahead, there’s no reason why these boats will not move into The Bahamas and do business.

“It’s so easy. The Health Travel Visa is so simple and so easy. If we can do that with yachts for the payment of fees, the maritime industry will see huge benefits and the government will see huge benefits in our Treasury,” the Marinas Association chief continued.

Oil opponents demand ‘permanent drilling ban’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

$4.02

• As BPC’s first exploration well strikes out • Govt silent but explorer says not giving up • Activists to persist with Judicial Review

SIMON POTTER should never again be endangered by oil exploration or similar activities.

Ms McKinney spoke out after BPC, in an official statement, confirmed that drilling of its Perseverance One well in waters some 90 miles west of Andros has now ceased after “commercial volumes

of oil have not been proven” at that location.

BPC, in a long release that portrayed the situation as the equivalent of a “glass half full”, said drilling to a depth of 3,900 metres had detected the presence of hydrocarbons but not enough to make it commercially viable at that site.

It added, though, that the Perseverance One well’s findings had made the “technical” case that commercial oil reserves may be located in areas covered by some of its four other licences and it was not giving up on The Bahamas just yet.

While the data collected from its exploratory drilling has yet to be reviewed and presented to the Bahamian

government, as required by its licence terms, BPC indicated that there was sufficient justification to consider drilling further exploratory wells in addition to continuing the search for a joint venture partner.

The company considers the results from Perseverance One, notably the confirmation of migrated oil within the Aptian reservoirs, will significantly reduce technical risk for any future/further exploration in this new frontier province,” BPC’s statement said.

“In particular, BPC considers that the results from Perseverance One may provide a strong technical basis

SEE PAGE 4

“We’ve done a couple of trial runs, and the Port still wants individual forms filled out [manually]. It takes what’s so easy electronically; they want all this paperwork and you have to fill everything. The yachts said they might as well do it the old way and go in there.

“We have to get beyond that. The system of payments online, and being less reliant on in-person visits and more reliant on online payments, that would be huge. We’re getting a lot of push back from the Port. We’re having our difficulties getting it implemented. Some of the civil servants don’t have the buy-in for whatever reason.

But it helps the flow of business and we need to have it.”

SEE PAGE 4

$4.01 Fisheries chief: Oil drilling end ‘is for the best’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A LEADING fisherman yesterday argued “it’s for the best” that the Bahamas Petroleum Company (BPC) failed to strike commercial oil quantities despite the potential fiscal boost it could have provided.

Paul Maillis, the National Fisheries Association (NFA) director, told Tribune Business that while the industry can breathe “a sigh of relief for now” - with the announcement that BPC is capping its first exploratory well - the controversy raised by oil drilling is “not over”.

Reacting to BPC’s confirmation that drilling of Perseverance One has ceased, Mr Maillis said: “I am personally relieved, and I know that a number of people of the ocean, marine folk, are relieved that no commercial quantities of oil have been discovered though I, at least, don’t believe this is over because there are other wells that can be drilled and tested.

“But for now it’s a sign of relief that the well is going to be capped, and it seems for now our fears are going to be a little dissipated.

Even though it could have been something potentially financially important as revenue for the country, it’s for the best.

“It’s for the best we don’t have this resource as, one, a cause of potential conflict, and two, it could cause pollution in our marine ecosystem that we so depend on as a fisheries state, a tourism state, as a state that espouses cleanliness and eco-friendly laws and policies. So it’s for the best.”

Neal Watson, owner of Neal Watson’s Bimini Scuba Centre, was equally ecstatic when informed by Tribune Business that BPC’s well some 90 miles west of Andros had failed to find commercial oil quantities despite detecting the presence of hydrocarbons at the location.

“That’s great news,” he said of the drilling’s halt - at least for now. “That’s fantastic. Hopefully, they’re done; get out of here. Wow. That’s wonderful. It’s a shame that the government ever let them do it.”

The Our Islands, Our Future coalition, which led environmental opposition to BPC’s oil drilling plans, said in a statement that yesterday’s announcement does not mean that The Bahamas’ environment,

SEE PAGE 5

PAGE 2, Tuesday, February 9, 2021

THE TRIBUNE

MOBILE COMMERCE PROVIDER AT 100,000 DOWNLOAD MARK A BAHAMIAN mobile commerce provider says its app has hit the 100,000 download mark through local businesses increasingly using the platform to drive digital sales.

MobileAssist, in a statement, said that when it rolled out its suite of mobile (M-Commerce) products in January 2020, its app - known primarily as a directory service - had less than 50,000 downloads at that time.

That number has doubled in a year as consumers use the app’s ‘pay by phone’ features to pay for goods and services at Super Value and Quality Supermarket; Cable Bahamas’ REV brand; Aliv; and New Providence Water Development Company.

MobileAssist added that the increasing number of businesses using the app to drive digital sales, growing consumer confidence and the challenge posed

by COVID-19 restrictions have all contributed to its growth.

Dr Donovan Moxey, its chief executive and cofounder, said: “We have

CARLA EDWARDS, a small business owner and female entrepreneur, uses the MobileAssist $can & Pay feature at Salon Fusion to facilitate credit and debit card transactions.

followed our tech road map and we are constantly updating and adding features that set us apart from our competitors - from both the end user and merchant standpoint.

“An example of this is our $can & Pay with cash back feature launched in Super Value stores throughout New Providence in December 2020.”

This service requires no POS (point of sale) system integration, and end users have only to download the app, register, create a wallet and load it to use their phones to pay. As a virtual ATM card, it can withdraw cash at registers.

MobileAssist said 90 percent of users surveyed gave the app an overall rating of “five stars”. “It was important for us to understand how our customers felt about us. The poll was created using the app’s polling feature, and we were able to gather key customer feedback,” explained Adria McCardy, its marketing manager.

She added that the small number of customers who rated the app lower readily

admitted they were new to technology, and their comfort was growing with each transaction. A series of simple YouTube ‘How To’ videos speaking to features has been created to help them.

MobileAssist said transactions have also increased substantially with Bill Pay, $can & Pay with cash back and Donations being the most popular, followed closely by growth in phone-to-phone money transfers and mobile store purchases.

“It is important to add that while we have wellknown enterprises using MobileAssist as merchants, our small business base is also increasing month-by-month.

We began this journey with less than ten vendors in this category, increasing to more than 120 businesses to-date,” Dr. Moxey noted.

The company said importers, salons, clothing stores, car rental companies and restaurants are among this category, using it as an alternative to pricey card terminals.

Chef Culmer, owner of

Tropical Gyros, said: “We were losing sales, especially with the demand for in-store and curbside pickups, because we didn’t have the ability to accept carded transactions.

“Implementing the MobileAssist $can and Pay service took no time at all and gave us the functionality needed at a fraction of the cost. As a small but growing business, expense and integration were major factors in the decision to go digital.”

The Bahamian digital currency, the Sand Dollar, will further drive innovation when it launches. The mass loading of payroll accounts has been developed within MobileAssist as the Central Bank’s network improves cash-out points and more ways to spend digital currency.

Dr Moxey said: “We anticipate that the trend toward M-Commerce will continue to strengthen based on our growth trajectory. It is a natural transition from cash to an era where convenience and acceptance of digital spending are on the rise.”

BAHAMIANS URGED TO SUPPORT INVESTORS AS $3M PLAZA OPENS A CABINET minister yesterday urged Bahamians to shop at home and help rebuild the economy postCOVID-19 as he opened a $3m Grand Bahama shopping plaza.

Iram Lewis, minister of state for disaster preparedness, management and reconstruction, spoke out as he opened the newly-constructed Brickhouse Plaza, located on Alcester Road.

The 21,000 square foot plaza, with 20 retail spaces, is owned by Pastor Lloyd Rolle, and was constructed by his Brickhouse Construction Company.

STANDARDS REGULATOR IN TESTING PARTNERSHIP THE Bahamas’ standards regulator has signed an agreement with a US-based testing company to help improve product quality certification.

The the Bahamas Bureau of Standards and Quality (BBSQ) signed a Memorandum of Understanding (MoU) with Underwriters Laboratories

FREEPORT BUSINESS SEES LITTLE OF DORIAN TAX BREAKS

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net FREEPORT businesses yesterday said they have felt little impact from the $100mplus worth of tax breaks and waivers granted to facilitate Hurricane Dorian reconstruction efforts.

FOLLOWING the brief opening ceremony, Iram Lewis, minister of state for disaster preparedness, management and reconstruction took part in the ribbon cutting ceremony. Cutting the ribbon was 14-year-old Kervanna McCartney, granddaughter of Brickhouse Plaza owner, Pastor Lloyd Rolle.

Photo: Lisa Davis/BIS

Mr Lewis said the development demonstrated investor confidence in the Grand Bahama economy, and he encouraged residents to shop at home to assist in rebuilding a community that has been devastated by both Hurricane Dorian and COVID-19.

“I am pleased to see that this is an investment from a local son of the soil who has utilised his Godgiven talent to achieve new heights,” he added of Pastor Rolle. The property was purchased one week before Hurricane Dorian hit, and will now house a

beauty salon, sports lounge, bakery, pizzeria, pre-school and pharmacy.

Also present for the opening ceremony were Philip Davis, Leader of the Opposition, as well as Senator Fred Mitchell, the Progressive Liberal Party’s (PLP) chairman, leaders of the religious community and family and friends.

Mr Lewis said: “This speaks volumes to the confidence that Bahamians have in The Bahamas. As the previous speaker (Philip Davis) said, it is on us. We are in this together and it is important. We welcome

foreign investors to come to Grand Bahama, but when we can do it ourselves it speaks volumes.

Stating that what Pastor Rolle had done was take a leap of faith, he added: “I want to encourage all to support your local investors. This $3m could’ve gone elsewhere but it was put into this community. I want to urge you to support Mr. Rolle in this very important venture. Grand Bahama is going to be bigger, better and stronger because of persons like you through the Grace of the Almighty God.”

(UL), a global safety certification company based in Illinois, during a commemorative virtual signing ceremony on February 5.

Those in attendance were Aaron Rice, chairman of the Standards Council; representatives of Underwriters Laboratories, Phil Piqueira, its vice-president of global standards; Maria Iafano, international standards manager; and Diana Rico, international standards specialist.

Dr Renae Ferguson Bufford, BBSQ’s director, said of the signing: “We believe it to be a relationship that will contribute much to the quality development of the bureau and the work we do

for the advancement and safety of our people and country.”

She added that the agreement represents a “good” day for The Bahamas after months of intensive dialogue and exchanges with Underwriters Laboratories, which conducts safety and quality tests on a broad range of products.

“It is focused on strengthening the country’s acceptance, standing and respect in the multilateral trading system, which demands the use of international standards, securing the Underwriters Laboratories’ confidence and, thereby, their partnership. We anticipate our

collaboration will assist the BBSQ to build capacity and advance our national quality infrastructure,” Dr Ferguson Bufford said.

Mr Piqueira said: “First and foremost, I appreciate the opportunity to be in this forum and to be able to sign this agreement with BBSQ. As you are well aware, Underwriters Laboratories is an old company - been around well over 127 years.

Our mission is to make the world a safer place, so we are really hopeful that this agreement will allow us to have a much closer collaborative relationship with BBSQ. “This MoU, in our estimation, and in my view,

will support the regional collaboration with CROSQ (CARICOM Regional Organisation for Standards and Quality) and we are very pleased to enter MoUs with each of the member countries to help facilitate the region’s strategic aspirations for what I would call a more regional approach to standards. We’re hopeful, and we believe, that this agreement will also establish the particular needs that you have in the BBSQ.” The BBSQ was established as a corporate body within the Ministry of Labour. Its mandate is to maintain standards for all goods, services, practices and processes to protect

the health and safety of all Bahamians, as well as the environment, plus safeguard and enhance the economy.

The BBSQ works closely with the government, industries and businesses to enhance the quality of products and services available to the Bahamian people.

CROSQ is a regional inter-governmental organisation established in February 2002 to facilitate the development of regional standards, promote the harmonisation of metrology systems and support the sustainable production and trade of goods and services in the CARICOM Single Market and Economy (CSME).

Brent Collins, Power Equipment’s chief executive, told Tribune Business he does not see the impact from the Special Economic Recovery Zone concessions touted by the prime minister on Friday as aiding Grand Bahama and Abaco’s revival.

He said: “Those concessions must have gone to East End and Abaco, but for the Freeport bonded area I can’t think of anything because most businesses are still closed here. I don’t know

who got that money but my business didn’t get any of that.”

“With regard to tax breaks, I don’t remember seeing any myself as we are still paying VAT. I don’t remember seeing any breaks for our company or anybody that I know of. It might have been possible, and I don’t know if we had to apply for the concessions, but I know we tried a couple of times to get grants or loans to get our business back up, but for some reason we never get a

response back.”

The prime minister, on Friday, said the Special Economic Recovery Zones (SERZs) have provided more than $105m in VAT, customs duty and excise tax breaks to aid Hurricane Dorian reconstruction.

Besides these exemptions, Dr Hubert Minnis said more than $11m in business license fees have been waived for 4,475 companies based in the storm-devastated areas of Abaco and Grand Bahama.

A further $6m has been

disbursed by the Small Business Development Centre (SBDC) to micro, small and medium-sized enterprises (MSMEs) to aid their recovery, with the government providing some $138m in direct support to Dorianhit families and businesses during the 2019-2020 fiscal year.

James Rolle, the Dolly Madison Home Centre’s general manager, said his company has been “facilitating a few programmes” with the government to

distribute assistance through the Department of Social Services.

He added: “These programmes relate to appliances and bedding. So we have been facilitating these through the Department of Social Services. We are just one company that is a part of that programme facilitated through the Department of Social Services. We have also been working with the Disaster Reconstruction Authority and their programmes, too.”

THE TRIBUNE

Tuesday, February 9, 2021, PAGE 3

$300M ALBANY EXPANSION GIVEN PLANNING GO-AHEAD

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Town Planning Committee’s chairman yesterday said it has approved a $300m New Providence project that aims to create some 500 new jobs.

Adrian White, who has also just been named as the FNM’s St Ann’s candidate in the upcoming general election, told Tribune Business that the Albany West expansion on to property that previously formed part of the South Ocean resort has been given the go-ahead.

“The Town Planning Committee made a decision on the application before it

ADRIAN WHITE and distributed the official position to the developer, and that I know has been received by the developer,” he said.

“I know that the Department of Physical Planning, on behalf of the Town

Planning Committee, distributed a letter to the developer. I can say that the Albany project was approved; the application that was before the committee was approved.”

Albany executives could not be reached for comment yesterday. The project, which will feature eight beachfront properties and two condo/hotel buildings with 24 units per building, is projected to feature $300m in construction costs and create some 500 jobs when completed. Future phases on the South Ocean site could take the workforce up to 2,000 strong.

The southwestern New Providence development will first transform the

waterfront of the former 363-acre South Ocean site via the demolition of existing structures connected to the old resort and their replacement with a clubhouse, condominiums, associated amenities and beachfront lot sales to homeowners seeking to purchase their own real estate.

The project’s Environmental Baseline Survey, which was prepared by Caribbean Coastal Services and approved by the newly-named Department of Environmental Planning and Protection (DEPP) on August 5, 2020, disclosed that the construction workforce will quickly triple as Albany West goes through

the gears.

“The project site totals 16 acres of land located along South West Bay Road and South Ocean Boulevard in the western district on the island of New Providence. The site is inclusive of the former South Ocean Resort and casino, and the Stuarts Cove Dive Shop,” Caribbean Coastal Services wrote.

“Phase 1B of the Albany West project entails the demolition of remaining infrastructure at the evacuated Stuart Cove site and adjacent lot, and the construction of condo units, club house and pool,” it added.

“This phase will also include the reclamation of

the approximately 0.7 acre marina, and is estimated to utilise approximately 17,347 cubic yards of uncompacted fill (compacted volume 30,000 cubic yards). A golf cart path will be constructed to provide access from the current Albany west gate to the newly developed Albany West residential area and condos.”

Caribbean Coastal Services added that the marina reclamation “will not include the entrance channel” and only the marina basin proper. It added: “The dive company has intentions of moving from its current location and will relocate its business prior to commencement of demolition activities.”

ABACO ‘NOT UP TO SPEED’ BY TIME TAX BREAKS END

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

ABACO’S Chamber of Commerce president yesterday warned the island “won’t be back up to speed for June 30” when the reconstruction tax breaks expire due to the need to “get past COVID-19”.

Ken Hutton told Tribune Business that the worldwide pandemic, and subsequent health protocols and restrictions implemented by the government in response, had slowed the pace of Hurricane Dorian-related rebuilding.

The Special Economic Recovery Zone (SERZ) relief package, created by the government to provide some relief to businesses and homeowners and speed-up the restoration process, together with the accompanying tax exemptions, are set to expire at mid-year having been extended from year-end

KEN HUTTON 2020 but Mr Hutton indicated this may not be sufficient.

“We are still not able to get people back to rebuild.

Plain and simple. So it doesn’t matter what the concessions are if people aren’t here to take advantage of them. As helpful as they are, they are not as useful as they could be,” he said.

“We appreciate the position of the government in terms of its revenue, but I would say that the revenue

in Abaco is not going to come any faster until we are able to get rebuilt and operating again at the same level, and that is going to take time. It’s going to take money, and it is going to take concessions to be able to get that done as quickly as possible.”

Mr Hutton spoke after the prime minister, on Friday, said the Special Economic Recovery Zones (SERZs) have provided more than $105m in VAT, customs duty and excise tax breaks to aid Hurricane Dorian reconstruction.

Besides these exemptions more than $11m in business license fees have been waived for 4,475 companies based in the storm-devastated areas of Abaco and Grand Bahama.

A further $6m has been disbursed by the Small Business Development Centre (SBDC) to micro, small and medium-sized enterprises (MSMEs) to aid their recovery, with the government providing

some $138m in direct support to Dorian-hit families and businesses during the 2019-2020 fiscal year.

Mr Hutton, though, said the island must “get past COVID-19” before the tax breaks and other incentives end. The government in December extended the VAT waiver on fuel sales, as well as on furniture, fixtures and appliances, hardware, building materials, fixtures and related items, until June 30, 2021.

Mr Hutton said he subsequently wrote to the Ministry of Finance, on the chamber’s behalf, on what items should be granted tax waivers but has received no response since his letter was sent on January 13.

He added: “The chamber wrote a letter to the government back in January when they came out with the extension of the concessions, giving suggestions as to which specific tariff headings should qualify.

We have never received a response. So we need an

acknowledgement of that letter.

“We’re trying we’re trying to work with government. We are trying to partner with government and give them our suggestions. But, you know, we had zero acknowledgement or even a response to our letter.

“They have done some interesting things

without any explanations, like building materials, furniture, fixtures and equipment, duty and VAT free, but that does not include air conditioners. Now tell me a house here that doesn’t have an air conditioner? It also doesn’t include mattresses either. Now tell me a house that doesn’t have a mattress.”

PAGE 4, Tuesday, February 9, 2021

Minister’s go-ahead over ‘vaccine passport’ study

FROM PAGE ONE “Whether that gives a priority or access to certain goods, this is a political and legal decision that has to be discussed on the European level.”

Such “vaccine passports” could ultimately enable The Bahamas to scale down its present Bahamas Health Travel Visa regime, as well as the need for visitors to provide negative COVID19 PCR results taken within

five days of travel to this nation and be tested again after staying here for fourplus nights, once vaccination drives reach sufficient scale in key source markets such as the US. Mr D’Aguilar, meanwhile, said The Bahamas’ present defences seemed to be operating well despite the travel impediments and hurdles that result as “very little COVID-19 is coming in from overseas” based on present infection rates locally.

“From a mechanics standpoint it’s working very well,” he added, suggesting Bahamas Health Travel Visa applications are being approved in as little as six hours if submissions are minimal. If the application volume is heavier, the minister suggested processing time could take up to “a day or so”.

“It’s a function of quantity, which is very light right now sadly,” Mr D’Aguilar told Tribune Business, revealing that confirmation

of no mandatory quarantine for US travellers returning home has failed to produce an appreciable uptick in tourist numbers to-date.

While January numbers have yet to be finalised, he said: “President Biden’s comments certainly threw a curve ball, put a wrench in the works, so the numbers are still a sliver of their former selves. A lot of people heard about the quarantine, but not a lot heard it has been done away with.”

THE TRIBUNE A briefing given by Ian Brownlee, the US State Department’s acting assistant secretary for consular affairs, and Marty Cetron, the CDC’s director for global migration and quarantine, recently confirmed that a quarantine for incoming and returning travellers will not be made mandatory at the federal level.

In response to questions on the issue, a transcript quoted Mr Brownlee as saying: “We’re not at this time issuing federal quarantine orders, but we do have - and have had - up on the CDC website guidance regarding the ways to increase the safety of international travel......

“Staying home for a period of time, seven days if you have a negative postarrival test taken between day three and five, as is recommended on our website,

allows the quarantine period to be shortened.

“Most of this return recommendation really falls in the jurisdiction of state and local authorities, and each, the state and local authorities, may have their own specific advice, but the CDC’s standard advice on this can be found on our website. So these are recommendations from CDC.” Mr D’Aguilar, meanwhile, said “the general consensus” was that 2019’s tourism numbers will only return in 2023 or 2024 - a forecast that was recently given by Central Bank governor, John Rolle.

“Everybody is adjusting now, seeing how things are going,” he added.

“The second half of this year will be considerably better than the second half of last year, but we just have to see how it shakes out.”

Marinas chief’s Oil opponents demand ‘permanent drilling ban’ fears on online ‘push back’ FROM PAGE ONE

FROM PAGE ONE Tribune Business’ efforts to obtain comment from Lieutenant Commander Berne Wright, the Port Department’s acting controller, and Customs proved fruitless yesterday despite multiple phone calls. Mr Maury, while backing Dr Hubert Minnis’ digital transformation effort, said the resistance to change in some agencies was “unfortunate” and threatening to undermine potential economic benefits.

With the potential threat of a mandatory US quarantine for returning travellers now lifted, and The Bahamas’ five-day COVID-19 testing regime and Health Travel Visa facilitating the smooth re-entry of boaters, the ABM president said this nation could enjoy “a big positive” due to the multiple health protocols the industry was encountering elsewhere in the Caribbean.

With The Bahamas able to offer multiple different island experiences under one COVID-19 regime, Mr Maury said: “Boats are relocating to the Bahamas for Spring. It’s just in potential bookings, and we don’t know 100 percent until they show up, but the

biggest thing is a lot of brokers are talking about it.

“That seems to be the buzz. With our travel visa online, and people being able to use tests to go back and forth, it seems to be a simple way to do things. By all accounts if it happens, and I’m not saying it will, because things may change between now and then, we’d be able to accommodate those boats and having no mandatory US quarantine seems to be to our benefit.”

Mr Maury said there were several 100-foot “super yachts” moored near downtown Nassau’s John Alfred Dock that had not made their normal cross-Atlantic trips, or journeys to the southern Caribbean, and which represented “huge business for The Bahamas”.

He explained that they were purchasing food and fuel locally, with their presence and The Bahamas’ enabling COVID-19 testing regime allowing the benefits to filter down to “street level with people shopping in the stores, renting homes and going to the Out Islands rather than sitting in big hotels”.

Describing the testing regime as “perfect”, Mr Maury added: “It’s just rolling along. I’m happy.”

LEGAL NOTICE

NOTICE

Montsay Business Management Corp.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Montsay Business Management Corp. is in dissolution as of February 5th, 2021.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________ LEGAL NOTICE

Based on these prices and total outstanding shares of 4.704bn, Tribune Business calculations showed that almost £64m was wiped off BPC’s market capitalisation as a result. Some shareholders vented their anger, even calling for the board and management to resign.

The company’s total worth fell from £96.893m to just £32.924m. Among the hardest hit will have been Bahamian investors who injected a collective $900,000 into an investment fund established for them last year by BPC, whose sole investment was to be the latter’s shares so that they could benefit from an upside generated by a commercial oil discovery.

That possibility has now become much more remote, although observers who backed BPC’s oil exploration activities will argue that yesterday’s events suggest The Bahamas has missed out on a desperately-needed economic game changer that could have helped mitigate - or even partially reverse - the public debt and financial blow-out produced by Hurricane Dorian and COVID-19.

Among the unanswered questions stemming from yesterday’s events is whether BPC will seek to renew its five so-called “southern licences” whose terms expire at end-June 2021. Mr Potter, in a December 11, 2020, affidavit filed in response to activist opposition, said the renewal application must be submitted by end-March 2021 and will depend on the Perseverance One results.

Given the outcome, that renewal must be in some doubt. And there is also the issue of whether BPC will persist with its legal demands for the environmental activists to lodge $200,000 as “security for costs” so that their Judicial Review action can move forward. It is also uncertain whether it will oppose the substantive case,

for renewed farm-in discussions, with a view to future drilling at other target locations within BPC’s licence areas.” This leaves open the possibility that BPC may resume exploration in other Bahamian licence fields.

However, the statement made clear that BPC’s shortterm focus is now switching from The Bahamas to its recently-acquired prospects in Trinidad and Suriname, where it hopes to achieve production of 2,500 barrels of oil per day this year, plus its newly-acquired exploration rights off the Uruguayan coast.

Simon Potter, BPC’s chief executive, could not be reached for comment by either phone or e-mail yesterday, while Carl Bethel QC, the attorney general, referred this newspaper back to the oil explorer when asked about the way forward from here after Perseverance One was dry.

Asked whether the outcome gives the government another opportunity to exit an arrangement himself, the prime minister and other Cabinet ministers all said it desperately tried to get out of, Mr Bethel replied: “I would rather not speculate on the government’s position until so advised.”

BPC’s shareholders and the global capital markets, though, did not share BPC’s optimistic interpretation of Perseverance One’s outcome.

The oil explorer’s share price on London’s Alternative Investment Market (AIM) fell by more than two-thirds, or 67 percent, in trading yesterday as investors reacted negatively to the failure to detect commercial quantities of oil.

The share price fell by 1.39 UK pence to close the day at 0.7 pence - representing seven-tenths of one pence, less than a full UK penny.

NOTICE NOTICE is hereby given that JOHNATHAN JOSEPH, of McKinny Drive, Carmichael Road, 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 2nd day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

given the lack of clarity over its future Bahamas activities.

Environmental activists yesterday indicated the Judicial Review challenge will proceed, citing the need for the courts to provide clear guidance on which permits and approvals future oil wells must obtain, and the processes they must follow.

Among the most critical issues to be determined are whether oil wells need to obtain site plan approval under the Planning and Subdivisions Act, and an excavation permit under the Conservation and Protection of the Physical Landscape of The Bahamas Act, as well as the application of merchant shipping laws and international pollution treaties.

BREEF’s Ms McKinney, voicing concerns about Perseverance One being properly capped, told Tribune Business: “We think there should be a permanent ban on offshore oil drilling in The Bahamas; it’s just too much of a risk. The more we learn about it, the more we find out about the risks.

“Now is the moment to say we have something really good going for us in The Bahamas. We have an incredible environment, and sustainable tourism and fisheries industries, and now is the moment to protect it.

“This is the time to put a permanent ban on oil drilling so that it’s not a possibility for the future. All the light that we’ve shone on this issue throughout this process just reinforces this is not the way forward for The Bahamas. “ Suggesting that tourism industries, marine protected areas (MPAs) and fish spawning grounds can “breathe a sigh of relief” now that Perseverance One drilling has ended, Ms McKinney added: “You can’t have have one without the other; the environmental and the economic side of things.

“We’re beyond that discussion of either the environment or the economy.

Certainly in The Bahamas we have to have both.” Joe Darville, Save the Bays’ principal, described himself as feeling “fantastic, exuberant and ecstatic” upon hearing that

BPC was sealing its exploratory well without finding commercial oil quantities.

“I don’t think we’re going to cancel or opt out of the Judicial Review,” he told Tribune Business. “There are other potential situations that have to be dealt with. I don’t think there’s any reason [for BPC] to be joining this action right now, and we may not have to come up with that $200,000 security for costs.”

Sam Duncombe, reEarth’s president, warned that oil exploration in Bahamian waters is not a dead issue.

“This is a tiny, tiny reprieve for us but it’s not the end of the road by any stretch of the imagination,” she said of BPC’s announcement.

“But for the moment we are ecstatic. That’s the best wakeup call I’ve had for a long time.”

Indeed, Mr Potter said the Perseverance One well results suggested that the potential for commercial oil discoveries now lie in its other presentlyuntapped Bahamian licence fields. “In a technical sense, the well successfully validated the existence of oil, seal and reservoir,” he said.

“Together, these factors verify the existence of a working Lower Cretaceous petroleum system and sequences of reservoir quality..., pointing to the overall hydrocarbon potential of other untested prospects captured by BPC’s extensive acreage holding. However, at the Perseverance One location the volumes of oil encountered are not commercial.

“Perseverance One is the first exploration well in The Bahamas for decades, and the data gathered from this well will prove invaluable in providing a modern analysis as to the regional potential of the petroleum system which, in our view, reduces technical risk for any future/further exploration in this new frontier province.

“The company will proceed to undertake a comprehensive evaluation of the data derived from the well, as we believe the results provide a sound technical basis for renewed farm-in discussions.”

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that we, JEAN RENAL JOSEPH AND GEURLANDE ISEMA of #106 Ridgeland Park, Nassau, Bahamas. Parents of KATRINA ARIST A minor intend to change my child’s name to KATRINA JOSEPH If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE

NOTICE

GCR Business Investment Ltd.

GREEN TERRACE LIMITED

LANDFARM LIMITED

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, GCR Business Investment Ltd. is in dissolution as of February 2nd, 2021.

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 a Certificate of Dissolution issued by the Registrar General on the 22nd day of December, 2020.

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 a Certificate of Dissolution issued by the Registrar General on the 22nd day of December, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

Beryn Neeley

Beryn Neeley

Liquidator

Liquidator

of

of

GREEN TERRACE LIMITED

LANDFARM LIMITED

NOTICE

In Voluntary Liquidation

LIQUIDATOR ______________________

THE TRIBUNE

Tuesday, February 9, 2021, PAGE 5

AID in expansion to Harbour Bay FROM PAGE ONE to Christmas as it expands its retail network and staffing levels with the easing of the government’s COVID19 restrictions.

Damian Blackburn, Aliv’s top executive, told this

newspaper: “We opened a new store in Harbour Bay just before Christmas, which created new employment opportunities, and we are going to open a new store in Abaco.

“We have had to grow again with small numbers in

some strategic areas. We’re growing jobs in some different areas. We have grown the sales team again to keep up with demand, and some of the areas where we had to right-size the business due to the [COVID-19] downturn.”

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Fisheries chief: Oil drilling end ‘is for the best’ FROM PAGE ONE

tourism and fisheries industries are “fully secured” against future exploration wells and similar activities.

Casuarina McKinneyLambert, the Bahamas Reef Environment Educational Foundation (BREEF) executive director, said: “The drilling that took place off the west coast of Andros for the past 48 days caused considerable damage to the sea floor and was a clear

threat to our waters and our economy, and that of our neighbours.

“It was a risk to the well-being of our ecosystems and our people who depend on healthy oceans for tourism and fisheries, and ultimately our way of life. This will send the message to the world that we take protection of our environment seriously, that we care about our people, and that we are serious about building a climate-resilient future.”

Dr Ancilleno Davis, an independent marine and terrestrial ecologist, added that “we still do not have sufficient local capacity to assess the resources we have. We are decades away from having the resources

to respond to or recover from a major spill”.

Our Islands, Our Future said questions remained over BPC’s insurance coverage for Perseverance One, including the limits of coverage, the duration of the policy and any potential exclusions should an accident happen.

It also queried whether BPC has paid the outstanding licence fees due to the government. “Will BPC have an opportunity to slip away to Trinidad & Tobago without payment of the fees that were required in their binding agreement?” asked Rashema Ingraham of Waterkeepers Bahamas, a coalition member.

PAGE 6, Tuesday, February 9, 2021

THE TRIBUNE

SPACEX owner and Tesla CEO Elon Musk.

Tesla buys $1.5bn in Bitcoin, will accept as payment soon Associated Press

YOUR

HOLDERS of Bitcoin may be able to cash in some of their investment in the digital currency for a brand new electric car.

Electric automaker Tesla said yesterday that it has invested around $1.5bn in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4% to around $44,500 yesterday in reaction to Tesla’s announcement, according to CoinBase.

The California-based electric car maker headed by Elon Musk revealed the new strategy in a filing with the US Securities and Exchange Commission, saying its investment in digital currency and other “alternative reserve assets” may grow.

Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It’s mostly been a store of value, like gold, with some limited merchants like Overstock accepting bitcoin for payment. It’s also used by those distrustful of the banking system or criminals seeking to launder money.

Whether other major companies will follow Tesla’s lead in investing in Bitcoin or accepting it for transactions is unclear. A vehicle is a large purchase, which could make Bitcoin a better fit to pay for it, but the wild price swings in Bitcoin could be a significant risk to any merchant who decided to accept it.

CHOICE FOR THE FAMILY WWW.FACEBOOK.COM/JOYFM1019

MARKET REPORT www.bisxbahamas.com

MONDAY, 8 FEBRUARY 2021

BISX ALL SHARE INDEX:

CLOSE

CHANGE

%CHANGE

YTD

YTD%

2017.36

0.07

0.00

-75.10

-3.59

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 4.50 33.05 2.00 2.15 2.10 6.00 6.90 3.55 6.49 4.40 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.26 16.00

52WK LOW 3.13 22.65 0.67 1.62 1.66 5.00 6.00 2.70 4.50 3.50 5.50 10.20 2.10 4.75 9.60 7.50 13.00 3.50 8.15 14.00

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Bahamas Limited Focol Finco J. S. Johnson

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ

LAST CLOSE 4.50 32.12 1.62 2.15 1.67 6.00 6.61 2.98 4.74 3.50 5.50 10.20 2.61 6.85 9.92 8.40 13.50 3.80 8.50 15.20

CLOSE 4.50 32.12 1.62 2.15 1.67 6.00 6.61 2.98 4.74 3.50 5.50 10.20 2.69 6.85 9.92 8.40 13.50 3.80 8.50 15.20

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1320294 BSBGR1321391 BSBGR1322498

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

BAHAMAS GOVERNMENT STOCK - (percentage pricing) Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BSBGR1320294 BGRS FX BSBGR1321391 BGRS FX BSBGR1322498

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00

VOLUME

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 18.8 34.5 N/M N/M N/M N/M 17.9 -6.8 33.9 19.0 12.2 14.1 26.4 14.7 15.4 11.5 16.5 18.7 9.1 24.1

YIELD 3.78% 3.92% 1.23% 1.40% 0.00% 0.00% 3.93% 0.00% 0.00% 3.43% 4.00% 7.06% 16.13% 0.88% 3.31% 2.86% 4.00% 3.16% 2.35% 4.01%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

MATURITY

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 4.81% 5.29% 5.65%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Oct-2029 15-Oct-2039 15-Oct-2049

MUTUAL FUNDS 52WK HI 2.39 4.43 2.14 201.90 184.85 1.69 1.85 1.78 1.24 8.49 10.26 7.28 13.91 12.84 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.66 1.79 1.75 1.05 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund Royal Fidelity Bahamas Opportunities Fund - Secured Balanced Fund Royal Fidelity Bahamas Opportunities Fund - Targeted Equity Fund Royal Fidelity Bahamas Opportunities Fund - Prime Income Fund Royal Fidelity Int'l Fund - Equities Sub Fund Royal Fidelity Int'l Fund - High Yield Fund Royal Fidelity Int'l Fund - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

NAV 2.39 4.43 2.14 201.90 184.85 1.68 1.79 1.76 1.05 8.49 10.03 7.28 13.91 12.84 10.05 N/A 9.28 11.86

YTD% 12 MTH% 4.55% 4.55% 1.58% 1.58% 2.60% 2.60% 3.47% 3.47% 10.86% 10.86% 1.03% 1.03% -3.14% -3.14% 0.26% 0.26% -12.29% -12.29% 1.76% 1.76% -1.97% -1.97% 4.91% 4.91% 5.28% 15.75% 0.05% 3.96% -0.35% -6.34% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date

31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 31-Dec-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

MARKET TERMS

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

P/E - Closing price divided by the last 12 month earnings

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

“It was wise of Tesla to announce that it will deem its investment in Bitcoin as an ‘alternative asset’. That is certainly appropriate, because Bitcoin might be coming into greater acceptance as currency, but it is not cash,” said Anthony Michael Sabino, a professor of law, at St John’s University.

Tesla said last month that it had cash and cash equivalents of $19.4bn after selling new shares to take advantage of a rising stock price. Dan Ives of Wedbush Securities said the move gives Tesla “more flexibility to further diversify and maximise returns on its cash”.

Tesla is in a unique position to accept digital currencies for payment, since the automaker does not rely on a network of independently owned dealerships to sell its vehicles unlike traditional car companies such as General Motors and Ford.

“It certainly seems that beyond embracing it as a store of value for his own trust or his own assets, it does appear that (Musk is) embracing it as a transactional tool as well,” said Michael Venuto, co-portfolio manager of the Amplify Transformational Data Sharing fund, an exchange-traded fund that tries to invest in digital currency technologies.

Venuto’s fund holds a small amount of Bitcoin but mostly invests in companies that build around such technologies.

Even with Tesla’s support, it could take some time before those who’ve made money investing in Bitcoin to use it to buy a car.

NOTICE NOTICE is hereby given that RICHARDSON FLORISSANT, of Mason Addition, 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 2nd day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that ALLISTAIR VEDEL FORBES, of #27 Coral Reef Estates, Freeport GB, 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 2nd day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that ALSHA CHRISTOPHER WALLACE, of #138 Little Hyde Park, Seabreeze Lane, P.O. Box N 4173 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 9th day of February 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.