‘Back end of the spike’ after 60% revenue rise

that terminology because a correction to what? The way I see it is that we’re on the back end of the spike at the moment. That’s the best way for me to describe it.”

Demand for high-end Bahamian real estate among international buyers soared in 2021 and 2022 as COVID restrictions eased, both locally and around the world, and while the market may have started to cool interest in this nation remains strong according to multiple realtors.

“Doesn’t mean that we’re going to go back to pre-COVID levels?” Mr Rodland said of his “back end of the spike” analysis. “I don’t think we’re going back to that. I don’t think that’s where we are. My best terminology, and the best way to describe it, is that we’re on the back end of the spike.

We’ve been pretty fortunate and will do our best to continue the momentum.

“Our strategy, and what we do, is as much dependent on the market and where we are and what our goals should be. Our strategy for 2023 will be different from 2022, and will likewise be different for 2024.”

He added, though, that it is too early to predict how the Bahamian real estate market will perform for the 2023 full-year based on just the first two months.

“We’re just kind of hoping for the best. It’s still too early to determine what this year will look like, but we remain optimistic,” Mr Rodland said. “I can tell you that the activity has slowed down because of the inventory crunch. The demand is still high, but not as high as it was during 2021 and 2022. There’s definitely activity in the market and buyers looking to secure, but again we’re having an inventory crunch.”

The shortage of available properties directly relates to the frequency and pace at which high-end Bahamian real estate was acquired in COVID’s wake, reducing the remaining supply for purchasers arriving now. Mr Rodland said it was difficult to quantify the extent of the shortage in numbers, and added: “It just means that we need to build more product.

“In our business, we’re in the business of selling and promoting. It’s hard to find property for buyers. I do know that’s a struggle. It’s always good to know the demand is high. Obviously there was a big rush, and a lot of things sold. We’re keeping our foot on the gas. We’re on the back end of the spike. There’s still demand for The Bahamas. People are still coming, still looking for property. “We are optimistic, the way things are right now, we will do as well as last year, and will push to put up the same numbers - if not better- this year.” However, Mr Rodland explained that, depending on their personal circumstances, some potential purchasers are electing to hold-off on real estate buys if they feel the correct property is not immediately available.

“If there are three properties on the market and they don’t like any of them, they may choose to wait three months for something else to come on the market that is better suited,” he explained. “There are some people that are taking that opportunity, saying: ‘We can settle for that but can also continue to wait. There’s things we can buy and make this work - x, y and z - or we can sit down and find things better suited for ourselves’.”

Mike Lightbourn, Coldwell Banker Lightbourn Realty’s president, backed Mr Rodland’s analysis, telling Tribune Business: “It’s still looking good. Not as brisk as last year, but good still. It’s still there. There were more sales a year ago, but we’re lagging with inventory. That’s it in a nutshell.”

Mr Rodland, meanwhile, said MCR Group Bahamas’ Exuma office had outperformed forecast since it opened around one year.

“We’re doing extremely well, especially in Grand Isle,” he added. “We’ve been seeing a lot of demand, especially in north Exuma. It’s exceeding our expectations at this point, it’s fair to say.

“These are the prime jewels of The Bahamas. The Exuma cays are unmatched in terms of diversity. The Exuma cays are the most

Farmer: ‘Blowing smoke’ of 30 years seems over

responsibility for the units will be “contracted out” to private farmers, who will also oversee egg sales to food distributors, wholesalers and retailers themselves.

Philip Davis KC, speaking at yesterday’s launch, forecast that the initiative will inject some $2.3m into the domestic Bahamian economy in terms of its impact while creating some 90 jobs. He added that it was also designed to slash The Bahamas’ annual food import bill by $12.5m through the roll-out of 38 poultry houses across 12 Family Islands, with a further eight earmarked for New Providence, in a bid to raise domestic egg production 30-fold.

Mr Pinder, meanwhile, told Tribune Business the ambition of meeting 100 percent of The Bahamas’ egg needs via the project’s local production was “pretty realistic” if managed correctly. “That’s way easier than chicken meat production; much, much easier to accomplish,” he said. “In meat production, you obviously grow the chickens and you have legs, wings, breasts and all this product you have to sell.

“It depends on the demand for different

N O T I C E LOFTY POINT HOLDINGS LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) LOFTY POINT HOLDINGS LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 22nd February, 2023 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 28th day of February, 2023

Bukit Merah Limited Liquidator products in your area. With eggs, all you have is the eggs. It’s a much simpler process than chicken meat production. You’re not competing with chicken leg quarters coming from another place. Egg production is much easier. It’s a much lower hanging fruit than chicken meat production for a whole lot of reasons.”

Mr Pinder said eggs did not necessarily have to be refrigerated, and could be stored “in place” before being washed, depending on the frequency and volume of customer orders. “I don’t see why we couldn’t, especially if world egg prices stay where they are now,” he said of the egg self-sustainability goal. “I don’t think they will have any problem meeting that goal.

“Obviously you have to have some reliable people coming in to run the facilities, but I don’t see it as an unreasonable target.” Mr Pinder, though, questioned how price controls will “play into” the Golden Yoke initiative as these were “some of the problems” that had stifled local egg production in the past. Wholesalers and importers had sourced foreign eggs, preferring them to local rivals, because the higher costs meant they could get better prices/margins on overseas produce.

Legal Notice NOTICE

DELCHAIN ABSOLUTE RETURN FUND LTD.

NOTICE IS HEREBY GIVEN as follows:

(a) DELCHAIN ABSOLUTE RETURN LTD. has been dissolved on the 23rd day of February, 2023 under the provisions of the International Business Companies Act, 2000.

Shareece Scott Liquidator

NOTICE

KREOL VISIONS INC.

“I don’t know what the Government’s plans are,” Mr Pinder said. “At that point in time, price controls were part of the problem and that’s something they’ve got to look at. I’ve never been in the egg business here, but I did a pilot project in the past year with a friend of mine because I saw an opportunity there and helped them get into the business.

“It’s a completely different ball game and not something I could add to my plate, but they’re going at it full force. That’s free range eggs. The larger market is a bit more in-depth, and I guess that’s what the Government is going after.”

Mr Pinder said he hoped the Government’s attitude towards farming and domestic food production was now finally changing, and it was being treated with the seriousness it deserved postCOVID, after successive administrations had paid lip service to growing the industry without delivering on their promises and lofty objectives.

“They’ve been blowing a lot of smoke over the years about agriculture, 20-30 years, but this time I think they are really trying,” he told Tribune Business. “I’m not picking on any particular administration, but I think they’re really serious about it this time. It seems gorgeous places in The Bahamas, and are in high demand. It’s a different type of buyer who can afford something in the cays. We’re doing extremely well in that market.” that way from what we’re seeing.”

Mr Rodland, though, said he disagreed with those who argued that rising global interest rates - especially in the US - have little to no impact on international purchasers of Bahamian real estate, many of whom are cash buyers. While it may not directly impact the transaction, he added that such increases affect a buyer’s wealth by impacting the value of their other assets, businesses and investments, while also affecting the exchange rate for Europeans and Canadians.

Mr Davis yesterday said The Bahamas imports too much food, some 90 percent of all it consumes, and despite past administrations lamenting the issue this percentage has not decreased.

“My friends, that all changes now. Today, I declare that figure destined to fall faster than the walls of Jericho,” he said at the Golden Yoke project’s groundbreaking at the Gladstone Road Agricultural Centre.

“We are ushering in a new age of agriculture. An age of promise and prosperity, an age where we make the most of what we have in the most sustainable manner possible. This is especially important for low and middle income families, who are disproportionately affected by ballooning inflation on imported foodstuffs.”

The Prime Minister said his administration has made headway in the race for greater food security, and is allocating $500,000 in grants to farmers and an additional $1m in funding to secure broilers and to support livestock farming.

“The Golden Yolk project builds on this commitment to ramping up local food production. Indeed, it goes hand in hand with our pledge to ensure every Bahamian has sufficient access to affordable and nutritious food,” the Prime Minister said.

THE COMPANIES ACT (2023 REVISION) OF THE CAYMAN ISLANDS

TAKE NOTICE that the first meeting of creditors and the first meeting of contributories of the Company, registration number 380481 whose registered office is situated at Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay P O Box 1348 Grand Cayman KY1-1108 Cayman Islands are to be held concurrently on Tuesday, 28 March 2023 at 12:00pm Cayman Islands time (EST) by way of telephone conference call (“Meetings”) The Joint Official Liquidators reserve their rights to hold the Meetings consecutively

The Meetings are being convened for the purpose of electing a liquidation committee and dealing with such other matters or resolutions the Joint Official Liquidators think fit

Creditors wishing to attend and vote at the Meetings will receive the confidential dial-in number and codes for the Meetings once they have done the following:

(1) advised the Joint Official Liquidators in writing, by way of proxy form, of their intention to attend and vote at the Meetings (“Proxy Form”); and

(2) sent the Joint Official Liquidators a completed proof of debt form together with all supporting documentation (“Proof of Debt”), if not done so already

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, KREOL VISIONS INC. is in dissolution as of March 23, 2020 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

N O T I

In Voluntary Liquidation L

C E IS HEREBY GIVEN as follows:

(a) OAKWOOD GLOBAL HOLDINGS LTD. is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b) The dissolution of the said company commenced on the 22nd February, 2023 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Bukit Merah Limited, The Bahamas Financial Centre, Shirley & Charlotte Streets, P.O. Box N-3023, Nassau, Bahamas

Dated this 28th day of February, 2023 Bukit Merah Limited Liquidator

The Proof of Debt (unless previously submitted) and the Proxy Form are to be submitted to the Joint Official Liquidators by sending them to the address for service detailed below or by emailing them to the email address listed below prior to 12:00pm Cayman Islands time (EST) on Friday, 24 March 2023

Please note that any creditor or contributory who fails to notify one of the Joint Official Liquidators of their intention to participate in the Meetings by way of Proxy Form prior to 12:00pm Cayman Islands time (EST) on Friday, 24 March 2023 may not be granted access to the Meetings

Dated this 15th day of February 2023

James Parkinson, Joint Official Liquidator

Contact for Enquiries: James Parkinson Telephone: +1 345 814 2429

Email: james parkinson@crowe com

Mailing Address for Service: Crowe Cayman Ltd, 94 Solaris Avenue, Camana Bay, Grand

NOTICE Teras Harta Maritime Ltd.

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Teras Harta Maritime Ltd. is in dissolution as of February 23, 2023 Goon Fook Wye Paul with address at 72 Sengkang Square #12-49, Singapore 544706 is the Liquidator.