03092023 BUSINESS

$5.70 $5.76 $5.72 $5.92

Family Islands brace for ‘inevitable’ property tax

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE FAMILY Islands are bracing for the “inevitability” of real property tax being levied on Bahamian owners, it was revealed yesterday, amid “frustration” that preparations for such a move are holding up real estate sales.

Daphne Degregory-Miaoulis, Abaco’s Chamber of Commerce president, told Tribune Business that she and other residents were “preparing” for an imminent end to the decades-long waiver that has exempted all Bahamian-owned property in the Family Islands from paying this tax.

She explained that this was based on the Government’s requirement that all Family Island land parcels and

• Bahamians ‘preparing for’ exemption end

• But preparation ‘frustrating’ property sales

• Chamber chief: ‘Don’t do it in one swallow’

properties register for real property tax purposes and obtain an assessment number. Unless they do so, real estate sales that are in process will have their closing delayed because the transaction will not be stamped for VAT payment purposes, or recorded in the Registry of Records, without the relevant assessment number.

Bahamas hits back over OECD ‘non-compliance’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE BAHAMAS hit back over its sole tax information exchange “noncompliant” rating by the Organisation for Economic Co-Operation and Development (OECD) through arguing the number of countries with complaints was “low”.

The OECD, in its November 2022 review of The Bahamas’ compliance with the so-called Common Reporting Standard (CRS), seemingly deemed this nation non-compliant because eight other countries had “issues” with the quality of information supplied on their nationals/citizens who hold bank accounts and assets in this jurisdiction.

However, these eight countries represented just 13 percent of the 60 nations that The Bahamas is automatically exchanging tax information with under the CRS, which is the global, non-US standard for sharing such details. As a result, The Bahamas argued that those states with issues were relatively few when measured against the fact that, in 2021, some113,522 bank accounts from 5,895 institutions fell under the tax information exchange net.

SEE PAGE B7

Contractor ‘fleeced’ Baker’s Bay homeowners of $10m

• Claims likely ‘tip of iceberg’ for construction sector

• Contractor chief: Reinforces urgency for regulation

Suggesting that the Government would not go to such lengths unless they planned to extend real property tax to all Family Island real estate, not just that owned by foreigners, Mrs Degregory-Miaoulis told this newspaper: “I’m sure they are inevitably coming to the Family Islands because of the emphasis that they’re putting on all properties having

Royal Caribbean pays for seven Crown Land acres

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

ROYAL Caribbean has already paid the full annual rent for seven Crown Land acres on Paradise Island for two consecutive years, it can be revealed, rather than just the four announced in its revised deal with the Government.

Campbell Cleare, the McKinney, Bancroft & Hughes partner, who is

an assessment number and becoming registered.

“I can see this happening in New Providence, where you have the tax structure in place, but why are you holding up real estate sales and the processing

SEE PAGE B4

• Company cited by PM Office for staff non-payment

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

ACCUSATIONS that a foreign contractor may have “fleeced” homeowners in Abaco’s high-end Baker’s Bay community of up to $10m are likely “only the tip of the iceberg” due to the absence of construction industry regulation.

the cruise giant’s commercial attorney, submitted full payment for both 2021 and 2022 in accordance with the lease signed by the former Minnis administration granting seven acres on Paradise Island’s western end for its $110m Royal Beach Club project.

The letters attached to the rental payments, dated July 23, 2021, and September 6, 2022, are addressed to Richard Hardy, director at the

Department of Lands and Surveys. In the first, Mr Cleare asks him to confirm receipt of cheques for $156,000 and $3,360 representing rental payments for the seven-acre lease and accompanying seabed lease respectively.

The second letter, sent last year, also asks Mr Hardy to again confirm receipt of cheques for $154,000 and $3,300, again representing the respective lease payments due to the Government. Mr Cleare’s letter makes clear that the larger sum is for the seven-acre Crown Land lease signed by the Minnis

SEE PAGE B13

Leonard Sands, the Bahamian Contractors Association’s (BCA) president, told Tribune Business that such allegations were why he continues to “strongly urge” that the Construction Contractors Act be given full lawful effect through the appointment of a Board that will have licensing authority and regulatory oversight for the sector.

He spoke out after Endeavor Development International, the contractor cited by the Prime Minister’s spokesman two months ago for failing to pay 40 Bahamian workers their due salaries, was accused by one Baker’s Bay homeowner of defrauding it of $3.167m through the submission of “fraudulent” payment applications.

Schumacher Homes Operations, in a complaint filed in the southern Florida federal court on March 2, 2023, alleged that the Bahamian-incorporated contractor and its US-based principal, Brian Dickens, had “stolen millions” paid to

SEE PAGE B6

Nassau/PI resorts enjoy 112% room revenue rise

LEADING Nassau/Paradise Island resorts have revealed that 2022’s room revenue more than doubled year-over-year as the industry benefited from the post-COVID travel rebound.

The Nassau Paradise Island Promotion Board (NPIPB), during a New York event designed to promote the destination to travellers, disclosed that occupancies at member properties rose by 23

percentage points compared to 2021 while room revenue was up year-over-year by 112 percent.

The gains were aided by the fact that 2021 provided relatively weak comparatives given that it was still plagued by COVID-related lockdowns and other restrictions. Still, the figures unveiled by the Nassau Paradise Island Promotion Board provided further

evidence of the ongoing recovery, with foreign air arrivals to the destination rising 71 percent to end-December 2022.

Joy Jibrilu, the Nassau Paradise Island Promotion Board’s chief executive, said in a statement: “Nassau and Paradise Island have always been wellknown destinations, but there continues to be exciting new reasons to visit in 2023 that will lure both new and returning

visitors. We are so pleased with all that is happening in Nassau Paradise Island and can’t wait to have all of you experience a taste of The Bahamas.”

The updates came as the Nassau Paradise Island Promotion Board hosted consumer and trade media, and other partners, at The Institute of Culinary Education in New

SEE PAGE B7

DAPHNE DEGREGORY- MIAOULIS

SOLVING THE MARKETING AND ADVERTISING RIDDLE

Do you know the difference between marketing and advertising?

All advertising is marketing, but not all marketing is advertising. It sounds like a riddle, which is why the two terms are often used interchangeably. The truth is, both concepts are related but different.

Knowing the difference between the two might not be the single most important thing you need to be aware of as a business person, but this knowledge will come in handy when you are speaking to clients or managers who

may assume these separate terms mean the same thing. So what exactly is the difference? Advertising and marketing both have the same goal, and that is to get your business and messaging in front of your target customers. Let us start with some key differences between marketing and advertising. Marketing is all about fulfilling the unmet needs of the customers. It attempts to deliver value and provide satisfaction to the client through its offerings.

Advertising is an organised, and composed, paid form of non-personal communication of ideas, goods and services by a recognised sponsor.

Marketing is a discipline, while advertising is a branch of marketing. Marketing is a process with a unique selling proposition (USP) and strong content that describes your business. In contrast, advertising covers the placement of advertisements on different channels

such as TV, newspaper, billboards, radio, online ads and social media.

The goal of marketing is to create awareness about a company, its product range, services, variants and stores. But the goal of advertising is to get a quick and intended response from the customer. This response

can be through store visits, clicks, impressions and so forth. It will ultimately result in an increase in the company’s sales.

While marketing is for the long-term, meaning it aims to boost the value of a company and its products in the customer’s eyes, advertising focuses on the short-term. Any advertisement that a company runs on various media is for a limited period only. Advertising is also done with a particular aim in mind.

Suppose the company wants to convey information about the sale. It will advertise the same on various media to get the desired response from the public, so the message will reach the maximum number of persons possible. Marketing focuses on creating a market for the product and building a reputation, whereas advertising focuses on seeking public attention.

While marketing facilitates the creation of awareness

among consumers, advertising ensures the generation of sales for the company’s products. Ultimately, the marketing process begins long before production of the product. It does not end with the conclusion of the sale but, rather, it works on making customers feel satisfied. Advertising is a slice of the pie, while marketing is the whole pie. Moreover, if advertising is all you are doing to market your business, you are missing out on opportunities (or slices of pie) to drive sales for your business. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

• NB: Columnist welcomes feedback at deedee21bastian@gmail.com

ABOUT COLUMNIST:

Deidre M. Bastian is a professionally-trained graphic designer/brand marketing analyst, author and certified life coach

TOURISM REPRESENTATIVES MEET WITH CARIBBEAN HEALTH OFFICIAL

A CABINET minister and Bahamian tourism officials met with a key Caribbean regional health official ahead of a conference to be held in this nation from April 27-29.

Dr Michael Darville, minister of health and wellness, welcomed Dr Lisa Indar, head of the regional tourism and health programme (THP) and foodborne diseases at the Caribbean Public Health Agency (CARPHA), during her visit on Tuesday. Also present were Colin Higgs, permanent secretary, Ministry of Health and Wellness; Dr Pearl McMillan, chief medical officer; Dr Kenneth Romer, deputy director-general, Ministry of Tourism, Investments and Aviation; Robert

SEE PAGE B5

HON. MINISTER DR. MICHAEL DARVILLE

DR. PEARL MCMILLAN

DR. LISA INDAR

ROBERT SANDS

DR. KENNETH ROMER

MIXED REACTION TO ROYAL CARIBBEAN’S PI PROJECT

on Paradise Island, and I’m sure Royal Caribbean is going to do an excellent job in providing all the facilities at a high level. I think that is needed.”

BAY Street merchants yesterday gave a mixed reaction to the Government’s approval of Royal Caribbean’s Paradise Island beach club with some fearing it will suck tourists away from downtown and others arguing it will improve the product.

Charles Klonaris, the Downtown Nassau Partnership’s (DNP) co-chair, told Tribune Business he has “no problem” with the cruise giant’s Royal Beach Club receiving the go-ahead. “I feel like it’s just another venue for tourists to enjoy themselves,” he added.

“One of the prime reasons for coming to The Bahamas is the sea and the beach, as well as shopping. It’s an experience for them to see a magnificent beach

Royal Caribbean has been given permission to redevelop Paradise Island’s western end into a destination that will offer water sports, entertainment venues and food and beverage offerings to the thousands of cruise passengers it brings to Nassau on an almost daily basis. The Government, in a statement yesterday, said those activities will be operated by Bahamian businesses and entrepreneurs.

But not all Bay Street merchants are keen on Royal Caribbean’s plans. Geralle Gabriel, owner/ operator of J&S Luxurious Services, said: “Of course it won’t drive tourists to the downtown area.”

He believes that with Royal Caribbean adding

its own entertainment and food venues to what already exists on Paradise Island, tourists will be driven to - and compelled to stayacross the harbour from Nassau rather than exploring the downtown area.

“Most tourists that come off the cruise ship want to go to Cabbage Beach. Every tourist that comes to The Bahamas knows about Cabbage Beach,” Mr Gabriel said.

“I don’t believe Royal Caribbean is going to create a ferry to take people between downtown Nassau and Paradise Island. If you explain and break down things for people, instead of just saying things for people to hear so they can get excited about it, then that’s terrible because a lot of people don’t sit down and analyse things and really think about what the situation is really about.”

Chelsie Maura, owner/ operator of A Divine

Design, Interchangeable Jewellery Store, said: “I believe the project will be good for downtown and it will drive tourists back to the downtown area, but I am not sure that it will drive tourists directly to my store.”

A Divine Design is about a quarter mile away from the East and Bay Street junction, as well as Prince George Wharf, and many tourists rarely to venture to her store unless they are coming from the Paradise Island Bridge and are heading west on Bay Street.

Tanya Bain, retail manager at the Perfume Bar, said: “I don’t think it’s going to impact us at all, because we have the biggest cruise port in the Caribbean that is sitting downtown. So I don’t think that that’s going to have a great impact on us. We’re still going to see customers. They’re still going to buy.”

Ms Bain did acknowledge the potential for Royal Caribbean’s project to create their own shopping area for cruise passengers. “That will be a problem unless they intend to bring more ships. So if they do then there is not much shopping on Paradise Island other than at Atlantis, so I still feel as though some of the passengers would filter downtown,” she added.

“I have a positive outlook for the project until we know if everything that they have will be diverted there, and that there are going to be new shopping areas. Then we will start to have a conversation when that starts to happen.”

Meanwhile, Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, has confirmed that the four Crown Land acres included in Royal Caribbean’s project do not include land that was the subject of

‘Big mistake’ over Junkanoo Beach

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE DOWNTOWN Nassau Partnership’s (DNP) co-chair yesterday said a “big mistake” has been made over the way Junkanoo Beach has been allowed to develop.

Charles Klonaris told Tribune Business that the DNP’s vision was for the entire Junkanoo Beach strip - from The Pointe heading west towards the Arawak Cay Fish Fry - to be one integrated area with restaurant and entertainment venues along the waterfront.

Instead, he argued that businesses have concentrated at both ends of the beachfront, with the Junkanoo Beach portion developing without any structured management or plan. This, Mr Klonaris said, is making the area less

attractive to both locals and tourists.

“The Junkanoo Beach, originally when the DNP had envisioned it, it was to start from The Pointe all the way through to Arawak Cay and there would be a continuous flow, flowing right into Arawak Cay where you would have the conch salad stands and the entertainment there. So it was one long beach, and it should have been structured properly to where it accommodated the tourists as well as the locals,” he explained. There are no such restaurant or entertainment venues between Arawak Cay and Junkanoo Beach, with vehicular access to the former’s eastern entrance often closed. The Junkanoo Beach portion has always been pedestrian only, with access from Bay Street for vendors accepting deliveries to their establishments.

Mr Klonaris said: “There needs to be something that

both tourists and locals can enjoy, and not just for cruise ship passengers. So there is a big mistake in the manner in which Junkanoo Beach has been structured.

“It is sad because that is such a principal landmark for Nassau residents as well as tourists, and so we just look at it from a tourist point of view, but if we look at it from the view of proper restaurants, proper bars, proper coffee shops, proper entertainment and sports like volleyball and beach soccer, and whatever is needed to make it such an enjoyable area for locals and tourists, we’ve missed the boat.”

The former Minnis administration initiated a bidding process to find a private sector management company for Junkanoo Beach but no entity was ever selected and the plan appeared to be shelved.

“We keep hearing so many things,” Mr Klonaris said of the management

company proposal, “but I just keep seeing people randomly set up their clapboards for whatever their services are, whether it’s for massages or a restaurant or their little jerk pit.

Share your news

The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

“It has not been structured properly, and there should have been a management team to overlook that very, very important and historic area, and also a very high money area

Supreme Court litigation by Bahamian entrepreneur, Toby Smith, in relation to his rival Paradise Island project.

“This first of a kind project for Royal Caribbean will cover 17 acres - of which 13 acres represent privately held land and some four acres of Crown Land that was included in the lease to Royal Caribbean by the former administration,” Mr Cooper said/

“It is important to note that the land currently proposed under the project has not been subject to any dispute or litigation. Final approval of the project is subject to submission and approval of a standard Environmental Impact Assessment (EIA) and an Environmental Management Plan (EMP).”

for locals. We have missed the point on that. It’s not properly run and it’s not structured properly and, unfortunately, we are not benefiting from this.”

Condo For Sale

Family Islands brace for ‘inevitable’ property tax

of Business Licences for the sake of businesses having tax numbers and properties having assessment numbers?

“They’re not going through this exercise for nothing. They obviously have in the back of their minds to start taxing. Why else would they be putting all this energy and time into the Department of Inland Revenue having to do all this additional work and frustrating real estate transactions?,” she continued.

“We can’t close the sale of property unless we give an assessment number, even Bahamian to Bahamian deals. We can’t get real estate transactions closed. It’s frustrating people. I’m surprised we’ve not had more people pulling out of transactions because of the length of time it’s taking.”

The Government has made no formal announcement that it plans to extend the application of real property tax to Bahamian-owned property in the Family Islands, but there is every sign that it may be about to do so. Tribune Business reported earlier this year that Family Island property owners have been receiving real property tax bills and assessment numbers, albeit a zero balance was shown as owing because the levy has not come into effect.

The Government is presently extending the Tyler Technologies valuation

and mapping exercisepreviously conducted on New Providence - to other Bahamian islands. And its recently-released Fiscal Strategy Report projects that real property tax revenues will more than triple to $555m within four years, growing by 227 percent in four years from the present $169.4m forecast to $554.5m.

No comprehensive road map for getting to the latter target has yet been unveiled, but one option would be to eliminate the multiple care-outs and waivers that presently exempt Bahamian-owned land in the Family Island from paying real property tax as well as locally-owned vacant land in New Providence. Foreign-owned property in the Family Islands is already subject to real property tax.

Eliminating the exemptions would likely create mixed effects. Given that the threshold below which no real property tax is paid was raised to $300,000 in last May’s Budget, many Family Islanders will likely still pay zero even if it is imposed. And its introduction could force Bahamian landowners, who have sat on their Family Island holdings for years because there are no carrying costs, to finally use them for productive economic development purposes.

Meanwhile, revealing that she has experienced first-hand the difficulties in obtaining real property

JOB OPPORTUNITY

ACCURAD IMAGING CONSULTANTS SEEKING

RADIOLOGIST

AccuRad Imaging Consultants is a diagnostic imaging reporting/teleradiology company operating in the Bahamas. AccuRad provides diagnostic imaging reporting services to facilities and doctor’s offices throughout the Bahamas. The imaging modalities reported include, but are not limited to, x-ray, mammography, CT, ultrasound and MRI. AccuRad is seeking a fellowship trained radiologist to join the practice. Fellowship training in oncology imaging and neuroradiology is preferred. On-site work is not required. The candidate is expected to be able to provide coverage on weekends and/or stat holidays. Occasionally, there may be overnight coverage requirements. Competency in reporting all above mentioned modalities is a must. Only candidates who have completed a full radiology residency program and attained board certification by examination will be considered. Fellowship/subspecialty training must have been acquired at an accredited institution in the US, Canada or UK. All applicants must be eligible for specialist licensure in the Bahamas.

Interested applicants can submit their CV and statement of interest via email to admin@accurad.live

tax assessment numbers in her role as a realtor, Mrs Degregory-Miaoulis said if the Government had no intention of imposing the tax then it would have allowed Family Island residents and their attorneys more time to comply.

“They haven’t done that by giving us notice,” she said. “They are saying we need it [the assessment number] now, and are going to hold up whatever transaction you have going on until we get it. We are not being taxed at the moment, but are preparing for it. In the meantime, they’re holding up taxes they could be collecting by delaying transactions.”

Mrs Degregory-Miaoulis said Abaco residents were being given “no consideration” when it came to supplying the conveyances and other necessary documents to obtain real property tax assessment numbers, given that such papers had often been lost or destroyed during Hurricane Dorian’s devastation.

“The attorneys are trying to get the assessment number, I’m trying to get the assessment number. You have to go through the real property tax portal to register your property. You can’t go to the office; they will turn you away,” Mrs Degregory-Miaoulis said. “You get a reference number, but that doesn’t really help you because when you call them up you have to give them the name.

“I know it first-hand. I’ve had to go through the situation myself. Why hold and frustrate sales at a time when you are not taxing but preparing to tax? Just collect the VAT you are entitled to at this point and give at least a year’s notice of having to register our properties. To me that’s the logical thing to do. It doesn’t block funds coming to the Treasury, and doesn’t block people from being able to get transactions to close.

“They’re putting far too much stress on the Department of Inland Revenue because they’re taking forever to get the Business Licences issued, and taking forever and a day to get assessment numbers issued. Having to do it all in one swallow just causes confusion and frustration for everyone. Unless they want to frustrate themselves and the whole financial system there’s no logical reason for them to do this when planning to tax.”

The Family Islands may not be the only part of The Bahamas where real property tax is extended to. Assessment numbers are now also being required for vacant Bahamian-owned land in New Providence, while one Freeport-based contact, speaking on condition of anonymity, said they were informed on a recent visit to the Department of Inland Revenue that they may as well register because real property tax is “coming soon” to the city.

JOB OPPORTUNITY

Chief Accountant

• Bachelor’s degree in Accounting, Finance, or related field.

• Minimum 3 years Management, Accounting, or related field.

• Excellent leadership and communication skills. Strong understanding of accounting in the Hospitality Industry. High level of efficiency and accuracy.

Facilities Manager

• Minimum 3 years Facilities Manager experience Proven experience as Maintenance Manager

• Experience in planning maintenance operations Solid understanding of technical aspects of plumbing, carpentry, HVAC, electrical systems etc.

• Working knowledge of facilities machines and equipment

• Excellent communication and interpersonal skills Outstanding organizational and leadership abilities

• Ability to undertake administrative duties such as reporting, budgeting etc.

IT Technician

• Excellent diagnostic and problem solving skills Excellent communication ability

• Outstanding organizational and time-management skills

• In depth understanding of diverse computer systems and networks

• Good knowledge of internet security and data privacy principles

Certification as IT Technician (e.g. CompTIA A+, Microsoft Certified IT Professional)

Please submit a resume to hr242jobs@gmail.com. Be sure to put the position you’re applying for in the Subject of the email

While Freeport has traditionally enjoyed a real property tax exemption under the Hawksbill Creek Agreement, the source suggested this waiver may now have expired and not been renewed, therefore depriving the city’s businesses and residents of any protection. Introducing the tax in Freeport, they added, will place “a real damper” on the city’s resurgent real estate market that has been driven by sales to US and Canadian buyers.

Richard Lightbourn, the former MP and now a consultant at the McKinney, Bancroft & Hughes law firm, confirmed yesterday that real estate transactions will not be stamped or recorded without a real property tax assessment number. And extending real property tax to Bahamianowned real estate in the Family Islands, he added, will come with its own challenges given the numerous title/ownership disputes that exist as well as the prevalence of generational land.

“Any transaction involving property you have to have the assessment number on the heading of the document, otherwise they won’t stamp or record

it. It’s holding things up a bit. Obviously they’re snowed under,” Mr Lightbourn said. “There are now a number of transactions that are not taxable waiting for assessment numbers.”

As for the likelihood real property tax will be extended to Bahamianowned real estate, he added: “I don’t think they’ll go through this exercise without having that in mind. I know there’s a lot of property owned by foreigners that has never been registered, and should have been paying tax for a little while.

“I think the ultimate goal is to tax all property, but it doesn’t address the issue of good title. There’s so many properties throughout the Family Islands with questionable title and there is also so much generational property.”

Suggesting that The Bahamas should finally to the system of registered land it has been discussing for decades, Mr Lightbourn said unless title issues were addressed some Bahamians could ultimately be billed for - and pay - real property tax on real estate that they do not own.

SEMI-SKILLED AC TECHNICIAN HELPER

We are a property management company that services commercial and residential sites. The right candidate for this job opening will possess the following skills:

• 2-3 years job experience

• Be able to trouble-shoot central air conditioning and ductless units

• Have some common knowledge on Air Conditioning installation practices and procedures

• Good organizational skills

• Excellent people and communication skills

• Must be reliable

• Must have your own tools

• Must have own transportation.

If you meet the above criteria, please email your resume to actechjob2023@gmail.com

Please note that only qualified applicants will be contacted.

INSURANCE GROUP’S BAHAMAS OPERATIONS GET STRONG RATING

A PAN-CARIBBEAN insurance group with Bahamian interests says the industry’s main rating agency has affirmed the financial strength and creditworthiness of all its subsidiaries.

Coralisle Group, which operates in The Bahamas through CG Atlantic Medical & Life Insurance and CG Atlantic General Insurance, said in a statement that A. M. Best has confirmed the financial strength rating of ‘A’ (Excellent) and long- term issuer credit rating of ‘a’ (Excellent) for all the group’s life and health, property and casualty and all insurance operating subsidiaries.

It also affirmed CG United Insurance’s financial strength rating of ‘A-’ and its long-term issuer credit

rating of ‘a-’ (excellent), and assigned a “positive” outlook to the ratings. CG United (formerly Massy United Insurance of Barbados) was acquired by CG in May 2022. A. M. Best said the addition of CG United “aligns with CG’s strategy to balance its health operations with property and casualty business across numerous Caribbean jurisdictions, and provides the opportunity to sell health business in CG United territories”.

A. M. Best added that the integration of CG United with CG’s existing operations was proceeding on schedule while completing “major milestones”, including the rebranding of Massy United to CG United, and the combining of their reinsurance programmes.

Tourism representatives meet with Caribbean health official

FROM PAGE B2

Sands, Bahamas Hotel & Tourism Association (BHTA) president, and other officials.

The meeting took place as The Bahamas, through the Ministry of Health and Wellness, is preparing to host more than 200 delegates to the Caribbean Public Health Agency’s (CARPHA) 67th Annual Health Research Conference. It was also held to reaffirm ties with the Ministry of Health and Wellness, the tourism sector and regional stakeholders as the Caribbean seeks to move past COVID-19.

Dr Darville and others present stressed the importance of moving the tourism industry forward.

He added that The Bahamas, along with medical experts, shares in the Caribbean’s efforts to keep this nation safe and secure from COVID-19 and other viruses and diseases so that the tourism industry can fully recover.

The CARPHA conference will revert to an in-person event from April 27-29, 2023, at Atlantis under the theme: Caribbean health and tourism: ‘Pathway to recovery and resilience’. It will also be the fourth time it is held in The Bahamas.

CARPHA is the new single regional public health agency for the Caribbean. It was legally established in July 2011 by an Inter-Governmental Agency signed by CARICOM, and began operation in January 2013. The agency rationalises

PS COLIN HIGGS

public health arrangements in the region by combining the functions of five Caribbean Regional Health Institutes (RHIs) into a single agency. The CARPHA Annual Health Research Conference is a platform for showcasing ongoing research to help people better understand the intricate linkages between tourism and health.

The agency said its ratings reflected the balance sheet strengths of CG and CG United, which were assessed as “strongest”, as well as their operating performance, business profile and risk management.

“We are pleased with Best’s assessment of our performance,” Yan LeClerc, CG’s group chief financial officer, said. “It covers a period of significant, positive change for the group and reflects our adherence to sound planning, financial prudence, teamwork and operational consistency across multiple jurisdictions as we continue steady progress towards becoming the insurer of choice across the Caribbean.”

A. M. Best also assigned an outlook of ‘stable’ to the

Bahamian subsidiaries as well as Coralisle Insurance (BVI); British Caymanian Insurance Company; Coralisle Insurance Company; Coralisle Life Assurance Company; and Coralisle Medical Insurance Company.

The rating agency said: “CG completed its acquisition of CG United in May 2022. The transaction included a debt financing arrangement that raised financial leverage moderately over the near term. A. M. Best’s balance sheet assessment includes CG’s financial leverage and the strongest level of risk-adjusted capital, as measured by Best’s Capital Adequacy Ratio (BCAR).

“The addition of CG United aligns with CG’s strategy to balance its health

operations with property and casualty business across numerous Caribbean jurisdictions and provides the opportunity to sell health business in CG United territories. The integration of CG United with CG’s existing operations remains on the original timetable of 12 to 18 months, and has completed a number of major milestones including the rebranding of Massy to CG United.

“A. M. Best will continue to monitor the integration efforts through its expected completion in 2023. Earnings in 2022 remain positive on an operating basis as CG is benefiting from earnings contributions from CG United. However, net income is expected to be negatively affected by adverse capital market

conditions, which have driven unrealised losses in the investment portfolio.

A. M. Best added: “CG United continues to maintain the strongest level capitalisation as measured by BCAR, with increased financial flexibility as part of CG. 2022 operating earnings are expected to remain positive, as the companies’ covered territories did not experience a material catastrophe event in that period.

“CG United expects to realise synergies from being part of CG during and through full integration with the organisation. The realisation of operational synergies may lead to rating enhancement over time.”

DR MICHAEL DARVILLE, minister of health and wellness, welcomed Dr Lisa Indar, head of the regional tourism and health programme (THP) and foodborne diseases, at the Caribbean Public Health Agency (CARPHA), on Tuesday, March 7. Pictured from L to R: Dr Kenneth Romer, deputy director-general, Ministry of Tourism, Investments and Aviation; Colin Higgs, permanent secretary, Ministry of Health and Wellness; Dr Darville; Dr Indar; Dr Pearl McMillan, chief medical officer; and Robert Sands, Bahamas Hotel & Tourism Association president.

Photos:Mark Ford/BIS

Contractor ‘fleeced’ Baker’s Bay homeowners of $10m

them for the construction of a high-end residence at Baker’s Bay.

“Defendants have stolen millions paid by Schumacher Homes for the construction of a luxury residence in Baker’s Bay, The Bahamas,” the lawsuit claimed. “Over the course of approximately one year, from September 23, 2021, to June 17, 2022, Schumacher Homes paid a total of $3.167m based on the submission of fraudulent pay applications.

“Instead of using Schumacher Homes’ funds dedicated for suppliers, defendants embezzled the funds. Moreover, Dickens intentionally inflated the charges for the construction. Of the $3.167m paid todate, only $1.15m has been accounted for as bona fide charges for the construction and proper delivery of funds to suppliers.”

Schumacher Homes alleged that when Dickens realised he was about to be exposed, he transferred “valuable assets” between two Florida companies, Built by Brian and PCS Premier Construction Services. And it claimed that such conduct extended beyond just its property.

“Dickens.... has fleeced at least five other owners of properties in Baker’s Bay through similar fraudulent schemes totaling more than $10m in intentionally diverted funds and fraudulent charges,” Schumacher Homes alleged. There is

no suggestion that Baker’s Bay itself, or its Discovery Land Company developer, knew of or were involved in the alleged conduct by Endeavor Development International, and they are not named in the complaint.

Mr Sands, in response, said of the allegations: “I can tell you that I’ve been maintaining that if we don’t have any regulatory framework to prevent this, why wouldn’t that happen? This is exactly why the Construction Contractors Board and its licensing of contractors is so important.

“Groups show up, present themselves as good, bona fide contractors, and there’s no way to vet them before they get a Business Licence. This is exactly the situation that the public is potentially subject to in every instance. It happens a lot. I know from personal experience of people calling me and saying this person has ripped me off, that person has ripped me off.

“I say to them: You advocate to the Government that they appoint the Construction Contractors Board so that you can be protected in the future and your friends can be protected in the future. That’s the purpose of licensing.”

Even if approved to operate in The Bahamas by the Government, Mr Sands said a foreign contractor would still need to be scrutinised and licensed by the Board once it is finally created. The Board’s establishment remains the final, but

LEONARD SANDS

critical, element to give the Construction Contractors Act full effect and enforcement powers, but successive administrations have cited concerns with its composition and/or nominated members as to why they have yet to appoint it almost seven years after the law was passed by Parliament on May 8, 2016.

Without the Board, there is no way of licensing contractors according to their ability, plus scale and complexity of work they can perform, or ability for consumers to seek proper redress for shoddy workmanship or fraudulent conduct. Mr Sands said the Board would also be able to vet joint ventures between foreign and Bahamian contractors, including determining whether the local side has majority ownership and control. “There’s control on who gets to practice in construction through the Board,” the BCA president told this newspaper. “Foreign contractors would still have

to get a licence from the Board. The Board is the only licensing authority. They would still fall under the Construction Contractors Board or they would be acting ultra vires to the Act.

“That’s why the Act is so powerful. In my opinion, the reason why it’s not been brought into force yet is that it takes away from Cabinet the power to determine who gets to do work and rests it in the hands of a ten-member Board who are not political, appointed by the responsible minister, and come from the relevant professions and associations to licence and regulate construction.”

Besides finally appointing and confirming the Board, Mr Sands said the Government also needs to introduce a new ‘grandfathering in’ period for all existing contractors to be licensed as the initial two-year duration expired in 2018. Once that period expires, they will then have to reapply to be licensed under the Act’s terms and conditions.

“The Act does not have the instrument from which it has its power because the Board has not been appointed,” he added. “Until we have the Board appointed no contractor can make an application to be registered and licensed because there is no one to make the application to. I strongly urge the minister to take whatever steps are necessary to appoint the Construction Contractors Board....

“It’s sad to hear about what’s happened [with Endeavor] but that’s only the tip of the iceberg and just one of many more. That $10m is a drop in the bucket.” Mr Sands also warned that the lack of construction industry regulation could deter hotel and real estate-related foreign direct investment, while also costing Bahamian contractors, sub-contractors and their

workers income from lost opportunities.

Schumacher Homes, in its complaint, alleged that it signed a construction services contract with Endeavor Development International to construct a home at Baker’s Bay on August 22, 2021. The contractor’s profit margin was fixed at 15 percent, and the contract governed by Bahamian law.

However, it claimed that funds were paid for work that was never performed, and building materials that were never paid for, with monies “falsely charged” and “embezzled” by Dickens and Endeavor Development International.

“Schumacher Homes also paid monthly fixed costs for its share of the construction worker camp that includes housing and meals for contractors, in addition to providing dumpster, porta-restrooms and ferry service for contractors and construction workers,” the lawsuit alleged. “Endeavor Development International failed to pay Baker’s Bay Golf and Ocean Club for Schumacher Homes’ share due for these items.”

Endeavor Development International had previously billed itself as “fast becoming the go-to” builder at Baker’s Bay. But that was before Robert Farquharson, the Government’s director of labour, told Tribune Business his department is conducting a probe into claims that some workers had not been paid dating back to September 2022.

A government press release, dated November 30, 2021, had hailed the company for creating “sustainable employment and an economic shot in the arm for Abaco” as it met Keith Bell, minister of labour and Immigration, at his East Bay Street offices.

“The Endeavor team spoke of [their] ongoing commitment to build high

end and luxurious homes on Abaco, and recruiting efforts to have talented and highly-qualified Bahamians join the world class company,” said the release, which is still available on the Government’s website.

“Minister Bell commended Endeavor for its demonstrated confidence in the Bahamian economy and relentless pursuit to train and engage Bahamians at all levels. Endeavor’s delivery of an excellent product that continues to place Abaco on the world stage as a second home mecca has created sustainable employment and an economic shot in the arm for Abaco.”

Endeavor’s website said of the company: “Endeavor is a general contracting firm that specialises in the construction and renovation of new luxury homes, hospitality and commercial projects. Endeavor’s combined experience of over 50 years has included the completion of hundreds of projects from $500,000 to $15m in project value.

“Endeavor projects have included custom luxury homes in the continental US, as well as Caribbean islands, such as The Bahamas and Cat Cay. Hospitality projects have included select and full service properties such as Hampton Inn, Marriott, Hilton, Springhill Suites, Hyatt, LaQuinta, Homewood Suites, Home2 and other major brands.”

As to the present, the website added: “Endeavor’s ability to overcome the challenges of working in an international market has made us a well-regarded and in-demand contractor. We are able to compete with other contractors, and we are fast becoming the go-to contractor in Baker’s Bay, Bahamas. Our performance in getting our crews mobilised and materials in these remote locations exceeds our clients’ expectations.”

Bahamas hits back over OECD ‘non-compliance’

The “peer review” report, which has been seen by Tribune Business, also revealed that The Bahamas had detected a scheme to “circumvent” the tax information reporting requirements mandated by Bahamian law and imposed sanctions on those responsible. Names and details were not provided, but The Bahamas also argued that other complaints over the quality of tax information it was exchanging were overblown. In relation to one country, which purported to have rejected 50 percent of the files received from this nation, The Bahamas said it had only provided this state with two files.

As a result, it argued that an “error” with just one file resulted in this 50 percent rejection ratio, and it was hardly a large enough sample for the OECD to draw the conclusion that

The Bahamas was supplying a “relatively high amount” of problematic information and that the problem had “increased over time”.

The OECD’s findings were deemed serious enough for Ryan Pinder KC, the attorney general, and Michael Halkitis, minister of economic affairs, together with their advisers to fly to Paris last August to try and persuade the group that The Bahamas should not be rated “non-compliant” with the CRS based on just one element. While

they failed to change the OECD’s minds, the forum did give The Bahamas time to address the deficiencies.

The Bahamas, as shown by the “peer review, failed to meet the OECD’s requirements when it came to its financial institutions and providers “correctly conducting the due diligence and reporting procedures” on their clients for CRS purposes. While this nation met the standard required in one of the two areas reviewed, the overall rating for the “technical effectiveness” of automatic tax information exchange was deemed non-compliant.

The review found there were “fundamental issues” that The Bahamas needed to address in this area, and said: “The Bahamas was not able to confirm that it collects and monitors information on the proportion of financial accounts that are reported that include information on the Tax Identification Numbers (TINs) and/or dates of birth with respect to the individuals associated with them.

“These data points are key to exchange partners to effectively utilise the information and are important to developing an effective compliance strategy to ensure the AEOI (automatic exchange of information) standard is being effectively implemented.

“The Bahamas was also not able to confirm that it collects and monitors information on the number of undocumented accounts

reported by its reporting financial institutions. This information is crucial to implementing the requirement to follow up on undocumented accounts.”

Turning to complaints by other countries over the quality of information supplied by The Bahamas, the OECD added: “More generally, many of the exchange partners that received a significant number of records from The Bahamas indicated that they achieved a success rate when matching the information received from The Bahamas with their taxpayer database that was broadly equivalent to, or better than, what they usually achieve.

“Eight exchange partners highlighted issues with respect to the information received, such as missing dates of birth, missing or invalid TINs and incomplete address data. Based on these findings it was concluded that The Bahamas is not meeting expectations in ensuring that reporting financial Institutions correctly conduct the due diligence and reporting procedures, including by having in place the required administrative compliance framework and related procedures.

“More specifically, fundamental issues have been identified including with respect to developing and implementing a complete and overarching compliance strategy that identifies the population of reporting financial institutions and verifies their compliance

Nassau/PI resorts enjoy 112% room revenue rise

FROM PAGE B1

York. It was confirmed that Jet Blue will be launching new daily non-stop service from New York’s LaGuardia Airport to Lynden Pindling International Airport (LPIA) starting on March 30 . The two culinary festivals, The Bahamas Culinary & Arts Festival and Nassau Paradise Island Wine & Food Festival, were both promoted along with the Nassau Cruise Port’s $300m transformation that includes the addition of a sixth berth, a new terminal building, a Junkanoo museum, event and entertainment space, a 3,500-person amphitheatre, a living coral exhibit, local stores and food and beverage facilities.

The Nassau Paradise Island Promotion Board’s update comes after Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, said on Monday that January 2023’s tourism arrivals were some 210,000 ahead of comparatives from 2019’s “banner year” as The Bahamas bids to “meet or exceed” 20 percent growth targets. He told the House of Assembly during the

mid-year Budget debate that visitor numbers for the first month of the year were some 33 percent ahead of that preCOVID performance.

“In terms of arrivals, we see that in 2022, the numbers were up 233 percent over 2021 and we achieved the seven million visitor mark but fell just shy of 2019,” Mr Cooper said. “To understand the gravity of the seven million mark, note that it has only happened once before in the history of The Bahamas. We are targeting 20 percent growth in tourism for 2023, and we have every reason to believe we are going to meet and or exceed that target.”

Describing 2019 as a “banner year for tourism” with over 7.2m visitors, Mr Cooper added: “When we look at what is happening in 2023, we are shattering 2022 numbers and 2019 numbers. That’s good news. What is even better news is that we saw nearly one million visitors to The Bahamas in the first month of this year.

“I’ll repeat that; you may hear me repeat a few things today. In January, we saw nearly one million visitors to The Bahamas. For context, in January of 2023 we saw 846,000 visitors. That

number was 300,000 in January 2022. That is a 166 percent increase from January 2022 to January 2023.

“When we look at 2019; remember that was the banner year, we saw 636,881 air and sea arrivals. January 2023 is a 33 percent increase over 2019 and this trend is holding throughout the islands.” The deputy prime minister yesterday said there had been a 400 percent rise in sea arrivals for Grand Bahama, with “momentum growing” ahead of the Carnival cruise port being completed next year.

Departure tax collections have increased with the growth in visitor arrivals following their COVID-induced interruption, with Mr Cooper saying: “For the first six months of this fiscal year, departure tax collections totaled $71.5m, an improvement of $45m or 85 percent over the prior year.

“In the first half of the year, we collected 73.7 percent of the Budget target for departure tax. Beyond arrivals in 2022, room revenues, average daily rates, overall occupancies and spending by cruise visitors are all up.”

with due diligence and reporting obligations. The Bahamas should therefore continue its implementation process accordingly, including by addressing the recommendations made.”

The Bahamas, though, pushed back by arguing that the OECD’s concerns were overblown. It added that “most of the queries” related to information that was not mandatory under the OECD’s own guidelines, and said: ““The percentage of countries reporting issues is low relative to the total number of exchange partners.

“Another country informed The Bahamas that their matching process is in line with the OECD scheme guidelines, and the matching exercise performed and feedback given to the OECD was not intended to suggest that The Bahamas does not follow or use the OECD guidelines. The matching rates communicated are purely an indication of the challenges faced when trying to match data received, and they understand TIN is currently a contentious topic across the network.”

The Bahamas also appeared to receiving grudging praise for cracking down on efforts by some to evade the automatic tax information exchange reporting requirements. “The Bahamas has taken effective action to address circumvention of the reporting requirements when it has been detected, with reporting of the

information being enforced and a penalty being applied in respect to the circumvention scheme identified,” the OECD “peer review” report said.

However, the OECD later returned to quality of information concerns.

“Feedback from The Bahamas’ exchange partners did not raise any specific concerns with respect to their ability to process the information received from The Bahamas, and therefore with respect to The Bahamas’ implementation of these requirements.

“More generally, four (or 6 percent) of The Bahamas’ exchange partners reported rejecting more than 25 percent of the files received, of which one reported rejecting more than 50 percent of files received due to the technical requirements not being met. This is a relatively high amount when compared to other jurisdictions and it has increased over time. It was noted that The Bahamas is in the process of addressing the issues.

“Based on these findings it was concluded that, overall, The Bahamas is meeting expectations in relation to sorting, preparing and validating the information. It was also noted that there is room for improvement with respect to validating the data and following up with issues when files are rejected. The Bahamas is therefore encouraged to continue its implementation process accordingly,

including by addressing the recommendations made.”

The Bahamas, though, said the rejection rates were not being placed in their proper context. “Please note the context of the country reporting a 50 percent rejection rate. The country reported an error message with one file out of a total of two files submitted,” it added. “An error message on one file out of a total of two files is a small sample to draw the conclusion that ‘this is a relatively high amount when compared to other jurisdictions and it has increased over time’.”

Parliament passed the Automatic Exchange of Financial Account Information (Amendment) Bill 2022 in October - a piece of legislation that it had told the OECD would become law some three months earlier in July 2022. The now-Act provides greater regulatory flexibility and oversight by enabling the Ministry of Finance to delegate its supervisory powers to the Central Bank, Securities Commission, Insurance Commission and Compliance Commission.

These regulators have now become responsible for ensuring their respective licensees and registrants comply with the requirements for automatic tax information exchange, thereby expanding their obligations but also easing the burden on the Ministry of Finance and expanding the supervisory net.

CHEF JAMAL SMALL

JOY JIBRILU

MARV CUNNINGHAM

Japan’s Nissan slashing EV costs, cuts rare materials use

By YURI KAGEYAMA

AP Business Writer

JAPANESE automaker Nissan is revving up its electrification shift and slashing costs by using the same components across models and reducing use of expensive rare materials.

Nissan Motor Co. presented its “X-in-1” development strategy

Thursday, in which the X stands for various powertrain parts such as an electric motor and inverter that can be used across models. The company said development and manufacturing costs will be reduced

by 30% in 2026 compared to 2019 levels. The Yokohama-based automaker was a pioneer in electric vehicles but rivals like Tesla and BYD of China have overtaken it. As the move toward ecological models gains momentum around the world, driven by worries over climate change, Nissan has been eager to showcase its prowess. Its senior vice president, Toshihiro Hirai, acknowledged that prices of rare earths and other materials needed to make electric vehicle batteries and other parts are expected to rise in

IS HEREBY GIVEN as follows:

(a) HONG QI GLOBAL 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 28th 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 9th day of March, A. D. 2023

Bukit Merah Limited Liquidator

coming years. That means automakers must have a solid strategy for obtaining raw materials if they hope to succeed in electrification.

“We make the most of our expertise and knowhow from our more than a decadelong development and production of electrified technologies,” said Hirai.

Compared to the firstgeneration vehicle the Leaf, rare materials account for 25% of the weight of the 2019 Nissan Note EV. Nissan aims to make that 1% or less.

Nissan, which also makes the March subcompact and

Infiniti luxury models, is working on solid-state battery technology for EVs, a move that if successful is expected to radically reduce costs.

By 2030, Nissan’s EV offerings will cost about the same at dealers as the equivalent regular gasolineengine models, Hirai said. The cheapest EVs like the Leaf now sell for under $30,000, although small internal-combustion engine cars are cheaper, at about $21,000 for the Nissan Sentra in the U.S.

A Tesla Model 3, a relatively affordable model

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

(a) SALT & LIGHT 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 7th March, 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 9th day of March, A. D. 2023

Bukit Merah Limited Liquidator

THIS is a 2020 Nissan Leaf on display at the 2020 Pittsburgh International Auto Show Thursday, Feb.13, 2020 in Pittsburgh. Nissan is speeding up its shift toward electric vehicles, especially in Europe where emissions regulations are most stringent, the company said Monday, Feb. 27, 2023.

for a Tesla, sells for about $43,000.

But EVs are usually eligible for tax credits and other incentives. High gasoline

Photo:Gene J. Puskar/AP

prices might make EVs a smart buy in the long run, although much depends on the owner’s driving habits.

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT, 2000 (No. 45 of 2000)

FLIGHTPRO AVIATION LTD.

Registration No. 200653 B

(In Voluntary Liquidation)

Notice is hereby given that in accordance with section 138 of the International Business Companies Act, (No. 45 of 2000), FLIGHTPRO AVIATION LTD. is in dissolution, commencing on the 6th day of March, A.D. 2023. Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Nicholas Wright, whose address is Albany Financial Centre, Suite 304, South Ocean Blvd., P.O. Box N-7776, Nassau,Bahamas. Persons having a claim against the above-named Company are required on or before the 5th day of April, A.D. 2023 to send the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 6th day of March, A.D. 2023.

NICHOLAS WRIGHT Liquidator

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

(a) KENDON 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 7th March, 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 9th day of March, A. D. 2023

Bukit Merah Limited Liquidator

N O T I C E SUNFLOWER BLOSSOM COMPANY LIMITED

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

(a) SUNFLOWER BLOSSOM COMPANY 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 7th March, 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 9th day of March, A. D. 2023

Bukit Merah Limited Liquidator

N

MONTEGO BAY INVESTMENTS LIMITED

C E IS HEREBY GIVEN as follows:

N O T I

(a) MONTEGO BAY INVESTMENTS 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 1st March, 2023 when the Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said company is Leeward Nominees Limited, Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands.

Dated this 9th day of March, A. D. 2023

Leeward Nominees Limited Liquidator

US PROBES TESLA AUTOPILOT, STEERING WHEELS THAT CAN COME OFF

By TOM KRISHER AND MICHELLE CHAPMAN AP Business Writers

U.S. safety regulators are turning up the heat on Tesla, announcing investigations into steering wheels coming off some SUVs and a fatal crash involving a Tesla suspected of using an automated driving system when it ran into a parked firetruck in California.

The National Highway Traffic Safety Administration said Wednesday it is launching a special crashinvestigation team to probe the Feb. 18 crash involving a Tesla Model S and a ladder truck from the Contra Costa County fire department.

The firetruck probe is part of a larger investigation by the agency into multiple instances of Teslas using the automaker’s Autopilot system crashing into parked emergency vehicles that are tending to other crashes. NHTSA has become more aggressive in pursuing safety problems with Teslas in the past year, announcing multiple recalls and investigations.

The driver of the 2014 Tesla Model S was killed in the crash and a passenger critically injured. Four firefighters were treated for minor injuries, and the $1.4 million ladder truck was damaged.

NHTSA is investigating how the Autopilot system

detects and responds to emergency vehicles parked on highways. At least 14 Teslas have crashed into emergency vehicles nationwide while using the system.

Automated driving systems aren’t always involved in the crashes that NHTSA sends investigators to. For instance, the Ohio State Highway Patrol determined that a Tesla that hit one of its patrol cars in November was not operating on “any type of autonomous mode.”

Authorities said the California firetruck had its lights on and was parked diagonally on a highway to protect responders to an earlier accident that did not result in injuries.

Lewis Broschard III, chief of the Contra Costa County Fire Protection District, said his department is concerned about the risks that inattentive drivers pose to themselves, passengers and first responders.

“These unnecessary deaths, injuries, risks to firefighters, and loss of valuable equipment are all preventable,” he said, urging drivers to slow down and move over for emergency vehicles.

“Recent reports of automobiles that may have been operating automated driving systems crashing into parked emergency vehicles at the scene of an emergency is a serious concern for the safety of our firefighters and paramedics and

NOTICE is hereby given that FRANDELINA SATINY of Nassau Street, 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 March, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that NAVILIA LABRANCHE of Chippingham, Rosalind Street, 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 twentyeight days from the 2nd day of March, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that RANDY ST.HUBERT of Shirley Street, 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 March, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

the public we are serving,” Rob Brown Jr., CEO of the International Association of Fire Chiefs, said in an email. A NHTSA spokeswoman said she couldn’t comment on an open investigation when asked if the Teslas are posing a danger to emergency workers.

NHTSA has been scrutinizing Teslas more intensely in the past year, seeking several recalls and opening investigations. Earlier Wednesday, the agency posted documents revealing an investigation of steering wheels that

can detach from the steering column on as many as 120,000 Model Y SUVs.

The agency said it received two complaints in which 2023 Model Ys were delivered to customers with a missing bolt holding the wheel to the steering column. A friction fit held the steering wheels on, but they separated when force was exerted as the SUVs were driven.

The agency says in documents posted on its website Wednesday that both incidents happened while the SUVs had low mileage on

them. In one complaint filed with NHTSA, an owner said he was driving with his family in Woodbridge, New Jersey, when the steering wheel suddenly came off on Jan. 29, five days after the vehicle was purchased. The owner wrote that he was able to pull toward the road divider. There were no injuries. It was a “horrible experience,” the car’s owner, Prerak Patel, told The Associated Press. He said he was in the freeway’s left lane when the steering wheel came off and was lucky the road was straight

and he was able to stop the car at the divider. Messages were left seeking comment from Tesla, which is based in Austin, Texas.TEsla

At first a Tesla service center gave Patel a cost estimate of $103.96 to repair the problem. The service center apologized in what appear to be text messages posted on Twitter. When Patel wrote that he had lost faith in Tesla and asked for a refund, the service center removed the charge.

NOTICE

NOTICE is hereby given that CILNUS METEZE of Blackwood, North Eleuthera, 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 March, 2023 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

LEGAL NOTICE

NOTICE

International Business Companies Act (No.45 of 2000)

Infinity Field Fund Limited (the “Company”)

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of Infinity Field Fund Limited has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was 31st December, 2021.

Elias Ferreira Caixeta Liquidator

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

Harrow European and Emerging Growth Company Ltd.

Notice is hereby given in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of Harrow European and Emerging Growth Company Ltd. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was 28th December, 2022.

Ian McConnell Liquidator

ROYAL CARIBBEAN PAYS FOR SEVEN CROWN LAND ACRES

administration, as it refers to the matching lease number and date it was signed - May 25, 2021.

Of those seven acres, at least two were embroiled in Supreme Court litigation at the time the rental payments were made by Toby Smith, the Bahamian entrepreneur, who alleged he had a valid and binding lease with the Government for that same parcel. Chief Justice Ian Winder ruled against Mr Smiths claims almost three weeks ago, a decision that appears to have helped pave the way for the Government to announce approval of Royal Caribbean’s project.

The lease payments, though, raise questions as to whether Royal Caribbean still has designs on the full seven acres leased to it by the former administration despite the Government’s announcement that it will only receive four of those provided under the original deal. One possibility is that it could receive a partial refund of the prior lease payments to the Government.

Or the cruise giant and the Government might simply be waiting to see whether Mr Smith appeals the Supreme Court verdict, and how any further litigation plays out, before the former takes possession of the full seven acres granted

to it by the Minnis administration. Either way, it remains to be seen whether the Government adjusts or honours in full the original lease.

Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, in unveiling the goahead for Royal Caribbean’s project, said the four acres involved represent none of the land that was caught up in Mr Smith’s legal action.

“This first of a kind project for Royal Caribbean will cover 17 acres, of which 13 acres represent privately-held land and some four acres of Crown land that was included in the lease to Royal Caribbean by the former administration,” Mr Cooper said.

“It is important to note that the land currently proposed under the project has not been subject to any dispute or litigation.

Final approval of the project is subject to submission and approval of a standard Environmental Impact Assessment (EIA) and an Environmental Management Plan (EMP).”

The Minnis administration was heavily criticised when Tribune Business revealed it had effectively gave the cruise giant a minimum 150-year lease over seven Crown Land acres on Paradise Island.

The lease gives the cruise giant an initial 25-year

extension plus “no less than four additional options”. All these “options” are 25 years in length, meaning that when they are added to the original 25-year lease, Royal Caribbean can exercise its rights to potentially occupy that land for one-and-half centuries.

The agreement, which was executed on May 25, 2021, also commits Royal Caribbean to paying an annual $140,000 rent to the Government for use of land that it holds in trust for the benefit of the Bahamian people. Over a 25-year lease, this amounts to $3.5m in total rental income with VAT at 10 percent contributing a further $350,000 to the Public Treasury.

Thus the extra $16,800 and $14,000 on top of the $140,000 rent payments for 2021 and 2022 represent VAT at 12 percent and 10 percent, respectively. These sums, though, pale when set aside the extra $26m in annual visitor spending that the Royal Beach Club is projected to generate, a figure that rises to $650m when extended over the initial 25-year lease term.

The decision to seemingly honour at least part of Royal Caribbean’s Paradise Island lease contradicts the pledge Philip Davis KC made when Opposition leader on March 9, 2020, when he promised that a future PLP government “will terminate” any

such agreement with the cruise giant. In a statement, he argued it would be “grossly unfair” for the cruise line to obtain such a deal in the Colonial Beach area due to the impact on both local businesses and Bahamian access to the area. Confirming that the PLP “fundamentally opposes” any lease of such Crown Land assets, which are supposed to be held in trust and used for the Bahamian people’s benefit, to Royal Caribbean, Mr Davis argued that any such a deal was not in the national interest.

“The deal would set back Bahamian industries, and block Bahamians from the enjoyment of asset use and value in what little is available for ordinary Bahamians,” Mr Davis said, “while nearly monopolising and increasing the riches for Royal Caribbean in The Bahamas.

“The deal would leave Bahamians and the country’s future with the lion’s share of any losses and damage from any unexpected or unforeseen decline in Royal Caribbean’s Bahamas strategy. This is grossly unfair to Bahamians, and the next PLP Government will terminate this agreement.” The then-Opposition leader had continued: “Any project of this type should

be owned and operated by Bahamians, fully utilising Bahamian entrepreneurs, vendors, artists, entertainers, retailers, tour guides, water taxis etc.

“Secondly, no nonBahamian entity should receive preferential consideration over the many Bahamian applicants who have attempted to procure this property. Third, all attempts to purchase this property in the past have been denied for reasons overwhelmingly in the public interest: Colonial Beach is one of the only remaining public beaches on Paradise Island where Bahamians have reserved access.”

Mr Davis said the Crown Land lease to Royal Caribbean threatened the livelihoods of Bahamian entrepreneurs competing for the same cruise passenger dollar, undermined access to Colonial Beach for locals and other tourists alike, while also increasing water taxi-type traffic in an already-congested harbour to take persons across to the Royal Beach Club.

“As with any policy or transaction conducted on behalf of the Bahamian people, the Government has an overriding duty to clearly demonstrate how that policy or transaction is in the interests of the Bahamian people,” he added at the time.

“There is none with this Royal Caribbean deal. Why is the government accommodating the request of

Royal Caribbean Cruise International despite them already having ownership of Coco Cay? “If Royal Caribbean is allowed to acquire government property on Paradise Island and proceed with the project as a sole proprietor, they would be in conflict with both Bahamians and other cruise lines calling at Nassau, which is the leading cruise port in the region.

“In order to preserve public access and government ownership of this only remaining public beach property on that part of Paradise Island, a better arrangement would be to create a public-private partnership (PPP) in which the Government leases the land as its contribution to a project in partnership with Bahamians.

“The partnership would then enter into contracts with all of the cruise lines, not just Royal Caribbean, for the use of the facilities, which would also remain open to the Bahamian public. The contracts could then be used to raise finance for the project and the cruise lines could, if necessary, put up the financing to be repaid from user fees.”

The Government is now likely to argue that it is not leasing, but instead converting the four Crown Land acres into an equity stake in the project that will be held in the newly-created National Investment Fund that replaces the sovereign wealth fund.

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