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MONDAY, APRIL 29, 2019
$4.82 SUPER VALUE OWNER: ‘$1.5M RELIEF IN SIGHT’ VIA VAT COMMISSION By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SUPER Value’s owner has voiced optimism that “$1.5m relief is now in sight” after the recent appointment of the VAT Appeals Commission chairman. Speaking after Ernie Wallace’s recent swearing-in, Rupert Roberts expressed hope that the Commission would start to address multiple disputes and concerns that have left merchants uncertain as to the true extent of their tax liabilities. Revealing that his
business is embroiled in one such dispute, Mr Roberts said the Department of Inland Revenue (DIR) was insistent that Super Value pay the 12 percent VAT on goods and other items it alleged it “sold” to its affiliate Quality Supermarkets chain. Mr Roberts, who owns both brands, denied that his affiliates sold to each other. And he questioned how the DIR could expect his supermarket chain to pay the 12 percent levy without being able to recover it when VAT was supposed to borne by the end-consumer. SEE PAGE FOUR
ALIV ‘MONITORING’ US/UK FEARS ON CHINESE SUPPLIER By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
ALIV’S top executive “can’t praise highly enough” its Chinese technology supplier despite the ongoing controversy over whether it should be allowed to build 5G mobile networks in the US and UK. Damian Blackburn told Tribune Business that the Bahamian mobile provider was monitoring the highlycharged political debate over Huawei’s involvement in these countries, but said this had not impacted its relationship with the Chinese firm “at
the moment”. Huawei supplied the key technological components for Aliv’s two-year nationwide network buildout, while also providing the start-up operator with vendor lease financing to enable it to acquire some of its equipment. Mr Blackburn, though, said this financing had subsequently been assigned to financial institutions. He added that Aliv would “review all factors” when it came to selecting vendors for future expansions, including the potential move to 5G itself. SEE PAGE FIVE
ENVIRONMENTALIST SLAMS ‘NATIONAL PARK TARGETING’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net AN environmentalist is questioning whether the proposed $580m south Abaco resort project is another sign that the Government is “intentionally targeting the national parks” for development.
Sam Duncombe, reEarth’s president, told Tribune Business that The Bahamas appeared to have learned nothing from the battle to save Clifton as the “same fight in different places” continues to be waged throughout the country. SEE PAGE SIX
GOVT BUILDINGS STRATEGY ‘WIN-WIN FOR EVERYONE’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE government’s proposal to structure an investment vehicle that would broaden Bahamian ownership of government buildings is “a win-win for everyone”, a Cabinet minister said yesterday.
Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that such a plan would alleviate the financial burden imposed on the Public Treasury when it came to financing construction/ leasing of property for the government. SEE PAGE SEVEN
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Billionaire US family to buy Roberts’ hotel By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A BILLIONAIRE US family has been confirmed as the purchaser-inwaiting for Rupert Roberts’ Bimini Sands resort, Tribune Business can reveal. The Super Value chief, in response to this newspaper’s inquiries, disclosed that the Asplundh family – who Forbes magazine named as America’s 103rd wealthiest family in 2015, with a net worth of $2.6bn – are the buyers lined up to acquire the property. Describing the purchasers as topclass, Mr Roberts said their arrival was in the best interests of both Bimini Sands and the wider Bahamian economy. “You’re correct,” he replied, when Tribune Business sought confirmation that the Asplundhs are the potential buyers. “I think it’s a really good investor to introduce to The Bahamas. I think they’re going to be good for The Bahamas. “I think they’re gold-plated and royalty. I would imagine the Government will be anxious to approve them and really get things going. “It’s a good, solid family. They’re all salt of the earth, very nice people and
• SUPER VALUE CHIEF: ‘THEY’RE GOLD-PLATED’ • TREE TRIMMING BEHIND BIMINI SANDS BUYER’S FORTUNE • HOMEOWNERS ANTICIPATE PROPERTY PRICE BOOST
RUPERT ROBERTS very easy to deal with.” The Asplundhs, who originate from Philadelphia, trace the source of their wealth to their 91-year-old business, Asplundh Tree Expert, which cuts
trees and vegetation for electrical utility companies. Now under its third generation of family ownership, the company is described as a $3.1bn revenue business that employs a 35,000-strong workforce across multiple US states. It has operated in the Caribbean region before, most notably in Puerto Rico during the first half of 2018 when tree and line repair crews were deployed to help restore power following the devastation inflicted by Hurricane Maria. Tribune Business sources suggested that the Bimini Sands acquisition is a $15m deal which the parties are hoping to close rapidly, although Mr Roberts did not confirm any of this. One Bimini Sands homeowner, speaking on condition of anonymity, expressed their desire for a quick sale and take over by the family. They told Tribune Business: “Rupert Roberts is a very nice guy, but he knows nothing about resort operations.” SEE PAGE FOUR