06062019 BUSINESS

business@tribunemedia.net

THURSDAY, JUNE 6, 2019

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Top realtor urges specific incentives for vacation rentals

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A PROMINENT realtor is urging the government to provide Hotels Encouragement Act-style incentives specifically for the vacation rental market to better empower Bahamian investors.

Mario Carey, pictured, founder of Better Homes and Gardens Real Estate MCR Bahamas Group, is adding his voice to calls for the Minnis administration to balance stimulating local investment in the sector with ensuring there is a taxation “level playing field” with the hotel industry.

While backing the government’s efforts to levy VAT on vacation rentals via the online sites that market them, Mr Carey suggested the sector needed its own specific, targeted investment incentives rather be lost under the wide net of the Hotels Encouragement Act. “I like the fact how they’re exploring Airbnb,” he said of the 2019-2020 budget’s taxation proposal, “but they should also explore Airbnb from an entrepreneurial side. How do you empower Bahamians to enter that

SEE PAGE 10

Tribune Business Reporter

nmckenzie@tribunemedia.net RESORT employers yesterday slammed the hotel union for “deliberately riling up” its members into voting for a strike by misleading them over the 15 percent gratuity’s fate.

Russell Miller, the Bahamas Hotel & Restaurant Employers Association’s (BHEA) president, yesterday read out a statement to the media in which the group - which represents the interests of major New Providence hotels - accused

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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PROMINENT businessman yesterday said his “$1m-plus” new construction venture is aiming to “double sales within a couple of years” once its pre-engineered model takes off.

Robert Myers told Tribune Business that Bahama Island Homes will focus on the Family Island second home market with a construction model that aims to deliver a “higher quality product” by slashing building time by 40 percent.

The company will unveil its technique, which involves constructing only the home’s foundations onsite, with a model property it plans to start work on in six weeks at Andros’ highend Kamalame Cay resort.

Mr Myers explained that Bahama Island Homes will build all roofs, trusses and walls off-site in Nassau - a move it believes will reduce wastage and inefficiency in the construction process, thereby generating cost savings for itself and clients.

He added that these savings will be reinvested into the construction process to generate “a higher quality product” through improved finishings, such

the Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) of engineering a strike vote “around issues that simply do not exist”.

Affirming that hotel employers had never proposed eliminating the automatic 15 percent gratuity, Mr Miller said the union’s leadership had simply made “an uninformed assumption” over the BHEA’s offer and “stirred up” their members’ worst fears to gain overwhelming support for a strike.

SEE PAGE 6

Landfill operator hits ‘80% of goals’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE New Providence landfill’s new operator yesterday said it is “hitting at least 80 percent of our targets”, having already invested $9m of its initial $20m financing.

Henry Dean, deputy chairman of New Providence Ecology Park, told Tribune Business that complaints about vehicle damage from truckers that use the site had dropped by 75 percent since the private

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New construction model eyes 40% build time cut

Resorts slam union over strike ‘rile up’

By NATARIO MCKENZIE

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sector consortium took over operations in mid-March.

And he revealed that the group was also seeking to take over management and control of the adjacent sewage pool, currently overseen by the Water & Sewerage Corporation, into which the contents of all New Providence septic tanks currently go.

The United Sanitation principal, who heads the ownership committee overseeing operations at the Tonique Williams Highway

SEE PAGE 7

• ‘$1m-plus’ outlay targets new pre-engineered level • Businessman aims to ‘double sales in couple of years’ • ‘Higher quality product’ focuses on Out Isl second homes

ROBERT MYERS as impact-resistant windows versus non-impact resistant windows.

Mr Myers said construction will generate work for 30-40 persons on each home, with 16-18 workers on-site at any one-time.

He added that Bahama Island Homes was seeking to “scale up fairly quickly” in terms of activity once it proves the concept can work and deliver the advantages it promises.

“We are in the throes of incorporating, and trying to get active and accounts open to conduct business,” Mr Myers told Tribune Business. “We’re going to do a spec model home at Kamalame Cay in Andros.

“What we’ve done that’s a little bit different is that we’re working on the basis that while we build the foundation on-site, we build the roof, trusses and walls off-site. What that does is it increases our efficiency and decreases the amount of materials we have to ship.

“It lowers the amount of waste from building on the island, and what you have to do on the island. The cost savings, we think, we will be able to put into higher quality finishes. What we’re trying to do is produce a higher quality product, and do it in a short time period,” he explained.

“The net really won’t be any different, but it will be faster and using higher quality finishes - impactresistant windows as opposed to non-resistant windows.”

Mr Myers said home construction in islands such as Andros typically took ten months, but Bahama Island Homes is hoping to cut this to six - a 40 percent reduction. “That’s the startup foundation, and then everything else is erected on-site,” he added.

“A lot of that will be done in Nassau. It’s really a pre-engineered wall and truss system. All the trades will be Bahamian trades.

Nothing changes much in that department.”

Mr Myers said Bahama Island Homes was an extension of the same “philosophy” employed by one of his other companies, which for several years has successfully constructed concrete walls off-site before installing them in “high-end” residences on New Providence.

He explained that his new venture, though, will follow the traditional wood construction employed in Family Island communities such as Harbour Island, Hope Town and Spanish Wells. He described this as “a more environmentally friendly way to build because it’s lighter, more efficient and still strong”.

In addition, Mr Myers said roofing and walls can both be better insulated and achieve “higher energy ratios”, thus making it “more efficient to run and

SEE PAGE 7

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KP TURNQUEST

DPM: SBDC impact magnified five-fold

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE deputy prime minister yesterday argued that every dollar invested in the government’s flagship small business initiative generates an economic impact more than five times’ greater.

KP Turnquest, kickingoff the mid-year budget debate in the House of Assembly, said that every $1 injected into the Small Business Development Centre (SBDC) produces an additional $5.58 in economic growth via the micro, small and medium-sized businesses (MSMEs) it helps to expand.

“All told, it is estimated that for every dollar that is invested in the SBDC by the government, an additional $5.58 is generated in economic growth. This means that every dollar invested in the SBDC creates an extra $5.58 in real dollars on account of the economic activity it creates through the businesses it would have helped,” Mr Turnquest said.

“The average economic impact of entities such as the SBDC around the world

SEE PAGE 13

PAGE 2, Thursday, June 6, 2019

THE RIGHT IMAGE FOR YOUR WEBSITE

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F you have a blog, online store or regular website that you want to look amazing, it pays to optimise each image that is uploaded. We can look at this in three ways: Making images look good; making images load quickly; and making images easy for search engines to index. Most posts go over one aspect of optimisation or another. However, it is best to start with high-quality images.

Stock photography You do not have to be a professional photographer to use great images on your website. It seems that there are more highquality stock photo sites, where you can download free photos for commercial use, emerging every day. Some of my favourites are: Pixabay, Unsplash, Barn Images, PicJumbo, SplitShire, Little Visuals and with a Jimdo website.

Free stock images are also available in your image library.

When an image is downloaded from one of these websites, it will likely be a really big JPEG file.

To compress it for website purposes, you need to reduce the size and upload a smaller version. Starting with a large format is ideal because we can always make a large image smaller.

(Making a small image larger does not work so well).

There are a few easy tricks to making images look well-lit and professional, even without a fancy camera. If you are looking for something more graphic-based, there are tons of new, free online tools that can be used to build your own infographics or photos with font overlays. Always use the right file type: JPEG or PNG. If you are considering different image files such as JPG, PNG, GIF and SVG, just know that on your website you are most likely to use a JPEG (JPG) or a PNG format.

Photographs should be saved and uploaded as JPEGs This file type can handle all the colours in a photograph in a relatively small, efficient file size. By using JPEGs you will not end up with the enormous file you might get if you saved a photograph as a PNG. Graphics, especially those using large, flat areas of colour, should be saved as PNGs. This includes most designs, infographics, images with lots of text in them, and logos. PNGs are higher quality than JPEGs, but typically come with a

THE TRIBUNE larger file size, too.

Like their relatives, the SVG file, PNGs deal with areas of colour and text with nice crisp lines so that you can zoom in and not lose any quality. They also support transparent backgrounds (which you will want if you are using a logo). If you have a choice, I recommend saving PNGs as “24 bit” format rather than “8 bit” because of the better quality and richer array of supported colours.

What if you are using a photograph with text over it?

If most of the image is a photograph, then stick to a JPEG. Most simple image programs let you choose JPG or PNG by going to “Save As”, “Export” or “Save for web”, and choosing the type you prefer.

There are also free browserbased online tools such as Zamzar that will convert files for you.

You can convert a PNG to JPEG, but you do not gain anything by converting a JPEG to a PNG file.

That is because a JPG file is already stored in what is called a lossy format, meaning the image data has already been lost when it was compressed, so you cannot magically bring it back. For example, if you only have your logo as a JPG you will need to go directly to your designer and ask for a PNG file from their original design program, rather than trying to reverse-engineer a PNG

from a JPEG file.

Resize images to optimise page speed and appearance With web images, you want to find the right balance between size and resolution. The higher your resolution, the larger the file size will be. In the world of print, high resolution images are a good thing. But on the web, large size, high resolution images can slow down your website’s page speed. This hurts your users’ experience and, eventually, your search engine ranking. Big images and slow load times are especially annoying for mobile visitors.

There are times when you will want to use large images on your website, such as for your background or hero image. If you use low-quality images and try to blow them up to be big enough, it will look fuzzy.

So, how do you strike the right balance between size and quality? First, it is important to understand that when it comes to images, “size” is a relative term. What you need for print is usually much larger than what you need for a website. Here is an overview of the three main aspects that make up “size”.

• Optimal file size: The number of bytes the file takes up on your computer.

This is the factor that can slow your website way down. A 15 MB (megabyte) image is huge. A 125 KB (kilobyte) image is much more reasonable. If your

file size is really big, it is an indicator that either your image dimensions are too large or the resolution is too high.

• Image size: The actual dimensions of your image, in pixels. You probably think of traditional printed photos as 4×6, 5×7, or 8×10.

But on the web, the height and width are measured in pixels. So, for example, a typical image on a website or blog might be 795 × 300 pixels.

• Resolution for web images: Left over from the world of print, resolution is the quality or density of an image measured in dots per inch (dpi). A professional printer might require images to be at least 300 dpi. But most computer monitors display 72 dpi or 92 dpi, so anything higher than that is overkill and makes your image unnecessarily large. When a design program has the option to “save for web”, it means saving it at a low, webfriendly resolution.

How do you find the file size, image size and resolution of your image?

You can find it by rightclick on the image file, choose “Properties” and then the “Summary” tab.

On a Mac, Ctrl+click on the image file and choose “Get Info”.

Finding the resolution requires a more advanced photo program such as Photoshop, but most basic image editing programs will automatically save images

The Art of Graphix

BY DEIDRE M BASTIAN

at a lower, web-friendly dpi that is a better resolution for web images. If you have the option, always “ Save for web”, which will give your image a web-friendly resolution. You can make a large image smaller, but it is very hard to make a small image bigger. If you think about it in terms of volume, you cannot make a gallon of water fit into a swimming pool.

What do you do if your image is too big for your website?

Reduce the resolution. Most photo programs will automatically compress your image resolution to a “web-friendly” size (72dpi and 92dpi, respectively). You can do this in Photoshop, too, with the “save for web” option.

Compress your image with

SEE PAGE 5

THE TRIBUNE

Thursday, June 6, 2019, PAGE 3

COOPER SAYS DEFICIT WILL EXCEED $400M

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE opposition’s finance spokesman yesterday charged that the government’s 2018-2019 fiscal deficit will exceed $400m, adding that it has as much chance of hitting its $229m forecast as “pigs flying”.

Chester Cooper, the Exuma and Ragged Island MP, argued that his deficit overshoot projection was based on the fact that the government’s revenue numbers “can’t be trusted”.

Predictably describing the budget as “a failure”, he said: “It is painfully clear that there was heavy lobbying for and on behalf of special interests, and their negotiators won. So, I ask, who negotiated for the people? Because clearly the special interests got tax

CHESTER COOPER breaks, and the poor and middle class got shafted once again.

“We see the new car dealers at it again. On top of the $25m lost in excise tax last year because you allowed them to bring in the cars duty-free, and only

pay taxes when they sell the car, they get even more tax breaks this time.”

While no $25m excise tax reduction has been publicly attributed to the “bonded warehouse” facility afforded to auto dealers, Mr Cooper added: “In the

real property tax amendments, the removal of the residency requirement for home owner’s exemption for real property tax.

Instead of six months it is now just seasonal occupancy, which could be widely interpreted and abused by rich second home owners.

“This is going to cost the government millions.

So the rich get loopholes and the poor gets crayons. There is a new tax on currency conversion of 1.5 percent when you exchange currency. Not only does this potentially undermine dollar parity, but it unintentionally encourages hoarding and a black market.

“The exchange control regulation was amended last year to allow businesses to operate US dollar accounts. So this is going to hit the poor

disproportionately. In the simplest terms, as I interpret it, if a straw vendor, jet ski operator or tour operator in Exuma deposits a US $100 bill into their Bahamian dollar account they would receive credit for only $98.50.”

Mr Cooper added: “The minister of finance, apparently in seeking to avoid breaching the limits in the Fiscal Responsibility Act, appears motivated to make the numbers work. Why should we believe any of these revenue projections when the projections for 2018-2019 were so far off target?

“The revenue numbers, in my opinion, can’t be trusted. As of March 2019, the average monthly revenue was $188m per month leading to a projected yearend figure of $2.252bn. The minister, without any explanation, has estimated

the year-end figure to be $2.413bn.

“This difference of $161m has allowed the minister to project a yearend deficit of 1.8 percent rather than three percent.

If he is wrong, as I contend, his budget deficit won’t be $229m but more than $400m on this point alone.

There is no credible financial analyst who would accept these figures at face value.”

Mr Cooper also argued that the government may have over-estimated its business licence revenue by $40m because it had failed to account for the change to the tax regime for financial institutions, which is now a risk-based levy paid directly to financial services regulators - that also eliminates the three percent business licence fee previously paid by commercial banks.

DPM BRANDS OPPOSITION AS THE ‘JUNK BOND CREW’

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net THE deputy prime minister yesterday renewed his attack on the former Christie administration’s fiscal management, branding it the “junk bond crew” for overseeing four consecutive rating downgrades.

K Peter Turnquest, launching an offensive designed to take the sting from opposition attacks on the 2019-2020 budget, accused the prior government of leaving $920m “in unrecorded bills” owed to Bahamian and international vendors.

He provided no breakdown or details to back this number, although he was presumably to the $400m that the Minnis administration borrowed upon taking office in May 2017 to cover what it alleged were unpaid, unfunded bills left behind by its predecessor.

And a key rationale cited by the government for last summer’s 12 percent VAT hike was the need to finance payment of a further $360m in unfunded arrears over a three-year period. That, though, totals some $760m.

Opening the debate on the 2019-2020 budget, Mr Turnquest said: “This is the first budget in the history of The Bahamas that operates within the legally binding confines of the Fiscal Responsibility Act: A law that makes sure the government stays true to its priorities and policies, while handling taxpayers’ hard-earned money in a responsible and transparent way.

“Accordingly, the deficit projected for this budget

year will in fact end up being the lowest deficit this country has seen in ten years, with its corresponding ratio marking the lowest deficit-to-GDP ratio this country has seen in almost two decades.

“Unfortunately, the opposition would not know about these kinds of standards.

They are more used to setting records like recording four consecutive credit downgrades and leading The Bahamas to junk bond status on the international credit market.”

Mr Turnquest continued: “Their track record includes $920m in unrecorded bills to Bahamian and international vendors, running up unprecedented deficits and destroying the country’s fiscal health and reputation.

“Between 2012 and 2017, our national economy actually shrank in size from a level of $10.72bn to a level of $10.6bn for a net contraction of $123m. And this despite an increase in the labour force of some 34,000 persons during that period.

“What this data means is that, during their 60-month term in office, their economic and fiscal management succeeded in leaving a legacy of an economy that was producing less goods and services than when they came to office. The economy of the Bahamas in 2017 was, in real terms, smaller than it was in 2012. That is simply unfathomable.”

It is unclear whether Bahamians are starting to be turned off by the Minnis administration’s frequent blaming of its predecessor for all The Bahamas’ fiscal woes, especially since it is now more than two years’ into its term in office.

However, Mr Turnquest

asserted that the previous Christie administration had registered an aggregate deficit of just under $2.4bn, or almost $500m per year, during its five years. “To put that in perspective, no prior Bahamian government had even remotely come close to posting deficits on that scale,” he said.

Noting that the former government collected some $2bn from Bahamian taxpayers during the fiscal year 2016-2017, Mr Turnquest added: “No government in The Bahamas had ever pulled in so much tax money from its citizens. Indeed, despite raising over $2bn in revenue off the backs of Bahamian taxpayers, they managed to spend over $2.7bn with nothing to show for it but a mountain of unpaid bills, a frustrated populous and a lethargic economy.

“Despite the disaster that was their fiscal record - the same record they never reference when speaking about this government - they are now feigning concern over the fiscal health of the country. They are quick to provide advice to us on this side. Where was the opposition’s fiscal hawkishness when they were in government?

“They are an exposed bunch with much to say about fiscal rectitude when in opposition. But when in office, they revert to their true form and proceed to set records in the run up of deficits and debt. I want to remind them that the Bahamian people are on to them and their fake concern and crocodile tears.”

Mr Turnquest told Parliament that the former administration had brought

about “four consecutive downgrades and record deficits”, adding: “The Bahamian people have seen what their approach to budgetary matters has led to.

“So, I would ask them to understand that we are not prepared to take any economic, fiscal, political, or governance advice from the very same persons who led the country to four consecutive downgrades and to junk bond status. On budgetary and fiscal affairs, I am simply not prepared to take counsel from the ‘junk bond crew’.”

Mr Turnquest said the government is open to a consultative budget process “that involves engaging citizens and listening to feedback – from all parties, except the junk bond crew.

We are particularly open to receiving input from civil society and other stakeholders when forming our fiscal policies”.

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PAGE 4, Thursday, June 6, 2019

LEADING REALTOR NAMES NEW PARTNER FOR FIRM A PROMINENT Bahamian realtor has this week named a new partner in his real estate company.

Mario Carey, president and chief executive of Better Homes and Gardens Real Estate MCR Bahamas Group, hailed the decision by saying 34 year-old broker Tim Rodland “has what it takes”.

“Tim impressed me from the moment he walked into this office in 2012,” said Mr Carey. Four years later, Mr Rodland earned platinum status from Better Homes and Gardens Real Estate, making him one of the youngest in history to achieve the status of “top three percent” in sales worldwide.

“Becoming a partner after seven years is no small achievement in a profession where many agents work for decades and never make partner,” Mr Carey confessed. “But Tim has what it takes. He has a tireless work ethic and studies trends both locally and internationally, staying ahead of the curve and treating every transaction with the kind of attention that builds loyalty and trust.

“He has good leadership skills and is very forward thinking. Tim is a team player who exemplifies selflessness and is always willing to help other agents and staff. He brings to the table experience, innovation and great marketing skills.”

Mr Rodland said: “I am grateful and honoured to become a partner. Mario and I work well together with mutual respect for each

TIM RODLAND, 34, left, has been named partner in Better Homes and Gardens Real Estate MCR Group by firm founder, Mario Carey.

Photo: June Collie/DP&A other.” The partnership became effective on May 1.

The firm, with an office in The Shoppes of Cable Beach and agents throughout The Bahamas, has grown steadily since opening as the first international franchise for Better Homes and Gardens Real Estate in April 2016.

Mr Rodland joined Mario Carey Realty prior to the franchise as the president stepped up recruiting young and, in his words, a “highly energetic and motivated” group of sales associates. Two other sales associates have earned performance awards since the firm joined the franchise.

“We now employ more than 25 people who represent various socio-economic backgrounds and speak various languages,” said Mr Rodland, who was attracted to real estate when he arranged a personal sale and experienced the satisfaction

of structuring a deal. He recalls the reward he felt from having put a buyer and seller together as a teen.

“It was my aunt’s treadmill,” he chuckled. “There was no finder’s fee, just the satisfaction of having done a good thing of helping to meet the needs of both the buyer and seller.” When he was a bit older, he sold what he described as “oversized cordless phones with huge antennas”.

In the first quarter of 2019, Mr Rodland sold a $13.5m beachfront residence in Ocean Club Estates, Paradise Island, mirroring what Mr Carey achieved with the same development. Mr Rodland has represented owners of private islands, resorts and luxury residences in a number of exclusive communities such as Lyford Cay, Old Fort Bay and others throughout The Bahamas.

Founded in 1948, St Andrew’s has a long and proud tradition of providing the highest quality education to our students. St Andrew’s is accredited by the Council of International Schools (CIS), the New England Association of Schools and Colleges (NEASC), and was the first school in The Bahamas to offer the International Baccalaureate (IB) Primary Years Programme (PYP) and Diploma (IBDP) Programmes. We are a diverse community of international and Bahamian life-long learners.

The School invites applications from qualified and experienced Bahamian candidates and Permanent Residents for the following teaching vacancies with effect from August 2019.

Primary School Vacancies Teachers qualified to teach Kindergarten Grade 5 Learning Support Teacher

Secondary School Vacancies

History Teacher Geography Teacher Chemistry Teacher Learning Support Teacher Mathematics Tecaher Physical Education Teacher (Ability to offer a 2nd subject would be an advantage)

Whole School Vacancies Learning Support Teacher Handyman

GENERAL INFORMATION Candidates must be qualified teachers (holding a minimum of a bachelor’s degree or equivalent and a teaching qualification) with at least two years teaching experience. For the primary role, previous experience teaching the Primary Years Programme is an advantage.

Candidates must have experience working with students with diverse learning needs and abilities. Applications from teachers with experience in an independent and/or international school are particularly welcome.

APPLICATION PROCESS Interested candidates should submit their application by email to sandrews@standrews.com.

Please save your application as one pdf document entitled ‘Application from your name’.

All applications MUST include the following: ● Letter of Application. One page. ● Curriculum Vitae. No longer than two pages and should include the contact details of at least three references. One of these should be your current line manager. We will seek your permission before contacting referees. ● A recent photo Failure to provide all this information may result in your application not being considered.

Please note that only shortlisted candidates will be contacted. If you have not heard from us within four weeks of making an application, please assume your application was unsuccessful.

The closing date for applications is Tuesday, 11th June, 2019. Short listed candidates will be invited to interview at the School.

No applications will be considered after the closing date.

St Andrew’s School Business Office P.O. Box EE 17340 Nassau, The Bahamas Email: sandrews@st-andrews.com Fax: 1 242 324 0816 For more information please see the School’s website

www.standrewsbahamas.com

THE TRIBUNE

ALEXANDER DARVILLE, BTVI’s dean of construction trades and workforce development; Anthony Ramtulla, chair of information technology; and chair of math, Archilene O’Brien, presented papers at the fourth annual TVET conference held recently in Jamaica.

BTVI STAFF TAKE CENTRE STAGE AT CONFERENCE THREE Bahamas Technical and Vocational Institute (BTVI) staff members have presented papers at the same international conference for the first time in its history.

Alexander Darville, BTVI’s dean of construction trades and workforce development; Anthony Ramtulla, chair of information technology; and Archilene O’Brien, chair of math, were presenters at the fourth annual international conference on technical vocational education and training (TVET) held recently in Jamaica.

The presentations were given on Working to learn a Skill: The apprenticeship model for The Bahamas; Information communication and technology skills for a global economy; and Making math understandable for TVET students using technology: A case study of ALEKS. Ms O’Brien introduced the Assessment and Learning in Knowledge Spaces (ALEKS) web-based artificially intelligent system to BTVI back in 2016. It zeroes in on the strengths and weaknesses of a student’s math knowledge, reports the findings to the student and then helps improve their knowledge of math via technology.

She summed up the three-day conference as “transformational, adding that being able to add value was a “wow moment”.

“That collaboration on programmes and projects and interconnectivity of a Caribbean region for our students, it almost seemed like one Bahamas became one Caribbean,” Ms O’Brien exclaimed.

“Too many times you are in your small corner and the world passes you by. As an institution, it puts your spot on the graph. It creates a level of reflection and urgency of decisive action.”

Mr Darville said the annual conference is a call for a skilled workforce, and added: “Technology is changing and there is movement of people. It’s a demographic shift. We have to train and re-train. We have to re-tool people to take on new jobs.

Meanwhile, Mr Ramtulla said what stood out to him at the conference was the results-driven focus of participants.

“Most of the people there were into research, and the consensus from the Caribbean is we need more of these career-oriented training sessions. We got to hear what is trending and different approaches in the Caribbean,” he added.

Mr. Ramtulla said there

was a lot of interest in BTVI’s Information and Communication Technology (ICT) summer youth programme. The three-year summer programme, which was launched in 2018 in partnership with the Ministry of Education and the Office of the Prime Minister, began by training ninth graders in the modules of IT fundamentals, Linux Unhatched, Introduction to cyber security, Python, JavaScript, professional performances and ethics.

“We’re taking people from grade nine and, at the end of grade 11, they would have sat six international IT certifications and have half of an associate’s degree,” said Mr Ramtulla.

“At BTVI, we have been using a lot of cloud infrastructure to achieve what we have achieved. We are a gold standard for TestOut because our students have good results. We are training for future jobs – jobs that do not exist as yet. We are heavily on the international standard. In industry, it’s about certifications.”

In 2017 and 2018, BTVI was rewarded for excellent international certification exam results from the Computing Technology Industry Association (CompTIA) out of 40 testing centres regionally.

THE TRIBUNE

Thursday, June 6, 2019, PAGE 5

Titan funds speed up THE RIGHT IMAGE FOR YOUR WEBSITE Family Islands launch FROM PAGE TWO

SEBAS Bastian’s investment house yesterday said potential investor demand had caused it to speed up the launch of its two Titan investment funds outside New Providence.

Investar Securities explained that it had “underestimated” interest from Family Island residents in the Titan Balanced Fund and Titan Fixed Income Fund, which it is projecting will generate returns of seven to ten percent and five to seven percent, respectively. Both funds are approved by, and regulated by, the Securities Commission of The Bahamas.

The two investment funds were launched on June 3. The Titan Balanced Fund has minimum first investment of $500 for 100 shares at $5 each, while the Titan Fixed Income Fund is aimed at accredited investors such as institutions and high net worth individuals.

Investar said interest was sparked by the inclusion of a limited interest in Playtech Systems, parent company of Mr Bastian’s Island Luck web shop chain, among the Titan Balanced Fund’s potential investments. This will allowing fund investors to share in the gaming firm’s success.

“Despite the fund’s limited investment in Playtech Systems, we know that its inclusion lends a sense of

HILLARY DEVEAUX, chairman of Investar Securities, and former executive director of the Securities Commission, said Investar would answer the call from Family Island residents interested in participating in the new Titan investment funds by sending teams to Grand Bahama, Abaco, Eleuthera, Exuma and other Family Islands. excitement and a feeling of joining the journey,” said Ansel Watson, Investar Securities president and chief executive.

“But the overpowering strength of the funds lies in their wider range of investments, including properties with long-term government leased real estate, prime commercial and residential property, government securities and local Bahamian dollar blue chip stocks. Participation in revenue from secured leases, real estate

developments, securities and stocks makes the Titan Balanced Fund a product that has never before been available to Bahamians.”

“We are extremely pleased with the level of interest in the first several days, particularly interest in the Titan Balanced Fund,” said Hillary Deveaux, Investar Securities chairman.

“What we underestimated was the high level of interest from the Family Islands.

There have been numerous calls from people wanting to know if they could bring in documents for others if they came to Nassau.”

Because of strict KYC (know your customer) requirements, fund administrators said taking the offering on the road was the only secure and practical way to proceed.

“It’s like taking the mountain to Mohammed,” said Mr Watson. “But it is worth it. Otherwise, everyone who wanted to help another prospective investor would have to meet specific legal requirements including proving power of

attorney. We did not want the burden to be on the investor so we will accept it at Investar.”

Investar said applications for share subscriptions are being taken at Cash ‘n Go locations on Carmichael Road and Rosetta Street, and Investar Securities on East Bay Street and Deveaux Street.

Executives said they would post the schedule for Family Island visits on its website ivstar.com and throughout social media shortly. Persons applying need to bring a valid Bahamian passport, NIB card, driver’s license if available, and a recent utility bill or bank statement to show place of residence.

Investar Securities directors include Mr Bastian, Lowell Mortimer and Scott Godet, along with Messrs Deveaux and Watson. Titan Fund directors include Dirk Simmons, Felix Stubbs, Heather Beloit-Hazarian.

Leno is the investment manager, while Baker Tilly Gomez is the official auditor.

a free program such as TinyPNG or TinyJPG. Both will significantly reduce your file size without interfering with the quality.

When your images load faster, your website mobile app’s user experience is enhanced, and also metrics such as time on site and conversion rate. However, to make your images load faster, you want the size to be as small as possible, and you want good caching and delivery architecture.

The reason why you should resize images if you plan to load them to the internet for display on a web page, or for inserting into a presentation, is that image file size matters. On the web, the larger the image size, the longer it will take the web page to load. For users who have slower connections, this matters a lot.

Image size also matters a lot when you insert images into presentations such as PowerPoint, because if you keep the image at its original size and insert ten to 20 images into your

presentation, your final PowerPoint size will be huge.

If you do not change the image size in a photo editing application before inserting it into a PowerPoint presentation, and you have ten photos in the presentation, this will make the presentation file size large for an e-mail. It will also take a long time to upload. 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/ marketing coordinator and certified life coach with qualifications of MSc, BSc, ASc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of The Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.

PAGE 6, Thursday, June 6, 2019

Resorts slam union over strike ‘rile up’ FROM PAGE ONE

He also accused the union of misrepresenting both the content, and process to-date, in the two sides’ dealings as they inch towards what are likely to be heated and contentious on the first hotel industry industrial agreement for six years.

Mr Miller’s statement made plain the employers’ anger and distaste for the union’s conduct, describing its behaviour as “unprofessional and, quite frankly, grossly irresponsible”.

He also described the union’s claims that employers were unwilling to negotiate as “at worst, patently dishonest” and “not in the least bit productive”.

It is rare for the BHEA to make such a strongly-worded public statement, given that it is a conservative organisation which, as it pointed out yesterday, never wants to conduct industrial agreement negotiations in public through the media.

Mr Miller, though, said events over the past two weeks leading up to the strike vote - including the burning of the BHEA’s initial industrial proposal - had left it with little choice but

to “set the record straight” for both union members and the Bahamian public, and “reset the basis for future negotiations”.

Mr Miller and BHEA members declined to take questions at yesterday’s media conference, and only addressed the 15 percent gratuity when it came to the union’s specific concerns.

The BHCAWU’s other allegations concerning the employers’ purported bid to end automatic Christmas bonuses, moving them to mid-January and tying them to hotel performance, were not addressed.

Nor were claims of an end to guaranteed Christmas hams and turkeys, or changes to vacation terms and pay on days when workers are sent home. Sheila Burrows, the union’s general secretary, declined to comment on the hotel employers’ statement other than to say the union will respond during tomorrow’s Labour Day holiday.

Mr Miller, though, argued that the hotel union’s impatience to secure a new industrial agreement was “disproportionate” because it had taken more than six years since the previous deal’s

THE TRIBUNE end for it to submit a new proposal - one the employers had responded to in just four months.

Focusing on the strike vote, Mr Miller said: “There has been a deliberate attempt to stir up sentiments around issues that simply do not exist; case in point, the removal of the 15 percent gratuity. This is not a part of the BHEA proposal.

“Apparently the union made an uniformed assumption and chose to mislead their membership in order to rile up the fears of our team members and secure support for a strike vote.” Tribune Business previously reported that hotels are seeking a “more equitable distribution” of the gratuity among the various worker categories that currently benefit from it, not its elimination.

The hotel union’s strike vote follows a recent pattern of trade unions taking such action early in the negotiating process, as happened with the Water & Sewerage Corporation union.

In the BHCAWU’s case, this appears to have been designed to obtain some leverage and bargaining chips it can play in the upcoming talks with hotel employers that are set to begin on June 27. In the hotel union’s case, it had almost no cards to play until the vote due to its failure to abide by the terms of the last industrial agreement six years ago.

Mr Miller pointed out that the last industrial agreement between the two sides expired back in January 7, 2013, but no new deal was agreed because the hotel union missed the October 8, 2012, deadline by which it had to submit its proposal for a new collective bargaining arrangement.

It was required to do this by the terms set out in the old deal, which is being treated as if it is still in effect. Mr Miller added that the BHCAWU “took more than six years” to submit proposals for a new industrial deal, which were sent to member hotels of the BHEA in December 2018 and January 2019. The employers responded collectively some four months later.

“BHEA members acted quickly and responded substantively to the union’s proposal in less than four months of receipt. Surely the union’s level of impatience is disproportionate considering it took them more than six years to submit a proposal,” said Mr Miller.

“For the union to represent to their membership and the public that the industry had not shown a willingness to negotiate was, at best, misleading and, at worst, patently dishonest. Whichever way you chose to characterise it, this was unnecessary and not in the least bit productive.”

Mr Miller added that the two sides’ subsequent interactions were marred by the

union filing trade disputes and misrepresenting the BHEA’s position as being unwilling to negotiate.

He revealed that they met at the Hotels Centre on March 15 this year, where the union was advised that the BHEA was in the process of completing its counterproposal and was confident this would be sent out by the second week in April.

“The union accepted this position and indicated that they looked forward to receiving the industry’s proposal. Yet some time between March 15 and April 18 the union filed a dispute,” Mr Miller said. “The basis of the dispute was that we had not commenced negotiations.

“On April 18, 2019, the BHEA members’ proposal was hand-delivered to the union’s office at Workers House on Tonique Williams Highway. Although the timeframe for the BHEA response to their proposal had been discussed at the March 15 the meeting, the union proceeded to file a dispute with the Department of Labour with the complaint being that we had not sought to commence negotiations.

“It is important to note that up to that moment, the union had not even acknowledged receipt of the BHEA counter-proposal.

The BHEA was notified of the filed dispute on May 7, 2019, when a notice was received to appear at the Department

of Labour on May 15, 2019 to address the matter,” added Mr Miller, noting that it was subsequently agreed that the dispute had no merit.

During the May 15 meeting, the BHEA said its lead negotiator Michael Reckley would be away on vacation in early June, and the first available dates to begin negotiations would be in the latter half of June. The dates were to be proposed within a week.

“As promised, on May 17, a letter was sent from the office of Mr Reckley to the union suggesting a meeting on June 27 to commence negotiations,” Mr Miller said. “Disregarding Mr Reckley’s letter of May 17, on May 21 the union issued a letter proposing negotiations commence on June 4, 5 and 6 2019, ignoring the fact that these dates were already precluded due to Mr Reckley’s unavailability. Again, at best, it is disingenuous and, at worst, it is an attempt to undermine good faith negotiations.”

The resorts that are members of the BHEA bargaining unit are Melia, Atlantis, Ocean Club, Harborside, the British Colonial Hilton, Lyford Cay Club and Towne Hotel. Significantly, Sandals Royal Bahamian, SuperClubs Breezes and Baha Mar are not included.

THE TRIBUNE

Thursday, June 6, 2019, PAGE 7

Landfill operator hits ‘80% of goals’ New construction achieved that, we’ll begin model eyes 40% FROM PAGE ONE the process of identifying build time cut site, said it had achieved its revenue streams to enhance initial goals of “getting everything under control” from a management, remediation and security/safety viewpoint.

He disclosed that the group plans to soon hold an “open house” so that the Bahamian people can inspect the “good strides” they are making in starting to transform the landfill from an ongoing environmental and health disaster that threatens to erupt at any moment.

“Things are going well and progressing satisfactorily,” Mr Dean said. “We’ve been able to cover the exposed garbage, we’ve been able to create some pathways in different areas of the garbage that will help prevent vehicle damage.

“For the truckers, we have reduced the complaints by 75 percent. The damages to vehicles have been reduced by 75 percent. We’ve stockpiled fill to have at hand to cover the garbage, we have started the process of shredding tyres, and we have begun to mulch the green waste.”

He added that New Providence Ecology Park had also begun to address the problems with the adjacent sewerage plant, even though this was not under its direct control. Mr Dean said the landfill operator had completed “about 60 percent” of the work deemed necessary on this overflowing facility, adding that its takeover was “where we want to go”.

“The initial objective is to clear it out, clean it out and have the stuff flowing more smoothly and freely,” Mr Dean said. “We’ve been able to stop the overflow, and we’re going to use much of that stuff to mix and cover the landfill; maybe we’re able to create some fertilizer.

“We have not yet engaged the government. They know there’s an understanding we will have some talks. We would want to get it organised so they could see what we have done and have a better appreciation for it, which would help that process.”

Mr Dean, who also chairs the Waste Resources Development Group (WRDG), the seven-strong consortium of Bahamian waste services providers that hold a combined majority 60 percent stake in the landfill operator, said a fire engine specifically designed to fight landfill fires had already been acquired and was due to arrive onisland in the next two to three weeks.

“What we are doing is arming ourselves and being proactive,” he explained.

“The summer months are here, and if any fire occurs we are going to deal with it aggressively to limit any outburst.

“We’re well on our way to doing the things we want to do. By year-end we will definitely begin the recycling process. Once we get into recycling we’ll see how much of that revenue generates some income for us.

“Our first thrust is to get everything under control, and our capacity to manage and prevent. Having

our income and create some income for the general public.”

Mr Dean said New Providence Ecology Park planned to install new vehicle weigh bridges by October/November this year, which will enable it to better and more accurately calculate incoming garbage loads and levy tipping fees appropriately on waste services providers.

“That will certainly help us to capture what is going on and help us better organise the way forward,” he added.

While the New Providence landfill site is not yet fully enclosed by a fence, Mr Dean hailed the presence of a “dynamic security detail 24/7” that was “patrolling at all hours of the night” and giving extra confidence to all users and businesses present.

The landfill’s deputy chair added that “maybe around $9m” of New Providence Ecology Park’s initial $20m capital raising had been invested to-date, with some 50 persons directly employed at the site by the operator.

Mr Dean said job numbers would likely increase as the landfill operator, now approaching three months into its ten-year agreement with the Government, started to move into its revenue generation stage.

FROM PAGE ONE

operate the A/C”.

Bahama Island Homes is now in the process of procuring materials and equipment, and selecting staff, for the Kamalame Cay launch project that it aims to begin “in six weeks or so”.

“We feel the differentiator is that it gives foreign direct investors and homeowners the ability to know they can execute a building project in a reasonable period of time, which means they’re more likely to purchase,” Mr Myers told Tribune Business.

“We’re really focused on identifying developers and developments where we can build multiple homes. It’s really geared for the Out Islands, where we think there’s much more potential for growth. We’re hoping that we can scale it up fairly quickly.

“With proof of concept that we’re building this efficiently, I think we can grow the business quite quickly and, within a couple of years, hopefully double our sales yearover-year, especially if we

get developers in need of a reliable and efficient building methodology and contractor like ourselves, and give them three to four model choices for pre-designed properties set out for them.”

Mr Myers said Bahama Island Homes would still require a rotating cast of

construction professionals, including plumbers, electricians, sheet rock specialists and tilers, to work in the construction process. It will also need site supervisors, general managers, labourers and other trades.

He added that while the company was originally

working on a two-bedroom model, three and four-bedroom concepts will be developed shortly.

“Right now we think this is a good start,” Mr Myers said. “We want to crawl, walk, run. We’ll see what demand looks like, get the kinks out and get better with the next one.”

AMMENDMENTS TO THE APPROVED LIST OF CANDIDATES AMMENDED FRIDAY, MAY 3RD, 2019

BY ELECTIONS COMMISSION

EXECUTIVE MEMBERS: 1. Rosemary E. Burrows 2. Maralyn Genette Burrows 3. William Ingraham 4. Cyril Morris Jr. 5. Wayne Thompson 6. Kameisha Delique Wells 7. Judd T. Williams TRUSTEES: 1. Jacqueline Lorene Mckenzie 2. Bolinder Newbold – Munroe 3. Vernincha Louise Delcine Simmons 4. Lana Monique Williams-Smith 5. Haldane Alfred Stubbs AREA VICE PRESIDENTS: NORTHERN BAHAMAS: 1. Ann Marie Bullard 2. Eldecia Thompson GRAND BAHAMA: 1. Quintin Howard Laroda 2. George Austin Trevor Mills.

NEW PROVIDENCE: 1. Vernon Jemell Rodgers SOUTHERN BAHAMAS: 1. Ann Louise Strachan TREASURER: 1. Lorraine Knowles 2. John Musgrove ASSISTANT TREASURER: 1. Catherine Knowles-Stubbs 2. Katress Wells SECRETARY – GENERAL: 1. Helena Cartwright 2. Dion Damien Johnson 3. Tiffany M. Delancy-Laing ASSISTANT SECRETARY – GENERAL: 1. Juanita T. Gaitor 2. Cedricka Rolle PRESIDENT: 1. Joan Knowles-Turnquest 2. Belinda Wilson VICE PRESIDENT: 1. Tiffany Burrell-Roberts 2. Jason Haley From the desk of John Musgrove Secretary-General The Bahamas Union of Teachers

PAGE 10, Thursday, June 6, 2019

THE TRIBUNE

Top realtor urges specific incentives for vacation rentals FROM PAGE ONE market in some shape or form through investment.

“Instead of falling under the umbrella of the Hotels Encouragement Act, how can they come under an Airbnb/Vacation Rentals Encouragement Act to get incentives? We need to encourage Bahamians to enter this tourism market and compete with the big hotels. Everybody wins from that. One hundred percent.”

Besides levelling the taxation “playing field” between vacation rentals and hotels/ guest houses, Mr Carey said the development of targeted investment incentive legislation will help increase Bahamian ownership in the tourism industry and spread

its economic benefits more widely through the community, as well as boosting government revenues.

“You always want to empower people to be entrepreneurs,” he added.

“We need to make changes, but that investment needs incentives similar to hotels.

The Government is looking at how to tax it, but they should also say how can we enhance it, improve on it through policy.

“This stimulates Family Island growth, stimulates real estate growth, and enhances the tourism product.” Mr Carey said the vacation rental market should be linked directly to the Ministry of Tourism’s long-standing people-topeople programme, as it provides the accommodation to “give visitors a

flavour of The Bahamas in a different way and encourage interactive experiences”.

Mr Carey also suggested that Bahamian vacation rental owners should be able to use their histories and track records with the likes of Airbnb to develop “profit and loss statements” that would enable them to qualify for commercial bank loans.

The government is “conservatively” estimating it will realise between $8m-$10m per year from levying VAT on vacation rentals, and is in the process of contacting websites and marketplaces to ensure they became VAT registrants and collect and remit the 12 percent levy on its behalf.

KP Turnquest, deputy prime minister, acknowledging that vacation rentals

provided an opportunity for Bahamians to obtain an ownership stake in the tourism industry, and spread the wealth among entrepreneurs and communities that traditionally have had little contact with tourists, when he unveiled the 2019-2020 budget.

But, arguing that the sector needed to pay its fair share to maintain services and infrastructure, he said: “We are mindful of the uneven playing field that this has created concerning hotels and have moved to level the playing field. As such, all online marketplaces that advertise and facilitate vacation rentals in The Bahamas will now be required to pay VAT on their rental and related sales in The Bahamas.

“Thus companies such

as Airbnb, HomeAway, VRBO and all such marketplaces with short-term rentals in The Bahamas will be required to pay VAT. I can advise today that some of these online marketplaces have already become VAT registrants and have been paying VAT, and we are in the process of ensuring that the outstanding e-commerce service providers are made compliant.”

Airbnb had already been levying VAT on the $20-$30 it charges Bahamian homeowners to promote their properties since May 2019, but it is unclear whether the government will also impose - and, indeed, if it is able to impose - the 12 percent tax on the income earned by local industry players if they make more than $100,000 per year.

NOTICE OF TERMINATION Notice is hereby given that the trusts of USIF, Real Estate (the “Fund”) have been terminated and the Fund is in liquidation. There being insufficient funds to satisfy the claims of the Fund’s creditors, no distribution will be made to shareholders of the Fund at the conclusion of the liquidation.

The liquidator of the Fund is BF Company Limited, Providence House, East Hill Street, PO Box N-4853, Nassau, Bahamas.

NOTICE IS HEREBY GIVEN that all persons having any outstanding claims against the Fund should send particulars thereof to BF Company Limited at the address aforesaid within thirty (30) days of the date of publication of this Notice.

The liquidation is expected to be completed on or about the 31st day of July, 2019.

Dated the 6th day of June, 2019.

BF Company Limited Liquidator

Matt Aubry, executive director of the Organisation for Responsible Governance (ORG), which commissioned an Oxford Economics report that identified vacation rentals as a sector that offered possibilities to grow and diversify the economy while creating Bahamian ownership, previously echoed Mr Carey in urging the government to ensure its tax plans do not “throw the baby out with the bath water”.

Acknowledging its interest in ensuring a taxation “level playing field” with the hotel industry, he added that the government also needed to examine how it could incentivise vacation rentals and their links to other Bahamian sectors such as light industries and agriculture - especially in the Family Islands.

“We have to make sure we’re not going for nickels while throwing away dollars,” Mr Aubry told Tribune Business, adding that vacation rentals needed to be viewed “as a really important opportunity for the Bahamian economy, as it opens the door for Bahamian ownership in tourism and we should look at ways to grow and incentivise this market.

“Along with a tax what kind of incentives are we going to put together? We don’t want to see it as a short-term gain. We want to see this as something that leads to growth that is sustainable and facilitates local economic development. We can’t see this as a way to fill gaps in this budget cycle.”

To advertise in The Tribune, contact 502-2394

THE TRIBUNE

Thursday, June 6, 2019, PAGE 13

DPM: SBDC impact magnified five-fold FROM PAGE ONE is estimated at only $2.33, which suggests that the activities of our own SBDC are guided in a way that garners the most benefit per cost, and in a way that drives our economy at a rate that is higher than its global counterparts.”

Mr Turnquest did not provide the study or empirical basis supporting these figures or assertions, although the amount of figures unveiled yesterday suggests that some kind of economic impact assessment and modelling on the SBDC has been conducted.

Voicing optimism that the SBDC, a three-way partnership between the government, Chamber of Commerce and University of The Bahamas will have a “truly staggering” economic impact, he added:

“Just in the last six months of this year alone – and still very much in its infancy the SBDC is expected to generate through its development of small businesses approximately 43 jobs, inclusive of new, part-time, and retained jobs.

“Nearly $145,000 in salaries is expected to be created, while some $210,000 is anticipated to be retained. In addition, it is intended to garner the government some $197,000 in revenue, through VAT, business license, Customs Duty and NIB payments.

“The SBDC has advised nearly 500 small, new and existing businesses/individuals across The Bahamas.

Since its inception, they have invested well over 67,000 hours in advising, training, courses, and research and site visits, “ Mr Turnquest continued.

To advertise in The Tribune, contact 502-2394

HANDYMAN/ MAINTENANCE PERSONNEL INCORPORATED TRUSTEES OF THE CHURCH OF ENGLAND POSITION DESCRIPTION § The Handyman reports to the Diocesan Administrator and is responsible for

providing general repairs and maintenance of Addington House Complex and the Church House property. § The individual is required to live on site.

RESPONSIBILITIES § Provides general repairs and maintenance to the Addington House Complex.

• To walk around the office complex and Shirley Street frontage.

• To remove any litter on premises.

• To manicure the lawns and flower beds.

• General repairs to building such as masonry, carpentry and painting.

• Assist with lifting of items for the bookstore and office.

• Participate in major repair work on building by outside contractors.

• Responsible for security for premises.

• Maintenance of archives area.

• Available after hours as needed.

• Any other reasonable duties as requested. § Provides general repairs and maintenance to the Church House property.

• To walk around the office complex and property.

• To remove any litter on premises.

• Any other reasonable duties as requested.

ACCOUNTABILITY

Ensure walkabout is done on a daily basis.

Ensure that yard and surrounding areas are free of leaves and litter.

Ensure that lawns and flower beds are always neatly manicured.

Ensure that premises are free of vagrants and stray animals.

Ensure that the buildings are always properly painted.

Ensure that boxes are properly stacked and general archives area maintained.

Ensure that outside lights are turned on in the evenings and turned off in the mornings. § Ensure that the Addington House Complex is properly secured in the evenings and weekends.

§ § § § § § §

Applications must contain a cover letter and CV and may be submitted via email to hr@bahamasanglican.org or dropped off at the Diocesan Office, Sands Road no later than Tuesday June 11, 2019 at 5pm.

“Further, there are roughly 61 companies still in the pipeline that are in the developmental stages where they are receiving advice and taking courses to be eligible for funding. It is estimated now that the funding that will be available to them is in the neighbourhood of $7m. This means more companies will be started, more companies will be expanded, and more dreams will be realised.”

Mr Turnquest, though, conceded that the SBDC’s work needed to be accompanied by improvements to The Bahamas’ ease and cost of doing business if the MSMEs it graduates are to become sustainable and thrive.

Touting “substantial” improvements in the time taken to process and approve permits, he said: “Compared to last year, persons now get their business license 37 percent faster, and renewals 77 percent faster, while the time it takes to get a property conveyance registered has fallen by 44 percent.

“Additionally, it now takes 12 percent less time to get a construction permit approved than it did last year. Thanks to these changes, people are in business faster, construction projects are starting faster, and people are now spending less time transferring properties. These are real time impacts that people are feeling due to the work of this government.”

PAGE 14, Thursday, June 6, 2019

THE TRIBUNE

TRUMP SEES PROGRESS IN MEXICO TALKS BUT ‘NOT NEARLY ENOUGH’ WASHINGTON Associated Press STRAINING to stave off threatened US tariffs, Mexican and American officials claimed progress in White House talks late yesterday, but President Donald Trump, pictured, declared it was “not nearly enough” to halt the import taxes he is holding out as a way to force Mexico to stanch the flow of Central American migrants flooding America’s southern border.

Talks continued into the night at the State Department and were

to resume today.

Underscoring the scope of the problem, the Department of Homeland Security announced separately that US Border

Patrol apprehensions of migrants illegally crossing the border hit the highest level in more than a decade in May: 132,887 apprehensions, including a record 84,542 adults and children traveling together and 11,507 children traveling alone.

The threatened tariffs carry enormous economic implications for both countries, and politically they underscore a major ideological split between Trump and his party. Trump has increasingly relied on tariffs as a bludgeon to try to force other nations to bend

to his will, dismissing warnings, including from fellow Republicans, about the likely impacts on American manufacturers and consumers.

Renewing his threat Wednesday, Trump tweeted from Ireland that the Washington talks would continue “with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule”.

Mexican Foreign Secretary Marcelo Ebrard said immigration, not tariffs, was the main focus at the

NOTICE

NOTICE

NOTICE is hereby given that FELIX ORVIL of Dignity Gardens, Nassau, 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 31st day of May, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that PERRY ATTFIELD of Lazy Shore Rd., Rainbow Bay, Eleuthera, 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 30th day of May, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Legal Notice

LEGAL NOTICE

NOTICE

NOTICE

(In Voluntary Liquidation)

KALOTYCHIA LIMITED

PANTHEON LIMTED NOTICE IS HEREBY GIVEN that an extraordinary general meeting of the Shareholders of Pantheon Limited is hereby called to be held at 11 Armstrong Street in the City of Nassau on the Island of New Providence on Friday the 5th day of July A.D., 2019 at 10:00 o’clock in the forenoon of that day.

A member entitled to attend the above meeting may appoint a proxy to attend and vote instead of him or her. A proxy need not be a member of the Company.

INTENT TO CHANGE NAME BY DEED POLL

a)

KALOTYCHIA 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 31st May, 2019 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, Nassau, Bahamas.

VIRGINIA BULLARD nee THOMPSON Liquidator

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,155.01 | CHG: -3.79 | %CHG: -0.18 | YTD: 45.56 | YTD%: 2.16 BISX LISTED & TRADED SECURITIES 52WK HI 4.50 20.91 7.00 5.50 2.60 2.00 3.15 11.05 6.17 4.64 12.50 2.74 1.96 9.51 7.00 15.60 7.75 3.75 14.00

52WK LOW 3.50 19.17 4.90 3.85 1.00 0.19 2.00 8.89 6.13 3.54 10.00 2.35 1.60 7.50 6.10 11.00 6.20 3.01 12.51

PREFERENCE SHARES 1000.00 1000.00 1000.00 1000.00

1.00 103.00 100.00 100.00 105.00 103.00 100.00 10.00 1.01

1000.00 1000.00 1000.00 1000.00

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Commonwealth Bank Class Fidelity Bank Class A Focol Class B

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

E J K L M N

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

Bahamas Note 6.95 (2029) BGS: 2015-1-3Y BGS: 2014-12-5Y BGS: 2015-1-5Y BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-3Y BGS: 2015-6-5Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-3Y BGS: 2015-10-5Y BGS: 2015-10-7Y

BAH29 BG0203 BG0105 BG0205 BG0107 BG0207 BG0130 BG0230 BG0303 BG0305 BG0307 BG0330 BG0403 BG0405 BG0407

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.48 10.00 2.79 1.85 9.58 7.00 14.45 7.75 3.16 14.00

CLOSE 4.18 17.43 6.00 5.40 2.58 1.95 2.21 11.05 6.16 4.45 10.00 2.79 1.85 9.73 7.00 14.45 7.75 3.16 14.00

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.03 0.00 0.00 0.00 0.15 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00

CHANGE 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

2,220

1,757

VOLUME

EPS$ 0.167 0.932 1.760 0.323 0.098 0.000 -0.438 0.708 0.480 0.184 0.627 0.102 0.209 0.000 0.611 0.743 0.939 0.205 0.631

DIV$ 0.130 1.260 0.000 0.250 0.000 0.020 0.000 0.710 0.220 0.120 0.620 0.068 0.060 0.328 0.240 0.500 0.200 0.090 0.600

P/E 25.0 18.7 N/M 16.7 N/M N/M -5.0 15.6 12.8 24.2 15.9 27.4 8.9 N/M 11.5 19.4 8.3 15.4 22.2

YIELD 3.11% 7.23% 0.00% 4.63% 0.00% 1.03% 0.00% 6.43% 3.57% 2.70% 6.20% 2.44% 3.24% 3.37% 3.43% 3.46% 2.58% 2.85% 4.29%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

INTEREST Prime + 1.75%

MATURITY 19-Oct-2022

6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

YTD%12 MTH% 1.22% 3.96% 0.74% 3.42% 0.97% 2.67% 2.06% 4.97% 4.52% 0.96% 1.57% 4.58% 0.99% 4.25% 1.32% 4.12% 3.22% 5.64% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%

NAV Date 30-Apr-2019 30-Apr-2019 26-Apr-2019 31-Mar-2019 31-Mar-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Apr-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019

MUTUAL FUNDS 52WK HI 2.23 4.27 2.05 188.32 158.55 1.62 1.76 1.70 1.15 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.69 11.79

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.56 1.68 1.64 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.23 4.27 2.05 188.32 154.49 1.62 1.76 1.70 1.15 7.66 8.94 6.71 11.25 11.94 10.59 9.92 8.68 11.38

MARKET TERMS BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

PUBLIC NOTICE

The Public is hereby advised that I, NADIGE WILLIAMS and ROEHENEL DANIEL SR, of 1B Cavney Drive, Freeport Grand Bahama, Bahamas, parents of ROCHENEL DANIEL JR a minor, intends to change his name to ASHER DANIEL. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas, no later than thirty (30) days after the date of publication of this notice.

Bukit Merah Limited Liquidator

WEDNESDAY, 5 JUNE 2019

The public is hereby advised that I, DeAngello Antwyne Sturrup of #23 Pinehurst Drive South Bahamia, Freeport, Grand Bahama, Bahamas, intend to change my name by Deed Poll to DeAngello Antwyne Saunders. If there are any objections to the change of name by deed poll, you may write such objections to the Chief Passport Officer, P.O.Box N-792, Nassau, Bahamas no later than thirty (30) days after the date of this publication notice.

INTENT TO CHANGE NAME BY DEED POLL

Dated this 6th day of June, A. D. 2019 _________________________________

Dated the 6th day of June AD, 2019

gangs, violence and poverty. Many of the travelers are expected to eventually request asylum.

Administration officials have said Mexico can prevent the tariffs by securing its southern border with Guatemala, cracking down on criminal smuggling organisations and entering into a “safe third country agreement” that would make it difficult for those who enter Mexico from other countries to claim asylum in the US. The US, however, has not proposed any concrete benchmarks or metrics to assess whether Mexico is sufficiently stemming the migrant flow from Central America. And it is unclear whether even those steps would be enough to satisfy Trump on illegal immigration, a signature issue of his presidency and one that he sees as crucial to his 2020 re-election campaign.

Heading into the meeting, which Mexico requested, White House officials had downplayed expectations, saying the US delegation was willing to listen to Mexico’s ideas for meeting Trump’s demands, but did not expect a deal to emerge yesterday.

And it remained unclear what kind of deal could be struck with Trump out of the country.

PUBLIC NOTICE

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

The object and purpose of the said meeting is to have laid before the shareholders of the Company the account of the Liquidator thereof, Virginia Bullard nee Thompson, showing the manner in which the winding up of the Company has been conducted, the property of the Company distributed and the debts and obligations of the Company discharged, and also to hear any explanation that may be given by the Liquidator.

White House meeting, which included Secretary of State Mike Pompeo, Vice President Mike Pence and other US officials.

“We are optimistic,” he said at a news conference at the Mexican Embassy.

Meanwhile, Republicans in Congress are threatening their own confrontation with Trump, warning the White House that they are ready to stand up to the president to try to block his tariffs, which they worry would spike costs to US consumers, harm the economy and imperil a major pending US-Mexico-Canada trade deal.

Without a deal, the first tariffs — 5% taxes on imports from Mexico, eventually increasing to 25% — are to go into effect next Monday, and Trump has said that is “more likely” than not to occur despite the stiff and vocal opposition from many fellow Republicans. Trump has been seething for months about the spike in migrants trying to cross the southern border and has proposed a series of increasingly radical solutions, including completely sealing the US-Mexico border and renewing his controversial family separation policy.

Most of the migrants trying to enter the country are from Guatemala, Honduras and El Salvador, countries wracked by

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

NOTICE

NOTICE is hereby given that YAKUHU LOUIS of Bacardi Road, Nassau, 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 30th day of May, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that CHRISTINA PRIDORME of Dundas Town, Abaco, 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 30th day of May, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that SHAQUILLE DAVID WILLIAMS of Wulff Road, P.O.Box SS-6043 Nassau, 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 31st day of May, 2019 to the Minister responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.