06122020 BUSINESS

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FRIDAY, JUNE 12, 2020

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‘biggest’ COVID-19 rise ‘inevitable’ Bahamas employment claim with tourism’s reopening rejected on appeal

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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EQUIRING visitors to take a COVID-19 test before they enter The Bahamas is “a non-starter”, a Cabinet minister argued yesterday, while warning that the tourism industry’s July 1 re-opening will “inevitably” increase cases.

Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that The Bahamas would “suffer an unprecedented period of economic malaise” if it failed to restart the industry that provides the greatest amount of jobs and foreign exchange

• Visitor testing pre-arrival ‘non-starter’ • Minister in stark warning on dangers • ‘Unprecedented malaise’ if stay closed

DIONISIO D’AGUILAR

earnings despite the risks associated with triggering a potential second wave of COVID-19 infections.

Speaking after Dr Duane Sands, former minister of health, told the House of Assembly that no one should be admitted to The Bahamas without undergoing a PCR molecular swab test for COVID-19 prior to their arrival, Mr D’Aguilar admitted that the issue continues to pose “a conundrum” for the touristdependent nation.

He added, though, that the time, expense and logistical difficulty involved in mandating that tourists obtain such a test before departing for The Bahamas was viewed by the tourism industry as too difficult “an impediment to overcome” when seeking to attract business back to this nation after July 1.

“The Ministry of Tourism consulted industry and it was the firm belief of The Bahamas Hotel

SEE PAGE 4

Sandals’ November reopen to have ‘devastating effect’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A UNION leader last night warned that Sandals’ delaying the reopening of its flagship Cable Beach property until November 1 will have “a devastating effect” on staff who will be “unable to survive another five months”.

Obie Ferguson, the Trades Union Congress (TUC) president, told Tribune Business he was still trying to discover why Sandals Royal Bahamian will remain closed until that date after only being informed of the situation yesterday.

Mr Ferguson, who acts as the attorney for the Bahamas Hotel, Maintenance and Allied Workers Union, which is the bargaining agent for the resort’s line staff, said the consequences of waiting four months

• Union boss: ‘Staff can’t survive until then’ • Minister ‘very concerned’ at November 1 date

OBIE FERGUSON beyond the Bahamian tourism industry’s muchtrumpeted July 1 re-opening would be “terrible, terrible” for a Sandals Royal Bahamian workforce that is several hundred strong.

Research by this newspaper confirmed that the resort’s re-opening date is listed as November 1 on Sandals Resorts

Oil explorer: Merger ‘assures’ bahamian well will be drilled

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net AN OIL explorer yesterday said its pending merger with another Caribbeanbased operator “assures rather than threatens” the delivery of its first well in Bahamian waters by yearend 2020.

Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive, reiterated for the second time this week that the company’s latest expansion move poses no danger to its ability to fulfill its licence obligations to drill an exploratory well in waters south-west of Andros.

SIMON POTTER Speaking after BPC unveiled its all-share merger with Columbus Energy Resources, an oil and gas producer with interests in Trinidad and Suriname, Mr Potter said the deal and its execution

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Insurer: Dorian causes largest vehicle losses

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS First says Hurricane Dorian’s devastation caused its “largest motor vehicle” loss ever with 538 claims producing gross losses of more $6m in that business category.

The property and casualty insurer’s 2019 annual report adds that while most of that sum was covered by its reinsurers, most claims were for “total losses” due to the impact of the category five hurricane’s storm surges and associated flooding.

“Hurricane Dorian

produced our largest motor loss arising from a natural disaster with some 538 claims across the affected areas,” Bahamas First informed shareholders. “Our gross losses were over $6m for this line of business, but this was reduced considerably by reinsurance recoveries.

“The vast majority of these claims resulted in total losses for the vehicles concerned and, hopefully, this will result in relatively robust replacement vehicle activity in the two islands that were mainly impacted.

SEE PAGE 5

International’s website. A press release sent out by the resort chain, which is controlled by Gordon “Butch” Stewart and his family, also carried the same date, but this newspaper was unable to reach executives before press time to explain the delayed Royal Bahamian re-opening.

While several of its other Caribbean properties are not scheduled to re-open until later in the year, a Sandals resort in Antigua has already opened on June 4, and its second Bahamian property - Sandals Emerald Bay in Exuma - is due to come back online on July 2 in line with the sector’s general re-opening plan.

“I have made some inquiries, but quite frankly

we have not been able to ascertain the exact reasons,” Mr Ferguson told Tribune Business of Sandals Royal Bahamian’s November 1 re-opening. “It’s terrible, terrible. It takes them down to a level of survival.

“That’s going to have a devastating effect on the whole workforce because there is no way they will be able to survive for the next four to five months.

The income just isn’t there.

The ones I have spoken to are having great difficulty paying their rent, supplying food for their families, making car payments and meeting just normal medical expenses by purchasing pharmaceutical products.”

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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A $1.346M wrongful dismissal claim against a BISX-listed insurer, rejected by the Court of Appeal, was yesterday branded by an employment law specialist as the “biggest” he has ever seen in The Bahamas.

Robert Adams, consultant attorney at Delaney Partners, who led Family Guardian’s successful defence against the action brought by a former agency manager, told Tribune Business he was unaware of such damages being sought in any other case.

“To my mind, this is the largest,” he said. “As far as I’m concerned I’ve never dealt with any claim as large as this from an individual employee. I haven’t seen anything bigger in The Bahamas, and I’ve done a fair amount of them.”

The Court of Appeal, in a June 10 verdict, rejected the breach of contract and wrongful dismissal claim by Julie McIntosh, a 26-year Family Guardian veteran, who waited until almost five years after her departure to initiate legal action against the BISX-listed life and health insurer.

Appeal Justice Stella Crane-Scott, in a unanimous verdict, noted that the dispute arose after a 2011 internal restructuring sought to transform Family Guardian’s agents and agency managers into “financial services sales representatives”.

Detailing the background to the legal fight, the Court of Appeal noted that Mrs McIntosh was hired as a Family Guardian agent on August 26, 1985, via a contract that permitted the insurer to modify the

provisions relating to commission payments at any time. And her employment could be terminated by either side, “with or without cause”, via written notice.

More than two decades later, Mrs McIntosh was promoted to agency manager on January 16, 2007.

The contract terms allowed Family Guardian to terminate her employment with “not less than two months” written notice, and to invoke this clause for any breaches it deemed serious.

A key term of the contract also required her to “continue operating as an agent”, and failing to do so would result in “immediate” termination. This ultimately became key when Mrs McIntosh, who was earning $450,000 per year, refused to accept the employment terms offered to her, including an altered commission structure, when the 2011 restructuring was initiated.

“On January 12, 2011, Family Guardian wrote to its agents and agency managers (including Mrs McIntosh) informing them that due to various legislative changes which had taken place in the insurance industry, it had decided to undertake certain internal restructuring,” Appeal justice Crane-Scott wrote.

“Family Guardian’s agents and agency managers were invited to agree to the terms of a proposed financial services sales representative agreement (FSSRA) under which they would operate as financial services sales representatives for a new entity, FG Insurance Agents and Brokers Ltd, which was described as a whollyowned subsidiary of Family Guardian.”

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PAGE 2, Friday, June 12, 2020

THE TRIBUNE

HOW TO DELIVER QUALITY AMID COVID-19 CRISIS

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HE US Centres for Disease Control and Prevention (CDC) recommends, and governments mandate, that we wear masks and exercise social distancing in all public spaces. Engaging customers is a challenge at the best of times, and as we continue our phased return to the physical work space, a frank discussion on how best to serve with excellence in the new normal must be held.

Businesses that are customer-facing have much to discuss. Perhaps the leading question is: What steps must companies take to provide the service that customers want despite the restrictions?

Today we offer these suggestions: 1. Acknowledge customer issues and work

with them on resolutions.

There are any number of your customers who have been emotionally traumatised by the COVID-19 experience. They are not comfortable coming out of their homes and into public spaces. Perhaps this is a time to talk to them about the steps you have taken to ensure their safety. This may also prove to be an awesome time to extend safe delivery services, where you assure them your drivers will practice all of the necessary protocols required.

2. Offer value where you can. This is an approach that many companies have adopted lately. It provides the opportunity to step in and help each other when everyone is going through similar troubles.

Some companies may offer a discounted rate until July 31 to help persons know

they are appreciated. Have a meeting with your team to discuss what you can do for your customers. Coupons, free licenses, reduced prices and access to premium services could all prove helpful in these tumultuous times.

If you can personalise the offerings, all the better.

Research bears out that 80 percent of consumers value personalised experiences.

3. Train your team members to smile through the mask. The best way to allow a smile to penetrate a mask is to authentically smile behind the mask. The eyes will convey that you are smiling. The tone of voice and the choice of words will also convey that you appreciate the business. There are hand gestures, plus head and body movements, that will signal to the customer you are present and interested in giving your best to

serve them.

4. Implement self-service.

Most people nowadays are used to finding information on their own – that is why search engines such as Google are so popular.

And it is no different for customer service, where self-service provides a way to get answers about a brand or product. Implementing self-service on top of other customer support methods is an effective strategy. In times of physical distancing, it can be critical. If people do not go to physical stores to purchase products, they are likely to do this online. This means that your contact centre might deal with an increased volume of requests as issues arise. Providing effective ways to self-service, in the absence of an immediately available live representative, can ease the workload

of your contact centre and reduce waiting times for customers.

5. Spruce up your e-commerce process. With all of the purchases happening online, you need a virtual shopping experience that is second to none. This extends from the moment a customer visits your site to look for products through to the time they receive their order confirmation e-mail – and beyond.

6. Care for your employees. It is generally accepted that happy employees equal happy customers.

The more satisfied and wellequipped employees are, the better the care they will provide to your customers.

Especially at a time when your sales associates or customer service employees move from on-site work to remote work, they need reassurance that you have

IAN FERGUSON BY

their backs.

• NB: Ian R Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@ coralwave.com.

Onion farmers fear bumper crop waste NORTH Andros-based onion farmers are fearful that COVID-19 restrictions could result in their bumper harvest going to waste.

The Bahamas Agricultural and Industrial Corporation (BAIC), in a statement yesterday, said farmers are worried that continuing restaurant and hotel closures, combined with ongoing nightly curfews and other COVID-19 restrictions, will result in much-reduced demand and a substantial market over-supply.

The government agency added that the

North Andros packing house has in recent weeks received hundreds of sacks of onions that had to be graded and prepared for shipping to New Providence produce exchange for sale.

BAIC said it had reassured the farmers that “every effort is being made to ensure their produce is being graded and shipped to New Providence in a timely manner, so that wastage can be brought to a bare minimum”. It urged the famers to show “patience as efforts are underway to resolve their grievances”.

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MOSAIC Modular says it provides home designs that are weather-resistant builds and insurance approved.

Photo: Barefoot Marketing

MODULAR HOME BUILDER EXPANDING ITS REACH A NEWLY-established modular home builder is expanding from its Freeport base to serve Family

Island residential and small commercial clients with storm-resilient structures.

Mosaic Modular, led by its chief executive, Edward Rice, opened in Freeport just before Hurricane Dorian hit the island to supply modular homes that are weather-resistant builds and insurance approved.

“Having lived in Freeport for some years previously, I knew right from the outset that it was the perfect location for us to launch this building system,” said Mr Rice. “The Bahamas is a place that needs a sustainable solution to withstand the onslaught of wind and water more than anywhere else.”

From its Grand Bahama base, Mosaic Modular provides fully-integrated modular system homes that slot together to create a range of resilient structures. These can be used for a variety of purposes - ranging from an emergency shelter in

hurricane-hit areas to luxury beach houses built near the sea.

Mosaic Modular said its structures have already arrived in Eleuthera and will be erected soon. It added that its design allows for true customisation by both residential clients and those interested in smaller commercial projects, distinguishing it from rivals.

Using environmentally friendly pre-fabrication, Mosaic Modular said it also cuts down on expensive transport costs that would normally be passed on to the homeowner.

“What we deliver is a market-friendly, fully customisable modular space that is not only beautiful and modern but can be fully completed in half the time of a traditional construction project,” said Mr Rice.

“Within time, we hope to be able to manufacture sustainable Mosaic structures for the Caribbean and

North America, all from right here in Freeport.”

Mosaic Modular said its ultimate goal is to create communities that are safe and able to withstand natural disasters, especially the flooding that made Dorian so destructive. The exterior of every home it supplies is built around an aluminum superstructure that is designed to withstand hurricanes that have increased in intensity over the years.

“Our mission is a simple one,” said Mr Rice. “To nurture a sense of community, while also doing our part to reduce the impact that traditional construction projects can have on the environment.

“Our home will be moved shortly to a more accessible residential area. But you only have to check on our website and you can take a virtual tour, and see how our modular are modern, beautiful and, most importantly, safe.”

Airbnb teams with Ministry to drive vacation demand AIRBNB yesterday said it has formed a strategic alliance with the Ministry of Tourism to further drive vacation rental demand that, based on booking data, is “beginning to bounce back” in COVID-19’s wake.

Since the pandemic

began, Airbnb said the percentage of bookings for destinations within 200 miles - a round-trip travelers can generally complete on one tank of gas - has grown from one-third in February to more than half in May. This is likely to

encourage The Bahamas, which will hope to exploit its proximity to the US. Tapping into this demand for excursions in close proximity to home, Airbnb said it has updated its app and homepage to make it easier for travelers to book local trips, including last-minute getaways. The platform updates include features highlighting domestic vacation ideas and nearby getaways.

Airbnb added that it will also launch Travel Close, a summer digital campaign to promote both nearby excursions and Airbnb’s recently-launched Online Experiences. It said its US bookings are also recovering at an accelerated rate. From May 17 to June 6, there have been more nights booked for travel to Airbnb listings in the US than there were during the same period last year.

And last weekend, covering June 5-7, Airbnb said that for the first time since February it recorded year-over-year growth in gross booking value (not including cancellations or alterations) for all bookings made worldwide.

THE TRIBUNE

Friday, June 12, 2020, PAGE 3

NIB makes $47m in COVID distributions

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE National Insurance Board (NIB) has to-date paid out more than $38m in benefits to unemployed workers impacted

by COVID-19, a Cabinet minister confirmed yesterday.

Brensil Rolle, pictured, minister for the public service with responsibility for NIB, told the House of Assembly: “It is estimated that more than 40,000 workers have either been interrupted, or there has been some suspension of their earnings or from work, in the past three months.

This is due only to COVID. “NIB’s main objective and priority, therefore, for the last seven weeks is to make sure claims from these persons that were unemployed - and are still unemployed - are processed in the fastest and quickest possible way. We started the process by simply taking the carefully-considered position that we have to do something to help those persons who have been impacted by COVID.” Mr Rolle explained: We determined that our first step would be that we would pay pensions a little bit earlier than the prescribed date. So in the last three months, we have made available to Bahamians their pensions at an earlier date, and therefore NIB has put out approximately $67m in early pension payments so that individual families could carry on their way of life.

“On our computer system at NIB, and I’m talking basically about the D3 claims, 9,000 persons were paid and approved. We disbursed

20,000 different disbursements to individuals and the pay-out was $11m. That was through the regular computer system at NIB,” he added, referring to benefits paid to self-employed persons in tourism and other sectors.

Mr Rolle said unemployed workers would have experienced significant delays in receiving their benefits had these been paid out through NIB’s system.

As a result, NIB “expedited” the process by allowing employers to act as its agent and make these payments on its behalf, for which they will be reimbursed at a later date.

The minister said some 24,917 applications were approved through this process, resulting in 38,100 total disbursements and a total payout of $38.1m between March 28 to June 9.

As for self-employed persons, Mr Rolle said: “Every single person who identified themselves as self-employed had an ability to go to NIB to claim assistance offered by this government. These individuals, some 6,763 of them, took up the challenge.

“They went to NIB and they applied and they were approved. We made 24,059 disbursements to them, and we paid them out of the government’s money, some $9.085m.” These were persons who do not contribute, and who cannot normally qualify, for NIB. Mr Rolle said “close to 1,500 claims” from Abaco an Grand Bahama were processed as a result of Hurricane Dorian, and hit out at employers who were delinquent in their NIB payments yet have deducted

contributions from their employees’ salaries.

“Imagine the Bahamian public that has made their commitment to their employer, only to find that the money did not get to NIB. This is so unfair.

COVID-19 has exposed a lot of individuals who fall in this category, because there was no way that some persons did not have an opportunity to check their positions,” Mr Rolle said.

“We made the commitment that we have to go after those employers who cheated their staff. The director of NIB has already taken the position that investments will be made in compliance, and we will go after these companies and expose them and, in addition to that, we have also taken the position that we must adjust and we must do things differently. We have leaned some valuable lessons and these lessons are critical.

“One of the lessons we have learned is that we must move away from the manual intake of claims from mailboxes and drop boxes. We must elevate our game and take advantage of technology, so that we can indeed do business in this new Bahamas as we transition to improve the quality of life for every single Bahamian, and as we promote the ease of doing business.”

Mr Rolle continued: “NIB has launched a portal for tracking unemployment claims. Employees will be able to register at this portal and carry out the following things. They will be able to submit their claims, review the status of their claims and locate their claims payments.”

Calling this portal an “extraordinary” achievement, he added that employees will be able to track their contributions and check if their employer is paying them to NIB.

Use COVID-19 to kickstart domestic tourism’s revival

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Chamber of Commerce’s chief executive yesterday urged The Bahamas to exploit the COVID-19 crisis to kickstart domestic tourism after managing to successfully contain the virus to-date.

Jeffrey Beckles said that while “the restarting of our tourism sector is critical”, the country “must not lose sight of the fact that we are still in the middle of a pandemic” with all the risks of a second infection wave that brings.

Describing the planned July 1 tourism reawakening as “a great sign”, he added that The Bahamas’ ability “to manage our COVID-19 strategy to this level has put us in the best position to consider reopening”.

However, Mr Beckles said that with many countries - including the US - still fighting to contain the virus and bring it under control, vacations abroad still appear less attractive for Bahamians. As a result, he argued that this nation will never have a better chance to revive domestic tourism to the Family Islands.

He said “We have an opportunity to fill a huge

demand for people that are looking for a place to go, which is fantastic. One of the things that’s going to come out of this is our ability to undergird our domestic tourism.

“For a long time we have been wanting to see what we can do to support our domestic tourism, and this is a great platform to do it.

We are hoping that all of the stakeholders throughout the islands, Nassau included, will be able to seize the opportunity to rethink and revamp where we need to because, just as demand is growing in foreign jurisdictions to travel to The Bahamas, Bahamians need somewhere to go.

“We have been pent-up in our lockdowns for almost three months now, and Bahamians want to go to Eleuthera. They want to go to Exuma, they want to go to Cat Island and all over.

These are great opportunities for us now to not just focus on the foreign tourism, which is important for our foreign reservee build up, but we now have the opportunity to maximise our capacity in domestic tourism and really do some diversification,” Mr Beckles added.

“It also spells a good thing, because all of the

JEFFREY BECKLES support services needed to support tourists, hotels and restaurants, and other support services in food and services, we now give them an opportunity to actively get involved again, which means that they are going to be putting people back to work.”

Calling on The Bahamas to build upon its COVID19 containment efforts, Mr Beckles said: “As the world relaxes its travel restrictions, The Bahamas should be the number one destination people would want to go to because it is a clean destination; clean in terms of COVID-19. It is a destination living up to the reputation of being a friendly people.

“We can’t afford to let our guard down. Let’s work on ensuring that the people that come here over the next few weeks and months have a fantastic experience, and make sure we do our part to maintain our representation of The Bahamas being an extraordinary place to go.”

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PAGE 4, Friday, June 12, 2020

THE TRIBUNE

COVID-19 rise ‘inevitable’ with tourism’s reopening

‘Tremendous uptick’ in cyber breaches

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A CYBER security specialist yesterday said urged companies to identify gaps in their information technology (IT) defence after seeing a “tremendous uptick” in attacks on Bahamian networks.

Philip Darville, SolveIT Bahamas’ managing director, told Tribune Business: “For the last few years there has been a tremendous uptick in not only the frequency, but the severity, of cyber crime and cyber security-related issues. It is something we have been trying to push and promote more to not only our clients, but this is happening more at a government level.

“Both private sector and public sector are fully exposed. If you have heard about all of the things like the Panama Leaks and other announcements that have been coming out, you would find that a lot of the information that has been stored in government has been leaked or compromised. There was just an article I read this year where the Registrar General’s office would have been compromised.”

Earlier this month, the Attorney General’s Office confirmed that the digital database at the Registrar General’s department had been hacked in January. Its contents have been published online, mirroring a similar incident several

years ago, but on both occasions only information that is publicly available was disclosed.

Mr Darville, though, added: “There are a tremendous amount of gaps that exist in the way agencies and the private sector approach cyber security, and it is more like a sleeping giant waiting to happen. There are a couple of different layers to the gaps that exist in cyber security.

“First, it starts with recognising there is a level of exposure, and that is accomplished through an identification of what’s happening in your business and having an assessment or audit on what level of information can be compromised.”

He continued: “Second, we can look at the human element. You can make all of the effort in your business, but if your resources, talent and employees are not fully adept at what needs to be done, or how they can mitigate those risks to your business, then they are exposing your company.

“Standard training exercises that should happen in your business; regular inspections from external companies; investment in technology mitigate these point-to-point risks. A lot of the larger companies, especially, are using more remote work staff, so people are using laptops to work and working remotely from home, especially during this time.

“You have to make

sure that these are indeed secure environments. So you have to mitigate the risk of people compromising this. Somebody may go ahead and use a public computer, as an example, to connect to your corporate network, not knowing that that public computer is exposed or has some level of malicious coding or content on it.

“There are numerous risks involved in the whole process, but we have to look at it as the key layer of business contingency planning.

It has to start with not only looking at things like hurricanes and pandemics, but security in data is number one. Once you leave that security of data, then your brand has a reputational compromise.”

Warning people about “phishing scams”, Mr Darville said: “You get these e-mails that look legitimate from agencies like FedEx or DHL, or you may see e-mails from local companies like Cable Bahamas.

That’s how the levels of these things work. You may get an email that says PayPal, and the logo says PayPal, but you already know that you don’t use PayPal, so it doesn’t apply.

“So what hackers are now doing is localising their phishing scams within the demographic. So if you get an e-mail from Cable Bahamas, one out of every three people may have services from Cable Bahamas or REV TV and they click on the link and go to a website,

and the website mimics exactly what Cable Bahamas looks like, so that’s the extent to which these hackers go through to compromise your company.”

Explaining the consequences of so-called phishing scams, Mr Darville said: “On a personal level it turns into all of your personal accounts being compromised, all of your e-mails being compromised, all of your banking information is set to your accounts, so they are able to reset all of your passwords. So it is an entire network.

“But on the public sector level and on the enterprise level, the risks are extremely high and it is something I am hoping to press with the relevant agencies to really grab the bull by the horns with this.”

Mr Darville also warned that hackers do not always need their victim to click a link or open up a suspicious e-mail. He said: “Risks can also come through your corporate network, especially if it is a multi-national company that has a connection between the US and The Bahamas.

“All of that level of exposure can happen at a network level, so it doesn’t necessarily mean that you have to click on something to get hacked or to be exposed. You have servers and routers that are connected to a wide network that are also susceptible.

“You just don’t need to have somebody click on a link to become exposed.

FROM PAGE ONE You can become exposed through receiving a malicious PDF file or through an XLS file, and they can also mimic e-mail addresses of persons that work for your company and send you important company files on XLS. You don’t think anything about it and you click it, and you won’t even know when it happens,” Mr Darville continued.

“For example, every device, once it connects to a network, it is issued an IP address that is equivalent to a post office box. One day you can go to your PO Box and realise that somebody tore it open by just manually ripping the door off of the box. It’s the same thing as a network; a network is sitting in this entire universe of systems, and it is just sitting there and communicating information back and forth.

“So what happens is hackers search out these networks, and they are able to find what companies are exposed. These may be companies that may not have invested in IT maintenance. They are running either servers or routers that are older versions of operating systems, or firmware on the hardware, so there is a wide spectrum, but at the end of the day it starts and ends with understanding how exposed are you as a business through either the hardware that you have or the software that you have, and whether your human resource element is adequately trained.”

and Tourism Association (BHTA) that requiring a PCA molecular swab COVID-19 test was a non-starter,” Mr D’Aguilar told Tribune Business.

“First of all, the airline industry was not prepared to check it, and industry felt this would be a very difficult impediment to overcome in one’s attempt to attract persons to this destination.”

Dr Sands, in his contribution to the 2020-2021 budget debate in the House of Assembly, said he did not support opening The Bahamas’ borders to persons who had not been tested for COVID-19 - especially those coming from countries and areas that are currently suffering a surge in infections.

The US, which now has more than 2m confirmed COVID-19 cases, and accounts for 82 percent of all visitors who come to The Bahamas, is one such nation where infections appear to be spiking across a number of states. Dr Sands, while acknowledging the need to restart the Bahamian economy, argued that this nation should not endanger the gains created by its containment of COVID-19 to 103 confirmed cases to-date.

Agreeing with his former Cabinet colleague that the latest COVID-19 developments in the US were “disconcerting”, Mr D’Aguilar conceded that The Bahamas faces a major dilemma and “balancing act” between the economic devastation caused by not reopening a travel-dependent economy and the health risks associated with admitting potential virus carriers.

Warning that the tourism re-opening will almost certainly trigger an increase in positive COVID-19 cases, the minister told this newspaper: “This is a conundrum for The Bahamas. On the one side we need to restore our economy, and an integral component of this economy is tourism.

“But, inevitably, with the arrival of more persons on the island, there will undoubtedly be an uptick in the number of positive COVID-19 cases..... This is the conundrum. It’s not easy.

We could sit back and say we will not let anybody in, but The Bahamas would suffer an unprecedented period of economic malaise. It’s a balancing act.”

Referring to Dr Sands’ warning, Mr D’Aguilar added: “He’s right. It’s disconcerting what’s happening in our core market, the US. It’s a very difficult situation to be in.” He said the “ideal” would be for a rapid COVID19 test to be administered to tourists before their arrival in The Bahamas, but such a device is simply not available yet.

Confirming that all tourists, Bahamians and non-Bahamians will still be required to undertake a COVID-19 PCR molecular swab before entering The Bahamas prior to July 1, Mr D’Aguilar said the borders will still re-open to private aviation, boats and yachts from June 15 as these niches can both be closely monitored and register their arrivals in advance electronically.

The minister’s comments mirror those he gave during the tourism industry’s reopening announcement on June 2, where he disclosed that requiring a COVID19 PCR test will “no longer be viable” given the time required for the findings to come back. Temperature screening of persons on arrival at air and sea ports, and their completion of health questionnaires so the individual risk they pose can be better assessed, will be the preferred methods.

“In terms of testing as we know it, that will no longer be reasonable,” Mr D’Aguilar added then. “We just have to implement and comply with the practices of social distancing, mask wearing, and that will help us to mitigate the risk, not eliminate it.”

However, Dr Hubert Minnis, in his pre-Labour Day press conference, said no decision had been made on what form of COVID19 screening/testing would be required following the tourism industry’s July 1 reopening, stopping short of what was announced by Mr D’Aguilar.

THE TRIBUNE

Friday, June 12, 2020, PAGE 5

Bahamas ‘biggest’ employment claim rejected on appeal FROM PAGE ONE FG Insurance Agents and Brokers was established to facilitate Family Guardian’s entry into the property and casualty (general) insurance market, but the BISX-listed underwriter ultimately decided not to pursue placing all its agents and agency managers under this entity.

However, it still decided to convert those employees into financial services representatives. Mrs McIntosh was presented with the new employment terms, and changed commission structure, on July 8, 2011, but she steadfastly refused to execute it to the exasperation of Family Guardian and the vice-president of its financial services division, Michael Adderley, given that all other agents had signed up.

He warned her via a September 5, 2011, e-mail that she was placing Family Guardian “in a precarious position” as the company could not afford to have an agent “continue to operate in this manner”. Three weeks later, Mr Adderley issued Mrs McIntosh with a termination letter on the basis that she had ceased acting as a Family Guardian agent - something that was mandated by her agency managers’ agreement.

Mrs McIntosh, in the immediate aftermath of her dismissal, gave her “sincere thanks” to Family Guardian for being allowed to work for the company for 26 years. Yet five years later she turned around and, on June 6, 2016, initiated legal action against the insurer for alleged breach of contract and wrongful dismissal.

Insurer: Dorian causes largest vehicle losses FROM PAGE ONE

“We continued to see vehicle and premium growth in both Cayman and The Bahamas, with gross premiums reaching just shy of $40m in 2019. Apart from hurricane related claims, there were no significant claims activity or concerns within the motor and liability portfolio.”

Bahamas First added that Hurricane Dorian also produced its largest-ever marine loss. “The marine portfolio recorded its largest ever hurricane loss, with 91 individual claims amounting to a gross loss of $5m. This gross loss was reduced considerably by reinsurance recoveries, and we anticipate rate and performance improvements in the not too distant future,” it said.

Dorian reconstruction in Abaco and Grand Bahama is anticipated “to generate a significant amount of growth” in Bahamas First’s engineering (performance bond) segment, the company adding: “We have both the capacity and the underwriting experience to deal with this eventuality.”

Turning to its most heavily-impacted insurance niche, property, the underwriter said it faced the challenge of aligning premium rates with reinsurers’ expectations as a result of the sector’s $1.5bn$2bn total payouts due to Hurricane Dorian.

“The occurrence of Hurricane Dorian renewed the focus and effort around rate adequacy for property business, not only in The

Bahamas, but elsewhere in the region,” Bahamas First said.

“In order to secure the long-term reinsurance capacity, which is vital to our continued participation in this segment of our business, we have taken steps to ensure that our targeted rates in both jurisdictions are aligned with reinsurers’ expectations and our true net costs associated with this line of business.

“Our risk selection process, and general underwriting approach, have also been extensively reviewed to take into account the lessons learned from Dorian.

There will be the inevitable loss of business in both Grand Bahama and Abaco, where properties have been completely destroyed or rendered uninsurable, which will take some time to come back to the market,” the insurer added.

“The situation is more acute in Abaco, and the extent to which the COVID19 pandemic will exacerbate the situation cannot be fully known at this stage. On the brighter side, we are confident that we will be able to maintain our market share in The Bahamas and protect those parts of the property portfolio, within the Cayman market, where pricing adequately reflects the exposure.

“Despite the disruption in business activities in The Bahamas, the group’s property premiums, on a gross basis, were relatively flat at $69m in 2019 compared to the prior year.”

To advertise in The Tribune, contact 502-2394 PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, MARVIN SELENTO RHODRIQUEZ of Carmichael Road, P.O. Box N-33056, intend to change my name to MARVIN SALENTO RHODRIQUEZ. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O. Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

NOTICE NOTICE is hereby given that JUNIOR PIERCILUS, of #111 Farham Cresent, Freeport, Grand Bahama 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 12th day of June, 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Justice Ian Winder, though, rejected her claim for $1.346m in “special damages” representing the loss of salary and commissions over an 18-month period at the rate of $546,431 per annum, plus the loss of insurance coverage, vacation pay and “vested” pension earnings.

Noting the basis of her appeal against that ruling, Appeal justice Crane-Scott wrote: “It is obvious that underlying all three grounds is Mrs McIntosh’s opinion that she was entitled to refuse to sign the updated agents’ agreement which was presented for her signature because, having regard to its express terms, it represented an attempt by Family Guardian to unilaterally change her legal status from that of employee to that of an independent contractor.

“And, further, that by

issuing the termination letter without giving notice, Family Guardian breached her agency manager’s agreement and wrongfully dismissed her.” The Court of Appeal, though, said Mrs McIntosh’s appeal seemed to be “somewhat illogical” as her contention that she was an independent contractor - as opposed to an employee - undermined the foundations of her breach of contract/wrongful dismissal claim.

“It was therefore not easy to follow why Mrs McIntosh would seek to complain that the learned judge’s finding that she was an employee and not an independent contractor was an error of law,” the Court of Appeal concluded, branding the submissions by her attorney, Trades Union Congress (TUC) president, Obie Ferguson, as “untenable”.

It added that Mr Ferguson’s submissions strayed beyond the case Mrs McIntosh pleaded in the Supreme Court, and she was now prevented from presenting new arguments before the Court of Appeal as they had never been raised in the lower court.

“Having regard to the parties’ pleadings and the evidence before him, we are satisfied that [Justice Winder] was clearly correct to find that Family Guardian’s insistence on Mrs McIntosh executing the updated agreement was not unreasonable, and that it was unreasonable for Mrs McIntosh to ‘hold out’ on signing the updated agent’s agreement when all of Family Guardian’s other agents had signed it,” the Court of Appeal found.

“As we see it, Mrs McIntosh’s refusal to ‘fall in line’

with the updated agreement was unreasonable as it would have resulted in her being accorded different treatment from the other agents. In short, the learned judge was entitled to find that Mrs McIntosh’s failure to sign the amended agency agreement constituted a repudiation of her employment contract which it could properly act upon.”

Mr Ferguson also unsuccessfully sought to introduce a letter from Colina Insurance Company, Mrs McIntosh’s current employer and Family Guardian’s main rival, in a bid to show she had suffered losses as a result of her termination.

This, too, was rejected by the Court of Appeal, which noted that she had failed to provide the Supreme Court with proof of her reduced earnings.

Sandals’ November reopen to have ‘devastating effect’

me wanting to find out what the deal is,” he added.

“The concern that they have expressed to me, at least the ones that have called me, is that they have a fear as to how to deal with the uncertainty; whether or not the guests they’re dealing with have the virus.

How do you deal with it, not knowing if they have it or not. That seems to be the big concern.

“My reaction to them is that the labour movement, the entire labour movement, will work assiduously to ensure some sort of national training programme is put in place.”

Mr Ferguson also reiterated his long-standing call for The Bahamas to mandate that all employers, workers and the government contribute to the creation of an emergency fund that would ensure future COVID-19 type events will not “be so severe and damaging to the economy”.

“The government’s revenues can only do so much,” the TUC chief added. “We need to anticipate and make provisions for this kind of situation. I am suggesting we introduce a national emergency fund or redundancy fund so that when this

happens again we will be in a better position to deal with it. It’s very damaging and very distressing.

“We need to plan and don’t put everything into tourism. We need to diversify our economy to do that, and look at other areas to stimulate to help government and respond ourselves.

We all have a role to play.”

Sandals Royal Bahamian’s November 1 re-opening date shows that the tourism restart will not be as simple as merely flicking a switch.

Not all resorts will open immediately, and many will do so in phases, only recalling a percentage of staff at a time.

The British Colonial Hilton’s decision to permanently axe 15 percent of its staff also shows that resorts may elect to do more with less, and cut costs and workforce numbers in line with the new operating and financial realities they face.

There may even be properties themselves that elect not to re-ope.

Dionisio D’Aguilar, minister of tourism and aviation, last night agreed that Sandals Royal Bahamian’s November 1 date was “very concerning”, but suggested it had been chosen based on

the demand the resort chain is seeing and whether this will be sufficient to cover its costs and get to a “break even” position during the traditionally slower summer months.

Sandals may also use this time to ready the property and train staff in the new COVID-19 protocols, and Mr D’Aguilar said: “Obviously they’ve got their ear to the ground and they’re going to make that decision based on the level of demand.

“Sandals has a very robust reservations system and marketing programme so they can ascertain what their level of demand is at the push of a button. If they see the level of demand makes it not worthwhile to re-open, they’re going to delay. Every business is going to assess whether they need to reopen at this level of demand, and everyone agrees that the level of demand is not what it was.

“The last pandemic was 100 years ago. There’s no real game plan here. We have to see how it goes and use market intelligence and advanced booking systems to determine if we have a sufficient level of demand to operate.”

FROM PAGE ONE The depth and length of the economic fall-out produced by the COVID-19 pandemic is threatening to leave many families and businesses, as well as the wider economy, deeply scarred. “This is really nothing anyone expected, but if there is a time for all Bahamians to work together in the interests of us all it’s now,” Mr Ferguson added.

“It’s really having a serious effect on a number of people. A lady called me and suggested they have to do what they have to do. I don’t want to say what it is they have to do; what they have to do to feed their family. It’s not something I would suggest but that shows how dire the situation is.”

The TUC chief said Sandals staff were also concerned about how to deal with guests, and uncertainties over whether they may be carrying the COVID-19 virus. “How they handle that situation is important to those who have contacted

MARKET REPORT www.bisxbahamas.com

(242) 323-2330

THURSDAY, 11 JUNE 2020

(242) 323-2320

ALL SHARE INDEX: CLOSE: 2,136.38 | CHG: -0.56 | %CHG: -0.03 | YTD: -95.22 | YTD%: -4.27 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.75 2.58 2.00 5.47 12.77 6.16 4.50 10.30 3.64 5.10 10.88 8.15 16.99 9.40 4.25 15.21

52WK LOW 3.35 20.91 5.50 5.39 1.78 0.67 2.00 10.21 5.60 3.62 5.41 2.53 1.85 8.00 7.01 13.04 6.98 3.20 13.90

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

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

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

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

CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

PREFERENCE SHARES

1.00 10.00 1.00

1.00 10.00 0.90

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

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 3.55 17.43 6.00 6.68 1.78 1.62 3.00 11.26 6.10 4.00 6.01 3.15 5.10 9.88 8.00 14.50 8.97 4.00 15.20

CLOSE 3.55 17.43 6.00 6.68 1.78 1.62 3.00 11.26 6.10 4.00 6.01 2.95 5.10 9.42 8.00 14.50 8.97 4.00 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.20 0.00 -0.46 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

1000.00 1000.00 1000.00 1000.00 1.00 10.00 0.90

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

7,580

2,300

VOLUME

170

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

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

P/E 14.9 18.7 N/M 18.1 N/M N/M -6.8 15.6 13.6 21.7 42.9 28.9 10.9 14.6 11.0 17.8 9.6 19.7 24.1

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

YIELD 4.79% 7.23% 0.00% 3.89% 0.00% 1.23% 0.00% 6.39% 3.61% 3.00% 0.00% 14.71% 1.18% 3.48% 3.00% 3.72% 2.23% 3.00% 4.01% 0.00% 0.00% 0.00% 0.00% 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% 1.04% 3.87% 0.61% 2.93% 0.50% 2.50% -1.34% 2.23% -12.71% -5.79% 0.94% 3.72% -3.46% 2.09% -0.11% 3.43% -3.33% 1.53% -0.32% 10.20% -1.58% 15.37% 0.88% 5.22% -4.91% 10.77% 1.89% 6.75% -1.95% 0.38% N/A N/A -10.90% -4.30% -18.80% -12.00%

NAV Date 31-Mar-2020 31-Mar-2020 27-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 31-Mar-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020 29-Feb-2020

MUTUAL FUNDS 52WK HI 2.31 4.40 2.10 198.39 168.29 1.67 1.85 1.76 1.24 8.34 10.26 7.00 12.15 12.58 10.81 10.00 8.98 11.79

52WK LOW 1.67 3.30 1.68 164.74 116.70 1.61 1.75 1.70 1.14 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Preferred Income Fund Leno Growth Fund Leno Diversified Fund Leno 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 2.31 4.39 2.10 192.52 145.55 1.67 1.79 1.75 1.16 8.31 10.07 7.00 11.42 12.58 10.52 N/A 8.31 10.01

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

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 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

31-Mar-2020 31-Mar-2020 31-Mar-2020

THE TRIBUNE

Friday, June 12, 2020, PAGE 7

Oil explorer: Merger ‘assures’ bahamian well will be drilled FROM PAGE ONE will prove no distraction to its Bahamas ambitions.

Arguing that the merger would provide increased strength behind BPC’s Bahamian well plans, with the two companies having a combined £125m market capitalisation on London’s Alternative Investment Market (AIM) prior to the deal’s announcement, Mr Potter said the cash flows from Columbus’ alreadyproducing wells in Trinidad now gave it cash flow/revenue streams to finance its Bahamas activities.

“What we were absolutely clear about when we did this merger was it doesn’t involve cash; it’s an all-share merger,” Mr Potter told Tribune Business. “Once we complete the company will have no debt, and with such an expanded platform it’s essentially a de-risked portfolio even though we have a much broader investment base. That’s the whole ethos of this.

“What it does is is assures the delivery of Perseverance One [the first exploratory well in The Bahamas] rather than threatens it. This creates a balanced company that is absolutely committed to the delivery of The Bahamas well. We’ve been at this for so long there is nothing that will distract us from delivering that exploration project.”

Still, the Columbus merger, following so swiftly behind the winning bid that secured BPC an exploration licence off the coast of Uruguay, is likely to make many Bahamians wonder whether BPC is hedging its bets on its Bahamas ambitions and whether it may depart for pastures new.

Mr Potter, though, sought to also dismiss such notions in BPC’s statement announcing the

merger, where he said: “This enhanced asset base in Trinidad, Suriname and Uruguay is entirely complementary to, and in no way detracts from, our determined focus on our existing exploration base asset in The Bahamas, where we will see the build-up to drilling of the Perseverance No.1 well in late 2020 - early 2021 - targeting P50 prospective oil resources of 0.77bn barrels (with an upside of 1.44bn barrels).

“A rig contract has already been signed for the drilling of this well, long-lead and critical path items have already been purchased, and globally renowned service companies are ready to work with us to ensure the safe and responsible completion of the well.”

The merger, which has to be approved by both companies’ shareholders, has been billed as creating “a Caribbean and Atlantic margin focused oil and gas ‘champion’, with assets that range across the full spectrum of oil and gas activities, from exploration, appraisal and development to production”.

Columbus has five producing fields, two appraisal/ development projects and a prospective exploration portfolio in Trinidad. It announced a discovery in two zones in one of these prospects in late April 2020, including high-quality light oil recovered to the surface. In Suriname, Columbus has an onshore appraisal / development project.

“The combined group will have access to high-impact offshore exploration in The Bahamas with drilling expected to take place within the next nine months; material onshore exploration; appraisal and development projects in Trinidad; a material onshore appraisal

and development project in Suriname; and longerterm exploration prospects of scale in Uruguay,” BPC said in its statement.

“All of this will be underpinned by existing production onshore Trinidad, which BPC believes can be materially increased at low cost by application of BPC’s technical expertise. Moreover, the Boards believe the combined group will have the footprint, technical capabilities and scale to further grow and consolidate and deploy its combined expertise in the Caribbean and, more broadly, in oil and gas projects around the Atlantic margin, and in so doing, attract increased interest from investors/shareholders attracted to the broader, diversified portfolio of assets and risks that the combined group would represent.”

Leo Koot, Columbus executive chairman, added: “Columbus shareholders will gain access to the highimpact Perseverance No.1 exploration well in The Bahamas, which we expect will be drilled in the fourth quarter of 2020 into the first quarter 2021.

“If successful, Perseverance No.1 will transform the company as it has a P50 prospective oil resource of 0.77bn barrels, with an upside of 1.44bn barrels.

It is rare for a relatively small oil and gas company to have access to a prospective resource of this size.

“In return, BPC gains access to our existing production base in Trinidad and our strong appraisal/ development portfolio.

Importantly, BPC brings a strengthened balance sheet to the combined group, and I believe the combined entity will be able to progress faster in unlocking the value of our appraisal and development assets.”

CAN MAKE A DIFFERENCE IN THE LIVES OF THE CHILDREN AT RANFURLY

T

he Ranfurly Homes for Children has been a safe haven for thousands of Bahamian children since 1956. The Home provides a safe, structured environment for children who have been orphaned, abused, neglected or abandoned.

YOU can make a difference in the lives of the children at Ranfurly. With your support children can have nutritious food, warm beds and a safe environment where they can discover the joy of being children. For years the children living and learning at Ranfurly have made great social and academic strides.

Their further development requires additional support in the form of a Transitional Home, planned for construction on the Ranfurly property.

This residence will cater to teenagers and young adults who are beyond school age, but need accommodation while they find work and gain independence from the Home.

We look forward to your continued support in this worthwhile endeavour.

MEMBERSHIP PACKAGES Individuals, Families & Corporate Sponsors Children Helping Children - $5 (Individual children from ages 6 - 18) Individuals Helping Children - $50 (Individual adults 18 years and over) Families Helping Children - $100

CIRCLE of FRIENDS Silver: $1,500 - $2,499 Gold: $2,500 - $4,999 Platinum: $5,000 plus

OPPORTUNITIES • • • •

Invitations to Ranfurly events Assist with fundraising events Involvement with special activities Adults are eligible to join the Board after three months • Stay in touch with Ranfurly through website and newsletters

BENEFITS

• Personal fulfillment in knowing you are impacting lives • Ranfurly children’s appreciation and positive response • Continued support provides stability and constant care

For more information visit: www.ranfurlyhome.org Please “Like” us on Facebook Ranfurly Home for Children, Mackey Street P.O. Box 1413 Nassau, Bahamas 242-393-3115

PAGE 8, Friday, June 12, 2020

THE TRIBUNE

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 90° F/32° C Low: 71° F/22° C

TAMPA

TONIGHT

SATURDAY

SUNDAY

MONDAY

TUESDAY

Sunny intervals, a t‑storm in spots

Becoming cloudy with a shower late

Cloudy with a couple of showers

Cloudy with a shower or t‑storm

Cloudy with a couple of showers

Cloudy with a couple of showers

High: 85°

Low: 77°

High: 85° Low: 77°

High: 85° Low: 75°

High: 86° Low: 76°

High: 86° Low: 77°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

93° F

79° F

93°-82° F

95°-83° F

94°-83° F

95°-84° F

High: 91° F/33° C Low: 76° F/24° C

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

almanac

E

W

ABACO

S

N

High: 82° F/28° C Low: 78° F/26° C

7‑14 knots

S

WEST PALM BEACH High: 87° F/31° C Low: 78° F/26° C

7‑14 knots

FT. LAUDERDALE E

W

FREEPORT

High: 87° F/31° C Low: 76° F/24° C

N

S

E

W

High: 86° F/30° C Low: 76° F/24° C

MIAMI

High: 88° F/31° C Low: 77° F/25° C

6‑12 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 86° F/30° C Low .................................................... 77° F/25° C Normal high ....................................... 87° F/30° C Normal low ........................................ 74° F/23° C Last year’s high ................................. 88° F/31° C Last year’s low ................................... 76° F/24° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ............................................... 20.50” Normal year to date ................................... 10.52”

ELEUTHERA

NASSAU

High: 85° F/29° C Low: 77° F/25° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 83° F/28° C Low: 78° F/26° C

N

KEY WEST

High: 87° F/31° C Low: 80° F/27° C

High: 83° F/28° C Low: 78° F/26° C

N

S

E

W

6‑12 knots

S

7‑14 knots

ANDROS

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

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

tiDes For nassau Low

Ht.(ft.)

Today

1:28 a.m.

2:07 p.m.

High

Ht.(ft.)

2.6 2.2

8:02 a.m.

8:10 p.m.

0.3 0.7

Saturday

2:20 a.m.

3:02 p.m.

2.5 2.3

8:51 a.m.

9:09 p.m.

0.4 0.8

Sunday

3:11 a.m.

3:55 p.m.

2.3 2.3

9:38 a.m. 0.4 10:07 p.m. 0.8

Monday

4:03 a.m.

4:45 p.m.

2.3 2.5

10:24 a.m. 0.4 11:02 p.m. 0.7

Tuesday

4:52 a.m.

5:31 p.m.

2.2 2.6

11:07 a.m. 0.3 11:53 p.m. 0.6

Wednesday 5:39 a.m.

6:14 p.m.

2.2 2.7

11:50 a.m. 0.2 ‑‑‑‑‑ ‑‑‑‑‑

Thursday

2.2 2.9

12:40 a.m. 0.4 12:31 p.m. 0.1

6:24 a.m.

6:56 p.m.

sun anD moon Sunrise Sunset

6:20 a.m.

8:00 p.m.

Moonrise Moonset

1:04 a.m.

12:40 p.m.

Last

New

First

Full

Jun. 13

Jun. 21

Jun. 28

Jul. 5

CAT ISLAND

E

W

uV inDex toDay

SAN SALVADOR

GREAT EXUMA

High: 84° F/29° C Low: 79° F/26° C

High: 85° F/29° C Low: 79° F/26° C

N

High: 85° F/29° C Low: 79° F/26° C

E

W S

LONG ISLAND

tracking map

High: 85° F/29° C Low: 80° F/27° C

H

MAYAGUANA High: 85° F/29° C Low: 79° F/26° C

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

L

8‑16 knots

CROOKED ISLAND / ACKLINS

tonight’s lows.

RAGGED ISLAND High: 84° F/29° C Low: 80° F/27° C

High: 84° F/29° C Low: 79° F/26° C

GREAT INAGUA High: 86° F/30° C Low: 79° F/26° C

N W

N E

W

E S

S

7‑14 knots

4‑8 knots

marine Forecast ABACO ANDROS CAT ISLAND

L

CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS E at 7‑14 Knots E at 7‑14 Knots NE at 6‑12 Knots ESE at 6‑12 Knots E at 8‑16 Knots E at 6‑12 Knots ENE at 7‑14 Knots SE at 4‑8 Knots E at 7‑14 Knots E at 7‑14 Knots E at 7‑14 Knots E at 6‑12 Knots E at 7‑14 Knots E at 6‑12 Knots NE at 4‑8 Knots E at 4‑8 Knots E at 7‑14 Knots ESE at 4‑8 Knots ENE at 8‑16 Knots SE at 6‑12 Knots E at 7‑14 Knots ESE at 6‑12 Knots NE at 7‑14 Knots ESE at 4‑8 Knots E at 8‑16 Knots E at 6‑12 Knots

WAVES 3‑6 Feet 3‑5 Feet 1‑2 Feet 1‑2 Feet 3‑5 Feet 2‑4 Feet 2‑4 Feet 1‑3 Feet 3‑6 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 2‑4 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 3‑6 Feet 3‑5 Feet 1‑3 Feet 1‑3 Feet 1‑2 Feet 1‑2 Feet 2‑4 Feet 1‑3 Feet

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502-2394

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 81° F 81° F 85° F 85° F 82° F 82° F 83° F 84° F 82° F 82° F 84° F 84° F 83° F 83° F 84° F 84° F 83° F 83° F 83° F 83° F 83° F 83° F 83° F 84° F 82° F 82° F