Skip to main content

07062021 BUSINESS

Page 1

business@tribunemedia.net

TUESDAY, JULY 6, 2021

$5.00 Baha Mar owner: We’re being pitted against AG By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHA Mar’s current owner is voicing increasing concern that it will be sucked into a legal battle with the Attorney General’s Office after failing to obtain an injunction to block Sarkis Izmirlian’s document demands. Legal papers obtained by Tribune Business reveal that Chow Tai Fook Enterprises (CTFE) and its affiliates have failed to persuade the Delaware Chancery Court to bar Baha Mar’s original owner from issuing a request for judicial assistance to The Bahamas and its Supreme Court. Attorneys for the Hong Kong-based conglomerate revealed in a July 2, 2021, letter that Chancellor

BAHA MAR Kathaleen McCormick refused to issue a temporary restraining order (TRO) against Mr Izmirlian and his Baha Mar Properties vehicle on the basis that it had “not made a sufficient showing that it... faced injury” as a result of further discovery demands. As a result, Mr Izmirlian is presently free to seek further documents from CTFE’s Bahamian affiliate, Perfect Luck Assets, via the New York State Supreme Court to bolster his $2.25bn

SEE PAGE 4

‘Can’t rest on laurels’ over 47% FDI rise

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas “cannot rest on its laurels” despite leading all small island developing states (SIDS) in the amount of foreign direct investment attracted in 2020, a governance reformer warned yesterday. Matt Aubry, the Organisation for Responsible Governance’s (ORG) executive director, told Tribune Business that The Bahamas needs to adopt a more strategic, targeted approach to attracting sustainable foreign direct investment (FDI) despite receiving almost $900m in such inflows amid the

MATT AUBRY COVID-19 pandemic. The just-released World Investment Report 2021, produced by United Nations (UN) agency, UNCTAD, revealed that The Bahamas attracted more than double the amount of FDI received by another so-called SIDS states during 2020.

SEE PAGE 6

LNG supplier funded hotel power move By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BIMINI resort developer has revealed that its entrance into private power generation was largely financed by its liquefied natural gas (LNG) fuel supplier, New Fortress Energy. RAV Bahamas, owned by Gerardo Capo and Genting’s Resorts World Bimini partner, disclosed in its responses to the Utilities Regulation and Competition Authority’s (URCA)

consultation on the tariff review for public electricity suppliers that its power plant investment has been financed by “a non-traditional technique”. “RAV commented that the company has financed the acquisition of its generating assets using a non-traditional technique,” URCA said in its statement of results. “The capital cost of the units is being financed by RAV’s fuel supplier and the cost is being recovered

SEE PAGE 4

$5.07

$5.09

$5.01

‘Frustration at a peak’ on $90m project delay By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A

N Elbow Cay developer yesterday revealed “frustration has reached a peak” over obstacles impeding a $90m project that could help “supercharge” Abaco’s post-Dorian economic revival. Matt Winslow, a second home resident on the Cay, told Tribune Business he has been unable to obtain government assistance to clear the former Elbow Cay Club property that he acquired and obtained all necessary approvals to redevelop prior to the category five storm’s strike in September 2019. Having allowed fellow Elbow Cay and Hope Town residents to use the 19-acre parcel as a temporary site for dumping Dorian-related debris, he disclosed that nine to ten months’ worth of pleas to the Disaster Reconstruction Authority (DRA) to remove this waste via barge has yet to produce any action (see other article on Page 1B). And, besides two massive

• Will ‘supercharge’ Elbow Cay with hundreds of jobs • But months of pleas fail to remove Dorian’s debris • Govt blames shanty town bar for no ‘squatter’ help A VIEW of Elbow Cay with debris.

debris piles that are several storeys high, Mr Winslow said he now faces the additional challenge posed by an estimated 100-200 “squatters” who are living in old, abandoned structures and tents on the former Elbow Cay Club site. Describing the situation as fraught with health and safety hazards for those persons, he explained that after giving them numerous warnings to leave he has now assembled a demolition team to take down these old structures and clear the site.

However, Mr Winslow explained that the government authorities - including the Royal Bahamas Police Force and Immigration Department - have declined to help ensure the existing residents leave in a safe and orderly manner on the basis that the recent Supreme Court ruling and injunction forbidding the demolition of so-called “shanty towns” prohibits their involvement in any form. Emphasising that he has “nothing but compassion and empathy” for those

persons occupying his land, the developer and second home owner revealed he is now seeking to hire a private security firm and will consult with attorneys to determine whether demolition activities can proceed on July 15. “Frustration has reached a peak,” Mr Winslow told Tribune Business. “We’re a family that is focused on preserving the community, and we’ve been patient, but at some point we need help from the government to help get this land clear. “My project is less important than rebuilding the community, but it will create jobs, supercharge the economy, and infuse millions of dollars into Abaco... It’s going to be a boutique, independent luxury resort and resort community with approximately 40 hotel keys and 25 residences. “Before Dorian we were working very

SEE PAGE 5

Cays ‘feel neglected’ over Dorian recovery By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net RESIDENTS on Abaco’s multiple cays “feel neglected” by Hurricane Dorian relief efforts, an Elbow Cay developer charged yesterday, amid perceptions that wealthier residents will “pay for everything”. Matt Winslow, who is leading the $90m effort to redevelop the former Elbow Cay Club (see other article on Page 1B), told Tribune Business that Hope Town and the rest of the island “didn’t get the support the community needed after Dorian” with the government perceived as focusing its efforts on mainland Abaco and

• Islands ‘didn’t get the support the community needed’ • Perception wealthy home owners ‘pay for everything’ • Developer waiting nine-ten months for promised aid Grand Bahama. Disclosing that he now needs the government’s help to remove both Dorian debris and “squatters” from the Elbow Cay Club property, so that it can help drive the island’s economic revival post-storm and COVID-19 pandemic, Mr Winslow said his pleas for assistance have thus far produced little to no action. Having allowed fellow Elbow Cay residents to use the 19-acre property as an alternative location for depositing Dorian-related debris, while two other sites

were cleared, he disclosed to this newspaper that this was only done “with the understanding and agreement that the Disaster Reconstruction Authority would barge it off the island”. “They have yet to fulfill their promise to me,” Mr Winslow added, revealing that two massive debris piles “a couple of storeys high” remain on his property some nine to ten months later. “They have been sitting there for some nine to ten months with the promise that they will assist in helping to remove them

so I can start my project,” he told this newspaper. “At that same time I had conversations with the Disaster Reconstruction Authority and I told them in no uncertain terms that I thought we didn’t get the support - and I can only speak for Elbow Cay - but we didn’t get the support the community needed after Dorian. “It’s all private dollars that built up the island, restored the docks and primary school, and we would

SEE PAGE 5


PAGE 2, Tuesday, July 6, 2021

STATISTICS INSTITUTE GETS ITS FIRST BOARD

THE government yesterday confirmed the first members of the Bahamas National Statistical Board as efforts to ramp-up the transformation of the national statistical system begin. With the passage of the Statistics Act 202, the Bahamas National Statistical Institute (BNSI) has replaced the Department of Statistics with effect from July 1, 2021, to coincide with the new fiscal year. It now has the statutory mandate for the collection, analysis and dissemination of statistics, including the national census. The Act also brings the Institute’s management and affairs under the purview of the

GABRIELLA FRASER recently-named board. “During this year’s national budget exercise, we passed a revolutionary suite of new legislation that will transform the way this and future administrations manage public finances. This included the Statistics

Act, which will pave the way for more evidence-based policy-making processes and decisions in the future,” said Kwasi Thompson, minister of state for finance. “We must improve public financial management by ensuring our policies are backed by accurate and upto-date data.” The board’s chair, Gabriella Fraser, is an economist by training and has experience in socioeconomic analysis, policy and planning. She has also built a career in institutional strengthening and organisational capacity development, including corporate communications. “This is certainly an

important initiative that will contribute critically to our national development,” said Ms Fraser. “Credibility, integrity and impartiality are essential standards for the official data of a country, and ensuring a properly resourced system that drives and supports the production and dissemination of statistics that meet these standards is necessary for effective policy and decision-making.” The newly-appointed Board began its two-year term on July 1, and it can serve for an additional term of two years. The board is responsible for protecting the credibility, integrity and impartiality of official

statistics; preserving the institute’s independence; and developing policies for how the Institute will carry out its mandate. Board members include: • Chairperson - Gabriella Fraser, founding principal and managing director of The Vivian Group • Deputy chairperson - Zhivargo Laing, executive director and senior policy fellow of the government and Public Policy Institute at University of The Bahamas • Board Member - Dr Anthony Hamilton, president of Civil Society Bahamas • Board member - John A Rolle, governor of

BTVI’S ALABAMA DEAL IN FURTHER EDUCATION BOOST The Bahamas Technical and Vocational Institute (BTVI) has signed a Memorandum of Understanding with the University of North Alabama (UNA) to assist Bahamians with further education. The agreement will give BTVI graduates conditional guaranteed admission to UNA to earn a bachelor’s or master’s degree. Students will also be able to attend UNA classes online while still enrolled at BTVI, allowing

them to easily and quickly transfer to UNA to complete the remaining degree courses after they finish an associate’s degree programme in The Bahamas. The agreement also provides scholarships to BTVI graduates, including housing. UNA offers bachelor’s and master’s degrees in computer information systems; human resources management; computer science; culinary arts management; fashion merchandising and design; hospitality and

THE BAHAMAS Technical and Vocational Institute (BTVI) and The University of North Alabama meet virtually to sign a Memorandum of Understanding. Photo: University of North Alabama events management; information technology and mass communication in journalism and digital media. Dr Ken Kitts, UNA’s president, said: “This is

a partnership that will provide a variety of opportunities in a number of our exceptional academic programmes that will be beneficial to BTVI students, whether online or

on campus. It is collaborations such as this that allow UNA to truly be a global campus.” Dr Robert W. Robertson, BTVI’s president, said the partnership will give

THE TRIBUNE the Central Bank of The Bahamas • Board Member - Khrystle RutherfordFerguson, chairman of The Bahamas Chamber of Commerce and Employers’ Confederation • Ex-officio member - Elise Delancy, permanent secretary for transformation and digitisation in the Office of The Prime Minister • Ex-officio member - Tami Francis, assistant director analytics, research and actuarial Services, National Insurance Board • Ex-officio member - Marlon Johnson, acting financial secretary in the Ministry of Finance • Ex-officio member - Leona Wilson, acting managing director, Bahamas National Statistical Institute. BTVI’s students more options to study abroad after completing their education in The Bahamas. Jeffrey Lloyd, minister of education, added: “We are at our highest enrollment yet at BTVI, and I congratulate UNA and BTVI on this fine work and that BTVI joins the many other countries represented at UNA.” The agreement is effective immediately, and 25 BTVI students have applied for fall 2021 admission to UNA. BTVI has memoranda of understanding and articulation agreements with colleges in the US, Canada and the UK.

TOP BAHAMIAN AT MERCEDES-BENZ TO DELIVER BTVI GRADUATION SPEECH A SENIOR Bahamian executive with car manufacturer, Mercedes-Benz, will give the 2021 graduation address for the Bahamas Technical and Vocational Institute (BTVI). Lars N Minns, chief human resources officer for Mercedes-Benz North America, who has responsibility for the US and Canada, is a Nassau native and well-known presenter and facilitator. He joined MercedesBenz USA in March 2015, and leads the organisation in designing, implementing and executing human resources strategies that align with the sales, marketing and distribution objectives for vehicle sales in the region. Prior to joining Mercedes-Benz USA, he served as senior manager of talent acquisition for The Home Depot’s At Home Services, which is commonly referred to as the “Do it For Me” business. He led his team in executing talent acquisition strategies for the company’s fastest growing business segment. Mr Minns spent ten years with The Home Depot, and served in roles such as the senior manager of talent management for operations, services, finance and information technology (IT). Prior to that, he held various roles in IT consulting, sales and recruiting during the .com and Y2K eras. Mr Minns is the current chair for the Society

LARS N MINNS HR Management-Atlanta, a member of Leadership Atlanta’s Class of 2021 and board of trustee member for Mount Vernon Presbyterian School. He earned a Bachelor’s degree in business management from Hampton University in Hampton, Virginia. Dr Robert W Robertson, BTVI’s president, said: “With commencement being the culmination of hard work and perseverance, and the highlight of the academic year, we are particularly proud to have such an impressive, sought-after, accomplished speaker. “We are eager to hear his nuggets of wisdom for the class of 2021 in such dynamic times. Mr Minns has deep roots in The Bahamas, having grown up here and staying until matriculating to university abroad, and we believe he will not just inspire, but motivate, our graduates to keep climbing as he has done during an exceptionally impressive career thus far. “I have heard Mr Minns speak before and I truly

SEE PAGE 3


THE TRIBUNE

GOVT URGED TO ‘STRIKE HEALTH VISA ‘BALANCE’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A LEADING Bahamian aviation operator yesterday urged the government to “strike a balance” between demanding health travel visas from Bahamians while exempting foreigners from this requirement. Anthony K Hamilton, Southern Air’s director of administration, and president of the Bahamas Association of Air Transport Operators, told Tribune Business that Bahamian travellers are just as important as their foreign counterparts after it was revealed that the government is waiving health visa requirements for cruise passengers on vessels sailing out of Florida. The requirement, though, remains in place

for Bahamians, and Mr Hamilton said: “All of this goes together with putting a proper plan in place for the airline industry and working through it in that light. “Now in this instance, I suspect what they’re trying to do is maximise the economic benefit, but then you need a balance of this in terms of the privilege afforded the foreign party as it was the domestic party. Movement on behalf of the Bahamian populace is equally important to the economy as it is for the foreign parties.” Dionisio D’Aguilar, minister of tourism and aviation, speaking at the weekend, said: “With cruises that initiate out of Florida, the government has loosened its restrictions somewhat by saying all of those passengers that embark in Florida will

not require a health visa on the condition that the cruise company guarantees that if any of the cruise passengers get symptoms or feel unwell, they are disembarked.” Mr Hamilton, though, added: “We need to strike a balance. One of the things they often say in connection with this is the fact that they have information we don’t necessarily have. “But again, there’s a responsibility to the citizenry at large, in the best interest of the country. So the other aspect of that would be communication and ensuring adequate communication takes place, ensuring that the public is in a position to understand why that decision was taken.” Frederick Mitchell, chairman of the Progressive Liberal Party (PLP),

BREA chief: Govt must get subdivision correct By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Bahamas Real Estate Association’s (BREA) president yesterday said it was better for the government’s Prospect Ridge housing development be be done properly rather than put deadlines on it. Christine Wallace-Whitfield’s, pictured, comments came as other realtors made predictions on when the highly-touted subdivision for young professionals will be completed and the first home owners will move in, with one suggesting it would take three years to materialise. Mrs Wallace-Whitfield said: “I don’t think things will happen overnight and it is a work in progress. I think the government wants to do this development right. You have to put in the infrastructure and all sorts of different things. We always want things done right away. We need to have patience and ensure that this thing is done properly and effectively so we can have a fantastic result. “It’s all about giving young professionals an extra boost and to give them an opportunity to build a home and grow a family and build wealth. These things take time. I think this development could be completed within a three-year time frame, however. “Let’s put it like this, I don’t think this will take three years. Let’s hope that it doesn’t take three years,

INDEPENDENCE SALES ‘PICKING UP STEADILY’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net RETAILERS yesterday said sales are “picking up steady” for this weekend’s Independence Day celebrations following a 2020 when COVID restrictions meant celebrations were far more muted. Loretta Francis, marketing manager for Suntee Embroidme, told Tribune Business that sales of Independence Day-related merchandise have been picking up by the day as July 10 approaches. “This is our fifth week and we have seen a gradual increase every day,” said Ms Francis. Starting early “gives her customers time” to look at the individual designs Suntee has this year, and decide what type of shirts they want those designs printed on. Suntee launched its Independence Day programme last month, and Ms Francis added: “Customers in the Family Islands want to get their orders, and we just want to give people in general time to get themselves together and place their orders. “We have polo shirts, t-shirts and masks. The masks are something we added last year, but this year we increased our quantity in masks because of what’s happening. Masks are what

but we have to do it right and I think the government wants to get it right. I would rather them take the necessary time that they need to make it what they want it to be, and that is a new development that is top quality and top notch, so young professionals can be proud of it and proud to call it their home.” The government established the Committee for the Development of Communities for Young Professionals, headed by Viana Gardiner, chief operating officer of the Prime Minister’s delivery unit, to take decisions on who qualifies for a home in the subdivision. It includes professionals experience in property development, real estate, engineering, financial, legal, project management and public policy. “Because of the fact that they have their committee in place, and they’ve gotten a really good array of persons at the table to collectively make excellent decisions, I think moving forward those on the committee will serve this initiative well,” said Mrs Wallace-Whitfield. Not everyone thinks the development is well put together. Tennyson Wells Jr, the developer of the Lyford Hills subdivision, in an earlier interview with Tribune Business lamented that the asking price for a parcel of land is too low and will not attract the type of individuals the development is aiming for. He said that in order to make the project work, the people want and they want it to match their shirts.” Dr Cheryl Strachan, owner/operator of Beyond Flags, said that while sales are picking up “people have waited a lot later than in normal times”. Beyond Flags offers t-shirts, pins, custom printing, commercial printing and banners. Dr Strachan said: “We have wholesaled our car flags for three reasons. One is to allow people to show their national pride displayed on their cars. The second reason is so they can drive around with the flags on their cars. “The third reason is to allow people who want to resell them to make some money off of them. A lot of people missed having an income so this is an opportunity for them to make a little money for themselves. Car flags aren’t the only things that are selling with us, but it is something we are placing an emphasis on this year.” Beyond Flags was closed during last year’s Independence holiday in common with many other stores due to the COVID-19 restrictions. “2020 was a rough year,” Dr Strachan added. “I think COVID-19 in 2020 taught us a lot of lessons on how to conserve funds. So a lot of my customers just want to make sure that we were having an Independence Day celebration this year before they bought anything. “They didn’t want to splurge until they saw something, but they still have

SEE PAGE 5

government would need to raise the price from the $50,000 that the prime minister initially touted as being the ceiling. Mrs Wallace-Whitfield, though, said: “I just think the government wants to get this right and ensure that it is in an excellent neighbourhood and an area where people would be proud to live in. “One of the complaints I hear as a realtor is that people tell me they would never be able to afford a certain piece of property. I just think that it is great that the government can offer this to young professionals, despite only so many lots being available. “If you are lucky that you have been successful with this, then kudos to you, and for your future it would definitely be rewarding for those who choose to live in this community.”

blasted the exemption for non-home porting cruise passengers as “discriminatory”. He added of the health travel visa: “The PLP will scrap it altogether and make sure that people who enter the country are COVID-19 free or fully vaccinated. This visa thing is a bureaucratic nightmare.” He described the cruise passenger exemption as a clear “double standard”, as “the people in Bimini complain, for example, that while the police are harassing them about curfew infractions, tourists ride up and down Bimini flagrantly ignoring the rules without hindrance”.

Tuesday, July 6, 2021, PAGE 3

TOP BAHAMIAN AT MERCEDES-BENZ TO DELIVER BTVI GRADUATION SPEECH FROM PAGE TWO believe his message will resonate with the class of 2021, which has toiled to get to this point and, in some cases, under what may have been considered insurmountable odds. They deserve this opportunity albeit virtual - to celebrate and I know Mr Minns will add to the celebratory tone

of that day.” For the second consecutive year, BTVI will have a one-campus virtual graduation which includes Grand Bahama, New Providence and Andros. It will be broadcast live on the institution’s Facebook and YouTube pages on July 17, beginning at 10am. There are 291 graduates in the class of 2021.

To advertise in The Tribune, contact 502-2394


PAGE 4, Tuesday, July 6, 2021

LNG supplier funded hotel power move FROM PAGE ONE via an added component to the purchase price of the LNG supply.” RAV Bahamas had voiced concern as to how URCA will account for such “non-traditional financing” in the revenue requirements for calculating an electricity supplier’s weighted average cost of capital (WACC). The regulator, in response, said it will employ a ‘cash needs’ approach in calculating the revenue needed to cover debt servicing costs when assessing such financing methods. “When this approach is taken, investments financed from concessional loans are recovered through an

annual debt service charge and not included in the rate base. Similarly, the capital cost of the units are being financed by RAV’s fuel supplier, and the cost is being recovered via an added component to the purchase price of the LNG supplier which will be considered for analysis to be included in the revenue requirement,” URCA added. The late 2020 deal with New Fortress enables RAV Bahamas to act as a private power provider to the Resorts World hotel property, casino, and all facilities, homes and private villas. LNG tanks are filled at New Fortress’ plant in Miami, Florida, then shipped to Bimini. On-site power generation capacity is roughly nine megawatts (MW), with 7 MW from LNG and an additional 2 MW of diesel

THE TRIBUNE backup. Besides reducing fuel costs by 29 percent, the site has also reduced its carbon footprint by about 27 percent. URCA, in summing up its tariff review findings, said: “The regulator’s stated methodology consists of estimating public electricity providers’ revenue requirements; determining a tariff that allows them to adequately recover the full cost of service; what portion of revenue must be collected from each respective customer class and ultimately designing a tariff that ensures that allocated revenue can be recovered for each of those classes. URCA intends to use this methodology moving forward to establish a transparent framework for future tariff adjustments and periodic reviews.”

Inventory Clerk Job

WANTED

Our organization is currently hiring an Inventory Clerk to work in our warehouse. • The primary responsibilities of this role will be to manage the inventory control system, maintain product data, rectify miscalculations, review, and analyse the results of operations, report findings to management and make recommendations for improvement, as necessary. • You must have experience managing warehouse inventory. Inventory Clerk responsibilities and duties: • Review and apply inventory activities, including movements and deletions. • Maintain and update inventory records. • Develop and implement efficient inventory management procedures. • Reconcile inventory discrepancies. • Implement a loss prevention program. • Report any stock issues to management and place product orders, as necessary. • Prepare a list of depleted products and a survey of unusable products. We are looking for a candidate with appropriate education, certifications and technical skills and previous job experience in inventory. To apply email: chinainvestment1969@hotmail.com with your resume and quaifications.

Baha Mar owner: We’re being pitted against AG FROM PAGE ONE fraud and breach of contract claim against Baha Mar’s contractor, China Construction America (CCA). However, CTFE and its affiliates are seeking to block any request for judicial assistance to The Bahamas on the grounds they have already provided “substantial files plus other data” to the original Baha Mar developer. And they are claiming Mr Izmirlian agreed not to seek additional evidence from its Bahamian or other affiliates, and is now breaching this September 2020 deal. Should the New York State Supreme court issue the request for judicial assistance, CTFE is fretting that it will have to oppose this application in the Supreme Court. This will pit it against the Attorney General’s Office, which represents so-called “requesting states” in matters involving the Evidence (Proceedings in Other Jurisdictions) Act. “Thus if the proposed letter rogatory is endorsed and acted upon in such a manner, Perfect Luck will face potentially expensive and burdensome litigation in The Bahamas – all opposite The Bahamas’ Attorney General,” CTFE argued in legal papers seen by this newspaper. “And although Perfect Luck reserves its right to make such objections as may be appropriate, it will be litigating against The Bahamas Attorney General – not Baha Mar Properties.” CTFE alleged that Mr Izmirlian and his attorneys have now adopted “a ‘hands off’ approach” to the judicial assistance request, adding: “All of this indicates a consciousness of

how the injury to Perfect Luck will unfold. “Having lodged the proposed letter rogatory, Baha Mar Properties evidently plans to ‘sit back’ and let events unwind, all to Perfect Luck’s prejudice - that the Supreme Court of New York will endorse it and that The Bahamas’ attorney general will execute it. “The only party that can arrest this course of events is Baha Mar Properties itself. It is incumbent upon Baha Mar Properties to go the Supreme Court of New York, admit the promises it made in the letter agreement and withdraw the proposed letter rogatory,” CTFE alleged. “If the proposed letter rogatory is issued, the obligation transforms into an obligation to request that the Supreme Court of New York rescind the proposed letter rogatory. Only through such means will Baha Mar Properties put itself back into conformity with its contractual obligations and reverse the harm that it has caused to CTFE and Perfect Luck.” Communications between Perfect Luck, which was acquired by CTFE, and Baha Mar’s provisional liquidators; receiver-managers; and its China Export-Import Bank owner are Mr Izmirlian’s targets, along with details on the revisions made to the construction contract with CCA after Mr Izmirlian was removed as the project’s developer. CTFE’s attorneys, alleging that this breaches the agreement with Mr Izmirlian, reveal in their letter that the latter initiated legal proceedings in the Delaware Superior Court in October 25, 2019, to obtain documents and files from both its US and Bahamian affiliates - including Perfect Luck and Baha Mar’s immediate owner, CTF BM Holding Ltd. The two sides ultimately engaged in “cordial and productive” negotiations whereby CTFE’s Delaware

subsidiary “caused the Baha Mar affiliates to produce substantial files to BML Properties, plus other data”. “A condition of the signed agreement, which is governed by Delaware law, was that BML Properties would not seek document discovery in any forum (including in The Bahamas) from the CTF Baha Mar affiliates that had been requested in the Delaware subpoena,” CTFE’s attorneys wrote. “In recognition that CTF Delaware had complied with the agreement, BML Properties voluntarily dismissed with prejudice the Superior Court action governing the Delaware subpoena on February 2, 2021.” However, Mr Izmirlian then sought judicial assistance from The Bahamas on April 4, 2021, barely two months later. The documents plaintiff [Mr Izmirlian] is seeking from Perfect Luck are central to this matter,” the New York court said in its judicial assistance request. “Defendants’ [CCA] alleged fraud and delay resulted in the Government of The Bahamas initiating liquidation proceedings, and the Export-Import Bank of China, which had partially financed the project, initiating receivership proceedings, seizing plaintiff’s interest in Baha Mar, and selling Baha Mar’s assets to Perfect Luck, a Chinese entity owned by Export-Import Bank of China. “Perfect Luck thereafter re-engaged defendants as construction manager, awarded them lucrative work packages, and attempted to amend the contracts that had originally governed the parties’ relationship. Perfect Luck’s documents are therefore material to defendants’ intentional and knowing conduct to remove plaintiff from the project and attempt to strip plaintiff of its rights to the benefit of defendants.”

JOB OPPORTUNITY Property Superintendent - to oversee day-today operations of a commercial property in Nassau. The Property Superintendent is responsible for overseeing all daily maintenance, repairs, security, janitorial services, landscaping, etc. and to handle tenant maintenance complaints. Responsible for performing periodic property inspections to ensure tenant compliance with leases, scheduling routine service and maintenance on equipment and proper upkeep of the property. The following qualities are desirable for job selection:

- exceptional communication and organizational skills, detail oriented, customer service experience, ability to work under pressure, self motivated, self-directed, assertive, group problem solving and the ability to take direction and be an effective part of a property management team. Property or property management experience required.

Qualified applicants are to email a current and complete resumé to: bahamaspropertymanager position@gmail.com by July 14th, 2021


THE TRIBUNE

Tuesday, July 6, 2021, PAGE 5

‘Frustration at a peak’ on $90m project delay FROM PAGE ONE

collaboratively with the community over the design, the density, it provided long-term jobs for the community, and it fits into the aesthetics and culture of the community. But I can’t start any work with what is happening on the island right now.” Mr Winslow said Town Hall meetings were held to explain the project to Elbow Cay residents prior to Dorian, and he and his family completed the acquisition of the 19-acre Elbow Cay Club parcel shortly before the storm struck. All necessary Bahamas Investment Authority (BIA) and other approvals, he added, were obtained to redevelop a property that enjoyed its peak in the 1960s and 1970s. Describing it as “a gorgeous parcel of land” located south of Hope Town “on the sea of Abaco”, Mr Winslow said of plans that are ready to immediately proceed: “For the

reconstruction, this would create 75-150 jobs, and certainly once the resort opens obviously we have to engage almost all Bahamian community members, so it will probably be at least 100-150 full and part-time employees. “It’s a significant employment opportunity for the island. The entire project will probably be north of $90m, and my family our family - has invested approximately $15m to-date in the purchase of the land, the drawings and to get it to ‘shove ready’.” Mr Winslow’s family are the founders and controlling shareholders of Constellation Brands, a Fortune 500 company involved in the international production, marketing and sale of multiple beer, wine and spirits brands, including the likes of Corona, Modelo and Robert Mondavi wines. The family is also majority owners of HHC Florida LLC, a developer and manager of both commercial

and residential properties, which includes several USbased resorts in its portfolio. Mr Winslow, meanwhile, disclosed that they also acquired a further nine-acre parcel immediately to the Elbow Cay Club’s south last year. It will be the location for “back of house” facilities, including employee housing and a solar energy field complete with battery storage “so that the entire project is completely sustainable”. Other amenities include a 35-slip marina, but no refuelling facilities, a restaurant, spa and fitness centre that will have “a membership element” and be accessible to Elbow Cay residents and Abaconians. Spin-off businesses such as bike and gold cart rentals will go to existing such businesses on Elbow Cay. “We’re not trying to step on anyone’s toes,” Mr Winslow told Tribune Business. “We’re creating development that’s respectful and aligns with what is a very historic and special destination. We’ll be doing it in phases. The first phase will last approximately one yearand-a-half, and the second phase - the residences - we’ll build them as lots sell. We’re

Cays ‘feel neglected’ over Dorian recovery FROM PAGE ONE like assistance to remove the pile of unsightly debris. That was nine to ten months ago, and I keep hearing it’ll be next week, next week, next week. They indicate they want to help, but I haven’t seen any movement,” Mr Winslow continued. “It’s a shame. I’m less concerned for my own project. I think there’s a perception from central government that the barrier islands - Elbow Cay, Man O’ War Cay and Guana Cay - they have a bunch of wealthy homeowners that will take care of them, and they will focus on mainland Abaco and Grand Bahama. “I’m more worried about the community on Elbow Cay not being able to rebuild two years later. I’m not speaking for my development; I’m more concerned with preserving the history, the culture and the Bahamian community based on 11th and 12th generations on this island, and they feel they’re being neglected. There’s a perception the second homeowners will pay for everything, and we feel neglected.” Mr Winslow said he was still talking to persons who are “literally rebuilding their homes with their bare hands and have not had income for the past year-and-a-half.... I think it’s a very unsophisticated viewpoint that second homeowners will take care of Dorian on the barrier islands, and there are not enough Bahamians to worry about. There are a lot of struggling Bahamians on these islands,” he added. “It’s devastating to watch people living on friend’s and family members’ couches and not getting a return call from the DRA and not getting a penny in assistance. My focus is on helping the community members. The last thing we want is for Elbow Cay to become Harbour Island, where multi-generational Bahamians cannot afford to live on their island.” Mr Winslow and his family, who are the founders and controlling shareholders of Fortune 500 company, Constellation Brands, have played a key role alongside Bahamians and other residents of Elbow Cay in helping to finance its postDorian restoration. Their non-profit, Hope Town United, has raised $8m to-date, of which some

INDEPENDENCE SALES ‘PICKING UP STEADILY’ FROM PAGE THREE

a sense of national pride. So when the government started to put up the flags around the roundabouts, then I think they are beginning to sense that we are going to celebrate this year.

ELBOW CAY $2m has come from Mr Winslow and his family. In the storm’s immediate aftermath they helped to bring medical supplies, heavy machinery and water to Elbow Cay, while also arranging for the air and sea evacuation of several hundred of the island’s injured and most vulnerable residents. The group then worked with Samaritan’s Purse to clean-up Elbow Cay, and United Way of Palm Beach to restore the public docks, in addition to raising money themselves and from private donors to build a new primary school that was reopened a month-and-a-half ago. “We’ve made a long-term commitment to restore the island and preserve the history,” said Mr Winslow, who revealed that the number of “squatters” now occupying the site of the former Elbow Cay Club had risen to around 100-200 over the past 18 months. Suggesting that most appeared to be nonBahamian, he declined to speculate on their immigration status in the Bahamas. “My family has always treated people with compassion and empathy. I have a great deal of compassion and empathy for their plight,” Mr Winslow added. However, with The Bahamas now in another hurricane season, and his own inspections highlighting the health and other risks posed by “the real squalor” of these persons’ living conditions, he said their eviction from the property was “best all around” and “a very critical situation” - especially since their presence is holding up a project “of benefit to the island and the region”. Having given written warnings and notices of between 30-45 days to leave, Mr Winslow said the response had been that the “squatters” are not moving. And, having assembled a construction team to demolish the former Elbow Cay Club structures with effect from July 15, he revealed that this effort is now being “That’s what I get where I’m sitting. The feeling is you want your own flag. Don’t wait until you have to travel and then see other people out with their flag and you don’t have one. Then you can’t get mad when they have and you don’t. National pride starts at home.” Harold Dorsett, owner/ operator of Dorsett Tees, said he did not get any Independence Day stock despite his customers asking for it. He said: “We just decided not to make any this year.”

stymied by the refusal of the government authorities to help with a safe and orderly evacuation. Both the police and Immigration are declining to assist on the basis that the recent Supreme Court ruling prohibiting any further shanty town demolitions prevents them from doing so, although Mr Winslow argued the circumstances of his situation are much different because it involves trespassing on private property.

looking at a two-and-a-half year to three year construction project. “We’ve asked the community what they’d like to have on the island, and we’re coming in at a level that will really elevate other hotels and restaurants on the island, and create a really special destination and not cannibalise business or take away from others. I think there’s plenty of demand so that we don’t take away from the other hotels and restaurants on the island.” Mr Winslow and his family’s Sands Family

Foundation have been among the key players in Hope Town United, the non-profit group that has helped to finance and organise the clean-up and rebuilding of the settlement and wider Elbow Cay in Dorian’s wake. The group has contributed more than $8m to the destination’s restoration, with Mr Winslow disclosing that $2m of this sum has come from himself and his family. He told this newspaper that he has been coming to The Bahamas three to four times’ a year for the

past two decades, with 12-13 of those years spent calling on Elbow Cay and leading to his construction of a home on the island. “The island has not completely recovered,” Mr Winslow said, “but in Marsh Harbour they have a lot more work to do. Elbow Cay has bounced back entirely thanks to the work of the community and private dollars, and we want to take the next step in the recovery and are looking to the government to help us do that and allow the island to move forward.”

We the company are looking to hire a

Personal Assistant Personal Assistant Job Duties • Assist manager in different departments of the company • Prepare daily schedules for the manager, including meetings, breaks, lunches, and commitments. • Answer incoming calls and return phone and text messages in a timely and efficient manner. • Send and reply to emails on time. • Coordinate travel accommodations, including ground travel, air travel, and hotel stays. A personal assistant may be required to go along on business trips with the manager. • Handle incoming and outgoing mail. • Take and record meeting notes. • Complete personal tasks Personal Assistant Job Essential Skills Organization and time management skills. The PA must be able to efficiently multitask and prioritize. Computer skills. A personal assistant must be efficient in Microsoft Office, as well as have strong computer and administrative skills. Flexibility. A personal assistant must be extremely flexible, as different situations arise each day, and they must be effectively handled. Good written and verbal skills. Because the personal assistant will be interacting with many people on a daily basis, good written and verbal skills are essential. Attention to detail. A personal assistant must be attentive to details, as they will be the main point of contact for their manager or director. Attributes: (Efficient, discrete, flexible, self-motivated, organised, proactive, a good communicator) Requirements: Must have an Associate’s Degree (preferably in Communications and/or Administration)

email: bahamaslocalpartner@gmail.com


PAGE 6, Tuesday, July 6, 2021

THE TRIBUNE

‘Can’t rest on laurels’ over 47% FDI rise FROM PAGE ONE

However, while The Bahamas enjoyed a 47 percent increase in FDI inflows to $897m, these statistics were not as impressive as they seemed. For the UNCTAD report indicated that much of the increase stemmed from reinsurance inflows related to Hurricane Dorian reconstruction as opposed to capital investments in tourism and other industries/businesses. “In The Bahamas, inflows grew by 47 percent to $897m despite the contraction of the domestic economy and tourism. Reconstruction works following the ravages of Hurricane Dorian in 2019 and investment in ICT (information and communications technology) services continued in 2020,” the

World Investment Report 2021 stated. Mr Aubry, who served as a member of the government-appointed Economic Recovery Committee, said the 2020 inflows were “not necessarily something we can trust as sustainable or based on capacity” given that they appear to be linked to one-off Dorian reconstruction. “It doesn’t sound like we can rest on our laurels,” he told Tribune Business. “We have to recognise the value of broadening the ease of doing business and smart, strategic FDI that aligns with the domestic economy and makes sure local opportunities are there. A stronger and more diverse local economy benefits from strategic FDI. “I think there’s things we can do to shore this up through accelerating the decision-making process.

NOTICE

NOTICE NOTICE is hereby given that FRANCINE PROSPER, of Johnson Road, Nassau, The Bahamas 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 6th day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that DEBRA BELTSCHATSAR DOMINIQUE of P. O. Box CR-54411, Montrose Avenue, New Providence, 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 6th day of July, 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, Bahamas.

NOTICE

NOTICE

NOTICE is hereby given that TAHIRU MAHAMA, of Hampden Road, Stapledon Gardens, Nassau, The Bahamas 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 6th day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that KEVANNA VALCIN of East Street, Nassau, The Bahamas 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 29th day of June 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

INTENT TO CHANGE NAME BY DEED POLL

www.bisxbahamas.com

BISX ALL SHARE INDEX:

CLOSE

CHANGE

1939.91

0.01

%CHANGE

YTD

YTD%

0.00 -152.55

-7.29

(242) 323-2330 (242) 323-2320

BISX LISTED & TRADED SECURITIES 52WK HI 6.50 33.95 1.62 2.90 1.78 6.00 6.96 3.60 5.32 3.90 6.16 12.00 2.75 7.76 10.71 9.55 14.44 4.10 8.97 16.00

52WK LOW 3.13 22.65 1.46 1.62 1.43 5.00 6.00 2.70 4.25 2.74 5.00 9.75 2.10 4.90 9.50 8.35 13.00 3.42 8.00 15.20

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

1.00 10.00 0.90

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

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

LAST CLOSE 6.00 39.95 1.60 2.61 1.44 6.00 6.96 3.53 4.75 2.48 5.95 10.20 2.37 7.76 11.18 9.55 13.99 3.70 8.30 15.50

CLOSE 6.00 39.95 1.60 2.61 1.44 6.00 6.96 3.53 4.75 2.48 5.95 10.20 2.37 7.76 11.20 9.55 13.99 3.70 8.30 15.50

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

SYMBOL FBB22 BFHB

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1292394 BSBGRS650219 BSBGRS900283 BSBGR1322498 BSBGR1341506

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.67 100.14 100.98 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.67 100.14 100.98 100.00

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

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

BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 102.00 100.00 100.67 100.74 100.98 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.67 100.14 100.00 100.00

52WK HI 2.43 4.47 2.17 202.18 190.86 1.69 1.81 1.78 1.12 8.58 10.26 7.35 14.59 12.84 10.31 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.67 1.73 1.75 1.03 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

MUTUAL FUNDS

MARKET TERMS

Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BGR129239 BGRS FL BGRS65021 BGRS FL BGRS90028 BGRS FX BGR132249 BGRS FX BGR134150

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global 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

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

CHANGE 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 0.02 0.00 0.00 0.00 0.00 0.00

VOLUME 10,000

2,000

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

EPS$ 0.239 0.932 0.000 0.110 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

NAV 2.43 4.47 2.17 202.18 190.86 1.69 1.75 1.76 1.03 8.58 10.14 7.35 14.59 12.64 9.99 N/A 10.43 14.89

that can be replicated”. Mr Aubry added: “We need strong rates of growth and it needs to come from something we can control as opposed to being built on circumstance. “Our ability to recover is good; our ability to be resilient is something different. It’s the difference between surviving and thriving, and that’s what we need to be striving for.” Last year’s World Investment Report revealed that FDI inflows to this nation fell by 32.8 percent yearover-year to $637m. That represented a level equal to just 20 percent of FDI’s peak in 2014 when Baha Mar’s construction was being raced to its completion (unsuccessfully at that time). “FDI inflows to The Bahamas, the largest host economy among small island developing states (SIDS), shrank by a third to $637m, one-fifth of the peak registered in 2014,” UNCTAD said. “Investment in hotel projects slowed, and construction projects slated to start in 2019 were forced into a delay by Hurricane Dorian.” That indicates that FDI inflows to The Bahamas increased by some $260m year-over-year in 2020. That, though, represents a 40.8 percent increase as opposed to the 46.8 percent increase cited in the latest report, indicating there may have been a slight downward revision to the 2019 figures.

PUBLIC NOTICE

MARKET REPORT MONDAY, 5 JULY 2021

We’ve recommended to develop a full Land Use Plan so we know what projects we’re looking for. Instead of what comes knocking at the door, identify where we need to push and drive. We’ve identified medical tourism as being of value, and technology as being of value.” Mr Aubry said lessening the bureaucracy and red tape associated with Know Your Customer (KYC) processes in the financial services industry, and ensuring The Bahamas avoids so-called ‘grey’ lists and ‘black’ lists, was also key to enhancing the country’s reputation and giving it a “more competitive advantage” in attracting quality FDI. And “the progressive way to be more competitive and attract investment here” involves boosting The Bahamas’ fight against corruption and enhancing integrity through implementation of legislation such as the Procurement Bill and passage of the Integrity Commission Bill. “It still comes down to the experience of the investor,” Mr Aubry added. “They don’t want to encounter bureaucracy and a lack of clarity. We need to be sharp, strategic and apolitical as much as we can because the future of the country really depends on getting this blend right.” He said The Bahamas needs to increase its annual FDI inflows beyond the numbers detailed by UNCTAD for 2020 as they “don’t come from a model

DIV$ 0.170 1.260 0.020 0.030 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

P/E 25.1 42.9 N/M N/M N/M N/M 18.9 -8.1 33.9 13.5 13.3 14.1 23.2 16.6 17.3 13.1 17.1 18.2 8.8 24.6

YIELD 2.83% 3.15% 1.25% 1.15% 0.00% 0.00% 3.74% 0.00% 0.00% 4.84% 3.70% 7.06% 18.31% 0.77% 2.93% 2.51% 3.86% 3.24% 2.41% 3.94%

0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

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

INTEREST Prime + 1.75% 6.25%

19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.04% 4.63% 4.39% 5.65% 5.69%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 15-Apr-2039 6-Sep-2021 10-Dec-2028 15-Oct-2049 17-Jan-1950

YTD% 12 MTH% 1.85% 4.26% 0.77% 1.44% 1.14% 2.84% 0.14% 5.02% 3.25% 31.13% 1.04% 0.20% -2.27% -3.15% -0.08% -0.57% -1.94% -3.33% 1.14% 4.22% 1.09% 3.04% 1.01% 4.65% 4.93% 42.27% -1.56% 0.80% -0.60% -4.90% N/A N/A 3.00% 25.60% 7.90% 48.70%

MATURITY

NAV Date

31-May-2021 31-May-2021 28-May-2021 31-Mar-2021 31-Mar-2021 31-May-2021 31-May-2021 31-May-2021 31-May-2021 28-Mar-2021 28-Mar-2021 28-Mar-2021 28-Mar-2021 28-Mar-2021 28-Mar-2021 31-Mar-2021 31-Mar-2021 31-Mar-2021

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

The Public is hereby advised that I, SHANIQUA DEE MADERA CARRASCO NEE WOODSIDE of Columbus Avenue, Greater Chippingham, P.O. Box EE-15027, New Providence, The Bahamas, Parent of EMERI ROSE MADERA CARRASCO A minor intend to change my child’s name to EMERI ROSE MADERA. 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.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SHANIQUA DEE MADERA CARRASCO NEE WOODWIDE of Greater Chippingham, P.O. Box EE-15027, Nassau, Bahamas intend to change my name to SHANIQUA DEE MADERA. 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.

NOTICE NOTICE is hereby given that EVENS BILZON, of Central Pines, Abaco, P.O. Box General Delivery, The Bahamas 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 6th day of July 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that WILGENS EUGENE, of Mount Royal Avenue, Nassau, The Bahamas 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 29th day of June 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that CHARLENE MARIE GRAY-MOTT, of #18 Taylor Street, P.O Box N3841 Nassau Village, The Bahamas 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 29th day of June 2021 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.


Turn static files into dynamic content formats.

Create a flipbook
07062021 BUSINESS by tribune242 - Issuu