12072016 business

WEDNESDAY, DECEMBER 7, 2016

business@tribunemedia.net

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Bahamas facing $500m climate impact by 2025

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net Climate change impacts could cost the Bahamian economy almost $500 million annually by 2025, the Inter-American Development Bank (IDB) has warned, with “badly designed” infrastructure and coastal erosion increasing the threat.

The IDB, in unveiling a $26 million project designed to improve the ability of the Bahamas’ coastline and associated infrastructure to withstand climate change, highlighted the growing danger for this

nation’s key economic assets and industries.

Its report, which has been obtained by Tribune Business, warns that “a recent study” shows flood prone areas in Nassau will expand by 8 per cent come 2050, due to increased rainfall created by climate change.

While not huge, such a percentage is significant on an island that is just 21 miles long and seven miles wide, with numerous areas - as shown by Hurricane Matthew - already prone to flooding during heavy rainfall and major storms.

The IDB report also warned that more than one-third of the Bahamas’

hotels and airports, and 90 per cent of its ports, would be placed “at risk” by a onemetre sea level rise induced by climate change.

And, in just over eight years, it predicted that climate change impacts could be costing the Bahamas and its economy anywhere between $240 million to $480 million annually - figures that increase to $310 million to $620 million by 2050.

“There are various estimates of economic costs associated with these climate change impacts,” the IDB warned in the Bahamas’ case.

See pg b7

IDB: Costs could rise to over $600m by 2020 Badly-designed infrastructure exacerbates threat Nassau’s flood prone areas to expand by 8% Tourism growth, ‘natural capital’ both in jeopardy

Nassau port operator mulls $65m Haiti bid

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net The Nassau Container Port’s (NCP) operator is evaluating whether to bid on a $65 million port redevelopment project in Haiti, as it targets “material financial benefits” from expanding into the Caribbean.

Michael Maura, Arawak Port Development Company’s (APD) chief executive, told Tribune Business yesterday that the BISX-listed port operator would seek to joint venture with “a large global partner” if it proceeded with a Cap Haitien bid.

BPL ‘more ambitious’ than Govt with 20% renewables in 5 years

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net

Potter’s Cay, Marsh Harbour proposals in early 2017 Seeking land for ‘secondary Customs inspection’ “The US State Department’s USAID (US Agency for International Development) has committed to See pg b8

One&ONly Ocean Club’s Dune By JeanGeorges Vongerichten.

Warns of ‘high rise’ in energy costs Hotel sector, consumers will ‘really be questioning’ residential consumers.

Mr Bhatnagar added that he expected consumers will “really be questioning the high rise in the cost of energy” once the bond is placed, given that their tariffs will contain an additional charge that will be dedicated solely to paying RRB investors their due interest payments.

His comments came after Mr Davis said the renewable energy ambitions of BPL and its manager, PowerSecure, were even more ambitious that the National Energy Policy 2013-2033, which aims to have 30 per See pg b6

Govt warned: ‘Move quickly’ on reforms after Ocean Club A trade union leader yesterday said the One & Only Ocean Club terminations had reinforced the need for the Government to “move quickly” in changing the law to ensure expired industrial agreements remain in effect until new deals are sealed.

Obie Ferguson, the Trades Union Congress (TUC) president, said the 61 terminations on Paradise Island again showed how aggressively hotel properties were now behaving towards workers and their union in the absence of a valid industrial deal.

He warned that unless legislative action was taken to protect Bahamian workers, it would lead to “a very frustrated industry” and undermine tourism - the economy’s largest sector and private employer.

“This brings home the point we have always advocated to the Government,” Mr Ferguson told Tribune Business of the One & Only Ocean terminations.

“We know what the defects are. We have pointed it out to the Government consistently, and said: ‘Look, if these agreements are going to expire and [the employer] goes to dismiss the worker when it expires, amend the law to ensure the terms that were in place remain in effect until a new industrial agreement is negotiated.

BISX-listed APD still eyeing Caribbean expansion

Director: Customers to pay for turnaround

The Deputy Prime Minister yesterday touted Bahamas Power & Light’s (BPL) business plan as even “more ambitious” than the Government’s National Energy Policy (NEP), calling for renewables to generate 20 per cent of this nation’s electricity within five years.

Philip Davis’s comments on BPL’s business plan which is yet to be made public, came during his address at the Caribbean Infrastructure Finance Forum (CARIF).

The event also saw BPL’s executive director, Deepak Bhatnagar, warn that a “high rise” in Bahamian energy costs is imminent if the utility monopoly’s financial and operational performance is to stabilise.

He confirmed that the cost of repaying the proposed Rate Reduction Bond (RRB), which will refinance the legacy $650 million debts and liabilities of the Bahamas Electricity Corporation (BEC), BPL’s parent, will be borne entirely by business and

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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TUC boss urges action on preserving expired terms No industrial deal allows hotels to act aggressively Fears ‘frustrated industry’ that will hurt tourism

Obie Ferguson “It shouldn’t take 10 years to do something of that nature. We’ve consistently asked the Government to do it.”

Hotel workers represented by the Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) are especially vulnerable, because its industrial agreement with the Bahamas Hotel and Restaurant Employers Association expired in See pg b5

Union: Ocean Club blindsided, misled us on terminations

By NEIL HARTNELL Tribune Business Editor and By NATARIO McKENZIE Tribune Business Reporter The hotel union yesterday accused the One & Only Ocean Club of blindsiding and misleading it over yesterday’s move to terminate 61 staff from the highend Paradise Island resort.

Darren Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) general

Claims resort GM said ‘no job losses’ in October Only told at 10am yesterday - after 61 cuts underway Hotel follows Sandals model on ‘underperformers’

secretary, told Tribune Business that it was only notified of the terminations at 10am yesterday morning - when the exercise was already underway.

And he argued that the resort had also performed a complete ‘u-turn’ on its position at end-October, when its top executive responded to questions from union officials by saying there would “be no reduction in jobs”.

As a result of yesterday’s See pg b6

PAGE 2, Wednesday, December 7, 2016

RBC launches new mobile banking app Royal Bank of Canada (RBC) has launched its Mobile Banking app for iOS and Android devices across the Caribbean, including the Bahamas.

This service is designed to provide flexibility and convenience to RBC’s personal and business banking clients, who will have the ability to conduct transac-

tions anywhere - and at any time - using this device.

The bank has also launched a new website, as part of its goal to have a single digital platform for clients across all markets.

Nathaniel Beneby, managing director for RBC in the Bahamas, Cayman Islands and Turks and Caicos Islands, said: “We recognise

the changing demand of our clients for digital payment options as part of their daily banking services.

“Clients want to be able to perform easy and secure daily banking activities on an anytime/anywhere basis. The launch of the RBC Mobile Banking App is a significant milestone for our markets in the Caribbean, and part of the bank’s purpose of helping our clients thrive and shape their future”.

Mr Beneby added: “We See pg b5

THE TRIBUNE

Doctors Hospital names successor to president Dr Charles Diggiss

Doctors Hospital Health Systems (DHHS) has selected Dr Charles Diggiss to succeed recently-retired Barry Rassin as its president.

The BISX-listed healthcare provider, in a state-

ment issued yesterday, said Dr Diggiss will continue to serve as its chief medical officer - a position he has held since 2002 - while also assuming the president’s responsibilities.

Mr Rassin had been responsible for dealing with Doctors Hospitals’ ‘bigger picture’ issues, namely its business strategies, plus the assessment of potential growth and expansion opportunities.

The company yesterday indicated that Dr Diggiss will have similar responsibilities, including the development of its vision, new clinical programme and service development.

He will also be charged with developing relationships with strategic partners, both in the Bahamas and internationally, as well as overseeing the hospital’s medical staff and patient care concerns.

Dr Diggiss will report to the Board of Directors and continue to work alongside chief executive, Charles Sealy II, and the executive team. Mr Sealy has oversight for Doctors Hospital’s dayto-day operations.

“Dr Diggiss has been an integral part of Doctors Hospital’s growth and success, not only as a leading surgeon but also as a member of our executive team and as a member of the Board of Directors,” said Mr Seealy.

“This experience in both the clinical and administrative aspects of the organisation makes him the ideal candidate to help navigate the continued development of Doctors Hospital as the leading private health care provider in the Bahamas.”

Dr Diggiss said: “One of my favorite quotes is ‘opportunity advantages those who are best prepared’, and what I see as a strong part of my role is preparing the Doctors Hospital Health Systems for explosive growth in the immediate future.”

Dr Diggiss joined Doctors Hospital Health Systems in 1983 as a physician on the overnight shift. In the more than 30 years since, he has introduced advanced technologies in surgery, established the organisation’s medical staff, formalised the risk management programme and developed the hospital’s Emergency Medical Services department.

In 1994, he spearheaded the introduction of laparoscopic general surgery to Doctors Hospital and the Bahamas. He joined the Board of Directors a year later and, in 1996, stepped up to provide physician leadership at the hospital.

This role was formalised in 2002 when he became the hospital’s first chief medical officer.

Dr Diggiss played a key role in Doctors Hospital becoming the first acute care hospital in the Caribbean region to achieve Joint Commission International accreditation in 2009.

THE TRIBUNE

Wednesday, December 7, 2016, PAGE 3

Manufacturer sees trade rise four-fold

ByNATARIO McKENZ IE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A Bahamian manufacturer yesterday estimated that it had seen a four-fold increase in business in Hurricane Matthew’s aftermath, telling Tribune Business it was targeting the launch of a second location before year’s end.

Larry Phillips, founder of Phillips Sailmakers & Awning Manufacturers, told Tribune Business yesterday: “It’s been crazy since the hurricane for people in construction, anyone in roofing, landscaping; it’s been crazy.

I would roughly say that business is about four times up.”

Mr Phillips said his company, which has been in business for 35 years, is planning on opening a second outlet for its furniture offerings in Sandyport before year’s end.

“We are now opening up a second location in Sandyport, for furniture,” he said, “bringing in more indoor furniture, buffets, cupboard headboards, that kind of stuff, along with some highend lamps and accessories.

“That should be open in another few weeks before the end of the year. One person is already hired, there will probably be another, and we’re looking for two more people here. That’s four jobs total.”

Mr Phillips added: “If we get our duty exemption back

Phillips Sailmakers plans second Sandyport location Could add up to six staff if duty exemption returned for the seats we will probably be looking for six persons.

We had to slow the growth of that down because prices went up and we had to make less profit.

“We had a supplier here who had asked, if we were doing that, why didn’t we bring in the furniture. We started bringing in the outdoor furniture and making our own cushions here.

“At the onset, Customs would give us an exemption on anything we did work for.

Some years later someone decided that we were violating the Duty Free Manufacturers Act; just the furniture side.”

Prior to the recession, the company employed as many as 19 persons, according to Mr Philips. “We’re up and down. Right now, we’re up,” he added.

“Right now we have about 15 employees. We were as high as 19 and then the recession hit. As people left we didn’t replace them.”

The company has operated out of its Shirley Street location since 1999.

Larry Phillips, the founder of Phillips Sailmakers & Awnings Manufacturers (top right), is opening a second location at Sandyport. His company specialises in boat enclosures, Bimini frames and tops, canvas covers, boat cushions and welding among others. Photos/Aaron Davis

RBC completes disposal of Bahamas businesses A financial services provider yesterday said it had completed its expansion into the Caribbean by closing its acquisition of Royal Bank of Canada’s (RBC) former Bahamian trust and fund administration business.

SMP Partners Group said its new asset will operate from offices in Lyford Cay, with Stephen Turner, its chief executive for the Caribbean region, heading the operation.

He will be assisted byDeidree Bain, a director, who is transferring from RBC. SMP Partners group chairman, Steve McGowan, said: “This acquisition further extends the group’s global network by establishing our presence in the Caribbean region.

“We have earned an excel-

SMP buys former trust, fund administration units lent international reputation as leaders in trust, fund and corporate administration services, and look forward to delivering the same high standards to clients from our new offices in Lyford Cay.” Mr Turner added: “SMP Partners is committed to investing time to establish long-term relationships, and applying the collective expertise and experience to build and manage tailored solutions that fit precisely with the requirements of our clients.

“This expansion of the business is an opportunity to bring our high-quality

services to a new client base while growing our Caribbean trust, fund and corporate administration operations as part of the SMP Group, further enhancing the services and opportunities for clients and staff.”

SMP Partners announced the deal to purchase RBC’s trust, fund administration and custody business across the Caribbean region, which includes businesses in the Bahamas, Barbados and Cayman, last year.

The Bahamas portion of the transaction, which was subject to normal regulatory approvals and closing conditions, was concluded this month.

The purchase of the Barbados and Cayman businesses will conclude when certain regulatory approvals and closing conditions are

fulfilled. Financial terms have not been disclosed.

Headquartered in the Isle of Man, SMP Partners Group is wholly owned by its management and provides trust, fund and corporate administration from its offices on that island, and from Switzerland and Hong Kong.

The group offers financial solutions spanning more than 60 jurisdictions, plus experience in trust and company management, fund administration, tax, corporate law and accounting.

PAGE 4, Wednesday, December 7, 2016

THE TRIBUNE

Marinas demand ‘national effort’ against boat thieves Despite a 50 per cent year-over-year reduction, Bahamian marina operators are demanding a “big, nationwide effort” against boat theft following a recovery effort that spanned two islands.

The Association of Bahamas Marinas yesterday revealed that two boats recently stolen from Treasure Cay, Abaco - a 34-foot SeaVee sport fishing boat, worth $140,000, and a 31foot Jupiter - have both been recovered.

The hunt for the SeaVee, involved a 10-day chase across two islands. Captain Cliff Bootle, marina manager for the Treasure Cay Beach, Golf and Marina Resort, reported the SeaVee missing on the morning of November 23, but the chase only ended when a close friend of his found it on December 3, partly covered by a tarp in a lot behind a Nassau Village church.

Mr Bootle said the search succeeded due to the determination of his friend, social media posts and a fortunate mistake by the thieves, who set off a rescue beacon signal that was picked up by the US Coast Guard.

The Boynton Beach vessel, called Desperado, was found stripped of its twin 250HP (horse power) Yamaha four stroke engines, but otherwise intacte.

When the boat, owned by a Georgia resident visitor, was discovered missing on November 23, Mr Bootle started searching the Treasure Cay area and reported the theft to the police. He began calling industry contacts, and his sister spread the Association’s alert on

Calls comes after two-island vessel recovery search Hurting Bahamas’ economy and reputation Police ‘overloaded’, don’t have resources to cope Facebook.

Days later, on December 28, the post was spotted by dock worker from a Nassau marina, who had seen a boat matching the description being towed down Soldier Road by a black truck.

Mr Bootle contacted a close friend who began canvassing south Nassau the following day. But the big break break came on November 30, when the US Coast Guard picked up a signal from the boat’s rescue beacon, accidentally set off by the thieves.

The Coast Guard picked up two signals: one in Nassau Village, and another in Marshall Road. Mr Bootle’s friend focused on the Nassau Village signal.

He finally spotted the boat on Friday, December 2, in a Sequoia Road car wreck work yard, off Buttonwood Avenue, and located behind the One Accord Pentecostal Ministries church. Captain Bootle caught an early morning flight from Treasure Cay and confirmed the Desperado’s identity.

To secure the vessel, Bootle summoned the Marina Association’s contacts

THE INTERNATIONAL BUSINESS COMPANIES (WINDING UP AMENDMENT) ACT, 2011 AND THE COMPANIES ACT, CH. 308 NOTICE OF FINAL GENERAL MEETING ENHANCED FRONTIER LIMITED SAC (IN VOLUNTARY LIQUIDATION) Registration No. 4 SAC Notice is hereby given that a Final General Meeting of the Members of the above-named Company will be held at the offices of Multiplicity Partners AG on the 30th day of December, 2016 at 15:00 CET (09:00 am EST), for the purpose of having an account laid before them, showing the manner in which the winding up had been conducted, and the property of the Company disposed of, and hearing any explanation that may be given by the Liquidator, and also of determining by Resolution the manner in which the books, accounts and documents of the Company, and of the Liquidator shall be disposed of.

Dated this 5th day of December, 2016 Multiplicity Partners AG Liquidator

The stolen SeaVee boat being recovered from Nassau Village. at the Royal Bahamas Police Force’s Marine Unit.

The boat was secured with armed guards and taken to the police compound for fingerprinting. The engines that were seen on the boat when it was being transported along Soldier Road had gone.

“Now we have to figure out who stole it. This time we were lucky,” said Mr Bootle. “This is a case of doing everything possible to help a customer. We’ll move heaven and earth to recover any vessel from our marina.”

He called for drastic action to stop boat thefts, which are hurting Abaco’s economy and reputation - especially among its key second homeowner market.

“The police in the whole of Abaco only have one boat. It should have at least four, one for each area,” Mr Bootle said.

“The thieves know it’s hard to catch them. It’s an easy life and good living

for them. We’ve tried to get government’s attention to make the penalties and bail conditions harsher, but the industry feels that the system is ineffective and not doing enough.

“Although thefts are down 50 per cent from last year, it’s still a major problem. The laws are way too light. These thieves are caught but the next day they’re on the streets again planning the next one. Giving these guys light bail is a serious problem. They should all be electronically monitored. But even that doesn’t work sometimes.”

Pastor Preston Collins, of the One Accord Pentecostal Ministries church, said he saw the boat being trailered into the yard behind his church, figuring it was innocently being brought in for repairs.

“The engines were on at the time,” said Pastor Collins, “But now they’re gone. They also sanded off the name. You can see

Legal Notice

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

AMERICAN TRADE SUGAR INCORPORATED In Voluntary liquidation

“Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act (No. 45 of 2000), AMERICAN TRADE SUGAR INCORPORATED is in Dissolution.”

The date of commencement of dissolution is the 5th day of December, 2016.

ROCKWELL LTD #25 Mason Complex, Stoney Ground P. O. Box 193, The Valley British Anguilla Liquidator

the white marks where the words were.

“The boat’s electronics and radar are still there,” said Mr Bootle. “So, the thieves didn’t get everything.”

MarinasAssociation president, Stephen Kappeler, said of Mr Bootle’s efforts: “This was a superb case of going the extra mile to assist our marina customers. He didn’t have to go, but Cliff wanted to serve his owner-customer in the most safest way.

“He rushed to the plane with no concern for himself - no clothes, no toothbrush.

He had to ask his family to put some clothes on the next plane. We’re proud of Cliff’s dedication and perseverance.”

Mr Kappeler added: “Our thanks also go out to ASP Adderley and his Nassau RBPF Marine Unit and other officers. They came to the crime scene and brought in armed support to protect it from any further loss.

“We hope the brazen thieves will be caught, appropriately punished and put out of action, behind bars - with strict terms or no bail.”

Bob Bower, the Association’s executive director, added: “Boat theft remains a major threat to boating, yachting and fishing tourism in the Bahamas. For a real solution, this must receive attention from the

highest levels.

“In Abaco, the police need to be equipped with more than a single boat for responding or patrolling the entire Abaco chain, where the problem has been more severely felt.

“An island chain of this length needs a minimum of four active police interceptors: one for Hope Town and Elbow Cay, one for Marsh Harbour, a third for Green Turtle, and one in reserve for repair. In fact, each habited major cay or settlement could use one.

That would total about eight patrol craft.

“And all the police should be trained in boat seamanship and equipped for night interception with night vision and searchlights. Interisland and inter-settlement communications could do with a major upgrade.”

The Marinas Association is encouraging boat owners to do everything possible to secure their boats and engines. Boaters are being urged to install tracking devices, alarms and engine and prop locks, while dock owners and marinas are advised to employ bright lighting and video surveillance.

“Nowadays, every boat and engine should have tracking devices. They’re increasingly affordable and easy to install,” Mr Bower said.

Calling for boat thieves to be more severely punished, he added: “The penalties are far too low. The Association has been asking government for seven years and more to address the boat theft problem.

“Police catch these lifecriminals, but easy bail terms let them out to steal their next boat. Bahamians and visitors - as well as the police - are tired of asking and the frustration of nothing getting done.

“A big, nationwide effort against boat theft needs to be organised,” Mr Bower said. “Every stakeholder needs to be present at the table, and a definite plan made and close follow-up.

The police are overloaded and don’t have anywhere near adequate resources.”

NOTICE

NOTICE is hereby given that ertso caster of Jackfish Drive, Carmichael Road, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

LEGAL NOTICE

SAMWELL GROUP LTD. Company No. 1837229 (In Voluntary Liquidation)

WEXBORN PARTICIPATION CORP. Company No. 327326 (in voluntary liquidation)

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that SAMWELL GROUP LTD. is in voluntary liquidation. The voluntary liquidation commenced on 2nd December, 2016 and RACHEL LOUISE WELLS of Lieudlt La Gallerie, 31 Route de Breil, Channay Sur Lathan, France has been appointed as the Sole Liquidator.

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that WEXBORN PARTICIPATION CORP. is in voluntary liquidation. The voluntary liquidation commenced on the 1st December, 2016 and DANIEL ROHRBACH at Splügenstrasse 6, 8002 Zürich, Switzerland has been appointed as Sole Liquidator.

Dated this 2nd day of December, 2016 Sgd. RACHEL LOUISE WELLS Voluntary Liquidator

Dated this 1st day of December 2016 Daniel Rohrbach Voluntary Liquidator

Luciano Tadeu Silva Ramos Liquidator

KERWIN UNITED S.A. Company No. 1465473 (In Voluntary Liquidation)

NOTICE BOIVIN HOLDINGS INC. In Voluntary Liquidation

RODRIGO ASSOCIATED S.A. Company No. 471432 (in voluntary liquidation)

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that KERWIN UNITED S.A. is in voluntary liquidation. The voluntary liquidation commenced on 24th November, 2016 and DR. WOLFGANG RABANSER of Landstrasse 33, 9490 Vaduz, Principality of Liechtenstein has been appointed as the Sole Liquidator.

Dated this 24th day of November, 2016 Sgd. DR. WOLFGANG RABANSER Voluntary Liquidator

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, BOIVIN HOLDINGS INC. is in dissolution as of December 2, 2016 International Liquidator Services Inc. situated at 3rd Floor Whitfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________

NOTICE INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000) In Voluntary Liquidation Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), MERCURY INVESTMENT FUND LTD. (the “Company”) is in dissolution. The date of commencement of the dissolution is 1st December, 2016. Luciano Tadeu Silva Ramos is the Liquidator and can be contacted at Av. Celso Porfirio Machado 1031, Belvedere, Belo Horizonte, Minas Gerais, Brazil. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Liquidator before 28th December, 2016.

NOTICE is hereby given pursuant to Section 204 (1)(b) of the BVI Business Companies Act, 2004 that RODRIGO ASSOCIATED S.A. is in voluntary liquidation. The voluntary liquidation commenced on the 1st December, 2016 and FELIX HANS LIENHARD at Rosenbergstrasse 2, 8200 Schaffhausen, Switzerland has been appointed as Sole Liquidator.

Dated this 1st day of December 2016 Felix Hans Lienhard Voluntary Liquidator

THE TRIBUNE

Wednesday, December 7, 2016, PAGE 5

Govt warned: ‘Move quickly’ on reforms after Ocean Club From pg B1 January 2013.

The union failed to initiate negotiations on a new agreement within the 90day period stipulated prior to the old one’s expiration, and the employers association said at the time they were continuing to operate as if the old one was in effect.

It has long been the established custom and practice that expired industrial agreements remain in effect until a new one is negotiated. However, unionists are arguing that both Sandals and the Melia have broken with this convention.

Sandals, in terminating its 592 Royal Bahamian staff in the summer to facilitate its three-month renovation project, said it had no choice but to do that given that the sector’s industrial agreement was no longer in effect.

As for the Melia, the Supreme Court ruled last year that no industrial agree-

ment between the resort and BHCAWU had been registered since 2003, thus making it ineffective in law.

Following that, the hotel has discontinued collecting union dues and paying them to the BHCAWU, while also denying union executives access to the property.

The One & Only Ocean Club appears to have adopted a ‘leaf from the playbook’ of both other resort properties. It has already obtained an injunction barring BHCAWU executives from its property, which the union is currently challenging in the Supreme Court.

The high-end Paradise Island boutique also seems to have used its temporary closure, as a result of Hurricane Matthew-related repairs, to follow Sandals in terminating under-performing employees who were undermining the guest experience and jeopardising its five/six-star service reputation.

All the resorts have acted

legally, and as they see fit in the management of their operations and pursuit of profits. However, the One & Only Ocean Club’s move will likely reinvigorate union reform demands.

Mr Ferguson said that “probably in excess of 90 per cent of unions” with industrial agreements fail to agree new contracts with employers before the old ones expire, making the need for legislative action even more important.

“There’s a prevailing view now adopted by the employers that if the agreement is not registered, or is not current, then it’s open to them to terminate,” he told Tribune Business.

“Unfortunately, the legal position is they have a right to do it. That is because where you don’t have an industrial agreement negotiated and in effect, based on the ruling of the court in the case of Cable Beach [the Melia], there is very little recourse you have pursuant to the industrial agreement that governs the workers.

“You don’t have any provision in legislation to ensure that when the industrial agreement expires, the terms continue. You do have it in some agreements,

but it’s not statutory,” Mr Ferguson added.

“The hotel industry and others, but predominantly the hotels, want to revert back to the old terms and conditions prior to the industrial agreement.”

Mr Ferguson accused the Government of making “one big splash” in suggesting they were going to undertake the reforms demanded by the unions, but it has yet to act.

“I again call on the Government to move quickly to get this resolved,” he told Tribune Business, “otherwise you will end up with a very frustrated industry, which in my opinion is not good for tourism.”

The One & Only Ocean Club situation is also likely to spark renewed union calls for progress on other reform desires, especially the proposed ‘60-day notice period’ that employers must give government and bargaining agents whenever they plan to make 10 or more workers redundant.

In the One & Only Ocean Club’s case, the union was only notified on the day of the terminations, while the Government was warned on Friday.

FNM deputy hoping no deeper concerns behind Ocean Club

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

The FNM’s deputy leader “hopes and trusts” that yesterday’s 61 staff terminations at the One & Only Ocean Club do not reflect any deeper concerns with the property and the Bahamas as a destination.

K P Turnquest told Tribune Business that the highend, Paradise Island-based boutique resort’s actions “don’t say a lot for the tourism sector at the moment”.

Suggesting that this would minimise at least some of the impact from the 1,500 hirings expected from the prospective new Baha Mar owner, Mr Turnquest said the timing of the terminations was especially “traumatic” given the approaching Christmas

Terminations ‘traumatic’ with Xmas approaching season.

“I think any lay-offs are a concern, and the ones you are talking about are significant,” Mr Turnquest said, involving about 15 per cent of the One & Only Ocean Club’s estimated 350 staff.

“It will certainly have an effect on the overall jobless rate and the economy as we consider the downstream effects of this. The economy is soft, and replacing those jobs is unlikely to be as easy as hoped.”

The One & Only Ocean Club appears to have decided to use its closure for Hurricane Matthew-

related repairs as an opportune time to terminate under-performing staff, who it believes were failing to deliver the required guest experience and service, resulting in visitor complaints (see articles on Page 1B).

“Overall, the One & Only Ocean Club is a blue chip property, one of the premier properties we have promoted, and something we can be very proud of,” Mr Turnquest told Tribune Business.

“Hopefully, this is a temporary situation and they will be able to re-engage those individuals in short order. One has to certainly look into the details behind it.

“I don’t know what has prompted these lay-offs, but I hope and trust it’s not a reflection of the attitude

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From pg B2 want to differentiate ourselves by delivering leadingedge products and services to our clients. By investing in technology we aim to make it easier for our clients to do business with us in an innovative way, and at their convenience”.

The RBC Mobile Banking app is available to clients enrolled in RBC’s

Royal Online Banking Service. It can be downloaded free from the Google Play or Apple App store.

RBC earlier this year launched the Android version of the Mobile Banking app in Trinidad & Tobago, the Dutch Caribbean and the Eastern Caribbean.

More than 10,000 clients have downloaded the app there since.

NOTICE

NOTICE is hereby given that JEAN LEGRAND CENAtus of Martin Town, Eight Mile Rock, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division

2016/CLE/qui/No. 971

IN THE MATTER of The Quieting Titles Act, 1959 AND IN THE MATTER OF ALL THOSE certain lots pieces or parcels of land being Lots Numbered Eleven (11) and Twelve (12) in Block Numbered One hundred and Sixtyfive (165) of a Subdivision known as “Nassau Village” in the Eastern District of the Island of New Providence ABUTTING and BOUNDING in the said Block towards the NORTH by Lots Numbered Nine (9) and Ten (10) and running thereon Sixty-three and Ninety hundredths (63.90) feet towards the EAST by Lot Numbered Thirteen (13) and running thereon One hundred and One and Eighteen hundredths (101.18) feet towards the SOUTH by a Public Road known as Joseph Avenue and running thereon Sixty-one and Eight hundredths (61.08) feet and towards the WEST by a portion of a Subdivision known as “Pinewood Gardens” and running thereon One hundred and Three and Eighty-five hundredths (103.85) feet or however else the same may ABUT and BOUND AND

IN THE MATTER of the Petition of NICOLA (a.k.a. NICOLE) MONIQUE JOHNSON

N O T I C E THE PETITION OF Nicola (a.k.a Nicole) Monique Johnson in respect of: ALL THOSE certain lots pieces or parcels of land being Lots Numbered Eleven (11) and Twelve (12) in Block Numbered One hundred and Sixty-five (165) of a Subdivision known as “Nassau Village” in the Eastern District of the Island of New Providence ABUTTING and BOUNDING in the said Block towards the NORTH

by Lots Numbered Nine (9) and Ten (10) and running thereon Sixty-three and Ninety hundredths (63.90) feet towards the EAST by Lot Numbered Thirteen (13) and running thereon One hundred and One and Eighteen hundredths (101.18) feet towards the SOUTH by a Public Road known as Joseph Avenue and running thereon Sixty-one and Eight hundredths (61.08) feet and towards the WEST by a portion of a Subdivision known as “Pinewood Gardens” and running thereon One hundred and Three and Eighty-five hundredths (103.85) feet or however else the same may ABUT and BOUND Nicola (a.k.a Nicole) Monique Johnson claims to be the owner in fee simple in possession of the aforementioned land and has made application to the Supreme Court of the Commonwealth of The Bahamas under Section Three (3) of the Quieting Titles Act, 1959 to have her title to the said land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act. Copies of the Petition and Plan of the said land may be inspected during normal office hours in the following places:

Minimum Requirements & Qualifications:

PLEASE SUBMIT BEFORE December 9th, 2016 to:

to the property and destination itself.”

Acknowledging that the One & Only Ocean Club needed to effect repairs, Mr Turnquest said the timing of the terminations was especially painful - both for the impacted employees and their families, and the wider Bahamian economy.

“Whenever you go into a holiday season with job losses, it is especially troubling, not only for the families but the overall economy,” he told Tribune Business, “as individuals are less likely to spend disposable income.

“That has a major impact for retailers during this critical season.”

RBC launches new mobile banking app

1.

2.

ABSOLUTELY NO PHONE CALLS

A competitive compensation package will be commensurate with relevant experience and qualification. Fidelity appreciates your interest, however, only those applicants short listed will be contacted.

The Registry of the Supreme Court, East Street in the City of Nassau, Bahamas; and The Chambers of Lockhart & Co., No. 35 Buen Retiro Road, Off Shirley Street, Nassau, Bahamas.

NOTICE is hereby given that any person having dower or right to dower or an Adverse Claim or a claim not recognized in the Petition shall on or before the expiration of Thirty (30) days after the final publication of these presents, file in the Registry of the Supreme Court and serve on the Petitioner or the undersigned a Statement of his Claim in the prescribed form verified by an Affidavit to be filed therewith. Failure of any such person to file and serve a Statement of his Claim on or before the expiration of Thirty (30) days after the final publication of these presents shall operate as a bar to such claim.

LOCKHART & CO. CHAMBERS 35 BUEN RETIRO ROAD OFF SHIRLEY STREET NASSAU, BAHAMAS Attorneys for the Petitioner

PAGE 6, Wednesday, December 7, 2016

Union: Ocean Club blindsided, misled us on terminations From pg B1 terminations, Mr Woods said it was now impossible to trust One & Only Ocean Club management and take what they said “at face value”.

He added that the terminations had occurred when both the resort and hotel union were awaiting a Supreme Court verdict dealing with several of the issues raised yesterday, plus the injunction that bars union executives from coming on resort property.

Mr Woods accused the hotel, which is operated by Kerzner International’s One & Only brand, of “testing us” and adopting the same hostile attitude towards the union as the Melia Nassau Beach Resort.

But, while acknowledging the “tremendous blow” that has been delivered to the terminated employees just weeks before Christmas, Mr Woods suggested that no industrial action against the One & Only Ocean Club was imminent.

He explained that the union wanted to first consult its attorneys, and find out the resort’s rationale for the terminations, before deciding its next move.

Still, Mr Woods made plain the union’s unhappiness with both the ‘lack of notice’ by the resort and the seeming breach of management’s previous assurances on jobs.

“We just got a note this morning that they have moved to terminations, and we’re trying to find out what’s going on,” Mr Woods told Tribune Business.

“They brought a letter at 10 am, sending it via one of the management personnel this morning. There’s no reasoning, no nothing. They just said there was a termination exercise. Some of the [union] officers are up there now, and we have to wait for them to come back to ascertain what is going on.”

Given that the One & Only Ocean Club, which is currently closed for repairs and renovations post-Hurricane Matthew, employed

350 staff, yesterday’s termination amount to the lay-off of around one in six staff between 15-17 per cent.

Ashley McBain, spokesperson for Kerzner International, explained the terminations thus: “We continue to ensure we have the best team in place to deliver a true One & Only experience, constantly evaluating the performance of our team members and their capabilities.

“At this time, we are reorganising our structure and redefining job descriptions across the resort, which has resulted in a necessary turnover of about 60 positions, which will ensure a streamlining of the guest experience.”

Reading ‘between the lines’ of Ms McBain’s statement, it appears that Kerzner International and One & Only management have decided to follow Sandals’ lead in using the closure to prune their workforce and remove under-performing staff.

The statement implies that the guest experience and service levels have not been ‘up to par’ for the five/ six-star property that is the One & Only Ocean Club, something that was confirmed yesterday by Shane Gibson, minister of labour

and national insurance, who said management had spoken of visitor complaints.

Robert Farquharson, the director of labour, indicated that the One & Only Ocean Club would seek to fill the terminated posts in time for its February 2017 re-opening, but with new workers - not those released. This would mirror Sandals’ actions this summer over the re-staffing of its Royal Bahamian property.

Disclosing that the Department of Labour had been informed of the terminations on Friday, Mr Farquharson said: “They would have made 61 persons redundant, and they would expect that when they begin the process of reopening these persons would be considered, similar to what happened at Sandals, we have been advised.

“Right now they don’t need that large amount of people because they are going into major construction, and repairing damages brought on as a result of the hurricane. They would have contacted us formally, pursuant to the Code of Industrial Practice, on Friday of last week.

“They would have met with Minister Gibson on Monday, and I think that they would have been in

THE TRIBUNE

contact with the hotel union to make sure that those employees have been paid any entitlements, and ensure that the law is not violated as it relates to those persons.”

Mr Woods, though, accused the One & Only Ocean Club of reneging on previous assurances that there would be no impact to jobs during the property’s post-Matthew renovation period.

“We would have met with them [management] shortly after the hurricane at the end of October to talk about how employees would be engaged, when they could come back, and what’s going to happen,” he told Tribune Business.

“We asked a specific question: Are there going to be job losses? We were told

by Mr Conway, the general manager, that there would be no reduction in the number of jobs.”

Mr Woods said staff were due to return in January for a February re-opening around Valentine’s Day, but added of yesterday’s events: “It means whatever they say to you, you cannot take at face value.”

He added that the union needed to first understand the reasons for the One & Only Ocean Club’s action before determining its next move.

BPL ‘more ambitious’ than Govt with 20% renewables in 5 years From pg B1 cent of the Bahamas’ energy needs generated from renewable sources by 2030.

“The Government of the Bahamas recognises affordable energy as the single most important factor to investment, entrepreneurship and ownership,” the Deputy Prime Minister said.

“For this reason we have done so much to transform our energy sector. Last year, we passed a compendium of Bills through the Parliament to provide the legislative base of a solution that allows for significant reductions in the cost of energy, creates a financially healthy electrical utility company, and facilitates energy security.

“It also provides for improved reliability of service, more responsible environmental attention and, ultimately, increases our competitiveness and marketability as a country.”

Mr Davis said the Electricity Act 2015, and the Utilities Regulation and Competition Authority (URCA) Amendment Act 2015, were all designed to work in concert to achieve the Government’s objective.

Acknowledging that stateowned BPL is “fiscally challenged”, Mr Davis said the

legislative initiatives taken by the Christie administration have laid the foundation for change at the energy provider.

“The requirements for change include raising monies through private sources without a government guarantee, bringing a world class operator to operate BPL, modernisation of the equipment and instituting 30 per cent renewable energy under the National Energy Policy by 2030,” Mr Davis said.

“In fact, the business plan of BPL is even more ambitious, providing for as much as 20 per cent generation through renewable energy in five years.”

He added: “All this is to be financed though the instrument of rate reduction bonds. The rate reduction bond concept has proven successful for the airport, and we look forward to the same gains in electricity. In due course we plan to advance this concept to water and wastewater.”

Mr Davis not go into detail on the RRB, but some light was shed by Mr Bhatnagar, who played a key role in the energy reform process.

Posing a question to a panel at yesterday’s conference, he confirmed that the

PUBLIC NOTICE

Deputy Prime Minister Philip ‘Brave’ Davis cost of financing the RRB would be passed on to consumers.

“The financing cost will be passed on to the consumer. It hasn’t happened yet, but I’m sure that in due course the hotel sector and consumers will really be questioning about the high rise in the cost of energy,” said Mr Bhatnagar.

The RRB is intended to both repay BEC’s legacy debts and move the new ones off its - and the Government’s - balance sheet, while also taking care of

unfunded pension liabilities and environmental clean-up.

“The entire business plan for BPL is somewhat depending on the bond,” one source intimately familiar with the proposed financial restructuring, and speaking on condition of anonymity, told Tribune Business However, Tribune Business sources have suggested that the RRB may not be placed with local and international capital markets investors until 2018 - further hindering efforts to save BPL.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, DIAMOND CHANELL MOSS of Ambergris Street, Nassau, Bahamas intend to change my name to DIAMOND CHANELL MOSSHANNA. 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 the publication of this notice.

The Public is hereby advised that I, MERRYTHA MARIE INNOCENT of 14904 Gentilly Place, Tampa, Fla. 33624, USA., intend to change my name to MARIE INNOCENT. 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 the publication of this notice.

This newspaper was told that the delays are tied to efforts to obtain a ‘rating’ for the RRB from international credit rating agencies - something essential to fostering investor confidence in the bonds it will issue, and in obtaining the best possible price (interest) rate from the markets.

Tribune Business understands that the rating agencies want the special purpose vehicle (SPV) that will issue the bonds to establish some

“I don’t know what their thinking is,” Mr Woods said of the boutique property.

“Once our attorney, Harvey Tynes, looks at it we’ll go from there.

“We still need to meet with the company and find out their thinking and the route they’re taking, and why we’ve arrived at where we are. The next couple of weeks are going to be interesting.”

Mr Woods also appeared to question whether pressure from the terminations had come from Kerzner International or the Ocean Club’s owner, Access Industries, the conglomerate owned by billionaire Len Blavatnik.

“We’ve got to know who we’re fighting,” he added.

“We can’t fight blind. I don’t want to fight Harry when there’s Charlie behind him.

“We’re waiting to get a listing of persons who were let go because we have persons up there who are agency shop or not union members.

I know that the president would have spoken to the human resources department, who indicated that they would try to arrange a meeting for tomorrow but certainly before the end of the week.” credibility/history behind it before they will rate it.

Establishing such credibility will, crucially, require the SPV to collect the portion of customer tariffs assigned to it to service repayment of the interest to investors.

To ‘bridge the gap’ between now and the RRB issue, the Government, together with BPL’s Board and PowerSecure, are understood to be in talks with CIBC FirstCaribbean International Bank and Credit Suisse to obtain a ‘bridge financing’ facility to ensure the utility has sufficient capital prior to the RRB’s placement.

The two named institutions are understood to be the front-runners to place the RRB, which was created by legislation passed by Parliament as part of efforts to reform the Bahamian energy sector.

Tribune Business sources, speaking on condition of anonymity, said BPL is seeking $250 million in ‘bridge financing’, but that CIBC and Credit Suisse were currently only prepared to extend $75 million.

Although that latter figure might be increased based on certain terms and conditions, this newspaper was made to understand it will come nowhere near BPL’s target $250 million.

NOTICE

NOTICE is hereby given that EsthEr dorangEs CEnatus of Martin Town, Eight Mile Rock, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of november, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that NELISSA THOMAS of #78 Falcon Cres, Eastern Estates, P.O.Box SB-52247,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 7th day of December, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that RUBY GREEN of #6 Arawak Lane, Freeport, Grand Bahama, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of November, 2016 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, SASHA-KAY-ANN LEADON of Carmichael Road, Nassau, Bahamas intend to change my name to SASHA-KAY-ANN BARRETT. 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 the publication of this notice.

THE TRIBUNE

Wednesday, December 7, 2016, PAGE 7

Bahamas facing $500m climate impact by 2025 From pg B1 “For example, under a low impact scenario, the projected annual costs would be $240 million billion by 2025 (4.2 per cent of 2004 GDP) and $310 million by 2050 (5.3 per cent of 2004 GDP). Costs double under a high impact scenario.”

Suggesting that threats to the Bahamas’ coastline, ecosystem and coastal infrastructure were only “likely to worsen” as a result of climate change, the IDB report emphasised that this nation is “highly vulnerable” to such effects.

“A recent IDB study indicates that the probable flood exposed area in Nassau will expand 8 per cent by 2050 due to the increasing precipitation caused by climate change,” it added.

“Nationally, a one metre SLR (sea level rise) would place 36 per cent of major tourism properties, 38 per cent of airports, 14 per cent of road networks and 90 per cent of sea ports at risk.”

Recalling recent history, the IDB said Hurricane Sandy had inflicted a $702.8 million cost on the Bahamas in 2012, even though this nation largely escaped the worst of the storm.

And, even though Hurricane Joaquin last year impacted just 1.5 per cent of the Bahamas’ total population, it caused $104.8 million in damage by scoring a direct hit on five Family Islands.

“The Bahamas is highly vulnerable to natural hazards, including hurricanes, which put at risk both economic activities and associated public infrastructure concentrated along the coast of New Providence and several of the Family Islands,” the IDB said.

“From 1990 to 2015, the country experienced 15 major hurricanes, affecting 27,000 citizens. Hurricane Sandy, although low intensity, had a total economic cost of $702.8 million (9 per cent of GDP).

“Recently, Hurricane Joaquin, which passed through southern islands

comprising only 1.5 per cent of the total population, destroyed large segments of five islands with total damage estimated at $104.8 million. Damages are exacerbated by inadequately designed infrastructure non-compliant to building codes.”

With 80 per cent of Bahamian land just one metre above sea level, and spread out over a 668,000 square kilometre territory, the IDB report acknowledged that combating climate change’s impact will not be easy.

For that reason, it is concentrating $20 million of the project’s funding - the bulk of the monies - on “four priority sites”, where it will “reconstruct critical public infrastructure” and develop engineering solutions to stabilise the shoreline and control flooding.

These areas are Nassau and New Providence; Eleuthera’s Glass Window Bridge; central Long Island and east Grand Bahama.

“The coastal and marine environment not only dominates the landscape of the Bahamas, it is also a critical component of the economy and Bahamian identity,” the IDB said, pointing to how heavily dependent the tourism industry is on its continued stability.

“Nassau, a major port of call, received over 4.7 million passengers in 2015, many attracted by the coast’s scenic quality and recreational attractions,” the IDB added.

“An estimated $1.8 billion of direct tourist revenues were generated in 2015, with a total economic impact of $4.1 billion (46.9 per cent of GDP). Tourism accounted for 55,500 jobs directly in 2015 (28.9 per cent of total employment).

“The tourism sector’s potential future growth rests predominately on the uniqueness and health of the archipelago’s coastal resources.”

Describing the Bahamas’ coastal and marine resources, and their ecosystems, as this nation’s “natural capi-

tal”, the IDB said the likes of reefs, mangroves and wetlands were key barriers to storm surges and flooding.

“Beyond tourism’s economic impact, the Bahamas’ coastal and marine ecosystems provide other benefits that have value to human well-being (ecosystem services) but are not easily monetised, such as coastal protection, carbon sequestration and cultural values,” the report added.

“A study in Andros found that implementation of a plan leveraging ecosystem services to fill development gaps could reduce the length of shoreline at risk from erosion and flooding by 20 per cent.”

The IDB continued: “The loss of natural capital in the coastal zone exacerbates the archipelago’s overall environmental and socioeconomic vulnerability.

“While information on the Bahamas’ natural capital is limited, there is evidence of declining trends and increasing threats. For example, Bahamian reefs have less live coral cover on average than other Caribbean island reefs.

“Mangrove wetlands of the Bahamas are threatened by land conversion for development, and because they are not fully protected by law. Data on beach stability are collected sporadically and not reliable.”

While the Bahamas had the necessary legislation in place to facilitate the project, the IDB warned: “The implementation of the regulatory framework for Environmental Impact Assessment and ensuring sustainability of public works is limited, including policies related to consultation and access to information.”

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PAGE 8, Wednesday, December 7, 2016

Nassau port operator mulls $65m Haiti bid From pg B1 a $65 million redevelopment of Cap Haitien Port,” he explained in an e-mailed reply to Tribune Business’s questions.

“Haiti’s National Port Authority (APN), with the assistance of the World Bank’s investment division, IFC, have undertaken a Terminal Operation RFQ/ RFP for Cap Haitien port.

“APD is undertaking a business analysis of the Cap Haitien terminal operation to determine if the project makes sense to us. If APD determines the project has potential, we would partner with a large global port op-

erator in an effort to minimise risk.”

Mr Maura was speaking after APD’s 2016 annual report confirmed that it “has and will continue to pursue new business opportunities within and outside the Bahamas”.

He explained that while becoming involved with Family Island port operations would add little to APD’s ‘bottom line’ and shareholder returns, the company had a “responsibility” to support the Bahamian maritime industry’s expansion.

The greater financial rewards, Mr Maura added,

would stem from APD’s expansion into the Caribbean, where there were numerous ports with similar cargo throughput volumes to its Arawak Cay operation.

And the extra profitability would help to diversify APD away from near total reliance on its existing port, generating additional income streams that may “mitigate” against future tariff increases for Nassaubased businesses and consumers.

“The cargo volumes of ports within the Bahamas Family Islands are small and will have little impact on our profit growth,” Mr Maura said.

“We, however, feel we have a responsibility to support our country’s maritime port expansion efforts and

therefore we will continue to inquire of Government if such assistance is needed.

“As for our interest in Caribbean ports, it is primarily based on the fact that there are a number of ports throughout the region with volumes close to that of NCP. These ports would provide APD with material financial benefits and help to potentially mitigate future NCP tariff increases.”

APD’s annual report confirms that it this year offered to help the Government manage key Nassau and Family Island ports, especially Potter’s Cay, Prince George Wharf and Marsh Harbour.

“We have recently been invited to submit proposals in this connection,” APD said. “We have not

THE TRIBUNE

Arawak Port Development yet received word regarding Prince George Wharf.

“In the case of Marsh Harbour Port, APD may be asked to assist with the implementation of the NAVIS

port terminal operating system. The addition of the NAVIS software at the Marsh Harbour port would assist Bahamas Customs and the Ministry of Finance with their border control responsibility.”

Commenting on the status of these proposals, Mr Maura said: “We have only just written to government indicating our interest, and have very recently been invited to submit a proposal.

We are travelling to Haiti this coming week, and will begin work on these possibilities in early January.”

APD also revealed that last year it pursued achieving the designation of a ‘Recognised Security Organisation’ or RSO, “but following a three-month application process and the submission of the required material, APD was advised by the Port Department that the application was not approved” with no explanation given.

Elsewhere, Mr Maura confirmed that APD was currently applying to obtain land for a secondary Customs inspection facility at the Arawak Cay port.

“We are presently in the process of applying to the Department of Lands & Surveys for the land,” he said. If our application is approved we would expect the facility to be available in approximately a year.

“It would be located on property presently adjacent to the port but, if approved, the land would become part of the port.”

In unveiling the plan, APD’s annual report said: “APD will consider modifications to the Nassau Container Port in an effort to continue its partnership with contraband interdiction efforts.

“A Customs secondary inspection facility is contemplated which will allow Customs to conduct examinations on port property, prior to permitting the container to depart the Nassau Container Port.

“This facility will directly work to mitigate the trafficking of weapons, currency and drugs entering our country.”

Mr Maura, meanwhile, explained that APD was pushing for a Value-Added Tax (VAT) ‘zero rating’ on all port and carrier services supplied to international cargo firms to prevent importers from being ‘double taxed’.

“If importers are assessed 7.5 per cent VAT on international shipping services by the ocean carriers, these carriers will increase their rates on all imports and exports,” he said.

“As it stands today, the importer is charged 7.5 per cent VAT by Customs at the time the Customs Entry is paid. Customs is assessing VAT on the value of the imported goods and the ocean transportation services noted on the bill of lading.

If the process remains as is, and the ocean carriers are required to charge 7.5 per cent VAT, the importer will be charged twice (once by Customs and once by the carrier), and the carrier will also increase their ocean freight rates to address the administrative burden.

“The significance of the zero-rating allows the carriers to claim their VAT expense and receive a refund, while not assessing 7.5 per cent VAT on their customers and leaving the assessment of VAT to Customs as part of the Customs entry payment.”

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