12302020 BUSINESS

business@tribunemedia.net

WEDNESDAY, DECEMBER 30, 2020

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MARLON JOHNSON

Govt targets end March for COVID expenditure halt

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE government is predicting that it will be able to end all COVID19 assistance initiatives by end-March 2021 - a forecast that a top official yesterday admitted is “fraught with risk”.

Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribune Business that while the government is “cautiously optimistic” that the pandemic’s threat is on “a downward trend” there are multiple uncertainties that could throw economic and fiscal forecasts badly off-course.

He conceded that current estimates and predictions were among the most difficult the Ministry of Finance has ever had to make, after Tribune Business spotted a little-noticed line in the recently-tabled fiscal strategy report showing the government hopes to stop financing mass COVIDrelated unemployment benefits, food assistance and various business support by the 2021 first quarter end.

“The key elements of the medium-term forecasts are government’s commitment to reductions in subventions to state-owned enterprises (SOEs) through a programme of activities aimed at making these entities more self-sufficient and efficient,” the report says.

“The forecasts also reflect the cost savings emanating from the cessation of the special expenditures associated with Hurricane Dorian by end-June 2021, and COVID-19 by endMarch 2021.”

Many observers will likely argue that ending all forms of COVID-19 support by end-March 2021 will be extremely difficult, if not impossible, due to the pandemic’s devastating economic impact, and Mr Johnson said: “That’s our projection. It’s just that.

“Our hope is that we’re on the downward trend, but there’s a great deal of uncertainty around that, as I have said and the minister [Kwasi Thompson] has said.

COVID-19 determines ultimately what happens and it’s part of the uncertainty built into our forecasts.

“There’s a great deal of unknowns. If things are favourable we could be substantially past it by then [end of March], but it will in large part be dictated by what’s happening with the pandemic going forward, as in other jurisdictions,” the acting financial secretary continued.

“There are a number of dynamics to the situation that make forecasting fraught with risk. I don’t think any of us know what will be happening in March 2021 with COVID-19.

We’re hopeful with the vaccine that it will wind down and be brought down.

We remain cautiously optimistic.”

The government had spent a total $177.3m on various forms of COVID19 assistance, including NIB and Treasury-funded unemployment benefits; the tax

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‘They’ll do anything to harm my name’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

SKY Bahamas’ former principal says efforts by the airline’s main financier to discredit him by instigating police probes in The Bahamas and US “shows the lengths they will go to damage my name”.

Captain Randy Butler told Tribune Business that Fred Kaiser needed to “come head on with the facts” in court after it emerged the businessman has sought police investigations in both countries to determine the fate of Sky Bahamas’ planes and aircraft engines said to be worth “millions of dollars”.

Mr Kaiser, who is alleging that Captain Butler and former deputy prime minister, K Peter Turnquest, “conspired” to defraud him

A FERRY provider’s extended wait for the government to approve the relaunch of its Grand Bahama service was yesterday branded “crazy” and “embarrassing” by its local representative.

James Turner told Tribune Business that Freeport entrepreneurs, and efforts to restart the island’s tourism economy, were both suffering due to the near two-month wait for the government to complete its “evaluation” of Baleària Caribbean’s bid to resume sailing from Fort Lauderdale.

Disclosing that he has not received an explanation todate from the competent authority (Prime Minister’s Office) as to the reasons for the delay, Mr Turner said he had “taken a break” for Christmas before resuming his efforts to obtain the

JOE DARVILLE

Activists seeking to add Town Planning • Ex-Sky chief hits out at airline’s former financier to oil drilling battle • Kaiser instigates police probes into planes’ fate By NEIL HARTNELL Business Editor • Says Sky ‘insolvent long ago’ without his funds Tribune nhartnell@tribunemedia.net

CAPT RANDY BUTLER

FRED KAISER

of almost $28m via so-called “sham loans” made to Sky Bahamas and its affiliates, claims he and his companies own the planes and engines which had only been leased to the airline.

Both Mr Turnquest and Mr Butler have vehemently denied the “sham loan” allegations, and the former was neither named as a defendant in that action nor has

was US citizens who came over to the island on day fishing trips and interacted heavily with locals.

And, with Paradise Cruise Line still prohibited from sailing by US health authorities’ demands and curbs on the wider cruise industry, Mr Turner said Baleària Caribbean’s wait for approvals meant Grand Bahama’s two main sources of visitor arrivals - with airlift still negligible remained totally cut-off.

“It’s been a hell of a dilemma and I’ll tell you why,” Mr Turner told this newspaper. “The borders have been officially open to new traffic from November 1. We’ve had flights coming

OIL exploration opponents yesterday sought the Supreme Court’s approval to add the Town Planning Committee as a “fourth respondent” in their challenge to Bahamas Petroleum Company’s (BPC) drilling.

Waterkeepers Bahamas and the Coalition to Protect Clifton Bay, in moving to amend their initial Judicial Review action, argued that the planning regulator should be added because it has failed to order BPC to cease it activities in waters 90 miles west of Andros given the seeming absence of site plan approval.

Joe Darville, a director of both environmental groups, alleged in a December 29, 2020, affidavit that the Town Planning Committee is required by law to halt any projects that breach the planning laws - as he and his fellow activists claim BPC has done.

The oil explorer and its attorneys have argued that laws such as the Planning and Subdivision Act, from which the Town Planning Committee derives much of its authority, and the Conservation and Protection of the Physical Landscape of The Bahamas Act, do not apply to its project as they only cover land-based activities - not offshore oil drilling.

The activists, though, are disputing this and alleging that there has been a failure to grant site plan approvals and hold public consultation as required by the Act in relation to BPC’s project.

While yesterday’s Supreme Court hearing on the Judicial Review challenge was adjourned until today, Mr Darville also picked up on the inconsistencies between BPC’s Environmental Impact

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been linked to the investigation into the planes and engines. Captain Butler, meanwhile, told this newspaper he also rejected any claims of wrongdoing related to the police probes into the whereabouts of Sky Bahamas’ former aircraft.

Tribune Business understands the US inquiry was begun before its Bahamian counterpart, and no findings or charges have yet been laid. The Sky Bahamas chief voiced surprise when contacted about the probe and nature of the investigation.

“That’s amazing. All I can say is wow,” Captain Butler

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GB ferry provider in ‘crazy’ approval wait

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

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• Competent Authority still ‘evaluating’ Balearia relaunch • Delay hitting tourism revival, Dorian reconstruction • Local representative: Delay is ‘hell of a dilemma’ necessary approvals.

Baleària Caribbean had initially planned to resume sailing to Grand Bahama from its Fort Lauderdale base on November 5, but the protracted wait for The Bahamas to give the goahead meant it was now incurring significant unnecessary expenses to keep recalled crew and the vessel in a near two-month holding pattern.

Mr Turner said the ferry’s seating, social distancing and other COVID-19 health-related protocols had all been assessed by Bahamian health personnel and other government officials, who had raised no objections or concerns, thus leaving Baleària Caribbean mystified as to the

wait for approval.

Bahamian passengers returning from trips to Florida via the ferry were previously identified as a major source of this nation’s COVID-19 “second wave”, which began in July, and this - together with the government’s repeated warnings that citizens and residents should still refrain from non-essential travel - could help to explain the competent authority’s reticence.

Mr Turner, though, said there was “no empirical data” to support the theory that Bahamians returning via the ferry to Grand Bahama were the primary cause of the second COVID-19 surge.

He argued that a likely source

Union: Up to 50 member jobs lost at Ocean Club

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE hotel union’s president yesterday said “about 50” of his members are likely to be terminated by the Ocean Club as the resort right-sizes ahead of dismal occupancy levels forecast for the New Year.

Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) president, told Tribune Business the Four Seasons-branded Paradise Island resort had informed it just prior to Christmas that it was anticipating occupancy levels of just 25 percent “going well into the New Year”.

John Conway, the Ocean Club’s general manager, was said to not be at work yesterday and was unavailable for comment, but Mr Woods said the number of permanent terminations would be more than 50 as managerial posts were likely to be impacted too.

The terminations, which are taking place even though the Employment Act’s redundancy provisions are suspended due to the

• Warns total losses more with managers • Says resort indicated just 25% occupancy • Labour chief confirms termination plans

OCEAN CLUB BAHAMAS government’s COVID-19 emergency powers regulations in a bid to preserve jobs, were confirmed by John Pinder, director of labour, who said the resort had informed the government as required by law.

Mr Woods, who said Atlantis was the only unionised hotel yet to terminate significant numbers of workers in COVID-19’s wake, said of the Ocean Club’s move: “We’re on top of that. They had sent us a

note, and we’re now trying to get the amount of persons, their names and their entitlements.

“We got the note just before the holidays, and they were to follow up with communications to those

persons affected so they know what their entitlements are. It’s apparently taking effect today. They said they have to move immediately.”

Mr Woods said the Ocean Club, which is owned by Access Industries, the conglomerate controlled by Ukrainian-born billionaire Len Blavatnik, had “indicated they are going to move ahead with” the redundancies despite the government’s suspension of Employment Act provisions giving them the option of furloughing staff temporarily.

“It’s not limited to one department,” the hotel union chief added. “It’s a mixture of managers and employees. We won’t know how many managers, but we’re looking at about 50 persons from the bargaining unit.

“They’ve [the Ocean Club] indicated that because of COVID-19 they will not be able to sustain the amount of employees they have as they’re forecasting about 25 percent occupancies going well into the New

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THE TRIBUNE

Wednesday, December 30, 2020, PAGE 3

COMPASS POINT MANAGER HITS ‘DISCRIMINATORY’ COVID DINING

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A HOTEL manager yesterday slammed the “discriminatory” provisions requiring Bahamians and residents to obtain a negative COVID-19 test before they can dine indoors at a local resort.

Philip Smith, the Compass Point Resort’s general manager, told Tribune Business that the latest changes to the government’s emergency powers will likely force locals to eat outside while visitors can sit inside to dine.

He added: “Especially on a day like yesterday, people were wanting to sit inside because it’s rainy and gloomy. Then Bahamians are seeing another group of folks coming into the restaurant to dine.”

The Prime Minister’s Office, over the Christmas holiday, further adjusted restrictions on Bahamians and residents patronising local hotels if they are not a guest at that particular property.

Anxious to preserve the so-called “vacation bubbles” at these resorts, Dr Hubert Minnis and his team clarified that locals can visit a hotel’s “outdoor” facilities without first producing a negative COVID-19 test result.

However, those wanting to use a hotel’s “indoor” facilities - such as casinos and restaurants - will have to produce either a negative PCR or antigen test result if they are not an existing guest.

The Ministry of Tourism and Aviation, in a subsequent statement, said the changes were designed to protect the tourism industry from a potential surge in COVID-19 cases just as it was starting to re-open.

Explaining that the changes were intended to “safeguard the use of hotels by all persons, and to mitigate any negative impact the coronavirus may have on this critical component of our tourism sector”, the ministry added: “As such, all persons wishing to stay in a hotel in either New Providence or Grand Bahama must be in possession of a RT-PCR test or a rapid antigen test, with a negative result, prior to check in.

“Since all travellers entering The Bahamas from another country are required to be in possession

of an RT-PCR test prior to arrival, they will, with the presentation of a valid Bahamas Health Travel Visa, automatically fulfill this requirement.

“In addition, since all travellers are required to complete a rapid antigen test on the fifth day of their return to The Bahamas that, too, will automatically extend their ability to visit hotels and their related facilities,” the Ministry of Tourism continued.

“For persons wishing to use hotels and their related facilities who have not recently travelled, they must obtain a RT-PCR test or less expensive rapid antigen test to access the property.

“If access to a hotel’s outdoor facility, such as a restaurant or the beach or a golf course, can be achieved without entering the hotel, no test is required. In these particular instances, observing the usual health protocols (wear a mask, sanitise your hands and keep six feet away from anyone who is not in your party) are expected.”

Mr Smith, though, said Compass Point had few tourists over the Christmas holiday weekend and the restaurant’s dining space could have been occupied

by Bahamians. “People aren’t travelling,” he added. “We’ve gotten a lot of postponements and cancellations. So managing the crowds is not a huge problem for us.

“Okay, we’ve got a large a large outdoor dining space, which essentially makes it not as bad, but people prefer to sit outside than inside. It’s covered outside for the most part.

So it’s not a huge issue, except where I could have used the inside, now I’m unable to.”

Mr Smith said it was more “aggravating” to keep up with the constant changes to the COVID19 protocols, the latest of which was changed twice in three days over the Christmas holidays.

“It’s just trying to keep up with the changes that are happening so quickly, and without any notification.

You’re left scrambling. I mean, it’s happened several times before. This is more of the same. I think it’s just difficult to follow either the logic, or to keep up with the changes, as they happen so quickly,” he added.

DIGITAL PROVIDER TARGETS NEW YEAR’S EXPANSION

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A DIGITAL payments provider is aiming to launch wireless transactions, its own digital currency and payment cards in 2021 following the “boost” provided by the COVID-19 pandemic.

Sean Smith, SunCash’s business development manager, told Tribune Business it planned to capitalise on the virus-driven consumer shift to electronic payment transactions by expanding its range of products and services once regulatory approval is received from the Central Bank of The Bahamas.

Disclosing that the Central Bank’s launch of the Bahamian digital dollar, the Sand Dollar, had created further momentum, he said: “The COVID-19, believe it or not, has boosted our business model big time, together with the launch of the Sand Dollar, and now we are doing National Insurance and all of the health [unemployment] benefits for the National Insurance Board. Things have been good for us.”

Mr Smith said the islandwide roll-out of SunCash cards is being targeted for mid-January. He added: “Seventy-five thousand cards are already on the island and ready to be disbursed. You may see persons pay with their SunCash cards and pairing that with their SunCash wallets.

“We’re in the process of integrating with the government right now so that you will be able to pay the

government in terms of Road Traffic and the Passport Office. We have been in the process of doing an integration with them.”

SunCash customers can already withdraw cash from their Super Value check-out accounts, and Mr Smith said: “Along with the roll-out of our cards for early 2021, we are also waiting for confirmation from the Central Bank for our cryptocurrency to roll out next year, too.

“We have a POS (point of sale) system that is able to accept everything, because right now..... Let’s say you go to the food store. You say you’ll pay with a credit card.

The only thing you could do [to pay] is just run it right across to the magnetic swipe.

“So we are coming up with a device that, instead of just running it across the magnetic swipe, you’ll be able to tap, which is NFC (near field communication). You’ll be able to scan the QR code, similar to the check-out device,” he explained.

“So you’ll be able to scan it across. You’ll be able to swipe it across. You’d be able to tap. You’ll be able to scan the QR code in terms of being able to make the payment, so top swipe or scan, and you could even type it in manually if you want to.”

Mr Smith said the provider will also offer a wireless solution for roadside vendors. This will allow them to accept SunCash dollars from anywhere in The

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Hotels warn over ‘vaccine paralysis’

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A FAMILY Island hotelier yesterday said Christmas business volumes were “off 50 percent” at his property as he voiced fears that “vaccination paralysation” will hit the travel market in early 2021.

Jeff Birch, owner/operator of the Small Hope Bay Lodge in Fresh Creek, Andros, told Tribune Business that “everything” segment at his resort - both hotel accommodations and restaurant - was down by 50 percent over the festive period.

Pessimistic about New Year prospects, with 85 percent of business traditionally originating from the US, Mr Birch said “vaccination paralysation” may result from persons preferring to wait at home for a COVID-19 cure rather than risking early 2021 travel. “Because the vaccine is on the horizon people would prefer to wait to travel,” he added.

“If we don’t have ‘vaccination paralysation’ then we are looking at 30 to 50 percent of what

normal occupancy would have been for February to April. January is dead, but it is usually slow for us anyway, but we are looking for 50 percent off from the normal in the months during February to April.”

Mr Birch said high unemployment and reduced incomes in The Bahamas’ major source markets may also depress travel demand.

He said: “How many families are going to get spring breaks this year, because people are working from home? The Spring time is normal family time, and their travel patterns may shift, so will we even get those families?”

Natajia Miller, general manager of Embrace Resort on Staniel Cay, Exuma, said: “I was fully booked for the Christmas season. We had a lot of last minute bookings. Usually people in Staniel Cay are booking six months or a year out.

“So when people call in October, usually it’s like, sorry, but we’ve been booked out for the last two months for this Christmas season. This year I was a little worried due to the pandemic over the last nine

months because our occupancy was between ten percent and 15 percent.”

Ms Miller said the 15 percent occupancy rate was much better than many other Exuma resorts, and added: “Establishments, like the yacht club that have been around for 60 years, thank God that they have repeat guests that have been coming for generations.”

Embrace Resort has been in business for ten years, and Ms Miller continued: “High-end places have been booming, like some of the high-end properties that are like $2,500 and above, because their clientele is not as affected

by COVID-19 as we are.

These people are people that own yachts and have businesses.

“But for us, I was just praying the whole season.

It is already December 1 and we still have availability; what is this? What’s going on? But now we’re fully booked.”

Ms Miller said Embrace Resort has been pushing visitors to vacation rentals to add additional space, but it still has a “waiting list”. She added: “We are

booked into the New Year, thank God, because Staniel Cay has always been blessed in that way. I think that now everything is much more settled, people know what to expect, and there is better communication now.”

Philip Smith, Compass Point’s general manager, said: “This was a terrible Christmas, for sure. We get a healthy amount of visitors from Europe, as about 12 percent to 15 percent of our guests come from there.

“But a lot of Europe is shutting down. Not only are they shutting down, but when they do reopen, will they be able to travel?

There are some restrictions they have that when they get back home, they have got to then quarantine. So all of this is a deterrent for them.”

Mr Smith said similar restrictions also apply to Canadians, which leaves him with only the Americans who “definitely will come” but not in the numbers he is accustomed to.

He does not expect the presently low tourism arrivals numbers to pick up until late autumn 2021.

PAGE 4, Wednesday, December 30, 2020

DIGITAL PROVIDER TARGETS NEW YEAR’S EXPANSION FROM PAGE THREE Bahamas once provided with a handheld device that allows them to accept payment from one of its card holders.

SunCash has teamed with NIB since April to distribute unemployment benefits, enabling claimants to receive payment through their SunCash wallets or accounts.

SunCash is also an approved payment provider for the Bahamian digital currency, the Sand Dollar.

Mr Smith added: “We have handled about $7m to $8m for NIB flawlessly; we have done that well. We are doing Western Union all online, right from your phone. We could also pay the prison now, so you could send money to your friends in the prison, or family members, or do top-ups for people in the prison. We can do that, too.”

THE TRIBUNE

GB ferry provider in ‘crazy’ approval wait FROM PAGE ONE in, but Baleària were advised to delay.

“The government wanted to review the seating, look at the seating, and make sure no other procedures ought to be put in place before the transfer of passengers. The government officials reviewed it, including Kwasi Thompson [then minister of state for Grand Bahama] and his people, and they had no issue with it.

“The medical team wanted to visit the vessel to see social distancing. After reviewing it, they said everything was fine and they’ll prepare their report and send it to the competent authority, who will give the final OK.”

However, Mr Turner said that after “back and forth” phone calls with Harcourt Brown, the permanent secretary at the Ministry for Grand Bahama, he was told to contact to contact the Prime Minister’s Office (competent authority) in Nassau because no response had been forthcoming.

He reached David Davis, permanent secretary in the Prime Minister’s Office, who said two-and-a-half weeks ago that the Baleària review was “in process with competent authority and we should be hearing shortly”.

However, Mr Turner said that when he again contacted Mr Davis a week before Christmas, he was told the sailing resumption had not been approved. No

explanation was given, he added, when he requested a reason as to why.

“I told him this was ridiculous,” Mr Turner said of his conversation with Mr Davis. He subsequently reached out to Mr Thompson, who said he was unaware Baleària was still waiting for its approvals and promised to get back to him but never did.

Baleària’s Bahamas representative eventually received a letter saying the ferry service restart was still being “evaluated” by the government. “I said to Mr Brown: ‘This is a bit of nonsense’,” Mr Turner recalled.

“We were fighting for this from November. We knew the ship wanted to sail for Thanksgiving. That didn’t happen. We were

fighting for the first week of November. That didn’t happen. This is crazy. The reality is the social distancing that occurs on the Baleària does not take place on an aircraft.”

He revealed the the 500seat ferry had not expected to resume sailing with more than 50 passengers, and that its occupancy would be limited to 20 percent or 100 persons during the initial restart.

“Quite frankly, as a Bahamian businessman I find it embarrassing,” Mr Turner told Tribune Business. “I told the guys: ‘Just relax; the government moves slow’. They said they’ve missed the Thanksgiving period, and if they get no traction before Christmas that doesn’t make sense.

“They will not take any passengers before next year.

You keep holding on, keeping paying the staff, have everything geared up and yet you keep waiting. You now have folks upset. Why didn’t you tell me earlier, as we could have saved a lot of money.”

Pointing out that Resorts World Bimini is relying on Baleària to be the major source of its guests as the property re-opens, Mr Turner said the ferry’s continued absence was having “a significant impact” on Grand Bahama’s ability to rebound economically from the twin effects of COVID19 and Hurricane Dorian.

With businesses and residents unable to travel via ferry to Florida to purchase construction supplies, he argued that Dorian rebuilding was being hindered.

Travel costs have also increased, Mr Turner added,

with persons having to pay $400 for a round-trip airline ticket - double the Baleària’s $200 - as well as cover cargo shipping costs.

“Mom and Pop” businesses were also incurring extra costs and transportation difficulties, the Baleària representative added, while the loss of Paradise Cruise Line’s services meant Grand Bahama was being deprived of sea visitors - its major source of tourism business.

“Tourism is basically dead,” Mr Turner told Tribune Business. “The ferry has been the transportation franchise for Grand Bahama, but Baleària cannot move passengers and bring people over for a day on the beach.

The government is taking a position that only works to the detriment of tourism for Grand Bahama at a time when it could have advanced. The economic impact all around has simply not been good.”

Mr Turner said it now cost him $700 for a round-trip American Airlines ticket to bring his child home from university in Arizona when, previously, a plane ticket to Florida and ride on the Baleària would have cost a combined $400, thereby saving a significant $300 sum.

He added that if Baleària received the go-ahead from the government imminently it will be able to “ramp up in January, and by February we should be hitting our stride”.

The prime minister’s spokesperson, when contacted by this newspaper, said they would have to look into the Baleària Caribbean situation and call back, but no response was received before press time last night.

DARRIN WOODS

JOHN PINDER

Union: Up to 50 member jobs lost at Ocean Club FROM PAGE ONE Year. They’ll not be able to maintain in terms of employees. This is the latest hotel to do something.”

Mr Woods, estimating that the high-end resort has about 300 staff, acknowledged that the Christmas/ New Year period was among the worst periods for workers to lose their jobs especially with the resort and wider tourism industry starting to re-open following the COVID-19 induced shutdown.

The Ocean Club’s move exposes the ongoing fragility and vulnerability of the hotel/tourism sector as it continues to rebound. The hotel union chief, though, said some terminated workers may be happy to get their severance pay and benefits in a lump sum given that they will likely have been furloughed and only receiving the $100 weekly government unemployment benefits.

Mr Woods also acknowledged that, with thousands of hotel industry workers still waiting to be recalled by other properties, the prospects of the terminated Ocean Club workers quickly

finding jobs elsewhere in the sector were likely to be more limited than normal.

There were suggestions that up to 30 Ocean Club workers received their termination notices yesterday, with more to follow over the rest of the week, as Mr Pinder confirmed that the resort had notified the Department of Labour of its plans in advance.

“We were informed about the terminations. I think they’re supposed to start today [yesterday] or the end of the week,” he said.

“Most of them have to do with the way the guests used to book their private accommodation in villas. The way business will be done in the future, there’s not that same one-on-one touch with the guests that there used to be. That ain’t happening no more.

“They’re [the Ocean Club] not able to maintain that level of staff, so they have to make some persons redundant. Most of those persons are due to retire in any event. Everybody is preparing for what they consider the new normal, and the hotels are readjusting themselves to come back in full force and figure out what they’re going to be.”

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‘They’ll do anything to harm my name’ FROM PAGE ONE

replied.

“Hopefully at this time I can depend on the justice system. These people, who use my name, they have to be willing to stand at that date and account. Make your claim to the relevant agencies, not the newspapers.

“That kind of stuff is stupid to me, all stupid. It’s crazy for people to even put that stuff out there. It tells you what lengths people will go to damage your name. I have to put on my big boy trousers and understand the politics and stuff.

“I understand fully what has been threatened to happen to me by Fred Kaiser and his group saying I will have a death by 1,000 cuts, and they will do anything to discredit me. Fine, go ahead. There’s no need to hide behind things; let’s go head on with the facts. If I stop at every point a dog barks I won’t get to where I’m going.”

Captain Butler argued it was impossible for persons to “pass the title” to aircraft and plane engines they do not own as they all have serial numbers, with ownership recorded and detailed on registries in The Bahamas and other jurisdictions.

He challenged Mr Kaiser, as instigator of the investigations, to come with him to the various registries and identify the various engines and aircraft whose whereabouts the businessman alleges cannot be located.

Documents obtained by Tribune Business show that Mr Kaiser and his attorneys requested an investigation by the Royal Bahamas Police Force into the fate of the now-defunct airline’s engines and planes on June 11, 2020.

Robert Feldman, a USbased aviation attorney acting for Sky Bahamas’ financier, wrote to police commissioner, Paul Rolle, and head of the central detective unit (CDU), Shanta Knowles, seeking the force’s assistance to help locate plane engines he alleged were owned by Mr Kaiser’s entity, Advanced Aviation.

Disclosing that he had acted for the company in purchasing US-based planes that were subsequently leased to Sky Bahamas, Mr Feldman wrote: “My client leased many millions of dollars worth of aircraft and engines to Sky Bahamas and, upon retaking possession of its assets, found that most of the engines were missing.....

“I have learned from Michael Scott, Bahamian counsel for Advanced Aviation, that many of the aircraft have been stripped of their engines and propellers, and that the aircraft carcasses are on the ramp at Lynden Pindling International Airport (LPIA).”

Mr Feldman said the number of engines found

by Mr Kaiser and his agents when they took possession of the maintenance hangar formerly used by Sky Bahamas at LPIA “did not equal the number of aircraft engines that were on the aircraft at the time they were leased to Sky Bahamas”.

Suggesting that no explanation had been provided for this discrepancy, he added: “At all times material they were - and remain - the property of Advanced Aviation. For the engines which were replaced over time, it is evident that there is no replacement engine present at the Sky Bahamas facility for any of them.

“Disposing of

NOTICE INTERNATIONAL BUSINESS COMPANIES ACT, 2000

OCEAN PARTNERS LTD (In Voluntary Liquidation)

NOTICE IS HEREBY GIVEN that in accordance with Section 138 (8) of the International Business Companies Act 2000, as amended, OCEAN PARTNERS LTD has been dissolved and struck off the Register pursuant to a Certificate of Dissolution issued by the Registrar General on the 15th day of December 2020. ________________________ Mid Ocean Consulting Ltd. AP59223 slot 332 Bahamas

expensive engines without replacing them, to the detriment of the owner, in this case Advanced Aviation, is not a practice in the normal course of business........”

Other documents seen

by Tribune Business reveal that the legal battle between Mr Kaiser and his former Sky Bahamas partners began almost 18 months ago, coinciding with when the Bahamas Civil Aviation Authority (BCAA) refused to renew the Air Operator

Certificate (AOC) that was critical to enabling the airline to carry fare-paying customers “because it failed to meet basic staffing requirements”.

With the airline losing a multi-million dollar sum, AOG Maintenance Company, the entity that owned the LPIA hangar and which had come under Mr Kaiser’s control, moved in August 2019 to evict Sky Bahamas on the grounds that it owed some $204,826 in unpaid

Wednesday, December 30, 2020, PAGE 5 rent at the beginning of that month.

Captain Butler and Sky Bahamas, though, successfully counter-attacked in December 2019 by persuading Justice Keith Thompson to bar AOG Maintenance Company from denying it the ability to “access and remove its assets” from the hangar.

The injunction, which was obtained at a hearing where only Sky Bahamas’ attorneys were present, also prevented AOG Maintenance Company “from selling the assets” of Sky Bahamas, “including but not limited to aircraft engines, propellers and gears contained inside the said maintenance hangars”, or interfering with the airline’s business operations.

Mr Kaiser and his agents swiftly sought to overturn the injunction, and were ultimately successful based on Mr Feldman’s letter.

Mr Kaiser, in a January 28, 2020, affidavit asserted

that Sky Bahamas was “a defunct and inoperative” airline, while his Alpha Aviation entity had cancelled the plane leases “for nonpayment of the aircraft hire” by the airline.

“It is not hyperbole to state that without me the plaintiff [Sky Bahamas] would have spiralled into insolvency long ago but, even more significantly, it would never have gotten off the ground,” Mr Kaiser alleged.

“Indeed, I have been the essential banker and money man, and was such for the construction of the aircraft hangar at LPIA and, through Advanced Aviation, I financed the acquisition of the entire fleet of aircraft deployed by Sky Bahamas and which I subsequently leased to it to operate a commercial airline.

“Indeed, I have funded from inception through loans much of the plaintiff’s operational and capital expenses.”

PAGE 8, Wednesday, December 30, 2020

THE TRIBUNE

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

LEGAL NOTICE

NOTICE

NOTICE

Pursuant to the provisions of Section 138 (4) of the International Business Companies Act, (as amended) NOTICE is hereby given that LAREM HOLDINGS LIMITED is in dissolution and the date of commencement of the dissolution is the 29 December 2020.

Pursuant to the provisions of Section 14 of the Investment Condominium Act, NOTICE is hereby given that MORUBIXABA ICON FUND is in dissolution and the date of commencement of the dissolution is the 29 December 2020.

Joycelyn Curry and Lynn Kelly LIQUIDATORS c/o EFG Bank & Trust (Bahamas) Ltd Goodman’s Bay Corporate Centre 3rd Floor, West Bay Street and Sea View Drive P.O. Box CB 10956 Nassau, Bahamas

Joycelyn Curry and Ian Atkins LIQUIDATORS c/o EFG Bank & Trust (Bahamas) Ltd (governing administrator) Goodman’s Bay Corporate Centre 3rd Floor, West Bay Street and Sea View Drive P.O. Box CB 10956 Nassau, Bahamas

LEGAL NOTICE

NOTICE

ELDRED FOUNDATION In Voluntary Liquidation

Pursuant to the provisions of Section 138 (4) of the International Business Companies Act, (as amended) NOTICE is hereby given that CERRO LARGO VENTURES LIMITED is in dissolution and the date of commencement of the dissolution is the 29 December 2020.

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ELDRED FOUNDATION is in dissolution as of December 18th, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

Joycelyn Curry and Ian Atkins LIQUIDATORS c/o EFG Bank & Trust (Bahamas) Ltd Goodman’s Bay Corporate Centre 3rd Floor, West Bay Street and Sea View Drive P.O. Box CB 10956 Nassau, Bahamas

LIQUIDATOR ______________________

MARKET REPORT www.bisxbahamas.com

TUESDAY, 29 DECEMBER 2020

BISX ALL SHARE INDEX:

CLOSE

CHANGE

2088.96

0.07

%CHANGE

YTD

YTD%

0.00 -142.64

-6.39

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

BISX LISTED & TRADED SECURITIES 52WK HI 4.15 33.05 2.00 1.84 2.39 6.00 6.75 4.10 8.01 4.50 6.16 12.77 3.64 6.85 10.88 8.44 15.08 4.25 9.26 15.21

52WK LOW 3.13 22.65 0.67 1.62 1.67 5.00 6.00 2.70 4.75 3.50 5.90 11.06 2.10 4.60 9.60 7.50 13.00 3.25 8.15 14.00

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

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

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00

52WK HI 2.37 4.43 2.13 198.39 176.73 1.69 1.85 1.77 1.24 8.39 10.26 7.23 12.80 12.81 10.81 10.00 8.98 11.79

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.65 1.79 1.75 1.05 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

SYMBOL FBB22 BFHB

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

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407

LAST CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.80 4.75 3.59 5.90 11.26 2.37 6.75 10.27 8.40 13.75 3.94 8.50 15.20

CLOSE 4.15 32.12 1.62 1.84 1.67 6.00 6.61 2.80 4.75 3.59 5.90 11.26 2.40 6.75 10.32 8.40 13.75 3.94 8.50 15.20

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.05 0.00 0.00 0.00 0.00 0.00

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

LAST SALE 100.00 100.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

VOLUME 115

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

50

VOLUME

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

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

NAV 2.37 4.43 2.13 198.36 173.98 1.69 1.79 1.77 1.05 8.39 9.88 7.23 12.33 12.80 10.20 N/A 9.28 11.86

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

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 17.4 34.5 N/M N/M N/M N/M 17.9 -6.4 33.9 19.5 13.1 15.6 23.5 14.5 16.0 11.5 16.9 19.4 9.1 24.1

YIELD 4.10% 3.92% 1.23% 1.63% 0.00% 0.00% 3.93% 0.00% 0.00% 3.34% 3.73% 6.39% 18.08% 0.89% 3.18% 2.86% 3.93% 3.05% 2.35% 4.01%

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%

MATURITY 19-Oct-2022 30-Sep-2025

6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25%

20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022

YTD% 12 MTH% 3.76% 4.43% 1.54% 2.56% 2.12% 2.59% 1.65% 2.39% 4.34% 9.82% 1.65% 1.95% -3.06% -2.22% 0.80% 1.17% -12.30% -11.81% 0.64% 0.98% 1.19% -3.63% 4.20% 5.04% 2.63% 7.68% 3.68% 3.93% -4.89% -4.62% N/A N/A -0.50% 3.70% -3.80% 4.10%

NAV Date 31-Oct-2020 31-Oct-2020 30-Oct-2020 30-Sep-2020 30-Sep-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 31-Oct-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020 30-Sep-2020

YIELD - last 12 month dividends divided by closing price

52wk-Hi - Highest closing price in last 52 weeks

Bid $ - Buying price of Colina and Fidelity

52wk-Low - Lowest closing price in last 52 weeks

Ask $ - Selling price of Colina and fidelity

Previous Close - Previous day's weighted price for daily volume

Last Price - Last traded over-the-counter price

Today's Close - Current day's weighted price for daily volume

Weekly Vol. - Trading volume of the prior week

Change - Change in closing price from day to day

EPS $ - A company's reported earnings per share for the last 12 mths

Daily Vol. - Number of total shares traded today

NAV - Net Asset Value

DIV $ - Dividends per share paid in the last 12 months

N/M - Not Meaningful

NOTICE Pursuant to the provisions of Section 14 of the Investment Condominium Act, NOTICE is hereby given that UCATANG ICON FUND is in dissolution and the date of commencement of the dissolution is the 29 December 2020.

LEGAL NOTICE

NOTICE

LEGAL NOTICE

P/E - Closing price divided by the last 12 month earnings

Joycelyn Curry and Ian Atkins LIQUIDATORS c/o EFG Bank & Trust (Bahamas) Ltd (governing administrator) Goodman’s Bay Corporate Centre 3rd Floor, West Bay Street and Sea View Drive P.O. Box CB 10956 Nassau, Bahamas

NOTICE NOTICE is hereby given that GERRY P.J PIERRE of Gamber Drive, Freeport, 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 22nd day of December 2020 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

NOTICE DAWEL FOUNDATION In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, DAWEL FOUNDATION is in dissolution as of December 18th, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

LIQUIDATOR ______________________ NOTICE CONSENSUALLY INTERNATIONAL LIMITED (In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the above-named Company is in dissolution, which commenced on the 21st day of December, 2020.

The Liquidator is Windermere Corporate Management Limited, East Bay Street, P.O. Box N-7797, Suite A-084, Nassau, Bahamas.

WINDERMERE CORPORATE MANAGEMENT LIMITED Liquidator TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CAROLISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

THE TRIBUNE

Wednesday, December 30, 2020, PAGE 9

Govt targets end Activists seeking to add Town March for COVID Planning to oil drilling battle expenditure halt FROM PAGE ONE

FROM PAGE ONE credit/deferral initiative for VAT registrants; and the Business Continuity Loan for small businesses, by end-October. A further $55m was allocated for food assistance and other initiatives through to end December 2020.

The Fiscal Strategy Report, though, admitted that the government’s budget revenue forecasts could be off by more than 30 percent if The Bahamas and rest of the world are forced back to harsh COVID-19 lockdown measures. Even the imposition of less severe restrictions could cause revenue slippage of up to 22 percent.

Mr Johnson yesterday said the government would provide another fiscal and economic update by the end of January/early February, around the time of the mid-year budget, when the Ministry of Finance would have had time to analyse the 2020-2021 budget’s second quarter and determine if

signs of improvement were continuing.

Elsewhere, the Ggovernment has pledged to rebuild the fledgling Disaster Relief Fund after its initial $40m injection was drawn down by more than 50 percent following Hurricane Dorian and COVID-19.

“The fund was initially constituted with $40m in proceeds from the extinguished dormant accounts, which was utilised to meet needs arising from Hurricane Dorian,” the Fiscal Strategy Report said.

“The fund currently has a balance of $14.5m at endJune 2020. As originally contemplated, the government remains committed to growing the fund to the optimal size - estimated by the IMF to be between two and four percent of GDP once budgetary conditions permit.”

Mr Johnson said of this target: “It’s on our radar.

It’s been set back, but such is life. This is what happens when you have two disasters back to back in rapid succession.”

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

NOTICE ELDRED FOUNDATION In Voluntary Liquidation Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, ELDRED FOUNDATION is in dissolution as of December 18th, 2020.

International Liquidator Services Inc. situated at 3rd Floor Withfield Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.

Assessment (EIA) and its subsequent assertion that “unnecessary safety risks” will be created if the Supreme Court orders a halt to its activities mid-drilling.

“Contrary to [Simon] Potter’s affidavit, where BPC claims that it has limited options for the company to suspend the drilling in safe way if it were ordered to do so by this court, the EIA dated February 14, 2020, already has an emergency response plan in place to stop drilling if required to do so,” Mr Darville alleged.

“The response plan demonstrates that it would not be impossible or dangerous for BPC to stay its drilling pending the outcome of these proceedings. In fact, BPC can close the well and mobilise the drilling rig within one to three days from a ‘stay’ order.”

Mr Darville was referring to a passage in BPC’s EIA, first revealed by Tribune Business, where it says: “While BPC intends to drill outside of hurricane season to avoid potential disruption from hurricanes, the ERP (emergency response plan) will contain hurricane preparedness and response.

“In the event that the company is forced to drill during hurricane season, the company will follow standard industry practices for managing this risk (International Association of Drilling Contractor recommendations).

“For example, closure of the well and mobilisation of the rig to a safe area. Time required to close the well and mobilize the drilling rig is approximately one to three days depending on the operations underway at the time.”

Simon Potter, BPC’s chief executive, said in a subsequent affidavit filed with the Supreme Court that “significant and unnecessary health, safety and environmental risks” will be created if opponents now obtain a

THE OWNERS

LEGAL NOTICE International Business Companies Act (No. 45 of 2000)

International Business Companies Act (No. 45 of 2000)

Income Global Fund Ltd (the “Company”)

THMO INVESTMENT LTD (the “Company”)

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), that Income Global Fund Ltd. (IBC no. 196027 B) is in dissolution. The date of commencement of the dissolution is the 24th day of December, 2020. The Liquidator of the Fund is Crowe Bahamas and can be contacted at Harbour Bay Plaza, Shirley Street, Suite 587, P. O. Box AP-59223, Nassau, Bahamas. 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 24th day of January, 2021.

Luciane Ribeiro Moreno Liquidator

Crowe Bahamas Liquidator

Legal Notice NOTICE

Legal Notice NOTICE

FIFTY ANDROS MARITIME LTD NOTICE IS HEREBY GIVEN as follows: (a)

Fifty Andros Maritime Ltd is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b)

The dissolution of the said Company commenced on the 24th day of December, 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c)

The Liquidator of the said Company is Delco Investments Limited of Deltec Bank & Trust Limited, Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.

operations cannot be suspended without creating significant incremental, and unnecessary, health, safety and environmental risks.

“The drilling operations have been commenced and are being conducted in strict accordance with the environmental protocols established in the Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP),” Mr Potter added.

Mr Darville, though, alleged yesterday that BPC’s Environmental Management Plan (EMP) “further demonstrates the company’s ability to stop any drilling under various circumstances, including very advanced drillings over much longer periods than where drilling stands at the date of swearing this affidavit”. BPC is now in the tenth day of drilling its first exploratory well.

THIS IS TO INFORM THE GENERAL PUBLIC THAT THE PRIVATE ROADWAYS AND PARKING AREAS SITUATED IN THE HARBOR BAY SHOPPING CENTRE BETWEEN EAST BAY STREET AND SHIRLEY STREET WILL BE CLOSED ON FRIDAY, 1ST OF JANUARY, 2021 IN ORDER TO PRESERVE THE RIGHT OF OWNERSHIP THEREOF.

LEGAL NOTICE

Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), THMO INVESTMENT LTD (the “Company”) is in Dissolution.

The date of commencement of the Dissolution is the 24th December, 2020. Luciane Ribeiro Moreno is the Liquidator and can be contacted at Rua Afonso Braz, 747, AP 41D, Vila Nova Conceição, CEP 04511-011, São Paulo – SP, 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 the 22nd January, 2021.

SIMON POTTER

court-ordered halt to its oil drilling.

He added that the company and its Stena contractor had “limited options..... to suspend or abort the drilling” of its Perseverance One well in waters 90 miles west of Andros if environmental activists succeed with their Judicial Review challenge.

“Given that drilling has now commenced into the rocks below the seabed, implementing any of these options to suspend or abort drilling at this stage would all pose potentially severe health, safety and environmental consequences, in addition to extreme logistical challenges and financial ramifications,” Mr Potter alleged.

Revealing that his assertions were based on a report from BPC’s drilling manager, David Bond, he added: “By virtue of the options and concerns raised by Mr Bond in his memorandum, it is my belief that the drilling

NOTICE

LIQUIDATOR ______________________

In Voluntary Liquidation

STENA ICEMAX DRILL SHIP

Water Pleasury Andros Ltd NOTICE IS HEREBY GIVEN as follows: (a)

Water Pleasury Andros Ltd is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.

(b)

The dissolution of the said Company commencedon the 24th day of December, 2020 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c)

The Liquidator of the said Company is Delco Investments Limited of Deltec Bank & Trust Limited, Deltec House, Lyford Cay, P.O. Box N-3229, Nassau, Bahamas.

Dated this 24th day of December, A.D. 2020

Dated this 24th day of December, A.D. 2020

Delco Investments Limited Liquidator

Delco Investments Limited Liquidator

LEGAL NOTICE International Business Companies Act (No. 45 of 2000) ACA Investment Ltd (the “Company”) In Voluntary Liquidation Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), ACA Investment Ltd (the “Company”) is in Dissolution. The date of commencement of the Dissolution is the 23rd day of December, 2020. Luciane Ribeiro Moreno is the Liquidator and can be contacted at Rua Afonsa Braz, 747, AP 41D, Vila Nova Conceição, CEP 04511-011, São Paulo – SP, 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 the 22nd day of January, 2021.

Luciane Ribeiro Moreno Liquidator LEGAL NOTICE

NOTICE YUMA HOLDINGS LTD.

NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of Yuma Holdings Ltd. has been completed and the company has been struck from the Register on the 6th day of November, 2020.

Delco Investments Limited Liquidator

THE TRIBUNE

Wednesday, December 30, 2020, PAGE 11

US STOCKS FALL AS INVESTORS TURN CAUTIOUS FOLLOWING RECORDS Associated Press

STOCKS closed modestly lower on Wall Street yesterday as investors turned cautious a day after major indexes closed at their latest record highs.

The S&P 500 slipped 0.2%, the benchmark index’s first decline in four days.

Investors shifted money away from technology companies, which have been among of the biggest winners since the pandemic began. Industrial and financial stocks also fell broadly.

Those losses outweighed gains in health care stocks and companies that rely on consumer spending.

Small-company stocks, which have been the biggest gainers this month, fell more than the rest of the market, pulling the Russell 2000 index of smaller companies 1.8% lower. The index is still on track to end the month 7.7% higher, more than twice as much as the S&P 500.

“That segment is probably due for a little bit of a pullback given its outperformance,” said Terry Sandven, chief equity strategist at US Bank Wealth Management.

The S&P 500 fell 8.32 points to 3,727.04. The Dow Jones Industrial Average dropped 68.30 points, or 0.2%, to 30,335.67. The

tech-heavy Nasdaq slid 49.20 points, or 0.4%, to 12,850.22. The Russell 2000 gave up 36.89 points to 1,959.36.

The market’s pullback follows a strong, recordshattering run on Wall Street in recent weeks amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic’s grip. With two days of trading left in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.

Wall Street set fresh records on Monday after President Donald Trump signed a wide-ranging spending bill that includes

$900bn in COVID-19 aid and reams of other legislation on taxes, energy, education and health care.

Investors hope that the measures will help tide the economy over until more people get vaccinations and help it through its pandemic-induced slump.

“We’re kind of seeing the same thing we’ve been seeing, the dichotomy between where the financial markets are and where the actual economy is,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The recent round of aid from Washington was mostly expected and it

would have taken a much bigger package to really make markets jump, he said.

The only other pending set of business from Washington is whether Senate Republicans will pass President Trump’s push to get $2,000 stimulus checks to Americans instead of the current $600. Senate Majority Leader Mitch McConnell on Tuesday blocked Democrats’ push to immediately bring President Donald Trump’s demand for bigger $2,000 COVID-19 relief checks up for a vote, saying the chamber would “begin a process” to address the issue.

Treasury yields moved

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 76° F/24° C Low: 64° F/18° C

TAMPA

THURSDAY

FRIDAY

SATURDAY

SUNDAY

Windy with times of clouds and sun

Mainly clear, breezy; a shower late

Partly sunny and breezy

Turning sunny; breezy, warm, humid

Partly sunny and humid

A morning shower; clouds and sun

High: 78°

Low: 71°

High: 80° Low: 71°

High: 80° Low: 70°

High: 80° Low: 70°

High: 81° Low: 67°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

77° F

67° F

80°-70° F

83°-70° F

83°-69° F

86°-68° F

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

N

almanac

E

W

ABACO

S

N

High: 76° F/24° C Low: 68° F/20° C

12-25 knots

S

High: 78° F/26° C Low: 71° F/22° C

12-25 knots

FT. LAUDERDALE

FREEPORT

High: 79° F/26° C Low: 73° F/23° C

E

W S

E

W

WEST PALM BEACH

N

uV inDex toDay

TONIGHT

High: 77° F/25° C Low: 66° F/19° C

High: 77° F/25° C Low: 68° F/20° C

MIAMI

High: 78° F/26° C Low: 73° F/23° C

8-16 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 75° F/24° C Low .................................................... 64° F/18° C Normal high ....................................... 78° F/26° C Normal low ........................................ 66° F/19° C Last year’s high ................................. 82° F/28° C Last year’s low ................................... 71° F/22° C Precipitation As of 1 p.m. yesterday ................................. 0.01” Year to date ............................................... 67.36” Normal year to date ................................... 39.58”

ELEUTHERA

NASSAU

High: 78° F/26° C Low: 71° F/22° C

Forecasts and graphics provided by AccuWeather, Inc. ©2020

High: 78° F/26° C Low: 69° F/21° C

N

KEY WEST

High: 77° F/25° C Low: 72° F/22° C

tiDes For nassau High

E

W

10-20 knots

S

12-25 knots

Low

Ht.(ft.)

7:46 a.m.

8:01 p.m.

2.9 2.2

1:21 a.m. -0.2 2:16 p.m. -0.1

Thursday

8:26 a.m.

8:43 p.m.

3.0 2.2

2:02 a.m. -0.2 2:57 p.m. -0.1

Friday

9:07 a.m.

9:27 p.m.

3.0 2.2

2:43 a.m. -0.2 3:38 p.m. -0.1

Saturday

9:49 a.m.

10:13 p.m.

3.0 2.3

3:27 a.m. -0.2 4:20 p.m. -0.1

Sunday

10:34 a.m.

11:04 p.m.

2.9 2.4

4:15 a.m. -0.1 5:05 p.m. -0.1

Monday

11:22 a.m.

11:59 p.m.

2.8 2.5

5:08 a.m. 0.0 5:52 p.m. -0.2

Tuesday

12:14 p.m.

-----

2.6 -----

6:07 a.m. 0.1 6:42 p.m. -0.2

sun anD moon Sunrise Sunset

6:54 a.m.

5:31 p.m.

Moonrise Moonset

6:07 p.m.

7:22 a.m.

Last

New

First

Full

Jan. 6

Jan. 12

Jan. 20

Jan. 28

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 78° F/26° C Low: 70° F/21° C

High: 80° F/27° C Low: 74° F/23° C

N

High: 78° F/26° C Low: 70° F/21° C

E

W S

LONG ISLAND

tracking map

High: 80° F/27° C Low: 71° F/22° C

H

Ht.(ft.)

Today

High: 79° F/26° C Low: 70° F/21° C

N

S

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

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

CAT ISLAND

E

W

higher yesterday, a sign of confidence in the economy.

The yield on the ten-year Treasury rose to 0.93% from 0.92% late on Monday.

Trading has been thin as a tumultuous 2020 draws to a close. The market will be closed for New Year’s Day on Friday.

European markets mostly rose. The French CAC 40 rose 0.4%, while the FTSE 100 was up 1.5%. The German DAX fell 0.2%.

In Tokyo, the Nikkei 225 jumped 2.7% to 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on Dec 29, 1989.

12-25 knots

MAYAGUANA High: 80° F/27° C Low: 72° F/22° C

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

CROOKED ISLAND / ACKLINS RAGGED ISLAND High: 80° F/27° C Low: 72° F/22° C

High: 80° F/27° C Low: 71° F/22° C

GREAT INAGUA High: 81° F/27° C Low: 73° F/23° C

N

E

W

E

W

N

S

S

12-25 knots

12-25 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday: Today: Thursday:

WINDS E at 12-25 Knots ESE at 10-20 Knots E at 10-20 Knots ESE at 8-16 Knots ENE at 12-25 Knots E at 10-20 Knots ENE at 12-25 Knots E at 12-25 Knots ENE at 10-20 Knots ESE at 10-20 Knots E at 12-25 Knots SE at 10-20 Knots NE at 12-25 Knots E at 10-20 Knots NE at 12-25 Knots E at 12-25 Knots ENE at 12-25 Knots E at 12-25 Knots ENE at 12-25 Knots E at 12-25 Knots E at 10-20 Knots ESE at 8-16 Knots NE at 12-25 Knots E at 12-25 Knots NE at 12-25 Knots E at 10-20 Knots

WAVES 6-10 Feet 6-10 Feet 3-5 Feet 3-5 Feet 6-10 Feet 6-10 Feet 6-10 Feet 6-10 Feet 8-12 Feet 6-10 Feet 4-8 Feet 4-7 Feet 3-6 Feet 2-4 Feet 6-10 Feet 6-10 Feet 4-8 Feet 4-7 Feet 8-12 Feet 8-12 Feet 4-7 Feet 3-5 Feet 5-9 Feet 5-9 Feet 4-8 Feet 4-7 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 74° F 74° F 79° F 79° F 80° F 80° F 78° F 78° F 77° F 75° F 79° F 79° F 80° F 80° F 80° F 80° F 79° F 79° F 78° F 77° F 79° F 79° F 79° F 79° F

PAGE 12, Wednesday, December 30, 2020

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