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MONDAY, OCTOBER 1, 2018

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Cruise lines eye bid on Nassau’s ‘bottom’ port ibbean worst ar C g n o am ed k n ra ’ * ‘Sadly d it well-run’ ee n e ‘W f: ie ch an e b * Royal Carib reatening’ way h -t n o ‘n in p el h to s * Pledge By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

OYAL Caribbean’s top executive yesterday confirmed that the industry has discussed submitting a bid to manage a Nassau cruise port that is “sadly among the Caribbean’s bottom”. Michael Bayley, president and chief executive of Royal Caribbean International,

described to Tribune Business a fluid situation where the cruise lines were talking to each other - and also other groups - about the possibility of joint bids to take over the operations/ management of Prince George Wharf. His comments came as he pledged that Royal Caribbean was “very willing to work” in a “nonthreatening” way with the Government and Bay Street stakeholders to

MICHAEL BAYLEY

improve the passenger experience in downtown Nassau. Mr Bayley disclosed that Royal Caribbean’s passenger satisfaction surveys showed Nassau was ranked near-bottom among 35 Caribbean destinations, and said a partnership approach between the cruise lines and destination was the best way to resolve this. “We have had discussions on this topic,” he told Tribune Business. “We

obviously receive satisfaction surveys from guests... that tell us an awful lot about their experience.” Royal Caribbean transports 5.1m passengers annually on its 60 ships, which visit almost every region in the world, and Mr Bayley said: “It’s true that in the Caribbean, when you rank the Caribbean destinations, sadly Nassau comes in among the bottom.

SEE PAGE 4

PHOTO: Shawn Hanna/Tribune Staff

Contractor chief: Political pressure forced me out Minister ‘dumbfounded’ by By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamian Contractors Association’s (BCA) president yesterday blamed “sinister and unprecedented” political pressure for forcing him to resign to protect the group’s advocacy efforts. Leonard Sands told Tribune Business that the BCA’s executive board members were last week warned that the organisation faced “dire repercussions”, and exclusion from efforts to improve and regulate the industry, unless he stepped down by 12pm yesterday. The now-former president

Royal Caribbean targets 2/3 rise in Bahamas visitors By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ROYAL Caribbean’s top executive yesterday said the cruise line will “bring closer” to 2m visitors to The Bahamas by 20202021, marking a two-thirds increase in just two to three years. Michael Bayley, Royal Caribbean International’s president and chief executive, told Tribune Business that the cruise line was likely to exceed its own projections of bringing 1.75m passengers - a 45.8 percent increase - to The Bahamas within that timeframe.

SEE PAGE 5

construction chief’s claims

* ‘Sinister ultimatum’ gave no choice * Blames ‘political hack’, Minister * Situation ‘dangerous’ for WTO, Act

LEONARD SANDS said he had to “oblige this ultimatum” for the greater good of the BCA and its members, and that of the wider construction industry,

OMAR ARCHER labelling the developments as “exceptional” and “a lack of democracy”. Mr Sands alleged that the threats, and demands

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

DESMOND BANNISTER for his resignation, came from Omar Archer, the controversial and outspoken

SEE PAGE 7

A CABINET minister yesterday said he was “dumbfounded” and “lost for words” over claims the Bahamian Contractors Association’s (BCA) president had been forced out by political pressure. Desmond Bannister, minister of works, told Tribune Business that neither he, the Government nor the Free National Movement (FNM) operates as suggested by now-former BCA president, Leonard Sands.

Mr Sands, in an e-mail and subsequent interview with this newspaper, blamed Omar Archer, the well-known political activist recently appointed as Contractors Registrar, for threatening that the BCA would face “dire repercussions” and be marginalised unless he resigned as its president by noon yesterday. Having duly obeyed the “ultimatum” for the greater good of the BCA and its members, Mr Sands said he found it hard to believe

SEE PAGE 6

Water Corp revenues ‘near double’ in record September By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Water & Sewerage Corporation’s chairman says it closed September on “a high note” by “almost doubling” monthly revenue to $3.6m - with the prospect of much more to come. Adrian Gibson told Tribune Business that the state-owned water supplier’s figures did not include the Family Islands, or payments made via the banks and money transmission services providers, meaning collections could soar well above the month’s normal $2m average. He credited the corporation’s fortnight-long advertising campaign, warning of this week’s upcoming mass disconnection exercise,

* At $3.6m with prospect of more to come * October repeat hope via disconnections * Illegal reconnects prosecuted; staff warned with driving the revenue increase by forcing delinquent customers - including “major hotels” and other businesses to bring their accounts current. Mr Gibson also warned disconnected customers not to seek illegal reconnections, revealing that “follow-up teams” will be dispatched into the field within two-four days on both New Providence and the Family Islands to check for such activity. He confirmed that illegal reconnections “will be prosecuted to the full extent of the law”, with Water &

ADRIAN GIBSON

Sewerage Corporation staff “terminated summarily” if found to have assisted with this. Emphasising that he, the Government and board were serious about improving the corporation’s shaky finances, and recovering $45m in accounts receivables to reduce the need for taxpayer subsidies, Mr Gibson said of the disconnection drive starting today: “There will be no exceptions, and no one is exempt.” Expressing hope that the corporation will follow September’s performance

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with a similar “record” revenue collection in October, Mr Gibson said the improvement had come despite pressures faced by households as a result of Back-to-School spending and the traditional tourism “slow season”. “We’re ending the month on a high note at the corporation,” he told Tribune Business. “Right now we’re at $3.6m, and that’s almost double what we expected this month. And we still have another day to go, and have not got payments yet from the major banks and the likes of Cash N’ Go and Mango. “We’ve been running ads for two weeks warning people to come in before mass disconnections that

SEE PAGE 3

PAGE 2, Monday, October 1, 2018

THE TRIBUNE

AGRICULTURE MINISTER ARGUES POLICY MUST BE DATA-DRIVEN

By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net A CABINET minister has underscored the need for “data” to drive government agricultural policy, with stakeholder consultation “as often as possible” critical to this effort. Michael Pintard, pictured, minister of agriculture and marine resources, told Tribune Business that he “welcomed” a recent Inter-American Development Bank analysis of this nation’s agriculture and fisheries sector and would evaluate its findings. The newly-published IDB analysis of Bahamian agricultural and fisheries policy called on the Government

to reduce the role it plays in a sector that generates just 1.6 percent of annual GDP, and instead “incentivise” the private sector to fill the void. The report, obtained by Tribune Business, said that despite their relatively small GDP contribution the agriculture and fisheries industries still represented a key source of Bahamian economic diversification if their potential was fully exploited. It found that support provided to Bahamian farmers was equivalent to

19.08 percent of gross farm receipts between 2012-2014, with government policy resulting in consumers “paying higher prices” for local produce - something it branded as especially “damaging” for low income households. While not commenting directly on the report’s findings, Mr Pintard said: “When government introduces legislation, policies, programmes or projects, by and large those things should be driven by empirical data or studies. “Whereever possible and,

more often than not, studies ought to be conducted and some data ought to be able to drive the process. Secondly, government should engage as often as possible in consultation with various stakeholders so that people affected directly and indirectly can have a say on how to act and react.” The Minister added: “One of the challenges we have in the country is there have been crucial decisions that were made and they were not supported by the science. The need for study and data is crucial in a number of sectors, and particularly in agriculture and marine resources. “Over the years we have made some progress in terms of gathering

relevant data that assisted past administrations that is assisting us now in making important decisions in the marine sector, such as the closed seasons; the way in which we have set standards for what size conch should be harvested. “All of this has been formed by careful studies that specify certain areas that should be designated as marine protected areas, which has again been born out of looking at where the breeding grounds are for various species. It is important for us to get the data.” The IDB analysis called for greater efficiency in Government spending on agriculture through the introduction of performance monitoring programmes

for particular policy initiatives. Mr Pintard said: “International and intergovernmental agencies step in and provide a service in terms of conducting studies. It helps us tremendously in improving the country’s’ performance in that area. “The data is useful for producers whose capacity we are attempting to build, and whose production capacity is important if we are to meet our goal of food security. We welcome the study done by the IDB, which is the first step in an ongoing series of updates we believe are necessary. The Ministry will now, having been briefed by them and heard the presentation, sit down as a team and do an evaluation.”

Fishermen urge: ‘Wake up’ to long line usage By NATARIO MCKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net FISHERMEN have reiterated their call for the expansion of commercial fishing in The Bahamas, telling this newspaper: “We need to fish our ocean.” Keith Carroll, the Bahamas Commercial Fishers Alliance (BCFA) vice-president, told Tribune Business: “We need to fish our ocean. The fish are in our ocean and we are not catching them. The BNT (Bahamas National Trust) is saying they don’t support long line, but it doesn’t mean it’s not happening. “The Defence Force doesn’t protect the ocean; they protect the banks. You go in these high-end restaurants and you see tuna on the menu and swordfish on the menu. How do you think they were caught? They need to really advocate for the Government to stop these Dominicans from fishing in our country. Right now, people have been doing that kind of fishing since that ban was in place. We have to wake up in this country.” Michael Pintard, minister of agriculture and marine resources, last week denied the Government plans to reverse the ban on long line fishing, telling Tribune Business: “We won’t change now.” He added that he was taken aback by the BNT’s unexpected public expression of concern that the Government was about to permit this practice within the waters of the exclusive economic zone (EEZ). His comments came after the BNT released a statement in which it described longline fishing as a destructive practice that could change the Bahamian way of life forever. Shelley Cant Woodside, the BNT’s director of science and policy, said that while the Trust

was open to exploring the possibility of developing sustainable pelagic fisheries for commercial fishermen, it would not support any legislation that allowed longline fishing. This is the use of hook and line gear that can have thousands of baited hooks on lines which extend many kilometres from the vessel. Long lines can be used to fish Pelagics near the surface using floats, or near the bottom using weights, depending upon the targeted species. The BNT statement, which appeared to be a response to Mr Pintard’s previous statement that his ministry and the Department of Marine Resources (DMR) were exploring the expansion of commercial fishing to species such as tuna, warned that long line fishing had devastated stocks around the globe. “The BNT is aware that many pelagic species are already being fished daily in Bahamian waters and has not taken a position opposing Bahamian fishermen targeting these fish,” the statement read. “What the BNT has raised with the Minister and DMR officials are concerns regarding the use of unsustainable and destructive methods. The BNT is aware that there are persons advocating for the amendment of Bahamas fishery legislation to allow for longline fishing. This practice is known around the world to have devastating effects on marine resources. The statement continued: “The BNT would not necessarily stand in opposition to commercial fishermen exploring the feasibility of developing sustainable pelagic fisheries, but we are emphatically opposed to the establishment of a long-line fishery within the Bahamian Economic Exclusive Zone.”

THE TRIBUNE

Monday, October 1, 2018, PAGE 3

Water Corp revenues ‘near double’ in record September FROM PAGE ONE will commence next [this] week. As a result of that, we’ve had the best September in the corporation’s history, and we still have tomorrow [Saturday] and the Family Islands. “The usual average is somewhere around $2m, with $2.5m the top limit. We have had this record September, and I expect we will have a record October. September is usually a difficult month with backto-school, and persons are faced with paying bills and financial concerns and so forth. But the corporation has to be a going concern, too.” Mr Gibson said the water supplier’s revenue streams and cash flow had been a problem for years, with some customers “owing money for years” and building up large accounts receivables balances. This week’s touted “mass disconnection” will target such non-payers, and the chairman added: “We’ll disconnect without fear or favour. And we’re not just going to disconnect. “I’ve already directed that when disconnections happen, two, three, four days afterwards we’re going to dispatch a followup team to ensure there are no illegal reconnections. “Those persons reconnecting, we’re going to plug the line. We might well remove the supply line, and will certainly prosecute to the full extent of the law. We are not going to tolerate illegal reconnections,” Mr Gibson continued. “Anyone engaging in that will be prosecuted, and any staff participating in that or doing illegal connections will be terminated summarily.” Confirming that similar oversight will be applied in the Family Islands, Mr Gibson said: “We will deploy a supervisory management team

to monitor and oversee disconnections there. “Most people there are inter-connected families and so on, and persons will sometimes do their job and disconnect only for someone else to reconnect. We want to make sure these plans are borne out and all the necessary follow-up takes place.” Suggesting that warnings of the corporation’s planned “get tough” approach were starting to have an impact, Mr Gibson revealed: “We’ve had several major businesses make major payments to the corporation, including major hotels and business establishments. “In October, we intend to double or triple what the usual intake for October is. With $45m out there, we have to claw that back, and we’ve planned to claw that back by any means necessary and intend to do so.” The corporation’s chairman said he was recruiting from the private sector, including the banking industry, to bolster its credit and collections team and change the culture to one where it is “run like a business”. “To run like a business requires a private sector approach to these collections,” Mr Gibson said, adding that he also planned to extend operating hours at the corporation’s call centre to 9pm to ensure delinquent customers had absolutely no excuse for saying they were unaware money was owed. “We’ve had complaints that people have been caught in traffic,” he added. “With the call centre closing at 6pm in the evening, a lot of people are still in traffic. We want to catch them at home. “We’re going to give you every opportunity to come in and make payment. If not, that’s on you. I urge all persons to come in and make payment, or enter into a payment plan.”

Our infrastructure needs ‘beyond fiscal capacity’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government yesterday unveiled its promised public-private partnership (PPP) framework, conceding that this nation’s “infrastructure needs are beyond our fiscal capacity”. The ministry of finance, in a statement, said the policy was designed to better define PPPs and bring order to a previously ad hoc approach to such arrangements, enhancing their governance and ensuring better value for money for Bahamian taxpayers. KP Turnquest, deputy prime minister, said: “The Government is looking at every possible avenue to limit its borrowing, constrain its debt while meeting its financial obligations. The reality is: Meeting The Bahamas’ infrastructure needs is beyond the fiscal capacity of the Government alone, given the geographic dispersion of the islands, coupled with low population densities of the Family Islands and higher than average infrastructure costs. These factors create particular challenges with regard to policy, management and maintenance of public infrastructure. “To address these challenges, the Government recognises the private sector has financial and technical resources that can be mobilised to help provide high-quality, responsive, resilient and sustainable public assets and services in a way that achieves value for money for the Government and public users.” The ministry of finance said the policy’s development, and issuance, will bring greater transparency and accountability to PPP deals, while creating a set of criteria and objectives against which proposals can be rated and benchmarked.

This, in turn will aid the selection of projects and private sector partners, and improve PPP management and procurement. “Partnerships of this nature undertaken by the Government must go through a rigorous accountability process because we are talking about using public money on major infrastructural projects that have profit incentives built in for private sector partners. “This is not the private sector where you can make snap decisions and do what you want, when you want, because it is your own private money. These are public investment projects and there is no short-cutting the accountability process. “It must have transparency, and it must be open and fair, and it must be fiscally responsible. That is why a policy is necessary, and that is why our policy establishes these as guiding principles along with value for money, environmental and social sustainability, partnership and inclusiveness.” Mr Turnquest added: “We have created a streamlined process that is fair and transparent with essentially only three stages: Project Identification and Screening; Business Case Analysis; PPP Procurement. “The oversight and management structure has four reasonable tiers: Sector level/project specific management teams; overall PPP operational unit at the Ministry of Finance; oversight bodies responsible for all approvals in the PPP steering committee and Cabinet. This creates the needed checks and balances for responsibly managing public money, and protects the return on investment for the Bahamian people. “It is important to note as well that although the policy sets guidelines for the ideal size of projects and the nature of same, the

Government will retain its right to exercise flexibility on project types and project sizes that it will consider and make exceptions when warranted. The primary ambition is to engage the private sector in a way that makes optimal use of public resources toward public sector goals.” However, the PPP policy has already come under fire. Mick Holding, the Grand Bahama Chamber of Commerce’s president, in a statement issued last week called for the document to be amended because it was “overly bureaucratic” and “cumbersome”. He also expressed concern that the policy called for all PPPs to have a $10m “minimum” investment value or “floor”, while arguing that opening up projects to bids from international companies and investors was “detrimental” to the needs of small and mediumsized (SMEs) Bahamian enterprises. Tribune Business previously reported that the Government hired the Caribbean Development Bank (CDB) to help develop a “properly structured” legal and risk management framework for PPPs, with meetings held with the private sector on the issue earlier this year. This came after six PPP contracts entered into by the former government came under heavy fire from the Minnis administration, which inherited them upon being elected to office on May 10. Carl Bethel QC, the Attorney General, told the Senate on June 22, 2017, that all were placed under review to determine if the Government was getting value for money and they were in the Bahamian people’s best interests. He identified the contracts as including proposals to “construct an

administrative office building on 30 acres of prime agricultural Crown Land on Gladstone Road; reconstruct an administrative office for the administrator and police Station in Harbour Island, entered into with the same company that had agreed to build the Gladstone Road complex”. Mr Bethel said the Memorandums of Understanding (MoUs) for these two projects were combined, adding: “That MOU called for the 30 acres to be granted to the builder by a Crown Grant, so that it could then lease the same land back to the Government. The transfer of title was said to be so as to enable that builder to borrow necessary funds from a Bank to fund the construction.” The Attorney General did not identify the developer involved, but Tribune Business previously revealed Sebas Bastian’s Brickell Management Group (BMG) as the private sector partner behind the Harbour Island project. The other PPPs referred to by Mr Bethel included a new administration complex and police station in Eight Mile Rock; the new General Post Office at the Independence Drive Shopping Plaza; the proposed new Road Traffic Department building on Tonique Williams Highway and Knowles Drive; and contractual works for the Fox Hill Community Centre. Scott Godet, principal of Scottdale Bedding and National Fence Company, and a major landlord to the Government, was the principal behind the Post Office PPP. Desmond Bannister, minister of works, subsequently revealed that now-Exuma MP, Chester Cooper, was leading the $24.5m Road Traffic PPP, while New Providencebased Top Notch Builders raised $25m to finance the Eight Mile Rock complex.

PAGE 4, Monday, October 1, 2018

THE TRIBUNE

Cruise lines eye bid on Nassau’s ‘bottom’ port FROM PAGE ONE “We do need to work together to improve the experience, and we’re very willing to do this. It requires dialogue. We’re more than prepared to come to the table and talk about how to improve the guest experience in Nassau; not in a non-threatening way but a partnership.” The Royal Caribbean chief said that, if successful, this would generate more revenue, profits and jobs for Bahamian businesses by bringing more cruise visitors to Nassau and increasing their per capita spending. The major cruise lines are understood to have been dissatisfied with the Nassau passenger experience for years, with one of the major concerns being the relative lack of new attractions,

shore excursions and activities for guests to do. This is often exacerbated by the fact the city is such a frequent call, especially on three and four-night cruises, meaning that repeat passengers feel they have often seen everything here. Speaking after Royal Caribbean donated $25,000 to kick-start the Bahamas Feeding Network’s expansion plans, and its drive to cut hunger among the one in seven Bahamians living below the poverty line, Mr Bayley said this nation needed to ensure the cruise port’s outsourcing “truly benefits The Bahamas” and local community. “Currently there’s a process in place for people to enter into the tender for the management of the port,” he said of the Government’s plans to issue a formal Request for Proposal (RFP) to solicit bids.

“We’re a part of that story.” Mr Bayley added that different groups were assessing the Nassau cruise port opportunity, “including a group of cruise lines talking to each other about how they can get together to develop a proposal”. He did not say Royal Caribbean was part of the discussions, though, and revealed the industry was also talking to port operators and non-lines. “We need an efficient, well-run port,” the Royal Caribbean chief said. “We think we know how to do that. We operate ships throughout the world.” His comments confirm Tribune Business’s report last month that the major cruise lines which call on Nassau are indeed interested in the prospect of taking over the port’s management themselves when the contract is put out to

public bid. The prospect of a cruise industry bid has attracted some criticism, though, with some observers suggesting that granting it a contract to manage Prince George Wharf will be equivalent to “putting the fox in charge of the hen coop”. This is because the operators and major customer will effectively be one, with some going as far to suggest such an arrangement would likely end any prospect The Bahamas has of maximising the economic returns and benefits from the industry’s frequent calls in this nation. But Dionisio D’Aguilar, minister of tourism and aviation, previously told Tribune Business that the cruise lines “will not be barred” from bidding to take over Prince George Wharf’s management, saying: “All offers will be judged on merit.” He told Tribune Business that all-comers were free to submit proposals for taking over operations and management of Nassau’s cruise port, with no contenders “pre-judged”. Mr Bayley said the key for The Bahamas, regardless of who won the contract to manage and operate Prince George Wharf, was to ensure the arrangement maximised the benefits for Bahamians and the wider community. “What will truly be the

benefits to The Bahamas? How will the community be positively impacted?” he added of the key questions. Among the likely rivals to any cruise line bid is the consortium headed by Global Ports Holding, which operates multiple cruise ports in Europe and the Far East, together with BISX-listed Arawak Port Development Company (APD) and CFAL (formerly Colina Financial Advisors). That group’s 49-page proposal, obtained by this newspaper, said its plans to transform Nassau’s cruise port will give the economy a $16bn boost spread over 30 years. It added that a $285.7m upgrade of Prince George Wharf through a waterfront entertainment park would inject an extra $216m into the Bahamian economy in the first year alone. Mehmet Kutman, Global Ports Holding’s chairman, wrote in a letter to the Bahamas Investment Authority (BIA) that this nation urgently needed to improve a “greatly underperforming” infrastructure asset if it was to capitalise on the cruise industry’s anticipated growth and increase passenger spending yields to the benefit of local businesses. “Currently, the Nassau cruise port greatly underperforms as a national asset,” Mr Kutman wrote.

“Its infrastructure ought to be significantly improved to ensure the growth of the cruise business by providing a more fulfilling passenger experience in Nassau...” That consortium, though, itself faces competition from Culture Village (Bahamas), the 50-strong Bahamian investor group headed by former Family Guardian president, Gerald Strachan. Their proposal for reviving both Prince George Wharf and the surrounding area would focus on development consistent with this country’s heritage. “To date we have been fairly quiet about our submission because, as far as we can tell, it alone captures the culture, history and heritage of the Bahamas, which will give visitors to the redeveloped Prince George Dock a sense of place while solving the most critical problems expressed by our residents, our visitors and the cruise companies,” Mr Strachan told Tribune Business recently. “Beyond that, we see our proposal as a critical catalyst for the redevelopment of the downtown area, and its elements will provide an invitation for our residents and for our visitors from both Cable Beach and Paradise Island to frequent a far less congested city centre.”

THE TRIBUNE

Monday, October 1, 2018, PAGE 5

Royal Caribbean targets 2/3 rise in Bahamas visitors FROM PAGE ONE

He said it was “a little bothersome at times” to hear repeated criticism that Royal Caribbean and other cruise lines hogged the majority of the industry’s economic benefits for themselves, rather than let it trickle down more to Bahamian entrepreneurs and workers, through calls on their private islands and other strategies. Mr Bayley, pledging that Royal Caribbean, will grow its current estimated $300$350m annual Bahamas economic impact, said the cruise line was mindful of the need to strike a “balance” between calls on Nassau and visits to its Coco Cay private island in the Berry Islands. The latter property is currently undergoing a $240m upgrade and expansion, which will largely be completed by May 2019 and facilitate the hiring of a further 100-120 Bahamians to join the 250 already employed at Coco Cay by Royal Caribbean.

Mr Bayley used this as an example of how the cruise line’s positive impacts were not always truly appreciated or seen, and also pointed to the 600 total jobs - direct and indirect - generated by the Grand Bahama Shipyard, in which Royal Caribbean holds a 40 percent ownership stake. He added that the cruise line, which has nearly $20bn in assets and deploys 60 ships worldwide, has already hired some 60-70 Bahamians to work on its ships through the National Training Agency (NTA) - a number it is aiming to increase to 200 by year-end 2018. “The Bahamas has always been a very important destination for Royal Caribbean,” Mr Bayley told Tribune Business, “and over the course of this year we will bring just over 1.2m tourists to The Bahamas.” With the cruise line having brought an estimated 20m visitors to The Bahamas’ shores since it began sailing to this nation 50 years ago, the Royal Caribbean chief

added: “Our ambition, with the new ships coming in by 2020, I think it will be closer top 2m we will bringing to The Bahamas by 2020-2021.” That exceeds Royal Caribbean’s own estimate of an increase from the current 1.2m to 1.75m over the same period, with Mr Bayley basing the rise on an increase in both the cruise line’s feet and vessel size giving it the ability to carry more passengers. Royal Caribbean also yesterday produced data showing it currently generates a $300m annual economic impact in The Bahamas, headed by passenger spending worth $104m. This is followed by a $73m investment in the ‘Perfect Day’ expansion at Coco Cay, and Grand Bahama Shipyard’s $70m contribution. The balance comes from $28m in “head” (departure) tax collected by the Government, and $16m in crew passenger spend. The cruise line also pledged that increased passenger numbers also means longer stays in port, with almost half - 605,000 - of its 1.213m Bahamas visitors for 2019 forecast to spend 12 hours or more in Nassau. This compares to 418,000, or 39 percent, of the 1.072m passengers that will visit this year.

Bahamas employment is also predicted to near “double” in the three years to 2021 with the addition of 1,250 jobs. These will be split between Coco Cay, where 120 Royal Caribbean and 100 vendor posts will be create, plus a further 100 at Paradise Beach and 310 at the Grand Bahama Shipyard. The majority will be on board the cruise line’s ships. Asked about concerns that the cruise lines retain all the economic benefits for themselves, Mr Bayley replied: “I think obviously we’re aware of that. At times it’s a little bothersome. We feel we do our best in bringing tourists to the destination. “We’re open to work on partnerships that enhance the experience, and offer more activities and entertainment to guests. They all come ashore, use taxis, go on shore excursions, eat

in restaurants. That’s a bid economic impact. We should understand that. “There’s studies that have been done in the past that have demonstrated the multiplier effect of this and that it’s been good for the economy. Could it be better? Sure.” Mr Bayley added that Royal Caribbean was “open to working on ideas with anybody” to improve the cruise tourism product. As for perceptions that cruise lines favour calls on their private islands above Nassau and Freeport, the Royal Caribbean chief executive said: “It’s a balance, and we’re very cognisant of that. I don’t know what the split is, but we bring an awful lot of people to Nassau. We’re going to grow that number.” He explained that Royal Caribbean sought to match visits to Nassau with those

to Coco Cay, and added that the latter destination’s economic significance to the Berry Islands - the present 250 jobs and vendor opportunities - were sometimes not appreciated elsewhere in The Bahamas. Mr Bayley said Royal Caribbean was seeking as many Bahamians “as we can get” to work on its ships, and was exploring the creation of training programmes to assist the National Training Agency’s work and ensure candidates have the right qualifications. “We have an lot of opportunities,” he said. “We can give an awful lot of openings for the kids. We’re a big contributor to the Bahamian economy and want to continue with that. We believe that’s going to grow even further.”

PAGE 6, Monday, October 1, 2018

THE TRIBUNE

Minister ‘dumbfounded’ by construction chief’s claims FROM PAGE ONE that Mr Archer would be acting alone without the support of Mr Bannister in making his demands. Mr Bannister, though, said the first he had heard of Mr Sands’ resignation was when this newspaper contacted him yesterday. “I didn’t even know he had resigned,” the minister told Tribune Business. “I had no idea he resigned, and I certainly have not applied any pressure. I don’t know if Mr Archer told him anything. “This government doesn’t work like that, and I don’t operate like that. I’m not sure where he’s [Mr Sands] coming from, but this government does not operate like that. I’m lost for words.” Responding to Mr Sands’ accusations that a rival, younger group, the Move Forward Contractors Association, may be given more seats than the 60 year-old BCA on the board that will ultimately oversee the construction industry’s selfregulation, Mr Bannister denied that was true. While aware of the Move Forward group’s existence, the Minister said it had “nothing like” the BCA’s statutory board or powers. He reiterated that the Construction Contractors Act gave the BCA the right to nominate six members from various disciplines within the Bahamian construction industry to the board something that is enshrined in statute law and can only be changed by Parliament. “I’m not sure where Mr Sands is coming from,” Mr Bannister repeated. “I’m dumbfounded. I don’t operate like that, and the FNM doesn’t operate like that.” Mr Archer, too, told Tribune Business he was unaware of Mr Sands’s departure until contacted by this newspaper. He denied the former BCA president’s allegations that he was directly responsible

for the threats and his forced resignation, adding that he was a government employee and could not intervene in the Association’s affairs. “That’s news to me,” Mr Archer responded, when contacted by this newspaper about Mr Sands’ resignation e-mail. “That’s on him. Any form of resignation would have to come through the BCA.” Denying the claims of his, and the Government’s, interference, Mr Archer would only add: “I have no dealings with the internal workings of the BCA. I work for the Government, not the BCA.” He declined to comment further. Mr Sands, in his resignation e-mail, said he had no choice but to comply with the demands for his resignation as “the survival of the BCA” was at stake. Addressing his executive Board, he wrote: “I recognise that this was not a decision that you wanted, but one that we must comply with for the survival of the Bahamian Contractors Association, as was made clear to us all. “I would wish to say that the attempt to silence my voice in no way will silence the voice of the BCA. The BCA has always, and will always, fight for the rights of Bahamian contractors to ensure that they are afforded an equal opportunity to have access to work in their own country.” Confirming his

resignation from the FNM also, Mr Sands added: “I would like to express that I am extremely saddened by the events of the past few days as a young professional in this country. For the better part of my life I have fought to uphold the tenets of our democracy which, unfortunately, I am left to question today. For democracy to function, there should always be opposing voices and the right for those voices to be heard. “The political party of which I was once a candidate believed in freedom of speech, and the right of individuals to express their views even if those views are opposing to the powers that be. However, today I find myself with no other option but to also tender my resignation from the Free National Movement with immediate effect.” Mr Sands regretted that the Construction Contractors Act had yet to be brought into effect due to the delay in appointing its oversight board, and hit out at Mr Archer, adding:

“Appointing a Contractors Registrar with no prior experience in the construction industry has further complicated matters as the industry is bracing itself for the possible impact of WTO. “The BCA has been the sole voice fighting for more opportunities for local contractors, promoting educational development and ensuring best practices across the entire construction industry in The Bahamas.” He added: “We have single-handedly over the last 40 years advocated for the now-passed Construction Contractors Act. This Act seeks to revolutionise the entire industry and bring contractors and construction up to the professional standards of our fellow colleagues, the architects and engineers. “This work has not been without its challenges, but we have always found a way to overcome them for the greater good of the country and the industry at large.”

RIO BRAVO INVERSIONES S.A.

Pursuant to the provision of Section 138(7) of the International Business Companies Act, 2000 (Chapter 309). Notice is hereby given that the above named company has been dissolved and struck off the Register of Companies and a Certificate of Dissolution has been issued by the Registrar General on 11th September 2018.

t. 242.323.2330 | f. 242.323.2320 | www.bisxbahamas.com

Brittany Investment Company Limited Liquidator

BISX ALL SHARE INDEX: CLOSE 1,947.00 | CHG -2.18 | %CHG -0.11 | YTD -116.57 | YTD% -5.65 BISX LISTED & TRADED SECURITIES

1050.00 1000.00 1000.00 1000.00

1000.00 1000.00 1000.00 1000.00

PREFERENCE SHARES

1.00 103.00 100.00 106.00 105.00 103.00 100.00 10.00 1.01

1.00 100.00 100.00 100.00 100.00 100.00 100.00 10.00 1.00

Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Commonwealth Bank Class E Commonwealth Bank Class J Commonwealth Bank Class K Commonwealth Bank Class L Commonwealth Bank Class M Commonwealth Bank Class N Fidelity Bank Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00

52WK LOW 100.00

115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 ##########

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

SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ CAB6 CAB8 CAB9 CAB10 CHLA CBLE CBLJ CBLK CBLL CBLM CBLN FBBA FCLB

SECURITY Fidelity Bank Note 22 (Series B) +

SYMBOL FBB22

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

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

BAHAMAS GOVERNMENT STOCK - (percentage pricing)

LAST CLOSE 3.51 17.43 9.09 4.46 1.01 0.19 2.30 9.22 6.16 3.63 12.42 2.79 1.75 7.50 6.21 13.20 6.35 3.65 13.01

CLOSE 3.51 17.43 9.09 4.46 1.01 0.19 2.30 9.22 6.16 3.60 12.42 2.74 1.75 7.51 6.21 13.20 6.35 3.65 13.01

CHANGE 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 0.01 0.00 0.00 0.00 0.00 0.00

1000.00 1000.00 1000.00 1000.00 1.00 100.00 100.00 100.40 100.00 100.00 100.00 10.00 1.00

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

CLOSE 100.00

CHANGE 0.00

107.34 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

-0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LAST SALE 100.00 107.44 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

VOLUME

400 5,840

250

VOLUME

EPS$ 0.268 0.932 -0.306 0.317 0.059 0.000 -0.996 0.700 0.441 0.154 0.627 0.102 0.231 0.000 0.670 0.701 0.719 0.277 0.631

DIV$ 0.100 1.130 0.000 0.230 0.000 0.010 0.000 0.710 0.220 0.120 0.620 0.060 0.070 0.084 0.280 0.500 0.200 0.120 0.590

P/E 13.1 18.7 N/M 14.1 N/M N/M -2.3 13.2 14.0 23.4 19.8 26.9 7.6 N/M 9.3 18.8 8.8 13.2 20.6

YIELD 2.85% 6.48% 0.00% 5.16% 0.00% 5.26% 0.00% 7.70% 3.57% 3.33% 4.99% 2.19% 4.00% 1.12% 4.51% 3.79% 3.15% 3.29% 4.53%

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

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

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

INTEREST Prime + 1.75% 6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%

MATURITY 19-Oct-2022 ############### 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022

MUTUAL FUNDS 52WK HI 2.17 4.16 2.01 180.30 157.58 1.57 1.70 1.65 1.10 6.99 8.54 6.15 10.52 11.46 10.46 10.00 8.45 11.20

52WK LOW 1.67 3.04 1.68 164.74 116.70 1.51 1.62 1.59 1.08 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

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

NAV 2.17 4.14 2.01 180.30 155.10 1.57 1.68 1.65 1.09 7.36 8.53 6.50 11.41 11.66 10.41 9.93 8.45 11.20

YTD% 12 MTH% 2.24% 4.15% 0.03% 4.59% 1.23% 2.26% 0.90% 3.44% 1.11% 6.05% 2.50% 4.38% -0.75% 3.51% 1.75% 4.07% -0.52% 1.03% -1.08% 1.77% -5.96% -3.05% 1.90% 4.59% 7.24% 11.96% 2.77% 3.88% 3.94% 4.69% -0.61% 0.75% 1.13% N/A 2.95% N/A

NAV Date 31-Jul-2018 31-Jul-2018 27-Jul-2018 30-Jun-2018 30-Jun-2018 31-Jul-2018 31-Jul-2018 31-Jul-2018 31-Jul-2018 31-Aug-2018 31-Aug-2018 31-Aug-2018 31-Aug-2018 31-Aug-2018 31-Aug-2018 30-Jun-2018 30-Jun-2018 30-Jun-2018

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

b) The dissolution of the said Company commenced on 7th May 2018 when its Articles of Dissolution were submitted to and registered by the Registrar General.

NOTICE

To advertise in The Tribune, contact 502-2394

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

a) BEACHSIDE LIMITED is in dissolution under the provisions of the International Business Companies Act, 2000.

AMICORP BAHAMAS MANAGEMENT LIMITED Bahamas Financial Centre, 3rd Floor Shirley & Charlotte Streets P.O. Box N-4865 Nassau, Bahamas

THURSDAY, 27 SEPTEMBER 2018

52WK LOW 3.50 19.17 7.50 3.32 0.90 0.15 2.30 8.55 6.09 3.53 9.00 2.30 1.40 7.25 6.00 9.75 5.67 3.25 12.50

NOTICE IS HEREBY GIVEN in accordance with Section 138 (4) of the International Business Companies Act, 2000 as follows:-

c) The Liquidator of the said Company is Jose Ignacio Balada Valero, whose address is: Carmencita No 25, office 42, Las Condes, Santiago Chile.

MARKET REPORT 52WK HI 4.50 19.17 7.50 4.46 1.26 0.19 3.92 9.22 6.60 5.30 12.50 2.71 1.77 8.21 6.21 13.20 7.00 4.50 13.50

LEGAL NOTICE INTERNATIONAL BUSINESS COMPANIES, ACT 2000

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

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

Law firm invites applications for the position of

Support Litigation Attorney

The successful candidate will provide quality support to senior litigation attorneys in various aspects of work and research with limited direct interaction with clients. Duties to include preparation of submissions; drafting all forms of pleadings and court documents in compliance with the Rules of Court and laws generally; appearing on interlocutory applications and other court hearings as required; note-taking of court proceedings and client meetings; assist with asset recovery project for the banks; reviewing, drafting and maintaining precedents. Successful candidate must be able to prioritize and balance a heavy workload and work well under pressure to meet deadlines. Attention to detail, strong writing and research skills are essential. Preferably 5-6 years’ relevant experience. Competitive remuneration package is commensurate with qualifications and experience. Qualified applicants should send their CVs to: associatelawfirm@gmail.com. Only applicants with the required criteria need apply.

THE TRIBUNE

Monday, October 1, 2018, PAGE 7

Contractor chief: Political pressure forced me out FROM PAGE ONE political activist, who has recently been appointed as Contractors Registrar by the Government. He attacked Mr Archer as “a political hack who knows nothing about construction”, and branded his appointment as “dangerous” for ongoing efforts to both implement the Construction Contractors Act and secure the best possible outcome for the sector in the World Trade Organisation (WTO) negotiations. Mr Sands said that while “I cannot particularly point to the minister” as being behind the pressure, he found it hard to avoid this suspicion given that Mr Archer ultimately reported to Desmond Bannister, minister of works. Mr Bannister yesterday told Tribune Business he was “dumbfounded” by Mr Sands’s allegations, adding that “the FNM does not operate that way; I do not operate that way”. Mr Archer, too, denied Mr Sands’s claims of government/political interference, saying he had no influence over the BCA’s internal workings. “That’s news to me,” he said of the resignation (see other article on Page 1B). Mr Sands and Mr Bannister, though, have clashed before over the former’s public advocacy efforts on legislation to regulate the construction industry. The minister of works told Tribune Business earlier this year that he “detests” how Mr Sands was talking to him through the media over delays in implementing legislation to regulate the industry. The minister said then that the failure to implement the Construction Contractors Act was due to the BCA’s seeming inability to nominate private sector members of the board that will oversee its enforcement. Mr Sands has also been extremely vocal in calling for the Government to take a harder line on the involvement of Bahamian contractors and

workers, or lack of it, at The Pointe development in downtown Nassau. “Over the last few days it has been made clear to me and my board that my involvement as the president of the Bahamian Contractors Association is not in line with the wishes of those in political leadership,” Mr Sands said in an e-mail statement yesterday. “It has also been made clear to me, and my board, that if I remained there would be repercussions to the members of the BCA, which I cannot allow. Therefore, effectively immediately, I have hereby tendered my resignation as president of the Bahamian Contractors Association.” Mr Sands, who was initially nominated as the FNM’s Bain and Grant’s Town candidate in the 2017 general election before withdrawing, yesterday said he had resigned from the party as well as the BCA presidency. This means that Mr Bannister has, within the space of a month, been linked to two controversies in which highprofile FNM members have abruptly walked away from the governing party - the other involving former Bahamas Power & Light (BPL) chairman, Darnell Osborne. Asked whether he was blaming government pressure for his resignation, Mr Sands told Tribune Business: “That’s exactly what it was. Over the past six to seven days, I got a communication from my executive board members that they’d been asked to convey a message to me. “The message they were asked to convey to me was that the BCA would not be allowed to be a part of anything meaningful in the construction industry by involvement on the Construction Contractors Board, or anything like that which the Contractors Registrar has some control over, if I was still the president. That has been the message from over a week ago. “In no uncertain terms, it was told to them [BCA Board members] that if the resignation of Mr Sands did

not come before 12pm today [yesterday], there would be dire repercussions felt by its members and executives.” Mr Sands said he was informed by his board that “the straw that broke the camel’s back, so to speak”, was his appearance last Monday on the Guardian Talk radio show, Blueprint for Change, which discusses construction and engineering matters. “I was the guest, and I made the comment that we seem to have a minister of finance in our government, we seem to have ministers of health that are doctors, but we’ve not had a minister of works that is a contractor or has a formative degree in construction or engineering,” he added. “Apparently, that comment seemed to rub someone the wrong way, and after that I was told I had to be removed from my presidency. If I continued to stay there, the BCA would be marginalised, and have no power and no kind of voice. “I could take that happening to me, but not the Association and its members. I was given an ultimatum and had to oblige. They said to the board that you have to remove him or the life of the BCA is over. That’s a lack of democracy.” Mr Sands told Tribune Business that “this is exceptional, unprecedented what has happened” for a government to intervene in the workings of a trade association such as the BCA, which is independent and receives no funding from the Government. Asked who had told the board he needed to be removed, Mr Sands replied: “It is Omar Archer, a political hack. He had no prior idea or knowledge of the BCA beforehand, didn’t know anything about the construction industry or the Act at all. “He’s going on the last 30 days of knowledge of being in the job, and determined the BCA president must be removed. It’s very dangerous, unprecedented, the way he sought to have a president removed. “I cannot particularly

point to the minister, but Archer is saying that his boss does not want to see Mr Sands as president. Who is his boss if not the minister? He’s been the one in direct communication with my executive team,” Mr Sands continued. “The communication the board had with him was: Don’t call me again until you have his resignation in hand. That’s dictating. The last communication he made was: If it’s not received by 12pm today [yesterday], he will communicate with the press that the construction industry will move forward without the BCA’s contribution. “That’s a direct threat in clear and direct terms. I’ve resigned so I’m no longer the president, and have resigned from the FNM as well.” Mr Sands said the BCA’s board members fought back and supported him, but Mr Archer “doubled down and said: ‘This is not a debate. If you do not cause him to resign, there’s no future for the BCA’. It’s sinister, but it is what it is.” Mr Sands indicated that the threat to marginalise the BCA was supported by the emergence of a rival construction industry association, the Move Forward Contractors Association, which he said was “trying to position itself as the premier association”. This, he added, was despite the rival association being formed only 12 months ago and lacking a business office, forcing it to hold meetings at the Garvin Tynes Primary School. The now-former BCA chief said “a number of its members” are ministry of works employees or persons in government-appointed positions, identifying Gregory K. Minnis, who manages the Potters Cay dock for government, as one of the Move Forward Contractors Association’s main drivers. Mr Sands said it had been implied that the Move Forward Association might receive more seats on the Construction Contractors Board than the BCA, despite the latter having been in existence for 60 years

compared to its one, if he did not step down. Should that happen, Mr Sands said it threatened to place the Bahamian construction industry “in a really bad place” - and cost it “hundreds of millions of dollars” - because the BCA and its members would not be sufficiently involved in the WTO negotiations. He argued that the sector was now “in an extremely risk adverse situation” over trade liberalisation. The construction industry remains the last Bahamian profession waiting to be selfregulated by its own Act, and Mr Sands yesterday reiterated that implementation only requires the appointment of the Construction Contractors Board that will oversee the sector’s

supervision and contractor licensing. He added that the BCA had submitted its six recommended industry appointees to the board, but had heard nothing further from the minister. Mr Bannister, though, earlier this year said he had asked the Association to provide a revised list because there was not enough variety among the nominees. Mr Sands, though, said further delay had been caused by Mr Archer’s decision upon taking office to appoint a committee to determine “who the contractors are in the country”. The former president said this task should be left to the board, describing the registrar’s move as “parallel to the law” and a “duplication of effort”.

BAHAMAS POWER AND LIGHT COMPANY LTD. VACANCY NOTICE

MANAGER - PROCUREMENT

MANAGER - WAREHOUSE

A vacancy exists in the Company for the position of Manager - Procurement.

A vacancy exists in the Company for the position of Manager - Warehouse.

The incumbent will achieve Company objectives by:

• • • • • • • • • • • • • • • • • • •

Establishing and maintaining relationships with suppliers to meet the Corporations operating departments’ needs for timely materials and services at the lowest total cost; Managing the commodity team program to develop standard products and pre-defined, preferred business arrangements. Responsible for the success of the commodity team approach; Ensuring decrease in the Corporation’s overall material and service procurement costs; Ensuring reduction of total number of suppliers; Managing the vendor evaluation process, with an effective vendor evaluation schedule and disciplined follow up of vendor status criteria; Implementing comprehensive vendor performance management; Ensuring non-standard transactions are executed in accordance with the Corporation’s policies; Maintaining confidential information regarding sensitive cost proposals, contract terms and conditions, employee salaries etc.; Developing annual business plans and prepares operating budgets and targets for the procurement section. Establishing performance standards for the section and evaluates performance of personnel; Identifying root causes of performance gaps, developing and executing plans to continuously improve operations; Developing new supply sources where vendors are inadequate; Negotiating costs, examining bids, and making awards; Negotiating blanket purchase orders when appropriate and monitors cost during time period; Reducing inventory while satisfying company requirements through accurate inventory usage data analysis and effective vendor stock solutions; Checking requisitions for appropriate approval and codes; Tracing delinquent arrivals from purchase orders; Establishing procurement policies and ensures compliance; Performing other reasonable duties that may be requested from time to time.

Maintaining health, safety and environment standards by: • Ensuring compliance with all safety policies and procedures. • Ensuring compliance with all environmental and health standards. • Completing all required HSE training Job requirements include but not limited to: • • • • • • • • • •

Bachelor degree in Management/Business Administration or equivalent qualifications; Requires 8+ years of experience in procurement; Knowledge of purchasing/buying procedures and processes; Knowledge of custom tariffs; Knowledge of shipping and transportation procedures; Knowledge of supply contracts; Ability to communicate effectively both orally and in writing; Good judgement and sound reasoning ability; Good report writing skills; Good time management skills.

Interested persons should apply to Afuture@bplco.com on or before: October 5th, 2018. Only candidates meeting the criteria will be contacted.

• • • • • • • • • • •

•

• •

Overseeing material security and responsive service; Coordinating inventory shrinkage and warehouse cost; Monitoring and evaluating the performance of subordinate staff; Establishing the processes, policies and procedures for the department; Ensuring proper accounting and job costing of materials; Ensuring maximum use of warehouse space and racking systems; Ensuring the security of the warehouse from pilferage and weather damage; Ensuring efficient management of stores at New Providence and Family Island locations; Managing traffic from vendors and intra-island shipments; Maintaining a personnel structure and staffing level to accomplish the warehouse and receiving mission in an effective and efficient manner. Interviewing and recommending applicants for hire; Planning and coordinating work, training and motivating, monitoring and evaluating performance of warehouse and receiving associates; ensuring their ability to safely operate material handling equipment to move materials to and from storage configurations; counseling, recording and disciplining as necessary. Developing leaders to effectively oversee the daily routines of their assigned members; Maintaining an equipment structure and level to accomplish the warehouse and receiving mission in a safe; effective manner. Providing appropriate equipment and racking to ensure the safe transport and storage of all materials. Researching material handling equipment to ensure procurement of the most suitable equipment in terms of performance, safety, reliability and cost; Monitoring the unloading of all materials into the department; ensuring materials are staged for counting and inspection; ensuring receiving reports accurately report material received. Resolving discrepancies with accounting regarding invoices, packing slips, and receiver reports. Monitoring the flow of paperwork from receiving to inventory control for timely data entry. Overseeing the movement of material from receiving to the warehouse in an efficient, effective and safe manner; Monitoring and measuring performance for accuracy of locator, receiving & reporting, movement and storage of material, and transferring to service parts; Developing and recommending annual budget requirements for the department. Anticipating and requesting funding for future personnel requirements. Anticipating and requesting funding for future material handling equipment.

Bachelor degree in Business Administration or equivalent qualifications Knowledge of material management and logistics Knowledge of shipping and transportation procedures Knowledge of supply contracts Ability to communicate effectively both orally and in writing Good judgment and sound reasoning ability Good report writing skills Good time management skills Manages Logistics Coordination

Interested persons should apply to Afuture@bplco.com on or before: October 5th, 2018. Only candidates meeting the criteria will be contacted.

Blue Hill and Tucker Roads, P.O. Box N-7509, Nassau, Bahamas | T: 242.302.1000 | F: 242.323.6852 |www.bplco.com

Bahamas Power and Light Company Ltd.

BUILDING FOR BETTER

PAGE 8, Monday, October 1, 2018

THE TRIBUNE

China manufacturing, export weakens amid US tariff battle BEIJING Associated Press

Congratulations to

MRS. TAMIKA S. DEAN, ACII The Insurance Commission of The Bahamas congratulates Tamika S. Dean on her successful completion of the Advanced Diploma in Insurance from the Chartered Insurance Institute, London, England, qualifying as an Associate of the Institute (ACII). The ACII is a professional qualification providing an enhanced understanding of insurance practice, both technical subject matter and overall application skills. This notable achievement also enabled Tamika to attain the designation of Chartered Insurance Risk Manager (CIRM), based on her experience in the insurance industry. Tamika joined the Commission in 2011 as an Insurance Analyst. She currently holds the position of Manager, Intermediary and Market Conduct, with over 15 years of insurance industry and regulatory experience. In addition to her insurance qualifications, she holds a Bachelor’s Degree in Banking and Finance - Private Trust from the University of The Bahamas. She is also an Associate of the Bahamas Institute of Financial Services. Reflecting on her recent achievement, Tamika says “I am delighted to have completed this phase in my professional development. I am committed to ensuring that I attain the relevant qualifications to enable me to be an effective and inspirational leader, as we regulate and supervise the insurance market and ensure that policyholders are treated fairly. I would like to thank the Commission for their continued support in the professional development of their employees.” The Insurance Commission of The Bahamas is mandated to ensure a sound and stable insurance marketplace and consumer confidence in the insurance industry. The Commission contributes to the overall safety and soundness of regulated entities through a programme of supervision, regulations and public information.

CHINA’S export orders shrank in September as a tariff battle with Washington over technology escalated, adding to downward pressure on the world’s number two economy, two surveys showed yesterday. The reports add to signs Chinese trade, which had held up despite US President Donald Trump’s tariff hikes, might be weakening. That adds to pressure on an economy that already was forecast to cool due to slowing global consumer demand and lending controls imposed to rein in a debt boom. The official China Federation of Logistics & Purchasing’s monthly measure of new export orders fell to 48 from August’s 49.4 on a 100-point scale on which numbers below 50 show activity shrinking. A separate index by a business magazine, Caixin, showed new export orders fell at the fastest rate in more than two years. The magazine said companies blamed “trade frictions” and tariffs. Overall, the federation’s monthly purchasing managers index showed manufacturing activity decelerated to 50.8 from August’s 51.3. Caixin said its index fell to 50 from 50.6. “Downward pressure on China’s economy was significant,” economist Zhengsheng Zhong said in Caixin’s report. The resiliency of China’s $12tn-a-year economy until now has allowed President Xi Jinping’s government to reject pressure for changes in initiatives such as “Made in China 2025” that call for state-led creation of champions in robotics and other technologies. Washington, Europe and other trading partners say those violate Beijing’s market-opening obligations. The International Monetary Fund and other forecasters expect this year’s economic growth to fall to

US President Donald Trump and vice president Mike Pence. China’s export orders shrank in September as a tariff battle with Washington over technology escalated, adding to downward pressure on the world’s number two economy, two surveys showed yesterday. The reports add to signs Chinese trade, which had held up despite US President Donald Trump’s tariff hikes, might be weakening. That adds to pressure on an economy that already was forecast to cool due to slowing global consumer demand and lending controls imposed to rein in a debt boom. about 6.5 percent from 2017’s 6.8 percent. But that slowdown is due mostly to the ruling Communist Party’s long-term efforts to steer China to self-sustaining growth based on consumer spending instead of trade and investment. Last week, Trump stepped up pressure by raising tariffs on $200bn of Chinese goods. Beijing retaliated with penalties on $60bn of American imports. Both sides already had raised duties on $50bn of each other’s goods. The two sides have announced no plans for negotiations. China accused Trump in a report last week of bullying other countries. A deputy commerce minister said negotiations were impossible while Washington “holds a knife” of tariff hikes to Beijing’s throat. With no settlement in sight, forecasters say the conflict could trim global economic growth by 0.5 percent through 2020. Yesterday’s reports gave no details on September orders from the United States, China’s biggest national export market. Sales to the United States have held up so far, rising by more than 13 percent in August. But analysts said that strength might have been due partly to Chinese suppliers rushing to beat increases in import taxes. American officials

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complain Beijing steals or pressures companies to hand over technology. They worry Chinese technology initiatives might erode US industrial leadership. Communist leaders have tried to stick to long-term reform plans the ruling party says will make the statedominated economy more competitive and productive. Beijing has cut import tariffs and announced plans to open auto manufacturing and some other industries wider to foreign competitors. But none of their changes address the US technology complaints. Last week, Beijing announced tariff cuts, effective, Nov 1, on 1,585 types of goods including construction equipment. Chinese leaders should act quickly to “expand domestic demand and resolve the short-term downward pressure”, economist Zhang Liqun said in the logistics federation’s report. Trade’s importance to China has shrunk but it still supports millions of well-paid jobs. The United States is the destination for the highest-value Chinese exports including smartphones, industrial machinery and medical technology. The logistics federation’s employment index fell 1.1 points to 48.3, indicating workforces were shrinking.