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TUESDAY, NOVEMBER 12TH, 2019
$4.52 GB Power suffers $23m Dorian blow By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net HURRICANE Dorian’s catastrophic winds and storm surge have inflicted a $23m blow on Grand Bahama Power Company, its Canadian owner revealed yesterday. Emera, unveiling its 2019 third quarter results, disclosed that Grand Bahama’s electrical utility provider is facing a $12m repair bill to totally restore its transmission and distribution (T&D) system following the category five storm’s passage. It added that GB Power will also have to cover the $5m insurance policy deductible for its 50 megawatt (MW) Peel Street generation plant, which was inundated with storm surge flooding likely to render it inoperable for several months. The figures revealed by Emera back previous assertions by Dave McGregor, GB Power’s chief executive, that damage to the utillity’s transmission and distribution network would be “substantially less” than the near-$28m cost incurred to rebuild it following Hurricane Matthew in October 2016. However, the financials also disclose that GB Power and its parent recorded a $6m earnings hit on the back of reduced sales due to Dorian knocking out electricity supply for several days after it struck in early September. However, GB Power was said to have restored supplies to all customers whose properties were passed fit to receive energy by end-September 2019. This meant that 16,000 clients, or 84.2 percent of the utility’s customer base, were receiving service within one month of the storm’s passage. “On September 1, 2019, Hurricane Dorian struck Grand Bahama Island as a Category 5 hurricane, causing significant damage across the island. Emera’s 2019 third quarter earnings decreased by approximately Cdn$16m ($0.07 per common share), compared to the 2018 third quarter, as a result of the impact of the hurricane,” Emera’s corporate filings revealed. “GB Power’s earnings decreased by $6m for the quarter due to reduced
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$4.57
A FORMER Opposition leader yesterday said the probe into bribery allegations involving the Defence Force’s new $150m fleet had “absolutely vindicated” concerns she first raised five years ago. Loretta Butler-Turner told Tribune Business that “Bahamians should be very concerned as to where this goes” since it “can leave quite a blemish on the country’s reputation” should the claims ultimately be proven true. The former Cabinet minister and MP spoke out after The Tribune confirmed that Bahamian law enforcement authorities have been co-operating with Dutch investigators probing whether the Netherlandsbased manufacturer of nine Royal Bahamas Defence
$4.60
Parliament ‘must get serious’ on corruption Aliv: Yields DAMIAN BLACKBURN
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
T
HE bribery probe involving the Defence Force’s $150m fleet “speaks volumes” about the need for Parliament to take the anti-corruption fight “as seriously as the country”, governance reformers urged yesterday. Matt Aubry, the Organisation for Responsible Governance’s (ORG) executive director, told Tribune Business that the Dutch investigation into whether such payments were made provided “further proof” of why his group and others were pushing so strongly for the government to move forward with a package of stalled anti-graft Bills. While praising the Ministry of Finance for releasing the draft Public Procurement Bill 2019 for consultation, Mr Aubry reiterated that it was “critical” for the government to move the Integrity Commission Bill and the creation of an ombudsman’s post through Parliament as rapidly as possible. Suggesting that politicians
• Defence Force bribery probe ‘speaks volumes’ • ‘Further proof’ of need for stalled legislation • Govt corruption ‘serious’ for 90% of Bahamians
MATT AUBRY may be out of step with how the Bahamian people view this issue, he pointed to an ongoing ORG survey where 65 percent of respondents ranked government corruption in The Bahamas as “extremely serious”. Another 26 percent rated it as “serious”, meaning that more than nine out of every ten persons view it as a major problem. Some 74 percent of replies voiced optimism that corruption in The Bahamas can be “substantially reduced”, while 83 percent agreed that
ordinary Bahamians “can make a difference” in the battle against practices that the prime minister himself estimated cost this nation’s economy several hundred million dollars annually. Warning that perception was everything, Mr Aubry said incidents such as the Defence Force claims could undermine the progress The Bahamas has made in “changing” its image when it came to corruption - especially where the private sector and civil society were concerned. Reiterating that nothing had been proven in relation to the Defence Force contract, he told Tribune Business: “This goes back to our most recent history and is further proof of why we’ve been advocating so strongly for anti-corruption legislation like the Integrity Commission Bill. “This speaks volumes to the need for the upcoming Public Procurement Bill, and would involve the
Proceeds of Crime Act - legislation that has been passed and needs to be passed... Parliament needs to take it as seriously as the rest of the country sees it.” The proposed Integrity Commission Bill would repeal and replace the current Public Disclosure Committee, establishing a comprehensive and independent anti-corruption body to reform anti-corruption policy, investigate issues of corruption, administer public disclosure and educate the public. Mr Aubry yesterday said the Ombudsman Bill, which would create a post to resolve disputes the public has with government agencies, also needed to be moved forward. He added that ORG’s survey, conducted to coincide with the imminent launch of its National Integrity Campaign, had also found that 78.8 percent of respondents
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80% of Dorian-hit assets uninsured
By YOURI KEMP
UP TO 80 percent of private homes and businesses devastated by Hurricane Dorian were uninsured, the deputy prime minister revealed yesterday, creating an unsustainable burden for the state. K Peter Turnquest, opening the annual Accountants Week conference, said the failure to properly insure meant that a “significant loss” event would likely transfer the costs of rebuilding and restoration to the government and Bahamian taxpayer. He described this as “neither tenable nor budgeted for”, and a trend that could threaten both The Bahamas’ fiscal stability and its sovereign credit rating if the government was forced to pick up an increasing proportion of restoration costs that should be borne by the private sector. “Initial assessments of
• DPM warns of ‘untenable exposure’ for state • Tells Nassau residents: ‘It can happen to you’ • Calls for ‘disaster relief clauses’ in loans
K PETER TURNQUEST uninsured risk in this storm are high: As high as 80 percent,” Mr Turnquest said. “The gap between the
coverage and exposure is being put to the government as a social responsibility, which gives us a significant
Loretta: The Bahamas ‘should worry’ on Defence Force deal By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
$4.60
• Feels ‘absolutely vindicated’ by Dutch probe • Urges full ‘co-operation’ with investigators • Govts must be ‘diligent on value for money’
LORETTA BUTLER-TURNER Force (RBDF) ships paid bribes to secure the deal and similar contracts with other Caribbean countries. She yesterday said the late Bernard Nottage, then-minister of national security, and other members of the former Christie administration had been “very dismissive” when
she voiced fears that the deal with Damen Shipyard Group (DSG) was overpriced - especially since it was paying more for fewer vessels than the last Ingraham government had sought to order. Mrs Butler-Turner, in particular, argued at the
time that $8m was “unaccounted for in terms of costs” although Mr Nottage subsequently said this had been set aside to cover any unanticipated change in the project’s scope of works. Now, urging the government to be “very cooperative” with the Dutch investigation, Mrs ButlerTurner said it needed to apply greater scrutiny when dealing with large multimillion dollar contracts with international vendors to ensure nothing untoward happens. With the Defence Force fleet claims following swiftly behind the $300,000 Bahamas Electricity Corporation
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exposure from a budgetary point of view. “The failure to adhere to building codes has aided in catastrophic destruction, and will likely lead to higher insurance premiums, further challenging home ownership for many.” Pointing to the tendency for Bahamians to cut corners and “tip the person” to look the other way in order to speed up the process, he encouraged persons to do it right first time and properly invest in their home’s infrastructure so that risk was reduced and insurance premiums kept affordable. Mr Turnquest said 87.6 percent of the $580m damages and losses incurred
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up by 10% in one year By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ALIV’S top executive yesterday revealed that per customer revenue yields have increased by ten percent over the past 12 months as the mobile operator moves to “reinvent the store experience”. Damian Blackburn, speaking as the upstart provider celebrated its third birthday, told Tribune Business that the Cable Beach store set to open via a “soft launch” this week will reveal much of its thinking in relation to the new concept. Confirming that Aliv is continuing to invest “north of $10m” annually in network and store improvements, excluding the extra $6m spend for Hurricane Dorian restoration, Mr Blackburn said the mobile provider is targeting earnings before interest, taxation, depreciation and amortisation (EBITDA) “to the tune of” $2m for its current quarter notwithstanding the storm’s impact. Disclosing that this will be achieved by generating $20m in projected revenues for the three months to end2020, Mr Blackburn said this would represent a quarter-over-quarter increase on the $18m top-line that was achieved in the previous period despite Dorian. The storm pushed that quarter’s EBITDA into “slightly negative” territory. He added that Aliv was trying to strike the correct “balance” between burying fibre-optic cable in the ground and offering wireless solutions when it came to its Abaco network restoration post-Dorian, adding that both options are being “carefully evaluated”. “ARPU (average revenue per subscriber) is in the right place,” Mr Blackburn said. “We have ARPU at $39. Each customer is spending on average $39 a month. There is nothing better to tell you you’re
SEE PAGE 2
PAGE 2, Tuesday, November 12, 2019
THE TRIBUNE
ACCOUNTANTS CHIEF: WE CAN HELP IN A DISASTER By YOURI KEMP
THE Bahamas must create a “pre-disaster planning council” involving multiple government agencies following Hurricane Dorian, the Bahamas Institute of Chartered Accountants (BICA) president said yesterday. Diveane Bowe, speaking during the annual Accountants Week seminars, said: “Preparedness is the key to the country’s ability to recover
from natural disaster and respond to emergencies. To prepare for emergency, an emergency management team must assess potential problems and set plans in motion to help communities’ weather disasters.” He explained that the “predisaster planning council” would require a “communications protocol” to be developed across government agencies, the private sector and non-governmental organisations to assist
with making disaster relief efforts much smoother. Mr Bowe said the accounting industry, following hurricanes and other natural disasters, can assist with communityscale evacuation logistics planning, budgeting and fund-raising, and emergency needs. “We [can] also assist with public/private partnership structuring under disaster declarations, and also with the procurement of equipment in the immediate
aftermath of natural disasters,” he added. Accountants, Mr Bowe said, can also advise clients on the management and disbursement of funds; assist recipients with any regulatory requirements they must fulfil; help structure procurement and reimbursements; conduct cost/benefit analyses and compliance; and help the government with streamlining approval awards among multiple partners and vendors.
Warning that disaster relief donations must be spent properly, Mr Bowe said accountants have to make sure the “money is received, allocated and spent in a manner that is ethical. BICA will provide aid with regard to accountability in how funds are coming in, and how those funds are being disbursed”. Asked by Tribune Business how he sees the accounting profession assisting private sector clients to combat climate
change, Mr Bowe replied: “As a result of climate change concerns, companies are now eager to make sure their footprints are ‘greener’ than what they used to be. “So it is our job as accounting professionals to help companies track what they do, and help them create an indicative value on what it means to change and to see what the value of their change has been on the society and how it impacts their business.”
Tourism holds church service DIONISIO D’Aguilar, minister of tourism and aviation, yesterday addressed his ministry’s Thanksgiving Church Service at St Agnes Anglican Church. Pictured, centre, just outside of the church are, from left: Charles Albury, permanent secretary; Mr D’Aguilar; Archdeacon Keith Cartwright, rector of St Agnes Church; Joy Jibrilu, director-general of tourism; and Ellison “Tommy” Thompson, deputy director of tourism. Photos: Kemuel Stubbs/BIS
Parliament ‘must get serious’ on corruption FROM PAGE ONE did not how to report corruption to the authorities or file a complaint. “We don’t have clear procedures to report corruption, and don’t have mechanisms to understand how corruption is addressed
and vetted,” Mr Aubry told Tribune Business. “The process of how these things come forward and are evaluated locally is not effective. People don’t know how to report corruption and don’t believe that reporting it will result in any great change.” He added that the
“consequences and repercussions” if caught needed to be obvious, and said: “Even the perception of corruption has an impact. It affects the country’s international reputation. For businesses that want to be foreign direct investors, and want to come here, it doesn’t speak well to the environment they will encounter here, which on many fronts has improved considerably .
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“More importantly, it erodes the trust locally, the public’s trust in government because of VAT increases and duty that continues to be high in various areas. The ordinary citizen queries what they’re paying for when they see instances like this. These are allegations, but they all have an impact in this area both locally and internationally. “We’re really excited to see the Procurement Bill go forward, but the Integrity Commission Bill and Ombudsman’s Bill are
necessary steps to root out the potential for this culture of corruption to grow greater.” Mr Aubry explained that corrupt practices undermined the effectiveness of the government’s procurement system as well as requiring that lost monies “be made up for” elsewhere via increased and new taxes. “If there are vendors committed to integrity it doesn’t serve them in what they’re doing,” he explained. “It fosters a
pay-to-play environment and that’s not something that we want to promote for The Bahamas. “I think we’re changing that, and see this [the Defence Force claims] as detrimental to what we’re trying to achieve as a nation. It’s concerning. Ultimately, let’s get in front of this as a nation. Let’s use the government, civil society, the media, the clergy to promote a culture of integrity, and promote what we do is much more important than who we are.”
GB Power suffers $23m Dorian blow
costs for GB Power’s selfinsured assets will be approximately $12m. “At September 30, 2019, the company incurred and recorded $8m of this estimated cost. The $8m is recorded as a regulatory asset as management anticipates that recovery of these prudently incurred costs through a regulatory process is probable.” The “regulatory process” refers to how the utility sought to recover its restoration costs post-Matthew from consumers - but in such a way that electricity prices will not increase beyond current levels. Three years ago, GB Power said it would “mine savings” from its fuel and operating costs to recover the rebuilding of its island-wide transmission and distribution network. As for the Peel Street generation plant, Emera added: “Management is working with GB Power’s insurance companies to assess the damage to its generation assets. It is anticipated that this damage will be covered by insurance, with the exception of $5m, which is GB Power’s share of the insurance deductible,
and which has not yet been recorded. “In addition, Emera recorded a corporate loss of $7m in the 2019 third quarter.... for the corporate share of the unrecoverable loss on GB Power’s facilities.” Emera added that GB Power’s future earnings could continue to be impacted by the Dorian fall-out, while some of its assets - and the goodwill carried by its Canadian parent - could yet be impaired or written-off. “At September 30, 2019, GB Power’s total assets were $351m, excluding goodwill, and $76m of Emera’s goodwill was related to GB Power,” Emera said. “The impact of Hurricane Dorian could adversely affect GB Power’s future earnings, and impairment of some of its assets and goodwill could occur. “The outcome cannot be reasonably determined or estimated at this time. Therefore no impairment was recorded in the 2019 third quarter. The company expects to complete its impairment analysis in the 2019 fourth quarter.”
FROM PAGE ONE
load as storm restoration efforts were underway. In addition, Emera recorded a corporate loss of Cdn$9m in the 2019 third quarter.... for the corporate share of the unrecoverable loss on GB Power’s facilities.” Despite damage across GB Power’s generation and transmission and distribution infrastructure, Emera said network restoration efforts were “well underway”. It added: “GB Power has restored power to all customers who requested power and are able to receive it and, as of September 30, 2019, power was restored to approximately 16,000 or 85 per cent of its customers. “GB Power maintains insurance for its generation facilities and, as with most utilities, its transmission and distribution networks are self-insured. It is currently estimated that restoration
Aliv: Yields up by 10% in one year FROM PAGE ONE doing a good job than customers spending their hard-earned money to buy your products and services. “It’s [ARPU] probably improved ten percent over the course of the last 12 months. That’s probably to do with us because we’re operating in all market segments now. We only launched consumer post paid 15 months ago.” Mr Blackburn added that Aliv, which hosted a glitzy reception to mark its third anniversary complete with teasers of its upcoming Christmas promotional campaign, had launched its “Aliv Together” crowdfunding
platform to assist non-governmental organisations with raising disaster relief funds in Dorian’s immediate aftermath. He revealed that it has helped to raise $112,000, with groups such as the Red Cross and HeadKnowles among the registered users, following a year in development when it obtained all the necessary banking and regulatory approvals. “Reinventing the store experience is something we plan to look at,” Mr Blackburn told Tribune Business. “We’re looking at opening a new store at Cable Beach with a soft launch this week and an official opening later this month. “That’s going to be
something of our new thinking. You can still recognise it as an Aliv store, but there will be lots more going on there than in other Aliv stores. We are still investing double digits in the network and stores in the order of north of $10m on a normal run-rate.” Mr Blackburn said Aliv now had 170,000 subscribers and an estimated 37 percent share of the mobile market based on its collective revenue top-line. He added that the operator’s 4G LTE (Long Term Evolution technology) network is providing 99.88 percent availability to consumers, while the figure for its 3G network stands at 99.62 percent.
THE TRIBUNE
Tuesday, November 12, 2019, PAGE 3
BOB ‘open for partners’ as profits decline 75% By YOURI KEMP and NEIL HARTNELL Tribune Business Reporters BANK of The Bahamas (BoB) is open to strategic partnerships, the deputy prime minister said yesterday, as the institution suffered a 75.2 percent profits decline for its 2020 financial year’s first quarter. Speaking outside the Accountants Week conference, K Peter Turnquest said Bank of The Bahamas, which is 82.6 percent owned by the government via the Treasury and National Insurance Board (NIB) “would have had an even bigger profit” were it not for the provisions taken to cover a $6m claim launched by a former Cabinet minister’s family and their business partner against it “We expect that case would be satisfied, [and] that would result in increased profitability for the bank,” Mr Turnquest added. “The bank does not want the government to curb their investments, and the government is open for partners and third parties in that regard.” Mr Turnquest did not specify the nature of the partners or partnerships that the BISX-listed institution is seeking, but said: “Bank of the Bahamas is doing very well, and we are very pleased with the progress we are making. We are pleased with the management and pleased with the Board.” His comments came after Bank of The Bahamas’ profits fell by three-quarters year-over-year to $487,404 for the three months to end-September 2019 as opposed to $1.966m for the comparative period in the prior year. Net interest income was ahead of the 2018 first quarter by almost $1m, standing at $7.699m, and with fees and commissions also up, total operating income finished at $10.616m compared to $9.802m the year before. However, loan loss provisions more than doubled to $2.656m due to provisions related to Hurricane Dorian, while operating expenses were higher by some $700,000. Tribune Business also previously revealed how Bank of The Bahamas has defeated the bid to enforce the $6m default judgment against it despite being branded “careless and negligent” in its approach to the case. Stephana Saunders, the Supreme Court’s deputy registrar, found that there was sufficient “merit” in the BISX-listed institution’s
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SAVE A LIFE GIVE THE GIFT OF K PETER TURNQUEST defence to set aside the default judgment obtained by companies 50 percent owned by the family trust of Damian Gomez, former minister of state for legal affairs, with the balance held by the Jennette family trust. Bank of The Bahamas, in unveiling its 2020 first quarter results, confirmed Mr Gomez’s previous assertion that the latter had lodged an appeal against the ruling on October 22, 2019. The BISX-listed institution, in the meantime, filed its defence to the claim as required on October 25. “The related provision is maintained in the financial statements,” Bank of The Bahamas said. “The bank has filed the necessary applications to set aside the default judgment, and to set aside the said damages. “The bank has also filed papers to stay the enforcement of damages and, in certain circumstances, to strike out enforcement steps. Management considers that adequate provision has been made in these financial statements for any loss that might ultimately be determined.” Elsewhere little has changed, with Bank of The Bahamas’ non-performing loans equivalent to 25.78 percent or more than a quarter of its net credit book, and representing a slight increase on the 25.37 percent at end-June 2019. Kenrick Braithwaite, Bank of The Bahamas’ managing director, focused on the positive in his message to shareholders. “After five years of consecutive net losses, the bank returned to profitability during its fiscal year 2018, continued in the
fiscal year 2019, and during this current fiscal year 2020, the bank recorded net income of $0.5m for the first quarter ended September 30, 2019,” he wrote. “Our focus remains providing more sustainable growth opportunities to ensure the bank’s success over the long-term, and to build a brand that restores trust, empowers customers and promotes responsible banking.” Turning to the specifics, Mr Braithwaite added: “The positive variance in net interest income was primarily due to an increase in interest revenue by $0.6m, primarily from consumer loans interest income as a result of the Bank’s consumer loans campaign, and lower interest expense by $0.3m due to certain interest rate reduction and the continued shift in the deposit portfolio composition from higher yielding to lower yielding deposit products. “The bank recorded increases in its operating expenses by $0.8m or 11.24 percent, parallel with its initiative to support the planned growth.”
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PAGE 4, Tuesday, November 12, 2019
THE TRIBUNE
Loretta: The Bahamas ‘should worry’ on Defence Force deal
FROM PAGE ONE (BEC) bribe case, she called on the current and future governments to properly protect taxpayers by ensuring “value for money” with all contracts. “I really had a lot of questions regarding that,” she recalled of the Defence Force fleet deal. “If I’m not mistaken they paid $8m more, and I questioned why that was given that the number of boats was less but they [the Christie administration] were paying a higher amount.
“They were very dismissive and very vague was to why the numbers changed. It raised a lot of concerns for me, and here we are today understanding that some probe is going on into that.” Mrs Butler recalled that the last Ingraham administration planned to spend $132m on acquiring 11 new Defence Force vessels, but its successor - which ultimately signed the contract with Damen - purchased just nine for a higher $149m sum. Asked whether she felt vindicated by developments, Mrs Butler-Turner replied:
“Yes, absolutely sir. That’s definite. It will be interesting to see what comes out of this investigation. At least we were not there sitting on our laurels. We were scrutinising how they were spending the public’s money and trying to hold them to account. I do hope something comes out of this. “Seeing that we were in Opposition at the time this deal was concluded, and in keeping with the questions around this questionable transaction, the government should certainly be very cooperative with the Dutch investigation. “These international agreements we sign must be looked at very closely, and we must be diligent in ensuring the people’s money is used wisely and we get value
for what we spend. This one [the Defence Force] deal is of major concern as it’s a large amount of money unaccounted for, and we must know what that $8m is about.” At $232m, the “Sandy Bottom” project contract with Damen Shipyard will have been one of the largest public procurement tenders issued in recent years. It represented a total re-equipping of the Defence Force, providing it with the fleet and upgraded bases deemed necessary to secure The Bahamas’ maritime borders against illegal immigration, drug and weapons smugglers, and foreign fisheries poachers. Dutch investigators first raided Damen, the Netherlands’ largest shipyard,
NOTICE NOTICE is hereby given that WILSON DORTILUS , of Blue Hill Road Nassau, New Providence, The 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 5th day of November 2019 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
in 2017 in relation to the probe. It is understood to centre on $13m in commissions that the government allegedly paid to a Barbados-based company, NSG Management & Technical Services Ltd, which acted as Damen’s local agent in negotiations with The Bahamas and other Caribbean countries. The commissions paid by The Bahamas were broken down into $6.6m in 2014, $4.7m in 2015 and $2.94m in 2016. These payments represented more than 12 percent of the total contract value, and were immediately detected as a red flag by Damen’s external auditors, Ernst & Young (EY), not least because they broke the ship builder’s own rule that such commissions not exceed five percent of the work. The auditors were also unable to determine what work NSG Management & Technical Services had performed to warrant earning such lucrative commissions, and the company and its principal - UK citizen, Stephen Robert Hobson - were uncooperative with inquiries. It is believed that some of the government’s payments to Damen on the “Sandy Bottom” contract may have
been routed back to NSG Management & Technical Services and then used to make the alleged bribes. NSG’s financial statements for 2014 and 2015 showed it paid $11.8m in 2014 and 2015 to SRH Consultancy Services Inc, a Bahamian incorporated company which lists Mr Hobson as its president/director. No explanation was provided for this transfer, which was said to have been undertaken to pay commissions and consultancy fees. “I think we should be very concerned,” Mrs ButlerTurner told Tribune Business of the allegations. “This is not something at a low level where we can say somebody did something. This involves decisions made at the highest level of governance, and this is where the buck will stop eventually should something materialise out of this. “It can leave quite a blemish on this country’s reputation when you see these things happening with regularity... If a huge contract like this raises questions we have to examine how our business is being conducted, and ensure it is done in a more transparent way.”
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, LAVARDO MORLEY and KHADEEJHA PATRINA SMITH of Freeport,Grand Bahamas, Parents of TREVEARES KHERHON DANIEL FORBES intend to change my child’s name from TREVEARES KHERHON DANIEL FORBES to CRAIG LEON MORLEY. If there are any objections to this change of name by Deed Poll, you may write such objections to the Deputy Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.
NOTICE NOTICE is hereby given that DEMAIN DETROY FERGUSON 91B Tambrind Street, Freeport, Grand Bahama, is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 5th day of November, 2019 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
THE TRIBUNE
Tuesday, November 12, 2019, PAGE 5
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FOOD AND BEVERAGE JOB OPPORTUNITIES A cruise passenger private island destination is seeking to fill the following Food and Beverage positions. These individuals will be responsible for ensuring outstanding operating results to ensure guests receive the highest level of food and beverage service at all times according to company policies and standards.
FOOD AND BEVERAGE DIRECTOR This individual will be responsible for the smooth running and financial success of the Food and Beverage department to ensure the highest level of standard and service provided to customers. This position also takes responsibility for creating and maintaining a professional operation, controlling expenses and supervising the F&B team. Responsibilities Include but are not limited to the following: • Consistently offer professional, friendly and engaging service. • Lead and manage the day to day operations of the Food & Beverage department ensuring all service standards are followed. • Oversee the selection, training, development as well as supervision of all F&B staff to ensure career growth. • Drive innovative promotions, menus and concepts while creating menus that satisfy guests. • Create event-specific menus for occasions such as banquets, conventions, and catered meetings. • Ensure sanitation and safety where food is prepared. • Lead and support the Food & Beverage departments in the achievement of the Company’s financial and operational targets • Implement effective control of food, beverage, labour and operating expenses throughout the F&B department to increase profits. • Ensure the implementation of standards in guest service and satisfaction. • Directly responsible for purchasing and inventory management. • Communicate with vendors to ensure the best products and cost. • Able to work effectively with a management team Education/Experience/Skills • Minimum of a Bachelors Degree in Food and Beverage Management • Ten year’s experience as Director of Food and Beverage • Experience as a Chef, Restaurant Manager and Banquet Manager a plus • Previous Food & Beverage experience in a senior leadership role required • Excellent written and oral communication skills • Computer literate in Microsoft Window applications required • Knowledge of restaurant management software. • Strong interpersonal and problem solving abilities • Highly responsible & reliable • Ability to work well under pressure in a fast paced environment • Ability to work cohesively as part of a team • Ability to focus attention on guest needs, remaining calm and courteous at all times
FOOD AND BEVERAGE MANAGER The Food and Beverage Manager as part of the management team is expected to provide full support to the Director of Food and Beverage. This manager will be responsible for managing all F&B operations and for delivering an excellent guest experience. Responsibilities • Forecast, plan and manage all F&B staff and finance. • Maximize sales and revenue through customer satisfaction and employee engagement. • Managing food costs, uphold menu standards, and control inventory. • Order supplies and maintain par levels. • Ensure equipment are kept operational • Ensure the highest quality for food & beverages preparation in accordance with established standards. • Ensure all food preparation and service areas are kept in accordance with food & beverage, health and safety regulations. • Hire, train, and manage a food & beverage team. • Ensure that guests are welcomed into a clean and presentable environment. Education/Experience/Skills • Bachelor’s Degree in Food and Beverage Management. • 5 or more years of experience in Food and Beverage Management. • Excellent oral and written communication skills. • Experience with hotel management and inventory software. • Excellent problem solving skills • Great customer service skills. • Knowledge of restaurant management software.
Please submit resumes to
jobopportunities242@hotmail.com
PAGE 6, Tuesday, November 12, 2019
THE TRIBUNE
80% of Dorian-hit assets uninsured FROM PAGE ONE from Hurricane Matthew in 2016 impacted the private sector, yet just 20 percent of those businesses and homeowners have full insurance coverage. “Many Bahamians have bought into the myth that says: ‘It won’t happen to us’,” he added. “Unfortunately many of you Nassauvians, in particular, have bought into this thinking. But persons and businesses simply cannot afford to operate with this mentality, as we know that day is coming.
“Persons owe it to their families, businesses owe it to their shareholders, their employees and their customer and to the community at large, to take emergency risk management seriously.” Mr Turnquest called on accountants to help their clients properly manage their disaster-related risks, thereby reducing the financial burden imposed on the government in the aftermath of disasters such as Hurricane Dorian. His comments came after John Rolle, the Central Bank’s governor, forecast that total
Hurricane Dorian losses could exceed $2.5bn at the “low end” - a sum equivalent to 20 percent of The Bahamas’ total economic output. The Bahamas Insurance Association’s (BIA) chairman, Warren Rolle, also said Hurricane Dorian has to-date inflicted “over $1bn in insured losses” on Bahamian insurers, with some industry executives suggesting this figure may rise to between $1.5bn to $2bn. Meanwhile, Mr Turnquest confirmed that the Government’s projected fiscal deficit for 20192020 may balloon by
$450m. While the Minnis administration had “brought the annual deficit from five percent of GDP down to one percent last year”, Mr Turnquest said the Government was on track to deliver a deficit equivalent to 0.5 percent of GDP - around $50m-$60m - and was “even looking forward to a surplus” pre-Dorian. Preliminary projections for the deficit now place it anywhere between $550m to $580m, up from the $137m that was forecast in the May budget and back close to five percent of GDP.
Mr Turnquest also said the government had invested $1m into a disaster relief fund via a line item in the annual budget for the last two years, generating an accumulated $2m. He added that once the accrued expenses have been paid down, the government will “begin budgeting and setting aside in real dollars between 0.5 percent and 1 percent of GDP” that will go towards sustaining this fund in order to have a pool of restricted sovereign investment funds that will be self-sustaining. He asked accountants to speak with the commercial
To advertise in The Tribune, contact 502-2394
Position Available If you: • Possess good working skills • Have good oral and written communication skills • Are able to work Flexible Hours Main Responsibilities: • Report inconsistencies with company rules and regulations to Supervisor • Provide written reports on a regular basis • Investigate compliance disputes • Conduct spot checks • Liaise with law enforcement officers to ensure proper reporting violations • Ensure security procedures are adhered to • Conduct field investigations to ensure compliance with company rules and regulations • Investigate violations • Conducts surveillance to ensure all regulations are adhered to • Provide temporary solutions to minor problems • Any other duties assigned DOCUMENTS REQUIRED 1. Copy of your valid Bahamian Passport 2. Copy of your valid NIB Smart Card 3. Copy of your Police Record 4. 2- References 5. 2- Recent Passport photos Email to
jobs2018bah@gmail.com Deadline: November 18th, 2019
banking sector in order to come up with “disaster relief clauses” in loan documents, so that in the event of a disaster principal payments can be suspended for at least two years and interest payments can be capitalised. Urging the private sector not to be “penny wise and pound foolish” by failing to fully insure, Mr Turnquest also warned that too few companies knew enough about business interruption insurance. “There is no better case study than Hurricane Dorian,” he added. “Very few companies can finance the cost of asset replacement much less revenue loss. In the short to medium-term recovery phase after a catastrophic disaster, the impact on future cash flows can be devastating at a time when employees and business owners need resources at their disposal to recover. “There is a private sector component that has been exposed by this storm not many have considered, and that is the responsibility of a business to its employees. As pointed out by the Bahamas Chamber of Commerce and Employers Confederation, many businesses have found themselves in an impossible moral dilemma. “In the face of business interruption, tremendous demand for cash resources to secure damaged property and begin clean-up and reconstruction, employees demand salary payments or severance in order to meet their own needs. “So when the business needs its cash reserves the most to get the business open, they face large downtime social costs with no revenue. It is a real dilemma that businesses must plan for and be prepared to responsibly address.”
THE TRIBUNE
Tuesday, November 12, 2019, PAGE 7
Liz Weston: What to do if your parents need financial help BY LIZ WESTON | ASSOCIATED PRESS MOST parents in the US provide some sort of financial support to their adult children, multiple surveys have found. But often, financial aid goes the other way. A 2015 survey by TD Ameritrade found 13% of American adults provided financial support to a parent. Millennials were far more likely than older generations to report they were helping their folks. Of people born between 1981 and 1996, 19% helped support their parents, compared with 13% of Gen Xers (1965 to 1980) and 8% of baby boomers (1946 to 1964). Sometimes the money is provided happily, or at least without resentment, by those following cultural norms or personal conviction that they owe it to their parents. Other times, financial aid to parents is a source of tension — between parent and adult child, among siblings and between partners. Certified financial planner Austin A Frye had no idea when he married his wife four decades ago that they would one day support her parents. The older couple, now in their 80s, cover their day-to-day expenses with a union pension and Social Security. Frye and his wife cover unexpected expenses and travel for her parents, Frye says, and also pay $15,000 a year for a longterm care policy.
Frye says that though he’s happy to be in a position to help his in-laws, he still wishes they had saved money for their retirement . “They just spent what they made,” Frye says. “They didn’t really plan.” Certified financial planner Kashif A Ahmed, on the other hand, comes from a Pakistani culture where younger people get into arguments about who will have the honor of caring for an older relative. Ahmed said he needed a spreadsheet to coordinate the dozens of relatives who volunteered to help his great-grandparents in their final illnesses. Ahmed invited his mother to move in with him after his father died in 2001. His wife, Simona, an economist who grew up with similar values in Romania, supported the move, and Ahmed’s mother is helping to raise their four daughters, ages 6 to 16. Ahmed says financial advisers from other cultures often have trouble grasping the deep sense of obligation. He’s heard peers criticise clients who aren’t saving enough for retirement or are neglecting other goals while supporting parents, saying the clients don’t “get it”. “I’ll say, ‘No, no, no. You don’t get it,’ “ Ahmed says. Balancing competing goals is what financial planning is all about. If you’re supporting a parent or
think you may in the future, the following steps could help make the balancing act a bit easier. TALK TO YOUR PARTNER. If you’re married or in a committed relationship, it helps to get on the same page about how much you’re willing and able to give. Brainstorm different scenarios, such as emergency expenses (how much can you give, and what constitutes an emergency?) or long-term care (can you provide care in your home or help pay for in-home or nursing care?). If you’re not clear what you can afford, a consultation with a financial planner could help. If you don’t have a partner, talking to a trusted friend or a financial planner can help you clarify what you can offer and when. TALK WITH YOUR PARENTS. Just over half of the people supporting parents in the TD Ameritrade survey had ever talked with them about it. Financial planners say that understanding the parents’ financial situation can help you prepare, and might also provide an opportunity for you to reduce their need for your help. You could help them budget, give them a session with a financial planner or check Benefits.gov for assistance programs. You also can let them know how much help you can afford to provide. ROPE IN YOUR
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THE COMPANIES ACT, CH. 308 ________________________________________________________ NOTICE OF CONTINUATION OF LIQUIDATION UNDER THE SUPERVISION OF THE SUPREME COURT _________________________________________________________
PACIFICO GLOBAL ADVISORS LTD. (IN LIQUIDATION) Supreme Court Cause No. COM/com/00077 of 2019
TAKE NOTICE that – 1. The voluntary liquidation of the above-named company (“PGA”) has been continued under the supervision of the Supreme Court of The Bahamas by Order of the Honorable Mr. Justice Ian Winder made on the 28th October 2019. 2. The commencement date of the liquidation of PGA is the 2nd October 2019. 3. Mr. Edmund Rahming of Intelisys Ltd., situate at 2 Caves Professional Center, Caves Village, West Bay Street & Blake Road, Nassau, The Bahamas has been appointed the Official Liquidator of PGA. 4. Callenders & Co. of No.1 Millars Court, Nassau, The Bahamas has been appointed as the Official Liquidator’s Legal Counsel. Dated the 12th day of November A.D., 2019
______________________________ Edmund L. Rahming Official Liquidator
THE COMPANIES ACT, CH 308 NOTICE OF APPOINTMENT OF OFFICIAL LIQUIDATOR PACIFICO GLOBAL ADVISORS LTD. (IN LIQUIDATION) TAKE NOTICE that by Order of The Supreme Court of The Bahamas made on 28th October 2019, pronounced by the Honorable Mr. Justice Ian Winder, the voluntary liquidation of Pacifico Global Advisors Ltd., registration no. 60146 C, whose registered office is situate at Lennox Paton Corporate Services Limited, 3 Bayside Executive Park, West Bay Street, P.O. Box N-4875, Nassau, N.P., The Bahamas, was ordered to be continued under the supervision of the Supreme Court in accordance with The Companies Act.
AND FURTHER TAKE NOTICE that Mr. Edmund L. Rahming of Intelisys, No. 2 Caves Professional Centre, Caves Village, West Bay St. & Blake Road, P.O. Box SP-64064, Nassau, The Bahamas, has been appointed the Official Liquidator of the Company.
Dated the 12th day of November A.D., 2019
_______________________________ Edmund L. Rahming Official Liquidator
SIBLINGS, IF YOU HAVE THEM. Even if they can’t contribute financially, they may be able to help in other ways: running errands, taking parents to the doctor, handling bill paying and other paperwork, or providing respite care. TAKE CARE OF YOURSELF. You may have to delay retirement, buying a house or having kids to support your parents. Many people do, according to the survey. But you should have a plan to eventually reach your own goals. Unlike your parents, you may have only yourself to rely on when you’re older.
PAGE 8, Tuesday, November 12, 2019
THE TRIBUNE
China’s Xi on investment drive in EU member Greece ATHENS Associated Press
CHINA and Greece signed 16 bilateral agreements yesterday outlining co-operation in a broad range of sectors during a visit by Chinese President Xi Jinping aimed at furthering a major global investment initiative inside the European Union.
CHINA’s President Xi Jinping inspects the guard of honour by Evzones outside the Presidential palace in Athens yesterday.
China’s state-owned shipping giant Cosco controls Greece’s largest port of Piraeus, near Athens, and Beijing is keen to boost Chinese investment in Greece as part of its global “Belt and Road” investment initiative. “Both sides see China and Greece as natural partners for building the Belt and Road,” Xi said after meeting with Prime Minister Kyriakos Mitsotakis. “We would like to mesh the Belt and Road initiative more closely with the development strategy of this country.” Xi said both countries would “fully leverage” Piraeus’ shipment capabilities and strengthen the China-Europe Land-Sea Express Line, a trade route between China and Europe that on land connects Piraeus with Budapest in Hungary. Mitsotakis said the aim was for Piraeus to become not just the largest port in the Mediterranean but the largest port in Europe, and he said he appreciated that China “supported Greece when Greece was going through its economic crisis”. The prime minister said
Greece recognises China “not only as a great power but as a country that with difficulty has gained a leading geostrategic, economic, and political role”. Xi also met with President Prokopis Pavlopoulos before he and Mitsotakis visited the Cosco facility in Piraeus. Greece is still struggling to rebound from a deep and protracted financial crisis that saw its economy shrink by 25 percent. The country and its new conservative government are keen to attract overseas investment despite concerns from some of Athens’ Western allies over the rapid expansion of China’s global influence. The 16 government and business agreements signed between the two countries Monday include sectors as diverse as extradition, agricultural exports, education, energy, the airline industry and additional Cosco investments in Piraeus. The agreements also include the opening of a Bank of China branch in Athens, a representation office of the Industrial and Commercial Bank of China in Athens and an office of the China Development Bank.
“It is a road we are opening, that will soon become a highway,” Mitsotakis said. The Greek prime minister traveled to Shanghai last week to meet Xi at the 2019 China International Import Expo and will be visiting China again next spring. In April, Greece joined a Chinese trade initiative launched seven years ago that includes mostly central and eastern European countries. Thousands of Chinese investors have snapped up apartments around Athens and other Greek cities under a so-called “golden visa” scheme that offers a five-year residence permit to buyers who spend more than 250,000 euros ($275,750) on the local property market. The increased interest from Chinese investors combined with a burgeoning Airbnb market have led to a spike in rents in many parts of the Greek capital and other cities. Greece is also becoming increasingly popular with Chinese tourists; Mitsotakis said the aim was for 500,000 Chinese tourists to visit the country in 2021.
EU LABORS TO KEEP NUCLEAR DEAL ALIVE AFTER NEW IRAN MOVES BRUSSELS Associated Press
EUROPEAN Union foreign ministers yesterday affirmed their support for the nuclear deal with Iran, after the Islamic Republic began enrichment work at its Fordo site in a fresh act of defiance that seems likely to spell the end of the painstakingly crafted international agreement. At talks in Brussels, the
MARKET REPORT www.bisxbahamas.com
(242) 323-2330
MONDAY, 11 NOVEMBER 2019
(242) 323-2320
ALL SHARE INDEX: CLOSE: 2,200.36 | CHG: -10.14 | %CHG: -0.46 | YTD: 90.91 | YTD%: 4.31 BISX LISTED & TRADED SECURITIES 52WK HI 4.45 22.65 7.00 6.10 2.60 2.00 5.47 11.75 6.17 4.64 12.40 2.81 3.85 10.21 7.51 16.90 9.40 3.63 14.20
52WK LOW 3.65 20.91 4.90 4.46 1.01 0.22 2.00 9.30 6.15 3.95 6.75 2.35 1.76 7.51 6.10 12.10 6.41 3.01 13.01
SECURITY AML Foods Limited APD Limited Bahamas Property Fund Bahamas Waste Bank of Bahamas Benchmark Cable Bahamas CIBC FirstCaribbean Bank Colina Holdings Commonwealth Bank Commonwealth Brewery Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank Finco Focol J. S. Johnson
SYMBOL AML APD BPF BWL BOB BBL CAB CIB CHL CBL CBB CWCB DHS EMAB FAM FBB FIN FCL JSJ
1000.00 1000.00 1000.00 1000.00
1000.00 1000.00 1000.00 1000.00
Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Class A Focol Class B
CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB
PREFERENCE SHARES
1.00 10.00 1.00
1.00 10.00 1.00
CORPORATE DEBT - (percentage pricing) 52WK HI 100.00
52WK LOW 100.00
115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
52WK HI 2.27 4.31 2.07 194.86 158.57 1.65 1.82 1.74 1.21 8.01 9.60 6.83 11.39 12.30 10.68 10.00 8.69 11.79
52WK LOW 1.67 3.04 1.68 164.74 116.70 1.58 1.69 1.66 1.09 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) +
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)
MUTUAL FUNDS
MARKET TERMS
LAST CLOSE 3.68 17.43 6.00 5.92 2.46 1.80 4.70 11.06 6.16 4.12 8.55 3.43 3.85 9.64 7.51 16.59 9.33 3.54 14.00
CLOSE 3.68 17.43 6.00 6.10 2.46 1.80 4.70 11.06 6.16 4.12 8.55 3.43 3.85 9.60 7.51 16.90 9.33 3.20 14.00
CHANGE 0.00 0.00 0.00 0.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.04 0.00 0.31 0.00 -0.34 0.00
1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
LAST SALE 100.00
CLOSE 100.00
CHANGE 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
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 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
VOLUME 500 370 1,500
250 15,000 100
2,000 550 10,000
VOLUME
NAV 2.27 4.30 2.07 193.72 158.42 1.65 1.82 1.74 1.19 8.23 10.10 6.85 11.24 12.28 10.74 9.92 8.68 11.38
EPS$ 0.239 0.932 1.760 0.369 0.070 0.000 -0.438 0.722 0.449 0.184 0.140 0.102 0.467 0.646 0.728 0.816 0.939 0.203 0.631
DIV$ 0.170 1.260 0.000 0.260 0.000 0.020 0.000 0.720 0.220 0.120 0.000 0.434 0.060 0.328 0.240 0.540 0.200 0.120 0.610
0.000 0.000 0.000 0.000 0.000 0.000 0.000
0.000 0.000 0.000 0.000 0.000 0.000 0.000
P/E 15.4 18.7 N/M 16.5 N/M N/M -10.7 15.3 13.7 22.4 61.1 33.6 8.2 14.9 10.3 20.7 9.9 15.8 22.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
YIELD 4.62% 7.23% 0.00% 4.26% 0.00% 1.11% 0.00% 6.51% 3.57% 2.91% 0.00% 12.65% 1.56% 3.42% 3.20% 3.20% 2.14% 3.75% 4.36% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%
INTEREST Prime + 1.75%
MATURITY 19-Oct-2022
6.95% 4.00% 4.25% 4.25% 4.50% 4.50% 6.25% 6.25% 4.00% 4.25% 4.50% 6.25% 3.50% 3.88% 4.25%
20-Nov-2029 30-Jul-2018 16-Dec-2019 30-Jul-2020 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2018 26-Jun-2020 26-Jun-2022 26-Jun-2045 15-Oct-2018 15-Oct-2020 15-Oct-2022
YTD% 12 MTH% 2.77% 3.84% 1.38% 3.46% 2.03% 2.76% 4.99% 6.20% 7.18% -0.08% 2.88% 3.80% 4.56% 6.50% 3.35% 4.17% 5.77% 7.89% 7.17% 8.76% 11.07% 12.58% 3.50% 4.96% 8.92% -0.97% 5.22% 5.44% 2.95% 2.64% -0.71% 0.16% 7.40% 2.70% 10.20% 1.30%
NAV Date 30-Sep-2019 30-Sep-2019 27-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Sep-2019 30-Mar-2019 30-Mar-2019 30-Mar-2019
YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | COLONIAL 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333
ministers mulled what action to take as they awaited a new report from the International Atomic Energy Agency later Monday on whether Iran is still complying with its commitments. EU foreign policy chief Federica Mogherini said that the ministers underlined their “full commitment to the agreement that remains crucial for our security, even if it’s increasingly difficult to preserve it. We will continue our efforts to have a full implementation of the agreement”. The EU powers that signed the 2015 Iran nuclear deal — Britain, France and Germany — were due to hold talks later yesterday in Paris to discuss the next steps once the UN’s nuclear watchdog issues its latest findings. A joint commission meeting of all the signatories is likely to be held in coming days. “We want to preserve the
(deal), but Iran must finally return to its commitments and comply with them, otherwise we will reserve the right to use all mechanisms that are set out in the agreement,” said German Foreign Minister Heiko Maas. The EU sees the nuclear pact as a key component of regional and global security and has struggled to stop it from unraveling since President Donald Trump unilaterally pulled the United States out of it over a year ago, triggering debilitating economic sanctions against Iran. “It’s a great agreement and we need to keep it alive,” Slovakia’s foreign minister, Miroslav Lajcak, told reporters. But it remains unclear what more the EU can do as Iran’s economy buckles under the weight of the sanctions, apart from renewing its appeals for restraint and dialogue.
Request For Proposals EXTERNAL AUDIT SERVICES YEARS ENDING 30 JUNE 2016, 2017, 2018, 2019 AND 2020 This request for proposal invites proposal from suitably qualified firms to conduct the annual audit of the financial statement of the Straw Market Authority for the years ending 30 June 2016, 2017, 2018, 2019, and 2020. Prospective firms may obtain and review the prior Audited Financial Statements of the Straw Market Authority prior to submitting their proposals. Proposals are to be submitted in a sealed envelope on or before Friday 30 November 2019 to the following address: PROPOSAL FOR AUDIT SERVICES Managing Director Straw Market Authority Woods Rodgers Wharf New Providence Bahamas