The New Building Society (NBS) said the decision to hold its Annual General Meeting in Berbice this weekend was taken after a substantial amount of account holders in the county petitioned the society requesting the change in venue.
It is the first time the meeting would be held outside Georgetown but NBS said it recognised the importance of members in every part of the country and that the rotation of meetings would be an option in the future.
In a statement issued yesterday, which the society said was in response to reports in Stabroek News and the Kaieteur News, reference was made to the petition, which the society said was signed by over 275 members. It said the decision to move the AGM could not be considered a move in the dark.
According to the society, Berbice has four branches and a membership of about 30,000 with very substantial savings in deposit accounts of $8.7 billion and an asset base of nearly 30 percent of the total assets of the society.
“The decision therefore, while heeding to the call by a substantial number of members is also based on the society’s effort at sensitising members throughout the country of its activities and providing an opportunity for wider participation of all its members in various parts of the country”, the statement said.
As regards the construction of its new head office, NBS said it would not be blackmailed by anyone to award a contract to a lone bidder, which could compromise the interest of the society. It added that Board Members who have argued for the re-advertisement of the tender process have obtained sound advice from reputable consultants and engineers in the construction industry and were satisfied that there were competent and qualified contractors in Guyana and in an open process one could be obtained to construct the building at a reduced cost.
NBS said that the directors have also been advised of the dangers and risk involved if a lone tender was given consideration owing to the magnitude and the cost involved in the work to be undertaken. The society noted that previously the process where tenders were invited was through the selective tendering process, noting that it was later advised of a number of construction firms, capable of undertaking the work, being excluded from the process.
“It was therefore felt that there should be a final public advertisement inviting tenders… This is seen to have been in the best interest of the society and its members,” NBS stated.
According to NBS, the board had unanimously taken a decision at its February 2008 meeting to re-advertise the process after a proposal was submitted to the society from a reputable construction company at a much lower cost. The society added that it was only after clarifications and discussions, which were sought by the architect, that three members, including two who have since resigned, changed their positions and requested that the contract be awarded to the lone tenderer.
NBS added that it was of the firm view that for such a venture, care must be taken to ensure that the members and the society’s interests were first and foremost protected.
