Business Review

Introduction In July last year under the caption ‘No such thing as a free chow mein’ I wrote critically of the process leading up to the decision to undertake a proposed expansion project at the Cheddi Jagan International Airport.

Introduction For several years I have drawn attention to the matter of annual reporting by the Cheddi Jagan International Airport Corporation (CJIA), an entity established under the Public Corporations Act.

Introduction Describing its 2012 performance as riding on the back of a growing economy, the Guyana Bank for Trade and Industry Limited (GBTI) will be holding its Annual General Meeting for 2012 at its Kingston Office on Monday June 10 at 6 pm.

Introduction This article draws heavily on a commentary in Ram & McRae’s 2013 Budget Focus.

Introduction Guyana joined the Caribbean Financial Action Task Force (CFATF) in 2002, twelve years after it was established in May 1990.

Introduction To avoid getting caught up in a backlog of annual reports, Business Page today reviews the annual reports of three of Guyana’s public companies – Sterling Products Limited which held its annual general meeting on April 19, Caribbean Container Incorporated (CCI) which held its annual general meeting on April 30 and Guyana Stockfeeds Limited whose AGM is scheduled for May 23.

Introduction Following this column’s review of the 2012 Annual Report on the Demerara Tobacco Company Limited in which I stated that I am a small shareholder (500 shares) in the company, a colleague of mine criticised me for profiting from a company whose product is now known to be a killer.

Introduction The conglomerate, Demerara Distillers Limited, which has as its flagship the world famous El Dorado rum, will be holding its annual general meeting next Friday April 26 when the directors will report on the performance and state of affairs of the parent company and its ten subsidiaries and one joint venture.

Introduction I closed last week by introducing a table which set out the transactions between Demtoco and other companies in the group.

Introduction: The Demerara Tobacco Company Limited (Demtoco),  held its Annual General Meeting this past Tuesday April 2, 2013, kicking off the season of annual general meetings of Guyana’s public companies with a December 31 year end.

Introduction: For decades, perhaps in some cases even close to a century, family businesses have formed the backbone of the Guyana economy.

Introduction I take these words not from Dr. Roger Luncheon who used it around the time of the Agricola protests but from the American boxing announcer who trademarked it.

Conclusion Introduction Well, Mr Brassington has done it again. Like he did to me over the Berbice River Bridge Company, he wanted me to hold back a column while he committed NIS money to the Berbice Bridge.

Introduction Earlier this week I sent to Mr Winston Brassington, the head of Atlantic Hotel Inc, (AHI) the company financing the construction of the hotel complex a number of questions dealing mainly with the construction phase.

Part 2 Introduction In the first part of this article I wrote that I did not see a copy of the final contract between Atlantic Hotel Inc (AHI) and SCG International (Trinidad and Tobago) Limited (SCG/the contractor) for the construction of the Kingston hotel property financed by the Government of Guyana, owned by AHI and proposed to be managed by and operated under the name of Marriott, the international hotel chain.

Introduction The so-called Marriott Hotel, a scheme conceived by former President Bharrat Jagdeo − after one of his friends failed in his bid to buy the Guyana Pegasus – blessed by Mr Jagdeo’s successor President Ramotar, facilitated by Dr Ashni Singh, his Finance Minister and Chairman of National Industrial and Commercial Investments Limited (NICIL), executed by Mr Winston Brassington, NICIL’s CEO, and defended by political heavyweights like Drs Luncheon and Gopaul, puts in the shade the questionable transactions undertaken in the name of the people of Guyana since 1992.

Introduction The quotation taken from a judgment of US Supreme Court Judge Wiley Blount Rutledge is as true today as when it was handed down in a case nearly seventy years ago.

I have always been perplexed why companies in Guyana consistently ignore one of the most important considerations among their shareholders.

Introduction Today I return to the article on NICIL (National Industrial & Commercial Investment Ltd) which I started two weeks ago but which I interrupted to conclude my 20th anniversary piece on the banking system.

Conclusion Today I return to and conclude the topic started on December 16, 2012 to mark the 20 year anniversary of Business Page.