Business Page today continues its review of the annual reports of companies for the year 2011 by covering two of the public companies in the Beharry Group – the Guyana Bank for Trade and Industry
Today we continue our review of the annual reports of two more of the country’s public companies – Caribbean Container Incorporated (CCI) which held its annual general meeting last Friday and the Guyana Stockfeeds Incorporated (Stockfeeds) whose annual general meeting is scheduled for tomorrow.
Demerara Distillers Limited, a conglomerate group comprising several local and overseas companies with manufacturing, trading, banking and trust relationships in Guyana, the region, North America and Europe as well as a joint venture in India and associated companies in Guyana and Jamaica, will be holding its annual general meeting this coming Friday, April 27.
Introduction
In today’s Business Page I conclude the discussion started last week on the announcement by Dr Roger Luncheon that the government has sold the country’s 20% shareholding in the telecommunication company Guyana Telephone and Telegraph Company Limited (GT&T) to an unknown Chinese entity.
Introduction
Even before the debate on the 2012 Budget begins, it is overtaken by an event not outside the control of the government, but well within it, an event that has been in the pipeline for years.
Introduction
The brouhaha over Financial Papers 7 and 8 in the National Assembly has served to expose the state of the public financial management in Guyana.
Introduction
Today’s column concludes the review of the Auditor General Report on the audits of the ministries, departments and regions for the year 2010.
Introduction
I do not share the excitement of the media and the public about the revelations in the Auditor General’s 2010 report supplying further evidence of the excesses, mismanagement and improprieties which have become routine under Dr Ashni Singh’s stewardship of the Ministry of Finance.
“The Contingencies Fund continued to be abused with amounts totaling $550.025 M drawn from the Fund and utilized to meet expenditure that did not meet the eligibility criteria as defined in the Act.”
Introduction
Over the past couple of weeks I have had cause to try obtaining some information on particular companies, information that those companies are required to file with the Registrar of Companies.
Introduction
If Governor Mitt Romney, a leading candidate for the Republican nomination in the US 2012 presidential elections thought that he would neutralise the attacks by his fellow candidates by publicising his 2010 tax returns, he was wrong.
Last week was not a mixed week for the nation. On one day, the front page of the Stabroek News read: ‘PPP/C addressing voter loss’and ‘Granger says [APNU] not afraid of new elections,‘ both reports arising out of press conferences by their respective parties.
Comment
Co-incidences are rarely easy to explain. At the time of launching an award for the best Annual Report by any Guyanese company as one of the activities and initiatives for its 25th anniversary observed last year, this column carried a review of the financial statements of the two operating companies of the Banks DIH group: Banks DIH Limited (‘Banks’), the food and beverage giant, Citizens Bank Limited (‘Citizens’), a 51% owned retail bank and Caribanks Shipping Company Ltd, a dormant company.
Introduction
Nothing concentrates the mind like a deadline. With the date for the convening of the 10th Parliament fast approaching – it must be held within four months of the end of the previous session which ended in the last week of September, 2011 – it is expected that our politicians will soon resolve the uncertainties over who will be the Speaker as well as the simmering questions about the Statements of Poll.
Part 2
Introduction
Today as we celebrate Christmas, a day marked as much for its commercial opportunities as for its religious significance, Business Page concludes a look-back at some of the articles carried in these columns during 2011.
Introduction
This, my closing column for what was a truly eventful, indeed historic year is not about introversion or narcissism but one that was forced by reality.