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October 31 2018

Dr. Ranjisinghi ’Bobby’ Ramroop

Despite the fact that the bulk of the money invested in the Berbice Bridge came from National Insurance Scheme (NIS), Dr. Ranjisinghi ’Bobby’ Ramroop is the largest shareholder.This was confirmed in a missive from Berbice Bridge Company Inc. (BBCI) yesterday.
A chart that was included in the missive, provided details about the ownership of the bridge. It shows that Ramroop, a very close friend of former President, Bharrat Jagdeo, is the largest shareholder.NICIL has 10 percent shares in the bridge, NIS has 20.2 percent, Hand In Hand Fire Insurance has 10, New GPC has 20 percent, Queens Atlantic Investment Inc. has 20 percent and Secure International Finance Co. Limited owns 20 percent.

This chart was provided by BCCI

Brassington’s brother, Michael, is the largest shareholder in Hand in Hand. The Ramroop/Brassington combination therefore puts the ownership of the bridge in the hands of Jagdeo’s close friends.
The BCCI was keen to note yesterday that no single company has a majority share. However, Bobby Ramroop owns two of the companies that each has 20 percent shares.
BCCI said, “The NIS is not the majority shareholder. No single shareholder (Company) owns the majority of shares. In an eight-person Board of Directors, six are ordinary shareholders, including the NIS, one is a preferential shareholder (the NIS) and one subordinated loan holder (including the NIS). The last two categories, preference shares and subordinated loans, have no general voting rights.”
The reality is that these two have the bulk of the money in the bridge, much more than Ramroop’s two companies.
Also, BCCI yesterday condemned this newspaper saying that it published “lies” about the bridge and is ignoring “truths”.

One of the purported “lies” is that the “contract was structured to allow investors with disproportionately small investments to control the asset”. BCCI said this even though, based on its own chart, Ramroop owns more shares than NIS which invested more money.
BBCI said that it is bound by its Concession Agreement under the Berbice River Bridge Act in implementing the tolls charged at the Bridge. The Company said that it has no alternative but to honour the Toll Adjustment Formula prescribed in the Agreement; no discretion in calculating the amount of the toll and is bound by the Toll Adjustment Policy dictating the Formula.
BCCI said that since 2015, respective governments—previous and present—have violated their contractual obligations to implement an annual toll adjustment which would have resulted in “small incremental adjustments instead of the current burdensome level. The Kaieteur News has chosen to ignore this truth.”
BCCI said that the current level of toll adjustment is entirely the fault of the government, not the Company.
BCCI said, “Prior to and since taking office, this government has refused to meet with the BBCI in spite of three (3) requests to do so. The power and the privilege to review or amend the Concession Agreement rest entirely with the government. The Kaieteur News has chosen to ignore this truth.”
“The Kaieteur News has then lied about the shareholding of the Company. The Kaieteur News claims that the ‘majority shares of BBCI is owned by the NIS and control is in the hands of private entities. This is a lie.”
The Kaieteur News claims that “in its first year of operation the BBCI collected GS1.4B in revenue”. This is yet another lie. In its first full year of operation (2009), BBCI earned GS946M. In truth, after nine years of operations, BBCI’s annual toll revenue has never exceeded G$1.372B.
The Bridge Company also said that Kaieteur News lied when it said that “Contractual Agreement was clearly designed to make few people wealthy at the expenses of the masses”.
BCCI said, “First, the six ordinary shareholders are not guaranteed a return on their investment. Their investments are subjected to the risk of the company making a profit and cash flow availability.
“Since BBCI has made no profit, no dividends have been paid to any of the shareholders. Even if a profit is made, the payment of any dividends is at the discretion of the Directors, after taking into account the cash flow position of the company the truth is that from the inception of the Bridge, the NIS, whose investments represent every Guyanese citizen, has earned 94 percent returns on its total investment, i.e. GS2.4B.
Because of the shortfall in revenue resulting from Government’s refusal over the past three years to make toll adjustments, the BBCI has been able to pay the NIS only G$1.73 of the returns which came from its GS2.59B investment in BBCI and G$222M in principle repayments.

Original Post

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Jagdeo and his best friend Bobby...Mansion builders. What a tangled web they weave, on the backs of the Guyanese tax payers. 

When is Jagdeo going to get Berbicians to protest against the Berbice bridge toll increase ?

yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Money talks; bullshit walks.

yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

For your information the supply to the Health Department went thru a bidding process, his Company became the best bidder.

yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Do you expect Bobby's prescription medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Last edited by Tola
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Like de APNU govt more mature dan dem bad minded supporter. Dem mind bad like that Freddie K. Usual guyanese badminded people. Everybady know Jagdoe give Babby special privilege. Babby get contract fram Jagdoe. Nuff, nuff. What dem dem badminded people doan talk bout is Babby could juss rape de kuntry and save all he money he mek and park am in Panama, Miami and Swiss. But de man reinvest in Guyana. Ayoo prefer GPC dey get own by some racial Russian or Chinee investor? Babby gat he fault but all ayoo badminded sk^($#ts doan seem to get what it tek foh mek yuh own business investor. What dat Jagdoe need to do is get Babby foh invest in blackman community and employ blackman in senior management. Me know he does do some of dat at GPC and Guy Times. Black woman run de operation. De man should juss start doin like dem Brazil and Chile and Argentina whiteman dem. Mek money local and send am oversease. Hey hey hey...

skeldon_man posted:
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Skelly, for this reason I don't buy lottery tickets or gamble, because I don't want  to change my life style and lose the feeling I have for the needy, or me personal life kok duk.

Our children worked for what they are today, respected citizens in our town and I am sure our grandchildren will be the same. Our sons were recruited from one job to the next, with good salaries, benefits and vehicle to drive home.   

As you said money corrupts.    

skeldon_man posted:
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

There is a Hindu puranic story about the Lord appearing as beggar and appeared at the door of a rich but stingy Maharaja. He insulted the beggar and said that he has nothing. The Lord said,  " So let it be". 

Django posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

For your information the supply to the Health Department went thru a bidding process, his Company became the best bidder.

You see if that contract was given to Bobby during Jagdeo's reign, everybody would say that is not fair because they are friends. Today Bobby's enemy and naysayers are  willing and have confidence to give him a contract, I thought Bobby Ramroop was Black Listed by the PNC/AFC government. Maybe just like before he was the Best bidder or the only bidder.

skeldon_man posted:
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Tola bhai .. which you prefer.. 

1. Increase toll

2. Waiting 4 hour for the ferry and the pepper sause will spoil.

Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Banna, dat mek no sense, none wah so evva, common or oddawise.  If dah Banna Ramroop suddenly come wid prices way below wah he gave the previous govt, he just handed the govt the case on a silver platter to audit the contracts awarded him by the previous govt and demand clawback.

its either Alyuh lack common sense, alyuh lake book sense, or Alyuh lack technical sense.  Anyway is like yuh lack sense all round. 

The previous govt had lots of problems but ayuh muss learn to discern sense from nonsense.  The fact that this govt awarded him the contract vindicates the previous!!

Now, guh try blow smoke up stchupit people batty!!!

Dave posted:
skeldon_man posted:
Tola posted:

 

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Tola bhai .. which you prefer.. 

1. Increase toll

2. Waiting 4 hour for the ferry and the pepper sause will spoil.

That’s a dumb heartless false equivalence.  Is like asking which method of torture you prefer.  

This is Jagdeo big screwup that put everyone in a predicament.  This will have a bad ending for investors, and dem rass deserve the punishment.  They were fools to put their money in a project the WB said was not viable.   

skeldon_man posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Money talks; bullshit walks.

Exactly. 

It takes money to make money. Bobby took risks and is enjoying the rewards. No envy for the Brudda. 

Nehru posted:

Base, Is Dunda heads!!  DEm mek Stupidee Bill looks like Einstein

Man....izzz weh Alyuh dozz find dem deeze stchupit people to come try blow smoke up people batty?  Some people tink everydady stchupit like dem rass!!

yuji22 posted:
skeldon_man posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Money talks; bullshit walks.

Exactly. 

It takes money to make money. Bobby took risks and is enjoying the rewards. No envy for the Brudda. 

What risk ? become a supplier to government with out any checks and balances added with preferential treatment are considered risk.

Last edited by Django
Baseman posted:
Dave posted:
skeldon_man posted:
Tola posted:

 

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Tola bhai .. which you prefer.. 

1. Increase toll

2. Waiting 4 hour for the ferry and the pepper sause will spoil.

That’s a dumb heartless false equivalence.  Is like asking which method of torture you prefer.  

This is Jagdeo big screwup that put everyone in a predicament.  This will have a bad ending for investors, and dem rass deserve the punishment.  They were fools to put their money in a project the WB said was not viable.   

How would they be punished? They already secured their investment capital by gouging poor Berbicians. This is a pristine example of crony capitalism. Jagdeo also gifted this group another 25 hectares in the area. Not to mention some of them  are the benefactors of the GSX leases.

Baseman posted:
Dave posted:
skeldon_man posted:
Tola posted:

 

Do you expect Bobby's medication will help the Berbice bridge toll increase?      Bhai, put you brain in gear.  

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Tola Bhai, The more money rich people acquire, the more they want. They do not care for the unfortunate. I saw an Indian movie once when I was in Guyana. A beggar went to his gate, he told the beggar he has nothing that he could give him. The beggar shouted, "why don't you come and let us go and beg together".

Tola bhai .. which you prefer.. 

1. Increase toll

2. Waiting 4 hour for the ferry and the pepper sause will spoil.

That’s a dumb heartless false equivalence.  Is like asking which method of torture you prefer.  

This is Jagdeo big screwup that put everyone in a predicament.  This will have a bad ending for investors, and dem rass deserve the punishment.  They were fools to put their money in a project the WB said was not viable.   

Not my fault you don’t have a sense of humour... I was just fk around with Tola. 

Lets get the Jagdeo buddy investment. 

At the time of financing, was there another source who was willing to risk their money and offered a cheaper return. I don’t know... do you.

I recalled Jagdeo asked the government to release the contract and was against the increase. If the man had anything to fear why would he asked such questions. 

Let say John Doe  name was replacing Ramroop as the investor, who had no affiliation with Jagdeo, would you have the same views.

yuji22 posted:
skeldon_man posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Money talks; bullshit walks.

Exactly. 

It takes money to make money. Bobby took risks and is enjoying the rewards. No envy for the Brudda. 

That was not a big risk.   The big risk is the bbce bridge, and datt guh hutt bad bad!!!

Dave posted:

I recalled Jagdeo asked the government to release the contract and was against the increase. If the man had anything to fear why would he asked such questions.

You are aware the contract was released.It's posted on a thread here.

Last edited by Django
Django posted:
Dave posted:

I recalled Jagdeo asked the government to release the contract and was against the increase. If the man had anything to fear why would he asked such questions.

You are aware the contract was released.

Don’t know. 

saw Jagdeo released some paper works and show the depreciation. 

What part of the investment you have a problem with. 

Baseman posted:
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Banna, dat mek no sense, none wah so evva, common or oddawise.  If dah Banna Ramroop suddenly come wid prices way below wah he gave the previous govt, he just handed the govt the case on a silver platter to audit the contracts awarded him by the previous govt and demand clawback.

its either Alyuh lack common sense, alyuh lake book sense, or Alyuh lack technical sense.  Anyway is like yuh lack sense all round. 

The previous govt had lots of problems but ayuh muss learn to discern sense from nonsense.  The fact that this govt awarded him the contract vindicates the previous!!

Now, guh try blow smoke up stchupit people batty!!!

Not necessarily. He can claim market prices were different.

Django posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

For your information the supply to the Health Department went thru a bidding process, his Company became the best bidder.

Was always the best bidder, bai. Give Bobby his bubby.

Baseman posted:
GTAngler posted:
Baseman posted:
Tola posted:
yuji22 posted:

Did the government not recently give Bobby a massive contract to supply Prescription medication to the Health Ministry ? The article was posted here recently.

Regarding the prescription medication  bidding process, I am sure he rass will not charge the price he charged, when Jagdeo was president.  Like leeches on the taxpayers.

Banna, dat mek no sense, none wah so evva, common or oddawise.  If dah Banna Ramroop suddenly come wid prices way below wah he gave the previous govt, he just handed the govt the case on a silver platter to audit the contracts awarded him by the previous govt and demand clawback.

its either Alyuh lack common sense, alyuh lake book sense, or Alyuh lack technical sense.  Anyway is like yuh lack sense all round. 

The previous govt had lots of problems but ayuh muss learn to discern sense from nonsense.  The fact that this govt awarded him the contract vindicates the previous!!

Now, guh try blow smoke up stchupit people batty!!!

Not necessarily. He can claim market prices were different.

And look another stupidly bill to the rescue of the adda stupidly bill.  There is no “market” price so to speak for prescription drugs.  Historical prices are available from the very companies supplying this contract and from any company who supplied previously.  Also reference prices are available through WHO, Oxfam, and other agencies.  

So alyuh two stupidly bill go sit in a carna and blow smoke up waan-an-adda batty!!

I'll leave the batty business to those of you so inclined. I wasn't defending anyone or coming to anyone's rescue. Please note I said "not nesessarily". That does not imply certainty.