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Chinese contractor advanced $2 billion for Marriott Hotel

 

November 9, 2012 | By | Filed Under News

 

The Chinese contractor involved in the Marriott Hotel was advanced US$10M (G$2B) last year, despite ongoing objections to the project by the opposition parties in Parliament.

According to released audited financial statements of Atlantic Hotel Incorporated (AHI), the special purpose vehicle (SPV) established to own the hotel project, 20% advance payments was made to Shanghai Construction Group (SCG) Trinidad Ltd, the contractor.


The amount stated in the report is $2,036,724,516.

The planned Marriott Hotel.

 

It is unusual for contractors to be paid more than 10% of the contract cost as an “advance”.


This latest disclosure is made despite a total lack of details as to who the investors are. Neither the Government nor NICIL released any feasibility studies for the project. This project has been severely criticized for its lack of transparency and the alleged use of taxpayers’ money through the unaudited NICIL books. The project is also criticized by hoteliers who have argued that there is unused capacity in other hotels. The main criticism is the Government’s intended competition with the private sector.

Days before the General and Regional Elections last November, the Bharrat Jagdeo administration turned the sod signaling the start of the project at Kingston, west of the current Pegasus Hotel.

The land in Kingston is being cleared and camps have been built by the Chinese company.


The money would be taken from the accounts of NICIL, the same company which is charged with managing undisclosed state assets worth billions of dollars.

On November 16, 2011, a ‘design and build’ contract was executed with SCG and AHI to the value of US$50.9M. It will see the delivery of a 197-room facility built on a turnkey basis.

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It is unusual for contractors to be paid more than 10% of the contract cost as an “advance”.


This latest disclosure is made despite a total lack of details as to who the investors are.

Mitwah
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

FM
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Moses said on television that he went to California to consult with Chinese with regards to Bio Fuel. He did that with love in his heart and never got a penny. Moses, you sare NOT talking to FOOLS and one more thing, come over and sign the Contract to purchase The Brooklyn Bridge!!!!

Nehru
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Only wan dunce like you guh believe jagdeo cyan mek wan house of 2 mill US with wan Guyana dallah salary. Only wan fool like you cyan believe Irfat can mek wan house fuh over 100mill guyana dallah wid minista wuk. 

FM
Originally Posted by Nehru:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Moses said on television that he went to California to consult with Chinese with regards to Bio Fuel. He did that with love in his heart and never got a penny. Moses, you sare NOT talking to FOOLS and one more thing, come over and sign the Contract to purchase The Brooklyn Bridge!!!!

 

Daag shit is daag shit...yuh still talking shit!!!

FM
Originally Posted by PRK:
Originally Posted by Nehru:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Moses said on television that he went to California to consult with Chinese with regards to Bio Fuel. He did that with love in his heart and never got a penny. Moses, you sare NOT talking to FOOLS and one more thing, come over and sign the Contract to purchase The Brooklyn Bridge!!!!

 

Daag shit is daag shit...yuh still talking shit!!!

Hey DAAGMAN and a Crabdaag wan, learn to read and understand. Video Tape even you cant understand???

Nehru
Originally Posted by Nehru:
Originally Posted by PRK:
Originally Posted by Nehru:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Moses said on television that he went to California to consult with Chinese with regards to Bio Fuel. He did that with love in his heart and never got a penny. Moses, you sare NOT talking to FOOLS and one more thing, come over and sign the Contract to purchase The Brooklyn Bridge!!!!

 

Daag shit is daag shit...yuh still talking shit!!!

Hey DAAGMAN and a Crabdaag wan, learn to read and understand. Video Tape even you cant understand???

 

Heheheh...here come de shithead genius. 

FM
Originally Posted by PRK:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Only wan dunce like you guh believe jagdeo cyan mek wan house of 2 mill US with wan Guyana dallah salary. Only wan fool like you cyan believe Irfat can mek wan house fuh over 100mill guyana dallah wid minista wuk. 

Yu continue fly you ugly ass mouth and somebady go sue yu fu wah yu gat and wah yu go get. As a citizen of Guyana, why don't you make an appointment with these 2 men and try to discuss their finances and the source of their finances?
As a student, I am confident your teachers are having a very difficult time penetrating you thick skull. I am sure you are always the class idiot who wears the dunce cap. On August 28, 2013, I'll remember to send you a mirror.

FM
Originally Posted by skeldon_man:
Originally Posted by PRK:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Only wan dunce like you guh believe jagdeo cyan mek wan house of 2 mill US with wan Guyana dallah salary. Only wan fool like you cyan believe Irfat can mek wan house fuh over 100mill guyana dallah wid minista wuk. 

Yu continue fly you ugly ass mouth and somebady go sue yu fu wah yu gat and wah yu go get. As a citizen of Guyana, why don't you make an appointment with these 2 men and try to discuss their finances and the source of their finances?
As a student, I am confident your teachers are having a very difficult time penetrating you thick skull. I am sure you are always the class idiot who wears the dunce cap. On August 28, 2013, I'll remember to send you a mirror.

 

De story simple. Let dem disclose asset and liability from de time dem tek up office and leff office. I will bet meh money dem tek nuff nuff kick back.

FM
Originally Posted by PRK:
Originally Posted by skeldon_man:
Originally Posted by PRK:
Originally Posted by skeldon_man:
Originally Posted by PRK:

Dem get the kick back money from dem Chinee already. Dem gat to proceed. 

Yu no fu shure dem gat kickback? Yu bin deh wen de kick back money pass han?

if yu no fu shure, yu shuld gan to de police or Grainga and repot dis. Yu might get police commishna wuk. Yu ah fly yu mouth too much.

Only wan dunce like you guh believe jagdeo cyan mek wan house of 2 mill US with wan Guyana dallah salary. Only wan fool like you cyan believe Irfat can mek wan house fuh over 100mill guyana dallah wid minista wuk. 

Yu continue fly you ugly ass mouth and somebady go sue yu fu wah yu gat and wah yu go get. As a citizen of Guyana, why don't you make an appointment with these 2 men and try to discuss their finances and the source of their finances?
As a student, I am confident your teachers are having a very difficult time penetrating you thick skull. I am sure you are always the class idiot who wears the dunce cap. On August 28, 2013, I'll remember to send you a mirror.

 

De story simple. Let dem disclose asset and liability from de time dem tek up office and leff office. I will bet meh money dem tek nuff nuff kick back.

Weh yu ass set deh? I better quit b4 I get into trouble. 

FM
Originally Posted by Mitwah:

 

LHM!!!!

Wow, that building actually held together.  The inhabitants were very lucky.  In an earthquake, they usually collapse and crush the people to death.

FM

Tumbling tower of China: Amazing pictures of 13-storey block of flats that toppled over

By Daily Mail Reporter

 

 

A newly built 13-storey residential building collapsed in Shanghai yesterday, killing one worker.

The block of high-rise flats toppled onto its side in the muddy construction site raising concerns that building safety standards are being overlooked in favour of fast construction in China's rush to modernise.

The building appeared to be almost complete with fitted windows and a finished, tiled facade. Other similar-looking blocks in the same property development were still standing nearby.

 

Crash: The newly built block of flats lies flat on its side after tumbling down in Shanghai leaving one person dead

Crash: The newly built block of flats lies flat on its side after tumbling down in Shanghai leaving one person dead

 

Residents gather to take photos of the collapsed building from across the river

Residents gather to take photos of the collapsed building from across the river

Shoddy construction and the use of sub-standard materials is a concern in China's construction sector as the country scrambles to build out cities and finish massive infrastructure projects to keep pace with fast economic growth.

Construction-related accidents last year included the collapse of a steel arch on a new railway bridge, which killed at least seven and a crane which fell on a nursery school killing five.

The collapse of dozens of schools during last year's Sichuan earthquake also led to a wave of public outrage about corrupt officials and construction firms.

 

Exposed pilings lie in the remains of the building's foundations

Exposed pilings lie in the remains of the building's foundations



 

Mitwah
Originally Posted by Mr.T:

All that is now needed is to stick a Mariot Hotel sign on it.

As I said, you seem to know a lot, even before events occur.  Maybe you should think of applying for a job as an earthquake forecaster.  Are you sure you are 100% human?

FM
Originally Posted by Mr.T:

Guyana next.


During the PNC regime, they also relied heavily on Chinese technology. And every factory they built and equipped with their technology is non existent today.

S
Originally Posted by seignet:
Originally Posted by Mr.T:

Guyana next.


During the PNC regime, they also relied heavily on Chinese technology. And every factory they built and equipped with their technology is non existent today.

Chinese and Indian technology is behind the US and Europe however, it may will be better suited for Guyana.  One still needs to be careful, remember the Skeldon fiasco and the Glass factory.  Overall, Western technology still have an edge, but at a higher price.

FM
Originally Posted by seignet:
Originally Posted by Mr.T:

Guyana next.


During the PNC regime, they also relied heavily on Chinese technology. And every factory they built and equipped with their technology is non existent today.

Do you know why? Because the PPP regime disposed of them and pocketed whatever money they could swipe.

Mr.T
Originally Posted by Mr.T:
Originally Posted by seignet:
Originally Posted by Mr.T:

Guyana next.


During the PNC regime, they also relied heavily on Chinese technology. And every factory they built and equipped with their technology is non existent today.

Do you know why? Because the PPP regime disposed of them and pocketed whatever money they could swipe.

Hehe, you mean like LFSB disposed of the British rail system?

FM
Originally Posted by Mr.T:

I have no idea. Your family made money out of it so you tell us.

Yes we did.  We got one of the engines in exchange for keeping things under raps.  How come you didn't know that?

FM
Originally Posted by seignet:

Does the GOG know that some Chinese constructed building collapses under its own weight.

 

Are we having another Skeldon Estate deal.

Yes this is shaping up to another chinee godee

FM

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