Trinidad is investing heavily in Guyana.  These guys will put Guyanese investors like Badal out of business.

Do private enterprises need participation from NICIL for their ventures?

ksazma posted:

Do private enterprises need participation from NICIL for their ventures?

https://finance.gov.gy/about-u...ments-limited-nicil/

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990. A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

The primary objectives of the company were that of subscribing for, taking or otherwise acquiring, holding and managing the Government’s shares, stocks, debentures or other securities of any company, co-operative societies or other corporate body. This meant that all Government shareholdings in public corporations and companies including those falling under the Public Corporations Secretariat, and the Co-operative Finance Administration Institutions were to be transferred to NICIL. The objective was to have a unified and systematic management of Government’s shareholdings.

NICIL engages in many activities such as:

• being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
• Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.

NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.

Yesterday, head of NICIL, Colvin Heath-London, and acting Priva-tization Specialist, Rachael Henry, said that Trinuyana was sold 2.16 acres at a cost of over $26 million (US$130,000) per acre. London assured that government evaluators had assessed the parcel of land and this was how the cost was arrived at. He said that expressions of interest for the land were invited in 2017.

 What are your thoughts about the sale of the land ,is it under priced ?

Noticeably there are differences in this investment and the first Marriot Hotel built in Guyana. This the way to go ,let the Private sector be an actor in development.

Django posted:

ksazma posted:

Do private enterprises need participation from NICIL for their ventures?

https://finance.gov.gy/about-u...ments-limited-nicil/

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990. A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

The primary objectives of the company were that of subscribing for, taking or otherwise acquiring, holding and managing the Government’s shares, stocks, debentures or other securities of any company, co-operative societies or other corporate body. This meant that all Government shareholdings in public corporations and companies including those falling under the Public Corporations Secretariat, and the Co-operative Finance Administration Institutions were to be transferred to NICIL. The objective was to have a unified and systematic management of Government’s shareholdings.

NICIL engages in many activities such as:

• being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
• Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.

NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.

Therefore, the AC Marriott as well as the Hilton are not sole private enterprises so shouldn't NICIL disclose what level of participation they have in these ventures?

ksazma posted:

Django posted:

ksazma posted:

Do private enterprises need participation from NICIL for their ventures?

Therefore, the AC Marriott as well as the Hilton are not sole private enterprises so shouldn't NICIL disclose what level of participation they have in these ventures?

Guess you miss the investments by miles , they are only involved in the sale of lands ,stated in the article.

Totally different management principles than the previous management under the former government,who were using graft schemes.

All these transactions is illegal. 

2nd Marriott in Guyana

Opposition Leader Bharrat Jagdeo has called out the David Granger-led Government for its “hypocrisy” as well as lack of transparency surrounding a deal undertaken to construct a new Marriott Hotel in Guyana.

While the APNU/AFC were in opposition, they had heavily criticised the PPP Administration for pioneering the current Marriott hotel; however, on Wednesday, it was announced that the caretaker APNU/AFC Administration made a secret move with the National Industrial and Commercial Investment Limited (NICIL) to facilitate the construction of another hotel under the same brand.
On Thursday, Jagdeo addressed the matter at his weekly press conference, stating that while investors are welcomed in Guyana, the secrecy of the arrangement was surprising.

He pointed out that there are many aspects of the deal which have not been revealed.
Calling the deal, a “campaign strategy” and an elections gimmick by the coalition Govt, the Opposition Leader stated that it is uncertain whether permission was given from Marriott to use the name – a company which manages a string of hotels worldwide. This was confirmed by the investor later on Thursday who admitted that there is no franchise agreement in place.
“We welcome investment in new hotels and we welcome investors to Guyana but what was surprising about this is the secrecy through which the whole arrangement or deal was struck. And so we sought to get some answers about what the land deal was all about, how many land deals were given to the investor and what price; not just for the hotel but for the surrounding areas,” the Opposition Leader informed.

He added, “From what I gather too, no environmental permit has been issued so the Government talked about this project starting next month is designed for campaign purposes because there is no environmental permit as yet. We’ve also sought to find out if Marriott has officially approved this because it’s a laborious process that we had to go through to get Marriott to agree to use their brand in Guyana”.
Moreover, Jagdeo reminded that when the PPP/C Administration had embarked on constructing the current Marriott Hotel, it faced intense levels of scrutiny from the public as well as heavy criticism from the then APNU/AFC Opposition. In fact, the applicants were even taken to court to have the construction of the hotel blocked. The APNU/AFC held several protests in front the Marriott and on the day of its opening its members including some who are now ministers turned up in front of the five-star hotel and confronted Police who attempted to calm the situation.

During the 2015 elections campaign, the coalition party had talked about selling off the multi-million-dollar tourism flagship project as well as making it into a hospital facility. While in Opposition during the 10th Parliament, the APNU and AFC had criticised the construction of the Marriott Hotel and other major projects undertaken by the then People’s Progressive Party/Civic (PPP/C) Administration. They had conducted picketing exercises in front of the hotel from the inception of its construction in 2011. In 2012, Khemraj Ramjattan had introduced legislation to block the PPP’s move to construct the Marriott.

Worthy investment
Reflecting on the highly criticised project, the former President contended that it was a worthy investment.
“You will see some of the very players in Government, how duplicitous they have been…Now this is one of the most profitable Marriotts in the world. The one that we have here in Guyana. It’s covering all its costs and it’s doing extremely well. This just shows you the level of scrutiny and hurdles that we had to overcome to get that Marriott built and the same people who are saying that it’s a ‘choke and rob’ operation…now NICIL has secretly done this and sprung it on us just yesterday (Wednesday)”.
In a statement on Wednesday, NICIL’s acting Privatisation Specialist, Racheal Henry, disclosed the agency and the CEO of Triniyuana Investment Inc, John Aboud, held discussions before arriving at the decision to construct the hotel.

 https://guyanatimesgy.com/deal...k-opposition-leader/

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Django posted:

ksazma posted:

Django posted:

ksazma posted:

Do private enterprises need participation from NICIL for their ventures?

Therefore, the AC Marriott as well as the Hilton are not sole private enterprises so shouldn't NICIL disclose what level of participation they have in these ventures?

Guess you miss the investments by miles , they are only involved in the sale of lands ,stated in the article.

Totally different management principles than the previous management under the former government,who were using graft schemes.

Where did the article did it state that they are ONLY involved in the sale of the land? The article clearly stated that "While NICIL informed that both it and the company were happy with the negotiations and the investment, no details on the terms of the agreement were given." It stated nothing about only being involved in selling a piece of land. And who show up to turn soil on a piece of land they only sell?

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

Bai, Django wutliss. It seems that he is prepared to give his life for the wicked PNC.

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

What NICIL have to do with the family project ?  here is a scenario , i own a piece of land , have the financing, have a franchise for brand of hotel ,do NICIL have to be involved. Help Django out with the loop holes of business investments ,in Guyana.

Django posted:

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

What NICIL have to do with the family project ?  here is a scenario , i own a piece of land , have the financing, have a franchise for brand of hotel ,do NICIL have to be involved. Help Django out with the loop holes of business investments ,in Guyana.

Because of the magnitude of the project and acquisition of additional land. NICIL is government own and is responsible for disposal and renting of government land - hope this helps.

Dave posted:

Django posted:

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

What NICIL have to do with the family project ?  here is a scenario , i own a piece of land , have the financing, have a franchise for brand of hotel ,do NICIL have to be involved. Help Django out with the loop holes of business investments ,in Guyana.

Because of the magnitude of the project and acquisition of additional land. NICIL is government own and is responsible for disposal and renting of government land - hope this helps.

Thank you ,different piece of cake.

Here is how NICIL became Government  owned.

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990.

A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company

pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

Django posted:

Dave posted:

Django posted:

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

What NICIL have to do with the family project ?  here is a scenario , i own a piece of land , have the financing, have a franchise for brand of hotel ,do NICIL have to be involved. Help Django out with the loop holes of business investments ,in Guyana.

Because of the magnitude of the project and acquisition of additional land. NICIL is government own and is responsible for disposal and renting of government land - hope this helps.

Thank you ,different piece of cake.

Here is how NICIL became Government  owned.

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990.

A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company

pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

I thought you will  show this below, since it has more relevance to the question / subject.

NICIL engages in many activities such as:

• being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
• Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.

NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.

Dave posted:

Django posted:

Dave posted:

Django posted:

Dave posted:

ksazma posted:

Django posted:

The Opposition leader can bawl how much he wants ,their models were graft schemes.

Let him prove the illegality.

Bai, you like dem Republican Senators. 

Everything the Coalition do after December 21, 2018 is illegal.

Currently Parliament is dissolve, only the President and opposition stays , ministers has no ministerial powers and surprisingly, this banna don't see anything illegal... this is funny rass. 

Interesting to see what he will say if PPPC was sitting in government and signing away contract when parliament is dissolve and we are in the middle of a election campaign. 

From personal experience NICIL inform us ( our family ) they cannot sign of on a pending project and we have to wait until after election. 

Somebody is getting paid off here big time.

What NICIL have to do with the family project ?  here is a scenario , i own a piece of land , have the financing, have a franchise for brand of hotel ,do NICIL have to be involved. Help Django out with the loop holes of business investments ,in Guyana.

Because of the magnitude of the project and acquisition of additional land. NICIL is government own and is responsible for disposal and renting of government land - hope this helps.

Thank you ,different piece of cake.

Here is how NICIL became Government  owned.

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990.

A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company

pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

I thought you will  show this below, since it has more relevance to the question / subject.

NICIL engages in many activities such as:

• being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
• Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.

NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.

The real issue was when NICIL became 100 % Government owned.

For one to understand the sole purpose why NICIL was established ,one have to go back to Hoyte era and Economic Recovery Program. Perhaps a section of the people are comfortable with the transition from Private Company to Government owned.

Dave posted:

Django posted:

 

 

Here is how NICIL became Government  owned.

NICIL was incorporated as a Private Limited Company under the Companies Act, Chapter 89:01 in July 1990.

A new Companies Act was enacted in 1991 with effect from May 1995 by the Companies Act (Commencement) Order, No. 25 of 1995 and NICIL was registered as a continuing company

pursuant to Section 339 of the new Act in 1998. NICIL is 100 percent owned by the Government of Guyana.

I thought you will  show this below, since it has more relevance to the question / subject.

NICIL engages in many activities such as:

• being the holding company for Government owned minority/majority interests, property management which includes the acquisition / disposal / rental of Government owned properties,
• Monitoring Government’s equity in other companies and acting as agents for other Government agencies in the disposal of properties or management of companies.

NICIL has a Board of Directors that consists of Minister of Finance, the Head of the Presidential Secretariat, the CEO of Go-Invest, an opposition representative and the Executive Director of NICIL.

Exactly my point. NICIL doesn't just turn soil just because they sell a piece of land. Land they currently has no authority to sell given the current paralyzed state of the Coalition.

Django posted:

 

The real issue was when NICIL became 100 % Government owned.

For one to understand the sole purpose why NICIL was established ,one have to go back to Hoyte era and Economic Recovery Program. Perhaps a section of the people are comfortable with the transition from Private Company to Government owned.

Given that no changes have been made in the past 5 years, it is safe to say that the Coalition is comfortable with its current status. What happened with all their grand promises to correct issues?