508,000 Unit Trust customers
Total assets grow to $21.5 billion. UTC grew despite adverse economic conditions.
The Unit Trust success story continues with a decent performance in the first six moths of the year.
Despite the gloom of economic contraction, net income was $65 million and total assets grew to $21.5 billion and this caused Chairman Amoy Chang Fong [...]
Slow growth at FNCU Venture Capital
FNCU Venture Capital has only $13,000 in the bank. Is NEDCO hindering the growth of the venture capital movement?
There has been a lot of talk about venture capital in this country.
More talk. Less do as there are only a couple of companies in existence.
The FNCU Venture Capital Company which came into existence earlier in the [...]
Islamic Banking payout Thursday
Central Bank to release CIB Islamic Banking Funds Thursday. Run down to Herbert Street for your money!
People who invested in the Clico Investment Bank’s (CIB) Islamic Banking Scheme which was formed (IBS) eight years ago and which has an asset base of $40 million appear to be among the last to get back their funds [...]
$682m. Nipdec bond issue oversubscribed
The $682 million bond issue was oversubscribed by over $400 million. There certainly is a lot of loose cash around.
The National Insurance Property Development Company’s (NIPDEC) July 21 $682 million bond issue has been oversubscribed- further evidence of the amount of loose cash around, despite all the “ole talk” of recession and poor business.
Big business [...]
Calder Hart wins with TTMF
Despite the economic slowdown TTMF made $37 million before tax last year. Some 1,389 persons took out mortgages.
The Prime Minister’s beleagured blue-eye boy Canadian Calder Hart has good news for the public about the performance of another state entity of which he is chairman, Trinidad and Tobago Mortgage Finance Company Ltd (TTMF).
TTMF made consolidated [...]
Exim Bank makes $3million
The Exim Bank made a tidy profit of some $3.1 million last year- some $500,000 more than it did in 2007.
The bank, known officially as the Export Import Bank of Trinidad nd Tobago, had what it called “loan loss expense” amounting to $1.2 million and net profit before taxation of $4.3 million.. Total [...]
Nipdec floats $682m bond
Interest rate of 6.8 per cent. Payments will be made twice yearly.
More money will be squeezed out of the system as the National Insurance Property Development Company Limited (NIPDEC) floats a $682 million bond to upgrade roads and for the new Driver and Vehicle and Licensing Authority.
It means that over $1.6 billion in bonds [...]
Islamic Banking investors recover funds
The Central Bank to the rescue as worried IBS investors recoup funds.
Scores of persons who had invested in the Clico Investment Bank’s (CIB) Islamic Banking Service are a happier lot.
After months of worrying about the fate of the millions of dollars invested in this new scheme, investors are getting back their money. Payments began several [...]
$$ Troubles For 3 Caribbean Billionaires
Sir Allen Stanford is in jail. Lawrence Duprey lost has $100 billion C.L. empire and Jamaican financier Michael Lee Chin cannot pay bondholders on time.
Not an easy time for billionaires in the Caribbean.
Sir Allen Stanford, who was based in Antigua and got a knighthood there, has been indicted
of fraud a US $7 billion fraud and [...]
Worried C.L. Shareholders Want Answers
How much is C. L. Financial worth? Worried shareholders wonder whether their investments are jumping up in steelband.
No one except Lawrence Duprey, his financial controller and a couple of confidants know exactly the state of play in the troubled C.L. Financial empire.
The Central Bank doesn’t quite know. Nor do, least of all, [...]