Express Business Filler #1

Open Market Operations (OMO) and Debt Auction (DA)

OMO/DA maturities totalled $819 million last week, compared to zero the previous week.

The next OMO/DA maturities will be in February 2020.

Government bonds

Selected bonds issued by the Government of the Republic of Trinidad and Tobago were de-listed from the Trinidad and Tobago Stock Exchange Ltd (TTSE) effective Monday, January 6, 2020.

Liquidity

The commercial banks closed last week with an excess reserve of $5.3 billion compared to $6.2 billion in the previous week, down by $0.9 billion

United States Treasury Bills

The yield on two-year notes opened at 1.55 per cent and closed last week at 1.57 per cent, up two basis point (bps).

The yield on ten-year notes opened at 1.81 and closed last week at 1.83 per cent, up two basis points (bps).

News

January 8—CinemaONE Ltd—Trading in Shares

The Trinidad and Tobago Stock Exchange Ltd (TTSE) received notice from CINE1 advising of the following transactions:

• A connected party purchased 3,353 CINE1 shares on December 24, 2019; and

• A connected party purchased 503 CINE1 shares on December 30, 2019.

January 8—Calypso Macro Index Fund—Expiration of Term of Director

The Trinidad and Tobago Unit Trust Corporation has announced the following change to the board of directors:

Ruben McSween’s term of office as a director of the board of the Trinidad and Tobago Unit Trust Corporation expired on January 8, 2020.

The board of the Corporation expressed its gratitude to Mr McSween for his dedicated service to the board.

January 8—Eppley Caribbean Property Fund Ltd SCC Value Fund—Trading in Shares

The Trinidad and Tobago Stock Exchange Ltd (TTSE) received notice from Eppley Caribbean Property Fund Ltd SCC advising of the following transactions over the Jamaica Stock Exchange:

• A connected party purchased 20,000 CPFV shares on December 30, 2019; and

• A connected party purchased 2,000 CPFV shares on December 31, 2019.

January 6—Massy Holdings Ltd—Trading in Shares

The Trinidad and Tobago Stock Exchange Ltd (TTSE) received notice from MASSY advising that a shareholder connected to a director purchased 63,103 MASSY shares on January 3, 2020.

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PAN manufacturers and tuners are expected to benefit from a $5 million grant for the establishment of the Steelpan Manufacturing Grant Fund Facility.

A GROUP of estate police officers, formerly employed with ex RBTT Bank/RBC, have written to Prime Minister Dr Keith Rowley complaining that the Canada-owned bank may have breached T&T’s income tax laws in dealing with their separation.

PROPER procurement practices could save this country a conservative $5.2 billion a year–otherwise lost to corruption or inefficiency–and translate over time into an improved standard of living for citizens.

For chairman of the Office of Procurement Regulation, Moonilal Lalchan, this alone should drive Government to seek full proclamation of the Pub­lic Pro­cure­ment Act as soon as possible.

There is an understandable concern about the future of Point Lisas Industrial Estate. In the last four years, plant closures on the estate include, the Mittal steel complex, two MHTL methanol plants and recently the Yara plant. One MHTL plant has since restarted but the MHTL M1 plant remains down.

Every day securities markets globally are evolving and changing to meet the financial and investment needs of a digitised era. Regulators worldwide often seek to improve operational efficiency and effectiveness within this environment and in so doing must consider changing the way they do business and adapt processes that will effectively oversee the markets.

The year 2019 was not a very good one for businesses in Chaguanas and Couva but some business people are choosing to remain optimistic for 2020.