Zhou Xing

contract cancelled: Executive vice president of CGGC Energy China Zhou Xing (Larry), centre, and HDC chairman Newman George shake hands after signing documents for a housing construction project at the HYATT Regency, Port-of-Spain in May. Looking on, from left and seated, are CGGC president Liu Huailiang and HDC managing director Brent Lyons. Back row from left , Minister of Trade Paula Gopee-Scoon, , Attorney General Faris Al-Rawi, China’s ambassador to T&T Song Yumin, Minister of Housing Edmund Dillon, former Minister in the Ministry of Public Administration Marlene McDonald and Minister of Foreign Affairs Dennis Moses.

GOVERNMENT could be forced to make a termination payment of up to an estimated US$43 million to the China Gezhouba Group International Engineering Co Ltd (CGGC) for the cancellation of its contract with the Housing Development Corporation (HDC), according to Express Business calculations based on local high-rise apartment construction costs and profit projections.

That is if an investigation of the award of the controversial contract determines that no bribes, inducement or commissions were paid by the Chinese contractor to any local official.


AGREEMENT has been reached between Minister of Finance Colm Imbert and the T&T Chamber of Industry and Commerce that will allow local businesses to get cash for the billions of dollars in Value-Added Tax refunds owed to them by the end of next month.

HIGH fuel costs and traffic congestion are causing more people to purchase motorcycles for travelling short distances.

AFTER deliberating on the First Citizens Initial Public Offering (IPO) for more than 19 months, Director of Public Prosecutions, Roger Gaspard, concluded that there was “insufficient evidence” from an investigation conducted internally by a team from the Trinidad and Tobago Securities and Exchange Commission (TTSEC) “for a realistic prospect of conviction for any offence under the Securities Act Chapter 83.02.”

SOME 50 exporters across 13 sectors have received about US$21 million to purchase raw materials and other inputs, in the facility established by the Government and executed by T&T’s EXIMBank to ease access to foreign exchange.

REGULATORY compliance is essential to the orderly functioning of the securities market. Registrants registered with the Commission should establish effective policies, operational procedures and controls in relation to their day-to-day business activities in order to ensure compliance with all relevant regulatory and legal requirements.