Express Business Filler #1

STATE-OWNED National Gas Company (NGC) yesterday reported group profit after tax of $2.327 billion for 2018, which represents an increase of $1.338 billion or 135 per cent above the 2017 profit after tax figure of $989 million.

In one of his last official acts as the chairman of T&T’s largest indigenous company, business executive Gerry Brooks attributed the group’s improved profitability “to the ongoing execution of the strategic plan to re-engineer the business to drive new levels of productivity, improvements in commodity prices and partial settlement of the Investment Note Certificates that the company held in the CLICO Investment Bank”.

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NGC announced that Brooks was resigning as the chair­man of the holding company and all of the group companies on which he served as either chairman of director. He also resigned from all State com­pa­ny boards on which he served. All the res­ig­na­tions became ef­fec­tive on June 30, 2019.

Brooks signed off on the 2018 consolidated financial statements on June 30, his last official day in the job.


Increases in food prices have been minimal under the People’s National Movement (PNM), with prices going down for certain items in contrast to the large increases under the Kamla Persad-Bissessar administration.

SAGICOR Financial Corporation is paying nothing to CLICO and British American Trinidad to acquire their tradition insurance portfolios, worth over $8 billion, as the regional insurance company is acquiring insurance liabilities that have a greater value that the total investment assets that are to be transferred to Sagicor.

CLICO has not made a current, formal offer to sell its Methanol Holdings International Ltd (MHIL) shares to the methanol producer’s minority shareholder, Consolidated Energy Ltd.

IT IS one of the most incentivised sectors, yet T&T’s agriculture industry isn’t attracting new farmers. Furthermore, food production has not increased. Last week, in delivering his 2020 budget, Finance Minister Colm Imbert said the Government would remove all taxes and duties on inputs for the industry.

The United States independent company, Apache, has drilled a wildcat on Suriname’s block 58, probing a prospect considered to be closely on trend with one of the 14 discoveries made by US major, ExxonMobil, in neighbouring Guyana.

WITH business booming in Guyana since its multiple oil discoveries, local energy sector service companies have wasted no time in setting up branches there. . “Companies offering taxi services, for instance, are booming,” says Javed Razack, a geophysicist, employed as a director of contracts and proposals with Ramps Logistics Ltd.