Home' Trinidad and Tobago Guardian : September 24th 2015 Contents SEPTEMBER 24 • 2015 www.guardian.co.tt BUSINESS GUARDIAN
REGIONAL | BG19
MC LEOD HELMET CRESTED HUMMINGBIRD LIMITED
In my capacity as Receiver of Mc Leod Helmet Crested Hummingbird
Limited (In Receivership), I am offering the assets of the Company for
sale as either a complete package or on an individual basis. The assets
comprise 10 parcels of land which comprise approximately 95 acres of
land as outlined:
ASSETS FOR SALE
Freehold Land at Santa Cruz, Trinidad:
Parcel 1 - 11 acres (approximately) Parcel 6 - 37 acres (approximately)
Parcel 2 - 10 acres (approximately) Parcel 7 - 16 acres (approximately)
Parcel 3 - 3 acres (approximately) Parcel 8 - 4 acres (approximately)
Parcel 4 - 1 acres (approximately) Parcel 9 - 5 acres (approximately)
Parcel 5 - 3 acres (approximately) Parcel 10 - 5 acres (approximately)
To obtain further information and arrange a site visit please contact:
Mr. Varune Mungal
Receiver -- Mc Leod Helmet Crested Humming Limited
c/o Business Recovery and Advisory Services Limited
86, Seventh Street, Barataria.
Trinidad West Indies
Telephone: 1(868) 681-9235 or 1 (868) 326-7328
Conditions of Sale:
1. Terms of payment are 10% of the purchase price payable on
acceptance of the offer with the balance of the purchase price
to be paid within 90 days.
2. The Assets will be sold on an "as is where is"basis subject to all
outstanding rates, taxes and outgoings;
3. The Receiver does not bind himself to accept the highest offer
or any offer made.
The OECD cut its world eco-
nomic growth forecasts for 2015
and 2016 on Wednesday, warning
of a dramatic slowdown in Brazil
and a global outlook clouded by
uncertainty over China.
The policy analysis club of 34
advanced economies had already
slashed its forecasts just three
months ago because of weak US
Now the Organisation for Eco-
nomic Cooperation and Develop-
ment is returning to its calculations
with an axe, citing in part a crisis
gripping emerging markets as
China s economic boom, and its
voracious appetite for raw mate-
The OECD cut its world growth
forecast for this year to 3.0 per
cent, trimming 0.1 per centage
points off its previous estimate
made in June.
"Global growth prospects have
weakened slightly and become less clear in recent months," the OECD
said, despite a recovery in advanced economies.
"The outlook has worsened fur- ther for many emerging market
The group issued its new economic
outlook on the eve of a US Federal
Reserve decision on whether to lift
interest rates for the first time in nine
years. Analysts say such a tightening
could chill global activity.
For China, whose slowing economy
has prompted deep uncertainty in global
financial markets, the OECD cut its
2015 growth forecast by 0.1 per centage
points to 6.7 per cent.
But Brazil s forecasts took the biggest
hit, by far, in the latest OECD report.
Suffering like other emerging
economies from a commodity price
crash, engulfed in recession and with
its debt downgraded by Standard &
Poor s this month to junk bond status,
Brazil had its economic outlook for this
year downgraded to a 2.8-per cent con-
traction instead of a 0.8-per cent con-
For 2016, the OECD lowered the
global growth outlook to 3.6 per cent,
a reduction of 0.2 per centage points
from three months ago.
"Some strengthening in growth is
expected in 2016 but doubts about
future potential growth continue to
build," it said.
While the US recovery was now solid,
the OECD said the picture worldwide
was muddied by "puzzles" in other big
"Erratic" data in Japan raised ques-
tions over its recovery, the group said.
Coincidentally, within an hour of the
report s release, Standard & Poor s cut
Japan s investment-grade credit rating
by one notch, saying the government s
strategy to revive growth and end defla-
tion was unlikely to reverse the dete-
rioration in the next two to three years.
Meanwhile, the euro area s recovery
lacked some vigour and activity in China
was "difficult to assess", the OECD said.
Emerging markets risked being hurt
by rising world interest rates or a sharp-
er than expected slowdown in China,
sparking financial and economic tur-
bulence that could be a "significant
drag" on advanced economies, it said.
US rate rise warranted
China faces a challenge trying to sus-
tain growth while changing its economy
from an investment-powered model
towards one led by consumers, the
It urged China to focus on social
spending to support consumers, rather
than debt-financed infrastructure
The group supported a rise in US
interest rates but said the pace will be
"In the United States, progress on
closing output and employment gaps
warrants an upward interest rate path,
but at a very gradual pace," the OECD
"The timing of the first rate hike is
of secondary importance compared to
the pace of increase. Clear communi-
cation of that pace will help to minimise
financial market volatility."
The latest report means the OECD
has cut its 2015 global growth outlook
by a full per centage point from March,
when it foresaw a worldwide economic
expansion of 4.0 per cent. AFP
OECD cuts world growth outlook
warns on emerging markets
Links Archive September 23rd 2015 September 25th 2015 Navigation Previous Page Next Page