Home' Trinidad and Tobago Guardian : March 25th 2014 Contents A15
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SM Jaleel & Company Ltd is
a global winner, with merit, of
the British Safety Council s Inter-
national Safety Awards for 2014.
For the past 56 years the Inter-
national Safety Awards have been
awarded to companies that
achieve and promote the highest
standards of health and safety
Dr Mikaeel Mohammed,
director of SM Jaleel & Company
Ltd, said: "We have demonstrat-
ed to the world our strong com-
mitment and determination to
workplace health and safety. Our
concern for our workers and our
insistence on the highest quality
of products for our customers is
reflected in the effort we expend
and the importance we place on
every system and procedure
throughout the company."
Alex Botha, chief executive of
the British Safety Council, con-
gratulated the company and its
employees on achieving the
International Safety Award with
Finance Minister Larry Howai has been asked
to ensure that an audit of the sale of First Citizens
shares by the bank s chief risk officer Philip
Rahaman is expedited and that the report is made
public as soon as the investigation is complete.
Peter Permell, a minority shareholder rights
advocate, made the call in a letter yesterday. He
reminded Howai that he has given a firm com-
mitment that he "stands ready to provide the
public of T&T with pertinent information as same
is deemed allowable for disclosure".
Permell said: "However, I hasten to remind the
former banker that time in the world of finance
time is always of the essence; and like time, the
market waits on no one. It also abhors uncertainty.
"In fact, one only has to look at the current
market price of FCB to understand this truism.
At Friday s close of $36.40, this price represents
a decline of $6.60 or 15 per cent from its 52-week
high of $43 on January 20, six days after the chief
risk officer s multi-million dollar trade and since
then it has been downhill for the most-part.
"Interestingly, the transaction has now earned
the dubious distinction of being the largest single
trade of FCB shares, both in terms of volume and
value, by any individual or corporate entity in any
one trading-day since listing on September 16,
Permell commended Howai for the responsible
manner in which he has handled the matter so
far and reminded him that the public needs to be
assured that the bank is being run honestly, pru-
dently and in the best interest of shareholders.
Government does not plan to privatise
Lake Asphalt or Petrotrin, Energy and
Energy Affairs Minister Kevin Ramnarine
The minister, who spoke with reporters
after delivering the keynote address at the
IX Latin American Forum on Energy and
the Environment at the Hyatt Regency in
Port of Spain, refuted statements made by
opposition and trade union officials who
he said were trying to spread rumours.
"I don t know where they re getting that
from," Ramnarine said.
The minister explained that the farm out
arrangements Petrotrin had entered into
followed a model that has been in existence
for 25 years. It was first started in 1989. He
also said that the memorandum of under-
standing signed with China for Lake Asphalt
is a conceptual document and not a move
"There will be no transfer of equity. There
will be no transfer of assets," he said.
Ramnarine had earlier addressed the lunch
session of the forum which was organised
by the University of Texas at Austin s Jackson
School of Geosciences. The minister, who
visited the school, said he considers it to
be the best for geosciences in the US.
The minister said there are post-graduate
students at the University of Texas at Austin
doing more research on T&T than T&T
universities but that he was pleased that
many of the post-graduate students doing
the research with the University of Texas
are from T&T.
Ramnarine told the audience comprised
of many academics that "we are to the
Caribbean what Germany is to Europe". He
said he would dare to add that Port of Spain
is the capital of the Caribbean.
He also gave an update on the draft
national energy policy and said he will be
submitting it to Cabinet for approval next
Thursday. Ramnarine said he could not give
details of the policy but said it is guided by
15 overarching principles. Once the draft
policy is approved by Cabinet, the Energy
Minister will hold a series of public con-
sultations across the country starting, Ram-
narine estimated, from April 28.
On the La Brea oil spill, the minister said
there will always be criticism if how an oil
spill is handled.
Ramnarine also said that the only way to
ensure that oil and gas infrastructure gives
a good 30-40 years of service is by investing
in its maintenance.
The Latin American Forum on Energy
and the Environment brings together gov-
ernment and industry decision makers,
scholars and scientists to foster dialogue
around energy and environmental issues.
During yesterday s session The University
of Texas announced academic and research
Partnerships with the University of the West
Indies (UWI) and the University of Trinidad
and Tobago (UTT).
No plan to privatize Petrotrin
Energy Minister Kevin Ramnarine, right, receives a plaque from Jorge Pinon, director of
the Latin America and Caribbean Energy Programme at the University of Texas at Austin
following the opening of the Ninth Latin American Forum on Energy and the Environment
at Hyatt Regency, Port-of-Spain, yesterday. PHOTO: SHIRLEY BAHADUR
Permell urges Howai:
Speed up audit
of share sale
SM Jaleel gets Safety Council merit award
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