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Justice Frank Seepersad

A TACARIGUA businessman who held two booths at the Public Transport Services Corporation (PTSC) San Juan mall has been ordered to pay over $168,000 for rental fees he owes.

Justice Frank Seepersad made the order on Tuesday but applied a 90-day stay of execution of his decision to give Stanisclaus Huggins time to pay.

Huggins, at a brief trial at the Judicial Waterfront Centre, Port of Spain, admitted he was in debt with PTSC. He also admitted the corporation was entitled to the rental fees and was free to reject an instalment plan.

However, he said while he knew he was in arrears, the corporation had not sent him any invoices.

Huggins represented himself at the trial of his claim against the corporation for a written tenancy agreement. He also wanted damages for the breach of his tenancy contract and an injunction to restrain PTSC from evicting him.

In his claim, Huggins said he operated a defensive driving school at the San Juan mall. One of the booths was used as a classroom while another was used as his office. He also said he got permission to use another booth as his office instead of one of the others he had before.

He said in 2018 when he went to pay his monthly rent, he was told his name was not on the list of tenants and he decided to withhold his rent until PTSC agreed to give him receipts in his name.

Huggins also said he was locked out of the booths and this situation continued for two-and-a-half years before PTSC, on July 29, 2020, demanded immediate payment of the arrears.

Huggins said he offered to pay some arrears in monthly instalments but was, instead, ordered to vacate the premises.

He sued for breach of his tenancy contract.

In his ruling, Seepersad said he could not grant a request for Huggins to pay his debt in instalments but said it was open to PTSC to engage in negotiations with the former tenant since he has said he cannot pay a lump sum.

The judge said that would be entirely up to PTSC but also advised Huggins to consider giving up possession of the booths by handing over the keys since the longer he holds on to the booths, “your indebtedness continues.”

“It is entirely a commercial decision for you to make.” Huggins was also ordered to pay PTSC’s legal costs in the sum of $14,000.

PTSC was represented by attorney Nirad Ramrekersingh.

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NCB Merchant Bank (Trinidad and Tobago) Ltd, a subsidiary of the Jamaica-based NCB Capital Markets Group, has signed an agreement with Guyana Shorebase Inc. (‘GYSBI’) for the disbursement of a syndicated term loan to the value of US$10 million.

Guyana Shore Base Inc. is a Guyanese majority-owned company that provides a multi-use facility offering support and logistical services to satisfy the highly specialised needs of Guyana’s oil and gas industry. Fourteen international oil companies are currently engaged in petroleum operations onshore and offshore in Guyana’s territorial waters.

This loan facility will allow GYSBI to expand its capacity in the delivery of secure open and covered storage, berthing for supply vessels, operational personnel, and loading/unloading logistics support. GYSBI offers services ranging from waste management, chemical storage, warehousing, construction, supply chain management, expatriate management, and customs and logistics services. The company currently has four berths, and 30 acres of developed land at its main port and owns and manages 140 acres of an industrial estate.

Guyana’s estimated reserves in August of this year stand at more than 11 billion barrels of oil equivalent (BOE) and 13.2 billion cubic feet of associated gas. With an estimate of 750,000 barrels of oil per day in the next two years and potential revenues of US$50-US$200 billion by 2050, the industry is ramping up for the long haul.

NCBMBTTL has been providing financing in Guyana since 2015. It was part of a wider NCB syndicate out of Jamaica that extended a US$20MM loan to the Guyana Sugar Corporation (GUYSUCO), and in 2020 NCBMBTTL arranged financing for Nabi/KCL Oilfield Construction Services JV to aid in their construction of a corporate campus in Ogle, Guyana for a prominent energy company.

“We were able to provide financing that is flexible, forward-thinking, and facilitative of GYSBI’s business model”, said Mr. Marli Creese, Head of Corporate and Investment Banking at NCB Merchant Bank (Trinidad and Tobago) Limited. “By taking the time to understand Guyana Shore Base, we were able to create a custom-tailored financial solution.”

GYSBI General Manager Mr. Robert Albiez stated that “This bridging loan agreement is a precursor to a more significant multimillion-dollar deal involving NCBMBTTL and three other Guyana banks to provide capital for projects that will further build and enhance GYSBI’s capacity to support Exxon Mobil’s offshore drilling campaign.”

The NCB Financial Group has assets of USD 12 billion, a capital base of circa USD 1 billion, and is publicly traded on the Jamaica and Trinidad & Tobago Stock exchanges. It trades under the ticker symbol NCBFG.

In 2015 Muneshwers Limited, Pacific Rim Constructors, LED Offshore, and Total Tec Oilfield Services – all companies with relevant experience and expertise, combined interests to establish Guyana Shorebase Incorporated. The company was later awarded a 5-year mandate to provide ExxonMobil with shore base services which have been subsequently extended to 2032. With the increasing demand for services, GYSBI will now be able to provide increased services as a single source resource to the sector.

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Taiwanese Ambassador to St. Vincent and the Grenadines Peter Sha Li Lan has highlighted the progress made by Taiwan over the years, despite the many challenges which continue to emerge.

Ambassador Lan was addressing the gathering at the Taiwan Sports Day, hosted by the Taiwanese Embassy last Saturday October 8th, in collaboration with the Ministry of the Public Service Consumer Affairs and Sports.

The event was held at the Sir Vincent Beache National Stadium at Diamond, to celebrate the 111th National Day of Taiwan, which is observed annually on October 10th.

During his address, Ambassador Lan said Taiwan is continuing to progress in many areas.

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Ambassador Lan said Taiwan is making strides in economic development.

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Former Minister of Culture, Lawyer, Rene Baptiste has advised young aspiring musical artistes to be consistent and professional in their bid to make it to the top.

Miss Baptiste gave the advice, as she delivered remarks during a welcome ceremony, held at the Argyle International Airport yesterday, for Vincentian Calypsonian and Cultural Ambassador, Dr. Alston Becket Cyrus.

Becket arrived at the AIA yesterday afternoon, after being awarded an Honorary Doctorate from the Five Islands Campus of the University of the West Indies last Saturday.

Miss Baptiste advised young artistes to pattern their career after successful artistes such as Dr. Alston Becket Cyrus.

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Meanwhile, the guest of honour at yesterday’s ceremony Dr. Alston Becket Cyrus expressed gratitude to several persons who supported him over the years on his musical journey.

During his remarks Becket made special mention of the love and encouragement he received from his Mother.

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A welcome motorcade was held from the Argyle Internatonal Airport to Beckett’s home town of Layou.

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