This Caribbean Investment Fund Completes A $4 Million Investment

Black Immigrant Daily News

By NAN Business Editor

News Americas, NEW YORK, NY, Thurs., Oct. 20, 2022: A Caribbean based private equity investment company has just completed a USD 4 million deal in one of the leading Nature Adventure Tour Operators in the Caribbean.

Sygnus Deneb Investments Limited, (“SDI”), which is managed by Sygnus, the Caribbean’s leading alternative investments firm has announced the completion of the equity investment in Chukka Caribbean Holdings.

The investment was made through the issuance of Convertible Preference Shares that will help the company to continue its strategic expansion and deepen its regional footprint, providing world class nature adventure excursions across the Caribbean.

“This investment in Chukka is directly aligned with Deneb’s strategy to provide growth capital to middle market firms with established track records to catalyse their growth and strengthen their capital structure and balance sheet,” stated Ike Johnson, Chief Operating Officer, Co-Founder and Head of Private Equity and M&A at Sygnus Group.

The Chukka Group delivers high quality tours with well-trained guides and takes pride in showcasing the natural beauty of the Caribbean through unique and sensational experiences and providing opportunities for local residents and businesses. Chukka operates over 85 tours in 5 countries, namely Jamaica, Belize, Turks & Caicos, the Dominican Republic and Barbados, including 8 cruise ship ports.

Chukka expanded its reach in 2020 by acquiring Resort Solution Ltd., which operates the largest Watersports company in Jamaica from 9 major resorts on the North Coast.  The company also offers other services to resorts such as the Tour Desk and Gift Shop at the renowned Round Hill Hotel and Villas and the Valet Parking Desk, Concierge/Tour Desk and Airport Transfers at the newly opened ROK Hotel in Downtown Kingston.

“We have a growth strategy, and we see a lot of opportunity and untapped potential in the region and many outstanding natural assets that people want to experience,” commented Marc Melville, O.D., CEO of Chukka Caribbean Adventures. “In order for us to fully capitalize on all of these opportunities and further grow our business we thought private equity would be the right way to go. Sygnus and Chukka have a longstanding relationship and partnership built over the last 5 years.  We are very excited with them coming onboard and the timing is perfect as we are poised for further expansion and deeper development of our existing locations.”

The investment in Chukka is the second portfolio investment by Sygnus Deneb, with the first being Aruba Wine and Dine made in 2020.

“Sygnus Deneb has a robust pipeline of opportunities valued at almost US$100M, that includes industries such as logistics, energy, maritime, retail, manufacturing and distribution, and we are looking to close additional deals before the end of the year,” Stephen Wright, Assistant Vice President for Private Equity and M&A stated.  

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Griffith: Like Liz Truss, Rowley should resign

Black Immigrant Daily News

The content originally appeared on: Trinidad and Tobago Newsday

News

Liz Truss

NTA leader Gary Griffith has called on the Prime Minister to follow the lead of the former British prime minister and step down.

He sent a statement to Newsday on Thursday, minutes after Liz Truss publicly announced her resignation after 45 days in office as successor to Boris Johnson.

The Conservative Party mass membership had elected her over former chancellor of the exchequer Rishi Sunak, but her efforts to enact her promises of low taxation led her to crash the British economy.

Griffith said since “We purport to pattern our system of democracy after the Westminster model,” he would trust: “Our leaders can take example from former prime minister Truss’ resignation and follow suit.”

He cited current controversies in Trinidad and Tobago.

“In the face of controversy after controversy, from the merit-list fiasco to the current Nelson imbroglio, from runaway crime to consistent economic hardship, perhaps the time has come for us to pattern ourselves firmly utilising that Westminster model and encourage Prime Minister Rowley to step down.”

Alternatively, he said the Government should seek to refresh its mandate and call a general election sooner rather than later.

“This demonstrates clearly, citizens do not have to wait to adjust the Constitution to effect change.

“It is about demanding accountability, and that happens now.”

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Bureau of Standards cracks down on inferior products

Black Immigrant Daily News

The content originally appeared on: Trinidad and Tobago Newsday

News

Members of the Trinidad and Tobago Bureau of Standards , the police and fire service officers raided LF Trading store and warehouse on Charlotte Street in Port of Spain. Photo by Sureash Cholai

OFFICIALS of the Bureau of Standards on Wednesday seized truckloads of faulty electrical appliances and other items as they cracked down on imported goods that are beneath the accepted standards.

Sources at the bureau told Newsday 8,283 items were seized from one company at two locations in the first day of a three-day exercise.

The exercise saw an “all-of-government” approach in which the Bureau of Standards teamed up with the Electrical Inspectorate, Occupational Safety and Health Authority and Agency (OSHA), the fire and police services and Customs and Excise.

The team visited a warehouse at Chanka Trace, San Juan and a retail outlet at Charlotte Street, Port of Spain simultaneously. There they inspected a variety of items which they found to be in contravention of the Standards Act 82:03.

Members of the Trinidad and Tobago Bureau of Standards , the police and fire service officers raided LF Trading store and warehouse on Charlotte Street in Port of Spain. Photo by Sureash Cholai

Some of the items seized included extension cords, power strips, appliances, adapters, glue guns and lights.

The act gives the bureau the authority to order or remove any product advertised for sale that it deems unworthy according to its threshold. Failure to do so can land the business owner with a fine from $500-$1,000 or imprisonment for six months.

The bureau can seize items that are below its standards, after testing.

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Minority Leader to Infrastructure Secretary: Come clean on contract to Trinidad company for road project

Black Immigrant Daily News

The content originally appeared on: Trinidad and Tobago Newsday

Tobago

Kelvon Morris. File photo/Jeff K Mayers

THA Minority Leader Kelvon Morris is calling on Secretary of Infrastructure, Quarries and Urban Development Trevor James to say how a contract for a road project in Tobago was awarded to a Trinidad company within 24 hours of the proposal.

Last month, Progressive Democratic Patriots (PDP) political leader Watson Duke accused the Farley Augustine-led THA of favouring Trinidad contractors over their Tobago counterparts for certain projects.

Augustine’s attorneys have since sent Duke a pre-action protocol letter accusing him of defamation.

Speaking at a Diego Martin West constituency conference last Wednesday, the Prime Minister also accused the THA of discriminating against Tobago contractors.

At a news conference at his office in Scarborough on Thursday, Morris referred to a contract the Division of Infrastructure awarded to the Charlieville-based California Stucco Company Ltd to build a road from Mt Marie to Dutch Fort Crossing Canal.

He said the award of the contract presented more questions than answers.

“This matter is one that speaks to transparency, accountability and is connected to the ongoing discussions of Tobago contractors being sidelined.”

Morris told reporters it wsa tied to the discussions on people outside Tobago being sole selected and hand-picked, “”and it speaks to a level of nefarious behaviour, a level of malfeasance and a level of collusion.”

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74 Dominican Republic Nationals Repatriated After Illegal Voyage – St. Lucia Times News

Black Immigrant Daily News

The content originally appeared on: St. Lucia Times News

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The U.S. Coast Guard Cutter Joseph Napier repatriated 74 Dominicans Republic nationals and returned eight Haitians to a Dominican Republic Navy vessel Tuesday afternoon.

It followed three separate illegal voyage interdictions in Mona Passage waters off Puerto Rico.

According to a Coast Guard release, the interdictions resulted from ongoing local and federal multi-agency efforts supporting the Caribbean Border Interagency Group CBIG.

“The Coast Guard actively patrols Mona Passage waters daily alongside our partners in the Caribbean Border Interagency Group partners to stop illegal smuggling vessels at sea and safeguard human lives,” said Capt. José E. Díaz, Coast Guard Sector San Juan commander.

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“We urge anyone thinking of taking part in an illegal voyage to not take to the sea! These voyages are dangerous; you will be putting your life at risk in the hands of smugglers who are capable of embarking you aboard grossly overloaded makeshift vessels with no lifesaving equipment and abandoning you in some very harsh conditions and dangerous environments,” Díaz warned.

Between October 1, 2021, and September 30, 2022, the Coast Guard carried out 88 illegal voyage interdictions in the Mona Passage and waters near Puerto Rico.

During that time, Coast Guard personnel interdicted 2,273 non-U.S. citizens.

They included 1,705 Dominicans, 444 Haitians, four Cubans, two Ecuadorians, 67 Venezuelans, 12 Uzbeks, two Iranians, one Colombian, one Spaniard and 35 of unknown nationalities

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BCF Engaged In Inmate Rehabilitation Programmes – St. Lucia Times News

Black Immigrant Daily News

The content originally appeared on: St. Lucia Times News

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Chess was introduced at the Bordelais Correctional Facility by the St. Lucia ChessFederation on 19th April, 2022.

The 2 nd Intercontinental Online Chess Championship for Prisoners took place on the 13th and 14th October, 2022.

The Bordelais Correctional Facility participated for the first time, registering one team. The first round of competition took place on the 13th October, 2022. Bordelais’ team competed against inmates from Argentina,Ecuador, El Salvador, Uruguay and Trinidad and Tobago.

Team Bordelais placed 3rd in Group 7 of the Intercontinental Online Prison Chess Championship. However, they did not advance to the semi-finals.

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The goal of the Intercontinental Online Chess Championship for Prisoners is to popularize chess as an efficient tool for reintegration of inmates. The governing body of the Intercontinental Online Chess Championship for Prisoners is the International Chess Federation (FIDE).

Apiculture is thriving at the BCF

Seven female inmates completed a Bee-keeping workshop at the Bordelais Correctional Facility. The workshop and apiculture project is funded by the Food and Agriculture Organization of the United Nations through the Government of St.Lucia’s Ministry of Agriculture and Export St. Lucia.

The workshop was facilitated by the President of Iyanola Apiculture Collective (St. Lucia) incollaboration with the Association of Caribbean Beekeepers Organization.

The intent of the workshop was to build the capacity of inmates and to introduce apiculture to the facility as a potential rehabilitation project.

The workshop was held under the theme, “Empowering Women in Food Systems and Strengthening their Local Capacity and Resilience of Small Island Developing States in Agri-Food Sector”.

The course ended with the presentation of certificates of participation to all the inmates. Bee-keeping kits were also presented to the Assistant Director for Rehabilitation, Mrs. Alberta Joseph Felicien.

Two queen hives were installed at the farm prior to completion of the course. Inmates are escorted to the hives every ten days as mandated by the training and the results of their findings are recorded and conveyed to Mr. Richard Matthias (facilitator), Craig Anderson – Coordinator, and Glenfild Gilbert, who are both representatives from Export Saint Lucia.

Overall, it is hoped that this intervention will result in not only increased capacity for inmates in honey production, but also to set the stage for exploring the possibilities of entering the regional apiculture industry.

Inter – Unit Football Competition

As part of our rehabilitation efforts at the Bordelais Correctional Facility, an inter-unit football tournament is being organized for the inmates. The various residential units will be divided in two zones, Zone 1 and Zone 2. Teams in Zone 1 will be playing teams in Zone 2.

The much anticipated football extravaganza by the inmates is expected to commence month end October or early November 2022.

The Bordelais Correctional Facility is in the process of securing sponsorship for this activity. Corporate partners are encouraged to support this initiative, and to contact the Assistant Director with responsibility for Rehabilitation Mrs. Alberta Joseph – Felicien at 4687110 or 7165665 for more information.

SOURCE: Department of Home Affairs

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Everything Vincy expo officially launches Monday 24th October

Black Immigrant Daily News

The content originally appeared on: NBC SVG

Vincentians will have an opportunity to view a range of products and services that would be on display at the Everything Vincy Expo, which takes place next week.

Invest SVG will host the event at the Geest Cargo Terminal in Kingstown, from October 24th to 28th.

Investment Facilitation Services Manager at Invest SVG, Shanna Browne says several local designers will be showcased during the Expo.

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The Everything Vincy Expo 2022 will officially launch on Monday 24th October, 2022 at the Geest Cargo Terminal at 10am.

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NBC’s Special Report – Thursday October 20th 2022

Black Immigrant Daily News

The content originally appeared on: NBC SVG

Contestant number two, Rockel Coombs currently serves as a Constable in the Royal St. Vincent and The Grenadines Police Force and aspires to pursue studies in Psychology.

Ms. Coombs who is sponsored by Intransit Export is guided by the words of Martin Luther King Jr, “You don’t have to see the whole staircase, just take the first step”.

Rawdica Stephen tells us more in todays special report.

https://www.nbcsvg.com/wp-content/uploads/2022/10/CONTESTANT-NUMBER-2-REPORT-1.mp3

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100-million dollars spent in preparations for construction of the New Port in Kingstown, October 20, 2022, Continue Reading →

Black Immigrant Daily News

The content originally appeared on: NBC SVG

The Government of St. Vincent and the Grenadines has already spent 100-million dollars to prepare for construction of the New Port in Capital, Kingstown.

That’s according to Minister of Finance and Economic Planning, Camillo Gonsalves who was speaking on NBC’s Face to Face Program yesterday.

The Minister said the Contractor has been actively involved in the preparation phase of the Port Modernization Project.

https://www.nbcsvg.com/wp-content/uploads/2022/10/PORT-PREP.mp3

Minister Gonsalves said the construction phase of the Port Project will begin in earnest next year.

https://www.nbcsvg.com/wp-content/uploads/2022/10/PORT-WORK.mp3

Sellhorn Engineering from Germany and Aecon Construction Group will be involved in the construction of the Port.

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Discussions on the continuation of repair work at the Thomas Saunders secondary school ongoing

Black Immigrant Daily News

The content originally appeared on: NBC SVG

Minister of Finance and Economic Planning Camillo Gonsalves said discussions are being held to determine if the repair work at the Thomas Saunders secondary school should continue.

Minister Gonsalves said repair was scheduled to commence on the school immediately after the students were relocated to Arnos Vale.

He said following inspection, the school needs more work than it was previously anticipated.

https://www.nbcsvg.com/wp-content/uploads/2022/10/TSSS-WORK.mp3

Minister Gonsalves said if a decision is made to demolish and rebuild the school, it means that the students will remain in Arnos Vale for at least two years.

https://www.nbcsvg.com/wp-content/uploads/2022/10/SCHOOL-STUDENTS.mp3

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