Linden Town Council in talks with Indian Gov’t to establish solar energy project

first_imgThe office of the Linden Mayor and Town Council (LM&TC) is in discussion with First Secretary of the High Commission of India, Vijayakumar K. for installation of a solar energy project in the mining town.Mayor Waneka Arindell and First Secretary of the High Commission of India, Vijayakumar KThe First Secretary of the High Commission visited Linden Mayor Waneka Arindell at the LM&TC on Monday to have talks on the proposed initiative.Mayor Arindell has said that while it was that official’s first visit to Linden, it came on the heels of correspondence to identify possible projects which can be initiated in the community.“They would have sent us a letter to identify projects. So, we’re in the introduction stage of it…and they’re going to return once we provide some information…” the mayor noted.Additionally, at the launch of the Linden Town Week of activities back in May, Minister of State Joseph Harmon had told residents that the presence of several ‘mined-out’ areas across the Linden community makes Linden perfect to benefit from projects under the International Solar Alliance agreement (ISA). He posited that those areas allow for a greater level of access to solar power.Minister Harmon had said there was an indication that the bauxite mining community would benefit from projects under the international agreement signed by His Excellency President David Granger in India.He also noted that the solar footprints of Linden are among its greatest assets, and ought to be explored. He further related that, based on conversations taking place, he had some indication as well, that these ‘mined-out’ areas can be converted to green tourism and conservation facilities.last_img read more

Banks DIH New Amsterdam records $45M profit

first_imgBanks DIH New Amsterdam outlet recorded $2.9 billion in sales last year, surpassing its 2017 sales by $214 million. The company also announced a $45 million profit in Berbice.A section of the shareholders at Sunday’s AGMThe announcement was made on Sunday during its Annual General Meeting (AGM) in Berbice, Region Six. Shareholders were told that for the period of October 1, 2017, to September 30, 2018, the branch sold 1,865,000 units of products, representing an increase of 88,000 units over the previous year.Branch Manager Ronald Mathews told the gathering that the Berbice Branch surpassed last year’s performance as a result of premium quality products by employing an efficient distribution service to customers and consumers.Mathews noted that the Demico Qik Serv in New Amsterdam also created a record despite the competition it faced.“The New Amsterdam Qik Serv Restaurant sold $115 million as compared to $108 million the previous year, representing a revenue growth $7 million thus attaining the Chairman’s Trophy for honourable mention.”Mathews praised the staff of that branch for the achievement. He referred to them as the company’s greatest asset.In 2017, the New Amsterdam Branch sold 1,600,011 items and recorded a profit of $13.7 million which was an increase of $8.5 million over 2016.Meanwhile, Chairman of the Board of Directors, Clifford Reis, acknowledged the efforts of the New Amsterdam Branch. Commending of the Berbice Branch’s performance, the Chairman noted that the profits recorded represent in excess of a fifty per cent increase from the previous year.Overall, Banks DIH recorded a profit of $4 billion. The group’s third-party revenue was $30.923 billion when compared with $30.006 billion in 2017, representing an increase of $9 million or 3 per cent. The trading profit from operations for the Group was $6.8 billion when compared with $6.196 billion achieved in 2017, representing an increase of $641.0 million or 10 per cent.Profit after tax attributable to the shareholders of the parent was $4.286 billion compared to $3.888 billion in 2017, an increase of $398 million.The value of shares increased from $34.33 to $40.15 which is an increase of 16 per cent over the year. Shareholders were given a dividend proposal of $1.10 per share representing $934.8 million. Revenue generated by the company was $27.863 billion compared to $26.548 billion in 2017, an increase of $1.315 billion or 5 per cent.Citizens Bank, which is a subsidiary of the company, recorded a before-tax profit of $1 billion. The after-tax profit was $602 million.According to Reis, within the year, the company examined and evaluated new business models which are compatible with its existing business model to create wealth and value for shareholders.“These new business models will bring into our existing business portfolio, a new generation of products and services which will foster job creation and added value.”“We continue to evaluate our traditional business model to create wealth for shareholders through the creation of new synergies, the implementation of finance and marketing initiatives and, continuing emphasis on cost reduction strategies.” He added.The company continued its tradition of presenting monetary donations to two schools – this time Winifred Gaskin Secondary and Number Five Primary School.last_img read more