>Last week, the Office of the Prime Minister confirmed a Tribune Business report published earlier this month, which said that Deloitte & Touche receivers sold the resort to a special purpose vehicle (SPV) owned by the Export-Import Bank of China (CEXIM), the project’s $2.45 billion secured creditor.
Not so fast, please. My understanding is that the SPV is owned by Perfect Luck Company incorporated in 2013 in Hong Kong. Is EXIM a secret shareholder? Does EXIM own Baha Mar now? Who are the directors of Perfect Luck? More clarity is definitely needed.
Disclaimer -- I know nothing about construction techniques, but hearsay from my neighbor. Was talking to a neighbor who painted the shingles of his roof with white paint. I asked him why. He said that the paint holds the shingles down in a hurricane. Also the white paint reflects light and makes the house cooler. It sounded sort of logical. His roof wasn't damaged but it is not exactly out in the open either. I asked him if there was a downside. He said that painting the shingles invalidates the manufacturer's warranty. Wondering if painting shingles reduces wind damage?
This is a bunch of bullsh*t. Our capital markets are moribund. There are exchange controls. If you invest a hard currency, good luck getting it out without a Central Bank Load. The regulators are paper tigers letting functionally bankrupt and criminal entities still being listed.
In terms of ethics and looking out for the fiduciary interests of my clients, I cannot with a good conscience recommend the Bahamian capital markets for outsiders and non-residents. It simply is not a First World investment-grade marketplace and the playing ground is not level.
Interesting. Ordinary investors get an interest coupon of 4 percent. In the multi-tiered system, what are the commercial banks getting to be able to swallow this turd-pile of debt -- 10% ????
There is no way that I or any of my clients would purchase these bonds, unless they had a "put option" attached that forces the issuer to pay back the principal on demand at any time. If we had a mature securities market with derivatives, I would gladly buy all the Credit Default Swaps that I could lay my hands on. The exponential rate of government spending and government debt is unsustainable for even the next three years. I am convinced that it is a matter of time before the government defaults and has to re-structure some bond obligations.
Interesting fact that proves that there may have been a plan all along to wrest control from Sarkis. The entity who now legally bought and owns Baha Mar, Perfect Luck Limited is a special purpose vehicle incorporated on the 2nd of October in 2013 in Hong Kong. Now doesn't that beat all! This was planned with a slowdown and Prime Minister Crisco Butt was in on it? Wow! Just too many coincidences. I'm tempted to pay the $22HK dollars to find out the directors of the company, but they might be nominees like Hu Flung Dung, Hung Lo and Ho Lee Foc and Perr Ree Suks.
banker says...
>Last week, the Office of the Prime Minister confirmed a Tribune Business report published earlier this month, which said that Deloitte & Touche receivers sold the resort to a special purpose vehicle (SPV) owned by the Export-Import Bank of China (CEXIM), the project’s $2.45 billion secured creditor.
Not so fast, please. My understanding is that the SPV is owned by Perfect Luck Company incorporated in 2013 in Hong Kong. Is EXIM a secret shareholder? Does EXIM own Baha Mar now? Who are the directors of Perfect Luck? More clarity is definitely needed.
On Call for clarity on Baha Mar
Posted 25 October 2016, 1:22 p.m. Suggest removal
banker says...
Disclaimer -- I know nothing about construction techniques, but hearsay from my neighbor. Was talking to a neighbor who painted the shingles of his roof with white paint. I asked him why. He said that the paint holds the shingles down in a hurricane. Also the white paint reflects light and makes the house cooler. It sounded sort of logical. His roof wasn't damaged but it is not exactly out in the open either. I asked him if there was a downside. He said that painting the shingles invalidates the manufacturer's warranty. Wondering if painting shingles reduces wind damage?
On Insurer says 15% of Matthew roof loss ‘preventable’
Posted 25 October 2016, 10:58 a.m. Suggest removal
banker says...
This is a bunch of bullsh*t. Our capital markets are moribund. There are exchange controls. If you invest a hard currency, good luck getting it out without a Central Bank Load. The regulators are paper tigers letting functionally bankrupt and criminal entities still being listed.
In terms of ethics and looking out for the fiduciary interests of my clients, I cannot with a good conscience recommend the Bahamian capital markets for outsiders and non-residents. It simply is not a First World investment-grade marketplace and the playing ground is not level.
On Capital outlook for the markets
Posted 22 October 2016, 10:16 a.m. Suggest removal
banker says...
More national debt. Bring it on !!
http://tribune242.com/users/photos/2016…
On ‘Flagship’ job centre to replace Clarence Bain
Posted 22 October 2016, 10:10 a.m. Suggest removal
banker says...
The other 30% goes into Shame Gibson's pocket.
On Hurricane bond: 60-70% to repair government assets
Posted 21 October 2016, 8:10 a.m. Suggest removal
banker says...
Interesting. Ordinary investors get an interest coupon of 4 percent. In the multi-tiered system, what are the commercial banks getting to be able to swallow this turd-pile of debt -- 10% ????
On Commercial banks to acquire 80 per cent of restoration bond
Posted 21 October 2016, 8:09 a.m. Suggest removal
banker says...
There is no way that I or any of my clients would purchase these bonds, unless they had a "put option" attached that forces the issuer to pay back the principal on demand at any time. If we had a mature securities market with derivatives, I would gladly buy all the Credit Default Swaps that I could lay my hands on. The exponential rate of government spending and government debt is unsustainable for even the next three years. I am convinced that it is a matter of time before the government defaults and has to re-structure some bond obligations.
On Chamber chair: $150m bond ‘very ‘difficult’ at once
Posted 18 October 2016, 10:41 p.m. Suggest removal
banker says...
Interesting fact that proves that there may have been a plan all along to wrest control from Sarkis. The entity who now legally bought and owns Baha Mar, Perfect Luck Limited is a special purpose vehicle incorporated on the 2nd of October in 2013 in Hong Kong. Now doesn't that beat all! This was planned with a slowdown and Prime Minister Crisco Butt was in on it? Wow! Just too many coincidences. I'm tempted to pay the $22HK dollars to find out the directors of the company, but they might be nominees like Hu Flung Dung, Hung Lo and Ho Lee Foc and Perr Ree Suks.
On PM tells Sarkis: ‘We won’t help’ over Baha Mar
Posted 18 October 2016, 4:14 p.m. Suggest removal
banker says...
ya tink Mudda Sick ... errr Mudda Pratt wants to suck at da public teat again?
On Govt considers a hurricane tax
Posted 18 October 2016, 3:57 p.m. Suggest removal
banker says...
So Ivoine became p!ssed off and disenchanted with the FNM and is now a PLP apologist hoping to catch some crumbs from the PLP droppings?
On Christie leadership in crisis
Posted 18 October 2016, 1:57 p.m. Suggest removal