St. Lucia Business Focus 81 by AMS St. Lucia

Issue No. 81

May/June 2015

Cuthbert Didier

A Passion for the Sea

Special Feature: Saint Luciaâ&#x20AC;&#x2122;s

Marine Industry

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BusinessFocus May / June

BusinessFocus May performance / June is| not2a guide to future performance and the value of your investments may f luctuate. * Please note: Past investment

(First published: 2012)

No. 81

May / June 2015

CONTENTS FEATURE

29. Saint Lucia Marine Industry 69. 6th Annual Business Awards

REGULARS 04.

Editor’s Focus

06.

Business Briefs

08.

Is Your Board Prepared for a Crisis?

Business Tech 10. CWC/ Columbus Merger Finalised 12. Caribbean Export and the Organization of American States Partner to Enhance Businesses Through the Use of ICT

Money Matters 16. Budget Review 20. Republic Bank to Buy Suriname’s Royal Bank 68.

In The Know 90. The Value of Education 92. RESIGN WITH YOUR FUTURE IN MIND! Youth In Focus 96. First Citizens Challenges Young People

6th Annual St. Lucia Business Awards!

Tourism Focus 102. British Airways Launches Antigua-Turks and Caicos Route

104. Major Moves 106. Events 2012 107. New Company Registrations

Book Reviews

Economy & Trade Focus 82. Obama’s Visit to Jamaica: A Step in Re- Asserting USA Leadership in the Caribbean 84. Loan approved for Choc Bay/ Gros Islet Road Improvement Project 86. How to SELL Property in Saint Lucia

Contributors 08. Is Your Board Prepared for a Crisis? 54. Beyond the Pitons 86. How to SELL Property in Saint Lucia 88. Dear Tagline You’ve Come a Long Way, Baby. 92. Resign With Your Future in Mind! 98. Robbery: Men Dressed as Women 99. ‘Hosing’ Around!

Its Bay Gardens for a Second Time

96 BusinessFocus May / June

Passion and Purpose – a Winning Combination!

Tourism has evolved and grown to be our most dominant economic sector generating millions of dollars in investments and jobs for thousands. The industry though highly vulnerable has flourished with several sub sectors experiencing good growth with increased annual arrivals and positioning the island as a leading destination for weddings and honeymoons worldwide. Diversifying our tourism product is critical and there are opportunities for several niche areas to be converted to booming sub sectors. One such area that has major potential is the Yachting Industry which is dominated by high net worth individuals with the highest average spend when they visit.

Lokesh Singh Publisher/Managing Editor

In this regard, our Special Feature for this Issue has been dedicated to the island’s Marine Industry with an emphasis on the Yachting sector. St Lucia with its many facilities, natural beauty and pristine waters is now firmly positioned on the world’s Yachting Calendar with the successful hosting of events like the ARC being hosted here for a record 25 years. In addition the improved local facilities are now attracting a growing number of Mega Yachts with the industry now poised for a major takeoff. Cuthbert Didier stands out for his role in the growth of the Yachting sector. He has been passionate about promoting the benefits of investing and developing our Yachting Industry. He has been the lone voice for years and has been recognized as St Lucia’s Yachting Ambassador for his unstinting efforts to grow the industry. Today, his efforts have borne fruit with exciting times ahead. Imagine the possibilities if we can unleash more personalities with his passion and purpose to sell St Lucia to the world. We encourage others in the various sectors of business and industry to follow his lead and let’s work at promoting the possibilities of our respective sectors for the overall economic well being of St Lucia and its people.

BUSINESSFOCUS Business Focus magazine is published every two months by Advertising & Marketing Services Limited (AMS), Saint Lucia. Publisher / Managing Editor: Lokesh Singh lokesh@amsstlucia.com Graphic Designer: Cecil Sylvester Advertising Sales: Cennette Flavien - cennette@amsstlucia.com Hudson Myers - hudson@amsstlucia.com Webmaster: Advertising & Marketing Services Photography: Ashley Anzie | Cuthbert Didier Contributors: Lokesh Singh | Alex Holder| Dr Chris Bart Lyndell Halliday | Cuthbert Didier | Keats Compton David Jessop | Michelle Stephens | Richard Peterkin Trudy Glasgow | Pilaiye Cenac | Ashwini Singh Caribbean Export | Yvette Regis | Kezia Preville Brian Ramsey | Sandals Resorts Int’l | Caribbean Journal St Lucia Chamber of Commerce | Trinidad Express Trinidad Guardian | Jamaica Observer Rashmi Menon Editorial, Advertising, Design & Production: Advertising & Marketing Services P.O. Box 2003, Castries, Saint Lucia Tel: (758) 453-1149; Fax: (758) 453-1290 email: ams@candw.lc www.amsstlucia.com, www.stluciafocus.com Business Focus welcomes contributions from professionals or writers in specialized fields or areas of interest. Reproduction of any material contained herein without written approval, constitutes a violation of copyright. Business Focus reserves the right to determine the content of the publication.

We trust that you will enjoy reading the special feature and all of the other interesting content in this Issue. Happy Reading! On The Cover:

Saint Lucia Marine Industry

BusinessFocus May / June

Communication Tools SMS

Benefits of Collaboration

Instant Messaging

Customer Service

Mobility

Mobile Device Desktop Sharing

Unified Communications (UC)

Unified Communications (UC) uses the network as a platform to coordinate communication tools and channels such as the office phone, laptops and tablets, with services such as email and interactive calendaring UC allows greater collaboration in the workforce as information can be shared easily as users have a variety of methods at their disposal.

Video Conference

Cost Savings

Increased Productivity

Changing the Voice of your Business: Unified Communications and Collaboration

The State of Business Communication

Traditionally, communications within a business was limited to face-to –face meetings and telephone calls. Today, millions of device and service are transforming the way our businesses communicate. The growing popularity of communication tools such as email, text messaging, instant messaging, videoconferencing and desktop sharing have revolutionized the voice of today’s business, erasing the boundaries that previously existed between each channel. Now our cellular phones do the work of several devicesgiving you access to your email, wherever you are, while allowing you to schedule meetings with co-workers on a shared calendar, make a videoconference call and send broadcast messages using instant-messenger apps. This is done through Unified Communications (UC), a solution that integrates various communication channels so that information is easily shared across the corporate network.

How does it work?

UC uses the network as a platform to coordinate devices such as the office phone, laptops and tablets, with services such as email and interactive calendaring. With this level of integration, employees are able to communicate using voice, email and other mixed media from one mailbox, regardless of the access device being used.

Contact Digicel Business today for further details at 758 724 6001 or at digicelbusinessslu@digicelgorup.com

Why use Unified Communications?

Aside from integrating disparate communication channels within the business, UC also provides service consolidation, eliminating the need to have multiple providers to fulfill the communication needs of your business. According to Pre Sales Executive at Digicel Business, Selwyn Adams, “With the economic pinch being faced by many organizations, businesses and government entities have to be making the most of the fewer resources while finding ways to serve their customers better and improve collaboration. within the workforce, This forces them to find creative ways to facilitate the growing trend of mobility and respond to the demands of their customer while gaining competitive advantage and cutting costs. A Unified Communications solution can help them to achieve this and give them greater power of collaboration.” Digicel Business has had tremendous success in designing, commissioning and maintaining a number of Unified Communication Solutions with companies such as St Lucia Electricity Services (LUCELEC) and the East Caribbean Financial Holding (ECFH)

Collaboration

Michael Schrage, a research fellow at MIT Sloan School’s Center for Digital Business defines collaboration as “a process of value creation that our traditional structures of communication and teamwork can’t achieve” Collaboration refers to employees being able to share information with ease across a consolidated BusinessFocus May / June | 5 communication platform.

BUSINESS BRIEFS Cancer Centre to be Opened in June

Partners, Ltd, the government of Antigua & Barbuda, the governments of the OECS and the MEOI Healthcare Corporation. The facility will provide medical, radiation and surgical oncology services, with discounts for government-supported patients.

Barbados Signs Oil Exploration Agreement With BHP Billiton

The Cancer Centre Eastern Caribbean now under construction at the foot of the Mount St John’s Medical Centre Antigua (OBSERVER media) A United States-based radiation company will be working over the next few weeks to install equipment needed for the oncology side of the Cancer Centre of the Eastern Caribbean which is expected to be opened in less than two months. Chairman of the centre, Dr. Conville Browne said, on Wednesday, workmen began offloading the container Tuesday night and will be working over the next few weeks to complete installation and commissioning. “That whole installation process takes three to four weeks from start to finish, once it is installed, they would have to turn it on and they do various testing as they go along in an incremental manner. At the end of four weeks, they are ready to test to ensure it is functioning,” Dr Browne said. Prior to the start of the installation, the company Elekta conducted a site inspection to ensure that everything was in place for the process to begin. Dr Browne said he is extremely pleased with the feedback which was received from the radiation company. “We passed that inspection on April 22 with one or two provisos, one of which is permanent power to the site which was eventually installed with the assistance of the Health Minister Molwyn Joseph,” Dr Browne said. While the equipment is being installed, other contractors at the site will be working to complete the facility ahead of a planned grand opening ceremony on June 26. Prime Minister Gaston Browne, Health Minister Molwyn Joseph, Bahamas Prime Minister Perry Christy, Chief Medical Officers from the OECS will be among the many dignitaries attending the official cremony. The centre, which is the brainchild of former Prime Minister Baldwin Spencer, is a joint venture between Global Health BusinessFocus May / June

communities in which BHP will operate,” he said. Barbados first awarded BHP the two blocks in 2008, although it took “intense, yet fruitful” negotiations to finalize the exploration, Stuart said. “Today, Barbados’ offshore petroleum acreage remains largely underexplored with both local and international geological experts agreeing that all the necessary elements for a productive petroleum system are present in the offshore,” he said.

CWC, Official 2016 Olympic Broadcaster

The Caribbean continues to look for oil off its shores, and now Barbados is continuing its exploration with a new agreement. The country announced this week that it had signed two offshore exploration licenses with major global oil firm BHP Billiton. Barbados Prime Minister Freundel Stuart signed the documents with BHP Billiton VP of exploration Dr Niall McCormack on Wednesday. The licenses cover two blocks — Carlisle Bay and Bimshire, each about 40 kilometres southeast of the island. The total area covered under the licenses is about 5,000 square kilometres in waters ranging from 1,200 to 2,000 metres in depth. “Signing these two exploration licenses will send a clear message to the industry that Barbados is open for business and is serious about the development of its offshore petroleum sector,” Stuart said. “In addition, Barbadian nationals stand to reap early benefits on execution of the licences through the negotiated provisions for annual training, scholarships, local content, coastal and marine environment research and the acquisition of critical equipment and software.” Stuart said the government had taken “great care” to formulate a “robust regulatory regime and legislative framework that would ensure all offshore exploration and production activities were undertaken in accordance with the highest industry standards.” “The Government will expect no less than the highest commitment to the preservation and protection of our coastal and marine environment, as well as the

Cable & Wireless Communications (CWC) has been named the official broadcast sponsor – and the exclusive telecoms partner – of the 2016 Rio Olympics for the Pan-Caribbean region by CANOC Broadcasting Inc. (CBI), a subsidiary of the Caribbean Association of National Olympic Committees. The organization has secured the exclusive Olympic content rights to all platforms in 20 English-speaking countries, as well as non-exclusive rights in 10 nonEnglish-speaking countries throughout the region. In addition to the Olympic coverage, CWC which now operates both the LIME and Flow brands in a number of markets, will also provide its customers with a unique variety of live video feeds and data services offered across a number of media platforms including radio, TV, mobile, and internet streams. These live services will feature interviews, profiles and live-action footage of local Caribbean athletes as a result of this unique partnership.

Eastern Caribbean Automated Clearing House (ECACH) now Serving Banks Across the E.C.C.U. The Eastern Caribbean Central Bank (ECCB) in collaboration with banks in the Eastern Caribbean Currency Union (ECCU) revolutionized the clearing system between

BUSINESS BRIEFS symmetrically to the nearest five cents. Non-cash payments using cheques, debit and credit cards will not be impacted and therefore will not be rounded.

Moody’s Downgrade T&T

banks in the region. The existing manual clearing house exchange, operated across Antigua & Barbuda, Dominica, Grenada, Montserrat, St. Kitts & Nevis, St. Lucia and St. Vincent and the Grenadines have been replaced by The Eastern Caribbean Automated Clearing House (ECACH). This Automated Clearing House is a secure, private electronic payment transfer system that will connect all banks within the ECCU. The ECACH will be operated through the Eastern Caribbean Automated Clearing House Services Incorporated (ECACHSI). This new Automated Clearing House (ACH) will result in faster and more secure processing and settlement of payments between banks. Banks are required to adopt and implement new standards, procedures and rules relating to the production, acceptance, presentment and clearing of cheques and other financial instruments.

ECCB to Withdraw Two EC Coins As of July 2015, two Eastern Caribbean coins will be taken out of circulation. The one cent and two cent EC coins will be withdrawn from circulation, according to a recent statement issued by Deputy Governor of the Easter Caribbean Central Bank Trevor Braithwaite. The decision was taken by the Monetary Council of the Eastern Caribbean Central Bank (ECCB) in light of the high production cost of these coins compared to their intrinsic value, coupled with the large volumes required to maintain an adequate supply in circulation. Braithwaite stated that as a result of the factors outlined starting July 1, these denominations will no longer be issued to businesses or financial institutions. A price rounding system will be implemented within the East Caribbean Currency Union (ECCU) countries for the settlement of cash transactions only, whereby the total payment, inclusive of duties, fees and taxes, will be rounded

Moody’s Investors Service, the credit rating agency that conducts international financial research on bonds issued by commercial and government entities on Thursday downgraded Trinidad and Tobago’s government bond rating, and issuer rating to Baa2 from Baa1 and changed the outlook to negative from stable. According to Moody’s, the key drivers behind the downgrade are: 1. Persistent fiscal deficits and challenging prospects for fiscal reforms. 2. Decline in oil prices and limited economic diversification to weigh negatively on economic growth prospects. 3. Weak macroeconomic policy framework given lack of a medium-term fiscal strategy; and inadequate provision of vital macroeconomic data. At Baa2, the investment grade rating is supported by a strong government balance sheet, underpinned by the country’s Heritage and Stabilization Fund (HSF), and also benefits from a moderate and affordable debt burden and a strong external position.

Swiss Company Signs Agreement to Export Fresh Water from Suriname The Swiss based Amazone Resources has been granted a concession for 40 years to export fresh water. The company, with three Dutch owners, has an agreement that allows them to tap an average of 8 percent of water flowing in Surinamese rivers. This amounts to 12 billion cubic meters, said Amazone Resources Director, Cor de Ruiter. The company will be charged 36 percent in taxes and 22.5 percent in royalties starting in 2017. These royalties could climb as high

as 38 percent between 2028 and 2052. The government and the company will deposit 10 percent each in a special fund for projects to improve the potable water supply. De Ruiter explains Barbados is interested in fresh water from Suriname and the first export of 20,000 cubic meters is scheduled for late 2015. A cubic meter of water sells for three to eight US dollars in the Caribbean, but Amazone expects to be at least 50 percent cheaper depending on the distance. The company’s main well will be the Coppename River, because this is one of the few sources not polluted by industrial activities.

Trinidad and Tobago Assumes Chair of OAS Permanent Council

Above: Ambassador Neil Persan (centre) is the new OAS Permanent Council Chair (OAS Photo) Trinidad and Tobago has assumed the rotating chairmanship of the Organisation of American States Permanent Council. Trinidad’s permanent representative to the OAS, Neil Persan, assumes the role for three months. He promised to defend “the commitment of Trinidad and Tobago to the values and principles of the OAS” in his term. He succeeds the Ambassador of Suriname, Niermala Badrising, in the role. “I am proud to transfer the mandate to another Caribbean state,” Badrising said. BusinessFocus May / June

Is Your Board Prepared for a Crisis? by Dr. Chris Bart

One of the most important jobs for the board of directors of any company is to preserve and protect the assets of their organization of which the firm’s reputation is considered its most valuable resource. Accordingly, when a company is confronted with a crisis, its board should be very concerned. That’s because a crisis is an anathema to a firm’s reputation. And if it is handled poorly, the situation will usually only get worse, garnering unwanted and unfavorable attention by either the media or a regulator. Needless to say, corporations everywhere are surrounded with a countless array of both potential and sudden crises: CEO misconduct, rogue executives, fraudulent activities, major product failures, environmental incidents, cyber/terrorist/ social media attacks, persistent financial problems…it’s an endless list. And when one of them hits, and one of them will eventually hit most corporations, chances are the affected organization will only have a few hours to respond appropriately. In the process, a major crisis will reveal the organization’s preparedness and responsiveness and it will demonstrate both the authenticity of the firm’s values as well as the quality of its leadership. Time also seems to speed up in a crisis and if serious mistakes and missteps are made, it can plunge the organization into chaos, destroy its reputation and even force its closure. Thanks to social media, there is BusinessFocus May / June

usually little wiggle room available when expected response times shrink from days and hours to even minutes. It is for these reasons that boards need to have reasonable assurance that their organization is well-equipped to handle a crisis when it occurs. Gaining such assurance is part of their “oversight responsibilities” as governors and fiduciaries of their companies. Yet amazingly, one survey of CEOs recently reported that, while most believed their organization would experience a crisis of some sort in the next year, approximately half claimed their organizations were unprepared to handle it. And, of those prepared, many said their plans were seriously deficient. With so much at stake, boards simply cannot allow their firms to be part of these shocking statistics! Savvy boards therefore need to evaluate their organization’s capacity to effectively deal with a crisis both before and when it occurs.

The Before Part In the “before” part, it’s absolutely vital that the mass of crisis preparedness work be done up-front. Boards need to routinely assess their organization’s ability to identify, manage, monitor and mitigate those major risks which have the potential to turn into a crisis. In other words, the best crisis management systems are ones in which the crisis never happens (due to

brilliant crisis mitigation maneuvers) or, if it does, few hear about it. To help make that happen, boards should look for a crisis management framework whereby the primary emphasis is on preparedness, monitoring, and responsiveness – and

Dr. Chris Bart, FCPA is a recognized governance authority, the author of two best sellers, and Co-Founder of the Caribbean Governance Training Institute. The Institute is currently providing throughout the Caribbean an intensive 3 day, six part corporate governance program leading to the prestigious internationally recognized Chartered Director (C.Dir.) designation. For more information visit CGTI’s website: http://www. caribbeangovernancetraininginstitute. com/ or phone Lisa at 758 451 2500

in which the latter is tested frequently through scheduled simulations, not when the crisis actually strikes. Indeed, research has shown that those firms which have anticipated, strategized and frequently practiced various potential crisis situations are much more capable at responding swiftly and appropriately when the proverbial wolf actually appears at the door. That’s because simulations help pinpoint possible deficiencies (e.g., who can and who cannot handle the pressure) and isolate where (and how) response plans need to be strengthened. Just as important, though, a sound crisis management system also clearly specifies the various roles, responsibilities and accountabilities - before, during and after the crisis - of all key stakeholders such as the board, management (e.g., CEO, CFO, Lead Crisis Manager, General Counsel and a Communications Expert) and others, with media training considered essential for all. Finally, while it’s important to identify an organization’s top 5-10 major risks (or “crisis triggers”) as part of the crisis planning process, it’s virtually impossible to strategize in detail for every other type of danger. And even companies with advanced and cutting edge crisis management plans can sometimes fail to foresee novel or unimaginable dangers and hazards, typically referred to as Black Swans. It’s therefore important not to try and create separate plans for every “other” potential crisis but rather plan for varying degrees of ‘business interruption’. So what then should the board itself do in preparation for the next possible crisis? Interestingly, a good board should start by evaluating its own performance as displayed during the last crisis through some sort of self-evaluation. It should also reflect on who the “point person(s)” on the board are during such an event. More specifically, is it the board chair who should be seen to be in charge “on-camera” or should it be the chair of a committee that the crisis most directly affects, such as compensation, safety, environment, governance, audit, etc. Regardless of the situation, the goal of every board in assessing their company’s crisis management system is essentially the same: to gain reasonable assurance that their organization can act authoritatively, assuredly, appropriately and swiftly when it is faced with any crisis. And it should put questions to management on a regular basis around each of these key conditions – especially as new information emerges. Accordingly, key questions that boards

should ask in advance of a possible crisis include:

1. Does the organization know exactly

what it should be doing as part of its preparation for a crisis? In other words, does the organization have a formal crisis management plan (including simulations) that deals with significant risks? 2. How up-to-date is the crisis management plan? 3. Is the plan sufficiently detailed and understood by those charged with its implementation? 4. How quickly can the crisis response team be assembled and activated? How much time is required from the emergence of the crisis to first response? 5. Are those charged with executing the crisis management plan appropriately trained to handle the situations anticipated by the plan? How comfortable and flexible are they operating under extreme pressure and uncertainty? How well do they communicate? Can they inspire confidence amid chaos? 6. Is the crisis management plan appropriately resourced?

The “After” Part Once a crisis does materialize, whether or not the crisis preparation work has been done beforehand, boards must exercise their second ‘crisis oversight responsibility’ to continuously monitor and evaluate the quality of their organization’s responsiveness to the situation. This would again include assessing: the team put in charge to handle the crisis; the emergent crisis response plan; the degree to which everyone on the crisis response team knows and understands their roles and responsibilities in relation to the plan; the degree to which the team is able to competently carryout their assigned jobs; the need for a “specialist” media spokesperson; and the communication plan for all stakeholders. While all of these items are important, the real key to skillfully and successfully managing a crisis, however, is the organization’s ability to provide a rapid response to all relevant stakeholders (employees, customers, regulators, shareholders, etc.) with communications that are timely, frequent, accurate and above all empathetic. Boards therefore need to have confidence that their organization, through its communications, is showing sufficient concern and support to affected stakeholders and doing whatever it can to help overcome their pain and distress. Failure to do so can quickly turn a crisis into a reputational

nightmare for a firm and destroy the loyalty of those stakeholders who were once willing to sympathize with the organization for the situation that it now finds itself in. And beware, social media only makes communication missteps even worse…much, much worse. Nevertheless, there will come a time when it will be appropriate to declare that the crisis has ended and to resume normal business operations. However, selecting that time can be tricky. Calling it quits too soon, when there is still mopup work needed to be done, will fuel the ire of those stakeholders who feel they are being neglected. Waiting too long, on the other hand, runs the risk of distracting the organization from getting back to its business and the battle of beating the competition. Boards therefore need to have a continuing dialogue with their CEO on this matter as the crisis begins to wind down. The directors also need to have a soul searching conversation among themselves as to how well – and appropriately - the board provided oversight (and NOT management) to the crisis. They should especially reflect on what the board learned from it and whether the existing governance systems need to be modified in some fashion to help better in the identification, management, monitoring and mitigation of risks that could potentially turn into a crisis. In conclusion, recent headline-grabbing corporate crises have emphasized the necessity of every organization to have a sound crisis management system for ensuring its sustainability. Effective crisis planning, however, begins with tone-at-thetop and especially the need for directors to provide more diligent oversight, through probing questions, on the quality of this activity in their companies. Sadly, too many boards frequently leave their firms and themselves vulnerable because they have decided not to do this. So here’s the big, uncomfortable question for Caribbean directors: to what extent does your board have the assurance it needs regarding your organization’s readiness and strategies for dealing with a crisis? If you think that there is room for improvement in the way your board carries out this important governance oversight function, you might want to consider sending them to one of the corporate governance training programs currently available in the region – like the one currently being offered by The Caribbean Governance Training Institute. After all, it’s not education which is expensive, but rather ignorance. ¤

BusinessFocus May / June

BUSINESSTECH TECH BUSINESS

CWC/ Columbus Merger Finalised for our people that either company could never have achieved on their own,” the official said. Bentley noted that as part of the integration process, the Company “is undertaking a full review of all the brands we currently operate under, including the Flow and LIME brands as well as the business and wholesale brands,” but added that “no decision has yet been made.”

According to Bentley, there has been an extensive and professional regulatory review, with appropriate remedies and the companies are pleased to now have the necessary Government support to conclude the important transaction and to start making the financial commitments.”

t the end of March, Cable and Wireless Communications, Plc (CWC) announced the completion of its US$1.85bn acquisition of 100 per cent of the equity of Columbus International Inc.

Commenting on the completion of the transaction, Chief Executive Officer, Phil Bentley, said: “This is a transformational deal for Cable & Wireless Communications. Columbus Communications is an outstanding business; not only do we add significant fibre optic submarine backhaul and terrestrial broadband and TV capability to our leading mobile and legacy copper networks in the Caribbean, but our complementary B2B divisions can now offer geographical focus and a wider product offering in the faster-growing Latin American markets. “We expect the operating synergies to be significant; together, the new merged company creates the opportunity to invest more, grow faster, and provide an improved customer experience and, most importantly, a development opportunity

BusinessFocus May / June

Theses, he said, required to deliver an outstanding customer experience and to enhance the telecommunications infrastructure and economic development of the communities to be served under the merger. With regards to the merger and steps to follow, Bentley said, “Most of the markets we operate in have approved our integration plans and therefore today we can start to release some of the US$1.5bn investment monies we have set aside to provide our customers with an unrivalled telecommunications experience, improving coverage, reliability, products and speeds, and providing a welcome boost to both jobs and the economy in the countries in which we operate.” He continued, “In a small number of markets where we have yet to receive all the necessary approvals required, we cannot commence our integration and investment plans; we will therefore continue to support the local regulatory due process until we have the green light to move forward in those markets.”

C&W Communications Announces New Brands: Flow to be the Unified Caribbean Consumer Brand

ollowing the completion of the merger of Cable & Wireless Communications (CWC) and Columbus International on 31 March 2015, CWC recently announced new corporate and consumer-facing brands for the combined Group, which will be rolled out in the coming months in markets where the necessary regulatory approvals have been obtained. •

CWC will operate under the corporate banner C&W Communications.

•

A refreshed Flow will be the unified consumer-facing brand throughout the Caribbean, replacing the former LIME and Flow businesses. (Mas Movil and BTC will be retained as the consumer-facing brands in Panama and The Bahamas, respectively).

•

C&W Networks will be the brand representing the wholesale submarine and terrestrial fibre optic cables of C&W Communications, and the former Columbus Networks/JVCO business.

•

C&W Business will be the business-facing brand across the whole group, replacing the former CWC Business Solutions, Columbus Business Solutions and Sonitel brands.

Phil Bentley, CEO of C&W Communications said, “This is the beginning of a new and exciting chapter for us. With feedback from our customers and team members, we have refined our portfolio of brands to ensure they really represent the strengths of the combined group.”

He added, “Flow, with its bold blue colour, captures the essence of the Caribbean sea and sky, and is renowned for innovation, technical excellence and great customer service. It is time to say ‘goodbye’ to our old friend, LIME, as we look forward to defining new levels of customer service and product innovation under the refreshed Flow brand. We will be rebranding our stores, our vehicles, and our uniforms to Flow, and we plan to ‘paint’ the entire Caribbean blue.” In the Wholesale and Business markets in which the company operates, Bentley said, “C&W Communications has been a trusted company throughout the region for over a century. It was the first company to lay subsea cables in the Caribbean and across the Panamanian Isthmus. Our research, conducted with business customers, indicated deep confidence and trust in the C&W brand, in terms of reliability and resilience in our markets, whilst meeting the increasingly complex needs of our business customers.” Over the next few months, customers will be able to experience some of the cutting-edge innovation that C&W plans to bring to the market. The group will formally launch the new brands on a phased, country by country basis, as new and exciting products and services are introduced. Bentley concluded: “We are committed to creating a combined group with a new culture of innovation and technical excellence – backed by major investments – putting our customers at the heart of our business.”

BusinessFocus May / June

BUSINESSTECH TECH BUSINESS

and the Organization of American States Partner to Enhance Businesses Through the Use of ICT

Carib Export Associates With OAS to Provide Training to ICT Advisors

he Caribbean Export Development Agency (Caribbean Export) in collaboration with the Organization of American States (OAS) partnered with the Information and Communication Technology (CTIC) for the implementation of a training programme for ICT Advisors from 11 CARICOM countries (Antigua & Barbuda, Dominica, Grenada, St. Kitts & Nevis, Saint Lucia, St. Vincent & the Grenadines, The Bahamas, Barbados, Jamaica, Trinidad & Tobago and Haiti) during the period March 23 – 25, 2015 at a face to face workshop at Divi Southwinds Resort, Barbados, aimed at improving the competitiveness of firms through access, implementation, and use of ICT in business processes. “We want more businesses to take advantage of the trade opportunities that are out there, and we can do this by enhancing their competitiveness and productivity through the adoption and utilization of ICT in their businesses” expressed Pamela Coke-Hamilton. “The reality of the situation is that SMEs must embrace ICT to survive in today’s environment.” CTIC has successfully led a programme over the last twelve years to build capacity in the use of ICTs by SMEs through the

BusinessFocus May / June

training of ICT Advisors. ICT Advisors are then tasked with the responsibility of training SMEs in how to incorporate ICTs in their businesses so that they can become more innovative, profitable, and ultimately more competitive firms. The programme commenced in January of this year with six (6) weeks of online sessions and was completed during March 23-25, 2015 when technical advisors and ICT consultants from around the CARICOM region who work with micro, small and medium-sized enterprises (MSMEs) were brought together. At this session a commitment to establish an ICT Advisory Group comprising of regional practitioners to further the work required to assist regional SME’s to utilize ICT within their business processes was made. This action will dovetail with Caribbean Export’s regional ICT strategy. The ultimate objective is the enhancement of competitiveness and capacity of private sector firms. Following the training, the ICT Advisors will work with various Business Support Organizations (BSOs) in the Region to enhance the competitiveness of SMEs through infusing ICT in their business operations.

China’s

Unveils Smartphone By Richard Charan

UAWEI, the China-based global networking and telecommunications equipment and services company recently unveiled its latest smartphone, the P8.

The smart phone was promoted during the launch in London, England, as superior to the iPhone 6, and Samsung Galaxy, which have captured the lucrative market of high-end smart phone users. The P8 launch follows the marketing success of Huawei’s P6 which totalled five million units in 60 countries and the Huawei P7, which surpassed four million across more than 100 countries in just six months. At a function held in London, Huawei’s Consumer Business Group’s Richard Yu introduced the smartphone to an audience of about 500 international journalists and potential customers. Yu also unveiled a larger version to the smartphone, called the P8 Max. “The goal of Huawei P8 is to become the most user-friendly smartphone for consumers globally,” said Yu. “Through in-depth market research, Huawei has addressed the most pressing pain points for premium smartphone users today. Huawei seamlessly combines the best elements of style and durability in this device, delivering a revolutionary user experience – especially in terms of camera capabilities and network connectivity. Building on the outstanding market performance of Huawei’s P series, we fully believe the Huawei P8 will become one of the most popular smartphones of 2015.” The Caribbean is expected to be one of the areas targeted by Huawei, which has its regional headquarters in Panama, and does business across the Caribbean and Latin America. “The Caribbean is one of the fastest growing markets for Huawei’s consumer business in Latin America and even throughout the globe. Started in 2011, we have grown from being unknown to widely welcome and popular in Caribbean countries. We will continue putting more efforts on enhancing our brand and generating more business, but most importantly, keep bringing smart devices with cutting edge technology and better user experience. Huawei is looking at bringing P8 to Caribbean later this year.”

Broadband Connectivity Gap Survey Underway in Saint Lucia

The Survey Seeks to Find Reasons for the Digital Divide.

he Caribbean Regional Communication Infrastructure Program (CARCIP) has begun a survey aimed at collecting qualitative, quantitative, and demographic data, to identify the reasons for broadband connectivity gaps in urban and rural areas in Saint Lucia. The term used to refer to these connectivity gaps is digital divide or digital inclusion. The first leg of the exercise was held at the Sir Arthur Lewis Community College on March 25, where the CARCIP team, along with the broadband consultants, Decision Analysis, met with students and faculty members of the institution. The consultants oriented the SALCC representatives on how to set up and lead focus groups to conduct the survey and the most efficient way to gather market research. The results from the survey are expected to address why certain communities have restricted or no access to modern information communications technology (ICT), such as telephones, internet, and cable television. The survey will also assist CARCIP in determining network capacity requirements in new markets where there are no market needs, preferences and demand history, and provide the information needed to bridge connectivity gaps island wide, thereby ensuring that ICT is accessible to all Saint Lucians. The exercise is expected to run over several weeks and will be extended to Micoud, Soufriere, and Vieux Fort. The survey is the first phase of a joint broadband consultancy contract between CARCIP participating countries, Saint Vincent and the Grenadines, Grenada and Saint Lucia, and the US-based broadband consultancy firm, Decision Analysis. For more information visit the CARCIP website. BusinessFocus May / June

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Richard Peterkin, Partner, Grant Thornton

BUDGET REVIEW

The Appropriation Bill 2015-2016 The Budget Statement 2015 had as its theme â&#x20AC;&#x201C; Advancing Sustainable Development and Fiscal Stability. This Tax Newsletter provides highlights of Saint Luciaâ&#x20AC;&#x2122;s Economic performance in 2014-2015 and a brief summary of the fiscal measures contained in the Appropriation Bill for the year ending March 31, 2016. ECONOMIC PERFORMANCE IN 2014 While the rate of economic contraction of 0.7% in 2014 was lower than in 2013 it represented the third year of contraction in a row. The selection of leading economic indicators in the Table below illustrates the performance of the main sectors in the economy and some of the significant ratios. Tourism was once again the only productive sector that performed better than expected in 2014 with growth of 7.7% in overall arrivals, 6.1% in stay-over arrivals and 8.0% in Cruise Ship arrivals. Total visitor expenditure increased by 14% and average occupancy, daily revenues, hotel occupancy and employment all reflected increases. Unfortunately, this was not sufficient to generate overall growth in the economy. BusinessFocus May / June

Indicators and Sectors

Revised 2013

Preliminary 2014

Rate of Growth

(1.9%)

(0.7%)

GDP at Nominal prices (EC Millions)

3,602.8

3,791.2

GDP per capita (US$)

6,6747.2

6,847.6

1.5%

3.5%

Inflation Rate (average) Unemployment Rate

23.3%

24.4%

Total Visitor Arrivals

960,617

1,034,332

Stay-over Arrivals

318,626

338,158

Cruise Ship Arrivals

594,118

641,452

Visitor Expenditure (EC Billions) Banana Exports to the UK (tonnes) Manufacturing Production (EC Millions)

1.76

2.01

12,353

8,896

285.2

273.5

Public Debt (EC Millions)

2,656.2

2,787.0

Public Debt/GDP

73.7%

73.5%

Credit to the Public Sector (EC Millions)

307.9

257.1

Loans to deposit ratio

119.0

109.0

Overall construction activity declined, manufacturing production and Banana exports contracted, public debt increased by 4.9% to 73.5% of GDP and inflation spiked to

3.5%. The overall unemployment rate increased to 24.4% and youth unemployment increased to 41.8%. Central Government’s fiscal performance improved as evidenced by the following:

Expressed in EC$ Millions

2014/15 Approved Budget

2014/15 Preliminary Outturn

2015/16 Approved Budget 984.2

REVENUES Current revenue

868.4

916.9

Capital Revenue

1.5

0.2

7.6

Grants

96.7

53.3

126.0

Total Revenue and Grants

966.6

970.4

1,107.8 930.5

EXPENDITURE Current Expenditure

853.9

873.8

Debt Amortization

71.9

70.8

119.6

Total Recurrent Expenditure

925.8

944.6

1,050.1

Capital Expenditure

326.3

235.4

414.2

Total Budget Outlay

1,252.0

1,180.0

1,464.3

14.6

43.1

53.7

Recurrent Deficit

(57.3)

(32.7)

(57.3)

Overall Deficit

(213.5)

(138.8)

(226.9)

Current Surplus (Deficit)

• A 5.8% increase in current revenue; • Containment in the growth of current expenditure to 0.7%, notwithstanding Government’s inability to reduce public sector wages and salaries by 5%; • A Current Account surplus of $47.5 million following two years of deficits; • A 12% reduction in capital expenditure; • A reduced overall deficit of $126.4 million or 3.4% of GDP compared with 5.8% in the previous two years, and projected in the budget. Some of these improvements were due to domestic policy measures contained in the 2014-2015 Budget and implemented during the year. VAT receipts increased by 12.5% to $337.9 million, representing 36% of Current Revenue, as the VAT rate on Hotels and related services was increased from 8% to 10% and the list of VAT exempt items was reduced. In the absence of projected savings on public sector wages and salaries, Government was unable to implement proposed tax measures to reduce the Corporate and Personal Tax Rates to 28%, and increase the personal tax threshold to $21,000. Central Government was able to source the financing required for Capital Expenditure and Debt Amortization, but was more dependent on Treasury Bills and Loans. The weighted average cost of debt increased to 5.52%, and total debt service as a percentage of Current Revenue increased marginally to 23.1%. ESTIMATES 2015-2016 The total Budget outlay of $1.46 Billion is $212.2 million (17%) higher than the Approved Estimates for 2014-2015 and $284.2 Million (24%) higher than the preliminary results for that financial year. The biggest single increase in the Budget is Capital Expenditure, which is 71.6% higher than actual Capital Expenditure in 2014-2015 and 26.9% higher than the Budget for that year.

FINANCING REQUIREMENTS External borrowing

96.1

115.9

91.3

T-Bills and Bonds

117.4

161.1

255.1 346.4

Total Financing Requirements

213.5

277.0

GDP at Current Cost (Billions)

3.79

3.74

3.88

Current Revenue - % of GDP

23.3%

24.5%

25.4%

Current Expenditure - % of GDP

22.9%

23.4%

24.0%

Overall Deficit as a % of GDP

(5.8%)

(3.7%)

(5.8%)

Current Revenue is projected to be 7.3% higher than was achieved in 2014-2015 as a result of a number of new tax measures: • $12.0 million in fees as a result of the implementation of a Citizenship Investment program in Saint Lucia; • $10.2 million as a result of an increase in the Customs Service Charge from 5% to 6%; • $9.5 million as a result of an increase of 50 cents per imperial gallon in the charge on fuel purchased by LUCELEC for the generation of Electricity; • $3.6 million from increases in Vehicle license following reforms that will base fees on the weight of vehicles, with some exceptions. Notwithstanding some tax reforms in the Budget, Current Revenue is expected to remain reasonably buoyant, and would increase to 25.4% of GDP if targets are achieved. VAT revenues are projected to increase by a modest 2.4% to $343.7 million, partly as a result of the increase in the VAT from $180,000 to $400,000 reducing the number of VAT registrants by 600 and other VAT amendments. Grants of $126.0 million, which would be the highest level of Grants ever achieved, are expected to come mainly from Taiwan ($56 million), the EU ($30.9 million), ALBA ($20 million) and CDB ($6.5 million). Recurrent Expenditure of $1,050.1 million represents an increase of 11.2% over actual expenditure in 2014-2015, and an increase in current expenditure to 24.0% of GDP. The Expenditure Estimates comprise: BusinessFocus May / June

Expressed in ECS Millions

2015/16 Budget

Increase

% Increase

Wages and Salaries

469.1

9.4

2.0

Goods and Services

171.6

8.7

5.3

Transfers

114.2

13.0

12.8

Interest Charges

165.6

20.6

14.2

Debt Amortization

119.6

48.8

68.9

Refunds

10.0

5.0

100.0

1,050.1

100.5

10.6

Total

Benefits (Life Insurance, Pensions), Education (Child allowance and Student Loan interest) and Housing (Mortgage interest and Property Tax); • A limitation on the aggregate of all the deductions claimed to $25,000 in any or all of the priority areas, based on actual expenditure incurred Under the new system it is estimated that approximately 92% of all taxpayers would be better off or unaffected by the changes. This reform is expected to reduce personal tax revenue by $8 million a year.

The Estimates would appear to assume that Government will be able to secure an agreement with the remaining Public Sector Unions for no real increases in salaries and wages in 2015-2016.

Effective July 1, 2015 NIC has been authorized to increase Pension benefits and lump sum benefits by 3%, increase the Funeral Grant from $1,750 to $2,500 and allow persons to receive pensions on or after the age of 65 even if still employed.

The largest increases are in interest charges and debt amortization, as a result of increases in the level of public debt and the weighted average cost of capital, and the shift in borrowing towards debt with shorter term maturities and external borrowing.

Changes to the structure of the IRD will include modernization, enhanced taxpayer service and compliance, and integration of the administration of VAT into the mainstream operations of the IRD.

Capital expenditure of $414.2 million includes a wide variety of new or continuing projects in the Productive Sectors, Infrastructure, Human Capital, Sports, Social Protection, Poverty Alleviation and Employment. Projects include Road Infrastructure of $46.6 million, Tourism Marketing and Promotion of $39.9 million and St. Jude’s and New National Hospital expenditure of $ 56.4 million. Reforms and Adjustments proposed in the Estimates include amendments to the VAT System, Personal Income Tax reform, Changes to the Structure of the Inland Revenue Department (IRD), increases in NIC benefits and Vehicle License reform. In addition to the increase in the VAT threshold to $400,000 changes are proposed to defer the payment of VAT on the importation of capital goods until the goods are in use, exemptions on the unconditional gifts of service to Government and exemptions on the importation of replacement goods. The proposed reform on Personal Income Tax are radical changes to the tax regime, but do not go into effect until January 1, 2016. The changes include: • An increase in the individual personal allowance from $18,000 to $25,000 which would eliminate the need for 2,705 taxpayers to file a return or pay income tax; • An amendment to reduce the personal tax bands to 2 bands: 15% on chargeable income up to $30,000 and 25% on chargeable income over $30,000; • Limitation of existing deductions to four priority areas, Medical insurance premiums and expenses, Future

BusinessFocus May / June

CONCLUSION The 2015-2016 Budget is an ambitious and optimistic fiscal plan that changes the economic strategy from consolidation to stimulus based on public investment in infrastructure, designed to ensure economic growth and increased employment in 2015-2016. Whether this strategy will produce planned growth of approximately 1.5% will depend on a number of factors: • The ability of Government to access the significant increase in Grant funding to finance increased current and capital expenditure; • Success in the securing the agreement of Public Sector Unions to accept no real increases in wages and salaries in 2015-2016; • Significant improvement in Public Sector capacity and productivity to radically improve the quality, efficiency and implementation rate of Capital Expenditure; • The ability of Government to sell $189 million in Bonds, and $65.9 million in Treasury Bills and access $91.3 million in external borrowings, without any significant increase in the cost of servicing the new debt, or increasing the debt to GDP ratio to even further unsustainable levels. • The absence of natural or economic shocks which would severely impact the ability to achieve the stated goals given our extreme vulnerability to any shocks, and the challenging global environment.

BusinessFocus May / June

MONEY MATTERS BUSINESS TECH

to Buy Suriname’s Royal Bank

By Leah Sorias

epublic Bank (RBL) recently announced plans to acquire Suriname’s third largest bank, RBC Royal Bank Suriname NV, from the Royal Bank of Canada for an estimated cost of US$39.8 million.

The acquisition is expected to increase Republic Bank’s footprint in the Caribbean to eight territories, Republic said in a statement. Royal Bank of Canada in its own statement from Toronto, Canada said it expected the transaction to result in a loss for it of Can$23 million under international financial reporting standards. Republic Bank noted that at the end of the acquisition it intends to rebrand the subsidiary in Suriname. “By drawing on its proven track record of adding value to the markets it enters through the enhancement of customer experience, Republic will make available to the Surinamese market a wide array of products and services, as well as access to its wealth of banking expertise. This includes commercial and retail as well as merchant and corporate banking.” Republic noted that a Share Purchase Agreement was executed, signalling the start of the transaction which is subject to customary closing conditions, including regulatory approvals. The bank noted that the acquisition will be accretive to its shareholders and expected to be completed in the coming months. BusinessFocus BusinessFocus May May / / June June

20 20

Earlier RBC said the loss from the Suriname sale largely related to an estimated write-down for the proportionate share of RBC Suriname goodwill and other intangibles. “The loss is based on current estimates and is subject to change and will be reflected in the results of the second quarter ending April 30, 2015,” RBC said. RBC will release its second quarter 2015 results and host an earnings conference call on May 28. Head of RBC Caribbean Banking Rob Johnston explained that following a thorough and careful review of RBC’s Suriname operations, the bank concluded that the best decision for the long-term future success of the operations was to sell it to a strategic buyer with interest in building a presence in Suriname. “Republic Bank Ltd, which also has operations in neighbouring Guyana, is exactly such a partner,” Johnston said. RBC Suriname operates a six-branch network with assets of approximately US$525 million (as at October 31, 2014) and an employee complement of 199 people. In making the announcement of the RBC Suriname acquisition, Republic Bank Managing Director David Dulal-Whiteway noted: “As a Caribbean-based bank, we are always on the lookout for opportunities in the region. Suriname’s diverse and stable economy makes it an attractive investment territory and one that we have been desirous of entering since 2012. We view this opportunity to acquire Suriname’s third largest bank as a solid entry point into that market.”

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BusinessFocus May / June

MONEY MATTERS

BITCOIN Sets Up in the Caribbean

BITT was founded in 2013 by Gabriel Abed and Oliver Gale

he disruptive new kind of money that is Bitcoin has now made its way officially to the Caribbean.

The Caribbean Digital Currency Exchange, BITT, launched recently in Barbados, having secured US$1.5m seed funding from Venture Capital group – Avatar Capital, a Caribbean investment group based in Trinidad and Tobago. It will serve as the frontrunner in the Caribbean’s burgeoning cryptocurrency ecosystem. BITT will serve as a remittance channel and merchant processing gateway, keeping 95 percent of customers’ bitcoin offline. BITT claims to have implemented “military grade security” with a multi-signature HD wallet system. It is powered by AlphaPoint, an exchange technology platform provider that also offers its solutions to Bitfinex and Cointrader. Consumers will be able to trade in 11 major fiat currencies, including the US dollar, the pound and the euro. The company was founded in 2013 by Gabriel Abed and Oliver Gale. “The BITT Exchange is a cornerstone project for digital finance in the Caribbean. By facilitating trade between traditional and digital currency markets, BITT is creating the platform for very low-cost international commerce and remittance between the people who need it most – the millions of unbanked and underbanked citizens in the Caribbean,” Abed said. “Avatar backs BITT with full confidence,” said Peter George, Director of Avatar Capital. “We are pleased to invest in the development of the cryptocurrency industry in the region. It is our hope that this investment benefits the people of the Caribbean and becomes the catalyst for digital currency trading in this part of the world.”

BusinessFocus May / June

EU 3.5 Million Euro Project to help Small-Scale Coconut Farmers

ccording to the Caribbean Agricultural Research and Development Institute, the demand for coconuts and coconut by-products has skyrocketed on both the regional and world markets within recent years.

The European Union is financing a project aimed at enhancing the competitiveness of small-scale coconut farmers by identifying market opportunities, creating synergies between national and regional programmes and improving access to advisory services for improved production. The Caribbean Agricultural Research and Development Institute (CARDI) in partnership with the Geneva-based International Trade Centre (ITC) and the EU are implementing the Euro3.5 million (One Euro=US$1.29 cents) project. The project will be undertaken in nine Caribbean Forum (CARIFORUM) countries. CARDI said that, within recent years, the demand for coconuts and coconut by-products has skyrocketed on both the regional and world markets. “Many Caribbean countries have been unable to satisfy this growing demand due to setbacks experienced by industries in the early 1980’s. Principal among these have been the loss of international markets for traditional products, loss of consumer confidence, ageing populations and growing pest and disease problems.” CARDI said it welcomed the support to revitalize the coconut industry in the Caribbean because of its “significant potential to contribute to economic development and poverty reduction in the benefiting countries”. Phase one of the project will engage national stakeholders in formulating road maps for market-led development of the coconut and coconut products sector, as well as to agree on implementation plans. CARDI and ITC will be hosting ‘Value Chain Development Road Mapping’ workshops to address critical areas such as market options, production and productivity, support services and the policy environment among others.

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Luxury Meets Performance with Mercedes-Benz and new dealer Capital Motors In 1885 the makers of the first ever automobile introduced the Mercedes-Benz brand to the world with the slogan “Das Beste oder nichts” or “The best or nothing” in English – a mantra just as relevant today as it was then. The brand is now officially available in Saint Lucia under the broad but formidable JQ Charles Group’s umbrella which is represented by industry-leading skills and technology that is already effectively managing five other exceptional brands including Audi, Suzuki, Chevrolet, Fuso and Mitsubishi. Unveiled recently to the St Lucian public, in a manner fitting for luxury and performance, the collection of Mercedes-Benz will be available from Capital Motors Ltd.; a new subsidiary company of the Group with its showroom and premises located in the Chakiro Court building in Vide Boutielle with more than a dozen spanking new introductory units expected within the next several months. Mercedes-Benz is one of the best-known and established automotive brands in the world, and is also one of the world’s oldest

automotive brands still in existence today. That is why Capital Motors will be looking to drive examples of this prestigious brand into the garages of new clientele. Representing the JQ Charles Group’s automotive interests at this launch, Jason Clairmonte tells Business Focus that a premium brand like Mercedes in a market like Saint Lucia requires a more personal and direct kind of prospecting approach. “You tend to have a little bit more of a personal touch when it comes to actually prospecting for Mercedes. That is what sets it apart. We will be dealing with a smaller volume of clientele and we will be pitching directly to that clientele.” “We still want to retain the existing customers but we are also looking at the younger segment and the models they would prefer, and also, more models focused on women’s preferences and buying priorities. We want to broaden the brand appeal a little bit, it already has a larger potential than what has been seen before, and it is our intention to maximize the brand,” the Clairmonte said. Capital Motors will achieve this by incorporating a wider variety of models like the A200 and the GLA Classes which he believes will help expand the demographic that would consider the brand. Later on, models like the GLC and GLE Coupe will provide mid- and upmarket options in the brand and its model portfolio will continue to become more interesting to its potential clientele. BusinessFocus May / June

With the introduction of this new addition to the local market, Clairmonte revealed that the company will now look to consolidate and stabilize the brands that have been added to its portfolio over the last year, allowing the brands, their existing clientele and the staff, systems and training to acclimatize to the specific needs of the expanded clientele of the J.Q. Charles Groups’ automotive businesses. “There has been a strong influx of customers for the new brands in our portfolio and we have to refine our processes in order to ensure that we can keep pace with the expectations and volume of those customers. When we move to introduce new brands we are always keen on ensuring that we are able to represent the brand well and promote it effectively,” Clairmonte said. Clairmonte has now joined his counterparts around the world in underlining the state-of-the-art and efficient drive technology, combined with superior ride quality, versatility and robustness typical of Mercedes-Benz. Even in an island nation like Saint Lucia, he says Mercedes, whether sedan or SUV, will deliver outstanding safety and a high level of driving dynamics both on the roadways and other terrain. Every decade for almost 130 years, Mercedes-Benz has reinvented the automobile. From luxurious sedans preferred by heads of state to legendary off-roaders to winning turbo-hybrid racecars, if it wears the Silver Star, it’s the best of whatever it is.

BusinessFocus May / June

Principal and Staff

Celebrates A Decade of Delivering World Class Education

iversity, leadership, unity and excellence – these are the four pillars that form the foundation of the International School St. Lucia (ISSL) in Rodney Bay that embodies a student complement covering 19 nationalities.

Established in 2006, this institution prides itself in the delivery of quality education to students from Grades 4 to 12, with a curriculum that meets the highest Canadian standard currently ranked fifth in the world. Presently, Saint Lucians make up 60 percent of the student body, all of whom have access to a quality of education with past graduates gaining acceptance to universities and colleges the world over. Of the 16 new graduates set to embark on the new leg of their educational adventure after June 2015, more than half of these have already secured early acceptance into Universities in the United States, Canada and Europe. Principal of the International School Mr. Paul Hutton boasts that this small group of academics have received a combined scholarship valued at over US$65,000, adding to a pool of more than US$300,000 that would have been made available to graduates from the International School over the past three years. “In the last three(3) years, our graduates have attended universities such as: University of Waterloo(Canada), University of Toronto(Canada), Ryerson School of Business(Canada), Hollins University(USA), Manchester College(UK) and the University of New Brunswick with scholarships totalling over $300,000.” Hutton said. Saint Lucian students completing their CXC/CSEC examinations with level 3 or above will be credited for their grade 11 courses, BusinessFocus May / June

allowing them to complete their studies at ISSL in one year. Each graduate, with the assistance of the Guidance counsellor, has the opportunity to apply for and attend universities or colleges anywhere in the world. Chairman of the School Board Dr. Tanya Destang-Beaubrun said, “the International School Curriculum emphasizes critical and creative thinking, teaching children how to access information, utilize it wisely and become effective problem solvers.” Citing the history of the school, Dr. Beaubrun explained that contrary to popular opinion, the International School is not an institution for the perceived societal elite, but instead it is one armed with the tools to address the individual learning abilities of each child. “The school came about with a desire to really put children first and to cater to the needs of each individual child,” Dr. Beaubrun said. “It was simply a desire to focus on the needs of our children.” Preparing children for the 21st century begins with engaging them in a student-centered, critical thinking learning environment where they take ownership for their learning. Working in collaboration with others while solving problems are the skills needed for those destined for the world of work or for university/college. “In talking to our ISSL students one could easily discover a level of commitment to learning, self-motivation and self-improvement that is natural in this type of learning environment.”

Founding Board Members

According to the School Board Chairman, the International School has evolved considerably since its birth in September 2006, and is now armed with an exceptional complement of teachers – the school’s greatest asset. She said the teaching staff, both St.Lucian and Canadian, are all professional, university-trained individuals with an approach that is inspired, student-centered, and individualized – all of which provide a range of opportunities for students to participate and excel in arts, academics, student leadership and community service. Existing Board Members

The teachers understand the importance of providing a supportive and stimulating learning environment and are committed to the intellectual and personal development of all students. “They are passionate, approachable and are always ready and willing to help,” she assured. Subjects available to students of the International School include English, Mathematics, History, Computer Science, Digital Technology, Accounting, Science, Law, Hospitality and Tourism, Physical Education, Geography, Nutrition for Healthy Living, Business and Management and more. These students work in a computer-based environment where there are many opportunities to do collaborative work, presentations, creative and analytical research, skills that are advantageous for both university and the work place. Despite the considerable environment created for work and learning, the International School has managed to skillfully marry a wide-range of extracurricular activities available in its auditorium, field and nearby facilities.

Principal and Chairperson

Students can take advantage of choir/band, documentary clubs, photography, football, fitness workout, art club, student council, yearbook committee, swimming, yoga and dance. The school also participates in Ministry of Education School Competitions like swim meets, football, art and poster competitions, spelling bees, table tennis and more. “Those four words of our motto describe for me what a school should be. For parents that want to have their children in a school where excellence is part of their daily routine, where acceptance, understanding of and tolerance for diversity is at the forefront, then this is where they need to be,” said Principal Paul Hutton. “Kids have a better, well rounded education in an environment like that. And that leads to success.” BusinessFocus May / June

WELCOME TO SAINT LUCIA Saint Lucia’s Revised Policy on the Yachting Sector – A message from the Ministry of Tourism’s dedicated Yachting Desk: Promoting a conveniently better experience for all yachting visitors to Saint Lucia!

The Ministry of Tourism, Heritage and Creative Industries wishes to inform all yachtsmen that Cabinet considered a Memorandum submitted by the Ministry... and approved the following on behalf of the Yachting Sector: 1. That yachtsmen be permitted to stay for a period of six (6) months instead of the current six (6) weeks. 2. That yachts which have been cleared for departure will be given the same rights as yachts passing through (up to 72 hours). 3. Yachts whose owners are on the island on a temporary basis should be allowed to remain in the state free of duties and taxes for a period of three (3) years, after which duties would become payable on the current value. 4. 100% waiver of Import Duty and Consumption Tax on Yachts imported into Saint Lucia for pleasure or commercial use. That all entries are subject to verification by the Ministry of Tourism. 5. 100% waiver of Income Tax from operations for the first five (5) years for local charter companies. That a minimum of four (4) persons, (one captain and three (3) crew members per vessel) be employed and that the charter company has a fleet of three (3) or more Powered or Sailing Yachts.

6. 100% waiver of Import Duty and Consumption Tax on all equipment and materials imported or purchased locally – to be used in the establishment of yachting infrastructure for a period of five (5) years subject to verification and approval of the Bill of Quantities by the Ministry of Tourism. 7. 100% waiver of Import Duty and Consumption Tax on boat safety equipment and watercraft activity equipment which includes sport fishing, scuba diving, kite surfing etc., subject to verification of Bill of Quantities by the Ministry of Tourism for five (5) years from the date of this Cabinet Conclusion. 8. There is now a functioning Yachting Committee chaired by the Maritime Consultant at the Ministry of Tourism – offering yachtsmen an active ‘Yachting desk’ contact that can assist and respond to the questions, needs and general feedback from all yachting visitors to Saint Lucia. Please feel welcome to get in touch with us (see contacts at the footer of this page).

For more inFormation contact our maritime consultant:

cuthbert DiDier | tel: +1 (758) 716 4449 | email: cdidier@gosl.gov.lc BusinessFocus May / June

Simply Beautiful

FEATURE

An Overview of Saint Lucia Yachting ... A myriad of factors converge to give Saint Lucia and the southern Caribbean a powerful appeal. Itâ&#x20AC;&#x2122;s partly the heritage interest of a part of the world that was effectively, the gateway to the New World six seafaring centuries ago. Its also partly the fact that Europe is now in the midst of that region, which is accessible from the mainland by an 8-hours plane ride, or a cruise of 2700 miles of empty Atlantic in under two weeks. The main key attribute for Saint Lucia is its unique location between Martinique (Europe in the Caribbean) and Saint Vincent and the Grenadines (biggest sailing playground in the Americas). Much of the growth and development in the sector has been spontaneous, with the private sector leveraging the comparative advantages of Saint Lucia, mainly location and topography. In 2014 9,177 yachts cleared into Saint Lucia with 46,845 yacht persons being processed by customs and immigration departments. Approx 450 Saint Lucians are directly employed in the yachting sector with 130 businesses servicing the sector. The economic impact presently of the yachting sector to the national economy is 160 million Easter Caribbean dollars per annum. The Government of Saint Lucia recognizes this benefit, and has prioritized endeavors to promote tourism development in the maritime sector. The yachting tourism industry as we know it today started in the early seventies. By 2014 the industry boasts: two full services MARINAS: - IGY Rodney Bay Marina, Marigot Marina, Soufriere Marine Management Area, Ganters Bay and one of the more competent Boatyards in the subregion. While it is a general observation that Saint Lucia has limited resources when it comes to the Yachting sector in Saint Lucia the island has more than sufficient basic requirements to facilitate real growth in the sector: topography, modern infrastructure, excellent events, weather, hotel plant and location, location location . . . There is still work to be done. We now have validation of the opportunities which the sector presents and we need to position ourselves to grow the sectorâ&#x20AC;&#x2122;s potential. In general, the sector needs ownership and clear defined polices which will address all of grey areas.

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Ministerâ&#x20AC;&#x2122;s Message

This sector is one which epitomises how our tourism industry has that capacity to impact on the economic and social fortunes of our island and our people specifically. It is dynamic. It is diverse in the scope of services required. It demands a level and quality of interaction with our people. It cries out for new events and activities that are innovative, fun and engaging. Our challenge is to ensure that we maximise on the opportunities that present itself. From the Government perspective, we will seek to develop this sector through several key pillars of support. Firstly through broader based infrastructural development, that establishes new marinas and modernises and expands existing ones. Secondly, we will facilitate the development of our human resources to ensure that we have the capacity diversity, and overall quality of service offerings that can sustain the industry. Lastly, we will establish the appropriate institutional and legislative framework that will encourage greater investment and partnerships, regulate and standardize the operations within the industry and ensure a more efficient and effective environment for the sector to prosper. This is an exciting time. It is a time for true optimism. It is a sign of forging/fostering new partnerships and relationships. Let us seize this opportunity. Let us through our collective action demonstrate in very vivid and tangible terms just how valuable this sector is to our economic and social well-being.

Hon. LORNE D. C. THEOPHILUS Minister of Tourism, Heritage and Creative Industries

BusinessFocus May / June

The Russian Business Regatta Finds A New Home in Saint Lucia

In 2014, Saint Lucia hosted some 100 Russian Millionaires who came to the island’s shores to race in Yachts. The event, which is known as the Russian Business Regatta, was pereviously held for three years in Antigua, but through the Ministry of Tourism and the Prime Minister’s Office, Saint Lucia was able to capture and host the event. This first step is seen as the start of a new addition and positioning for Saint Lucia’s Yachting product. That is : to find readily available yachts and invite regatta enthusiasts from all over the world to sail in, party and enjoy Saint Lucia. Events like this also promote the island as an investment opportunity, encouraging high net worth persons to explore investment opportunities and liaise with agencies such as Invest Saint Lucia, the Saint Lucia Tourist board and the Prime Misters Office. Last year’s event opened with a great cocktail party hosted by the Prime Minister at his offical residence for the Russian participants and the business community. Through the Maritime Consultant’s desk, work has started in encouraging a company called G Force Yachts to establish an assembly plant here to build formidible regatta yachts up to 35 feet in length. The idea is to have a fleet of these yachts on the island to further encourage Russians and other high net worth individuals to activly consider Saint Lucia as a choice destiantion for week-long regattas. This is truly a new and outstanding time for Saint Lucia with unique opportunities for potential investments in the islands marine industry. BusinessFocus May / June

From Fishing Villages to Commercial Shipping and Yachting

What began as a means of survival in at least six coastal communities scattered across the island, Saint Lucia and Saint Lucians have managed to skillfully intertwine this natural adaption to the sea and fishing, into a commercial exercise that is blossoming at a rate that has captured the attention of the international marine industry. Communities like Gros Islet – a traditionally quiet fishing village is transformed in contrast each Friday evening with the seafood spectacle anticipated by locals and visitors alike, both coming together to experience what most have endorsed as a true St. Lucian atmosphere. Minutes away from this traditional village with mostly 20th century architecture and handcrafted single engine propelled boats, is the 21st century Rodney Bay Marina littered with state of the art yachts and sailboats from ports around the world. This marriage of past and present is a great reflection of both the evolution and embrace of what has truly become the lifeline of the island’s economic standing.

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Such a union is almost equally repeated in Marigot Bay – home to the second but arguably smaller marina perfectly enveloping the world’s view of paradise and the facts on Caribbean living. Like the Northern village, Marigot Bay was built with a strong fishing history but with the increasing popularity of the Hurricane Hole and its record of protection for marine vessels, this location has almost overnight evolved into a safe haven for some of the world’s most beautiful yachts docked along side some of the villages’ most prized hand-crafted fishing boats. A short distance away by both land and sea are the sister villages Anse La Raye and Canaries – both fishing-dominant but still on the path to the development realized in the previous two. Anse La Raye is a fairly quiet fishing village where time almost stands still. It remains relatively intact with typical weatherbeaten wooden houses surrounding a kaleidoscopic shoreline of fishermen’s boats that have had their fair share of ups and downs at sea.

Canaries is quite similar but with a larger population and hilly terrain that slopes downward to an almost beach-less shoreline that provides a honest living for most families there today as it has for more than 100 years. Choiseul – a fishing village and art and craft centre where residents pride themselves on both their mastery of the sea and land, is next in line for development consideration. Just beside the main road both craft and marine life come together in the exhibit of working boats with skillfully handcrafted designs that separate the roadside from the sandy beach. Laborie and Praslin Bay are the two gems that would likely realize the modernized and antique co-existence of the north. A drive or sail along the western coast of Saint Lucia from North to South provides an exceptional picture of the marine advancements made in the island. A heavy focus on the developments in the north can be credited to many things but whatever those credits might be, Saint Lucia’s evolution from Fishing Villages to Commercial Shipping and Yachting is one that is certainly on the verge of a massive overtake.

The Evolution and Impact of Rodney Bay

From Sir. John Compton to Arch Marez

An idea that began in the 1960s with the late Sir John Compton and endorsed and invested into by the late Arch Marez in 1986 has propelled Saint Lucia’s standing as having the finest marina in the Southern Caribbean for yachts of all sizes and formidable mega yacht berths – Rodney Bar Marina. The evolution of this jewel which started with the father of the nation Sir. John Compton has positioned Saint Lucia as one of the core mega yacht destinations in the Caribbean. Arch Marez, a Los Angeles California native and inventor of the digital heart pacemaker among other things, created this world class facility - the Rodney Bay Marina. In 1979, Marez who always had a love for the art of sailing, traveled to the Caribbean on his spanking new US$200,000 Swan yacht, from Finland. He arrived in Saint Lucia in 1980 where he settled after establishing a winter home at Cap Estate and acquiring land in Rodney Bay, where he built the marina with his own funds. Marez opened the Marina in 1986 where his love for the sea was fully embraced and Saint Lucia was established as a destination for cruisers, sailors, and sportfishermen as well as an ideal hurricane haven. Marez died in 2005.

In January 2009 the facility was rededicated under the management of Island Global Yachting (IGY), which welcomed almost immediately the boats participating in the 2008 Atlantic Rally for Cruisers (ARC). For over 20 years, Rodney Bay Marina has been the completion stop for the punishing, 2,700 nautical mile ARC, in which 200 plus yachtsmen partake each year. Rodney Bay Marina stands today as an official port of entry with immigration and customs’ offices.

Sir John Compton

It is a full service facility with 253 berths – each with individual meters for electricity and water. The facility also features first-class restroom facilities, a swimming pool and recreational area, as well as restaurants, banks, a supermarket, car rental agencies, taxis and boutiques. The dry dock facility accommodates up to 120 boats with on-site workshops for wood, fiberglass, aluminum, stainless steel and bronze. Duty free fuel is available for outgoing boats and there is a well-equipped duty free chandlery on site. The ensemble of great beaches, nearby restaurants and enticing shopping malls are added incentives to stop in beautiful St. Lucia’s Rodney Bay Marina. Arch Marez BusinessFocus May / June

Marigot Bay

A Natural Harbour and Yachtsman’s Haven On Saint Lucia’s west coast sits perfectly one of the most beautiful and undoubtedly safest natural gems in the Caribbean – Marigot Bay. It is hurricane proof and home to an outstanding assortment of yachts – small and mega. It is shielded by beautifully forested hills, concealing an extraordinary natural harbour often considered the most striking anchorage in the Caribbean and some might have identified it as the birthplace of Saint Lucia’s Yachting Industry with the docking of the 140foot craft in the late 1950s belonging to Canadian schooner, Captain Walter Boudreau. Amidst all this beauty and natural amazement is the community of Marigot, which has grown considerably in the years since the development of The Marina in 2007 and the establishment of the luxury Capella Marigot Bay Resort some years later.

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The two have combined to allow for elegance unsurpassed and discrete – a blend that makes it a haven for the best and most avid yachtsmen and celebrities in the world.

Unlike most in the Caribbean, Marigot Bay has never been dredged but has deeper water than most other marinas, with about 700 feet (218 meters) of stern to dock.

This recipe has also created an array of employment and advancement opportunities for the residents of the community with jobs ranging from that of yacht servicemen to concierges.

The location has earned itself the ranking of a landmark in Saint Lucia and is not only the native home of locals and the choice destination for scores of yachtsmen from around the world, but it was also the site of number of battles between the French and British navies in the colonial era; adding to its significance in the country’s history – past and future.

Marigot Bay sits 20 minutes north of Soufriere and three miles south of Castries on the island’s west coast. It has the capacity to berth up to 40 yachts and affords sailors impeccable service, a well stocked chandlery, luxury provisioning, duty-free fuel are other trademark offerings. The Bay is also packed with bars and restaurants with exquisite dining options and remarkable spa services. The establishment of The Marina at Marigot Bay has undoubtedly aided in the significant expansion of the super yacht industry in Saint Lucia.

The Bay has also received its fair share of international popularity after being used as the setting for the 1967 film adaptation of Hugh Lofting’s Doctor Dolittle books. Scenes of the shipwreck, Great Pink Sea Snail, and the construction of the harness for the Giant Lunar Moth were also filmed in the bay.

IGY Rodney Bay Marina The Pacesetter

It has been almost 30 years since the birth of the Rodney Bay Marina – magnificent transition from a mosquito swamp in the 1980s to an exceptional facility that has become the pulse of the commercial activities Saint Lucia is known for today. The vision for what is now the Rodney Bay Marina was shared almost evenly between its founder Arch Marez and the father of the nation Sir John Compton. The Marina today stands as one of the Caribbean’s leading locations for yachting and sport fishing and attracts the wealthy attention of mega yachts to the humble beginnings of sail boats from around the world, some passing through Saint Lucia and others choosing the destination as its hub due to the equal reliability of the marina and the beauty of the island. In 1986, Cuthbert Didier – known today as Saint Lucia’s “Yachting Ambassador” joined the Rodney Bay Marina project as its Accountant and quickly rose to become the company’s General Manager with the guidance of his mentor and biggest supporter Arch Marez.

yachts up to 285 feet with drafts of up to 14 feet. The vision of the founders are coming into the focus of both the still fairly new owners IGY and the country’s administrators who recognize the significance of the boating sector and the marina to the development of the island’s economy and global standing in the industry. The outstanding facility is truly setting the pace of Saint Lucia’s economic development, serving as an official port of entry with immigration and customs firmly in place. Its location has served as the baseline for the establishment of the Rodney Bay community, which encompasses duty-free shopping, fine dining, entertainment and residential accommodation that cater to both locals and visitors alike. At least three banks, all a stone’s throw from each other further amplify the area’s economic significance.

Didier eventually spearheaded the sale of the Marina to Island Global Yachting (IGY) in 2007. IGY still manages the marina today.

The marina itself is not outside the reach of the residents of the island, boasting facilities of all kinds that appeal considerably to the residents of the nearby communities albeit family, couple or individual activities.

253 crafts can dock at once in the 4.5 acre boatyard, which fits perfectly with the outstanding slips available for mega

For the past several years, the marina has served as the impeccable finishing line to the exciting 2,700 nautical miles Atlantic

Rally for Cruisers (ARC), a punishing crossing endured by over 230 yachtsmen each year from around the world. ARC begins in Spain’s Canary Islands and for nearly 20 years it has ended at the Rodney Bay Marina. The ARC has brought with it 20 years of amplified economic activity in the area and has served as a respected and anticipated economic driver in the island, serving as a revenue stream for even the smallest of vendors and tour operators. Developing the facility that is now the Rodney Bay Marina was merely the beginning of the industry development that has now evolved as the pulse of an entire economy, sustaining it has become equally important. This determination to growth and advancement has resulted in the development of a dry dock facility that can accommodate up to 120 boats with on-site workshops for wood, fiberglass, aluminum, stainless steel, bronze and other yacht support services. The upside about this dry dock, as with most of the facilities around the marina, is that it is maintained almost entirely by locally trained skilled personnel – equipped and able to care for and restore from the most simple to the most complex luxury yachts available.

BusinessFocus May / June

Cuthbert Didier Shares His Passion

A Candid Interview on the Maritime Sector

It is no secret that the growth of Saint Lucia’s yachting industry and the growth of Cuthbert Didier are synonymous. Didier has been at the forefront of the industry since the late 1980s when he was recruited as an accountant of the Rodney Bay Marina – an outfit he saw the birth of and eventually led as its General Manager through to its maturity and to the historic handover to the Island Global Yachting (IGY) group. Today, he remains a leader in yachting and everything marine and maritime development in the island and stands as the go-to person for almost every figure from those in government to those in the private sector locally and internationally. Business Focus tracked down this leader and sought his insight into the growth and development of the industry he had a hand in building. Here are the questions we posed and the response provided by this marine guru: BF – There has been increasing concern for Maritime Security in the Caribbean. What are your thoughts on the matter and what do you propose would reduce these anxieties and potentially lessening the fears of yachters from around the world? BusinessFocus May / June

CD – There are three main areas of concern as it regards to this - beginning with piracy, which appears to be looming off the Venezuela and Trinidad coasts. The second is the issue of burglary and damage to yachts on anchor. The southern part of the eastern Caribbean appears to be plagued with these matters during the high season and any one event, however small, has a negative impact on the sailing experience for persons in the area. There is a major need for resources to be allocated at all ports of entry for a full 24hour surveillance. We need to move to a level where yachts getting into ports of entry can be monitored and properly documented prior to clearance. BF – How would you describe Saint Lucia’s Yachting Industry, from the 1980s to today? CD – We have definitely made quantum leaps within the yachting sector since the 1980s. No longer are we an undiscovered sailing route thanks to the Atlantic Rally for Cursers (ARC). Despite our progress we have still maintained the unique Caribbean scenery, which is critical to sailors from around the coast.

What has been our most defining moment though is our ability to marry the sailing experience with the present land based tourism infrastructure. Yachtsmen don’t just sail to Saint Lucia - because of all the soft adventure… infrastructure, shopping boutique hotels – they have been able to infuse themselves into our economy and that is what has made us a formidable destination. BF – Many of Saint Lucia’s ports have evolved from fishing villages to commercial shipping and yachting hotspots, what are your thoughts on these developments and what do you think it means for the further development of the island’s ports? CD – The first thing is that it has been a perfect natural progressing for Saint Lucia from fishing to official ports of entry, that has made the yachting experience very wide and unique mainly because these ports are scattered along the coast of Saint Lucia. For the future I think it means moving forward. There is now a greater onus for us to make the facilitation of yachts and fishermen alike at all ports, seamless. Whether Vieux Fort, Soufriere, Castries or Rodney Bay, we must move towards

embracing technology so that all aspects of our engagement with yachts are electronic. I truly believe that the less time yachtsmen spend processing and the more time they spend in actually enjoying the island, we will truly begin to grow leaps and bounds. We will begin to see this open the door for the decentralization of services and allow for the possible pre-clearance of yachts coming from other destinations and allowing for a much broader and seamless spurt of economic growth in areas of Saint Lucia that remain untouched. BF – Based on your position and influence, what does the future hold for furthering the industry considering existing policies.

Mr Didier dissertation - Latin American Fair

front condominiums which has created a unique matrimony between a marina operation to water front homes and boutique hotels. What this has created is a considerably high value for land that has ushered in some very focused development, which is now called the Rodney Bay Marina. When the marina was born it came with some very forward thinking. But then again you had two mavericks, one wanting to solve a mosquito problem while the other wanted to provide simple anchorage for yachts. Beyond a doubt the combination of these two visions have created a lasting legacy that has lead to not only the most beautiful bay, but also a site that screams, “come… let there be yachts.” BF – Do you believe the IGY Rodney Bay Marina to be a Pacesetter in Saint Lucia’s marine development?

Argentina Navy

CD – The present government’s policies must remain user friendly for visiting yachts. It must also continue to facilitate strategic alliances with key source markets like Russia, Taiwan and Argentina. Government agencies must also remain focused on being partners in the industry, not just regulators.

CD – Without a doubt! Island Global Yachting was and still is the best entity to take the marina in Rodney Bay to the next level. Thee are various players within the yachting sector and I still believe that where mega yachts and super yachts to Saint Lucia are today would not be possible without the Marina.

BF – The Rodney Bay Marina has evolved folds over and has had a hand in the economic development of the island in areas way beyond what was envisioned at the time of its construction. What do you think about the evolution and impact of that vision that was once shared between Sir John Compton and Arch Marez, your own mentor?

BF - Marigot Bay remains a natural harbour and certainly a yachtsman’s haven in the Caribbean. How do you foresee that being sustained in light of the overwhelming potential for further development there?

CD – Without a doubt, the Rodney Bay Marina, now operated by IGY, was the catalyst in creating growth within the yachting sector. Its evolution from constriction to operation has certainly positioned Saint Lucia to not only be the host of the Atlantic Rally for Cruisers (ARC) but also for ushering in several businesses, land development and water

CD – Marigot Bay should always remain a quaint unique yachting destination, within a destination. The scenery and location of the marina facilities and the location is so unique that it has been recorded considerably and not much has changed for the visiting eye of a wary yachtsman. Whatever improvements come to the marina must be quaint and focused on shore-based services only. The Bay must remain deep, tranquil and natural.

We must protect the present maritime locations. BF – There has been talk of the establishment of a marina in Soufriere, potentially amplifying the island’s footing in the regional and global yachting industry? Do you believe Saint Lucia is ready for this and how do you see it playing out should the development go forward? CD – St Lucia is certainly ready for a full service marina in the South, however Soufriere presents a unique landscape and because of its terrain any marina placed there would be a special feature. Soufriere needs organized mooring facilities similar or better than those that are now in place by Soufriere Marine Management Area (SMMA) so that yachts can enjoy the unique features of the Pitons.

Regnicoli Shipyard

BF – Discussions and studies about Castries being on the receiving end of a major transformation has been in the air for as long as most of us can remember. How do you feel about the process so far? CD – The process is taking way too long and the time and opportunity is now. This will re-invent Castries so that it takes its rightful place as a waterfront city in the Caribbean. The present layout is not inviting and does not reflect its rich maritime history. BF – The St Lucia Yacht Club has served as the breeding ground for our next generation of sailors. What are your thoughts on the contribution the club has made so far to the industry at an island level and how do you see that being reflected in the daily lives of the normal man? CD – The Yacht Club has definitely continued to create the next generation of yachtsmen and women and racers – particularly in the optimist division. We now have young sailors that are BusinessFocus May / June

competing globally and representing Saint Lucia, so it has fulfilled that purpose. It must be complimented for exposing the young Saint Lucians within the vicinity of Gros Islet and Castries to the skill of sailing.

We as a yachting destination must move towards engaging in a transfer of these skills from Taiwan so that we can one day not only be an exiting yachting destination buy also an island that can produce its own model of yachts.

I am looking forward to the day when its activities can extend to all the schools within the island and truly create a generation that is energized by the thought of engaging in regattas.

BF - The Boatyard has long been considered a canvas for the story of St Lucian entrepreneurship in the marine industry, how accurate is that and what can you personally attest to in this area?

BF – Japan has been a favourable player in the development of Saint Lucia’s marine industry for the past several years, investing in infrastructural development that has undoubtedly aided in the progress of the common man, how do you see that fitting with the overall agenda of

CD – The present Boatyard situated in Rodney Bay has seen the growth and maturity of unique service providers. However, in that area drastic improvement is needed.

Mar del Plata Nautical Club

Regatta

marine growth in Saint Lucia – not only for commercial, but for the grassroots levels that most of our coastline villagers have become accustomed? CD – It has done an excellent job so far and there is no reason for the input of the Japanese to stop. They have given us the expertise, knowledge and assistance in constructing well-placed fisheries locations along the coastline of Saint Lucia. That effort has struck a balance between the user conflict – yachts men and fishermen. And I hope moving forward Japan’s role and its presence continue so that we have the coexistence of aggressive fishers and yachtsmen on the same island. BF – Taiwan has grown considerably and continues to anchor itself in the global yachting arena, what are your thoughts on the country’s investments to date in the yachting industry? CD – Taiwan as a yacht builder is the model Saint Lucia needs to adopt. The Taiwanese have a unique propensity for building yachts and mega yachts that are efficient, sexy and affordable.

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While we have not been able to create a legacy with the ARC for repairs of yachts, we have definitely created an enabling environment where young skilled Saint Lucians are harnessing their craft and one day soon can be global players in the yacht repair business. BF – The Landings, with its exceptional facilities in being eyed as a yachting tourism success story in Saint Lucia with potential weighting throughout the Caribbean, where do you think that places the island as it looks to grow in the yachting industry going forward? CD – The Landings has positioned Saint Lucia as a favorable destination for not just villa/condo ownership, but one that offers waterfront access. It has created a product that has not only blended with the landscape of Reduit Beach, but has created that unique synergy between land based tourism and nautical tourism. Moving forward it is my dream that somewhere in the south of the island we can replicate that concept and further enhance Saint Lucia as a diverse yachting product.

BF – The Atlantic Rally for Cruisers (ARC) is certainly creating worldwide interest in St Lucia, how do you see this tying into the island’s potential of becoming the yachting haven of the Caribbean and potentially hosting scores of other regattas? CD – The ARC over the years has certainly defined our yachting product. But now we must allow this Rally to create unique spinoff events that would encourage longer stay and exciting regattas around Saint Lucia. It must be allowed to expand so that one day we can see a total of at least 300 yachts setting sail to Saint Lucia, moving forward as a Rally that ushers in not only our yachting season but a potentially

Yacht Club Argentino Mar del Plata

fun, energetic regatta that can infuse and encourage the participation of all yachts positioned in Saint Lucia during the time of the event. We should not be complacent while hosting this event. We must see it as the strategic next step in creating the opportunity for unique regattas. BF – Capella has undoubtedly redefined Marigot Bay, growing hand-in-hand with The Marina at Marigot Bay. Share with us your insight on this apparently perfect partnership in marine and luxury accommodation. CD – Capella is the visual of a natural progression that Saint Lucia faces with its yachting product. With the increase in boutique luxury hotels on the island, there must continue to be a unique mix and interconnection between marinas and boutique hotels. Capella has embraced this vision and will in time – due to its brand – create a unique marina experience that fits with the landscape, location and concept.

Drop Anchor and Escape

ST. Lucia Tourist board The island of Saint Lucia was made for seafaring – or perhaps it’s the other way around. The prevailing warm and soothing northeast trade winds provide ideal sailing conditions. Yet, it’s Saint Lucia’s breathtaking scenery that attracts the ﬁnest yachts from around the world. Drop anchor near the majestic peaks of Petit and Gros Piton. Rodney Bay invites a night on the town. Or choose Marigot Bay for a chic excursion. Must-see dive spots abound, and there are plenty of hidden bays where you’ll create your own Caribbean mystique. Of course, no getaway would be complete without exploring the luxurious side of Saint Lucia through its restaurants, shopping, and resorts. Immerse yourself in a luxe yachting adventure in simply beautiful Saint Lucia.

E-mail: information@stlucia.org Saint Lucia: 758 452 4094 www.stlucianow.com France: 33 1 45 32 0254 www.stlucianow.com

USA: 1800 456 3984 www.stlucianow.com UK: 44 207 341 7000 www.stlucianow.co.uk

Canada: 1800 869 0377 www.stlucianow.ca Germany: 49 6172 4994 138 www.jetzt-saintlucia.de

BusinessFocus May / June

Christopher Alexander Director Maritime Affairs

The Saint Lucia Closed Ship Registry The availability of a registration regime which formally provides nationality to a vessel wishing to travel aboard has long been a major concern to many vessel owners worldwide. The registry not only provides for a record of vessels under a nationâ&#x20AC;&#x2122;s Flag, but additionally facilitates safety, security and the safeguarding of the environment as prescribed by National and International obligations. In simple terms, registering a vessel allows it to travel internationally and regionally similar to a citizen of that country.

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Mr. Christopher Alexander has been employed with SLASPA from 2006 first as the Ship Surveyor and later the Director of Maritime, making him focal point on maritime related issues. He is responsible for the planning, organizing and directing of the activities of the Division of Maritime Affairs. Mr. Alexander is the holder of a Certificate in Public Administration, a Bachelor of Science in Management from the University of the West Indies, a Post Graduate Diploma in Maritime law, as well as been trained and certified in the areas of ISPS Code (Maritime Security), Boat Masters and Seamanship Instructor by the International Maritime Organisation (IMO).

Advantages of Registering a Vessel in Saint Lucia There are a number of advantages of registering a vessel in Saint Lucia’s Close Ship Registry. The principal advantage of registering a vessel in Saint Lucia is that it authorizes an individual or corporate entity to conduct commercial activity in Saint Lucia. If they do not meet the requirements of registration, they will not be authorized to charter or otherwise engage any Saint Lucian ship for local trade in Saint Lucian waters, except under, and in accordance with such conditions as the Minister may directly prescribe by legislation. Other advantages of registering a vessel in Saint Lucia include: •

What is a Closed Ship Registry? The Saint Lucia Air and Sea Ports Authority (SLASPA) through the Division of Maritime Affairs has implemented a closed ship registry which conforms to international standards based on the International Maritime Organisation (IMO). By way of definition a closed ship registry is one which allows only vessels owned by nationals of that country to be registered. In comparison an open ship registry is accessible to any shipowner regardless of nationality. The strategic objective of the Division of Maritime Affairs is to establish an Open Ship Registry which will expand the registration capacity on island.

Closed Ship Registration Requirements An individual or corporate body wishing to register a vessel with Saint Lucia’s closed ship registry must be eligible to do so by meeting one of the following criteria: 1. The individual must be a citizen of Saint Lucia; or 2. Any person who under the Immigration Act is deemed to belong to Saint Lucia; or 3. Any citizen of a CARICOM State residing in a member State of the Caribbean Community, where the ship is customarily engaged in international voyages; or 4. Any individual or corporation in a bona fide joint venture shipping enterprise relationships with citizens of Saint Lucia, as may be prescribed; or 5. A corporate body established under and subject to the laws of Saint Lucia and having its principal place of business in Saint Lucia; or 6. Such other persons as the Minister by order made by statutory instrument determine subject to negative resolution of the House of Assembly and the Senate. The registration of the vessel is either provisional or permanent. In either case, an application must be completed and submitted on a prescribed form which can be obtained from the office of the Division of Maritime Affairs or SLASPA’s website at www.slaspa.com.

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TITLE - Registration recognizes the ownership of vessels, similar to a person receiving a passport; NATIONAL IDENTITY - The vessel is provided with a unique name, the right to fly the Saint Lucian flag and is respected as a form of identification for international voyages; which affords them certain rights and privileges; TRANSACTIONS INFORMATION - When buying or selling a registered vessel, title information can be determined from the Ship’s Register; INSURANCE - Every Saint Lucian ship trading in any waters and every ship trading in or from Saint Lucian waters shall provide evidence of financial responsibility against risks of damage to third parties, in such a manner as may be prescribed; SEARCH AND RESCUE - The registration will also enhance the Search and Rescue services response time because of proper documentation of the vessel.

Economic Impact The Division of Maritime Affairs currently has three hundred and fifty (350) vessels on its registry, ranging from power boats to the larger catamarans. The department, with its in-house inspectors examines the vessels on an annual basis to ensure the highest safety standards are adhered to. These vessels facilitate thousands of visitors and nationals along the island’s coast and therefore, it is essential that they meet the established safety standards. Industry figures from four (4) of the larger boating companies on island indicates that approximately two hundred and twenty thousand (220,000) persons were transported in 2014. Furthermore, SLASPA through the Division of Maritime Affairs has also certified four hundred (400) Boat Masters who have undergone Seamanship Training to guarantee qualified and experienced crew are in-charge of these vessels and can ensure passenger safety. It is estimated that the sector employs approximately one thousand (1,000) crew members to facilitate the operations of the growing fleet. Consequently, the management of SLASPA encourages managers and owners of private and commercial vessels to register before proceeding on any voyage, and to ensure that the vessel carry the safety equipment appropriate to its length and construction. SLASPA urges eligible persons to visit the Division of Maritime Affairs at the former SLASPA’s Headquarters Building for further information or guidance on boating issues to maintain a safe boating environment. BusinessFocus May / June

Industrial Lands Coconut Bay Hotel Commercial Lands

Industrial Estate

Residential Lands

ATL Touristic Lands

Hewanorra International Airport Commercial Lands Vieux Fort Town

Proposed Marina & Commercial Development

Vieux Fort Sea Port

CARIBBEAN SEA

CALLS FOR EXPRESSIONS OF INTEREST PROPOSED MARINA DEVELOPMENT â&#x20AC;&#x201C; VIEUX-FORT Invest Saint Lucia is inviting expressions of interest for the development of a proposed Marina project for Vieux-Fort. The proposed marina site is situated along the south west coast of Saint Lucia, measures 23 acres (land for marina area inclusive of the queenâ&#x20AC;&#x2122;s chain) and forms part of a broader development plan for the southern region of Saint Lucia. The site is bordered to the north by the Hewanorra International Airport, to the south by the Caribbean Sea, to the west by the town of Vieux Fort and to the east by land owned by Invest Saint Lucia (ISL). The proposed site is well serviced by the West Coast highway at a distance of 4.4 km from the airport terminal and less than 2 km from the proposed private jet terminal.

BusinessFocus May / June

LANTIC OCEAN

Touristic Lands

Residential Lands

Project proposal is for a medium sized yacht marina in the town of Vieux Fort; hotel and retail development. Potential also exists on the identified and adjacent land for the following additional facilities: • • • • •

A Conference Centre An Exhibition Park Residential Housing Boatyard Marine Related Industrial and Commercial Development

This marina/hotel development project encapsulates the following facilities: • • • • • • • • •

Berthing for 220 yachts in the size range 10 – 190 metres LOA Electricity, water and fuel sales to marina customers and visiting vessels Onsite sewage pump-out and treatment A Boatyard area of 350,000 sq. ft. / 32,516 sq. m. providing storage for approximately 150 yachts A 250 room 5 star hotel with casino and adjacent beach and facilities Restaurant and Retail space Customs, Immigration, Ports and Marine Police facilities A Freeport environment to facilitate trade Ferry reception facility

The Concept Designer is seeking investment in the form of debt financing or equity participation.

For official concept note including preliminary cost estimates and ROI projections, as well as contact details for the concept designer, visit: http://www.investstlucia.com/resourcecentre BusinessFocus May / June

The Marine Industries Association of Saint Lucia An Industry Voice

The yachting industry has been the subject of repeated studies, policy forums and the like, all in an effort to create an institutional framework to ensure that its full potential as a significant economic driver is realized. The definitive study in St. Lucia’s case was the 2002 ECLAC one done by Mr. Cuthbert Didier, then of Rodney Bay Marina. One of the key recommendations was the establishment of a trade association to coordinate the various activities associated with creating a successful industry. BusinessFocus May / June

Though not generally well known, yachting contributes more to the South Florida economy than either cruise tourism or the citrus industry, which prompted a group of interested parties to look to South Florida as our model. Our Consul General in Miami, Mr. Kent Hippolyte, was able to arrange the first of many encounters with the Marine Industries Association of South Florida (MIASF), who became our mentors to help us establish what would in time become the Marine Industries Association of Saint Lucia, a non-profit Saint Lucian company in 2004.

advised successive governments on policy formulation covering yachting, most notably in the aftermath of 9/11, when certain policy proposals, particularly in respect of the Advanced Passenger Information System (APIS), threatened to adversely impact the sector. Sadly, most of the recommendations from the studies referred to have not been implemented; the institutional framework for regulating the sector is still not yachting specific – there is still no legal definition of a yacht, and terminology and regulations in force refer almost exclusively to commercial shipping!

Following our encounter with the MIASF, a discussion document entitled ‘Views on Establishing Saint Lucia as a Yachting Destination & Related Marine Affairs’ was presented to the Hon. Phillip J. Pierre and circulated to over 150 persons, government departments and business houses, the idea being to inform sections of the general public of the potential contribution of the yachting industry to the Saint Lucian economy. There followed the official launching of the MIASL, addressed by Hon. Phillip J. Pierre in Apr. 2004.

The MIASL membership continued to grow to a total of about 100, and comprises yachtsmen, business houses, government agencies (e.g. SLASPA), chandleries, day-boat charters, marinas etc. The executive comprises: Keats Compton - President; Eleanor Rae - Vice President; Rhory Mc Namara - Secretary; Bernard Johnson – Treasurer and Ian Cowan - Floor Member.

We made annual visits to the Fort Lauderdale Boat show, accompanying Ministers of Government, who were able to get a feel for that sector and the yachting industry. The MIASL has

The MIASL will continue to promote and protect the interests of the yachting industry to the best of its ability, and stands ready to collaborate with all interested parties, particularly governments, who are an essential partner, being the sole entity capable of creating the institutional framework essential to growing the sector.

Castries Being Readied for a Major Transformation Port Castries remains on a collision course with success following the Royal Caribbean International deal with the island some time ago that will see the transformation of the both the Castries Harbour and the city into one that could be considered among the leaders in the Southern Caribbean marine industry. Royal Caribbean is said to have committed US$20-US$25 million to the cause that will, in partnership with the Saint Lucia Air and Sea Ports Authority (SLASPA), result in a major upgrade in the Castries infrastructure in the long term– creating a more attractive scene for visitors and residents alike. This transformation exercise is approaching year five of its 15-year projected lifespan, with the initial commitment from Royal Caribbean taking place in 2011. Yachting berths, a boutique, hotel and more are included in the lavish upgrade plans.

The stretch of real estate between the vendor’s arcade and the old fire station building, all the way through to she five, is where the most considerable work is planned to take place. This area is said to be nearing a transformation exercise that will result in a vendors’ craft market, a waterfront pedestrian zone, a new ferry terminal, restaurants and a car park. The move is said to be one that will be funded almost entirely by private investment with little to no affect on Saint Lucia’s debt to GDP ratio. The plan is one that Business Focus understands is being implemented in a “responsible manner” having received the endorsement of the International Monetary Fund (IMF) and several corporate entities. Castries, despite its history and an impressive three and a half mile waterfront, does not play a considerable role in Saint Lucia’s tourism product. It is expected that following the upgrades, even in its phases, this potential will be amply realized. BusinessFocus May / June

Japan

Building Infrastructure for the Fishing Industry

Japan has for quite some time been in Saint Lucia’s corner helping the island with the development of its fishing industry, a commerce avenue that has been the bread and butter for generations of Saint Lucian families along the island’s cost.

in processing and distribution of marine products to the island.

Through the Japan International Cooperation Agency (JICA), Saint Lucia has benefitted from considerable financial and social aid making up a historic partnership, particularly in the fisheries industry.

Plans are afoot to even further expand the Japanese support presence with training that provide opportunities for the people of Saint Lucia to acquire technical knowledge and expertise in Japan. At least 10 trainees have been sent to Japan annually for the past several years.

This partnership dates back to 1994 when JICA inked an agreement with Saint Lucia to dispatch Japanese Overseas Cooperation Volunteers (JOCVs) to the island. The volunteers’ presence was realized from 1995 and over 100 of them have since worked in Saint Lucia assisting in the improvement of the industry. Eleven JOCVs are said to be working at present with the locals to further amplify more than just the marine industry. They are said to be providing further aid in areas such as social welfare, education, industrial diversification, and others. Japan’s grant aid has resulted in the construction of port facilities for fishing boats at various key locations around the island – a key infrastructural upgrade being fully utilized by large and smallscale operators. The Japanese have also loaned industry experts to Saint Lucia, who have aided BusinessFocus May / June

These experts and supply aid have been compounded by a development study conducted by the Japanese for the Caribbean fisheries industry.

According to Japan’s policy document for Saint Lucia, Japan’s assistance for the economic and social development of the island is expected to enhance bilateral relations and could also have positive effects on relationships with the other OECS countries that also receive similar support. Its priority areas going forward are noted to be heavily weighed on the fisheries industry. The policy document says Japan will continue to provide assistance for sustainable development and management of fisheries with a view to promoting sustainable use of marine living resources. It is also focused on matters of Environment and Disaster Risk Management Mitigation and adaptation

measures for natural disasters and measures for climate change – all of which are urgent issues for Saint Lucia considering its vulnerability to recurrent natural disasters, such as hurricanes and floods. In June 2014, the Governments of Japan and Saint Lucia signed a USD $1 million grant agreement that will assist in the procurement of industrial equipment and material for such occurrences. In April 2015, a three-man delegation from Japan headed by the Ambassador and special Envoy for the United Nations Affairs, His Excellency Ken Shimanouchi, held talks with Saint Lucia’s Fisheries Minister Hon. Moses Jn Baptiste, where the two reviewed the existing standing of the island’s fisheries development and fishing infrastructure. Discussions were held on key aspects of the cooperation, with the recent signing of an agreement between the two governments to upgrade five fishing facilities on the island taking center stage. Upgrades to the facilities will include the installation of storage and ice making devices and other general infrastructure improvements to the facilities. The communities of Micould, Laborie and Choiseul could be the first to receive these fishing infrastructural upgrades.

ARC

Creating Worldwide Interest in St Lucia - The Yachting Haven

The world-renowned annual Atlantic Rally for Cruisers (ARC) transatlantic event continues to create tremendous avenues for yachting advancement in Saint Lucia – its finishing point for over two decades, making it a favoured destination on the international yachting scene. ARC – organized by the World Cruising Club – is the single largest Trans Ocean race of its kind in the world, taking sailors on a 2700 miles nautical voyage across the Atlantic Ocean from the Canary Islands to the Caribbean on the trade wind route intended to give optimum exciting downwind sailing. The event regularly attracts more than 200 boats of many different shapes and sizes most of which find them in the stateof-the-art berths of either the hurricane holes of the IGY Rodney Bay Marina or The Marina at Marigot Bay. This is an important annual event for St. Lucia with the unwavering support of the St. Lucia Tourist Board, the government and private sector players – particularly those in the industry. Saint Lucia’s image and facilities have evolved almost equally since the first contract between the ARC and Rodney

Bay Marina was signed in 1990 through the efforts of Sir John Compton, Arch Marez and Cuthbert Didier in wresting this prestigious event away from Barbados. Several multi-year contracts have been signed since between ARC and Saint Lucia with 2015 being celebrated as the 25th hosting of the ARC by Saint Lucia. This also has allowed for considerable opportunities in both business and employment for islanders, some of whom have managed to secure franchise partnerships with key engine, oil and service partners from around the world – all with an interest in tapping into the vast potential gains to be derived from the ARC finish line. The island’s tourism product is by no means untouched by the ARC’s presence, having a series of activities in the northern Rodney Bay Marina and the SouthWestern Marigot Bay. Both locations have annual calendars of activities catering specifically to the hundreds of sailors who make their way around the world to the Helen of the West Indies.

On January 10, 2015, World ARC began its 2015-16 season from the IGY Rodney Bay Marina in Saint Lucia and will see the fleet of 22 vessels returning to the island in April of 2016, with stops at Marigot Bay and IGY Rodney Bay. This marked the fifth starting from the island. Like the ARC+ and the traditional ARC, the island, via the Saint Lucia Tourist Board, provides technical and logistical support towards the hosting of World ARC 201516. Saint Lucia’s Minister of Tourism Lorne Theophilus said the island as a destination was certainly privileged to not only be the finishing point, but critically the starting point of the World ARC yet again. He said it represents yet another endorsement of the island’s ability to not only host but manage events that boast strong international appeal.

Not so long ago, Saint Lucia graduated to becoming both the finish line and starting point for World ARC. BusinessFocus May / June

Taiwan

a World Class Yacht Manufacturer A Partnership with St Lucia Opens Mega Opportunities

The Taiwan Yacht Industry has been signalled as one of the most progressive and prosperous in the world, standing as the sixth largest manufacturer of mega yachts with a stunning 31 active yacht builders on the island. The total value of yachts being built in Taiwan today is estimated at approximately 204 million pounds sterling annually. Taiwan is currently on a mission to exceed its own expectations with the construction of even bigger yachts and the penetration of new and developing markets. According to a study compiled by Saint Lucia’s Maritime Consultant Cuthbert Didier, technology presently available to Taiwan yacht builders can realize the construction of yachts larger than 160 feet using materials like steel instead of the customary fiberglass. Didier lists seven Taiwanese companies currently involved in driving the industry there and propelling it around the world. With that in mind, efforts are underway to attract these companies and builders to the evolving yacht industry in Saint Lucia. “St. Lucia’s yachting sector is growing and St. Lucia is fast becoming recognized as a Mega Yacht Destination. Many of the yachts being built in Taiwan are sailing the waters of the Caribbean and St. Lucia in any one given year,” Didier said. He envisions that with the advent of Saint Lucia’s yacht registration system in the pipeline, the island is poised to benefit considerably from a strategic alliance with the Taiwanese in not only the construction but the registration and flagging of these mega yachts – further amplifying the island’s position in the industry. “With the current initiative by the Government of St. Lucia to establish a yacht registration desk, there is great opportunity for BusinessFocus May / June

these two Nations: (Taiwan and St. Lucia) to partner and develop a strategic alliance to further enhance and expand their yachting sectors,” Didier posited. It is believed that Yachting and Yacht services in St. Lucia and Taiwan can partner to explore considerable opportunities in creating a competitive advantage to highlight both destinations as unique in the Yachting world, giving the island a further competitive edge. According to the Yachting Ambassador, both counties currently share distinctions in two areas of the world yachting community, with Taiwan being a renowned yacht building nation and St. Lucia being recognized as an emerging mega yacht destination. The opportunities for St. Lucia in this regard, Didier says, are unique and far-reaching. He said the island can serve as a one-stop yacht purchasing and registration destination, where Taiwan will produce the finished products and Saint Lucia can provide reliable and secure yacht registration for the new owners. This, he opined, could be further amplified by discounted or free berthing of these yachts in St. Lucia, providing consistent presence of mega yachts in the island and increase economic potential for the industry as a whole. A yacht owners rally and Boat Builders Boat Show have also been cited as strong possibilities for Saint Lucia, showcasing all yacht brands built in Taiwan to potential buyers in the Americas but in a Saint Lucian showroom. Through years of effort, Taiwan has introduced the most advanced yacht designs, building materials and technologies to the industry. As the result of these innovations and training, Taiwan-built quality yachts have won the praises of the world’s yachting elite, with the country standing today as the world’s sixth largest yacht manufacturing nation.

Mercury Fun

Beach event – St. Lucia’s Next Big Thing?

It has been years since the introduction of the Mercury Fun Beach Event in Martinique but despite its overwhelming presence such a short distance away from us, it remains relatively unknown to most of our, well… youthful population. But the island did play host in 2014 and received an overwhelming first response. The event is one that looks to celebrate the Mercury Engine brand, distributed locally by Island Marine - which was selected in 2015 as one of the fastest growing Mercury franchises in the Caribbean and Latin America. But the vision here is the economic and social impact that the event brings to the shorelines of our cousins next door, and hopefully to Saint Lucia going forward. Scores of yachts, speedboats from both Martinique and Saint Lucia – all powered by Mercury engines – line the edges of the Pigeon Point beach littered with hundreds, and possibly thousands of people. It is by definition the fusion of sailing, speed, power and sheer fun. Just recently Tourism Minister – Lorne Theophilus praised the outcome of Saint Lucia’s first ever hosting of the event which saw more than 400 boats bringing over 3,500 French visitors to the island all blending in a rhythmic fusion with locals in an event that truly brings people and the marine sector together.

In a survey and study done for Mercury, this reflected an economic boost for the island with approximately EC$ 6m as a direct impact on the local economy in that one event in 2014, with all benefitting from the coconut vendor to upmarket hotels and all in-between. The Tourism Minister pointed out in the summer of 2014, shortly after the event’s hosting – that Mercury was one of those events that brings with it a “key component” of tourism and collaboration between the islands that allows for an exchange of visitors between the immediate borders. “We want to ensure that activities within this area are maximized,” Theophilus said, pledging the financial backing of the Saint Lucia Tourism Board (SLTB) for the event for its second year. Saint Lucia’s next hosting of this event, should that be in summer 2015, is one that should by all expectations outdo the 3,000 tourists it brought to the island last year. And the endorsement, marketing and potential financial backing of the Saint Lucia Tourist Board (SLTB) should certainly propel the event and Mercury to higher heights in Saint Luca and the Caribbean.

BusinessFocus May / June

The Landings A Yachting Tourism Success Story

Capella

Growing with Marigot Bay The combination of a luxury condominium beachfront resort with spacious designer suites, modern berth amenities, a 7,000 square foot signature spa and the genuine warmth of the St. Lucian people, leaves nothing to be desired. That is the true definition of the gem known as The Landings located at the north of the island and catering to the every whim of both the avid sailors and upscale travellers alike. At The Landings, the ocean is truly a playground. This exceptional development boasts one of the island’s most exclusive and modern berthing facilities, centrally located at the heart of the resort offering 17 slips and over 100 berths for yachts up to 62ft in length and providing not only scenic views for guests and sailors while sitting in their terrace. This all rests around a well-appointed resort development that also offers 231 appointed 1, 2, or 3 bedroom waterfront freehold residences, 3 swimming pools and two hot tubs, a specialty restaurant, spa, beach club, two flood-lit tennis courts and a fivestar concierge service, just incase. This exceptional combination of both land and water-based luxury has made a considerable dent in the arena of sail and stay-over travel in Saint Lucia and by extension the rest of the Caribbean. One might argue that The Landings could well have set a precedence in the Caribbean for what could be an increasingly popular trend for sailors, taking away the middle ground of having to leave their yachts in the docks while they find a hotel room. In this case, they can simply dock and check into their rooms or suites without ever losing sight of their treasured vessels. With the ever-increasing presence of Saint Lucia in the global yachting arena, the growth of this concept can only be seen as ground breaking and a potential treasure-trove for the island. BusinessFocus May / June

Capella Marigot Bay Resort and Marina continues to redefine the marriage between sea and land-based experience with luxury and choice of facilities that offer authentic Saint Lucian culture, cuisine and traditions blended seamlessly with outstanding service. The Capella Resort sits decisively in Marigot Bay – one of the most exclusive yachting ports in the Caribbean and commands quite rightly the attention of some of the world’s most stunning yachts, their sailors and celebrity figures. Both the hotel and marina have realized considerable growth over the past several years with its combined facilities of a premier berthing place, majestic natural island beauty and outstanding accommodation. Capella it self brings to sailors and land travelers world-class indoor and outdoor experiences with panoramic views of the Marigot Bay hurricane hole, embracing the community’s tropical greenery and uninterrupted bay views. It has 57 suites — many with private hot tubs — and 67 guest rooms featuring expansive balconies and breathtaking views of the bay. Residents of the community have reaped considerable gains since the development of The Marina and construction of Capella. The latter had in 2014 initiated plans to further amplify its initial operation since its rebranding from Discovery Hotel, to the more than 120 guest rooms and suites present today. It had also installed then a rooftop restaurant and Rum Cave that features an assortment of local rums in a “warm, relaxed cavelike space.”

The Yacht Agent of the Caribbean

Most of Capella’s activity offerings to guests are interlinked with community culture and are lead by strong communityborn personalities. Among these are a host of Capella signature activities that take place within the Bay and around the immediate community. It also offers cruises and sailing lead by avid community sailors, golfing, hiking, island adventures, swimming and beach excursions and a list of children targeted activities.

Ben's Yacht Services Is The Number One Yachting Agent In St Lucia and The Caribbean We Offer Full Shore Side Services For All Super & Mega Yachts We offer an Elite Airport and Taxi Service with High End Vehicles. Our Deluxe Executive Lexus Sedan, BMW X5. The Toyota Surf 4 Runner and our Luxury 12 Seater Buses. Ben’s Yacht Services Give You An All In One Exclusive Service. There Is Nothing That We Cannot Assist You With At Ben’s Yacht Services.

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BusinessFocus May / June

Caribbean Maritime Security A Growing Concern By David Jessop

The maritime security of the Caribbean is an issue not often written about. This is despite the fact that every nation is touched by the sea, has an exclusive maritime economic zone stretching for 200 nautical miles beyond its shores, and undersea resources that it needs to defend. There is also a continuing battle to interdict the endless flow of narcotics from producer nations in Latin America through the Caribbean to consumers in North America and Europe, a constant flood of economic refugees mainly from Haiti, the policing of fisheries and offshore platforms, and concerns relating to ever-larger cruise ships in the event of an emergency. At the same time, the enlarge-ment of the Panama Canal, the development of ports with manufacturing zones like Mariel in Cuba or Caucedo in the Dominican Republic, or Jamaica’s plans to become a logistics hub, and the consequential role in global trade the region hopes to play will all make unimpeded sea lanes of greater importance to nations far beyond the region. Despite this, few nations in the region have the resources to act beyond their immediate territorial waters, let alone police the huge area of sea beyond. For this reason, every government in the region should be concerned by the recent testimony and subsequent press briefing given by General John Kelly, the commander in charge of US Southern Command. Speaking to the Senate Armed Services Committee on March 19, General Kelly described the threats and the growing operational constraints that the US and its allies now face in helping underwrite the region’s maritime security.

CHANGED LANDSCAPE In doing so, he painted a picture of a changed Latin American and Caribbean strategic landscape in which new state players, more sophisticated narcotics traffickers, and possibly in time even terrorists may come to operate. BusinessFocus May / June

In his testimony, he made clear that reduced US funding meant that the last two naval vessels the US had previously deployed in the Caribbean will both be permanently withdrawn in the summer of 2015. He noted, too, that his command had insufficient airborne intelligence, surveillance and reconnaissance assets available to cover the area, and that the NATO allies with which the US normally work also had a severely diminished presence in the Caribbean. This meant, General Kelly told the Senate committee, that the US would eventually have to rely on a small number of US coastguard cutters - due to increase from three to six over time - on a Canadian frigate on station in the Caribbean that comes under his command for about six months out of the year; a ship “the British occasionally have Ö down there”; the “very cooperative” Dutch who have few ships in the region; and the French with ships out of Martinique. This means, he said: “When they’re working together with us, they plug into our system and we work them very hard.” The general also pointed out that the US coastguard was additionally engaged in other missions including having to pay constant attention to illegal migration in the Florida straits. While General Kelly was no doubt in part trying to make a case for political backing for more resources - the apparent low level of Senatorial interest implies that he may not have succeeded his remarks suggest that the US may find it increasingly difficult to deliver the level of Caribbean regional maritime coverage that the Caribbean might desire. His testimony would also seem to raise questions about the United States’ ability to support the first pillar of the 2010 Caribbean Basin Security Initiative which is to substantially reduce illicit trafficking in narcotics and arms through the region. Moreover, it would also seem to suggest that the relatively new and successful approach to coordinated at-sea narcotics interdiction in the Caribbean may suffer, and that there may be

a weakening of some aspects of maritime cooperation with the Regional Security Service, Caribbean coastguard services, and other Caribbean agencies. In his testimony, and more directly at his press conference, the General painted a disturbing picture of what may now be happening in the Caribbean Basin. His report noted that Southern Command was troubled by the operational and financial overlap between criminal and terrorist networks in the region.

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Illicit trafficking in narcotics, arms and people now generated more than US$650 billion, it said, a sum larger than the GDP of all but 20 countries in the world, with only one per cent of such flows being seized or frozen. At his press conference, he spoke frankly about the extremists actively involved in radicalising some young Caribbean people and the dangers posed if they returned from conflicts in Syria and other parts of the Middle East and Africa, suggesting specifically that this number included nationals of Trinidad, Jamaica, Suriname, and to a lesser extent Venezuela - all countries, as he put it, where there is little capacity to track radicalised and potentially dangerous returnees.

CONTINUED ENGAGEMENT General Kelly also spoke about the way in which his command sees an increased Chinese and Russian presence in the region, noting that Chinese engagement with the region’s military, while not a threat, underscored the importance of continued US engagement to maintain security partnerships. In the case of an increased Russian presence in the broader Latin American and Caribbean region - a naval and air presence, military arms sales, counternarcotics trafficking operations, and resupply bases in Nicaragua, Venezuela and Cuba - he suggested that as a part of a wider global strategy, this was at present more of a ‘nuisance’ rather than a threat.

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His detailed testimony, which can be seen in full on Southern Command’s website, is worthy of greater consideration. Although it pictures the Caribbean Basin from a US military perspective, it raises important questions about how the nations of the Caribbean intend to address such issues as the Caribbean Sea again becomes a location of greater global strategic importance. The last 20 years have been marked by the gradual withdrawal of those countries traditionally regarded as being close to the region. This began at the end of the Cold War and accelerated as a result of swingeing budgetary cuts following the 2007-2008 global financial crisis, causing nations that once had a physical defence presence to all but withdraw.

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The consequence is, as General Kelly now implies, a growing problem in ensuring collective maritime security in the Caribbean Basin, and a potential vacuum that others with criminal or political intent may seek to exploit. David Jessop is a consultant to the Caribbean Council. david. jessop@caribbean-council.org

Rodney Bay Marina • St. Lucia soterdidier@gmail.com 1.758.486.0718 BusinessFocus May / June

Beyond the Pitons: Can nautical tourism help diversify our tourism product. By Michelle Stephens

St Lucia stands out amongst its sister islands as the honeymoon capital of the Caribbean. It boasts of having won several destination and property awards, celebrates the popularity of its annual jazz music festival and glows in the natural beauty of the Piton Mountains – a UNESCO world heritage site. In 2014, the tourism sector contributed approximately 14% to GDP (World Travel and Tourism Council) and sustained its buoyance with a 6% and 8% increase respectively over 2013 in stop-over (338,158) and cruise passenger (641,452) arrivals. Encouraged by this growth, the St Lucia Tourist Board (SLTB), announced plans to implement an aggressive marketing campaign targeted at the enterprising yet nostalgic St Lucian diaspora and wider Caribbean islands, once stable source markets. Alongside the refocused marketing thrust is the recent inclusion of yachting within the overall tourism product portfolio. According to officials at the SLTB, “Impressive gains are also expected within the yachting sector.” Sighting data up to November 2014, they indicate that a 17% increase over 2013 in yacht arrivals was achieved due to deliberate state interventions in passing new yachting legislation and to the island’s association with the Mercury sailing event, the Atlantic Rally for Cruisers – ARC and Russian regatta. But is the current strategy maximising the full potential of our entire coastal and maritime resources to create jobs and foster sustainable economic development or is a more holistic approach needed? Globally yachting tourism is seen as a subBusinessFocus May / June

sector of a broader coastal and marine tourism sector. The costal and marine tourism sector or nautical tourism as it is called in Europe and Central America focuses on tourism associated with waterbased recreational and entertainment activities such as boating, yachting, cruising, water sports and all other activities for which proximity to the ocean or other bodies of water is a criteria. Its foundation is a sustainable outlook that respects the ocean or other bodies of water and their surrounding eco-system. It also includes land-based facilities that deliver services (repairs, maintenance, interior design, fabrication, storage, waste disposal, provisioning, housing, banking etc) necessary to sustain the sector. Despite St Lucia’s active participation in the OECS Sail Clear initiative that aims to streamline customs processing for yacht and other boat arrivals, what we have not seen is an integrated nautical destination strategy that actively seeks to develop an enabling environment for growing and sustaining the sector beyond yachting. Nautical tourism is one of the most profitable tourism segments globally. It is suggested that the return on investment in nautical tourism is up to two times faster than in other branches of tourism, since it attracts a higher-end and financially stable tourist. For St Lucia to capitalise on this sector, it must develop a clear nautical destination strategy and invest strategically for the longer-term attractiveness and quality of our coastal assets. We must ensure that environmental standards such as the Blue Flag Programme is introduced;

maritime and coastal management skills are developed amongst locals; marina and other coastal projects are planned with water cities integrated into the development. Our sister islands are already pursuing their own version of a nautical destination strategy even if it is not referred to as such; Grenada recently started promoting its underwater sculpture park and Carriacou reef alongside its Sailing Festival; Barbados markets paddle boarding and surfing on their beaches, the Atlantis submarine tours and south coast boardwalk as must do’s while visiting; Trinidad and Tobago is redeveloping its west coast peninsula into a water sport and family recreation location while St Kitts is developing the Marina at Christophe Harbour offering super yacht capacity berth ownership that offers the option of participating in its Citizenship by Investment programme. St Lucia possesses the coastal and maritime assets; what is needed now is imagination, investment and implementation. ABOUT THE AUTHOR: Michelle Stephens is a business strategy consultant with over 15 years’ experience in the field of strategic planning, marketing and business development, having advised several regional public and private sector businesses on strategic and marketing strategies. This article is for general information purposes only and does not constitute legal advice. Follow on Twitter: MichelleStephens@Michst22

We are pleased to deliver the best marine and industrial services for Diesel engines and Generators

The Smart Growth of Marintek was established in 2004 through the vision of the late Arch Marez, who encouraged Egbert Charles, a marine technician to set up a business to install and service electrical and electronic equipment on boats. Marintek initially started as a provider of marine electronics and now offers assistance in diesel power, marine generators and water desalination. Now in its 11th year, the business has expanded considerably and currently handles everything related to the energy, electronics and mechanicals for the marine industry. Egbert Charles, a true sailor at heart, transpired his love for engines and machines by becoming the Head of Engineering at the IGY Marina and later on gained considerable knowledge with training in Tortola, USA, Sweden and France. He is an experienced captain, who crossed the Atlantic several times, participated in sailing races such as the Antigua Sailing Week and speaks Spanish, French and Creole fluently. His growing concern is the lack of trained personnel and the need to invest in the training of young individuals. Marintek St. Lucia invests in education by donating up-to-date diesel boat engines to Sir Arthur Lewis Community College. It provides opportunity for students to work on engines that are used by the marine industry. Marintek services major hotels and a number of other local and international prestigious clients. The Company services land based generators and supports the yachting industry. It works factory-direct for the brands Volvo Penta, SDMO, Dessalator and Northern Lights. Marintek St Lucia is optimistic about the future and Egbert believes that his venture is a work-in-progress. Their current focus is on building a workshop to provide adequate training facilities for their employees. Charles firmly believes that training is the only way to go and the perfect means to enhance their experience, gain new clientele and to meet the everincreasing demands of the future.

ENGINES: DI-30 - D3-180 The new D Series sailboat engines from 12 to 180HP are for sailors.

We proudly represent:

Rodney Bay, Gros-Islet, P.O. Box GM550, St. Lucia, W.I Tel: 450-0552 Fax: 450-0717 â&#x20AC;˘ Email:mdservice.lc@gmail.com www.marintekstlucia.biz

BusinessFocus May May//June June | | 55 51 BusinessFocus

Island Marine Supplies Inc

Story The roots of Island Marine date back over 10 years, but the story starts when CEO Pinkley Francis decided to turn his lifelong passion into what would become one of the island’s largest marine engine retailers. It was the start of thousands of advancing memories all centered on the water. He told Business Focus Saint Lucia that in 2004 he decided almost overnight to explore the option of bringing this passion for boating and the open waters to Saint Lucia, and possibly adding its vast potential for growth in the Caribbean marine industry. After extensive research, Francis focused his attention on a possible partnership with the manufactures of Mercury Marine® Outboard Motor Engines and following relatively brief talks he secured a meeting in Miami, Florida that would craft the next ten years of his life. When he returned to Saint Lucia he was armed with the Mercury Marine® franchise and brought that into a market that was previously dominated by rivals Yamaha, which then controlled a stunning 99 percent of the local commercial boating market. Francis had long decided that the local boating industry was in need of change and was determined to be the catalyst for that change by uniting a quality product and maximizing efficiency of operations while at the same time sharing global best practices

BusinessFocus May / June

on everything product and performance to after sale service provided by trained local tradesmen. Today Island Marine consists of a small in-house team of no more than 8 people all focused on what Francis says is most important: getting customers out on the water. “We have been proudly doing so for over 10 years,” he said while clutching the company’s most outstanding award to date – the Mercury Marine Latin America & Caribbean 2014 award for the Highest Market Share Growth in the Caribbean, Latin America & the Caribbean in February 2015. This feat, Francis credits entirely to the Island Marine team for their endorsement to the company’s vision and their commitment to the sustained growth of the operation. Overall Island Marine has managed to take hold of 20 percent of the marine commercial/fishing industry in Saint Lucia – taking 19 percent away from its Yamaha distributing competitors. But where the really astonishing accomplishments stand, is the company’s ability to secure a magnificent 80 percent of the luxury, pleasure boats and charter end of the local industry. Francis admits that he has not aggressively gone after the commercial end of the marine industry simply because the

ability to provide adequate after-sale service is as important to him as the market share he controls. He professes to have adopted the Mercury Marine® method of business, service and growth with a long history of firsts and foremosts, constant improvements and the catalysts for the elevation of global standards that demand reliable, trouble-free performance, superior power and torque, low emission, and low fuel consumption. Mercury Marine® has been making world-class outboards and sterndrives for more than 75 years, beginning its operations in 1939 in a small machine shop in Wisconsin, USA. It has since grown into the largest builder of marine propulsion systems in the world. It is unquestionably number one on the water. Island Marine has joined Mercury Marine® in providing boaters with more ways to propel their specific boats, activities, and pursuits reliably, comfortably, and efficiently across the water. “We do not need 100 percent of the market. We want to continue to marry growth with capacity,” Francis said, adding that training and certification is a key factor in the company’s operations. The company has taken its principle of training and development and understanding of the industry to a level beyond its small

permanent staff and vast team of outsourced talent by joining hands with the Sir Arthur Lewis Community College in awarding internships to scores of potential industry players. Pinkley Francis believes the marine industry in Saint Lucia is on the cusp of its greatest expansion period yet and he has positioned himself and all those under his influence in a state of readiness to capitalize both economically and professionally on this growth. “We are focusing not only on local boats but we have positioned ourselves in a manner that would instill confidence in the international boating community in our ability to sustain this growth. This is what would assure our economic gains,” Francis said. He added, “Boating is a lifestyle and we need to get more people, more locals involved. Government and other stakeholders must play their part because some of our immediate neighbouring islands have already propelled themselves ahead of us and we need to catch up quickly or we will continue to lose greatly.” Francis believes this change and propulsion in the right direction is not too far off with an ever increasing number of locals getting involved.

BusinessFocus May / June

Complete Marine Services Ltd started life in 2004 as a shallow-water, barge and crane business. Both the original pieces of equipment were ancient but serviceable and the business successfully met the needs for all kinds of minor marine works: repairing and maintaining mooring buoys, navigation lights and shallow-water pipelines and piling small docks and jetties. CMS gradually built up a loyal customer base among the local hotels, marinas and private boat owners. The company was acquired in late 2008 by its present owners and Sam Verity, the new Managing Director soon recognised that in order to grow this small, but successful, business with its local niche market, he should diversify and invest in new equipment. Until that point, bigger marine piling and construction projects in St Lucia had often been carried out by larger, higher-tech companies from other islands. Sam’s view was that larger St Lucian projects could be undertaken by a local company employing a local team by investing in new equipment which would stay on island, avoiding the need to bring in barges and equipment from overseas each time a big new development was planned. CMS started its growth programme by diversifying into onshore piling: the first major project was piling the foundations of a new generator shed for LUCELEC at Cul de Sac, which was completed successfully in early 2012. The next major project was to pile the foundations of the new Koi Resort in St Kitts, quickly

followed by the I Hotel at Cas-en-bas. Most recently, CMS has been piling the foundations for the new DiveSaintLucia Centre and the adjacent Harbour Club Hotel at the southern end of Rodney Bay Marina – including sheet piling the land/ sea interface, building walkways and installing boat-lifts for the brand new Newton 46 Dive vessels. The original barge, known as the “Piton Piler”, is still working there - after a major re-build of both barge and crane – and a bright new paint job..! CMS is now one of St Lucia’s fastest growing small companies, steadily and consistently increasing turnover year by year. CMS’s success has been based on identifying new construction materials which can be imported and installed much more cheaply than conventional materials. Examples are Ductile Iron Piles (DIP) manufactured in Europe but imported in containers and driven with a high frequency impact hammer using the hydraulics of a large excavator – vastly cheaper than importing reinforced concrete piles and driving them with a diesel drop hammer. DIP – with equal load-bearing characteristics - have been used on all CMS’s onshore piling projects, creating substantial savings for clients and a lower environmental impact. Other examples are corrosion-free vinyl sheet piles for waterways and vinyl SheerScape piles for innovative, low cost retaining wall construction. Although CMS is no longer strictly a marine construction and engineering

business, it is still the most experienced marine engineering company in St Lucia, building jetties, designing and installing boat lifts as well as taking on some highly innovative construction work such as the access facilities at Dennery Island for the Durrell Wildlife Conservation Trust. Right now, a diverse range of marine projects are in process, for hotels requiring repairs and extensions to their waterfront facilities, including breakwaters, sand recovery and, in some cases, beach restoration. And maintenance is a big issue, not just for large scale resorts but also for many private owners of waterfront properties where CMS is experienced in the installation of corrosion-proof vinyl sheet piling to protect property as well as docks, boat-lifts and walkways. CMS’s plan is to continue to take on both large and smaller scale projects that fall within the company’s key areas of expertise. Most recently, CMS was proud to be awarded the contract by the Ministry of Agriculture & Fisheries to build the long-awaited new fishing docks at Praslin Bay and Savannes Bay in the south-east of the island. Work on these docks is due to start on April 27th and the contract means a great deal to CMS which is St Lucian owned and employs a St Lucian work force. According to Sam, a St Lucian citizen who lives with his family in Marigot, taking responsibility for community projects will always be one of the company’s core values.

BusinessFocus May / June

For over 50 years Yamaha Motor Corporation has endeavoured to create diverse value through it’s products and services. Yamaha’s philosophy of creating value that surpasses customer expectations while offering a more fulfilling life for people all over the world and fulfillng social responsilbilitues globally. Yamaha’s corporate mission of being a “Kando* Creating Company” is an expression of its desire to offer customers around the world products and services that bring joy and unexpected exhilaration, the kind that enriches their lives with new fulfillment. To realize this mission, the Company continues to excel in engineering, manufacturing and marketing and ensuring a prominent presence in the global market. The aim is to ensure that products meet the needs of the market and the customers which they provide value. Yamaha’s philosophy of creating value and its corporate mission of being a Kando* creating company has been fully embraced by its authorised distributor in St. Lucia. KP Marine (St.Lucia) BusinessFocus May / June

Ltd was officially incorporated in 2012 and since then has been totally committed to maintaining the high standards of the Yamaha Motor Corporation. KP Marine offers a range of products; Outboard Motors, All Terrain Vehicles (ATV’s), boats, motorcycles, spare parts and accessories. With qualified and trained technicians we ensure servicing and maintenance of all products sold. The Company operates a 3-S store (sales, service and spare parts) at its Edgewater location in Gros Islet and a retail outlet at the Goodwill Fishermens Cooperative in Vieux Fort. Our products can also be obtained from our dealer Laborie Fishermens Cooperative. KP Marine is committed to ensuring the provision of dependable, reliable and affordable products are made available to the market. Our level of service exceeds customer expectations. The

Company has several initiatives planned for the year 2015-2016 that will ensure that we not only continue to penetrate the market and be a leader but that we educate and provide our customers with products and services that will enhance their lives. •

Kando is a Japanese word for the simultaneous feeling of deep satisfaction and intense excitement that people experience when they encounter something of exceptional value. Retail Store – Edgewater, Gros-Islet: (758) 450-5564 Service & repair Centre – Edgewater, Gros-Islet: (758) 450-5565 Goodwill Fishermen Co-operative, Vieux-fort: (758) 454-5568 Laborie Fishermans Co-operative: (758) 4559930 AUTHORIZED DISTRIBUTOR Dependability…. It’s what powers us!

Outboard Motors Genuine Spare Parts Fibreglass Boats Fishing Tackle Jet Skis ATV’s & Motorcycles Fibreglass Mat & Resin

BusinessFocus May / June

elcome to St. Lucia’s West Coast – an area of outstanding beauty and diversity, and the location of the Soufriere Marine Management Area (SMMA). In this region you will find superb scenery, healthy and diverse coral reefs, valuable fish stocks and attractive beaches extending all the way from Anse Jambon to Anse l’Ivrogne.

Unfortunately, in recent years, these marine and coastal areas have been under increasing pressure from competing human activities. In response to these threats, local fishermen, hoteliers, divers, yacht operators, government agencies, and community groups came together and negotiated an agreement which resulted in the formation of the Soufriere Marine Management Area in 1994. Parties to the agreement believe that, with harmonious management and development, all economic activities can prosper without damaging the area’s resources, now and in the future. Get involved! Your support, contributions and ideas help us protect our valuable resources.

What do we do? The SMMA concerns itself with a range of activities that include: • Scientific research on the natural resources of the region • Regular monitoring of coral reefs, water quality and other • environmental factors and resources • Public information and sensitization • Provision of facilities for users of the SMMA, e.g. moorings • Coordination of economic activities related to the SMMA and its resources • Promotion of technologies that are appropriate and linked with local • environmental, social and cultural aspects of the SMMA • Surveillance and enforcement of rules and regulations • Conflict resolution among the various user groups whenever necessary • Maintainance of the principles of ongoing participation and public consultation

What part can you play in helping us conserve and sustainably manage our valuable marine and coastal resources? • •

•

• •

•

Avoid touching the corals and other marine life when swimming, snorkeling, or scuba diving. Even the lightest touch of a fin or a camera, or sand stirred up from the bottom, can cause damage Leave all plants, animals, fish, and shells in the sea, whether they are living or not. An empty shell can soon be home to a crab or small fish Observe the fish while snorkeling or scuba diving, but don’t feed them. Feeding destroys their natural feeding habits Avoid disturbing mangroves or seagrass beds. They are critical parts of the marine environment Stay at least 100 meters from a blue and

BusinessFocus May / June

•

• • • •

white Alpha flag, or a red and white diver’s flag on a float or a boat in the water Look out for swimmers, snorkelers, and SCUBA divers when boating Tie up only to mooring buoys or anchor in designated sandy areas so that your anchor does not damage marine life Do not collect or buy coral jewelry or other coral products. It is illegal to sell, take, buy, or possess corals in St. Lucia Do not buy jewelry or other products made of turtle shells. A moratorium on the capture and sale of turtles and their products was declared in St. Lucia on March 1st, 1996 Limit your use of plastic and styrofoam containers Dispose all wastes properly whether on land or at sea Tell others about the SMMA and set an example of proper behavior Join the Friends of the SMMA. Make a contribution today!

Learn a little about our zones … The uniqueness of the SMMA lies in its effort to sustainably manage the use of marine resources in the area, while providing equitable sharing of resources to stakeholders. In order to do this, the coastal area has been divided into a number of zones.

For more information please contact: The Soufriere Marine Management Area P.O. Box 305, Bay Street, Soufrière, St. Lucia, West Indies Phone: (758) 459-5500 Fax: (758) 459-7799 E-mail: smma@candw.lc Internet Web-Site: http//www.smma.org.lc Marine VHF Radio Channel 16

BusinessFocus May / June

Dedicated Contractors of IGY Marina Boatyard

A Growing Community of Professional Service Providers

Mermaid Repairs

KBC Marine Services

ARC Dynamic Workshop

Is owned by Elvis Michaud who is the go-to man if anything goes awry on your boat. His workshop attends to boat repairs outside of the Marina as well. He is an Awlgrip specialist with extensive knowledge on fibreglass repairs, engine maintenance and other advanced composites and puts his expertise to use when he approaches repairs. His work reflects the island style and his professionalism ensures him returning clients. For all repairing and maintenance needs for your boat, Elvis is always at your beck and call.

KBC Marine Services was established three years ago by Kelly Charles who has been in the industry for some 14 years. He provides tough competition due to his experience and workability with fiberglass finishing and Awlgrip painting. His area of skill mainly includes mirror finish painting, varnishing and finish fiberglassing.

Lawrence Lim-Chee Yung aka â&#x20AC;&#x2DC;China Manâ&#x20AC;&#x2122; has been known for performing metal work on local boats. He has been in the welding business for about 20 years and can pretty much work with any metal that doesnâ&#x20AC;&#x2122;t burn. His workshop contains several tools, machinery, raw materials and other boat parts and also includes mills, laths and the welding equipment for the various metals. He is quite popular for his work in welding big storage stands and boat trailers for small brackets and fittings.

Fibre Lab

Richard Cox

Milton McKensie

Is owned by Andrew Renau who has been in this business for 20 years and the workshop was opened five years ago to cater to spray-painting, boat repairs and all kinds of maintenance on boats. They also service maintenance the needs of boats anywhere on the island.

Richard is the workman at the Marina and has rendered several years of service. He mainly deals with the refurbishing of boats and fibreglass repairs.

Milton McKensie is the new Boatyard Supervisor at the IGY Marina and has been in this position for the past five months. He says that the Marina offers top-class facilities to the yachters and is a great place to work.

BusinessFocus May / June

A way of life, a range of Taste! Modern ways, Traditional flavours!

Chicken Tikka Massala INGREDIENTS 2 Tbsp. Baron Tikka Masala Paste 2 Tbsp. vegetable oil 1 Medium onion, chopped 1 lb Chicken 2 Fresh Tomatoes diced 2 Tbsp. Cream (optional) INSTRUCTIONS Heat the oil in a large frying pan. SautĂŠ the onions until translucent. Add the chicken and cook until slightly browned. Add 2 table spoons Baron Tikka Massala and stir into the meat with the diced tomatoes. Bring to a boil, cover and simmer for 15 minutes until chicken is cooked through. Stir in the cream just before serving. Serve over rice.

BARON FOODS LIMITED, St. Judes Highway, Vieux Fort Industrial Estate Vieux Fort, St. Lucia, LC BusinessFocus May / June Tel: (758) 454 9230, Fax: (758) 454 9231, www.baronfoodsltd.com

BusinessFocus May / June

MUST READS

Volume 11

By: Lyndell Halliday

The Evolution of Steve Jobs

by Lyndell A. Halliday BSc., MBA, CMA

This issue of Business Focus Must Reads focuses on a single book - the newly published biography on Steve Jobs entitled: Becoming Steve Jobs: How a Reckless Upstart became a Legendary Leader by Brent Schlender and Rick Tetzeli (Sceptre – April, 2015). The importance of Steve Jobs’ role in history cannot be overstated. He was an unparalleled business leader and entrepreneur who revolutionized five different industries: personal computing (Apple and iMac), animation (Pixar), music (iPod and iTunes), mobile phone (iPhone) and mobile computing (iPad). Readers may recall that an early edition of Must Reads reviewed and recommended Walter Isaacson’s 2011 exclusive authorised biography Steve Jobs. In spite of the status of Isaacson’s Steve Jobs as the definitive biography on Steve Jobs and its rise to become a major bestseller in the business and biography genre, Schlender and Tetzeli believe that Isaacson did Steve Jobs an enormous injustice. According to Schlender and Tetzeli, Issacson and other published works on Jobs presented “onedimensional myths” and Schlender and Tetzeli were determined to set the record straight. Becoming Steve Jobs was thus written largely in response to Issacson and endeavours to offer a more balanced and nuanced view of the legendary entrepreneur and business leader. Becoming Steve Jobs: How a Reckless Upstart became a Legendary Leader by Brent Schlender and Rick Tetzeli The principal author, Brent Schlender is a journalist who has written extensively for the Wall Street Journal and Fortune magazine. He covered Steve Jobs for over 25 years. Rick Tetzelie is the executive director of Fast Company magazine and though he co-wrote the book with Schlender, Becoming Steve Jobs is written mostly in Schlender’s voice. Unlike Isaacson’s Steve Jobs, Schlender and Tetzeli’s Becoming Steve Jobs is not an BusinessFocus May / June

authorised biography but the authors were nonetheless able to compile a detailed and enlightening account of Job’s life - gathered from Schlender’s extensive 25 year interaction with Steve Jobs and some three years of subsequent in-depth research by the two authors.

There are two major themes in this biography. The first major theme is the attempt to set the record straight. A large part of the Schlender and Tetzeli’s criticism of Issacson is that he helped to perpetuate a caricature of Steve Jobs as a “tyrant savant ... with no friends, no patience, and no morals”. Schlender strongly felt he had seen a lot more depth to Steve Jobs throughout his years of interaction with him other than what was depicted by Isaacson. Schlender unveils new details of Job’s life in order to convey a softer side of Jobs. For example, Schlender claimed that Tim Cook ( the current CEO of Apple) offered to donate part of his liver to Jobs as he lay dying of cancer, but Jobs adamantly refused to consider the offer. According to Schlender, if Jobs has been so mean to everyone as widely believed, why would Cook have made that offer and if Jobs had been so selfish, why would he have declined. Schlender integrates several other anecdotes in his attempt to build the picture of the more humane side of Jobs. Yet, it is not clear that Schlender succeeds in his effort to present an alternative narrative to Issacson. Even in Issacson’s biography, there is sufficient evidence of Job’s multiple dimensions. A discerning reader of Issacson would likely have appreciated that Job was a complex individual who like any other human

had his own distinctive flaws as well as strengths. And Schlender’s account largely validates Issacson’s depiction of Job’s deep character flaws. The second major theme of Becoming Steve Jobs and the one that Schlender does manage to execute brilliantly is to tell the story of how Steve Jobs grew and evolved over the years, transforming from a shattering failure to the brilliant visionary that eventually led Apple to become the most valuable company in the world. Schlender witnessed firsthand the development of Steve Jobs over the years as he learnt to maximise his strengths and to temper, though not totally overcome his infamous weaknesses. Schlender shows how Job’s firing from Apple in 1985 and the years he spent running NeXT computer and Pixar were critical in the development of Jobs as a leader and paved the way for Job’s 1996 return to Apple and the hugely productive and tremendously innovative years that followed that return. Schlender writes that “I can’t think of a businessman who grew and changed and matured more that Steve.” Becoming Steve Jobs adds substantial insight into this extraordinary figure. In particular it tells a compelling story of redemption and of triumph over failure, and it is an inspiring treatise of leadership growth and development. Schlender and Tetzeli’s Becoming Steve Jobs complements Isaacson’s Steve Jobs and the reader is encouraged to read and compare both biographies as they offer significant, unique but somewhat contrasting insight into one of the greatest business icons of all times.

Lyndell Halliday is a business executive who has served in a range of leadership roles across the Caribbean. He is currently employed as the General Manager of Automotive Art (St Lucia) Ltd. Mr Halliday is also a part time facilitator at the National Research and Development Foundation where he teaches Leadership, Strategic Operations Issues and Business Ethics and Social Responsibility for the Australia Institute of Business MBA and BBA programmes.

6 Annual St. Lucia Business Awards! th

Its Bay Gardens for a Second Time

BusinessFocus May / June

Learning & Growth Is a focal point of our operations. We train on the job, in class, online and at every opportunity. It's a win win for our team and demonstrates our commitment to Service Excellence.

Consolidated Foods Ltd: Winner of the 2014 Business Award for Excellence in Human Resource Development BusinessFocus May / June

Winners Emerge at the 6th Annual St. Lucia Business Awards!! The St. Lucia Chamber of Commerce hosted another evening of excellence on Saturday March 14th, 2015 at Sandals Grande St. Lucian Spa & Beach Resort, with the event again broadcasted live on Choice TV and www.choice39.tv powered by LIME and by WVent Radio 93.5/94.7. From the LIME Red Carpet which started at 7:00 p.m. to the Awards Ceremony and on to the After Party, it was a night of style, glitz and glamor, with well-deserved recognition for Corporate St. Lucia. The event attracted excellent sponsorship support from the business community. The lively Red Carpet was a delight where guests were hounded for photographs and snatched by the media for live interviews on their way to the official Award Ceremony. Red Carpet hosts Onika and Shayne kept viewers engaged and into the Red Carpet atmosphere. Over 300 persons from Corporate St. Lucia attended the event where thirteen awards were presented. Bay Gardens Resorts for the second consecutive year has emerged the Business of the Year winner amongst the thirty-four different companies making submissions at the 6th Annual St. Lucia Business Awards. Mr. Christopher Renwick, a stalwart of the business community, was recognized with the Lifetime Achievement award. BusinessFocus May / June

BusinessFocus May / June

West Indies General

Insurance Company Limited

BusinessFocus May / June

The list of winners for the 2015 St. Lucia Business Awards are: 1. Prime Ministers Award for Innovation : West Technology Group Inc 2. Award for Service Excellence: Spice of India Inc. 3. Entrepreneur of the Year Award: Spice of India Inc. Adil Sherwani 4. Young Entrepreneur of the Year Award: Monetta Wilson 5. Business of the Year Award : Bay Gardens Resorts 6. Goods Exporter of the Year Award : Baron Foods Ltd 7. Service Exporter of the Year Award: FDL Consult Inc 8. Award for Excellence in Human Resource Development: Consolidated Foods Ltd 9. Award for Marketing Excellence: Bay Gardens Resorts 10. Award for Corporate Leadership: Debra Tobierre, True Value Building & Hardware Supplies Ltd. 11. Award for Corporate Social Responsibility: 1st National Bank St. Lucia Ltd 12. Green Award: FDL Pest Control Solutions 13. Idea of the Year Award: Independent film Company There were three repeat winners in Bay Gardens Resorts, for Business of the Year Award; Baron Foods Ltd: Goods Exporter of the Year Award and FDL Consult Inc retained the Service Exporter of the Year Award. The judges of the 2015 St. Lucia Business Awards were Benjamin Menald, Randy Cato, Thecla Deterville, Eldon Mathurin, Andie George, Crispin Dâ&#x20AC;&#x2122;Auvergne, Mc Donald Dixon, Dr. Veronica Simon, Marius St. Rose and Paule Turmel John. The 2015 St. Lucia Business Awards was another excellent event with live radio, internet and television coverage, exceptional pizzazz on the LIME Red Carpet and superb entertainment celebrating corporate St. Luciaâ&#x20AC;&#x2122;s success culminating in a high spirited After Party. BusinessFocus May / June

We Provide the following services in addition to the refueling of vehicles: Soufriere 758-459-7729

Cooking gas â&#x20AC;&#x201C; both Sol and TexGas * Telephone top up â&#x20AC;&#x201C; Lime/Digicel Vehicle accessories, car batteries, air fresheners * Lottery Tickets Oils and lubricants * Ice * Convenient store

Location: Fond Cacao, Soufriere Telephone : 459 -7831/459-7729 BusinessFocus May / June

The Best Is Yet To Come

An adventure that began in 1994 has blossomed into what is undoubtedly the pearl and arguably the definition of Saint Lucia’s tourism and hospitality product – Bay Gardens Resorts. The history of this reputable brand begins with the inception of the Bay Gardens Hotel in 1994, founded by Joyce Destang, a retired schoolteacher and Desmond Destang, a retail/real estate entrepreneur. Its steady growth and consistency in both development and adaptation to the changes in the industry has propelled this family owned and operated business into the forefront of Saint Lucia’s most lucrative and evolving product – tourism. Executive Director of Bay Gardens Resorts Sanovnik Destang explains that the company’s ability to capture the Ultimate Saint Lucia Business Award for two years in a row is by no means a coincidence but rather the inevitable summation to a story that has long been in the making. He said the company is indeed honored by the award but would credit it happily to the more than 250 employees with an unmatched commitment to implementing the principles they have inherited. He said a considerable premium is placed on the employees’ development as a medium of giving Bay Gardens the competitive edge it has become known for. BusinessFocus May / June

“We have a broad base. We have really built up a network from the beginning and have kept trying to do better. People have seen it happening. They have seen the improvements and our continued efforts to outdo ourselves, whether in employee development, operations, marketing, adding new products and services and everything else. We are really at the forefront and we are innovative and we will continue to do that,” Sanovnik said. He believes the showcasing of the “well rounded” nature of Bay Gardens is what has also earned the company the Saint Lucia Business Awards for the second year in a row. “I can say that we don’t feel that it is not deserved. We have showcased that we are a well-rounded company. We care about the bottom line, we care about the marketing, but we also care about leaving something for the next generation,” he said. The resort was also nominated in other categories such as the Green Award, Corporate Leadership and Service Excellence. The Executive Director pointed out that the multi award-winning resort group with a combined 195 rooms, 5 conference rooms, 4 restaurants and 5 bars are all the result of extensive capital and personal investments, faith in the Saint Lucian tourism product

and most importantly faithin the English and French Caribbean markets which it targets. “We are a small, locally owned hotel group but we have international standards,” Sanovnik said, adding, “There is nothing that the large hotels can do that we can’t, in one way or the other.” “We have been growing and developing steadily from inception. It started from getting the location right and continued with hiring good management and staff that genuinely care about what they do and look forward to creating memorable experiences for our guests,” he said. Senator Berthia Parle, GM of Bay Gardens Beach Resorts, and Mr. Waltrude Patrick, GM of Bay Gardens Hotel and Inn are the head of the management team and have been with the brand for more than a decade now. Bay Gardens Resorts boasts a stunning 50 percent return guest ratio. The history of Bay Gardens is well known, from its genesis to the remarkable change in direction that Sanovnik brought to the table in 2008. From a completely overhauled marketing approach, to the ever adapting changes to the physical appearance of the Hotel, Inn and Beach Resort – Bay Gardens has managed to not only keep a firm anchor in the industry but this pearl has also been able to expand its ship and crew, while staying ahead of the game in the overall scope of its operations.

Bay Gardens is recognized as a well-rounded company by the Saint Lucia business community and has been honored with a formidable collection of nominations and winnings for business excellence in the past several years. The younger of the Destang family leaders divulged that despite this considerable growth and recognition, Bay Gardens is a Hotel with World Standards and he, like the rest of his family, is never satisfied. In fact, he revealed several image-altering changes that will see the company’s flagship property - Bay Gardens Beach Resort introducing the Eastern Caribbean’s first family focused open water Waterpark. Conceptualized by Bay Gardens Director Julianna Ward-Destang, Splash Island Water Park Saint Lucia is set to commence operations in August 2015. Splash Island will be located on Reduit Beach in adjacent to Bay Gardens Beach Resort’s newly opened Seagrapes Beach Bar. Bay Gardens Hotel’s Bourganvillea Conference Room has also received a facelift of late and will be adding a new Video Conferencing facility to target the corporate market in the summer of 2015. These improvements will add to an existing range of dining options, watersports and dive shop, gift shops, the La Mera Spa and conference centers. “We will continue to improve. We will constantly upgrade. We will never be happy with ourselves and we will always try to out do ourselves,” Sanovnik said.

BusinessFocus May / June

The Company FDL Pest Control Solutions is located at Bois Dâ&#x20AC;&#x2122; Orange, Gros Islet, St. Lucia. The company was founded by Christopher Lubin in 2004. Mr. Lubin is an Agronomist and has been involved in the pesticides and the pest control industry in St. Lucia and the Caribbean since 1985.

FDL Pest Control Solutions celebrated its eleventh aniversary in 2015 and in keeping with the companyâ&#x20AC;&#x2122;s ethos to continue providing the best quality service to our customers, an assessment of the last eleven years revealed that Customer acceptance of the integrated pest managment approach has been a challenge, however with considerable effort in customer involvement and education, this challenge is reducing.

Our knowledge of insect biology, how they impact our immediate environment, pesticides and pesticide use management in addition to the appropriate control measures are applied for maximum pest control.

Our approach is to understand the problem, its source and the conducive conditions that supports their presence then apply the appropriate solution which may not involve only the use of pesticides.

In order to ensure reduced pesticide exposure to customers and more targeted application to control identified pests, the broad scale application of pesticides is generally discouraged for the use of newer, safer molecules and/or new technology such as the use of radar and Microwave technology to detect and control cryptobiotic pests such as termites.

There is the need for behavioral change to dealing with structural pest management. An example is the inadequate treatment for subterranean termites in preconstruction termite control results in considerable damage to structures and substantial renovation cost. We continue to challenge customers to understand the implications of inadequate treatments and develop appropriate pest management stratigies to reduce structural damage by subterranean termites.

BusinessFocus May / June

Convincing customers that a proactive integrated approach results in the accural of long term savings by dealing with the pest issues holistically as opposed to inadequate treatments to what’s seen at any point in time due to a lack of knowledge of identified pests we believe is the better approach. Mission Statement: “To consistently ensure customer satisfaction and peace of mind by providing the most appropriate pest management solutions and remaining committed to the responsible use of pesticides as we create value and make a difference in protecting the environment, people and their possessions.” FDL Pest Control Solutions has continuously collaborated with The Private Sector and other organisations when requested. Since being established in 2004, FDL Pest Control Solutions has conducted several pest control consultancies, training and delivered services locally and regionally. The company adopts a holistic approach to pest management by developing a close working relationship with its clients, promoting customer involvement and utilizing integrated pest management strategies.

Our structure is designed to maintain a lean organisation of dedicated and well trained individuals delivering the best pest control service to our customers. We encourage customer education and involvement for the delivery of effective and efficient service resulting in total customer delight. FDL Pest Control Solutions has employed and trained many young St. Lucians with no prior pest management experience and has sort to instill in them the importance of having the passion and education needed to deliver quality pest management service to customers. We take pride in the fact that a St. Lucian owned Pest Control Company has been able over the past 11 years to deliver pest management services based on international standards and employ, train and develop young St. Lucians in this field. Bois D’ Orange, P.O. Box RB 2768, Rodney Bay, St. Lucia, Tel: (758) 453 1056, Fax: (758) 458 1068, Mobile: (758) 720 9458, (758) 2853904, email: fdlpcs@candw.lc

BusinessFocus May / June

Women in Leadership at

Aurea Lafeuille Executive Manager, Finance

Denise Holden-Pierre Executive Manager, Internal Audit

Beryl Carasco-Alleyne Corporate Secretary

Ms. Aurea Lafeuillee joined the Bank in 2004, with many years’ experience as an accountant in the private sector. She is a qualified teacher, having taught in her formative years at the secondary school level. Her responsibilities range from managing the Bank’s investment portfolio to financial planning and reporting. She also has oversight over the Bank’s budgeting process in collaboration with the management team. Her experience and knowledge working with various accounting software and automated accounting systems allow for greater efficiencies within the finance department. Her department is also engaged in collating financial data for submission to the Board of Directors and Regulators as well as to conduct research to assist in the decision making process.

Denise Holden Pierre is the Executive Manager of Internal Audit and has been with the Bank for seven years. Mrs. Pierre is a Fellow of the Chartered Association of Certified Accountants (FCCA) and has a degree in Maths and Business Management from Leeds University. Before returning to St Lucia, Mrs. Pierre worked as an Internal Auditor for a Bank, and as an Accountant at one of the subsidiaries of Provident Financial in the UK. She has also worked as the Manager of a team of analysts looking at the Arrears processes for a large bank. On returning to St Lucia, Mrs. Pierre joined PricewaterhouseCoopers as an external auditor for three years. She later worked as the Manager of Internal Audit with a large group of companies in St Lucia for about 5 years.

Ms. Carasco-Alleyne joined the Bank in 1996, serving initially in the dual capacity of Human Resource Manager & Corporate Secretary; and from late 2013 as Corporate Secretary with responsibility for Board of Directors, Shareholder and related regulatory matters. Her professional background and experience spans the fields of education, training, research, administration and human resource management at both local and regional levels. Over the past 42 years of her professional life, she has been particularly interested and involved in programmes and activities with a focus on adult education & literacy, gender related issues, community based development, ecumenical service and corporate governance.

In 2013, Ms. Lafeuillee was appointed to act in the capacity of Managing Director for a period of one year. She is a Fellow of the Certified Chartered Accountants (FCCA) and a Fellow of the Institute of Canadian Bankers (FICB) who, when not working can be seen enjoying a good game of netball. Ms. Lafeuillee is the proud mother of two adult sons. BusinessFocus May / June

Mrs. Pierre is proud to note that she has served on the Board of the Holy Family Children’s Home, and with the St. John’s Association. Mrs. Pierre is married with one son.

Ms. Carasco-Alleyne holds a Teacher’s Certificate; a Bachelor of Arts Degree; a Bachelor of Education Degree; and a Master of Education Degree. She has also participated in a range of seminars and workshops pertaining to corporate governance and leadership development. She is the proud Mother of an adult Son and Daughter.

Sylvia Alcee Executive Manager Client Services

Valery Marshall-St. Omer Executive Manager Human Resource, Organizational Development and Client Support

Clarette Auguste-Taylor Executive Manager Risk, Compliance, Recoveries & Securities

Mrs. Sylvia Alcee joined the Bankâ&#x20AC;&#x2122;s team in January 1981 and has moved steadily through the junior, supervisory and management levels over the years. Consequently she has been exposed to all aspects of the Bankâ&#x20AC;&#x2122;s business, having served within the Operations, Customer Service, Information Systems, Lending and Internal Audit departments. She has also benefitted from the range of staff training provided and managed the Rodney Bay Branch successfully for 19 years. Mrs. Alcee holds the professional banking designation of Associate of the Institute of Canadian Bankers (AICB) and is currently the Executive Manager Client Services.

Mrs. Valery Marshall-St. Omer has worked with the Bank for 28 years, during which time she has gained exposure to virtually all departments. Having started as a Teller, she rose through the ranks to be appointed Assistant Administrative Officer. In 1997 she was promoted to management level and held the position of Internal Auditor up to 2007 when she was reassigned to the Operations Department as Assistant Operations Manager. Due to her experience and sound work ethic, the position was quickly upgraded to that of Deputy Operations Manager. Mrs. Marshal St. Omer is currently pursuing her MBA degree and is the Executive Manager Human Resource, Organizational Development and Client Support. She is happily married with two children.

Clarette Auguste-Taylor has been working with1st National Bank St. Lucia Limited from January 1994. Upon her return home from her studies in London, she was initially appointed as the Internal Auditor. In 2000 she was promoted to Head the Credit Risk Department. Currently, she is the Executive Manager, Risk, Compliance, Recoveries and Securities having been appointed to the position in October 2013. Mrs. Auguste-Taylor has a wealth of knowledge and experience in the field of Banking and Finance and is married with two sons.

BusinessFocus May / June

ECONOMY & TRADE FOCUS

Obama’s Visit to Jamaica:

A Step in Re- Asserting USA Leadership in the Caribbean the Venezuelan influence in the region as most of the Caricom members are part of Venezuela’s cut-rate oil program, Petro Caribe. However, as Caracas is in rising economic concern because of the reduction in oil prices, U.S is stepping in to take advantage of the situation. Besides addressing ways to reduce energy costs, Obama also announced the initiation of the ‘The Young Leaders of the Americas Initiative’ by pledging US$70 million, which will be used in assisting youth development in the Caribbean and Latin America. Obama later headed to Panama to attend the Western Hemisphere Summit and met with the Cuban President, Raul Castro, which was the first face-to-face meeting between the leaders of these nations in half a century. Obama referred to his meeting with Mr. Castro as ‘candid and fruitful’ and emphasized on re-establishing diplomatic relations and reopening embassies in Washington and Havana. Obama’s visit is expected to bring advancement in security and technology in the Caribbean.

Announces US$90 Million in Projects for Clean Energy and Youth Development

resident Barack Obama during his 24 hour visit to Jamaica on April 9th, on his way to the Summit of the Americas in Panama, unveiled his interest in reasserting U.S leadership in the region through clean energy initiatives at a time when Venezuela’s economic clout might be in recession. During his visit, he met up with the Leaders of the 15-member Caribbean Community, or CARICOM, to carry out discussions on energy, trade and security. He explained the United States interest to launch a US$20 million facility for investment in clean energy projects and this will also offer early-stage funding to both public and private sector investments in such projects. Formation of an energy security task force was also discussed which will be partnered by the United States and Caribbean and Central American countries and this will help to evaluate progress in the development of energy sector reform and clean energy development. Most of the analysts are of the opinion that the sudden US interest in Jamaica is to wean off the island’s dependence on BusinessFocus May / June

UWI Embarks on Project to Transform Caribbean Cocoa Industry

EU Funds Project with a US$2.17M Grant

he University of the West Indies’ Cocoa Research Centre has embarked on a major new project: To Transform the Region’s Cocoa Sector.

The new project, dubbed the International Fine Cocoa Innovation Centre, is the brainchild of the Cocoa Research Centre and its partners, funded by a US$2.17 million grant from the European Union. It’s all part of a bid to capture a greater share of the $100 billion global cocoa industry, which is slated to grow by another 20 percent over the next decade. “The Caribbean is held in high regard as a cocoa-producing region because most countries produce a fine or aromatic (as opposed to bulk) cocoa,” said Kathrin Renner, International Cooperation Officer of the Delegation of the European Union to Trinidad and Tobago. “I think we would all agree that the Caribbean region holds great potential to be a major player in the international fine cocoa and chocolate trade and the work of the International Fine Cocoa Innovation Centre is bringing us closer to that reality. This is why the EU is happy to support it.” So how does the Caribbean do it? The plan is for “Innovative strategies, science and technology, farm management techniques, business models, and extension,” according

to Virginia Sopyla, Associate Director of The World Cocoa Foundation. “The International Fine Cocoa Innovation Centre will play an important role in this process, and there are other positive signs of a growing momentum in this direction,” she said. That includes the creation of a full-scale Fine Cocoa Innovation Centre by 2017. “It will house a modern model pilot cocoa orchard, a fine chocolate and couverture factory, teaching theatres, incubators, a restaurant, kitchen and labs and a fine cocoa museum and visitor centre. For the first time ever, an innovation centre will integrate agriculture, food processing, research and commercialisation for a single food crop – Cocoa,” according to a release. “The IFCIC will form the nerve centre to foster innovations along the entire cocoa value chain by the local private sector and attract innovative foreign investment into Trinidad & Tobago and the rest of the Caribbean,” said Professor Pathmanathan Umaharan, Director of the CRC. “Singapore did this with its telecommunication sector, Thailand its ornamental sector and Taiwan with it electronics sector. Can we do this with our cocoa sector? Yes, I think we can.” Courtesy: Caribbean Journal BusinessFocus May / June

ECONOMY & TRADE FOCUS

Loan approved for Choc Bay/ Gros Islet Road Improvement Project

Parliament authorized the use of the Kuwait Fund for Arab Economic Development for major infrastructural work in Saint Lucia.

rime Minister and Minister for Finance, Hon. Dr. Kenny D. Anthony, was given parliamentary authorization, to borrow KD$3,500,000.00 from the Kuwait Fund for Arab Economic Development.

The loan will be used to finance the Choc Bay/Gros Islet Road and Secondary Roads Improvement Project. The funds equate to just over EC$30 million. Dr. Anthony said the funds will contribute to the project and the overall economic development in Saint Lucia. “[This loan will be used] for the purpose of financing the Choc Bay/Gros Islet Highway and Secondary Roads Improvement Project, and to support the social and economic development in Saint Lucia through the improvement of transportation in the northern part of the island by catering to the existing growth of traffic, reducing travel time and improving secondary roads for traffic diversion.” The main infrastructure components of the project include widening the existing two-lane road to a four-lane dual carriageway from Choc to the Gros Islet junction; upgrading the Marisule, Monchy, Glace Motors, Bois d’Orange, Rodney Bay, Bonne Terre and Gros Islet junctions to improve traffic flow; constructing and strengthening pedestrian walkways with safety

BusinessFocus May / June

bars and foot paths; constructing nine overhead footbridges with reinforced concrete designs capable of withstanding high impact loads and high lateral loads resulting from earthquakes and hurricane force winds (these will be constructed at Marisule, Glace Motors, East Winds, Bois d’Orange, Monchy, Rodney Bay, Bonne Terre, Gros Islet and Wyndham); and upgrading the drainage infrastructure and ancillary structures. The Kuwait Fund extends loans on concessionary terms to finance development projects in Arab and developing countries. The Prime Minister added that he was grateful for the more than reasonable terms of the finance agreement. “It is rare in these times to receive such generous facilities and such generous conditions, and the Kuwaiti fund once again has been able to extend some support to the Government of Saint Lucia as it embarks on investing in the infrastructure of our country.” The fund also provides technical assistance to finance the costs of the feasibility studies of each project and training of the nationals of the borrowing countries. The Kuwait Fund is the first aid agency in the world to be established by a developing country.

Canada Invests $20m in Women Entrepreneurs

anadian High Commissioner Gerard Latulippe says small and medium enterprises (SMEs) play a pivotal role in growth in the Caribbean and to foster that growth attention there should be more focus on investing in the private sector.

“This is fundamental to a lasting sustainable economic growth. Women contributors are major contributors to growth. Supporting women in business builds a diverse and robust entrepreneurial environment that helps to generate an economy.”

“Investing in the development of the private sector is critical for the Caribbean in achieving economic growth, increasing competitiveness and reducing poverty. In promoting growth, emphasis must be placed on increasing the productivity of small and medium-sized firms and preparing them to take advantage of opportunities in regional and the local market,” he said Latulippe, who was speaking at the launch of World Bank’s business accelerator programme for women entrepreneurs at the Kapok Hotel, Maraval, Trinidad, said the leadership of women in SMEs was a major factor in economic growth for a country.

Latulippe said Canada had invested $20 million in the Entrepreneurship Programme for Innovation in the Caribbean (EPIC), a programme where participants are being trained to provide assistance to women entrepreneurs so they can build their own businesses and contribute to growth in the economy. He said: “In summary, economic growth requires the talent, connectivity and entrepreneurial vigour of the entire population, especially women.”

The contribution of an entrepreneur who is a woman is important, he said, and creating opportunities is not enough because it is important to ensure that those opportunities “are inclusive and empowering.”

“In July 2007, the Prime Minister of Canada bolstered his commitment with an announcement that Canada will support the region with the allocation of $600 million in development assistance for regional programmes in the Caribbean. To deliver this commitments Canada’s development programme is supporting the Caribbean region through projects and programmes.”

Latulippe said Canada is committed to assisting countries in the Caribbean in achieving a shared vision.

BusinessFocus May / June

ECONOMY & TRADE FOCUS

How to SELL Property in Saint Lucia

By Trudy O. Glasgow B.A., LL.B (Hons.), BVC, LL.M, P.C.H.E

elling your property may not be as straightforward as you would expect in this economic climate. Fewer persons are in the financial position to purchase a house and so many properties are on the market for several months or even years before there is any real interest and/or sale. You have gone to your real estate agent to put the house on the market, and the property is finally being sold. Here are some tips to consider to close the deal. 1. Do you want to sell? Or rent? : It is a difficult decision to make to determine whether the time is right for you and the economy to sell your property. Property values appreciate in time, and it may be a worthwhile investment to hold on to your property until the global economy improves rather than sell for less now. This will also be determined by a number of personal and professional factors including your financial stability and other plans for the future. Once you have decided to sell, make the necessary adjustments to make it happen. You may decide to attempt to sell the property yourself or get a real estate agent. There is nothing preventing you from using both methods.

BusinessFocus May / June

2. Your agreement with your real estate agent: This will vary depending on your agentâ&#x20AC;&#x2122;s experience and expertise. The average arrangement is three to five percent (3-5%) of the selling price of the property. It is advisable that the amount that the real estate agent receives on completion of the sale be discussed and agreed up front. We would advise that your agreement be in writing. Your agreement should also include whether or not your agent has an exclusive arrangement with you, or whether other agents will be allowed to attempt to sell your property as well. 3. Showing and advertising the property: Your real estate agent will be responsible for marketing your property. From putting a sign outside your property indicating that the property is for sale with the real estateâ&#x20AC;&#x2122;s contact details; to advertising in the local newspapers, you must discuss what your preferences are in terms of how the property is advertised and who will be incurring those costs. 4. On the market: Enquiries will start almost immediately once the property has been properly advertised. Some will be serious and others less so. Your real estate agent can filter these calls, emails and other communications at your request. You can also be part of the

Ms. Trudy O. Glasgow, B.A (History), LL.B (Hons.), B.V.C, LL.M, P.C.H.E, is a practising attorney at the law firm of Trudy O. Glasgow & Associates and a courtappointed mediator in Saint Lucia (and has also taught law at University level in the UK). Ms. Glasgow is the current Vice President of the Bar Association of Saint Lucia and sits on various boards including the National Research and Development Foundation (NRDF), Legal Aid Board and the Rotary Club of Gros Islet. She writes a weekly legal column, Simply law, in The Voice newspaper and recently published a book which is a selection of her articles with some new material.

Deed of Sale and Mortgage. It usually takes fourteen to twenty eight days (14-28 days) to be registered at the Land Registry. Once you have signed these documents with the purchasers, you have technically surrendered your title/ownership to the property. However, it will not be legally owned by the purchasers until the property has been transferred in title/ownership and registered. Upon signing these documents, all monies should have exchanged hands, in other words, the purchasers do not have to wait for the completion of the registration process to pay the vendors. Payment should be completed at this stage. 10. Important documents in closing the sale: Purchasers and vendors have to submit the following documents for consideration to their lawyers: - - - -

National Insurance Corporation Compliance letter Income Tax compliance letter- (declaring that you do not owe any income tax, and if you do, that suitable arrangements have been made) Property tax compliance letter- (to declare that you do not owe any property tax, and if so that suitable arrangements have been made) A form of photo Identification: for example, National Identification card, passport, or driver’s licence

Remember you will be required to pay Vendor’s tax so find out from your lawyer how much that will be. This article is for general use only, for advice specifically for your case, please see your lawyer. viewing of the property so that interested parties can meet the owner, if that is convenient; otherwise you can leave it entirely to your real estate agent to handle. 5. What’s your final offer? : It could take a few days, a few months or even a few years but after following your real estate agent’s advice on how to advertise and showcase your property, you have a serious offer on the table. It is now time to negotiate your final selling price. Once agreed, it is time to visit your lawyer. 6. Agreement for sale: Some purchasers are not in the position to pay the entire asking price in one lump sum (even with some assistance from a financial institution). In these circumstances, as the vendor, it is recommended that you have your lawyer prepare an agreement for sale. This essentially sets out the terms and conditions of the sale, and most importantly, the payment structure for the sale of the property and the agreed timeline for the sale to be completed. 7. Get a deposit: If your buyer cannot purchase the property immediately and has expressed a serious interest in purchasing, get a non-refundable deposit on the property. This will illustrate the buyer’s intention to close the deal, and secure the property for the buyer. A standard deposit is in the region of ten percent (10%) of the purchase price. 8. Put a caution: Nothing will put your buyer’s mind at ease like offering to secure the property by having a caution put on it. This is done through your lawyer at the Land Registry. Once the sale has been completed, the caution can be removed. 9. Get a good lawyer: In order to complete the transaction, your lawyer will have to prepare two documents: a BusinessFocus May / June

IN THE KNOW

Dear You’ve Come a Long Way,

re you familiar with the tagline used in this article’s title? If you are not, you shouldn’t be (too) concerned, as this speaks to the whole point of this article: Is the tagline still relevant or a marketing relic?

Let’s try again… Can you name the brands associated with the taglines below? • • • • • • • •

Expect more. pay less Where’s the Beef? Melts in your mouth, not in your hand We try harder Eat fresh Because you’re worth it Life’s Good Breakfast of Champions

Now, let’s move closer to home. Test your knowledge of the taglines belonging to the following locally based organizations: West Technology Group, Sagicor, M&C Home Depot, Super J, 1St National Bank, Rituals, Grant Thornton, Courts. Can you match company to tagline? • • • • • • • •

Better Value for Better Homes Bringing Value Home Grounds for enjoyment Here…for YOU! We make IT work! Wise Financial Thinking for Life An instinct for growth Better Everyday

For a long time, a pithy phrase or sentence was a necessary addition to a logo, but now, some organizations (e.g Google, Starbucks) have chosen to do away with it, seeing the tagline as extraneous. Another old school versus new age debate? Let’s have a closer look.

BusinessFocus May / June

Baby.

The argument for taglines: •

• •

•

• • • •

Taglines provide the opportunity to make a positive and lasting first impression using just a few words. They assist with brand recall. They convey a brand’s promise and declare how the organization differs from its competitors. When an organization’s name or logo does not give an indication of what it does, a tagline becomes that descriptor. Therefore, an organization can be more creative as it is not forced to choose a name relating to its products/services, since a tagline can help provide clarification. A tagline invites prospects and consumers to experience the brand; those few words can pack an emotional punch (e.g Nokia “Connecting People”). Taglines are essential because of their word economy in this age of shortened attention spans and overwhelming marketing noise and clutter. A well-crafted tagline is an easy and inexpensive tool to boost a brand’s image and message, once used repeatedly and prominently. Taglines offer another opportunity to communicate and connect with prospects and consumers, so why pass that up? Some points against taglines: Most taglines are so poorly crafted that they are, in fact, self-defeating. Some brands are very well established and differentiated and taglines do little to nothing for them. Some organizations have discovered other ways of differentiating themselves. Taglines may be more effective when a brand’s competitive advantage is based on a product/ service attribute or a unique benefit. Many brands today are more focused

•

on possessing distinctive values and personalities and those are more difficult to convey succinctly or in words. The consumer has changed and as a result traditional campaigns have given way to more targeted social media. With limited time/characters to communicate, some companies have chosen other methods of communicating. Organizations are more flexible when it comes to branding, and there is an interest in tailoring messages to address different audiences. A single brand tagline may not work as well in this new context. Some critics question the uniqueness of taglines. For instance, the “Good to the last drop” tagline used by Maxwell House can be applied to so many other brands, e.g Blue Waters, Rituals, Felly Belly.

Does your company have a tagline? Where do you stand?

Pilaiye Cenac is an entrepreneur. Her qualifications include a BSc. in Psychology and Sociology and an MSc. in Marketing. She is also a PMP and a published writer. One of her companies, In Tandem, focuses on low cost approaches to enriching the customer experience. She can be contacted at pilaiye@gmail.com.

Chartered Director Program Making Steady Strides Across Caribbean

t the 2nd Annual General Meeting held on April 17, 2015 at the Courtyard by Marriott, CEO Desiree Gobin-Seecharan of the Caribbean Corporate Governance Institute (CCGI) boasted an upward trend in membership and the Institute’s Chartered Director Program - the first of such kind in the Caribbean, and the fourth in the world. “We are excited about our membership growth, we experienced a 66% increase in individual membership and growth of over 30% in organizational membership to achieve 134 members, as we move into our third year of operations” said CEO Desiree Gobin Seecharan.    The first cohort in CCGI’s Certificate in Corporate Governance, the first of three steps in its Chartered Director Program, will complete the programme in June 2015 by demonstrating requisite knowledge, through an examination. The organization has also made significant strides in its accreditation process. “The Institute has successfully completed all steps towards being registered with the Accreditation Council of T&T (ACTT). The Institute thereby does not only comply with laws and regulations, but also demonstrates best practice through quality assurance and proper governance of the regions gold standard in Corporate Governance education” said Chairman Dr Kravatzky.     The AGM also saw the appointment of new board members. The newly appointed and returning directors to the Board are as follows:   Newly Elected  Ronnie Bissessar -Attorney-At-Law, Trinidad & Tobago  Vincent Hippolyte -Managing Director, Water & Sewerage Company Inc. (WASCO) ,St . Lucia  Jacqueline Quamina - General Counsel/Corporate Secretary- Republic Bank Trinidad and Tobago, Trinidad and Tobago  Returning Board Members  Dennis Brown, Accountant / Financial Consultant,

Jamaica   Leslie Clarke, Managing Director of Murphy Clarke Financial Limited, Trinidad & Tobago  Clarence Faulkner, Managing Partner, Pension Management Interactive Inc. British Virgin Islands  Fe Lopez-Collymore, Corporate Secretary, Guardian Holdings Limited Trinidad & Tobago  Axel Kravatzky (Chairman), Principal Consultant and Director of Syntegra Change Architects Limited,Trinidad & Tobago   Arnold Niranjan, Partner, Advisory Services, Ernst and Young, Trinidad & Tobago  Marlon Yarde, CEO and General Manager, Barbados Stock Exchange Inc & Barbados Central Securities Depository Inc. , Barbados       The Caribbean Corporate Governance Institute (CCGI) is the first and only non-profit membership organization dedicated to advancing corporate governance across the Caribbean. CCGI provides world-class training, professional development, regional corporate governance standard development and networking for Directors, Senior Executives, Investors, and Regulators.    The Caribbean Corporate Governance Institute (CCGI) is the first and only non-profit membership organization dedicated to advancing corporate governance across the Caribbean. CCGI provides world-class training, professional development, regional corporate governance standard development and networking for Directors, Senior Executives, Investors, and Regulators.    For further information contact:   Tamaisha Eytle | Caribbean Corporate Governance Institute  14 Alcazar Street Port of Spain, Trinidad & Tobago T: +1.868.221.8707 (TTO) M: +1.246.283.4314 (BAR) M: +1.868.774.3306 (TTO) M: +1 (876) 345-1643 (JAM)  tamaisha.eytle@caribbeangovernance.org   www.caribbeangovernance.org BusinessFocus May / June

IN THE KNOW

The Value of Education

By Yvette Regis

he term Education refers to learning: knowledge and skills are passed on or transferred from one individual or group of people to another. Experience can also be considered as a form of education.

Making an investment in our education has many benefits. Education helps in raising our income and gives us a better chance of fulfilling our lifeâ&#x20AC;&#x2122;s dreams and aspirations. In short, it can reduce or prevent poverty.

Here are Some of the Benefits of Attaining an Education: Education helps us plan our future Education provides a foundation to allow us to pave the way to becoming whatever we want to be; a nurse, teacher, scientist, inventor, doctor, politician, entrepreneur, etc. This development and progress also helps our country as we can go on to become the teachers, scientists, inventors, accountants, welfare activists, soldiers, and politicians who work together to form the very backbone of the society. Without this group of intellectuals or educated individuals, the economic and social framework would fall apart.

Education gives us a choice With education, you have the opportunity to take charge and control over your own life and income. If you decide to become an entrepreneur, you can formulate your own ideas and watch them take form. In doing this you will be able to offer job opportunities to others, whose expertise you can put to use, while providing them with an income. In short, it can help you to realize your potential, which allows you to empower yourself to do more than you thought you could do before. If you work for someone, education can help you to get a higher paying job, which allows you to be more financially secure and opens up the possibility of more job opportunities. BusinessFocus May / June

Education Increases our Income It has been found that the higher your level of education, the higher the probability of earning a higher salary.

Education Helps to Boost the Economy Improving the literacy rate of a country tends to have a positive effect on the average annual gross domestic product (GDP) of the country. Education helps people work better and can create opportunities for sustainable and viable economic growth. Education helps to reduce poverty Even basic reading and numeracy skills could help people avoid poverty. Education gives people critical skills and tools to help them better provide for themselves and their children. It opens up the possibility to a better paying job as you have acquired more skills that are useful to the society.

Education Fosters Peace Education allows you to interact with people who you may not normally interact with and allows you to see and experience diversity and different points of view. Knowledge is power, and the more you know about individuals and groups of individuals in society in terms of their goals, strengths and weaknesses, what is important to them- this will foster understanding and in turn foster peace.

Education Keeps You Competitive In the case of business persons, one needs to keep on top of what is new in your industry. If you do not, your competitors will leave you behind. Entrepreneurs should know about any advancement or changes to their products or services. Therefore, you will develop your social and technical skills; as well as your general business knowledge.Â

Education in the technical skills ensures that you are offering the best to your clients. This keeps you competitive, and in most industries puts you at the head of the pack.

Positioning for Strength If you want to have a profitable business or you want to be able to sell your goods and services effectively, it is very important to increase your business knowledge. You need to understand gross and net margins, working out profit margins, tax formulas, and more. You need to formulate systems to make your business run more efficiently, learn programmes to record your sales and expenses and find ways to grow your business at a faster pace. The problem cited by most business owners why they cannot educate themselves is that they have no time. They fear that it will be too much time taken away from the business and too much work. Is it too much to learn new things? If you are serious about growing your business, continual education is the key.

Education is More Accessible Now more than ever, it is easier to get an education. It does not have to be in a traditional classroom. In this age of technology, there are numerous online resources such as webinars, online books, downloadable eBooks and other resources. Learning institutions are now fashioning courses and programmes to fit around working men and women with evening, weekend and online courses. There will be a suitable course that fits your schedule. About the Author

Ms. Yvette Regis is the Senior Project Officer at NRDF.

My name is Horatio. I’m Here to paint the world yellow.

Join me. The people that make better journeys horatio TM

Head Office - 57 John Compton Highway, Sans Soucis, Castries Tel : 452-0680/452-0679 Fax: 452-8980 Hewanorra International Airport, Vieux Fort: 454-9636 After Hours: 451-7351 Email: hertz@candw.lc Website: www.hertz.com

The Sponsor of EUFA Champions League BusinessFocus May / June

IN THE KNOW

RESIGN WITH YOUR FUTURE IN MIND!

Leave With the Best Impression

By : Ashwini J Singh

e have all been there. At the point when you are ready to close one professional chapter and start another. In an extreme situation perhaps you stormed out after unleashing your frustration, or maybe you gloated with satisfaction at having handed in your letter of resignation content to laze away your last days on the job. Or maybe you didn’t formally resign at all. Maybe you just chose not to show up and left it to your employer to make sense out of your absence. In this age of uncertainty that we live in, it is not likely that the majority of us will be employed with the same company for the next 20-30 years as was the norm for our parents. Taking this inevitability into consideration, it is therefore in our interest to master the art of resignation so that we navigate our employable futures on our terms and with grace.

The importance of leaving bridges intact

Despite how satisfying it may be, we have all been warned time and again not to burn our bridges. A bridge is a connection and connections present a basis for opportunities. You may not intend to request a formal recommendation letter from your current employer however bear in mind that an informal recommendation may be solicited unbeknownst to you. It is not unheard of for potential employers to contact current and past employers to casually enquire about a candidate’s performance and work ethic. One thing is for certain – The Future is uncertain

Just because you are leaving now that does not mean you may not want back in at some point. Corporate cultures get revamped. People move around. New positions are created. It is possible that at some point down the road BusinessFocus May / June

another more viable opportunity may present itself at your former place of employment. Perhaps that new journey you embarked on didn’t quite work out as you had planned. Staying in their good graces could potentially fast track your application to the top of the pile. In a best case scenario you may bypass the formal interview process altogether and just be a shoe in for the job. There is value in being considered first. Reputation is everything

Our reputations precede us. And reputations do not just matter when it comes to senior management. Your coworkers are substantiated in their impression of you as they work day in day out with you. They are privy to you as your most natural self. They therefore hold a lot of clout when conveying that impression of you. The world has been become very small and word travels. It is possible that you may even end up working with them elsewhere in the future. At no other time has it been more important to keep your options open and maintain your network. Make sure that you don’t burn so many bridges that you’re left with nowhere to go. Now that we’ve ascertained the importance of putting your best foot forward even when you’re making a grand exit, here’s how you go about doing it: Write a formal resignation letter

Maintain the courtesy of writing a formal resignation letter to your employer. Do not make it personal. Simply thank your employer for having extended this opportunity to you. Be consistent with your reason for why you’re leaving so that you maintain integrity. It is not necessary to go into detail but do not type one thing in the letter and say something completely different around the office. Be sure to give notice so that you both have

a chance to tidy up loose ends and make your transition as smooth as possible. Business interruptions cost money so your employer would appreciate your thoughtfulness. Maintain focus

As easy as it would be to mentally check out, try your best to avoid it. You are still on the job and should maintain professionalism and work ethic. Your actions are still impacting your coworkers and management. It would be unfair to them to have to pick up your slack so be considerate for the sake of your personal success and your professional relationships! Be grateful

Gratitude is at the core of our approach to successfully navigating every situation that we encounter in life. There is no substitute for an attitude of gratitude. Despite whatever difficulties you may have encountered in your role or even throughout the resignation process, challenge yourself to find ways to be grateful for your experiences, lessons and resulting growth. Leave the best impression Last impressions matter just as much, if not more, than first impressions. Leave them feeling like they lost an asset. Move forward with no regrets and a clear conscience. Your future triumphant self will thank you. About the Author: Ashwini J Singh is a graduate in Business and Finance from the University of Western Ontario in Canada. She is employed in the Financial Services Sector in Toronto.

British Chamber of Commerce Established in Saint Lucia

John Kennedy

Randolph Cato

Confirms 67 British Scholarships for Saint Lucian Students in Collaboration with RISE (St Lucia) Inc.

he British Caribbean Chamber of Commerce in Saint Lucia was established in April 2015 as part of a network of British Chambers of Commerce throughout the world, established to support and promote bilateral trade and investment. John Kennedy became the honorary President of the British Caribbean Chamber of Commerce in Saint Lucia. He is the Chief Executive Officer and cofounder of Boka Group, an international private equity fund established in 2000. The Group specializes in investing in emerging markets, particularly in Europe and with the establishment of its outlet in St Lucia, the Caribbean has become a focus of its investment strategy. Boka has a global investment portfolio, which, in Saint Lucia, includes the 300 acre Mahaut Estate and Belvedere Plantation near Canaries.

The BCCSL also announced the appointment of Randolph Cato as its Country Manager effective April 2015, after a competitive selection process. He has a track record as a highly regarded development and trade professional in the Eastern Caribbean, with a wealth of national and regional experience gained over some thirty-five years. He is a former Senior Director of Economic Affairs at the OECS Secretariat. The first act of the BCCSL has been to establish and promote the scholarship program for St Lucian students. Supported by RISE (St. Lucia) Inc., Senator Stephen King, Shelley-Ann Noon and the Sir Arthur Lewis Community College successful students will now attend university in London, with full tuition fee coverage for degree courses in law and business. Scholarship places have been awarded to 67 St Lucian students for courses commencing in May.

The recently launched British Caribbean Chamber of Commerce (BCCC), and RISE (St. Lucia) Inc., commend the Cabinet of Ministers for their vital support of the BPP 40th anniversary scholarship offer to Saint Lucia. Thanks to the Cabinet, led by Prime Minister Hon. Dr. Kenny D. Anthony, scholarship recipients offered full tuition coverage, can access loan financing from recognized banks and financial institutions to cover their living expenses in London; a prerequisite for the Tier 4 student visa to enter the UK. The Cabinet has also graciously allowed prospective students serving bonds to gain deferral of their bond to access this one time offer. St Luciaâ&#x20AC;&#x2122;s High Commissioner in London, Dr. Ernest Hilaire, also deserves special recognition for his on-going support in making this opportunity a reality for the prospective students.

BusinessFocus May / June

IN THE KNOW

FOOD SAFETY AND HACCP FOR ST. LUCIA’S KEY INDUSTRIES EMBRACING THE CHALLENGE!

Food SAFETY AND HACCP FOR ST. LUCIA’S KEY INDUSTRIES EMBRACING THE CHALLENGE! FOOD SAFETY IN THE HOTEL & TOURISM INDUSTRY

FOOD SAFETY IN THE HOTEL & TOURISM INDUSTRY The latest arrival statistics have confirmed that more people are travelling to St Lucia and the surrounding Caribbean every year. Visitors’ expectations, regardless of their destination, are that all hotels and other providers of food services are meeting international standards for Food Safety. This seems to be an increasing priority for St Lucia’s hotel and tourism industry. For example, over the last 18 months some of the island’s leading properties have provided 580 food handlers (Bar, Restaurant and Kitchen staff) training in Food Safety, Sanitation Standards and HACCP (Hazard Analysis and Critical Control Point) delivered by Springboard Training & Development Centre.

What is Food Safety? Food safety is fundamentally about protecting food from anything that can cause harm, illness or injury to your guests, consumers and you. It requires effectively implementing Food Safety measures through all the steps from farm to table.

The Price of Getting it Wrong! There is no room for complacency in this area as the consequences of getting it wrong can be catastrophic. For example; in the late 1990s it took just two separate hotel food poisoning incidents for the British media to participate in a very damaging press campaign against the Dominican Republic’s tourism industry. In 1998, members of the FTO (Federation of Tour Operators) decided that if they were to continue to offer holidays to the Dominican Republic, a comprehensive food hygiene-training programme was necessary. They adopted a common policy to only use hotels that were contracted to undertake food hygiene training and auditing. Hoteliers, who did not agree, were removed from all the tour operators’ programmes. Interestingly, many of the hoteliers, who were initially hostile to this approach, found that participation in the programme made good business sense and proved to be a marketing advantage for them and the industry. Tour operators (First Choice, Thomas Cook, My Travel and Thomson) pay out £5.5m compensation to 1,000 British tourists who suffered food poisoning on Dominican Republic holiday from hell By Daily Mail Online PUBLISHED: 19:50 GMT, 17 July 2013 BusinessFocus May / June

FOOD SAFETY & HACCP IN THE AGRO PROCESSING AND FOOD RETAIL INDUSTRY Caribbean Agro-processors and other food manufacturers are developing global ambitions to get their products into markets such as the USA and the European Union. However, to ensure the safety of food both locally and along this global supply chain, these established markets require local agro-processors to adopt international standards for Food Safety. At the heart of these standards is the implementation of a Food Safety Management System (FSMS) based upon the principles of HACCP. Food Manufacturers are working hard to comply with these requirements as contained in Regulation No. 852/2004 of the European Parliament and within the USA Food Safety Modernization Act. Food safety is also the number one priority of the produce, wholesale and the retail food industries. All employees of these companies should receive basic food safety training, including training on hygiene practices, temperature control and food handling. Furthermore stores and receiving agents must be trained to correctly inspect and accept food products from external suppliers. It is encouraging to see that this message is being taken seriously by the St Lucia and regional business community. Recently Fine Foods Inc (regional franchise holders for KFC, Pizza Hut and Save a Lot), DG Farms Ltd and FDL Pest Control Solutions trained some of their managers and supervisors through the Royal Society for Public Health (RSPH) Level 3 Award for HACCP with Springboard Training & Development Centre. The programme was delivered across 3 days and concluded with a challenging examination. They achieved a 100% pass rate, including two distinctions and are now ready to assist their organisations with the design; implementation and ongoing operation of HACCP based FSMSs, thereby reducing their dependency on external consultants which can be a very costly route. Blue Bell recall ........Listeria found in products from Texas-based Blue Bell Creameries has been linked to 10 illnesses – leading to three deaths –In response the company has recalled all of its products......The company is also expanding its cleaning and sanitation system and its employee training.......... Extract from the Guardian Newspaper -PUBLISHED: 22nd April 2015

GETTING IT RIGHT IN BOTH KEY INDUSTRIES According to research, it is estimated that 1 in 10 people could be subject to a food borne illness each year resulting in thousands of working days lost, not to mention the adverse publicity associated with these incidents. Whether protecting your local consumers and guests or getting yourself ready to enter the export market, all food businesses should seek to implement a Food Safety Management System (FSMS) based upon HACCP (Hazard Analysis Critical Control Point). To successfully achieve this, all food businesses need to focus on the following four key areas: 1. Implementation of appropriate prerequisite programmes: Prerequisite programmes are the basic conditions and activities that are necessary to maintain a hygienic environment and are used to control hazards associated with the food service or food production environment (premises, personnel, plant and equipment). Many of these will be documented in the form of GMPs (Good Manufacturing Practices), GHPs (Good Hygiene Practices) and SSOPs (Sanitation Standards Operating Procedures). 2. Appointment of the HACCP Implementation Team: The successful application of HACCP requires the full commitment and involvement of management and the work force. Implementation is best led by those operational supervisors in the organisation who fully understand the end to end food production or food manufacturing process. 3. Implementation of HACCP principles: HACCP is a scientifically based system used to control hazards associated directly with the actual handling, preparation, storage, service and/or packaging of food ingredients. Implementation will involve the identification and assessment of food safety risks, effective controls, monitoring and evaluation and the subsequent documentation and review of records and end to end system. 4. Training: Training is fundamentally important to any Food Hygiene System. It is widely acknowledged that poor hygiene & sanitation practices by Food Handlers are the most likely cause of food poisoning incidents in the Food Manufacturing and the Hotel & Tourism industries. It should be recognised that HACCP cannot be effectively implemented unless those involved in handling food on a day to day basis are fully engaged and understand the risks to themselves and the organisation. Equally important is the training of the members of the Implementation Team who are best placed to design, implement and maintain the organisation’s HACCP based FSMS.

Springboard Training & Development Centre UK Accredited & Certificated Training

• Food Safety & HACCP • Hospitality (Bar, Restaurant and Sales skills training) • Management & Leadership training Telephone: +1 (758) 450 0198 • Email:springboardstlucia@gmail.com Website: www.springboardstlucia.com • Facebook: springboardstlucia Address: Head Cornerstone Building, Massade, Gros Islet, St Lucia

WHAT’S AVAILABLE LOCALLY TO SUPPORT IMPLEMENTATION There are a number of training options and qualifications available, at various levels, for employees of Hotels, Restaurants and Agro-processors. However, it is imperative that any training provider and the qualifications offered are recognised internationally. It should incorporate the legislative requirements for food businesses exporting to the USA and EU, as well as the recommendations provided by International Tour Operator representative organisation bodies such ABTA & FTO. It is for this reason that Springboard has held discussions with organisations such as CARPHA, ABTA & FTO and is an approved provider with the Royal Society for Public Health, whose qualifications are specifically designed to address the four essential areas of focus identified above. As an approved centre with the RSPH, Springboard is accredited to offer a number of internationally recognised and accredited Food Safety and HACCP training programmes and qualifications. •

Springboard’s Level 2 HACCP, Food Safety and Sanitation Standards programme and its RSPH Level 2 Award in Food Safety for Caterers (one day programme), comprehensively meets this training requirement for food handlers (Bar, Restaurant & Kitchen) in hotels and restaurants and production staff in Food Manufacturing businesses.

•

Springboard also offers the RSPH Level 3 Award in HACCP for Food Manufacturing and the RSPH Level 3 Award in Supervising Food Safety in Catering which equips Managers and Supervisors with the skills required to fully implement, document and maintain a HACCP based Food Safety Management System.

What do I Need to do Next? Over the coming months Springboard, in collaboration with the SLHTA (St Lucia Hotel & Tourism Association) will be offering a number of free seminars designed for the management teams within these industries. These seminars will provide insights into the recommendations of ABTA & FTO (travel and tourism), relevant USA and EU Food Safety legislation for importers to these markets and will outline the most effective routes to achieving compliance. If you are interested in these awareness sessions or are in the process of developing your Food Safety & HACCP strategy then please email Springboard at springboardstlucia@gmail.com or telephone +1 (758) 450 0198 to discuss further.

About Springboard: Founded in 2012, Springboard is a locally based training provider specialising in Food Safety & HACCP, Hospitality, Management & Leadership training. Springboard is proud of its ability to offer international training standards and accredited qualifications at a local price. Testimonials can be provided from Springboard’s clients including Fine Foods Inc, The BodyHoliday LeSport, Palm Island (Elite Resorts) and Ti Kaye Resort & Spa. Thank you to Baron Foods Ltd and Elegance Café for providing the images used within this article. Telephone: +1 (758) 450 0198 Email: springboardstlucia@gmail.com Website: www.springboardstlucia.com Facebook: springboardstlucia Address: Head Cornerstone Building, Massade, Gros Islet, St Lucia

BusinessFocus May / June

YOUTH IN FOCUS

First Citizens Challenges Young People:

“Change Your Money Mindset!”

“Who wants be a millionaire?” The hands went up even before the question reached the back of the room. “Now, who wants to be a billionaire?” Even more hands stretched as First Citizens Trader and Liquidity Management Officer Cindy JnBaptiste began to deliver her presentation on “The Millionaire Mindset.”

first acknowledge it, recondition and reprogram ourselves.” The advice to increasing your chances of becoming successful with money included “focusing on your Net Worth and increasing it, knowing your value and promoting yourself and focusing on opportunities.”

The occasion was the First Citizens Investment Services third Annual Young Professionals Seminar (YPS) held on April 29th at Coco Palm which saw participation from over 120 professionals between the ages of 18 and 35 who came to get financial management advice. Held under the theme “The Money Mindset: Change the Way You Think About Money” the seminar was an energetic and interactive session also featuring presentations from First Citizens Business Development Officers Shaka St Ange and Christine Charlemagne as well as Client Relations Officer Denise Lewis. The event received sponsorship from The Cell, Azuk Events, Fineline Graphics, Advanced Intellectual Methods (A.I.M.) and Strongbow Apple Cider.

One of the tips that seemed to resonate was acting in spite of fear. “Wealth is created through growth, which is scary, uncomfortable, inconvenient and worrisome at times,” Ms Jn Baptiste explained. “In order to achieve success we must act in spite of fear, act in spite of discomfort, act in spite of inconvenience and act in spite of worry.”

Featured Speaker Leslie Collymore, himself a young professional and the managing director of Advanced Intellectual Methods, started the session with a candid discussion on how he started his own business and maintained a full time job while building the A.I.M. brand. Today Collymore’s company, a management consulting think tank with a focus on digital marketing strategy and business intelligence/analytics, is focused fulltime on developing and expanding the company’s social media footprint and expanding his client base and brand. “Social Media Marketing has to be focused,” he noted of the boom in online marketing. “You have to think about the content, who you are trying to target and then use the correct form of social media and methodology in order to get the desired outcome.” Other topics covered during the two-hour session were Investment 101, Understanding Credit and Mastering Your Money Management with practical examples to manage money using various types of budgets and investment options. The seminar culminated with Ms. Jn Baptiste taking participants through an explanation of the ordinary mindset vs. the millionaire mindset. “We all have preset programming when it comes to money that is based on what we heard about money, saw about money and our specific experiences with money,” she began. “That’s our money blueprint and in order to change that blueprint we must BusinessFocus May / June

A healthy discussion followed the presentations with members of the panel fielding questions from the audience. The event closed with a networking mixer hosted by Strongbow Apple Cider where attendees got a chance to mingle with the panel. The purpose of First Citizens YPS is to bring together young adults in Saint Lucia and empower them with financial information and advice whilst also inspiring them through the success stories of others. The hope is that First Citizens can impact their financial future and by extension the country’s economic reality. For more information about YPS and other First Citizens seminars email: seminars@firstcitizensslu.com.

Principal of the Antigua State College, Hyram Forde and CEO of LIAT David Evans after signing MOU

Aircraft Maintenance Training at ASC Gets Top Class Approval Rating

newly signed Memorandum of Understanding has resulted in a new course of Study being offered at the Antigua State College (ASC). Students will now have the opportunity to undertake studies in Aircraft Maintenance Training.

The programme, which has been in the works for the past two years, is a collaboration between the Engineering Department of the ASC, LIAT and Caribbean Helicopters Ltd. based in Antigua. It brings on board two tertiary institutions in Canada: The College of the North Atlantic and the Marine Institute of Memorial University in Newfoundland. After the three-year programme, students will be equipped to take their License Without Type Rating (LWTR) Examination administered by the Eastern Caribbean Civil Aviation Authority (ECCAA) and will also be qualified to work as Aircraft Maintenance Technicians. Principal of the Antigua State College Hyram Forde said within the next three years students in the Aircraft Maintenance Technology programme will be eligible for the Eastern Caribbean Civil Engineering Authority’s Basic Engineering Licensing Exam.

He added that the programme will prepare them for jobs not only in the region, but all over the world. “It is hoped that by virtue of the level of the training that these students would have acquired they can be deployed in Africa, in the Middle East and wherever opportunities present themselves for them to hone their craft,” he said. The programme will include practical, hands-on training at the regional airline and theoretical classes conducted at the ASC’s Cedar Grove Campus. Engineers from LIAT’s Engineering and Maintenance Department will serve as tutors for the programme. Students will also benefit from on-the-job training during the second year of the programme, followed by a one-year internship at LIAT. The Aircraft Maintenance Training Programme currently has 26 students enrolled – four women and 22 men. Courtesy: Antigua Observer

BusinessFocus May / June

Robbery: Men Dressed as Women

By Brian Ramsey

n 2008, three men dressed in wigs and women’s clothing walked into the Harry Winston Boutique on Avenue Montaigne near the Champs-Elysees in Paris, pulled out hand guns and rounded up the staff and customers. In 20 minutes they stole 297 pieces of jewelry and 104 watches with an estimated value of more than €71million. In September 2013, a man wearing women’s clothing and a long black wig robbed the M&T Bank branch on West Baltimore Street, Baltimore USA. He handed the teller a note saying he had a bomb and told the teller to put the money in a black-and-white polka-dot cosmetic bag. In January 2015, a man dressed as a woman wearing a fur coat, purple slippers and makeup, went into a Wells Fargo Bank in Sheboygan, Wisconsin USA and robbed the Bank. To the average Caribbean person these sound like the stuff of movies, reminiscent of the movie Ocean’s 11. These are the kind of plot lines that have us relaxing in our seats at a movie theater or at home in front of the DVD player. Yet these were actual robberies, which fortunately in each case the robbers were eventually caught. We often think that these types of robberies can only happen in developed countries but there is an old Caribbean saying that we should always keep in mind and it says “when your neighbor’s house is on fire wet yours”. Attitudes, morals, modes of behavior are changing in the Caribbean, in some islands the changes are occurring faster than in others and individuals lament what some see as a breakdown in society. There is however one area that has not yet completely changed and that is a mode of thinking about women. To the vast majority of people women are not viewed as capable of committing violent crimes such as robbery. As a result there

BusinessFocus May / June

is a lowering of individuals’ security alertness whenever a woman enters a business place or approaches an individual. The mind of many persons automatically thinks, “it is a woman I do not have to worry’. It is that type of thinking that requires Caribbean people to begin “wetting their house”. If one looks at crime in the Caribbean there should be the realization that individuals should not relax at the appearance of a strange person if that person appears to be a woman. In 2010 two women were strolling through the market in Tunapuna Trinidad pretending to be customers. The women snatched a bag containing a large sum of money from a vendor and attempted to make their escape in a waiting car. The vendor however gave chase and raised an alarm. A female police officer who was nearby sought to intervene but the women accelerated their vehicle seeking to knock down the female police officer who then fired two shots at the car, hitting both women. In June 2014 it was reported that two women in Kingston Jamaica posing as having car problems were preying on the good nature of female motorists and robbing them when they attempted to lend assistance. Also in June 2014 a 21 year old female appeared in a San Fernando Trinidad court on a robbery charge. The young woman was identified as someone who was already on bail for previous charges including murder. The crime landscape shows that increasingly women are being directly involved in crime and not simply in nonviolent crimes such as shoplifting but also as active participants in violent crime. If therefore women are involved in violent crime it is reasonable that individuals should not relax their guard at the sight of a woman. Even more so when the

apparent woman could be a man dressed as a woman. There are those individuals who believe that they can always spot a man who is dressed as a woman. While that may have been true in the past, on many a Caribbean island there are certain streets, especially at night, where cross dressers and transgender individuals gather and a visit to any of these streets will show how difficult it now is to distinguish men who are dressed as women. As such the rule should be, be on your guard at the sight of any unknown person – male or female. As the saying goes, “when your neighbor’s house is on fire, wet yours”. Accept that anyone is capable of violent crime and you should be on guard, even at the sight of women.

Brian Ramsey has a B.A. in Accounting & Management, along with an M.B.A. in Finance and over 29 years in the Caribbean security field. He is the Regional Development Director for Amalgamated Security Services Limited which operates in Grenada, Barbados, St Lucia, Guyana and Trinidad and Tobago and is the parent company of Alternative Security Services (St. Lucia) Limited. He can be contacted at bramsey@assl.com.

‘Hosing’ Around!

t’s easy to drift into a world of surrealism when the subject of fires comes up. Fires never happen to us. Not possible. That’s left to the business down the way. Not us. While we choose to cast a blind eye when no evidence of a purported threat of a fire is present, the reality of a guileless, illinformed existence is no excuse when you are faced with a fire related incident. As all fires originate due to different sources, so would the extinguishing or suppressing medium differ and must be assessed on a case-by-case basis. Fire hose reels or racks can be life savers when extinguishers can’t be used, or to curtail the spread of a fire to nearby buildings. We have all seen a hose and most have a garden variety at home for all the DIY cleaning jobs around the house. In regard to fire fighting hoses, it is recommended to use a hose reel or rack assembly which houses a 100’ minimum hose which is normally connected to a separate water source for emergencies. What can hoses be used for? Simple. Use a hose on all Class A type fires which include wood, paper, curtains, furniture and plastic materials. As the cooling effect of the water reduce the heat dispersed as a result of the fire, it can assist with

ceasing the spread to other areas until fire service arrives, and can extinguish flames if done correctly. As hoses extend a significant way, it’s always useful to use at least two persons to handle and cautiously unravel ensuring exits aren’t blocked.

Much like the extinguisher, hoses are aimed at base of fire and water sprayed in sweeping motion. Avoid electrical and oil based fires which once water is in contact, poise new hazards which can result in death. The best thing about hoses is the distance one can remain – away from smoke and other dangers. While there are options of different types of hose reels like manual, which has to be opened at the stop valve before water can flow through the hose or automatic, where the stop valve will open automatically after two revolutions of the reel, it’s always best to seek professional assistance before making any purchase and keep your plumber close by. He will add value and save you on cost of installation. If you operate a mall, hotel, warehouse, industrial compound or related type of business, then you should look into protecting your business with fire hoses. For more information, contact your local suppliers or fire service and get informed.

Kezia Preville is the Business Development Manager at Regional Fire & Security Ltd which operates offices based in St. Lucia, Barbados and Trinidad & Tobago; the location of its parent company. She currently manages the St. Lucia office, now situated in Rodney Bay and can be contacted on info.stl@1rfsgroup.com or (758) 451-3473 for more information.

BusinessFocus May / June

invests almost EC$60 million developing properties in Saint Lucia

Sandals Resorts International continues to invest in Saint Lucia 22 years after its arrival here. The world-renowned hotel brand operates 800 luxury suites and rooms with three hotels on the island, and according to Chairman Gordon ‘Butch’ Stewart, Saint Lucia continues to be an important destination to the continued growth of the Sandals Resorts chain, remaining a favorite among thousands of returning guests to Sandals Resorts. In a recent comment on the matter, the Chairman said, “Over the years we have had enormous expansion in the configuration of our properties but generally we do not say anything.” “It has become vital for St. Lucia to know how important tourism is to us and what we have done to make the industry work here,” said the Chairman. According to the hotel tycoon, Sandals Resorts has invested over US$22 million upgrading the properties here. “We have done tremendous expansions in all of our resorts in Saint Lucia with over US$22M in the last five years being spent to achieve these upgrades,” the awardwinning hotelier said. Sandals has played a significant role in the evolution of Saint Lucia’s tourism product having invested heavily in both property development and marketing efforts of the destination over the past two decades. Sandals Regency La Toc Golf Resort & Spa, the first of the three properties in Saint Lucia invested more than US$6.786 million in the past five years having only recently undergone a major overhaul with all eight of its Piton Water’s Edge suites completing renovation. The US$950,000 upgrades boast new indoor and outdoor bathrooms complete with an exterior tub with natural wood accents and an interior glass shower, as well as new vanities, furnishing and fabrics. These secluded two-story villas also feature new furnishings and flooring, integrating the warmth and view of the ocean.

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“Saint Lucia remains close to our hearts. We came here in 1992 and it was one of the best investment decisions in the history of the company. Our team members here are among the best – a considerable number of whom have grown with us from the beginning,” the Sandals Chairman said. The property has also invested heavily in the full refurbishment of its blue suits spending a staggering US$1,568,000 on this project. But what has seen the bulk of the investment wound undoubtedly be the US$1,768,000 spent on the full upgrade of the property’s Honeymoon Hideaway suites. Regency La Toc went further to invest millions more over the past years in the upgrade of its Bluff Suites overlooking the Coubaril Bay complete with furniture, vanity, bar and soft furnishings. Its Bluff 2-Story Villas and several other sections of the property have also seen massive upgrade. A US$276,000 A/C inverter program was also undertaken at Regency La Toc was executed in keeping with the property’s green energy program. A state of the art US$160,000 solar pool heating system among other things complemented this. Dining was not left out as Regency La Toc undertook a massive US$230,000 expansion of its Japanese Restaurant Kimonos to include the Sushi Bar – Soy. The popular Pavilion Restaurant, along with the Butler Suites and Red Lane Spa have all received upgrades of almost US$200,000 combined. The new Sandals’ signature fire pits and teak chaise lounges cost the property a combined total of almost US$200,000. “There is a certain joy in watching our properties in Saint Lucia evolve. Even as we expand into other territories it is important for us to keep improving the product at the destinations that have been with us from the beginning,” the Sandals Chairman said.

At Sandals Halcyon Beach Resort, the introduction of the Soy and Kimonos Restaurant was realized in 2013. This saw the erection of new facilities and an increase in staff complement at the property. Today, Sandals Halcyon boasts four specialty restaurants. Also, in 2013, the property installed four of Sandals Resorts’ new signature fire pits scattered throughout the property’s lush foliage and surrounded by comfortably weatherproof loungers. Concierge guests have also realized an upgrade in their experience with the new and stylish Club Sandals Lounge – a place blended with remarkable amenities that completely redefine genuine hospitality and allow guests to enjoy one-on-one service and complete relaxation in comfort. This facility is available at all three Sandals properties in Saint Lucia. For Sandals Grande Saint Lucian Spa & Beach Resort, SRI has approved at least 40 major upgrades over the past five years. Sandals Grande has also invested considerably in the construction of a new warehouse with the use of Saint Lucian contractors. Considerable investments have also been made in the improvement and upgrade of staff accommodation and amenities. Added to these improvements amounting to several million United States dollars the property is poised to begin works on a major expansion in the coming months. Sandals Resorts remains committed to the growth and development of the Saint Lucian tourism product and has taken active steps in ensuring that that product receives the best and most consistent contribution. The company, which continues to be the leading economic driver in Saint Lucia, has under its employ some 1300 people across its three properties, all of who are recognized annually.

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TOURISM FOCUS

Launches Antigua-Turks and Caicos Route

Direct Flights Between Antigua & Turks and Caicos will Enhance Business and Tourism in the Islands.

or the first time, there is now a direct flight connection between the Eastern Caribbean and the Turks and Caicos Islands. British Airways has officially launched service between Antigua and Providenciales, as part of ramped up service to the Turks and Caicos Islands.

Wins “Award of Excellence” from Booking.com

he St. James’s Club Morgan Bay St. Lucia was the proud recipient of the “Award of Excellence” from Booking. com. This prestigious award is part of the Booking.com Guest Reviews, the award was presented to the resort in recognition for their dedication and care in meeting and exceeding guests expectations. The St. James’s Club Morgan Bay St. Lucia continues to demonstrate outstanding commitment to our guests in delivering consistently amazing stays.

“The rise in popularity of Antigua and Barbuda and Turks & Caicos is demonstrated by British Airways agreeing to add a direct link between our two destinations,” said Antigua and Barbuda Tourism Minister Asot Michael. “This added service means new opportunities, and choices available to us for increased business activities and closer collaboration. The end result will be greater economic growth while, simultaneously building the spirit of regional integration between our two countries.” The weekly flight operates on a Gatwick-Antigua-Providenciales route; it will fly every Sunday on a Boeing 777. Michael said the new route would allow for visa-free travel and “encourage more business and leisure travelers to island hop, from Antigua to Turks and Caicos and vice versa.” Courtesy: the Caribbean Journal staff BusinessFocus May / June

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Mr. Mark A. Grebby – General Manager of the resort along with a few team members proudly accepted this award on behalf of the resort as we continue to partner with our tour operators to deliver the best possible vacations for our guests.

St Lucia’s Resort Undergoing $12.5 Million Renovation

Smugglers Cove Hotel to Employ 1,200 Saint Lucians – PM Anthony Employment opportunities look promising to St Lucians with 1,200 jobs during construction of Smuggler’s Cove

12.5 million renovation at Rendezvous will help to invite more business to the resort. St Lucia’s Rendezvous resort has announced a $12.5 million renovation.

The changes will mean “significant interior design updates” to the resort’s Seaside Suites and Verandah Suites including new bathrooms, room layouts and furniture and colours. The renovation will also include the debut of a new beachside restaurant called Malabar. “Rendezvous caters to discerning couples looking to reconnect and spend time together without any distractions, and we continually seek ways to support them in their endeavor in such a stressful world,” said Andrew Barnard, deputy managing director at SunSwept Resort. “We are confident that this renovation will uphold our commitment to provide the best services and accommodations to our guests.” Malabar is set to debut in the fall of this year. Courtesy: By the Caribbean Journal

rime Minister and Political Leader of the Saint Lucia Labour Party (SLP), Hon. Dr. Kenny D. Anthony, has revealed that the construction of new hotel at Smugglers Cove in Cap Estate, will create 1, 200 new jobs during the construction phase. The hotel is scheduled to commence construction soon. This pronouncement was made during Dr. Anthony’s address, at the national meeting of the Saint Lucia Labour Party, on the Market Steps, Castries. He told his listeners that he knows that it has not been “easy” for them but the Government continues to tackle the unemployment problem vigorously. He outlined his Government’s employment initiatives and the number of persons who have gained employment as a result.

The Prime Minister Reported, “We said we would inject $100 million into the economy for the creation of jobs and the records are there. A total of 520 young people have already gained employment under the Cruise Ship Employment Programme. In January this year, ninety two (92) more young people secured jobs and just last week another seventeen (17) were appointed by Carnival Cruise Line Executives. This is possible only because of a programme launched by your Government. We are making loans available for our young people to undergo training.” The Prime minister said that he expects the unemployment rate to decline as new investments are made in the island in the months ahead. BusinessFocus May / June

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MAJOR MOVES

Carole Jn Marie appointed to LUCELEC board of directors

26, 2015.

Carole EleuthereJn Marie has been appointed to the Board of Directors of St Lucia Electricity Services Limited (LUCELEC) effective January

Mrs. Jn Marie is the Regional Manager – Eastern Caribbean and Barbados for First Citizens Investment Services Limited. She holds a BSc (Hons.) in Accounting from the University of the West Indies, is a Chartered Accountant by profession and a member of the Institute of Chartered Accountants of Saint Lucia and the Institute of Chartered Accountants of the Eastern Caribbean (ICAEC). She has over twenty (20) years senior management experience in Finance, ten of which were spent in the banking sector. Possessing a keen interest in working with young people, especially the underprivileged, Mrs. Jn Marie is also a member of the Rotary Club where she has served as President. Mrs Jn Marie was appointed to LUCELEC Board by First Citizens Bank Limited, which owns 20% of the shares in the local power company. She replaced Mr Larry Nath who resigned from the Board on December 4, 2014.

the past four years, including a stint as head of LIME in St. Lucia.

She previously held the position of General Manager – Group Corporate Services as well as other significant roles within the ECFH Group.

Speaking at an event organized to introduce him and other recent additions to the Sol management team, he restated Sol’s commitment to the social and economic development of Saint Lucia and the region.

In this capacity she has oversight of and serves on the Boards of all group subsidiaries including Bank of St. Vincent & the Grenadines, Bank of Saint Lucia Ltd, Bank of Saint Lucia International Ltd and ECFH Global Investment Solutions Ltd.

In his first public address Mr. McNaughton noted the strides that Sol EC Ltd had made over the past ten years. The new Sol General Manager said the rebranding which is currently taking place underlines the ongoing commitment to customers and demonstrates faith in the local economy. Mr. McNaughton says Sol has a deep understanding of the social needs of the communities it serves and this is evidenced by its investments in community development and the youth. Mr. McNaughton thanked the Sol staff for their dedication to giving customers the highest quality service and their 100 percent commitment to the Sol vision.

MRS. ESTHER B R O W N WEEKES, GROUP MANAGING DIRECTOR – ECFH

She also serves on the Boards of Eastern Caribbean Amalgamated Bank (ECAB) in Antigua, EC Global Insurance Company Limited and the St. Lucia Chamber of Commerce. She holds an MSc. In Finance and is also a Certified Director from the ICSA (Institute of Chartered Secretaries & Administrators) Directors Education and Accreditation Programme. Commenting on the appointment ECFH Chairman, Lisle Chase noted “Mrs. BrownWeekes has led the team in this capacity from December 2012, and she has taken the Group through some difficult times. We are pleased to formally make this announcement.”

MS. JOANNA C H A R L E S , G E N E R A L MANAGER – C O R P O R AT E SERVICES – ECFH

Lawrence McNaughton - General Manager Sol EC Ltd.

The East Caribbean Financial Holding C o m p a n y Limited (ECFH) Board of Directors has announced appointment of Mrs. Esther BrownWeekes to the post of Group Managing Director.

Joanna Charles assumed the position of GM Corporate Services ECFH with executive responsibility for Marketing, Information Technology, Property Management and Administration, the ECFH Global Investment Solutions subsidiary and the EC Global Insurance Agency.

The new General Manager of Sol EC Ltd is Mr. Lawrence McNaughton. The new SOL EC Ltd General Manager is no stranger to St. Lucia having lived and worked here for

Mrs. Brown-Weekes’ experience spans several years in the financial services sector in the areas of Financial Management, Risk Management and Strategic Management.

Ms. Charles is a career banker, with over 28 years in the industry. She previously held the position of Assistant General Manager of the Bank of Saint Lucia Ltd and also had

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MAJOR MOVES a one-year stint as the Manager Human Resources within ECFH. She spent a year with the Bank of Antigua in the position of General Manager, with the objective of successfully transitioning the entity to the Eastern Caribbean Amalgamated Bank and subsequently served on the Board of Directors.

Management. He also has a Masters Degree in Business Management from the University of Durham, UK.

Ms. Charles is currently the Chairperson of the Caribbean Association of Banks and Chairperson of the Caribbean Credit Card Corporation. She has also served on the East Caribbean Bankers Association and the Bankers Association of St. Lucia.

Brazil Appoints a new Ambassador to the Organization of Eastern Caribbean States.

She is an Associate of the Chartered Institute of Bankers (ACIB) UK, and holds a BSC Banking and Financial Services from the University of Manchester and MBA Finance from Manchester Business School, UK. Didacus Jules. MR. BALDWIN TAYLOR, SENIOR MANAGER – RETAIL BANKING – BOSL Bank of Saint Lucia, banking subsidiary of the East Caribbean Financial Holding Company Limited (ECFH) has appointed Baldwin Taylor as Senior Manager, Retail Banking. Mr. Taylor has been with the ECFH Group and its predecessor institution, National Commercial Bank of Saint Lucia Limited for over 20 years. At the Group level, he has held a number of positions including Senior Manager – Customer Insight Unit, Marketing Manager and Manager - Product Development, Public Relations and Brand Management. At Bank of Saint Lucia, he served as Manager of both the Waterfront and Soufriere Branches. In the new position of Senior Manager – Retail Banking, Mr. Taylor has the responsibility for sales and service at the Bank’s five (5) branches.

Ambassador Sergio Couri recently presented his credentials to OECS Director General Dr

Couri said his country planned to explore new methods to strengthen cooperation with the region, including the establishment of a joint cooperation agreement with the six independent member states of the OECS. The primary objective of that agreement would be “the enhancement of the productive capacity and output of the countries of the OECS region,” according to an OECS statement. Brazil first signed a technical cooperation agreement with the OECS in 2006, which was included as a help in the fight against HIV/AIDS in the region. “Brazil has been a most reliable and generous partner and has provided assistance beyond the scope of its commitments under the Agreement,” Dr Jules said. Cuba Appoints New Ambassador to the OECS

Cuba has a new Ambassador to the Organisation of Eastern Caribbean States: Jorge Soberon. The new envoy presented his credentials to OECS Director General Dr. Didacus Jules recently in a ceremony at the OECS Commission. While the OECS’ relationship with Cuba is relatively new, Jules said it was a “strong relationship,” pointing to cooperation in areas from agriculture and the environment to sports development and healthcare. “Cuba has been a pioneer and principal flag bearer for the notions and principles of internationalism and internationalist duty,” Jules said. “Never has a country so small given so much to the world – whether in the blood of its people, or in their skills and expertise in support of the development of others.” Soberon said Cuba and the Eastern Caribbean should “pool efforts” to enhance quality of life and sustainable development in the region. He also announced that Cuba had taken the decision to offer market access at zerotariff for a number of products originating from the OECS and the wider region. Cuba and the OECS are now working on a memorandum of understanding for new areas of cooperation, the two sides said.

Baldwin is a graduate of Saint Mary’s University with a Bachelor of Commerce Degree in Marketing and Human Resource BusinessFocus May / June

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events 2015

CARILEC CEOs and Finance Conference May 17-20, 2015, Barcelo Bavaro Beach Resort, Punta Cana, Dominican Republic This event provides CEOs with an opportunity to further examine means to foster deeper integration amongst members, analyzing the benefits of sharing knowledge, shared resources, and the collective strengthen of their bargaining power. It also provides a forum for networking with associate vendor companies. For further info: www.carilec.com

Caribbean Fashion Week June 6-15, 2015, National Indoor Sports Centre, Kingston, Jamaica Established by Pulse Investments Ltd. 2001, Caribbean Fashion Week is the region’s largest, best produced, most recognized and internationally respected fashion event. The event features the Caribbean’s best designers, world famous supermodels & celebrities, important fashion press from around the world as well as local, regional and international fashion buyers. For further info: http://caribbeanfashionweek.com

Taste of the Caribbean June 12-14, 2015, Hyatt Regency, Miami, Florida Organized by the CHTA, this Caribbean food and beverage event and competition is not to be missed. Use the opportunity to network, polish professional skills and cheer on colleagues in competition, before a large audience of industry peers and consumer culinary enthusiasts. The event also provides education and inspiration through seminars, workshops, tastings and demonstrations, created to enhance performance, style and profitability in food and beverage operations. For further info: www.caribbeanhotelandtourism.com

Trade & Investment Convention (TIC) July 8- 11, 2015, Centre of Excellence, Macoya, Trinidad Hosted by the Trinidad & Tobago Manufacture’s Association, (TTMA), the Trade and Investment Convention is the region’s biggest business-to-business event, bringing together manufacturers, service providers, exporters, buyers, distributors, wholesalers and investors at a unique forum. For further info: www.tic-tt.com

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NEW COMPANY REGISTRATIONS COMPANY

NATURE OF BUSINESS

DIRECTORS

Beauty Max Inc.

To Carry on the Business of the Sale of Hair, Nail and General Beauty Supplies in Saint Lucia

Anan Bashiti

Body Balance Physio & Fitness Inc. INSYNC Physion & Fitness Inc.

•

Ferhn Henry

• •

Physio Therapy Services in all its Forms. Fitness – Personal Training & Body Building Exercise. Sauna and Massage Therapy

Bostwick Global Ltd.

Gaming, Lottery, Information Technology, Tourism, Mining, Manufacturing, Wholesaling, Retailing, Agriculture, Farming, Constructions, Electronics, Transportation Equipment and all Related Businesses and Services.

Jonathan Martin Calderon Paula Martin Calderon Marlon Bostwick

Capital Motors Ltd.

Automobile Dealership in Automobile Import, Sales, Parts and Service Support

Peron Schouten

Christian Marie Holdings Inc.

Property Holding

Thomas R.H. Theobalds Cleopatra Altenor-Theobalds

Cobblestone Ltd.

Property Holding Company

Antonio Mars Chreiki Natasha Chreiki

Comprehensive Holdings Ltd.

Real Estate and any Other Ventures

Francis Pierre, Pamphile Wally Michael Chris Mathius, Rojer Joseph Inglis

E.A. Rolling Stone Services Ltd.

Trucking, Retail of Raw Material (Construction Services)

Elias Alfred, Waveney C. Alfred

East Caribbean Investments Ltd.

Investments

Frank V. Myers, Brian A. Glasgow, Reuben M. John

Euromoney Transfer Corp.

Money Services

Andre Joaquim Da Silva Rebeka Denyse De Oliveira Jaykosz Cleyse Daniela Oliveira Jaykosz De Menezes

Factory Direct Holdings Inc.

To Carry on the Business of Holding Company

Ravi Benjamin, Ubaidullah Muhammad Zaid Rahaman

Free Lions Incorporated

Agriculture /Aquaculture

Martin Isidore , Steven Charles

Front Light Advertising (St Lucia) Ltd.

Construction / Advertising

Carlos E. Hernandez-Ballesteros

Glo-Mart Inc.

Retail and Wholesale of School / Office Supplies and Other Items

Gloria Atingah, Vitalia Edwin

Innovative Contractors Ltd.

Planning Sales, Marketing and Operations. Glenn Owen Alphonse

Izzy Images Inc.

To Carry on the Business of Photography and Videography

Isabelle Sankar

J & S construction Ltd.

Providing Constructions Services

Sheena Phillip, Junior Phillip

La Capitte Ltd.

Property Holding Company

Pierre Andre Gattlen, Albert Christer Arnback

Marigot Marina Development Ltd. Marigot Bay Marina Development Ltd. CDF Marina Development Ltd.

To Develop a Marina on the North Side of Marigot Bay

John Verity, Sam Verity, Alex Fuller

Moringa St.Lucia Products Ltd.

Growing of Spices, Aromatic, Drug and Pharmaceutical Crops

Milan Bartos, Jarka Bartos

OB Precast & Concrete Ltd.

Construction Company

Owen Bradley Sadoo

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NEW COMPANY REGISTRATIONS COMPANY

NATURE OF BUSINESS

DIRECTORS

Pajoh’s Ltd.

Boat Provisioning, Housing Development and Car Rentals

Davis Johannes, Kienan Johannes

Prokleen Ltd.

Cleaning Services

Richard Gallimore, Maria Desir, Vernel Flavien

RETEP Construction and Building Supplies (Saint Lucia) Ltd.

General Building Construction and Design and all Related Services

Peter Basil Eugene

Salty Bits Inc.

A Holding Company

Ross John Francis Gardner, Deone Hayley Gardner

Savvy Caribbean Marketing Ltd.

Marketing & Advertising Agency

Keisha Asha Yolande Vigilante-Pini

St. Lucia Society for the Deaf Inc.

Non-Profit Organisation – Provision of Linda Preville, Cynthia Weekes, Graham King Special Education and Support Services to Virginia Venesta Menal, Sherma Gabriel the Hearing Impaired and Other Shanel Chedy Challenged Children and Adults

Techmedics Inc.

Providing Health Education

Dr. George Joseph, Gloria Atingah, Navami Guru

Temple Corporate Services Ltd.

Corporate Services

Henry Joseph

The Vineyard Entertainment Inc.

To Engage in Music Promotion, Production and Distribution

Mustaphar M. Felicien, Kishma Louis Kirk Peter, Johnathan J. Fulgence

TLC St. Lucia GSA Inc.

To Carry on the Business of Travel Agency Travel & Leisure Centre (TLC) Inc.

Verge Communications (St. Lucia) Ltd.

Telecommunication Services and Consultancy

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Thomas R.H. Theobalds

Digicel Eye allows you to monitor your property at anytime and anywhere. View live and recorded video that is safely stored in the cloud from your laptop, tablet or smartphone. Contact Digicel Business today at: 1-(758) -724-6001 Or digicelbusinessslu@digicelgroup.com