Last update: 11-Dec-2013 6:16 am
Wednesday, December 11, 2013
Trinidad & Tobago Guardian Online
You are here
NEL chairman: Home Mortgage Bank, First Citizens are ‘attractive investments’
Fresh on the heels of National Enterprises Ltd (NEL) celebrating the disbursement of $4 billion in dividends in the last decade, its chairman Kenny Lue Chee Lip signalled its intention to invest in First Citizens and Home Mortgage Bank.
NEL is a holding company created to hold the State’s shares in five profitable companies: National Flour Mills, NGC NGL, which is a holding company with a 51 per cent stake in Phoenix Park Gas Processors Ltd (PPGPL), NGC LNG, which is a holding company that owns ten per cent of Atlantic’s Train 1, TSTT, and Trinidad Nitrogen Company Ltd. It was incorporated on August 27, 1999.
In August, 2013 the National Gas Company (NGC) acquired an additional 39 per cent stake in Phoenix Park Gas Processors Ltd from US energy plant ConocoPhillips.
The company was established under the then Finance Minister Brian Kuei Tung to allow T&T individuals and institutions to own shares in local companies in which the State has an ownership interest.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff. Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Please help us keep out site clean from inappropriate comments by using the flag option.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments. Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.