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NEL chair promises better future earnings

Thursday, July 31, 2014
Kenny Lue Chee Lip, chairman of National Enterprises Limited (NEL)

Despite a 62 per cent decrease in the earnings per share in its consolidated financial statements for the period ending March 31 2014, National Enterprises Limited (NEL) is poised for growth, said chairman Kenny Lue Chee Lip. 

Asked to elaborate on how much growth is anticipated, he said: “There are three or four investment opportunities we are looking at of varying magnitude. From $700 million to over $1 billion in possible investment. But it depends on which ones actually pan out. We have no fixed percentage growth. We may just be buying equities in the stock exchange.”

He is not ruling out investment outside of T&T, but he could not confirm.

Lue Chee Lip said the decrease in the investment holding company’s earnings per share for the financial year ending March 31, 2014 was due to Telecommunication Services of T&T (TSTT) provision for VSEP and lower dividend receipts from Tringen and NGC LNG. 

In its publication of summary results last week, the company reported EPS collapsed from $0.85 to $0.32.