Following is the full statement released by former Prime Minister Patrick Manning announcing his decision to decline the nomination for the Order of the Republic:...
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ANSA McAL combines expo with AGM
ANSA McAL, the parent group of Guardian Media Ltd, will combine its July 5 annual meeting (AGM) with an exposition featuring all member companies at the Hyatt Regency in Port-of-Spain, group chairman Norman Sabga said yesterday at ANSA Merchant Bank’s annual meeting at Tatil building in Maraval. Shareholders of ANSA McAL member companies will be able to seal special deals, discounts and offers, ANSA Merchant Bank deputy chairman Ray Sumairsingh added.
“It’s not offers on that day only. We will be giving offers to shareholders which would not be available to any other customer within the group. As owners of the group, we will be making offers to our shareholders that you will be able to exercise at some period during the year,” Sabga said.
The group chairman added: “We’re not expecting you to transact business on that day but to get the offers, whether it’s offers from Tatil or ANSA Merchant Bank or Penta Paints or Bestcrete or Abel or the Guardian or Standard Distributors. What we want you to do is to come and get to know your group, understand your investment and what makes up this investment, and as owners, we will offer you deals that will be available to no one else but owners. It’s going to be a special day that we are going to share with our owners.”
In the absence of substantive ANSA Merchant Bank chairman Dr Anthony Sabga, Sumairsingh chaired the meeting which re-elected Dr Sabga, Sumairsingh, Chip Sa Gomes, Timothy Hamel-Smith (who is also president of the Senate), Jeremy Matouk, Nicholas Owen, Ian Welch and Judy Chang. The annual meeting also elected Norman Sabga and Alan Sadler as new directors.
“In 2013, a very strong consolidated performance was delivered across all business lines in ANSA Merchant Bank and its insurance subsidiaries with substantial improvements in profitability and robust balance sheet growth evident over the prior year,” Dr Sabga said in his written report inside the bank’s 2013 annual report. ANSA Merchant Bank posted a net profit of $266 million in 2013, an 80 per cent increase over 2012’s $148 million. Total assets increased in 2013 by ten per cent to $6.1 billion.
Dr Sabga’s report said: “Asset finance continues to be a key driver of our banking business. Having introduced ‘In One’ ten years ago, it remains unmatched in delivering the best overall customer experience for vehicle acquisition.
“Though there have been attempts, none of our competitors have been successful in duplicating the main value drivers of the ‘In One’ product. New business volumes in 2013 increased on average by 32 per cent over the prior year, while maintaining our delinquency in the portfolio below one per cent, which is best in market.”