The $356 million debt still owed to the Telecommunication Services of Trinidad and Tobago (TSTT) by the Ministry of National Security has delayed the company's financial reports for more than three months.
The delay also created a financial ripple effect for TSTT's holding company, the National Enterprises Ltd (NEL) as it to was unable to complete its financial report because of the missing TSTT documents.
The TSTT was supposed to produce its completed audited statements by June 29 but it was only completed on September 9 and is "to be forwarded to shareholders shortly."
In a statement to its shareholders, the NEL said that "owing to the delay in the completion of our Audited Financial Statements for the fiscal year ended March 31, 2019, as a result of issues outside of our control, we have been unable to publish the unaudited financial statements for the first quarter ended June 30, 2019."
The NEL chairman Ingrid Lashley on Thursday confirmed that the TSTT report was not yet complete but expected it "any time now."
"One investee company has been late in submitting its financials. That investee company is TSTT," Lashley said.
Lashley added that the TSTT financials have since been "signed off" but she has not received it yet.
Last November it was reported that the Ministry of National Security owed TSTT some $356 million for a CCTV contract.
By February, Public Utilities Minister Robert Le Hunte denied that the debt was negatively affecting the company. Le Hunte told Parliament then that the exact amount has not yet been established.
Back in January, TSTT was providing CCTV services to the National Security Ministry under a contract established by the former administration however, National Security Minister Stuart Young said then, that he intended to end the contract because the cost was too high.
At a Standing Finance Committee meeting in January, Young pegged the figures at between $11,000 and $14,000 per camera each month.
TSTT chairman Robert Mayers and TSTT's Chief Executive Officer Dr Ronald Walcott did not respond to calls or messages.
The NEL has holdings in National Flour Mills, National Gas Company, Tringen as well as TSTT.
This is not the only delayed TSTT audit.
Since January, Minister of Public Utilities called for a "re-examination" of two audits previously completed by TSTT after a Guardian Media investigation found that questions were raised about mispending and preferential treatment granted to a single supplier.
In June, Le Hunte said he expected the report to be completed within the month but that has not happened.
At that time, Mayers said that PricewaterhouseCoopers (PwC) requested additional information which was subsequently provided.
One month later, Guardian Media attempted to contact TSTT's Walcott but he did not respond to calls or whatsapp since July. Several emails were also sent to two members of TSTT communications team with no response.