分类： business

Agostini Group’s Chief Financial Officer (CFO), Nigel Campbell, is poised to resign from his position by the end of this year, as disclosed in a recent notice to the Trinidad and Tobago Stock Exchange. Company Secretary Nadia James-Reyes Tineo confirmed Campbell’s departure, effective December 31, in a statement issued on November 24. While the notice did not specify a successor, it expressed gratitude for Campbell’s significant contributions to the group during his tenure as head of the finance function and as a key member of the executive team. Campbell, who assumed the CFO role on February 1, 2024, succeeding Barry Davis after his promotion to CEO, brought over three decades of financial expertise from his previous role at an energy company. His resignation coincides with Agostini’s ongoing efforts to merge with Prestige Holdings. The company recently announced its fifth extension of the share-swap offer deadline to January 20, pending regulatory approvals, including a merger application currently under review by the TT Fair Trade Commission. Under the proposed terms, shareholders are offered one Agostini share for every 4.8 Prestige shares. Agostini has committed to acquiring and paying for all shares deposited and not withdrawn within the legally mandated timeframe. The offer, initially set to close on July 20, has seen multiple extensions, reflecting the complexities of the merger process. Despite achieving the minimum target shareholding required for the merger in September, Agostini has continued to extend the deadline to navigate regulatory hurdles and ensure a smooth transition.

The government’s recent decision to extend the import age limit for used vehicles from three to eight years has sparked significant debate. While the move is framed as a benefit to average citizens by potentially lowering vehicle ownership costs, it carries notable social and economic implications. Visham Babwah, president of the TT Automotive Dealers Association (TTADA), has voiced concerns, citing risks associated with importing older vehicles. These vehicles, often past half their expected lifespan, may face challenges in securing loans or comprehensive insurance. Additionally, the influx of older, cheaper cars could exacerbate traffic congestion, with over 1.1 million registered vehicles already on the roads as of September 2024. The lack of clarity on how the policy affects electric vehicles further complicates the issue. Critics argue that without stringent inspection and verification processes, the policy risks flooding the streets with potentially unsafe vehicles. The used car market, which accounts for roughly a third of total car sales, remains a competitive sector, but the extended warranty period of only three months or 3,000 kilometers offers limited protection to buyers. The government must balance this policy with robust oversight to ensure road safety and consumer protection.

The Unit Trust Corporation (UTC) is celebrating the impending maturity of its Calypso Macro Index Fund (CMIF), set for November 30, marking a significant achievement for the organization. Executive Director Nigel Edwards, in a statement on November 24, described the event as ‘a landmark moment for the UTC,’ highlighting the fund’s success in delivering robust returns to its 2,025 unitholders since its inception in 2016.

The Calypso Fund was designed to offer local investors access to a diversified portfolio of local equities and international energy stocks, capitalizing on key economic drivers. Its performance has been stellar, growing from an initial value of $500 million to $569.42 million by 2024, representing a 13.9% increase. Over the past decade, the fund has distributed approximately $128 million in dividends, with per-unit payouts rising by 5%, from 80 cents in 2023 to 84 cents in 2024.

Edwards emphasized that the fund’s success underscores UTC’s commitment to democratizing investment and delivering tangible value to its stakeholders. ‘The Calypso Fund’s performance serves as a testament to both our strategic foresight and the efficacy of our stewardship,’ he said.

The fund’s maturity aligns with UTC’s overall strong financial performance in 2024, which saw total investment income reach $1.045 billion, with distributions to unitholders increasing by over 60%. Looking ahead, UTC has assured its investors of a seamless transition and continued access to innovative, growth-oriented investment solutions.

Zelisa Boodoosingh Rupani, the founder of ZM Network Ltd and the driving force behind RealTV and the acclaimed talk show ‘Conversations with Zelisa,’ has carved a remarkable path in the media industry. As the sole female media house owner in Trinidad and Tobago and the first woman of Indian descent to achieve this feat, Rupani’s journey is a testament to resilience and determination. Born in Santa Cruz and raised in a business-oriented family, she credits her parents and grandmother for instilling in her the values of hard work and perseverance. Her educational journey took her to the University of Sydney, where she pursued a degree in import-export management, followed by stints in the US and Canada before returning to Trinidad over two decades ago. A pivotal moment came when a short broadcasting course, encouraged by her sister, set her on an unexpected career trajectory. Starting with a midnight shift at Radio Shakti, Rupani quickly rose through the ranks, working with industry legends and honing her skills as a host and producer. Her career spans notable roles at Radio and TV Jaagriti, Government Information Services Ltd, and Synergy TV, among others. A scholarship to study mass communications in India further enriched her expertise. Despite personal tragedies, including the loss of her husband, Rupani emerged stronger, founding ZM Network and launching RealTV, which has grown into a multi-platform media powerhouse. Her show, ‘Conversations with Zelisa,’ is celebrated for its focus on inspiring real-life stories, respect, and empathy. Balancing her roles as a producer, presenter, businesswoman, and single mother, Rupani emphasizes discipline, faith, and time management. With plans to expand her media brand regionally and internationally, she remains committed to empowering others and imparting knowledge. Her message to aspiring entrepreneurs, especially women, is clear: persevere, set high standards, and never compromise on integrity.