Fifi hails good HCL projects
Former managing director of Home Construction Ltd (HCL), Anthony Fifi, said yesterday everyone keeps focussing on the shortcomings of the One Woodbrook Place project but not on the fact that the group was able to transform the Trincity area.
"In this enquiry, everybody seems to focus on OWP (One Woodbrook Place). There is also again a tremendously valuable development to transform the eastern area of our capital region called the Trincity Millennium vision," Fifi said .
Fifi made the statement as he testified at the commission of enquiry into the collapse of CL Financial and the Hindu Credit Union (HCU) being held at the Winsure Building, Richmond Street, Port of Spain.
HCL's vision for the transformation of the Trincity area included the creation of Holiday Inn Express and Millennium Lakes Golf and Country Club among others, Fifi said.
The transformation of Trincity Mall, which was included as one of HCL's subsidiaries, also aided in the area getting a face-lift, Fifi said.
Fifi said that he was "shocked" to find out about the controversial sale of Clico Energy.
Fifi said he found out about the sale during a telephone conversation with former chief financial officer of CL Financial, Michael Carballo, and Roger Duprey on February 15, 2009.
CLICO Energy was sold to Proman on February 4, 2009, just three days after the then-People's National Movement (PNM) government signed a Memorandum of Agreement with former chairman Lawrence Duprey on January 30 to provide an initial $5 billion to rescue CLICO, Clico Investment Bank and other financially troubled subsidiaries.