Express Business Filler #1

STATE-OWNED National Gas Company (NGC) yesterday reported group profit after tax of $2.327 billion for 2018, which represents an increase of $1.338 billion or 135 per cent above the 2017 profit after tax figure of $989 million.

In one of his last official acts as the chairman of T&T’s largest indigenous company, business executive Gerry Brooks attributed the group’s improved profitability “to the ongoing execution of the strategic plan to re-engineer the business to drive new levels of productivity, improvements in commodity prices and partial settlement of the Investment Note Certificates that the company held in the CLICO Investment Bank”.

Get caught up with news from the news leader
Subscribe now and get access to the Trinidad Express E-paper
SUBSCRIBE/ LOG IN

NGC announced that Brooks was resigning as the chair­man of the holding company and all of the group companies on which he served as either chairman of director. He also resigned from all State com­pa­ny boards on which he served. All the res­ig­na­tions became ef­fec­tive on June 30, 2019.

Brooks signed off on the 2018 consolidated financial statements on June 30, his last official day in the job.

RECOMMENDED FOR YOU

THIS week, we at Bourse highlight the importance of investing in securing your financial future. We consider three investor profiles – the conservative, moderate and aggressive investor - and offer some guidance for persons seeking to position their portfolios for the remainder of 2019.

LAST WEEK, on July 9, 2019, S&P Global Ratings lowered its long-term foreign and local currency sovereign credit ratings on the Republic of Trinidad and Tobago to ‘BBB’ from ‘BBB+’.

The trade union representing aviation workers is complaining about the lack of recognition of the Aviation, Communication and Allied Workers Union (ACAWU) and the non-payment of outstanding monies owed to employees of Caribbean Airlines Ltd (CAL) amounting to about $37,590 for the period January 1, 2007 to December 31, 2018.

Maintenance technicians had to move swiftly to drain super gasoline from several diesel-run vehicles on Wednesday afternoon, due to a fuel mix-up at NP’s service station just before the Starlite Shopping Plaza in Diego Martin.