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EFFECTIC DESIGNS wrote:Yes GATE has reached the point where it is the number 1 problem in this country and nobody eh saying a word about it. Cause PNM invent it and UNC boosting what PNM invent.
So everybody quiet while tax dollars wasting. If Rowley come out tomorrow and talk about this it would mean he is a truly genuine man but if he did that, bet yuh bottom dollar he eh even standing a chance of winning this election.
So we will never ever know if Rowley is that one true man who could fix Trinidad.
RASC wrote:Sept 8th we will buddy. Don't worry. Days numbered. Make sure yuh Canadian visa warm up
EFFECTIC DESIGNS wrote:RASC wrote:Sept 8th we will buddy. Don't worry. Days numbered. Make sure yuh Canadian visa warm up
Should I be worried about Dr Rowley winning?
Is he going to target me? and in what ways?
I am seeing a lot of comments like this about Rowley the "warlord" whatever that means. Ok just to be safe its best citizens continue as they are with supporting the PPG and do not vote for Rowley
next thing he really make we warm up ah Visa like certain leaders. You never know what those threats actually mean better safe than sorry. LOL no wonder Rowley has so little support.
EFFECTIC DESIGNS wrote:^ nah the real problem with it is people are getting a bunch of degrees and doing the exact same Job that normally only requires CXC O levels or A levels which costs a fraction. And employers asking for degrees for the very same Job which once required CXC and which simply does not require a degree putting a strain on tax payers for no good reason.
Why does a clerk even need a masters degree to do a $4000 a month job. There are too much degrees its now devalued. Another major issue with it is all the useless degrees being offered and parents sending their child to do these completely useless degrees just so they can say my chile going university and he or she doing ah "degree"
You have "Carnival Degrees" which are glorified trade certificates now costing $50,000 TT.
GATE program is extremely flawed. And those who do Medicine and Engineering etc riding out first chance they get. Not contributing to the country and 2 years is too little to contribute.
eliteauto wrote:The problem is a devalued degree or an unwillingness to be entrepreneurial? What systems are there in place to engender entrepreneurship that are free of nepotism, corruption and classism?
eliteauto wrote:I have no wish list, I'm a realist, my experiences have taught me to trust no one and expect nothing. I believe there are less persons who truly love this country and more persons who are in it for what they can get.
eliteauto wrote:I have no wish list, I'm a realist, my experiences have taught me to trust no one and expect nothing. I believe there are less persons who truly love this country and more persons who are in it for what they can get.
zoom rader wrote:eliteauto wrote:I have no wish list, I'm a realist, my experiences have taught me to trust no one and expect nothing. I believe there are less persons who truly love this country and more persons who are in it for what they can get.
Probably the best statement you ever made. That sums up most Trinis, a nasty bunch of people that can't trusted.
RASC wrote:zoom rader wrote:eliteauto wrote:I have no wish list, I'm a realist, my experiences have taught me to trust no one and expect nothing. I believe there are less persons who truly love this country and more persons who are in it for what they can get.
Probably the best statement you ever made. That sums up most Trinis, a nasty bunch of people that can't trusted.
I've never really heard you praising the people or this country... Would you prefer to live elsewhere?
They talk about UNC financiers. You ever hear anything about a PNM financier? They have none, if you believe them. Everything that happens in this country they scream, cry and again, weeping, wailing and gnashing of teeth – UNC financier, UNC financier.
I want to tell you today – I have NO financiers! Not one single financier. None. None. And that is why Dr Suruj Rambachan has been mandated with others in the Executive of the party, that we will conduct a raffle.. The first prize will be a car, second prize furniture – a full set of bedroom furniture. Third prize – kitchen. And guess what, you can win that car because the cost of the ticket is only 10 dollars.
http://unctt.org/pm-kamla-speech-unc-mo ... go-martin/
Kamla pledges to declare financiers
By Andre Bagoo Thursday, July 23 2015
PRIME Minister Kamla Persad-Bissessar yesterday pledged to reveal the campaign finances of her party immediately after the September 7 general election if all other parties also agree to subject themselves to such measures pending the full implementation of any campaign finance reform legislation.
http://www.newsday.co.tt/news/0,214532.html
zoom rader wrote:RASC wrote:zoom rader wrote:eliteauto wrote:I have no wish list, I'm a realist, my experiences have taught me to trust no one and expect nothing. I believe there are less persons who truly love this country and more persons who are in it for what they can get.
Probably the best statement you ever made. That sums up most Trinis, a nasty bunch of people that can't trusted.
I've never really heard you praising the people or this country... Would you prefer to live elsewhere?
I praise UNC / PP Ppl everyday bro.
UML wrote:TODAY is the LAST DAY to get your name registered to vote.
Dont forget to check the electoral list and get your name registered if you have to.
Poll cards have already started to be delivered.
-minded.Habit7 wrote:They talk about UNC financiers. You ever hear anything about a PNM financier? They have none, if you believe them. Everything that happens in this country they scream, cry and again, weeping, wailing and gnashing of teeth – UNC financier, UNC financier.
I want to tell you today – I have NO financiers! Not one single financier. None. None. And that is why Dr Suruj Rambachan has been mandated with others in the Executive of the party, that we will conduct a raffle.. The first prize will be a car, second prize furniture – a full set of bedroom furniture. Third prize – kitchen. And guess what, you can win that car because the cost of the ticket is only 10 dollars.
http://unctt.org/pm-kamla-speech-unc-mo ... go-martin/Kamla pledges to declare financiers
By Andre Bagoo Thursday, July 23 2015
PRIME Minister Kamla Persad-Bissessar yesterday pledged to reveal the campaign finances of her party immediately after the September 7 general election if all other parties also agree to subject themselves to such measures pending the full implementation of any campaign finance reform legislation.
http://www.newsday.co.tt/news/0,214532.html
Why Kamla had to lie before so?
UML wrote:UML wrote:FATHER of all LIES!
ROWLEY said this election would be the MOTHER of all LIES!
I want to correct that, it is the "FATHER of all LIES!" And Here are some of his LIES!
1. He claims he has 2 daughters officially leaving out his 1st born son Garth Alleyne!
2. Lied on Manning and Calder Hart and brought down his own PNM government.
3. Took fake emails to the parliament to bring down current government!
4. Lied on the President on appointment of new Integrity Commission members, he would later apologise!
5. Lied about the elections writs for the EBC!
6. Lied about his ownership of an apartment at One Woodbrook Place.
7. Lied about Landate where material from the Tobago Hospital was stolen and siphoned to his private project!!
8. He lied about Las Alturas housing scandal saying he wasn't the line Minister!!
9. LIED about the speaker not approving a question, Parliament records shows the question was approved and answered.
10. Lied about the former AG Anand Ramlogan being at the US mission in New York
11. Waved a Pizza delivery slip in parliament as evidence of the PM receiving files from the SSA.
12. LIED about giving the President a petition with 25,000 signatures.
13. Lied about Lennox Grant being the general secretary of Tapia.
14. He said that it was the PNM which put in freedom of the press as a constitutional right. History, however, records that that initiative was taken by Lionel Seukeran, Tajmool Hosein and Rudranath Capildeo in the Marlborough House consultation in 1962.
15. LIED about discussing the President housing allowance during a meeting of the Public Accounts Committee (PAC)
16. Said a new government coming into office will face a lawsuit from Sural for stopping the smelter plant, when in fact the current government already won the Arbitration over Sural for stopping the smelter plant.
You hear lie?
That is LIE!!!
Habit7 wrote:The irony is lost on you when I show that Kamla lies at her Monday night forum and you reply with a quote from her Monday night forum and an invitation to listen to the next one
There is a difference in making a pronouncement on an issue and a further development shows otherwise. Kamla made her statement emphatically to deceive the simple minded. But then in a forum where she knows that rubbish couldn't fly, she said what they wanted to hear.
Why didn't Kamla tell the JCC what she told her minions at Diego Martin Monday night forum, "I have NO financiers! Not one single financier. None. None."?
UML wrote:Habit7 wrote:Caroni went buss when the private sector ran it as Tate & Lyle. The PNM not wanting to see thousands on the breadline with nothing to get, saved Caroni and gave it a chance. Since 1975, Caroni 1975 Ltd failed to make the profit that eluded them prior to 1975. The workers then received the best separation package of any ordinary worker in this country.zoom rader wrote:Habit7 wrote:Good.zoom rader wrote:Let private investors build it. Government need to stay away from building and running a business
That is why Caroni had to be closed down. For those who think they could produce and market sugar, let them do it privately.
Caroni went buss the moment the PNM brought it and it forever went downhill.
Again PNM ppl cant run a business .
If you think PNM cant manage business then tell the govt to return the profits from NGC, Petrotrin, NP, FCB, TSTT, Unit Trust and many others which are the mainstay of the economy.
Petrotrin was making profit under the PNM?
with personal dialysis machine? World GTL? Gas Optimisation Project? New Administration Building?
As fas as i remember Petrotrin was making losses with high oil prices.
Petrotrin only NOW making profits and paying out debts they have with the unfinished projects listed above
Petrotrin improves half-year performance
Published:
Thursday, July 23, 2015
In spite of low oil prices, Petrotrin is reporting improvements to its performance for the third quarter for the fiscal period 2014-2015. In a release, Petrotrin said financial statements for the nine-month period ending June 30 2015 recorded a contribution of approximately TT$2.5 billion to its shareholder, the government, in the form of taxes and benefits.
Direct taxes and fees amounted to TT$1.3 billion, while indirect taxes and benefits were placed at TT$1.2 billion. Petrotrin did indicate at the end of the second quarter, that despite a continuing adverse commercial environment, the company was on course with its mission to maximise its long-term value and return on its assets.
Petrotrin’s president Khalid Hassanali said he was encouraged as the company is in the process of putting in place measures to ensure adequate access to capital in the coming years to meet its obligations and fund expanded drilling. He commended management and employees for achievements to date and renewed the call for a commitment to excellence and productivity across the board to ensure that the company is positioned for profitable operations in the future.
In the release, Petrotrin said, “As global oil prices trended downwards, reflecting a nearly 50 per cent decline since the same period last year, Petrotrin’s board and management drove the implementation of strategic decisions streamlining operations so that the company would remain sustainable and profitable in an expected low oil price scenario.”
It said these directions included prudent budget management, measures to improve refinery margins and noted successful efforts to stabilize the decline in production. “The company was able to continue its substantial contributions to the national economy, despite recording an accounting loss for the period. This third-quarter accounting loss is largely due to the crude oil and refined product inventory valuation write downs of approximately TT$1.4 billion consequent upon the fall in oil prices.”
Senior Analyst on Oppenheimer’s Emerging Market’s Trading Desk Omar Zeolla, commenting on Petrotrin’s operations, said, “While results for the first nine months of the 2015 fiscal year ending June 2015 are still being affected by the weak performance of the first quarter of the fiscal year, the last two quarters have shown a return to financial performance similar to previous years. EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) margins are back to the 11 per cent to 12 per cent range and free cash flow has been positive for the last two quarters.”
http://www.guardian.co.tt/business/2015 ... erformance
Habit7 wrote:UML wrote:
Petrotrin was making profit under the PNM?
with personal dialysis machine? World GTL? Gas Optimisation Project? New Administration Building?
As fas as i remember Petrotrin was making losses with high oil prices.
Petrotrin only NOW making profits and paying out debts they have with the unfinished projects listed above
Petrotrin was making superb profits and choose to reinvest them into the company which in this case didnt work out too well. But NGC also made superb profits that were reinvested into the company hence it enjoys record profits now.
Petrotrin then:Petrotrin gorging on profits
Thursday, July 24 2008
Petrotrin executive chairman Malcolm Jones said despite its surging profits, challenges lie ahead for the state-owned company.
In the six-month period ended March this year, the company recorded a net profit after tax of about One billion dollars, an increase of one hundred and sixty two percent compared to tt $408M for the same period last year.
“The crude oil, natural gas and refined products market remained strong fuelled by increased demand for middle distillates,” Jones said in his editorial in the company’s June issue of its magazine.
As a direct consequence of high crude and gas prices, the company contributed significantly towards Government’s revenues for the year via royalties and taxes. Total Government take was tt$3.8 billion or 46 percent of its upstream gross revenue, the company said.
Refinery margin averaged US$6.60 per barrel compared to US$6.29 per barrel, while natural gas prices averaged US$7.50 per mmbtu compared to US$6.67 per mmbtu for the same period last year.
But in spite of high oil prices and good refinery margins, Jones said this fiscal year continues to be a challenging as the company moves to accelerate its efforts in addressing the repair and maintenance works of its aging assets and health, safety and environment issues. He said while crude oil production on land operations remained fairly stable, Petrotrin suffered a set back in its marine Operations at Point Fortin due to aging infrastructure and safety inspection works.
Refinery throughput increased by 3.5 percent in this period compared to the same period last year.
Petrotrin, he said, is aggressively implementing its gasoline optimisation upgrade programme in order to meet the changing market demands for cleaner fuels and is expected to commission the isomerisation plant later this year.
In its refining and marketing overview which was published in the May issue of its magazine, the fiscal year 2006/2007 was another profitable year for Petrotrin.
The net profit was tt$1.1B and this figure exceeds both the projected net income and last year’s earnings, making it a ten-year record for the refining and marketing operations. For refining and marketing, the impact was positive as reflected in Petrotrin’s gross margin which averaged US $8.61 per barrel for the year. Petrotrin said it was able to maintain crude throughput of 158.8 MBPD by sourcing crude from West Africa, Brazil, Venezuela and Colombia. Foreign crude imports comprised 93.4 MBPD of the total processed. Refined product sales volume averaged 159,574 barrels per day, a 3.1 increase over the previous year. Refinery utilisation at 69 percent was 10.4 percent lower than the previous year of 62.5 percent. According to the company, a peak refinery utilisation of 83.9 percent was achieved in April, the highest ever so far. Capital expenditure was tt$1.6 billion which represents a 225% increase from the previous year’s expenditure.
In exploration and production, net profits stood at tt$543.8M and resulted mainly from high crude and gas prices. Gas production increased by three percent, while oil production decreased by approximately ten percent, compared to the previous year. The decline in oil was mainly in the Trinmar Operations where eight platforms were shut to assess how safe they were before resuming operations with them.
Equity production from joint ventures increased by 7.7 percent, compared to the previous year. Total proved reserves at year-end were 413.6 MMBOE, which was a downward revision of 23 percent from the previous year. The write-down was mainly due to continued depletion and lower than expected exploration and development drilling results.
http://www.newsday.co.tt/sport/0,83145.html
Petrotrin TODAY:Petrotrin Pain
Profits down but Petrotrin earnings up 132%
Published on Jul 21, 2015, 9:00 pm AST
By Aleem Khan
State-owned Petrotrin multiplied its losses 11.2 times to reach US$168 million for the nine months ended June 30 compared to US$15 million loss for the same period last year, but its earnings before income tax, depreciation and amortisation (EBITDA) rose 132 per cent between March and June, preliminary financials show.
Petrotrin chief financial officer Ronald Huff confirmed via email on Friday that the Oppenheimer data released to bondholders on July 16 is accurate.
Omar Zeolla, senior analyst responsible for Petrotrin at Oppenheimer wrote to bondholders.: “I believe Petrotrin's results for the quarter ended June reflect the expected improving trend in financial performance as its refining capacity came back online and oil prices and refining margins improved. While results for the first nine months of the 2015 fiscal year ending June 2015 are still being affected by the weak performance of the first quarter of the fiscal year, the last two quarters have shown a return to financial performance similar to previous years.”
Zeolla added that earnings before income tax, depreciation and amortisation (EBITDA) margins are back to the 11-12 per cent range and free cash flow has been positive for the last two quarters.
Petrotrin's nine-months ending on June 30 showed positive results, especially when calculating the results for the quarter ending June 2015, Oppenheimer said.
“The nine month figures show a positive EBITDA of US$24 million by my calculations. EBITDA was negative $75 million through the six months through the end of the first calendar quarter of this year. This was a result of the inventory write-down in the quarter ending December 31, 2014 (the first quarter of the 2015 fiscal year).”
Results through that first quarter had also been weak due to lower oil prices and the interruption in refinery operations which reduced refinery capacity utilisation to 25 per cent in fiscal 2014. “The improved results in the last two quarters reflect improved utilisation rate in refining – this was the major problem affecting results in the last year – now up to 70 per cent in the last two months. Refining margins have improved since early this year, Oppenheimer found.
“Margins reached five-year highs recently, positively contributing to results; throughput and product mix have also improved and fuel production increased. The company is benefiting from strong refining margins in the region, especially in some areas of the US West Coast as a result of strong demand and limited supply of refined products,” Zeolla said.
Refinery only 40 per cent supplied
Oppenheimer told bondholders Petrotrin's upstream production is also expected to increase after September, improving the company's own supply of oil for its refining operations. Petrotrin projects 25 per cent growth in oil and gas production by 2019 from current levels.
Increasing oil production improves the company's integration and should increase the own supply of oil from the current approximate 40 per cent of total needs.
Over US$175M lost
Backing out the quarterly results for Q3 FY2015 from the nine-month cumulative US$168 million net loss by the company, “the June quarter seems the strongest quarter so far for this fiscal year,” Zeolla said. “I estimate EBITDA of US$100 million for the quarter after a negative $125 million in the quarter ending December 2014; this figure included a US$175 million inventory write-down as a result of declining oil prices,” Zeolla said.
Free cash flow also improved to a total of US$124 million for Q3 FY2015 as quarterly revenues rose to US$882 million for the last quarter and EBITDA margins improved. “Free cash flow is expected to be - at worst - neutral for this fiscal year after capital expenditure (capex) was budgeted in the US$300 million range but will likely be below that number. Capex through the first nine months of FY2015 was US$130 million, so it is running lower than expected,” he said.
Preliminary financials show cash balances declined to US$133 million from US$277 million at the end of fiscal year 2014 (September 30, 2014) but mostly due to repayment of debt (total debt declined from US$2.2 billion at the end of FY2014 to US$1.9 billion). Cash balances declined close to the US$100 million minimum level the company is comfortable with but the company expects to close a US$500 million committed bank revolver by the end of this month, which should be used to repay short term debt and leave about US$300 million available to fund working capital and investments, helping maintain cash balances at least at current levels, Oppenheimer said. Petrotrin's short-term debt declined to US$725 million at the end of June from US$945 million at the end of FY2014 (September 30, 2014).
http://www.trinidadexpress.com/20150721 ... otrin-pain
UML wrote:FATHER of all LIES!
ROWLEY said this election would be the MOTHER of all LIES!
I want to correct that, it is the "FATHER of all LIES!" And Here are some of his LIES!
1. He claims he has 2 daughters officially leaving out his 1st born son Garth Alleyne!
You hear lie?
That is LIE!!!
bluefete wrote:But just in case the backlash has been massive:
https://www.facebook.com/SuperQualityTT
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