Creep Reep, NCN and Digicel part III

In previous articles we exposed the relationship between CREEP Reep and Digicel and NCN (See here and here). As each day dawns, Guyanese public is seeing the true (red) colors of the red cell company.

We have seen the Digicel question of the day, biased about the Government.... on November 4, 2009, the digicel's PPP question of the day was "who is the (PPPs) Agriculture Minister."

Each day there is a Digicel question of the day aired on Creep-Reep's-cousin's-NCN. The types of question of course shows the strong bond between the red company and the red government.

NFMU discovers false-teeth

We know everything in this poor country has a political spin. The Minister of Telecoms who we believe is also the president of the country showed how politicized the frequency management unit (NFMU)is.

Our reaction on reading the news was, "NFMU has teeth! Wow!" Alas, sad realization set in as we realize that it is only political teeth.


The stark reality is seen in the following analysis:

1. We have all heard the telephone company complain bitterly about illegal bypass. (Sure the monopoly of GT&T should be broken! and Now - not election year!).

2. We read that the telephone company complain about the bypass business which is, according to sources is about 60million dollars per month. (Dat's big monnnneeeeyyyy).

3. Bypass, according to research can only take place when the bypasser has transmitting equipment at his premises.

So why cant the NFMU find these guys that owns these transmitting equipment? is it 1) Because of the big money involved?
2) Because they are aligned to the PPP/ministers/parliamentarian?

Yet it can go after Benchie because he played MCoy’s tape? False teeth! Rotten false teeth.

There are no sacred cows

There are no sacred cows.
Recently the press has carried many of the Bennn Minister’s mouthings. The most recent repetitive mouthing from him has been “there will be no sacred cows”.
We want to ask the following questions:
1) Mr. Bennn, aren’t YOU a sacred cow? When last did you attend a meeting called by your boss (the PM). You don’t cooperate with your boss. You want his position.

2) Let us present the following SAMPLE picture from our Guyana cowlbum. Can anyone find a sacred cow in the lot? What about those that didn’t make it for the camera?

Braston, Liquibub and security

Braston, Liquibub and security

Guyana times (Oct 25) carried a story on Brasington, the owner of a foreign IT company (blackoutman’s brother).

We are wondering if there is any link of that company and happenings in Guyana. We will provide an analytical base:

1/ The local brasnton is brother to the foreign one that does systems integration and technology consultancy.
2/ The local brasnton is best friend to the Young One that had the contract to do the wireless security for the office of the president and other works for the GoG.
3/ The wireless systems were installed using the combination of local and foreign ‘expertise’.

Any link?

Note that the local Brasnton & Young Co are the primary advisers to Jadgeo on IT matters.

The 20-million dollar question: After the sale of GT&T’s shares, who will “win” the contract to bring in US$20million worth of computers to Guyana?

Any answer?

tick, tock, tick tock

Norman Browne's letter

Posted in Kaieteur Nov 2:

Dear Editor,

It is only a beast that would look into the eyes of a terrified child and calculatingly inflict such an horrendous injury that shocks an entire nation. I cannot find words to describe the emotions that ran through me as I looked at the photo on the front page of Kaieteur News. This is torture of the worst kind.

If anger was part of the emotions overtaking me at that moment. It was because atrocities of this kind are usually committed because the perpetrators of the law fully well know that they can get away with it.

Because the leader of the Main Opposition political party in Guyana has become a toothless, paper waving, white collar, upper class type that has no intention of genuinely representing the Guyanese suffering masses.

He must be made to resign immediately. These things are only happening because Robert Corbin sits in the seat of betrayal. He is incompetent; he is motionless because his leadership has long been compromised.


We wish to add: if the payee is helpless, yes let us curse him, what about the payer? GoG has boasted in the past that it was the paymaster for Corbin. What a payoff. What a waste!.

Election 2011/12 - PNC and AFC concedes

In 2009, almost 2 years BEFORE the next elections, the PNC and AFC have conceded victory to the PPP.

Already the PNC and the AFC have spoken out against the Jagdeo’ 3rd term. They have both publicly stated their opposition to the Jagdeo's 3rd term.

While we are against the continuing of Jagdeo in Power, why should the PNC and AFC both object to the 3rd term? That happenstance is a consideration only if the PPP wins. Are they therefore conceding to a PPP victory and are now squabbling on the PPP’s yielding to Jagdeo’s machinations for his 3rd term?

Finally, if they both accept defeat for the oncoming elections, why have an election at all? Why the expense? Will it be just to decide on how the opposition bench is split between the PNC and AFC?

Is there any power to stop the PPP? Would it take a divine intervention as it did Burnham?

CREEP Reep and NCN

As mentioned in previous posts, Creep reep daman has found a nice way to use telecommunications money to fund the campaign for THE 3rd term.

The PPP needs to ask Daman Persaud how much money his 'sabha' has contracted for - with a telecommunications company. Is the telecoms industry a part of this campaign? Have they no respect for the rule of law? Is it both Digicel and GT&T or one or the other. We need to know.

On top of this all, we understand that the Chairman of NCN is a relative to Daman Persaud (in law). It is alledged that the 'Sabha' gets all its programs done for free on NCN. We would like to know how much money Sabha is paying NCN for ads for the motorcade and how much they are paying for regular hindu programming?

6 Million dollars - DIGICEL contribution to CREEP

At the Digicel sponsored Diwali motorcade, the leader of Guyana Hindu Dharmic Sabha and PPP central committee member made the statement that Jagdeo should run a third term.

Our view is that this is a sad reflection of an old man that is stuck in the past and aiming to re-live his past into the future. We note that no other than his General Secretary (Donald Ramoutar) referred to the third term as 'mischievious' - yet Daman Persaud - a cc member - is opposing him. Obviously Daman Persaud is one of the 'mischievous' characters that are now finding funds for the CREEPs

No word from a PPP that will be fragmenting before the our eyes as people will jockey for positions...

The bottom line is:
1) Repu Daman Persaud sold out the Hindus to Digicel: a 3 yrs' contract for 6 million dollars in their pockets.
2) For that, Digicel gets involved in Hindu Community. Only red puja flags from now.
3) Digicel is now involved with the CREEPs (committee for re-election of the president).
3) Will Digicel now funnel - as they did this time - funding for Jagdeo's third term? Funding for election campaign through the religious organizations?

Surujbally & the Return of the CREEPs

On Aug 8, 2009 the Guyanese head blamed the Guyana Elections' commission for the delay in local Government Elections. GoG blamed Surujbally of, among other things, wasting money. However, Surujbally placed the blame squarely back on the lap of the Government.

It is interesting to note that Surujbally's response was made at a time when there is surmised to be a number of theoretical outcomes of the calls for a third term for Jagdeo.

About a month after Surujbally opens his mouth, his wife who was Marketing Director got fired from GuySuCo. The story behind the firing is itself interesting as the new CEO of GuySuCo seemed to be acting on instructions and locked the goodly lady out from a management meeting - on the excuse that she was late for the meeting. In fact our source says that she followed the CEO to the room as she normally does, being the only female in the meeting. Anyhow, one can only conclude that Nisa Surujbally was fired for a greater sinister reason which we theorize below.

Elections and Third Term
The persons who win the largest contracts from GoG are behind the committee for the re-election of President Jagdeo (CREEP reborn under ppp). Unlike what he says, Jagdeo is interested in 3rd term but they all realize that they cannot amend the constitution to create that possibility. So what can be done?

Create the ripples so that people know that the 3rd term is in the air. Feed the newspapers so that the hue and cry is big (and like everything else) eventually runs out of steam.

Meanwhile, frustrate the elections commission so that local Govt elections does NOT happen. For his stupidity, they fire Surujbally's wife - this is the start of the personality interference. In another few months, Surujbally will have had to take time off to let his wife settle down (maybe in Trinidad again). He will then either wisely take the blame for the delay in local gov elections or will find himself in such a crises that for health reasons he has to resign.

All the above give CREEPs more time - the populace will have by then gotten used to the idea of Jagdeo.

Meanwhile no one within the Party could dare step forward - for the sake of "party unity" - and Frank is silenced by the attacks on his wife, Donald is silenced for party unity sake, Robert is silenced for fear of losing future ministerial portfolio, etc, etc.....

After all the above, GECOM in crisis, PPP in crisis, PNC still a no-go and AFC still 'building' capacity.

AND, PNC is duped into insisting that local Gov’t elections MUST be held BEFORE national elections.

We are then going to have Local Gov’t Elections.... and as part of this election will be a national referendum. The people will vote for the return of the maximum leader.

We're back

Apologies. a necessary hiatus was taken. We are back.

Strike back against phone thieves!

from Imran Khan's blog:

Strike back against phone thieves

A cousin of mine and a friend of hers recently had their mobile phones stolen in Georgetown. It was early evening and they were standing on the street chatting and exchanging phone numbers when a neatly dressed young man walked up and held my cousin’s hand, forcibly removed the phone and then snatched her friend’s phone. He then calmly walked away.

They were left helpless and mildly distraught after what was a slightly traumatic experience. Naturally when one loses a mobile phone, either by theft or otherwise, one tends to be more concerned about the valuable information stored in that phone – particularly the contact details of friends, colleagues and loved ones – than the instrument itself.

In 2005 when I worked with the West Indies team I and several of my then colleagues had our phones stolen in Sri Lanka and we had not known about the need to save our IMEI numbers. Fortunately after a month our phones were returned to us after an intense countrywide search by the Sri Lankan police and army and the offender – an army deserter – suffered a terrible fate.

After the loss of my phone and over the years I received several emails advising that I copy and store my phone’s IMEI number in a safe and secure place in the event I lose the instrument. Ever since I received the first email about this I have been keen on storing the information but thankfully I have not had reason to use it for the purpose intended. I have also forwarded this most useful email tip to others and I am certain that I forwarded to my cousin as well.

Purely by coincidence I came upon her at the very scene of the crime less than five minutes after it occurred. After a quick assessment of the situation it was agreed that there is little sense in going after the thief in the dark of night in a dangerous ghetto area in which he appeared to have entered to make good his brazen escape. We were left with two options. One was to report the matter to the nearest police station. This is Guyana, we agreed that the phones were lost for good and decided not to pursue that course of action.

We could however exact some form of revenge. I immediately asked her for the IMEI number so that we could report it to her network and have them render the phone useless. Unfortunately she did not have the number saved.

You should not make this mistake. It is easy, painless and may come in useful.

To view your phone’s unique IMEI number simply input *#06# on your keypad. The number will automatically show up. Copy it, send it to yourself and select loved ones by email and, as a back-up mechanism, it is also a good idea to write it down in a place where it will be easily accessible. Saving your phone’s IMEI is like a quasi-insurance policy of sorts.

If you suffer the unfortunate experience of losing your phone you should contact your service provider and provide them with the IMEI number. They will be able to use the number to block the handset from being used even if the thief (or new owner) changes SIM cards. The phone will become nothing more than a paperweight.

I have come to realise that many people are aware of the need to save their phone’s IMEI number but, sadly, out of pure negligence they do not save it and some are left bitter and helpless when they lose their prized handsets. If enough people all across Guyana save their IMEIs and phone thieves realise that stealing people’s phones is a worthless petty crime it could lead to a reduction in the incidence of phone snatching which seem to be at an all time high in Georgetown.

The GPL connnundrum and LCDs

GPL is one of the remaining monopolies in Guyana. It is a true monopoly unlike the others like GT&T that the GoG is trying to break up - no one is talking about breaking up the GPL monopoly.

This company is not charging many customers in certain areas for their use of electricity. The rest of the nation has to pay for them all. It has complained that most people steal electricity in one way or another. The owner of the company is the Government of Guyana.

The GoG on the other hand is preaching Low Carbon Development Strategy - yet is spending millions on fortifying the fuel-burning GPL. Can Guyanese for one moment think of the following:
1) GoG champions LCD, yet pollutes Guyana with its GPL
2) GoG champions LCD yet penalizes Guyanese for bringing in newer energy effcient cars - that is, Guyanese are forced to bring in only cars more than 10 years old. They cannot affort the taxes on newer vehicles.
3) Finally imagine this: if the world bodies were to agree to give Guyana money for its LCDs (which is definately not happening), think what woudl happen to GPL, Vehicle usage, oil-exploration, mining etc. All would be banished!

Each Guyanese has been criminalized by the State. Using various means and methods the Guyana Government has virtually caused every citizen of Guyana to become a criminal.We conclude by saying that the GoG criminalizes everyone in Guyana in many ways:
1) GPL
2) The Policemen

And this so-called "working class" government cannot understand that people steal electricity becasue they cannot pay the high rates. Reduce the rates and everyone will pay. You will gain more. Look at what happenned to VAT.

GuyExpo pushed back

GuyExpo 2009 has been pushed back to October 1.

There are any numbers of speculative reasons for this move. The primary one is that Clico is no longer here, so the big sponsor of last year is missing. Who will take up the slack?

Another reason premised is the poor indications for occupancy at the exposition. Afterall, every year it is the same thing, over and over again. No change to the exposition, no change to Guyana, no change to business in Guyana. The only change has been the contractors bank account.

Digicel who has also come into the country, like Clico, blowing hot and red, seems to now be simmering after the poor bimmering. Nothing seems to be happening from that camp as all they are interested in is promoting their own brand - no nationalistic streak there.

With the problems between GT&T and GoG, they (GT&T) may not be too eager to be footballed around as GoG has already branded all GT&T's contribution as a business deal not nationalistic.

Who else? Let's call on....

GuySuCo - the dying goose!

Estates' workers on Strike

Two of the sugar estates have virtually come to a standstill due to the industrial action of the workers.

Strike action is often justified for many reasons, esp since the workers must continue to demand a better living for their families. However, these strives are ill-timed and bad for Guyana. The fact is that the company cannot afford to pay. Yes there is wastage and corruption. The audit department is a waste of time as is most of the middle and senior management. However, this important industry is facing serious cassh problems.

Clearly giving Jagdeo their thumb, the workers have reacted negatively to Jagdeo's speech of last week (he called for workers to work hard). We believe that the sugar workers and all other workers need to be firm and create some sort of pressure because of the huge corruption in the country. However, to strike against their own industry is directly killing the goose that has already ceased to lay the golden egg.


UPDATE - Aug 28, 2009
Strike has ended.
Outcome: $20 increase in per bed rate for obstacles
Fire (lasting fro 5 hours) destroyed approximately 36 beds of cane.

The overall problems continue at GuySuCo. Management, leadership and strategic view...

Kidnapping - again!

Natoo’s daughter kidnapped - caller demands $40M

This is the headline of today's newspapers.

It is with a sense of foreboding and worry that we receive this news today. Oh dear God, let us not drift this way again!

What has happened - our hearts ask!
Is it a slide again to the dark abyss of crime in Guyana? or
Is it to take away all the attention from current goings-on in Guyana?
Is it to change focus from the fraud and corruption being uncovered everyday?
What is happening?

We pray sincerely for the safety and safe return of the young lady.


UPDATE: Aug 28, 2009
The young lady was rescued by a strange lady.
Rescued, but more questions than answers.

As guyana is led to low carbon diversion

As Guyana is led to low carbon diversion, the nation grown despondent and madness prevails - literally.

Our hearts cry out for the battered and killed women who can only be the victims of growing madness within the populace as depression and poverty leads people to drugs and alcoholism.

Kudos to Dr. Ian McDonald for an EXCELLENTLY written article. His article entitled "our corner of this murdering star" is well written about the plight of the battered and murdered women.

So much effort and money is wasted behind the LCDS - which will bring no economic benefit to Guyana. While the lotto and petrocaribe funds are being wasted by the spendthrift Government, the nation bleeds - and goes mad!


Here is a part of Dr McDonald's article:
I cannot escape the terrible feeling that such pitiless cruelty goes beyond brutality and mad violence. An element of pure evil enters the equation

The English poet Thomas Lowell Beddoes wrote a play called Death’s Jest Book which he began in 1828 but which was not published until his suicide in 1849. In this tragedy one of the characters declares the whole world dammed:

Nature’s polluted
There’s man in every secret corner of her
Doing dammed wicked deeds. Thou art, old world,
A hoary, atheistic, murdering star.

The litany of horror that fills the news day after day is endless and numbing.

In our small corner of this murdering star there seems to be no relief. I thought the worst in a lengthening dossier of atrocious domestic crimes was when I read a month or two ago of the torturing, beating and stabbing to death of Sharmin McKay of Bare Root. The man battered her to a pulp, forced kerosene down her throat and stabbed her with a long fork and knife until they broke in her. Blood runs cold.

But such horror soon meets its match in these terrible times. Lately, I have learned of Kathleen Mo-A-Lin who had three children – she was bludgeoned and poisoned to death, her mouth glued shut to prevent her spitting out the poison. Who knows what new horror awaits around this corner of our murdering star?

I cannot escape the terrible feeling that such pitiless cruelty goes beyond brutality and mad violence. An element of pure evil enters the equation. It is easy these days to share the dark and baleful view of the poet/priest John Donne who saw man as sinful through and through even from the first moment of his conception: “There in the wombe,” he wrote in one of his sermons, “we are fitted for workes of darkness, all the while deprived of light. And there in the wombe we are taught cruelty, by being fed with blood…”

Corbin wins PPP celebrates

Corbin has secured his future as the main opposition face to the current GoG.

Another sad day has dawned for Guyana. The winners of this latest hapennning: The PPP and Corbin.

The PNC is once again the most defeatable party at elections. Race will save the day for them once again as it will for the PPP.

Goodbye democracy.

Questions Part II

More questions than answers:
On National Drainage and Irrigation:
1. From the days of the flood 2005, How many D&I contracts were awarded?
2. What companies were they awarded to?
3. In whose names are those companies registered?
4. In whose account did all the payment end up to?

Questions

Questions:

Hopefully Mr. Chris Ram would help.

1. How much money has passed through NICIL over the past 5 years? How is the money accounted for and what were the bank accounts that they were deposited into?

2. What list of expenditures has been used for Lotto Funds for the past 2 years? What accounts were the lotto funds deposited into?

3. What is the NOW balance in those accounts used above. To whom were payments made from those accounts?

President flays GECOM

"With all the staff and the money that we pump into this agency something has got to be wrong..."

So said Mr. Jagdeo. Guyana has consistently had the problem of time-lines. When one sees the Head of State making statements like this, one wonders what kind of manager he is!

Any good manager should be having periodic (weekly or monthly) reports about the progress of critical operations. Elections is always critical!

I am sure that, if and when asked, Surujbally will say that he would periodically update the administration on the lack of progress of the Elections Commission. Yet Jagdeo says this nonsense. And this comes from a man who micromanages Guyana. nothing happens without his say-so!

So, Mr. President your excuse is poor, find another one. YOU ARE RESPONSIBLE!

Demise of The Ministry of Health

Pitiable, laughable or crazy?

Following the fire at Ministry of Health, the Kaieteur News of Sunday 19th July 2009 carried a PUBLIC NOTICE that stated: It is with deep regret that we inform you of the demise of the Ministry of Health.

Look at paragraph 2: The LOST experienced....

O my God!

That 20 per cent in GT&T - predictions

The PNC has dared to question the wisdom of the GoG in selling the 20 percent shareholding.

For the next couple of weeks, we will all see the bad history GT&T, the consulting with Hoyte, the pricing etc etc. I predict that Jagdeo and PPP will find NOTHING good to talk about GT&T for the next couple of weeks.

This is the president who said that the people are too negative and focus too much on negatives. He dared Guyana to look for positives.

As far as I am concerned, this is the company that pays millions to the people for social work. I see local faces in their ads. I see guyanese employees.....

But it is all in the hands of God...oh sorry, Jagdeo. The PPP is powerless to stop this. Guyana will lose another 2milion US per year as this dividend will be paid to other shareholders who will buy that 20%.

Thanks! Great Job! Screw this country some more!

What's more to come

What else is in that sleeping man's head? What else is Cheddie and Janet and Burnham and Hoyte telling him to ignore?

We wait with bated breath! BUT, maybe as soon as the license is granted, that threat disappears? Huh?

We know the thieves. The SAD part is that they know that we know but that we cannot do anything about it! (Except talk)

GT&T shareholding in spotlight

The Government has decided to give up its 20% shareholding in GT&T and a number of concerns are being raised in all quarters.

The PNC has questioned the sale of the shares and the Kaieteur news has questioned who will buy the shares as it is opined that the friends of the Government will buy the shares.

The Government, in response to the PNC, attempted to place the telephone company in bad light Here is what the Government said, along with our thoughts:
1) Gog:The annual amount (dividend) paid to GoG fluctuated between 1 and 4 million dollars. The TRUTH: GoG received an average of 2.6 million US$ per year from year 2000.
2) Gog:The shareholder has been prevented from influencing the company. The truth: THANK GOD! The Government would have interfered and bungled everything in their usual style. MORE TRUTH: We suspect the GoG didn't bother to attend meetings and never appointed directors to the board.


It is obvious is that the GoG is very eager to shut this company down - maybe because it was started up under the PNC government and has been a success story for Guyana. The total dividends received by the government more than paid for the sale of the company. Obviously the Government cannot account for any of this money.

The company continues to function without influence of the Government. This does not fit with the Government's plans for control of all telecommunications in Guyana (TV, Newspaper, Radio, Telephone). Maybe Digicel is paying or playing the Piper.

In conclusion, the Government said that it will take the money from sale of shares and put it toward ICT. We challenge the Government to say what it did with the dividends received each year. OR what it did with the company's taxes. GT&T says it pays 15-17 MILLION US dollars in taxes each year....why not invest that in ONE YEAR and get ICT going.

Norton invokes a kangaroo and brings PNC into disrepute

Norton of the PNC has invoked the old PNC god of kangaroo (kangaroo court, kangaroo election, kangaroo everything). He will now be tried by his peers (all kangaroos) in the PNC's kangaroo court. May the kangaroos bless Norton.

Meanwhile, he has vehemently denied that he has brought the PNC into disrepute. This shocking denial comes at a time when the PNC needs no help in being of poor repute. To Norton's credit, teh PNC needs no help to get worse...they are doing so naturally by just being!

Also, Norton forgets when he started the run into disrepute from his days as a creature of Hoyte.

As we commented before, the PNC (always in disrepute) is wallowing in the pits of disgust, dishonesty and disappearance. Their next name change will be PNCD (instead of PNCr). Their future has disappeared. All they will ever be is a bitter part of Guyana's sad history.

Sadly, Guyana loses again.

PNC cannot be diverted to real issues

Corbin's recent statements can be taken as a fact that the PNC cannot be diverted to the real issues facing the nation (PNCR cannot be diverted from real issues facing the nation – so said Corbin).

The PNC seems not to be concerned about what is happening to Guyana. While the PPP cannot account for Millions of dollars, the PNC continues to be obsessed with rigging its internal elections so that Corbin can retain leadership.

A very instructive comment by Corbin reads, "“Sometimes when people don’t understand fully the reasons for strategy and tactics they can arrive at incorrect conclusions"

We can only shudder to think of the inner meaning of this statement as it represent the PPP and PNC. God help Guyana!

utcex2ph7s

utcex2ph7s

PNC falling apart

The PNCR is falling apart at its seams every day. Corbin seems happy with his 300,000 salary plus driver plus security and lifelong pension. He is not going to budge!

Who is the loser?
Norton? Definitely NOT!

The BIG loser is GUYANA!

We believe that PNC's disorganized state and its ridiculous pursuit of its role as OPPOSITION is the cause for Guyana descent into the runaway corruption of the current Government.

Guyana ends up losing again!

Guyana Government cannot account for BILLION$ - Part II

Following our earlier blog in which we were contending that Government misappropriated over 100 million US Dollars in 2007 (cannot give account for it); other reports have been seen about the Health Ministry and Education Ministry financial irregularities.

The overall fraud and irregularities that have been exposed leaves us breathless. Shame on our Government! Shame on our Parliament! Shame on the opposition!

Is it time that we petition international agencies to investigate what is happening in Guyana. Cheddi Jagan cried to the world during the days of dictatorship. Who will cry out now?

Recap of the details on the Min of Education financial irregularities. For the previous blog on the >US$100million see link.
Min of Education: “failure to recover several millions of dollars in overpaid salaries, bank accounts with overdrafts of millions not being reconciled and overpayments to contractors among others.”
The failure to recover the overpaid salaries might be forgiven (though it is not right) since those who left the service also left the country. However:
- $78 million - bank account was overdrawn
- $4.3 million – outstanding ‘transactions’
- $2 million paid for questionable contract for TV ads (who is Ross
Enterprise?) – “All attempts to trace
this firm have been futile.”
- 1,146 teachers allegedly not registered for social security (NIS)
- $32 million overpaid to contractor (who?) for President’s College.
- $2 million paid for text books (to whom?), no books received.
- $23 million spent supposedly for Berbice Campus – no supporting documentation.

Guyana continues to despair as the powers that be continue to sweep every scandal under the carpet – and every of it financial irregularity takes place brazenly. Who will hold them accountable?

The question we have is with all this blatant corruption, why is this nation so silent?

Digicel debt

Digicel Debt placement

New Digicel placement
Published: Wednesday | July 1, 2009
(Taken from another blog)
Digicel Limited (DL), an affiliate of Digicel Group Limited, on Tuesday offered up for sale an additional US$250 million of its 12% senior notes, in a private placement in New York. This will be used partly to finance future unspecificied acquisitions.
The notes mature in 2014, alongside another US$350 million already issued. The debt is guaranteed by 9 of the Irish company's subsidiaries, including Digicel Jamaica.
“We are offering an aggregate of US$160,000,000 of new notes," said DL's offer document.
Denis O'Brien, indirectly owns 95 per cent of our common shares. Denis O'Brien, who also controls 100 per cent of Digicel Group - ultimate parent of Digicel Limited - has since the company's formation in 2001 showed a marked preference for debt to finance the mobile provider, whose holdings extend across the Caribbean and into Central America.
Digicel Debts
Digicel Limited's debts, reached US$1.8 billion at March 31, 2009, or 2.68 times EBITDA of US$676.6 million. A portion of the DL debt, US$75 million, is owed to Digicel Group Limited.
Digicel Limited, a US$2.27 billion operation incorporated in Bermuda, also reported consolidated net profit of US$166 million from revenue of US$1.7 billion.
However, the company also disclosed that subsidiary Digicel Holdings Central America Limited has a big loss of US$176.6 million.
More losses coming
"We may continue to incur losses in the near future," the company said.