Lamor Corporation, a Finnish-based company and one of the world’s leading producers of oil recovery equipment, is willing to fork out money to help set up an oil spill centre to fight oil spills here.

While the sustained growth in the local energy sector has the company itching to do business here, the company has suggested to energy professionals that perhaps now is the time to look seriously at how the country can deal with a major oil spill. According to Andrew Craw-ford, Lamor’s International Sales Director, the company’s interest in TT really came about because of this country’s increasing environmental awareness and growth in the oil sector. He urged a gathering last week of local energy experts and businessmen at a presentation of the company’s products at Ambassador Hotel that it was time to set up a local oil spill facility to fight spills here. He noted that currently, whenever there is an oil spill in the Caribbean, most of the oil companies have a small amount of equipment to deal with the problem. However, he noted that they rely heavily on a co-operative in Florida called Clean Caribbean which has a stockpile of equipment located in Ft Lauderdale, Florida. “So when there is an oil spill in TT or St Maarten or one of the other countries where the oil companies are members of Clean Caribbean, the country will call the co-operative and ask them to come down with their equipment and clean up the spill,” he said.

Not only is this quite costly but he believes that it is better and cheaper if the oil companies have their own equipment to clean up oil spills. He said whenever they sell equipment, they tailor training packages for clients. He said most large oil organisations include special protection of the environment in their company policies, adding that the government also has a very significant role to play in promoting a clean environment and enforcing the regulations to protect it. Crawford said when Lamor sets up business in TT it will be working closely with the government to get their assistance in enforcing environmental regulations and to encourage oil companies to become part of the oil co- operative. Crawford said while they have been receiving lots of interest from companies in TT like BHP Billiton, bpTT and many other local energy organisations, Lamor, he noted, is in an exploration mode and is still researching the local market. He said the level of interest that they have been receiving shows that people and organisations are concerned about the environment.

Stiff brush oil skimmers form the foundation of the Lamor product range. The patented technologies are based on rotating oleophilic brush systems, which separate and recover all types of oil and oily debris, with a low water content. Lamor has supplied equipment for use in major oil spills around the world, including the recent Prestige incident in Spain, where miles of coastline was contaminated with oil. Crawford said the Caribbean is one of the areas that Lamor has not traditionally done business. Up until last year, Lamor basically focused on Russia and the Baltic countries. However, since they acquired two other oil spill equipment manufacturers, Lori and GT Pollution, Lamor wants to increase its reach. “We have taken on a larger territory now and we are trying to bring our equipment and business into other areas of the world where we have not been before,” he added. He said while the company has had some success in Colombia and the US,  the company has also done some business with Cuba and Jamaica but not with countries in the southern part of the Caribbean. Crawford said Lamor’s intention is to find a local agent in TT, who can look after their interest here. The company has offices in England, Beijing, Moscow and later on this year may be opening an office in the US.

But, “We usually work through agents in other countries and those guys look after our interest in those countries and we support them from Finland.” He said since TT is the country with the largest oil base in the region, they would like to find an agent to serve this market exclusively. However, he said it is quite possible that the agent will be able to service other Caribbean islands as well. “What we envisage for TT is something of a centre and we would not want our agents in Venezuela trying to support TT. We want someone here to support TT, because there is a very large market potential.” He said Lamor does not have any other agents in the Caribbean, noting that one of the companies they took over, Lori, used to service the Caribbean region through an office in the US. He could not say when exactly Lamor will be setting up business in TT or how much it would cost. He said the type of centre they would like to set up will mean an investment of US $7 million, noting  he will be very disappointed if the company did not have something operational in TT in the next two months. He is optimistic though, noting that they met a number of people who are interested in doing business with Lamor. “We want to look at those companies and see if they are suitable to promote our products,” he said.

Lamor Corporation has developed the concept of the Tier II Oil Spill Response Centres, which will co-ordinate and lead environmental responses in the event of a major oil spill incident.

The essential strategy to be pursued in the establishment of such a centre will be one of co-operation, where Lamor Corporation will set up separate companies for the task of oil spill recovery, while local authorities will constitute the governing body for the organisation. The task of the Oil Spill Response Centres will be to acquire the equipment and personnel needed to be in a state of continuous readiness in order to respond to oil spill hazards. The venue of the oil spill response centre should be geographically and logistically located to enable the fastest possible response and start of the oil spill clean-up operation in case of an accident. The oil spill response centre will require sufficiently large premises for storage of equipment. The centre should also be equipped with facilities for service and clean-up of equipment in addition to storage of equipment used in the aftercare of the spill. Ideally, the centre will be built with testing facilities for oil spill response equipment, and these test facilities may also be used by others involved in oil recovery.

The oil spill response centres will have their own permanent crew to maintain a state of constant readiness, and to guarantee a fast start to operations. The expertise, skills and experience of Lamor’s personnel will be utilised in setting up the centre. Lamor Corporation envisions that the oil spill response centre will train temporary staff for its operation and will offer training to other interested groups, drawing upon a network of expertise. A wide array of equipment will be necessary for the work of the centres, and will range from off-shore vessels to personal protection gear. The projected recovery capacity will be approx 5000 m?h, and the final recovery capacity of the equipment will be decided upon in co-operation with the authorities. All equipment will be stored at the centre and will be replaced annually with new equipment, ensuring natural turnover in the inventory. The centre will be internationally marketed as a Finnish export product, and will be an example of Finnish environmental thinking.

UWI students have a limited understanding of companies operating in the local business environment, according to the conclusion of a study done by the Institute of Business (IOB) on students’ job prospects  after graduation. 

The report titled, “A report on the Ideal Organisations to work for in TT,” said students can only comment on the companies that are utilised by lecturers in case studies, and those where they are offered “summer jobs.” The IOB suggested that UWI get more involved with the private sector as a way to remedy the gap. The objective of the study was to glean student feedback on a number of factors influencing their preferred choice of organisation to work for upon graduation The study noted that oil giant bpTT, TSTT and Petrotrin are high on the list of prospective graduates in the Engineering and Management Studies programmes.. When assessing the salary expectations of the prospective graduates, it was found that 60 percent expected a salary range of $4,000 to $6,000 upon graduation from university. Twenty-two percent expected to acquire a monthly salary ranging between $6,000 and $8,000.

The report said the relatively high salary demands will have implications for entrepreneurs and micro and small companies seeking to attract talent. According to the study, bpTT was ranked number one because of its remuneration package and fringe benefits; its reputation as a multinational corporation and the perceived potential for international exposure. TSTT was chosen as the second ideal organisation to work for upon graduation. Nine percent of the students indicated their willingness to work at TSTT because of salary benefits and the perceived “comfortable” work environment at the company. The report noted that prospective engineering graduates regarded TSTT as one of the few orgnaisations in the country, which can provide jobs relating to the students’ training in their desired field of work.

Petrotrin was ranked third. Like bpTT and TSTT, Petrotrin is preferred due to its attractive salary package. Prospective graduates also perceived that the organisation has an “easy” work environment with friendly staff. Atlantic LNG, Powergen, Schlumberger, British Gas, National Gas Company (NGC), PCS Nitrogen, TTEC, Trinmar and Republic Bank were ranked fourth to tenth respectively. Only two of the top ten companies were outside of the energy sector, and both were strong service providers. The most influential factors in accepting a job were determined by the frequency of the pre-determined parameters including competitive salary, location, health plan, integrity and secure employment being chosen by the students. The study found that a competitive salary was the most influential factor in selecting a job after graduation. Seventeen percent of the UWI students surveyed considered salary to be of utmost importance.

An organisation’s ability to provide advancement opportunities was the second most influential factor for accepting a job while job security ranked third. Flexible work options (the ability to work from home and flexible work hours) were highly valued by ten percent of the total UWI respondents. Integrity, location and a challenging work ranked higher than ethnicity, religious alignment and educational assistance. Preferred business sector, expected salary ranges, and ideal company size were also measured in the study. Ninety-six percent of the final year management students indicated that they preferred to work in the private sector as opposed to four percent wanting to work in the government/public sector. Forty-one percent of the respondents were desirous of working in the banking and financial services sector. The report indicated that this supports the top ranking of key banking and financial institutions namely Republic Bank Limited which ranked fourth, Caribbean Money Market Brokers (CMMB) ranked fifth and both the Central Bank and RBTT who tied for sixth place.

The second preferred business sector was the energy sector with 24 percent and the services sector ranking third. While 65 percent of the students surveyed indicated a willingness to work for a local company, 78 percent indicated their preference to work for a multinational company. The report noted that preference to work for a MNC as opposed to a local firm was due to the perception that working for a MNC offers greater mobility, more attractive compensation, international exposure as well as higher levels of professionalism and work ethics. The increased scope for travelling and broader opportunities also attracts the prospective graduates to MNCs. “It is interesting to note that the majority of students who opted for local companies stated that they would work for local companies mainly to gain experience and then to move into foreign companies.” The study also found that secure employment and the desire to “give back” to one’s country were other factors that accounted for the students wanting to work in local companies. The report indicated that this may have implications for local companies. Prospective graduates also preferred to work in relatively large companies.

With a flick of a switch and the roar and tumble of machinery, the block manufacturing facility at Bestcrete was officially commissioned on May 21.

With the introduction of the new Besser Superpac block plant, Bestcrete is now the largest and most automated manufacturer of concrete masonry products in the Caribbean.  They have also become the first local manufacturer of metric product (despite the Metrification Act of 1978, imperial sized units have remained the order of the day).  The new plant also has the capacity to produce sixty thousand blocks in a single workday. The commissioning ceremony was the culmination of eight months civil, mechanical and construction works and a total investment of TT$40 million.  All told, the new plant warranted the creation of some 46,000 square feet of covered space. 

Over 1,600 cubic metres of cement and 276 tonnes of steel have been used in this project.  A four thousand foot long rail system has also been incorporated into the design to allow for the quick and easy movement of raw materials and finished product around the facility. Housing Minister  Martin Joseph said  that the government and its agencies will require some thirteen million blocks in 2003 for its affordable housing programme.  He also reiterated the Government’s previous promise to supply 4,000 housing units before the end of this year. Chairman and Chief Executive of ANSA McAL, A Norman Sabga, reflected on the long road travelled since his Group acquired Bestcrete in 1993 — as a company not only in receivership, but in dire need of new machinery and infrastructure — to its present position as the largest and most reliable concrete block manufacturer in the region. He called on government to ensure that timely information relating to economic policies are provided to the business community.  

Managing Director of Bestcrete, Glenn Castagne pledged his company’s continued commitment to quality, affordability, choice, and dependability of supply.  He also heralded the coming of a better engineered masonry block, one that was approximately 15% lighter in weight and yet exhibited superior compressive strength. The new Superpac plant is designed and built by Michigan based Besser Company, and features a diagnostics system much like that in the most modern of aircraft.  The system is online and should there be any problems with the equipment in the new plant, technicians in the United States will be alerted right away. With a total capacity of over 100,000 blocks per day, Bestcrete is by far the largest block manufacturer in Caricom.  It is also the single largest consumer of cement in Trinidad and Tobago.

In a March 2000 letter to the IMF, the Government of Trinidad and Tobago (GOTT)  stated its intention for the National Enterprises Limited (NEL).

“Regarding other structural policies, the government attaches great importance to reducing the role of the public sector in commercial activities and streamlining the civil service to enhance efficiency. Accordingly, in 1999/2000 the government intends to divest 30 percent of its shareholding in the National Enterprise Limited (NEL) — a government holding company with shares in the National Flour Mills Ltd.(NFM), Trinidad Nitrogen Co. Ltd.(TRINGEN), and Telecommunications Services of Trinidad and Tobago Ltd (TSTT).  In addition, selected public enterprises will be prepared for privatisation while the monopoly of others will be removed by allowing private sector participation in the industry.” By March 2001, GOTT transferred its investments in NFM, Tringen and TSTT in exchange for 500M ordinary shares of no par value in NEL.  At the March 2002 year end NEL added to this portfolio 20% of NGCNGL, — whose principal action is the holding of an investment representing 51% of the issued share capital of Phoenix Park Gas Processors Limited. The purchase consideration was the issue of 50.5M NEL shares at a price of TT$4 each.  There was no cash outflow on acquisition. Expect to see 37.84% of NGC Trinidad and Tobago LNG Limited (NGCLNG) form part of NEL’s shareholding at the March 2004, as the sale agreement was signed, but approval incomplete, at the March 2003 year end. The company is in its embryonic stages and the balance  sheet reads accordingly.  As a start up holding company, fixed assets have not been acquired and no major investments other than the core business are on the books.  Thus there is no need for loans. Over the period 2002 to 2003 NEL decreased after tax profit by 3% from TT$311M to TT$3011M.
 
NEL is now running with its full contingent of Board members.  As stated in the IPO the Board must consist of three (3)  members nominated by the financial institutions which were the largest investors in the Initial Public Offering (IPO) one member nominated by National Trade Union Congress (NATUC) and six members nominated by the Ministry of Finance (Corporation Sole). During the year three directors resigned and subsequent to the 2003 year-end one other tendered his resignation. This movement of directors suggests that there may be dissension among the Board, but we should not speculate without facts. We were warned in 2001 that the company’s expenses will increase as the Chairman then stated “management and administration services are at present provided to NEL by the Divestment Secretariat. However, NEL is in the process of acquiring the appropriate personnel to provide effective management and offices facilities as befit a public company with a current market capitalisation of 2620M.”  This hardly provides justification for a 400% increase from TT$402, 000  in March 2001 to TT$1.6M in March 2002 for a company whose “principal business activity is that of an Investment Holding Company and has no business operations of its own. “ The Chairman reiterated in 2002,   “The Divestment Secretariat continues to provide NEL with management and administration services.

 In seeking to obtain office facilities, NEL is in the process of finalising a lease arrangement for office space at the UTC Financial Centre. NEL is also expected to acquire appropriate personnel to fulfill the company’s management and administration requirements.” Our expectations of further increases were not met in 2002/2003; in fact the administrative expenses decreased by 34% from TT$1.5M to TT$1.0 in 2003. Only a breakdown of the administrative cost will allow an appreciation of the areas of the decrease. In the published reports no further statements have been made.  Organisational charts should be reviewed to ensure that only the functions necessary to manage the portfolios and present monthly reports are included. An audit  function for independent verification of decisions and the cost of these at portfolio companies and a Treasury/ Investment  function (inherent in the Finance areas) would be important components of the Chart. Part of the NEL’s remit is “to hold its shareholding in selected state enterprises and facilitate a public offering on the Trinidad and Tobago Stock Exchange.”  Shareholders must question the necessity of building and supporting an expensive structure to achieve this objective. NEL can take a page out of the books of the Head office operations of  any local conglomerate. The operation should be lean in staffing, looking at issues as commonality within operations (operational and financial policies and procedures, HR,  IT Platforms) and sharing or trading services within the framework of a Group of companies. Thus far no statements have been forthcoming from the Chair on these critical issues.

Q. Why do most finance houses ask to hold a security of almost the same amount I want to borrow? If I want a $20,000 loan, they either want me to have a fixed deposit of about $15,000 or they hold something else of that value. If I had the amount I wouldn’t need the loan.
Earl, Santa Cruz

A: At first glance it may not seem to make sense. But there is a reason for this practice. Banks in Trinidad and Tobago find it extremely difficult to assess the creditworthiness of individuals. This is not a fault of theirs, it is due to a lack of available financial records. Only if an individual has had a long standing relationship with a bank can that institution make an informed assessment given that person’s credit history. If a customer approaches one bank for a loan, but had a good banking relationship with another bank, this credit history is worth almost nothing.

A bank may tend to use euphemisms on a credit report in describing a customer who has had a checkered history, but whose connection is still valuable to that bank. Because of this lack of an independent credit bureau, banks tend to be extremely cautious in lending to individuals, especially the ones who are not their long-standing customers. So for the time being, the only way to get favorable credit terms from the bank is to develop a relationship with your bank over time and stick with them. However, slowly but surely there is going to be an emergence of organisations which can independently provide verifiable information for the banking institutions.

Q. How do I go about setting up something like a fund for my children (aged 11 and 7) so they can get a financial head start by the time they are 18 or 21?
Sasha, San Fernando

A: There are two options which you can consider. Firstly, if you do not currently have a level of savings to start with you may enter into an annuity in which you pay a fixed amount per month. Since your children are relatively young doing this for the next ten years or so would enable you to accumulate a significant amount over time through the power of compounding. As you may know this results from reinvesting your earned interest and receiving “interest on interest”. You need to decide on the amount you want to have in ten years and then set aside the amount per month, which would grow to your target payout in ten years. Talk to a your insurance agent to work out the installment which is necessary. Make sure though that the amount you set aside does not stress your monthly cash flow too much.

While an annuity gives an assured future payout, the rate of return you earn is fixed and relatively low. Therefore the ideal situation would be to start an investment portfolio which, depending on the asset mix, can generate much higher returns than an annuity. However, to do this you would need to have a level of savings to start with. Once you can set aside an amount to an investment portfolio, talk to a qualified financial analyst to work out the investment strategy which is suitable to you. Generally speaking, since you have ten years before you need the funds, you can afford to construct an aggressive portfolio with a high growth rate. This may involve a high allocation towards investments in the stock market where the returns are quite attractive. Even though volatility exists in the stock market in the short-term, over a long period such as ten years there is a high probability that returns would be high. There are brokerage firms in TT in which there are qualified financial advisors who can help you construct such a portfolio.

Q. I noticed recently that Plipdeco opened a Rights Issue. What is a Rights Issue?
Lystra, Palmiste

A: Companies, when initially listing on the stock exchange raise initial equity capital through an Initial Public Offering. In such an offering investors are invited to buy shares at a specified price and depending on the market demand the issue may be oversubscribed or under subscribed. Later on, the company may want to raise more financing probably for expansion. In such a case, the company can raise more funds on the stock market by issuing shares to existing shareholders in a certain proportion.

For example, existing shareholders may be offered three shares for every one owned at a certain price. Such an issue of shares is referred to as a rights issue in that existing shareholders have the option to exercise their rights to buy more shares in the company. In the case of Plipdeco, one new share is being offered for every two shares held at a subscription price of $7 per share. In other words, for every two shares you hold you have the right to buy one share. So if you have 100 shares you would have the right to purchase 50 shares. The issue opened on June 16, 2003 and would be closed on July 11, 2003. Correction : In last week’s Business Day,  the Q&A addressed the issue of home equity loans to pay off credit card debt. The first line  read,  “That might not be a prudent thing to do…”. It should have read, “That might be a prudent thing to do. .” The error is regretted.

Questions can be sent to PO Box, 1830, Wrightson Road, Port-of-Spain. Email: cmmbsecurities@mycmmb.com

IN THE need to expand overseas markets for their products, a group of Trinidad and Tobago manufacturers, together with TIDCO and representatives of Republic Bank, recently visited Cuba on an exploratory mission. Having made the contact, having explored the opportunities, having discussed the possibilities of opening up trading links with Castro’s country, the success of the venture, of course, will now depend on the strength of follow-up action. In the first place, the mission must be credited for its optimism and open-mindedness since Cuba remains a Communist dictatorship under Fidel Castro and is still considered a pariah nation by the United States, some other democratic countries and international organisations. Indeed, on the face of it, the difference in systems seems forbidding, where one country operates a centrally planned economy with the productive capacity controlled largely by the state while the other subscribes to the doctrine of free enterprise in which individual initiative is the key to  progress.

However, in the era of globalisation and free trade, and long after the collapse of the Soviet Union and the Cold War, the world has entered an open economic mode in which isolationism is anathema and countries avoid the prevailing movement at their own peril. China, opening itself to foreign investment and free trade, with membership in the WTO, understands this; this eastern giant now boasts of the world’s fastest growing economy. Having long lost the material support of the Russians, Cuba has no other choice now than to follow suit, seeking investment and trading links in the region and rest of the world. So that inspite of its centralised system, Cuba has begun to liberalise its economy, making the changes that would facilitate the inflow of private investment and wider trading connections. The transformation would not have come easy and the outcome of the recent TT trade mission should indicate the extent to which the Cuban government has adjusted.

One positive initiative taken is the plan between the TTMA and the Cuban Chamber of Commerce to set up a company in Cuba to help TT manufacturers with the distribution of their products within the Spanish speaking country. According to Anthony Hosang, TTMA president, this is a crucial move. He explained: “We realized the way business is structured here, only certain state agencies had licenses to bring in particular products which they then distributed for other companies. We realized that to allow us to trade freely, as freely as the Cuban will be able to trade in Trinidad, we needed to have a Trinidad and Tobago Trading Company that would have full licensing and distribution authority.” The next step, he said, is to formulate the terms and conditions under which the TT manufacturers would like to operate. Brian Charles, Vice President of Marketing at TIDCO said TT was also reaching out to Cuba because of that country’s strength in the field of medicine and pharmaceuticals. As a result, Cuban manufacturers in this area have been invited to participate in the proposed Waller Field industrial project. TIDCO has also signed an agreement with a Cuban investment promotions firm, the Centre for Investment Promotions, which would facilitate the sharing of legal, economic and technical information between the two countries. Because of this Trade Mission, the prospects for establishing mutually valuable trading links between TT and Cuba seem quite promising. Indeed, this initiative should set a pattern with TT missions visiting other countries of the Hemisphere in anticipation of the coming of the Free Trade Agreement of the Americas. The markets will be open by 2005, but we could begin selling our products from now.

Say the word, “theatre,” and images of dramatic lights, vivid makeup, elaborate costumes are conjured up. While it is in the business of bringing reality to the stage, Arts in Action, have started taking a different tack by getting the corporate world hooked on drama.

With a  suitcase of costumes, some cubes as props and sets, a small piece of circular carpet, the group is bent on taking drama to the corporate world. This is no two-bit operation. Started in 1994, it is a viable small organisation based at UWI, St Augustine, an outreach unit for the Centre for the Creative and Festival Arts. What the small enterprise has is eight core employees and twenty part-time ones, a mission statement and a list of impressive clients like Lever Brothers, TIDCO, TSTT, BP,  FCB, Republic Bank, Atlantic LNG, BHP Billiton, and various government ministries.

The group has performed for everyone from clerks to CEOs. They have performed in a hotel ballroom filled with staff which BP reserved for a day-long programme involving other facilitators. They have also performed for a select group of technicians at TSTT – at 7 am. In the past, in preparation for the performance the cast has analysed evaluation forms from employees and utilized statistics provided by the corporate office. Their corporate workshops include themes of safety in the workplace, employer-employee relationships, sexual harrassment, motivation, tardiness, drug abuse and change management. For the average person the group may impose an admission fee of one dollar per person, with the maximum capacity per workshop being 150 persons. Companies, however, are charged a project fee of $5,000 to $10,000 per workshop.

Arts in Action, Assistant Director, Samantha Pierre, says tertiary education institutions, including UWI,  have faced the stigma of being elitist and untouchable. In order to ditch this stereotype view, the group try to use drama to explore social issues and issues that impact on people’s lives, especially in the workplace. To do so, they have had to revamp their  marketing strategy. From calling up people on the phone, the group now finds it has to advertise. Pierre says it is now becoming a business, noting though that is not what they set out to do. Arts in Action, she says, has the potential to become a profitable entity. The group is not  subsidised by anybody and operates on grants. “We don’t have a steady revenue, or budgets.” Rawle Gibbons, Director of the Centre for Creative and Festival Arts, and Dani Lyndersay, Project Director of Arts in Action, both conceived of Arts in  Action as a stepping stone for students to entertain, educate and inform. The group has moved from one where “everyone did everything” to one where they had to implement a formal structure.

Projects can run from the primary school projects to secondary school as well as university projects and corporations. “Our stage is any place that we have an audience – on the side of the road, in the middle of a junction, on a basketball court, even on the beach.” A performance can last between seven and twelve minutes. “It is always about conflict resolution,” explains Pierre, regarding the nature of the scenes they portray. “We stop at key points and ask the audience if this is the only answer.” The audience is such an integral part of the process that without them nothing can be resolved. Members of the audience engage in roleplay by being invited into the forum to interact with the cast. They assume roles, even donning the appropriate costumes. Pierre recalls one workshop  which was performed for a local company. The group did a workshop on domestic violence and  six male employees turned to the resident counsellor to discuss violence within their own households. “We’re not counsellors. We’re not psychologists and we are not claiming to be. We just present facts. We also help those who might break down and come to us for help by contacting the professionals for them.”

Every workshop is designed according to the specifics of its target group. Hand puppets may be used for small children. Colours, mime and music might be emphasised over dialogue in exploring race issues.  The group has also created workshops around international concerns and targetting NGOs and large corporations. For corporate workshops, the group works through the Employee Assistance Programme (EAP) of the company. Itead of firing the employee for drug abuse, companies find recourse in the teachings of Arts in Action. First Citizens Bank (FCB) used the group’s synergy workshop to launch an internal video to motivate employees, target punctuality as well as highlight turnover and which underscored the bottom line. BP has also used the group for a motivational video, safety workshops, and to help reconcile employees to company changes.

One example of the latter is BP’s current initiative to help employees deal with the advanced technology being used in their new building. The group has found that employees are always willing to participate, in both the pre-production work and the actual performance. The positive response to corporate workshops has inspired Arts in Action to prepare a package of set workshops which can be accessed by companies. They are marketing this package through videos and brochures. “Just as computers are the way forward in business, drama is also the way forward. Men are becoming obsolete but there is nothing like human reaction and human response. Drama has a role in every aspect of society.” says Pierre.

Arts in Action’s latest projects target the differently-abled members of our society and their employment concerns. “For a long time our society kept these people in the background” says Pierre. At present, Arts in Action performs a minimum of one workshop per day, including weekends. The costs incurred by the group in producing workshops range from as little as $300 for a one-man-show to $2000 for a team of six actors. Once the topic and target audience are decided, statistics are compiled, the relevant NGOs are contacted, cases are studied, people are interviewed and hot lines are located. This is followed by brainstorming, improvisation, “cleaning” or perfecting and, finally, the workshop.  Pierre indicates that Arts in Action has had many stereotypes to overcome in establishing their service in the marketplace. There are many erroneous assumptions, she contends, that drama can’t effect change, that drama can’t be about serious issues and that only certain types of people are involved in the dramatic arts. Arts in Action has had to battle for respect, she continues, and prove that being an actor-teacher is a real profession. “We created a space where there was none. We could have done like a lot of people – graduate and put on a suit and tie and look for a job. We decided to create our own jobs without any type of help and utilizing a form that hardly anyone took seriously.”

With Cuba now just two hours away, TT manufacturers are bent on finding the right formula to get their goods into the communist island. Cuba is being seen not only as a possible trading partner because of the availability of highly skilled labour but the country is a springboard into the Spanish-speaking Caribbean. There is also the close trading ties with countries like China and Canada.

Companies operating out of Cuba from these countries can offer our manufacturers the benefit of their licences and distribution expertise to set up operations within Cuba, a big plus for local manufacturers. It will also increase the current value of trade between the two countries. Last week, Trinidad and Tobago manufacturers spent a long week scoping out the Cuban market, courtesy the TTMA, TIDCO and Republic Bank. This trip was also a landmark for BWIA, as it marked the airline’s inaugural flight to the island. At the start of the mission many were skeptical about entering the market. Some companies felt they would have to compete directly with China and Canada on the Cuban market.

Cuba currently exports toilet and facial tissue, cigars and corrugated paper, while importing ammonia, bars and rods along with petroleum. It is currently looking to increase its foreign direct investment in the energy sector which is one of the benefits it hopes to derive from Trinidad as part of the CARICOM bi-lateral agreement. While China is a big investor in the nickel and oil industries, it is also the source of most of Cuba’s durable imports. At the end of the trade mission, TT manufacturers came away with invitations for trade, stronger business ties and gathered invaluable information on doing business in Cuba. It will not be easy. Trinidad Brushware Ltd, is offering some of the products Cuba imports from China, it would mean competing against China.

The company’s managing director, Paul Tiah, said he felt comfortable in getting a foothold on the market. Manufacturers were also discouraged by the lengthy registration process which called for at least five years of operations and three years of trade with Cuba. However, as the mission progressed, manufacturers found ways to get around these. Henry Tang Lee, managing director of Global Marketing enterprises, one of the manufacturers present for the TTMA Trade Mission, said he found getting into Cuba was not as difficult as he thought.
Lee, a manufacturer of clear, coloured and printed plastic bags will be able to set up business in Cuba, but indirectly. By forging ties with a Canadian distributor operating within Cuba, he will be able to export his products through them. The Canadian company already had a licence to operate in Cuba, a system local businessmen soon realised they could capitalise on.

The Cuban government has already indicated its interest in gaining support and input from TT’s energy sector. Sirelda Gonzalez, an executive of Commercial Politics for the Government of Cuba, said they were very interested in strengthening ties with TT, especially in the areas of drilling and refining. Currently, Cuba imports 30 per cent of its oil from Venezuela. Enrst and Young has indicated that there may be reserves of oil and gas available to Cuba in the Gulf of Mexico, but this is yet to be confirmed. The manufacturers’ major concern was getting their goods into Cuba and finding the right distribution outlets, without the heavy registration process.

To help facilitate the distribution of TT goods in Cuba, the TTMA, along with the Cuban Chamber of Commerce, plan to set up a distribution company in Cuba. Anthony Hosang, TTMA president, felt this was a crucial move in assisting local manufacturers and for ensuring success on the Cuban market. Hosang said since Cuba signed the agreement with CARICOM, TTMA has done a lot of work to familiarise companies on what is required. “We realised that to allow us to trade freely, as freely as the Cuban will be able to trade in Trinidad, we needed to have a Trinidad and Tobago Trading company that would have full licensing and distribution authority,” said Hosang.

He said Ambassador Narace and Minister of Trade and Industry, Ken Valley, have been in discussions concerning the trading company. He also said the next step is to put together the terms and conditions the manufacturers would like to operate under. Once this company is set up properly, it will allow our manufacturers to export directly to Cuba and have their products distributed through the Trading Company.

While the trading company will help most of the companies, there is also the question of credit. One concern is that local manufacturers will need to offer their goods on credit terms to Cuban companies. This condition is listed as a specific requirement for doing business with Cuba, according to Cuban officials. While bigger companies might be able to handle this, smaller companies aren’t so sure. “Gaining financial aid is important for Cuban businessmen,” said Cuban officials. It was made clear to manufacturers by consultants from Ernst & Young, Cuba, that while Cuban distributors are eager for foreign goods, the limited availability of hard currency makes it hard for them to do business.

While Cuba looks to Trinidad for investment and expertise to help boost its energy sector, TIDCO wants Cuba’s expertise and direct investment in the Wallerfielf Business Park, specifically in the area of medical devices and software. “We realize that we are reaching out to them because we recognise there strength in medicine and pharmaceuticals and invited them to be part of the new Wallerfield project. We want to piggy back on their strengths in terms of what they can offer and invest in Trinidad, specifically their know how and expertise,” said Brian Charles, Vice President of marketing at TIDCO. By and large, TIDCO, he said, will facilitate investment and help manufacturers with their exports.

COMPANIES that took PART IN
THE MISSION TO CUBA:
CARIB GLASSWORKS LIMITED
CARIBBEAN PACKAGING INDUSTRIES LTD
ERIN MEAT PACKERS LTD
HAKIM JUMAN AND SONS LTD
HILTON TRINIDAD AND CONFERENCE CENTRE
RADICA TRADING COMPANY LTD
REPUBLIC BANK LTD
SACHA COSMETICS LTD
SISSONS PAINTS LTD
S.M. JALEEL COMPANY LTD