St. Maarten prepares to assess Antillean companies

POSTED: 01/31/13 11:23 AM

St. Maarten – An initiative for a strategic plan for several government owned companies that St. Maarten is a co-shareholder in, has found approval in the Council of Ministers.

On Tuesday, Prime Minister Sarah Wescot-Williams put forward the proposal so that the government can begin collecting information on these companies so that it can decide if it wants to continue.

Following the dismantling of the Netherlands Antilles, several government-owned companies ended up in the hands of Curacao and St. Maarten in most cases as well as the Kingdom government.

St. Maarten now needs data for each company such as their valuation, income, board representatives, shares and whether they offer monopoly services.

“With that information we should be able formulate a position on whether we want to continue with co-ownership in these companies or not and whether St. Maarten wants to propose that we buy out of these companies. For each company, a decision will be taken,” the prime minister said.

Based on the information the prime minister provided yesterday, Curacao is the majority shareholder in most cases.

In the case of  Antelecom (UTS N.V), NPNA and the Development Bank of the Netherlands Antilles,  Curacao holds  75 percent  of the shares while St. Maarten has 25 percent for all three companies. The Netherlands Airtraffic Controllers N.V as well as Saba Bank Resources N.V is owned 73.3 percent by Curacao, 18.75 percent by St. Maarten and 7.95 percent by the Netherlands.

Winair is the only company in which St. Maarten is the majority shareholder with 92.05 share percentage while the Dutch State has 7.95 percent.

Did you like this? Share it:
St. Maarten prepares to assess Antillean companies by

Comments are closed.