LJ Williams, NIF report good results

LJ Williams Ltd and the National Investment Fund Holding (NIF) Company Ltd both reported good financial performances for the six-month period ending June 30. This was shown in their respective unaudited financial statements for this period.

In a statement accompanying LJ Williams' results, chairman Krishna Bahadoorsingh said the company recorded sales of $34,55 million for this period. This represented a 29 per cent increase over the sales for the same period last.

He was confident of improved performance in the company's business and the next financial year to be "a profitable year for us provided there are no further shocks to our economy."

In its statements, NIF said its financial assets as of June 30 stood at $10,020,977.

The NIF ad on Tuesday said the company had made its eighth distribution interest payment of $112.2 million to 7,500 bondholders on its $4 billion bond, as part of a total interest payout since inception of $897.6 million. Further, the NIF said that on Thursday it will make its ninth semi-annual coupon payment to bondholders.

The NIF consists of shares in power company Trinidad Generation Unlimited (TGU) plus five assets (chiefly Republic Bank shares) transferred from Clico and Clico Investment Bank (CIB) to the Government (under the Central Bank's supervision) as compensation for the Government's bailout of Clico and the CIB.

The NIF comprises shares in Republic Bank (54.7 percent), TGU (25.7 per cent), Angostura Holdings (12.3 per cent), Witco (5.1 per cent), One Caribbean Media (2.2 per cent).

The percentage ownership of each company held by the NIF is: Republic Bank 26 per cent; TGU 100 per cent; Angostura Holdings 29.9 per cent;, Witco 5.4 per cent; One Caribbean Media 23 per cent.