Last Updated on Saturday, 26 December 2015, 21:02 by GxMedia
A Jamaica-headquartered conglomerate is eyeing the running of yet another fibre-optic cable to
Chairman, Michael Chin-Lee said the Barbados-headquartered Columbus Communications could drop a cable here if it is feasible.
“That pipe that provides broadband we would be looking at ways to leverage the infrastructure that we already have we are still quite exploratory so I don’t want to build any expectations that are unrealistic,” he told a news briefing at the Cheddi Jagan International Airport just before boarding his private jet. The briefing was chaired by Presidential Advisor on Community Development, Odinga Lumumba.
The 20,000 kilometre-long Internet back-bone originates in
The billionaire-accompanied by Group Managing Director of Jamaica’s National Commercial Bank (NCB), Patrick Hylton-arrived here Sunday at the invitation of Former President Bharrat Jagdeo and held talks with President Donald Ramotar and ministers of finance, agriculture, and natural resources and the environment.
While noting that the Bank of Guyana last issued a commercial bank license 15 years ago, Chin-Lee hinted that the NCB would examine ways offering different financial products as a first step to opening its doors in this South American country of 755,000 persons. Actually, Demerara Bank was granted a license in 1994.
“We would hope at least we can get a toe-hold and start small and grow and once we have some mutual interest of each other and then we would be given more latitude in terms of the requisite licenses if necessary,” he said.
The business magnate, however, said Portland Holdings and NCB were “tempering” their expectations while remaining optimistic about providing financial products that are relevant to
“The telecommunications business and financial services have some domain expertise in that area and there is the need for it. I think there need be more competition in
The Portland Holdings Chairman said his company was also interested in investing in agriculture and aquaculture, following presentations by Agriculture Minister, Dr. Leslie Ramsammy.
The team left
“The perception of
The Portland Holdings boss declared that “there is a tremendous runway a very long runway of opportunities that
The Jamaica Gleaner last month reported that Lee Chin is the founder of Portland Holdings Inc., the current chairman of AIC Financial Group Limited and the National Commercial Bank of
Born in Port Antonio in 1951, Lee-Chin came to
In 1983, Lee Chin borrowed money to purchase $500,000 of Mackenzie Financial stock and after four years, the stock appreciated seven-fold. He used the profits to acquire AIC Limited, a small Ontario-based investment firm. Within 20 years, AIC grew from less than $1 million and, at its business peak, posted more than $15 billion in assets under management.
Lee-Chin’s philanthropy includes a donation of $5 million to
A $30 million contribution he made to the
Among his accolades are: honorary doctorates from McMaster, Northern Caribbean University, the University of Toronto, SirWilfrid Laurier University, York University and the University of the West Indies.