Sterling Products Limited's Export Sales Manager, Dyanne Yhan receiving the President's Award for Export Achievement from Prime Minister, Samuel Hinds.
Finance Minister, Dr. Ashni Singh has ruled out major tax cuts on grounds that Guyana?s economy could face major ?long term? instability but the business community on Friday remained adamant that Personal Income Tax should be slashed because Value Added Tax (VAT) is raking in huge revenues.
Singh?s position came after the President of the Guyana Manufacturing and Services Association (GMSA), Mohindra Chand called for reduction of the 33? personal income tax.? Speaking with Demerara Waves Online News (www.demwaves.com) on Friday, Chand explained that the private sector?s demand is rooted in the huge revenues that the 16 percent VAT has been raking in.
?Naturally, there should be a proper study done before you could determine by how much it should be reduced but we see an opportunity for it to reduce given the fact that the VAT has been very effective in capturing all taxpayers whereas the Income Tax is not as wide as the VAT,? he said.
Latest figures show that in 2011 VAT and excise taxes raked in GUY$53 billion and Income Tax GUY$16 billion.
The Finance Minister told the GMSA Annual Presentation Awards Dinner that government was not prepared to sacrifice economic stability for political popularity. He cautioned the business community that reducing taxes would backfire on the private sector?s growth and overall performance.
?It is not in the private sector?s interest to have a country that has large fiscal deficit that accumulates unsustainable burdens of debt that in turn will undermine all of the other key indicators, that will undermine inflation and interest rates and exchange rates and end up making the environment for doing business even more uncompetitive than had those popular choices not being exercised,? said Singh.
Saying that huge tax cuts would amount to ?reckless decisions? and ?no brainers?, the Finance Minister pledged government?s commitment to working with the private sector ?to ensure that we preserve and protect the long-term solvency, viability and sustainability of our economy.?
The International Monetary Fund (IMF) forecasts that Guyana will this year register 3.7 percent Gross Domestic Product (GDP), 4.6 percent inflation and an external current account deficit of 14 percent of GDP.
The GMSA President said his organisation intends to early next month take advantage of the Finance Minister?s position and open talks with him on reducing Personal Income Tax. ?I don?t think the minister closed the door on the review-request but I think he opened the door actually for us to engage him,? said Chand.
Awards
GUYANA MANUFACTURING & SERVICES ASSOCIATION LTD.
ANNUAL AWARDS PRESENTATION & DINNER 2012
AWARDS & CITATIONS
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H.E. THE PRESIDENT?S AWARD FOR EXPORT ACHIEVEMENT
Sterling Products Ltd.
Consistent growth and export expansion in the demanding Caribbean Markets.
This uniquely indigenous company has recorded an exceptional 19% overall growth in export business in a single year.? Sterling Products attributes this to their commitment to expanding their markets into the wider Caribbean region including Antigua, Dominica, Grenada, Barbados, and to the highly competitive Trinidad and Tobago market.?
The current upward trend of sales of Umda Phalka Ghee and Baker?s Pride Shortening in Trinidad and Barbados respectively indicates that these products have superior functionality. Sterling Products has wasted no time in developing pointed strategies to ensure that the baking ingredients are more readily available in a larger number of supermarkets at home and abroad.?
Presented by:? Prime Minister, S.A. Hinds
Received by:? Dyanne Yhan, Export Sales Manager
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BARAMA COMPANY LTD.
Attaining Verified Legal Origin (VLO) international certification?
Barama Company is one of the oldest Foreign Direct Investments in Guyana, and the largest investment in the Forestry Sector. The Company manages a forest concession area of 1.6 million hectares of natural tropical forest and their value-added operations include sawmilling, veneering, plywood and kiln drying facilities. They have also adopted the new Forestry Commission thrust of harvesting and utilizing lesser known species such as Dakamaballi, Lemonaballi, Burada and Monkey Pot.
Barama chose to place their operations under a single international certification policy and the Verified Legal Origin (VLO) certificate was awarded in November 2012.? It represents the largest single block of tropical forest in the world to be certified under a VLO-type scheme.
Presented by:? GMSA?s Immediate Past Prsident, Clinton Williams
Received by:? CEO, Clement Ooi
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BANKS DIH LTD.
Upgrading Food Safety Management System for the Soft Drink Plant to the more inclusive international Food Safety System Certification (FSSC) 22000
Banks DIH is one of Guyana?s long standing indigenous companies.? As a manufacturer of ?ready to eat products?, it is critical for them to implement all measures to eliminate the risk of contamination and the accompanying hazards.??
The Soft Drink, Dairy and Novelty Ice plants were already certified with the ISO 22000:2005 Food Safety Management System.? However, in order to align the company with The Global Food Safety Initiative, Banks DIH decided to upgrade to the Food Safety Certification System (FSSC) number 22000 which encompasses the soft drink plant and all food manufacturing processes.? They received this certificate in February 2012.? In July, the ISO also certified the company?s Quality Management System.
Presented by:? Private Sector Chairman, Ronald Webster
Received by:? Finance Controller, Dipnanne Seepaul
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QUALFON (Guyana) Inc.
Improving and expanding International Marketing Service & involvement in Community Development
Since 1996, Qualfon has been ranked the top performing Business Processes Outsourcing (BPO) service provider.? Their reputation is one of high ethical values, below-market pricing, and a contented staff. ?Qualfon has been in this business internationally for some 16 years now, beginning as an IVR provider for well known clients, including one global stock exchange, IBM and AT&T.
To this day, Qualfon is the only significant call center in Guyana, proud of its expert industry experience, low turnover, and a financial strength that is designed for growth.
Presented by:? Mexican Ambassador, Francisco Olguin
Received by:? Manager, Luanna Persaud
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Total Air Cargo (Amerijet)?
Breaking new ground in Transportation Logistics?
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Total Air Cargo Sales and Handling Agency entered the air cargo handling industry in 1995 as proud agents for the Amerijet International cargo freighting service, providing transportation logistics for both imported and exported air cargo.? The facility specializes in aviation ground handling and inter-modal transportation of Amerijet?s cargo by air, land and water, in and outside of Guyana.? The management is also responsible for training staff and agents in the safe and proper handling of hazardous materials.
Total Air Cargo fully represents Amerijet?s primary objectives of developing long-term relationships with customers by providing first-class service, equipment and facilities, and staying dedicated to the tenets of quality service.
Presented by:? Ramesh Dookhoo
Received by:? Managing Director, Ulric Ceres
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Farfan & Mendes/Mines Services Ltd.
Extending the range of services to the Mining, Forestry & Wood Products industries, and introducing new and innovative technologies and methodologies
Mines Services Ltd. is a vibrant subsidiary of the Farfan & Mendes Group that specializes in tyre repairs for light and heavy duty vehicles, hydraulic hose assembly, mill-certified wire rope manufacturing, and a wide range of services and accessories for the mining industry.? As the local representative of Michelin and Goodrich tyres, Rust-oleum, National Hose, ESCO and Crosby Laughlin among other globally recognized brands, Mines Services continues to expand its range of products and services and its customer base with efficient point-of-sale and after sale services.
Presented by:? Canadian High Commissioner, David Devine
Received by:? General Manager, John Peroune
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EMPRETECO AWARD
Barbara Dublin-Peterkin
B's Beauty Circle & Naturopathic Centre, Visions of Excellence Personal Development Centre and B&D Farm Complex.
Application of the EMPRETEC Entrepreneurship Principles to Business Expansion & Community Development
The Empreteco Award is intended to foster the true spirit of Entrepreneurship based on the EMPRETEC methodology of innovativeness, investment, market penetration, export, and job creation within a framework of customer satisfaction, making profits, and generating corporate growth and development.?
Ms. Dublin-Peterkin is being awarded this year for her determined application of the ?EMPRETEC Entrepreneurship Principles to the expansion of business?.? She has been credited with pioneering efforts to maneuvre the Health and Wellness industry into a viable business venture.? She is also being recognized for applying the same principles to foster community development.
Presented by:? GMSA?s President, Mohindra Chand
Received by:? Empreteco, Barbara Dublin-Peterkin
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Camex Restaurants Ltd.
Unprecedented growth & immense contribution to the development of the Fast Food Sector?
Camex Restaurants, Inc. is a franchisee of seven (7) Church?s Chicken fast food outlets here in Guyana, along with three Dairy Queens, and one Mario?s Pizza plaza.? More recently, the Company added a franchise from QSR International, the master franchisee for Quiznos restaurants in Latin America and the Caribbean.? QSR, we are told, is pleased to have broken into the South American market through our own intrepid entrepreneur, Terrence Campbell.?
In fact, the development agreement calls for five Quiznos units to be opened within the next five years. This will significantly enlarge Camex?s operations which are spread around Guyana with Church?s and Mario?s Pizza Outlets in Georgetown, Berbice, Linden and Essequibo.?
Presented by:? GCCI President, Clinton Urling
Received by:? Director Equipment & Facilities, Gregory De Gannes
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Superior Shingles & Wood Products
Introducing new and innovative technologies and methodologies in Wood Products manufacturing and international market penetration
Superior Shingles & Wood Products (SSWP) is the manufacturer of the now internationally recognized Turada Wallaba Shingles. Their modern shingle plant is quality assured to meet the highest international standards. The state-of-the-art production complex has been in operation since 2001 and has the capacity to produce approximately 200,000 square feet of shingles per month.
Superior Shingles has successfully penetrated a number of exotic export destinations including resorts and homes in Mauritius; St. Barthelemy; Papeete in the French Polynesian islands; and Tortola and Virgin Gorda in the British Virgin Islands.? This product has become the choice roofing material for architects the world over because of its durability and capacity to resist insects, decay and even fire.
Presented by:? CEO Roraima Airways, Gerry Gouvieia
Received by:? Managing Director, George Bulkan
Prestige Manufacturing & Bottling Enterprise?
Business Expansion and immense contribution to the development of the Agro-Processing Sector?
This company is arguably one of the pioneers of export of locally processed agri-foods.? Prestige Manufacturing has for 20 years been quietly building up its production capacity, expanding its product range and acquiring more markets in the Caribbean and North America.? They have retained old customers for years because of their insistence on utilizing mostly local raw materials and traditional methods of production.?
Recently Prestige relocated to Eccles on the East Bank of Demerara, into a much larger factory building with better facilities for hygienic production and storage.? The company has also expanded its markets for achars, seasonings, churneys, essences and other products to Anguilla and Trinidad and Tobago, ?the USA and Canada.
Presented by:? Chairman, AFC, Khemraj Ramjattan
Received by:? Managing Director, Rama Prashad
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Mr. Dennis Morgan
Denmor Garment Manufacturers
Pioneering and developing the Textiles & Sewn Goods industry
The recently deceased Dennis Morgan, founder and CEO of Denmor Garment Factory was, without doubt, the leading manufacturer of men?s, ladies? and children?s outer and under garments in Guyana.?
Over several decades in business, he never lost his optimism that Guyanese manufacturers could hold their own against competitors from North America, Europe and Asia.? ?Dennis demonstrated his business savvy securing production contracts for several big-name international clothing lines including Victoria?s Secrets.?
He became a relentless proponent for the development of our own human resources, actually walking the talk.? At his own company located at Coldingen East Coast Demerara, Denmor maintained a staff of over 98 per cent women drawn from surrounding poor rural communities.? He provided skills training and stepped up his employee welfare management programme by adding HIV/AIDS counseling to his employee and community welfare programme.?
Dennis Morgan was indeed a visionary, and a philanthropist, well loved and highly regarded.? The business community has lost a dependable, determined partner and a shrewd mind.? MAY HIS SOUL FIND ETERNAL REST.
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We give this posthumous award this evening in full recognition of the sterling contributions he has made to his sector, and to business development in Guyana.
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Presented by:? CESO Country Director, Dr. Leslie Chin
Received by:? Mrs. Dennis Morgan
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Mariska?s Fashions
Sonia Noel
Continuous Expansion and Market Penetration for Guyanese Fashion Design
Whenever most people think of Fashion Designing in Guyana, Sonia Noel is the name that comes to mind.? She has become something of an icon and has already begun to stamp her mark on the industry across the Caribbean.? She has been invited to participate in symposiums and forums at Fashion Weekend events in Jamaica, Trinidad and other islands.? She went as far as the prestigious Ivy-League Brown University in the USA to lecture to students of the Arts.??
To say that Sonia is a phenomenal fashion designer is understating it.? She designs for her own showroom ? Mariska?s Fashions in Kitty, as well as a long list of clients here and abroad who prefer to wear her sometimes eclectic and fanciful designs.?
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Presented by:? GMSA Director, Clement Duncan
Received by:? Mariska, daughter of Sonia Noel
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LIFETIME ACHIEVEMENT AWARD
L . Seepersaud Maraj & Sons Ltd.?
In the pockets of this steady, old Company are over 70 years worth of crafting gold jewellery of exceptional quality renowned around the world. ??L. Seepersaud Maraj has been the staple for elaborate filigreed tilaries and exotic, multi-tiered bracelets.? They create intricately wrought gold and diamond earrings and a wide range of male and female jewellery with traditional and modern designs.
They crafted a golden Tilari for the British Queen Elizabeth II when she visited in the 1990?s, and a golden multi-tiered bracelet for the Duchess of Kent when she came to Guyana with her husband for our Independence celebrations some years ago. ?
The family enterprise was awarded the International Gold Star for Quality by Business Initiative Directions (BID) of Paris.? This was actually the first time that a Guyanese or Caribbean firm was recognized by this organisation which promotes quality culture in 163 countries.
We?re not sure when exactly the patriarch, L. Seepersaud Maraj, began selling from a showcase at that particular spot in the Stabroek Market, but there are records indicating that the shop was already in existence in 1935.? He trained his sons Sharma, Ram and Heera and today, they are designing and fashioning superior gold jewellery together with their spouses Molly, Savitri and Kamla.
The GMSA proudly salutes you for building and sustaining this uniquely traditional business for nearly 8 decades.
Presented by:? Finance Minister, Dr. Ashni Singh
Received by:? Managing Director, Heera Maraj
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