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Aug 12, 2011

Cane Farmers say Banco Atlantida needs to minimize risks

Oscar Alonzo

When they appeared on OYE on Thursday, the BSCFA reps said Banco Atlantida also needs to get their perspective to minimize risks.

Oscar Alonzo, C.E.O., BSCFA

“The issue is I think the investor has not gotten full information as to how the thing is operating here from the side of the farmers. They have been focusing more from the side of the BSI management and so on and I think if they are reasonable investor because any investor coming in has to ensure right that it doesn’t come and disrupt what commercial agreements are in place, what commercial relationships. Because then it runs the risk there would not be a smooth transition, it runs the risk that the investment will be put at risk. So it beholds them that they can come in and have this dialogue and see from the point of the view of the farmers how this thing can work in order to move ahead.”

At the Sunday meeting, alternatives will also be tabled. There is urgency because B.S.I. has to pay ING twenty million dollars by the end of September. It is also indebted to the FirstCaribbean Bank and according to the government, the Banco Atlantida deal is the only offer on the table.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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2 Responses for “Cane Farmers say Banco Atlantida needs to minimize risks”

  1. Ricky Malthus says:

    I support the BSI workers and the BSCFA buyout of Belize Sugar Industries because they have the collateral, the expertise and experience, and the will to preserve their jobs , stabalize the economy, and as a result be a productive positive force on the Belizean landscape. What I don’t see is this Oscar Alonzo representing them nor the other guest. Is this the best financial representation the Caneros can muster. Not because Alonzo hails from Corozal means he is the best qualified for the job. Take note how Joey Montalvo couldn’t pass the muster. He is a good person but not up to the job which requires in depth understanding of several disciplines. Either Belizeans make up their minds to obtain the local expertise to manage our economy or go the way of the other post colonial countries.

  2. Ricky Malthus says:

    I am really surprised that the BSCFA can’t or don’t know where to look for the talent and expertise to obtain funding to buyout BSI. What I see is the great risk the association is in if the directors don’t get competent advice on management, finance, increased production and increased export to Mexico and Guatemala.

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