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“West Side won’t be the best side at President’s Cup,” says J’s Racing Stable Sep 08, 2024 Sports Mapa Do Brasil Kaieteur Sports – As the excitement builds for the upcoming President’s Cup on September 22, 2024, at Rising Sun Turf Club, J’s Racing Stable is determined to make a significant mark in the sport of kings. Fresh off the most prestigious race in Guyana, finishing second in the Guyana Cup to the impressive Brazilian-bred Olympic Kremlin from Slingers Racing Stable, J’s is on the accelerator to elevate their status in horse racing. Owner Jermaine Sripal emphasizes his competitive spirit, stating, “When entering into any business or sport, I have to come out on top, and get there as fast as possible.” He acknowledges his personal friendship with Javed, the owner of the Guyana Cup winner from Slingers Racing Stable but remains confident that the President’s Cup will see the crown snatched from Slingers stable and returned to Berbice—not Region 5, but directly to New Amsterdam, Region 6. In a bold move to secure victory, J’s Racing Stable has imported two top-class Grade 1 Brazilian horses, Mapa Do Brasil and Companheiro Lea, to compete alongside their established runners. This strategic move aims to increase their chances significantly in both the President’s Cup and the Sprint on the day’s card. Companheiro Lea Among the lineup from J’s Stable is the crowd favorite and Horse of the Year 2023, Spankhurst, making a highly anticipated return to the track. Joining him is stable mate Nova Sol, who also showcased his talent with a commendable second place in the Guyana Cup. The combination of local owners and international imports sets the track for an exciting day of racing at Rising Sun Turf Club, home of the Guyana Cup. Notably, Mapa Do Brasil and Olympic Kremlin share a very competitive history, having raced together in Brazil on multiple occasions. Earlier this year, before Guyana Cup winner Olympic Kremlin was imported to Guyana, Mapa Do Brasil emerged victorious against Olympic Kremlin once before. This connection adds an intriguing layer to the upcoming race day, sparking curiosity about how these horses will perform in the new environment. With a strategic mix of experience and fresh talent, J’s Racing Stable is not just aiming for a strong showing; they are gunning for the top. As the President’s Cup draws nearer, all eyes will be on J’s and their impressive stable of horses. Will they prove that “West Side” isn’t the best side after all? Only time will tell as the race unfolds. Related Similar Articles

RHT NAMILCO Thunderbolt Flour Cricket team to spearhead celebration Sep 08, 2024 Sports RHTYSC secretary Hilbert Foster hands over items to Rose Hall Town Clerk Natasha Griffith Rose Hall Town 54th Anniversary – 1970 to 2024… Kaieteur Sports – Rose Hall Town,  Guyana’s smallest town would be a buzz of activities between the 14th to the 22nd of September as the town celebrates 54 years of attaining this status of Township. Rose Hall became a Township on the 20th of September 1970 under the leadership of Mr. Hubert Patrick Benn and over the years has developed into a modern business center in the ancient county. The small Township has a population of about 20,000 residents and is the home to award-winning clubs, Rose Hall Town Youth and Sports Club and St Francis Committee developers. The calendar of activities starts on the 14th of September under the theme simply the best and has been coordinated by members of the RHTYSC NAMILCO Thunderbolt Flour under  21 and first division teams. Members of the club and Town council would start the week of activities with the live TV program on NTN 26.  On Sunday the 15th there would be a cross-country race for attractive prices with dozens of athletes expected to participate while the Rose Hall Town Poonai Pharmacy under 13 team would play Guymine later in the same day at the Area H ground. Other activities for the anniversary planned by the NAMILCO cricket teams are an Essay competition for primary and secondary school students, A poster competition for all levels of schools, a basketball competition, a six-a-side football competition, an evening of music with the Guyana police force musical band, medical outreach, inter secondary school 10/10 tournament, Say no to drugs and alcohol March, pictorial exhibition, kiddies fun session, launching of RHT historical leaflet, tribute to outstanding residents, tribute to the long-serving municipality workers and honoring of the townships top grade 6 and CSEC students. Other planned activities include presenting the Coral Thrim  University of Guyana scholarship to a student while six students would be given the Zabeeda/Sherina Haniff Memorial educational bursary award. The RHTYSC would also be renaming the bowlers’ run-up at each end after four of its greatest players. The northern end would be the Royston and Esan Crandon bowling end while the southern end would bear the name of Assad Fudadinand Kevin Sinclair. The Rose Hall council is also working along with St Francis to organize an evening of gospel music and an afternoon of reflection with all the residents of the Township. The Township is currently being prepared for the activities with employees of the council placing dozens of national flags on posts across the town. The activities will be held under the patronage of senior government Minister Dr.Ashni Singh and the organizers are also working on erecting an ‘I love Rose Hall Town’ monument in the town before the end of the year. RHYSC secretary Hilbert Foster stated that the Rose Hall Town NAMILCO teams are mandated by the club’s management to organize the 54th anniversary celebration after Mayor, Dave Budoohad, approached the club for assistance to mark the anniversary. The club has established a special committee to oversee the calendar of activities under the leadership of Foster. Assistance has been received from several individuals and companies including Minister Collin Croal, Minister Zulfikar Mustafa, Guyana Breweries Inc, Guyana Beverage Company, Armco construction, J’s printery, Metro Office Supplies, Office Express, Coral Thrim, Region 6 Vice Chairman Zamal Hussain, Mohamed Raffik, I and R Construction, Bhesam Ramnauth Plumbing, Factory Price, Alim Shaw, NAMILCO, A.Allys and Sons, Danzie Store, Mohamed Alimed, Jermaine Bagot Construction  Firm, Davindra Persaud Construction, NTN Ch26, NCN Ch15, Bakewell, Deputy Commissioner Ravi Budram, Raymond  Haniff, Attorney at law Adrian Anamayah and Ramoo Funeral Home. The RHT NAMILCO Thunderbolt Flour teams are sponsored by the National Milling Company of Agricola. Related Similar Articles

Royals close out thriller at Waner Park Sep 08, 2024 Sports Dinuth Wellalage (2R) and Rovman Powell (R) of Barbados Royals celebrate the dismissal of Sherfane Rutherford of Saint Kitts and Nevis Patriots (Getty Images) Kaieteur Sports – Nyeem Young kept his composure at the death as Barbados Royals broke the hearts of St Kitts & Nevis Patriots with a thrilling two-wicket victory in the Republic Bank Caribbean Premier League (CPL). The Royals appeared set for a crushing win when they reduced the Patriots to 0/3 before weathering a rapid 82-run partnership between Wanindu Hasaranga and Mikyle Louis. After restricting the Patriots to 153/8 at Warner Park, the Royals lost Rahkeem Cornwall and Quinton de Kock early and the match was at a knife’s edge throughout a nerve-jangling chase. Needing eight runs off the last over bowled by Ryan John, the Royals’ nerves heightened when Jason Holder fell off the first ball after a superb catch at deep backward square by Josh Clarkson. But Young luckily inside edged to the boundary off the third ball before smashing a brilliant six over mid off on the penultimate delivery as the Royals won consecutive games to start the season It was their fifth straight victory against the Patriots, who are at the foot of the table with just one win. The Patriots made a poor start after being sent in to bat when their top three batters were dismissed for ducks – the first time that has occurred in CPL history. Spinner Maheesh Theekshana started the carnage on the second ball of the innings when he pinned Evin Lewis lbw. Two balls later Theekshana produced a cracking delivery that spun sharply and through the defences of Kyle Mayers, who trudged off in disbelief. The Patriots lost their third wicket when Andre Fletcher was lbw to Dunith Wellalage before the match suddenly flipped through a counterattack from Hasaranga and Louis as the Royals suddenly struggled for control amid an onslaught. Naveen-ul-Haq was on the receiving end and leaked 16 runs to cap a madcap PowerPlay. But Louis holed out in the ninth over leading to another collapse where the Patriots also lost Sherfane Rutherford and Hasaranga in the space of six balls. It could have been worse for the Patriots when Clarkson was given out lbw to Theekshana before he successfully reviewed. Clarkson struggled to get going, but batted through to the end and received support from John who smacked 29 off 14 balls. Just like the Patriots, the Royals lost a wicket on the second ball after Mayers knocked over Cornwall for a duck. Speedster Anrich Nortje had compatriot de Kock wincing in pain after a blow to the body before the batter hit back with a six over fine leg. De Kock was cleaned bowled in the fifth over by Mayers, who had patiently persisted around the wicket. Wellalage battled calmly through the middle overs before Young’s late heroics sealed a thrilling triumph for the Royals. Related Similar Articles

Wakenaam and VNS Over-40 to clash on Sunday in T20 fixture Sep 08, 2024 Sports Kaieteur Sports – Wakenaam and VNS Cricket Club will clash in an Over-40 T20 fixture on Sunday at the Wakenaam Community Center ground, Good Success. Mustak Mohamed The match is being sponsored by Mustak Mohamed and Khemraj Surujpaul, will bowl off at 13:00hrs and a keen contest is anticipated. The Wakenaam side will be led by Mustak Mohamed and includes the likes of Zameer Zaman, Seon Venture, Jaggernauth Manbodh, Wazir Khan and Gladewin Henry Snr. Mohan Chatram will spearhead VNS CC with support from Kennard Lewis, Unnis Yusuf, Aditya Kadarnauth, Davindra Ramdihal, Parsuram Jairam and Karnesh Gopie. Captain of the Wakenaam team, Mohamed, said his boys are confident despite little prepraration due to the recent inclement weather and is urging the fans to show support. Teams; Wakenaam Over-40-Mustak Mohamed (C) , Jaggernauth Manbodh, Cleon Venture, Seon Venture, Mahase Ramnarine, Zameer Zaman, Wazeer Mlohamed, Siddiq Mohamed, Wazir Khan, Heera Sukram , Gladewin Henry Snr., Kamal Khan, Nazeer Mohamed , Vijay Persaud, Nokta Moses, Safraz Mohamed  and Beesham Moses. Khemraj Surujpaul (Manager), Zaheer Mohamed (Coach). VNS CC- Mohan Chatram (C ), Davindra Ramdihal, Kennard Lewis, Bernard Lewis, Doodnauth Dhanraj , Michael Richardson, Parsuram Jairam, Leorayan Ramlakhan, Unnis Yusuf, Aditya Kadarnauth, Rajiv Kadarnauth and Karnesh Gopie. Related Similar Articles

Grand GDP: thanks Exxon, bigger thanks to Guyana’s grand viziers Drs. Jagdeo, Ali Sep 08, 2024 Features / Columnists, The GHK Lall Column Hard Truths by GHK Lall Kaieteur News – It’s time for drooling, a lush celebration of Guyana’s GDP for the first half of 2024.  The last time I recall coming across a GDP of 49.6%, well, I can’t remember.  Not even China at the peak of its economic trajectory came close.  I am boxing my head about whether those rampaging Asian Tigers-Singapore, South Korea and company-in their heyday were in proximity of a half year GDP of 49.6%, and come up empty. I give credit where it is due: a big thank you to Exxon.  Who said that crass oil company capitalists were ruthless and voracious?  But the biggest thank you is due the PPP Government best personified in the turkey trot combo of President Dr. Irfaan Ali and Oil Viceroy Dr. Bharrat Jagdeo.  Here is something to think about folks. If Drs. Ali and Jagdeo had found their onions, and lurched forward with skill and wisdom (and loads of courage), to change that odious 2016 oil contract, where would Guyana’s GDP be?  At the remote end, Exxon may have packed up their bags, disconnected their hoses, and caught the next American Airlines flight back to Spring, Texas (while billing Guyana for it).  Local GDP would have most likely been creeping around in the low single digits.  On the other hand, had the Ali-Jagdeo leadership tag team delivered on their sworn word to deal with that dastardly 2016 oil contract, Guyana’s GDP would have climbed deeper into the stratosphere.  A mere 2% more (4% total) in royalty negotiated, with a less burdensome cost recovery regime would have blown up all the conventional GDP numbers favored in the halls of academy.  A new textbook would have been written with some new formula to measure this GDP monster in Guyana. GHK Lall Yeah, Guyana’s GDP is a monster.  But it is our monster to be coddled and cherished.  My hang-up is why is it that with such a monstrous GDP (thanks to Exxon, Ali, and Jagdeo) that the rank-and-file in Guyana are forced to live like midgets?  The bigger and more warming the GDP number, the smaller and colder Guyanese are.  Where’s the beef, Dr. Bharrat?  Now if that is offensive to his godless sensitivities, I apologize and respectfully redirect the question to Excellency Ali, who should have no qualms about my choice of meat.  How is it Excellency Jagdeo and my good friend, the esteemed President Ali, that the more exciting Guyana’s GDP is, the more despairing ordinary Guyanese are?  I see more than a great, big disconnect at work.  I see enormous disillusionment taking hold of citizens.  The oil is theirs, the big bang GDP is because of that same oil, but Guyanese are forced to wait with tongue hanging out, like some pitiful dog, for the first round of election generosity. To the president and Vice President, I say (with hat in hand, of course) that every Guyanese should be marching in lockstep with those GDP numbers.  Their ability to look at food prices and laugh, their standard of living, and their quality of life, should all be cruising at 35,000 feet.  With a GDP about which Guyana can now consistently boast, the Guyanese people should, at least, also have something to boast about, too.  It is definite that both grand leaders agree privately with what is said here but cannot admit to any of this publicly.  The better approach, the now settled mantra, is to highlight subsidies, and to preach sweetly about how caring and kind the PPP Government (and they themselves) have been to Guyanese.  One would think that they just shoved their hands in their pockets and gave a nice raise to citizens.  Since the Ali-Jagdeo tango prefers to deal in stutter steps and footsies, I give them a hand.  Indeed, there are Guyanese who have reaped their rewards (ten, twenty, a hundred fold).  With the permission of this illustrious Guyanese leadership duet, I take the liberty of identifying those Guyanese who have come into their own on the back of the largely oil driven GDP.  There is the PPP aristocracy class, first in line.  I only have one house and a couple of famished dogs.  Then, there is contractor and pretending-to-be-contractor class, whose contributions to and extractions from Guyana’s GDP borders on the criminal.  Then there is the insidious insider class (aka the friends, family and favorite class) whose pickings closely resemble some of those princes in oil rich Africa, and with as much transparency.  The Middle East of emirates and Gulf States, is still there, isn’t it? Those have had it good and great.  May I be excused for asking of President Ali and VP Jagdeo, how about doing something that is truly tangible and durable for the little people?  The minimum wage Guyanese: imagine living in a country blessed with an incredible half-year GDP of 49.6%, and this group of economic bottom feeders are compelled to contend any way they can with approximately US$300 per month.  Now that may be hailed as a livable wage by President Ali and VP Jagdeo, but I invite both compassionate Guyanese leaders to try that for a half year and see if the tears don’t flow from their eyes in copious quantities.  Oh, and another matter, brothers Ali and Jagdeo (appreciate the honor), if that is a livable wage, then it sure as hell can’t be for people.  The puppy chow and prime cuts crowd may be able to manage on US$300 monthly, and still have some funds left for an overdue animal manicure.  But not regular people, no gents.  As an aside, though it doesn’t have universal application, a close companion of highflying GDP is rising inflation.  So, I submit that Guyanese are lined up for (experiencing) a two-fisted kick to the face.  A paltry to meaningless share of Guyana’s GDP richness and the slap in the face of rising prices for a round-the-year bonus. I am sure that Jagdeo the Great and Ali the Greatest will agree with me secretly that something must be done for struggling Guyanese.  Their challenge is how much and when.  Good luck, Guyanese.  I think that ran out when the oil started gushing. (The views expressed in this article are those of the author and do not necessarily reflect the opinions of this newspaper.) Related Similar Articles

Talking Dollars & Making Sense: Demystifying the Balance Sheet Sep 08, 2024 News Kaieteur News – Welcome back to Talking Dollars & Making Sense. Today, we’re unraveling the mysteries of the Balance Sheet—a fundamental financial statement that every entrepreneur should understand. Whether you’re starting out or looking to expand your business, grasping the Balance Sheet is crucial for making informed decisions. We’ll use real examples from Demerara Distillers Limited’s (DDL) 2023 Annual Report to bring these concepts to life. What is a Balance Sheet? Imagine taking a financial snapshot of your business at a specific moment in time. The Balance Sheet is exactly that—a picture showing what your business owns, what it owes, and the owner’s equity (your stake in the company) at a particular date. It’s called a “balance sheet” because it balances out: Assets = Liabilities + Equity This equation must always be in balance. Think of it like weighing scales where both sides need to be equal. Why is the Balance Sheet Important? The Balance Sheet is essential for assessing the financial health of your business. It tells you if you have enough resources to cover your debts, whether you’re growing, and whether you’re on track for long-term success. Understanding your Balance Sheet also helps you communicate with investors and lenders—they want to know your business is stable before giving you money. The Key Sections of a Balance Sheet Now, let’s break down the three key parts of a Balance Sheet—assets, liabilities, and equity—and use DDL’s 2023 Annual Report to bring these concepts to life. Assets: What Your Business Owns Assets are the resources your business controls that can provide future economic benefits. Think of assets as everything that your business can use to grow or pay off debts. Types of Assets There are two types of assets: current assets and non-current assets. Current Assets: These are assets that your business expects to convert into cash or use within a year. They are the “liquid” parts of your business—things you can quickly turn into cash to pay your bills. For DDL, current assets in 2023 were G$25.93 billion, an increase from G$22.98 billion in 2022. Key current assets include: Cash: G$927.7 million, down from G$1.29 billion in 2022. This represents the cash DDL has in hand or in the bank. Cash is crucial because it helps a business stay flexible and responsive. Inventories: G$20.71 billion, up from G$17.49 billion in 2022. Inventory is the stock of goods ready for sale. A growing inventory can be a good sign if sales are expected to increase but could be a problem if goods are not selling as expected. Trade Receivables: G$2.78 billion, down from G$3.05 billion in 2022. This represents money customers owe to DDL. A decline here could mean customers are paying faster, which is good, or that DDL is selling less on credit. Non-Current Assets: These are long-term assets that your business will use for more than a year. They include things like equipment, buildings, and long-term investments. DDL’s non-current assets in 2023 were G$41.12 billion, up from G$37.83 billion in 2022. Examples include: Property, Plant, and Equipment: G$22.73 billion, up from G$17.15 billion in 2022. This includes factories, machines, and other physical assets that help produce goods. Investments: G$9.79 billion, slightly down from G$10.11 billion in 2022. These are long-term investments, which might be shares in other companies or bonds. Retirement Benefit Assets: G$8.46 billion, down from G$10.43 billion in 2022. This is the amount DDL has set aside to cover future pension obligations for its employees. Why Assets Matter Assets are your business’s tools and resources. The more valuable and well-managed your assets, the more power you have to grow, pay off debts, and stay competitive. It’s essential to regularly review your assets to ensure they’re working for you efficiently. Liabilities: What Your Business Owes Liabilities are your business’s debts—what you owe to others. Just like with assets, liabilities are split into current liabilities and non-current liabilities. Types of Liabilities Current Liabilities: These are debts your business needs to pay off within the next year. Think of them as your short-term financial obligations, like rent, utility bills, or money owed to suppliers. DDL’s current liabilities in 2023 were G$8.39 billion, up from G$6.71 billion in 2022. Some of the key components include: Trade Payables: G$4.05 billion, up from G$4.16 billion in 2022. This is the amount DDL owes to suppliers for goods and services they’ve already received. Current Borrowings: G$3.96 billion, up from G$1.98 billion in 2022. This represents short-term loans or debt DDL must repay within the year. Non-Current Liabilities: These are long-term debts, typically due in more than a year. These liabilities might include bank loans, bonds, or future tax payments. In 2023, DDL’s non-current liabilities totaled G$5.3 billion, up from G$3.17 billion in 2022. These include: Long-Term Borrowings: G$2.69 billion, up from G$0 in 2022. This shows DDL is taking on more debt, likely to finance expansions or new projects. Deferred Tax Liabilities: G$2.6 billion, up from G$3.16 billion in 2022. These are taxes DDL will need to pay in the future, but not within the next year. Why Liabilities Matter Liabilities represent what you owe to others and managing them carefully is essential for business survival. Too much debt can strain a business, especially if it can’t generate enough revenue to cover the costs. However, some debt is often necessary to grow a business, like taking out loans to invest in new equipment or expand operations. Equity: What’s Left for the Owners Equity is the value left over after subtracting liabilities from assets. In simple terms, it’s what belongs to the business owners (or shareholders, in the case of larger companies). Equity reflects the net worth of your business at any given time. Types of Equity For DDL, total equity in 2023 was G$53.35 billion, up from G$50.93 billion in 2022. Key components include: Issued Capital: G$770 million. This is the money that shareholders have invested in the business. It doesn’t change unless new shares are issued. Retained Earnings: G$44.10 billion, up from G$41.30 billion in 2022. Retained earnings represent profits that the company has decided to reinvest in the business rather than paying them out as dividends to shareholders. The growth in retained earnings shows DDL is keeping more profit within the company to fund future growth. Why Equity Matters Equity is a critical indicator of your business’s financial health. As your business grows, your equity should increase, showing that you’re building value. Investors and lenders pay close attention to equity because it reflects how much of the company is truly owned by its shareholders, as opposed to being financed by debt. How the Balance Sheet Works The Balance Sheet works by ensuring that the total value of what a company owns (assets) always equals the total amount of what it owes (liabilities) and what’s left for owners (equity). This balance is a crucial financial check—if the Balance Sheet doesn’t balance, there’s likely an error in the accounting. In DDL’s case, their Balance Sheet shows a healthy business. Their total assets in 2023 were G$67.05 billion, up from G$60.81 billion in 2022. This growth in assets, coupled with a rise in equity, demonstrates a financially strong company that is expanding its operations while managing its liabilities. Why Entrepreneurs Should Care As a business owner, understanding your Balance Sheet helps you make informed decisions about managing cash, paying off debts, and reinvesting profits. It shows you whether your business is growing or shrinking, whether you’re carrying too much debt, and how much value you’re creating for yourself or your shareholders. The Balance Sheet can also help you prepare for future financial needs, like applying for loans, attracting investors, or selling your business. Banks and investors often look at a business’s Balance Sheet to determine whether it’s financially stable enough to invest in or lend money to. Wrapping Up Understanding your Balance Sheet is crucial for managing and growing your business. It gives you a clear view of what your business owns, what it owes, and what’s left for the owners. With this information, you can make smarter decisions that will help your business thrive. In the next column, we’ll dive into more aspects of a company’s financial statements to make strategic business decisions. Until then, keep learning and keep making sense of every dollar. Related Similar Articles

Guyana’s Dr. Rita Persaud cops prestigious “Women Changemaker of the Year Award” Sep 08, 2024 News Kaieteur News – Dr. Rita Persaud, a Canada-based Guyanese University Professor, has been awarded the prestigious “Women Changemaker of the Year Award” by the Girl Child Education (GISR) Foundation of India. Canada-based Guyanese University Professor, Dr. Rita Persaud This recognition, which highlights exceptional women in various fields, was presented during the Fifth International Inspirational Women Awards (IIWA) 2024, held on July 27 in Delhi, India. The GISR Foundation is a non-government, not-for-profit organization registered under the Central Government’s Ministry of Corporate Affairs in India. The organization plays a proactive role in India’s development process by providing education to underprivileged Girl Children. GISR helps students find their passion, their aim and help them to have a better future. The organization notes that in a country where girls are worshipped as goddesses, for some reasons they are deprived of their basic rights such as an education. As such, the GISR Foundation, is dedicated to supporting girls’ education, selects only a few individuals each year to receive this distinguished award. The honour is part of an international initiative aimed at acknowledging individuals with outstanding achievements, exceptional performance, and extraordinary talent across various roles, including researchers, academicians, mentors, advisors, trainers, and thought leaders. In a congratulatory letter, the foundation praised Dr. Persaud for her remarkable contributions and unwavering commitment to excellence. “Your remarkable achievements have earned you this coveted recognition, and we are truly proud of you,” the letter stated. Dr. Persaud is a Professor, employed at Wilfrid Laurier University (WLU), Waterloo, and George Brown College (GBC), Toronto where she teaches human resources and business. Born in Guyana, South America, Dr. Persaud migrated in the 1980s to Canada, lived most of her life in Canada and has been continuing her education ever since. In Guyana, Dr. Persaud has become known for her philanthropic efforts and for generously donating millions of dollars worth of education material to the Ministry of Education, and the University of Guyana. Related Similar Articles