Jamaicans are largely a bunch of jokers, we are like sitting ducks

For months there has been great debate about the provision of a 360MW generating plant in Jamaica until finally EWI was ushered in as the favoured bidder. No sooner had EWI won the bid, there was noise about the financial viability of the firm and their ability to undertake the project given the massive capital investment required.

The local utility watchdog (more like mongrel) indicated to the country, that an investigation will be carried out into the the firm EWI and that would have been undertaken by the FID here in Jamaica.

Just a week ago we got word that the investigations were complete and the files have been handed over to the OUR.

The National Integrity Action (NIA) and the Energy Monitoring Over Sight committee have both asked for the report to be made public and despite their appeal, the OUR has refused to budge, citing confidentially as their reason.

Now Energy World Corporation or EWC is the parent company of Energy World International and is listed on the Australian Stock Exchange ASX and is a publicly traded company.

Now EWC Corporation as a publicly listed company is supposed to disclose, as a matter of due course all related matters as it relates to the group to the ASX and that info  is to be made available to all investors.

What is curious and I have asked for clarification from the ASX, is why after winning a bid to undertake its single biggest project ever, EWC has not reported this material change to the ASX?

Why would EWC having won a bid for over US$700M not reported this major deal to the ASX ?

Something is not right here and I intended to get to the bottom of it one way or another.

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: