STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
5
SUSTAINING GROWTH, SECURING PROSPERITY
The State Enterprise Sector is comprised of
sixty (60) companies of which forty-eight (48)
are wholly owned, seven (7) are majority owned
and five (5) in which Government has a minority
shareholding.
These enterprises operate in the gas and
oil
industry,
infrastructure
development,
banking and financial services, manufacturing,
transport and communication, training, tourism,
agriculture, information technology and the
provision of social services.
The number of wholly owned companies
increased by four (4) in 2013 – the Atrius Life
Enterprises
Profit Before Tax
($ million)
Corporation Tax
($ million)
Foreign Exchange
($ million)
PETROTRIN
2,065.6
1,049.6
29,657.0
NGC
5,225.8
1,512.0
2,847.0
NEL
608.7
5.4
0.0
NP
51.4
16.6
524.0
Profit by Sector:
Sectors
Profit After Tax 2012 ($ million)
Energy and Energy Based
4,783.0
Financial Services
477.6
Manufacturing and Agro-Based
279.0
Services
(253.2)
Transport and Communication
16.0
TOTAL
5,302.4
DIVESTMENT
First Citizens Bank Limited launched an Initial
Public Offering (IPO) of shares on the Trinidad
and Tobago Stock Exchange on Monday 15th
July, 2013. Twenty percent of the shareholding of
the Bank was offered for sale to the public at an
offer price of $22.00 per ordinary share.
Also in fiscal 2013, three (3) companies were
deregistered: the Iron & Steel Company of
Trinidad and Tobago, CWC World Cup (2007)
Trinidad and Tobago Limited and Orange Grove
National Company Limited.
INTRODUCTION
Insurance Co. Limited, Clico Trust Corporation
Limited, Trinidad and Tobago Tourism Business
Development Limited and Trinidad and Tobago
Creative Industries Company Limited.
In fiscal 2012, Government’s equity holding in
these State Enterprises totalled $8,232.5 million
and a ROCE of 7.0% was realised. The Sector
also contributed to the economy through foreign
exchange earnings, employment, dividend
payments and taxes.
Enterprises that contributed significantly to
Government’s revenue in fiscal 2012 are outlined
hereunder:-
INTRODUCTION
