The award of million-dollar contracts to three companies owned by a serving police officer is now the subject of an audit initiated by State-owned Angostura Ltd and has been linked to the absence of the company’s chief executive officer from work.
Angostura Holdings Ltd (AHL) is reporting $111.1 million in group profit after tax for the period ended December 31, 2017. This represents an 8.9 per cent decrease in group profit after tax compared to the prior year.
AHL closed the financial period with cash and cash equivalents of $152.8 million. The company’s chairman Rolph Balgobin, commenting on the performance of the group, said for the period the group reported a 7.3 per cent decline in revenue.
Member of Parliament Ramona Ramdial has called for the resignation of the Board of Directors of Angostura Holdings Limited and for a new investigation to be launched into the sexual harassment allegations.
The following is a press release from the member of parliament:
The Honourable Ramona Ramdial, Member of Parliament for Couva North is calling for the immediate resignation of the Board of Directors of Angostura Holdings Limited and for a new investigation to be launched into the sexual harassment allegations made by a former female employee.