Interact with our

Live Studio

Video

Audio

Message

Colonial Life still insolvent because liabilities exceeds assets

Colonial Life still insolvent because liabilities exceeds assets

Finance Minister Colm Imbert

Finance Minister Colm Imbert

Colonial Life is still insolvent because its liabilities exceed its assets.

This update comes from Finance Minister, Colm Imbert.

The Acting Prime Minister gave the explanation as he responded to a daily newspaper article which focused on recently published financials of Clico.

Minister Imbert added that the article gave the impression that Clico made a profit of 5 billion dollars for 2014 which has led to speculation as to whether the company should be removed from under the control of the Central Bank.

However, Mr. Imbert explained that the 5 billion dollars in question came from proceeds of the sale of the Methanol Company MHTL.

CLICK TO LISTEN

Acting Prime Minister and Finance Minister, Colm Imbert.

COMMENTS

WORDPRESS: 1
  • comment-avatar
    Jerry Hussain 2 years

    I would suggest to the dear Hon. Ministry of Finance that instead of looking to destroy all interest/concerns of the persons who heavily invested in this company over the years he should focus his efforts more on doing the same process of analyzing liabilities/assets on Petrotrin where his fellow colleagues benefited immensely and plan to benefit even more from. This is our tax dollars at play here. And the extended fiasco there over time could better serve his time in this Ministry at this time. And of course I have not forgotten his track record outside T&T.