When political parties publish plans in their manifestos that they will impose a 10% property tax, they need to realize that a lot of people on St. Maarten are what is termed property-rich, but cash-flow poor. Even many apartment owners in St. Maarten seem to suffer from this description: property-rich but cash-poor. There may be many reasons for this. Poor financial planning, lack of any kind of budgeting or business planning, inadequate maintenance plans or lack of reservations for both expected and unexpected repairs are many of the factors that render a property owner property-rich, yet unable to generate any…
Author: The Publisher
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When it comes to money, trust is an important factor. As in all things we must trust in God. That is why it is printed on the dollar bill. Then we must trust in the money itself. Trust that when we get paid that the money will retain its value and purchasing power to allow us to buy the goods and services we need. Finally, we must trust in our fellow man. Trust that he will pay the money that is owed to us. Trust that the banks will keep our money safe. Trust the insurances companies will pay out…
GREAT BAY – Beijing businessman Trey Cui is the driving force behind the Pearl of china project in Little Bay, Cengiz Kucuk, founder of the Caribbean-China People Foundation says. Cui wants to establish a global center with showrooms and a convention center, private business offices and units to be used by high end Chinese corporations. The objective is to present their products and services to Caribbean islands and the Central and South American market. “This way they will get better purchase orders from their clients,” Kucuk said. “Instead of all potential buyers going to china for business conventions and fairs,…
“We found a year-round economic activity” GREAT BAY – Prime Minister William Marlin has reacted with dismay to the reaction “certain persons covering the event” posted on Facebook last Thursday while the presentation of finance Minister Richard Gibson at the university about the investment in a 326-room hotel and 450 apartments was underway. “The Chinese are coming ….. bad for the people …. gloom and doom,” is how Marlin characterized these reactions, calling them “unfortunate” while all this is taking place in election time. “All this is making people think that a bad thing is happening,” he said at yesterday’s…
The Pearl of China project in Little Bay has sent rumor mills in overdrive. It also has people concerned about the impact of this project on our infrastructure and of course on the environment. At this moment there is not enough information for a solid judgment. It is as simple as that. There is a preparatory resolution for the development of the area and there is the announcement that there will be a 326-room hotel and 450 apartments. Who is going to build this? Will foreign workers be brought in? Will local contractors get a piece of the action? Will…
That members of parliament at times grossly misunderstand the role they have to play in our parliamentary democracy became once more apparent from a press release issued by the united People’s party. Three MPs held what they labeled ‘preliminary talks’ with representatives of a hospital in Florida. The purpose of these talks – and the press release – is without any doubt to create confusion about the construction of the new hospital. What were these parliamentarians doing in Florida? On whose behalf were they talking with some medicine men in the US of A? Did Minister Emil Lee send this…
Campaign Jingle for Richard F. Gibson, Sr., the number 8 candidate on the National Alliance slate. Click here to listen to the jingle and watch the full video.
The Chinese are coming and they are coming in droves. Finance Minister Gibson made that announcement yesterday during a lecture at the university. Because the groundbreaking for the hotel project is on the agenda for September 17, a mere nine days before the elections, politicians will probably be quick to dismiss this as an election stunt. If it is, it’s a darn good one. We take the announcement of the finance minister at face value. After all, this could be exactly what the doctor ordered for our sluggish economy. Bringing one million Chinese tourists to the island will present its…
Chinese promise 1 million tourists; build large hotel and apartment project GREAT BAY – One million Chinese tourists every year, the construction of a 326-room hotel and showroom and 450 apartment suites in Belair at the location of the former Barbaron project will change the landscape of St. Maarten’s economy forever. On September 17, a 30-strong delegation from China will come to St. Maarten for the groundbreaking ceremony for the Belair project. “Ladies and gentlemen, we have struck the jackpot,” Finance Minister Richard Gibson said yesterday at a town hall lecture he hosted at the university of St. Maarten where…
GREAT BAY — “Tax reform without reforming the tax department is counterproductive,” Finance Minister Richard Gibson said in a meeting of the finance committee of parliament yesterday afternoon. “These two go hand in hand. Reforming the law with a tax department that is unable to carry out the reform is not going to give us what we are looking for.” The minister said that parliament has already adopted the framework for tax reform and that the legislation to bring the reform about is pending. “Tax reform is an expensive exercise. It has to be done carefully and cautiously in terms…
