ANNUAL REPORT 2016
BUILDING A STRONGER REGION
TCL GROUP – ANNUAL REPORT 2016 OUR STRATEGIC FRAMEWORK Our Strategic Framework
Vision Building a Brighter Future
Create sustainable value by providing industry-leading construction products and Mission solutions to satisfy the needs of our customers in the Caribbean
Strategic Priorities Health, Safety & Customer Operational One Sustainable Environment Centricity Efficiencies TCL Returns
We leverage on our group’s expertise and footprint to establish best practices Business and common processes, in order to operate with agility and effectiveness to Model ultimately create value to all of our stakeholders
Values Safety Customers Excellence Leadership Integrity
Corporate Information 2 CONTENTS Corporate Social Responsibility 5 10-year Consolidated Financial Review 6 Share & Performance Highlights 8 Board of Directors 11 Corporate Governance 16 Group Chairman’s Review 19 Group Executive Committee 23 Managing Director’s Report & Management Discussion 2016 28 Directors’ Report 39 TCL Group Business Units - Principal Officers 41 Independent Auditor’s Report 51 Consolidated Statement of Financial Position 59 Consolidated Statement of Income 60 Consolidated Statement of Comprehensive Income 61 Consolidated Statement of Changes In Equity 62 Consolidated Statement of Cash Flows 63 Notes to the Consolidated Financial Statements 64
Design and Layout: Paria Publishing Co. Ltd. Main Photographers: Michael Bonaparte, Peter Lim Choy. Printing: Scrip J 1 TCL GROUP – ANNUAL REPORT 2016 CORPORATE INFORMATION
Board of Directors of Trinidad Cement Bankers Limited (Foreign) Mr. Wilfred Espinet (Chairman) CITIBANK N.A. Mr. Francisco Aguilera Mendoza 111 Wall Street (Deputy Chairman) New York, NY 10043 Mr. José Luis Seijo González U.S.A. (Managing Director) Mr. Alejandro Alberto Ramirez Cantu Auditors Mr. Arun K. Goyal Ernst & Young Mr. Ruben McSween 5/7 Sweet Briar Road Mr. Bryan Ramsumair St. Clair Mr. Jean Michel Allard Trinidad & Tobago, W.I. Mr. Nigel Edwards Ms. Alison Lewis Registrar & Transfer Agent Company Secretary Trinidad and Tobago Central Depository Limited Ms. Kathryna Baptiste 10th Floor, Nicholas Tower 63-65 Independence Square Managing Director - TCL Group Port of Spain Mr. José Luis Seijo González Trinidad and Tobago, W.I.
Registered Office Stock Exchange on which the Company Southern Main Road is listed: Claxton Bay Trinidad & Tobago Stock Exchange Trinidad & Tobago, W.I. 10th Floor, Nicholas Tower Phone: (868) 225-8254 63-65 Independence Square Fax: (868) 659-0818 Port of Spain Website: www.tclgroup.com Trinidad & Tobago, W.I.
Bankers Attorneys-At-Law Girwar & Deonarine (Local) Harris Court, 17-19 Court Street Republic Bank Limited San Fernando High Street, San Fernando Trinidad, W.I. Trinidad & Tobago, W.I.
M.G. Daly & Partners First Citizens Bank 115A Abercromby Street 38 Southern Main Road Port of Spain Marabella Trinidad, W.I. Trinidad & Tobago, W.I.
2 Johnson, Camacho & Singh Derek Ali First Floor, Briar Place 36 Gordon Street, 10 Sweet Briar Road Port-of-Spain St. Clair Trinidad, W.I. Port of Spain Trinidad, W.I. Hylton Powell 11A Oxford Road M. Hamel Smith & Co. Kingston 5, Eleven Albion Jamaica, W.I. Corner Dere & Albion Streets Port of Spain Clarke, Gittens, Farmer Trinidad, W.I. Parker House, Wildey Business Park Wildey Road Pollonais, Blanc, De La Bastide & Jacelon St. Michael 17-19 Pembroke Street Barbados, W.I. Port of Spain Trinidad, W.I. Hughes, Fields & Stoby 62 Hadfield & Cross Streets Ravi Hefffes-Doon Werk-en-rust Upper Floor, Abercromby Court Georgetown 84 Abercromby Street Guyana, South America Port of Spain Trinidad, W.I. Patterson Mair Hamilton 63-67 Knutsford Boulevard Alvin Fitzpatrick, S.C. Kingston 5 84 Abercromby Street Jamaica, W.I. Port of Spain Trinidad, W.I. Caribbean Juris Chambers Hannah Waverhouse Jason K. Mootoo P.O. Box 801 77 Abercromby Street The Valley Port of Spain Anguilla Trinidad, W.I. Kelsick, Wilkin & Ferdinand Gitanjali Gopeesingh P.O. Box 174 Chancery Chambers Fred Kelsick Building 108 Duke Street Independence Square South Port of Spain Basseterre Trinidad, W.I. St. Kitts, W.I.
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