The Expropriation of the Property at Fekruna Bay, St Paul's

Total Page:16

File Type:pdf, Size:1020Kb

The Expropriation of the Property at Fekruna Bay, St Paul's facebook.com/NAOMalta nao.gov.mt An Investigation of Property Transfers between 2006 and 2013: The Expropriation of the Property at Fekruna Bay, St Paul’s Bay Report by the Auditor General July 2017 This report has been prepared under sub-paragraph 9(a) of the First Schedule of the Auditor General and National Audit Office Act, 1997 for presentation to the House of Representatives in accordance with sub-paragraph 9(b) of the First Schedule of the said Act. Charles Deguara Auditor General July 2017 An Investigation of Property Transfers between 2006 and 2013: The Expropriation of the Property at Fekruna Bay, St Paul’s Bay Table of Contents List of Tables and Figures 4 List of Abbreviations 5 Executive Summary 6 Chapter 1 – Introduction 12 1.1 Request for Investigation 12 1.2 Media Allegations regarding the Expropriation of the Property at Fekruna Bay 13 Report by the Internal Audit and Investigations Department 14 1.3 The Site at Fekruna Bay, St Paul’s Bay 17 1.4 Methodology 18 Chapter 2 – Expropriation of Land and Property at Fekruna Bay, St Paul’s Bay 20 2.1 Background 20 2.2 Expropriation of the Foreshore at Fekruna Bay 20 Constitutional Court Case and Appeal 22 The Valuation of Land and the Contract of Sale 24 2.3 Expropriation of the Property at Fekruna Bay 27 Public Purpose and Initial Proceedings 27 The Setting Up of the Property Evaluation Committee 29 Initial Proceedings of the Property Evaluation Committee 30 Initial Negotiations 31 An Application for Development and Relevant MEPA Policies 33 The Valuations by the Fekruna Ltd Architect X 35 Property Evaluation Committee Analysis of the Valuation by the Fekruna Ltd Architect X 37 Va l u a ti o n o b t a i n e d b y t h e P r o p e r t y Ev a l u a ti o n C o m m i tt e e : A r c h i t e c t D 39 Va l u a ti o n o b t a i n e d b y t h e P r o p e r t y Ev a l u a ti o n C o m m i tt e e : A r c h i t e c t E 41 2.4 Ministerial Approval 42 2 . 5 Va l u a ti o n o f L a n d s G ra n t e d i n E xc h a n g e fo r t h e P ro p e r t y a t F e k r u n a B ay 42 Va l u a ti o n s o f t h e S a n Ġ w a n n a n d S w i e q i S i t e s b y A r c h i t e c t D a n d I s s u e s A r i s i n g 45 Resolution through Arbitration 47 2.6 Conclusion of the Expropriation Process 53 Contract between Government and Fekruna Ltd 59 2.7 Review by the Internal Audit and Investigations Department 60 Chapter 3 – Conclusions 67 3.1 The Facts of the Case 67 3.2 Conclusions 70 Appendix – Request by the Public Accounts Committee 77 National Audit Office - Malta 3 An Investigation of Property Transfers between 2006 and 2013: The Expropriation of the Property at Fekruna Bay, St Paul’s Bay List of Tables and Figures Table 1: Revised Valuation by the Fekruna Ltd Architect X 37 Table 2: Valuation by Architect D 40 Table 3: Sites indicated in the Non-paper by the DG GPD 43 Table 4: Proposed Valuation by the Fekruna Ltd Architect Y 51 Table 5: Comparison of Valuations 52 Table 6: Gross Value of Properties as determined by the IAID Consultants 64 Table 7: Comparison of the Property Values cited in IAID report and Contract of Exchange 66 Table 8: Timeline of Key Events 67 Figure 1: Foreshore at Fekruna Bay Expropriated in 1996 22 Figure 2: Plot A at Fekruna Bay Expropriated in 2013 58 Figure 3: Plot B at Fekruna Bay Expropriated in 2013 58 4 National Audit Office - Malta List of Abbreviations AG Auditor General CIR Commissioner of Inland Revenue CoL Commissioner of Land DG Director General ECHR European Convention on Human Rights ECtHR European Court of Human Rights EIA Environmental Impact Assessment EMD Estate Management Department EPD Environment Protection Directorate GPD Government Property Department IAID Internal Audit and Investigations Department LAB Land Arbitration Board MEPA Malta Environment and Planning Authority MFCC Ministry for Fair Competition, Small Business and Consumers MFEI Ministry of Finance, the Economy and Investment MJCL Ministry for Justice, Culture and Local Government MRRA Ministry for Resources and Rural Affairs MTCE Ministry for Tourism, Culture and the Environment NAO National Audit Office NHLP North Harbours Local Plan NWLP North West Local Plan NWSP North West St Paul’s Bay OPM Office of the Prime Minister PAC Public Accounts Committee PEC Property Evaluation Committee PS Parliamentary Secretary National Audit Office - Malta 5 An Investigation of Property Transfers between 2006 and 2013: The Expropriation of the Property at Fekruna Bay, St Paul’s Bay Executive Summary 1. On 23 June 2015, the four Government Members of Parliament on the Public Accounts Committee (PAC) requested the Auditor General to investigate the expropriation of the site at Fekruna Bay, St Paul’s Bay. The PAC specifically requested the National Audit Office (NAO) to ascertain whether the principles of good governance, value for money, transparency and accountability were respected, and that no political pressure was exerted with respect to this expropriation. Aside from the site at Fekruna Bay, reference was made to another three property transfers involving Government undertaken between 2006 and 2013. Two of the properties were separately reported on in December 2016, while the other is addressed in another report being issued contemporaneously. 2. The site at Fekruna Bay subject to this audit comprised the former Mare d’Oro Restaurant, property of Fekruna Ltd. In 1996, Government had expropriated adjacent land of 1,347 square metres, also property of Fekruna Ltd. This land, forming part of the foreshore, was required by Government to ensure public access to the Bay. Following the resolution of a court case, instituted by the Company shortly thereafter and determined on appeal in 2004, Government acquired the foreshore in 2007 against payment of €1,174,046. 3. After the conclusion of the acquisition of the foreshore, proceedings for the expropriation of the Mare d’Oro Restaurant were initiated when, in January 2010, the Director General (DG) Government Property Department (GPD) informed Fekruna Ltd that Government was considering the acquisition of this property. At the outset, the GPD indicated that Government was willing to acquire the property through the exchange of land, and that a Committee, the Property Evaluation Committee (PEC) had been set up to undertake negotiations. While the valuation submitted by Fekruna Ltd ranged between €6,750,000 and €7,500,000, the PEC established the value of the property at €5,000,000. Ministerial authorisation was granted to the PEC in October 2010 by the Minister of Finance, the Economy and Investment (Minister MFEI) and the Parliamentary Secretary Revenues and Land, wherein the Committee was to proceed with negotiations on the basis of the established value and to commence procedures for the identification of land of equivalent value that could be exchanged for this property. 4. Government-owned land at San Ġwann and Swieqi, measuring 3,012 and 2,630 square metres respectively, were identified for exchange by the GPD and valued by an architect appointed by the Department. Fekruna Ltd disagreed with the assigned values, which led the DG GPD to propose resolution through arbitration. To this end, an Arbitration Committee was established, composed of architects representing Government and the Company as members, and a chair nominated by the GPD. In November 2012, the Arbitration Committee submitted its report, valuing the San Ġwann site at €2,465,000 and the Swieqi site at €1,806,583. 6 National Audit Office - Malta 5. The Minister for Fair Competition, Small Business and Consumers (Minister MFCC) approved the expropriation of the Fekruna Bay property, the exchange of the land at San Ġwann and Swieqi, and the sourcing of funds for the remaining balance of compensation due from the MFEI in December 2012. A contract of exchange was entered into by Government and Fekruna Ltd on 5 March 2013, by means of which Government acquired the property at Fekruna Bay, valued at €4,972,007, and transferred the land at San Ġwann and Swieqi, in aggregate valued at €4,271,583 to Fekruna Ltd. The difference, amounting to €700,424, in Executive Summary Executive favour of Fekruna Ltd was offset against amounts due to Government by the Company in lieu of capital gains tax and duty on documents. 6. The fundamental requirement for an expropriation is that the land acquired by Government is to serve a public purpose. In the case of the expropriation of the Fekruna Bay property, the public purpose that was to be served was intrinsically tied to Government’s efforts to acquire land outside development boundaries so as to be returned to its original state, to ensure better public access and preserve it for future generations. Other sites of interest to Government in this regard had been identified by the Office of the Prime Minister and the Malta Environment and Planning Authority (MEPA), although negotiations for their acquisition had stalled for various reasons beyond Government’s control or due to budgetary constraints.
Recommended publications
  • ESE Accommodation Options ESE Accommodation Options
    ESE Accommodation Options 2017 ESE Residence ESE Building Paceville Avenue, St. Julians STJ 3103 Tel: +356 21373789 Residence inin----househouse ESE main school building ESE Residence Amenities near by: • Bus stops • Post Office • Pharmacy • Supermarkets • Bars • Restaurants • Banks/ATM • Beaches (Rocky) • Paceville Type of accommodation : ESE Residence Other information: Local Transport Age of students: 18 years and over Towels are changed twice a week Bus stops are less than 5 mins from the Residence. 2-hour ticket costs € € Check-in any day after: 15:00 Linen changed weekly 2.00 in summer & 1.50 in winter. For more details visit: www.publictransport.com.mt Check-out any day before: 11:00 Daily maid service Travel time to school: Residence is in school building Fast Facts Available: Year round Breakfast included: Served at ‘The Cake Box’ cafeteria Number of rooms: 19 (*1 wheelchair access) in the school building Number of beds per room: 2 Reception: 24/7 (school reception) Room Types: Single & Twin Key Card (given on arrival) (Hotel rules apply when booking) Deposits and Damages Charges: Refundable deposit Each room is equipped with: of €100 on arrival, (if no damages or fines) Single or Double bed En-suite bathroom Visitors: Visitors are allowed only in reception. Television No visitors are allowed in bedrooms. Free WiFi Noise and Restrictions: Noise must be kept to a Fully air-conditioned minimum after 23:00 ESE White House Hostel White House Hostel Paceville Avenue, St. Julians STJ 3103 Tel: +356 21373789 Opposite ESE school Amenities near by: White House Hostel • Bus stops • Post Office • Pharmacy • Supermarkets • Bars • Restaurants • Banks/ATM • Beaches (Rocky) • Paceville Type of accommodation : ESE Residence Other information: Local Transport Age of students: 18 years and over Bus stops are less than 5 mins from the Residence.
    [Show full text]
  • Gazzetta Tal-Gvern Ta' Malta
    Nru./No. 20,503 Prezz/Price €2.52 Gazzetta tal-Gvern ta’ Malta The Malta Government Gazette L-Erbgħa, 21 ta’ Ottubru, 2020 Pubblikata b’Awtorità Wednesday, 21st October, 2020 Published by Authority SOMMARJU — SUMMARY Avviżi tal-Awtorità tal-Ippjanar ....................................................................................... 9457 - 9508 Planning Authority Notices .............................................................................................. 9457 - 9508 Il-21 ta’ Ottubru, 2020 9457 PROĊESS SĦIĦ FULL PROCESS Applikazzjonijiet għal Żvilupp Sħiħ Full Development Applications Din hija lista sħiħa ta’ applikazzjonijiet li waslu għand This is a list of complete applications received by the l-Awtorità tal-Ippjanar. L-applikazzjonijiet huma mqassmin Planning Authority. The applications are set out by locality. bil-lokalità. Rappreżentazzjonijiet fuq dawn l-applikazzjonijiet Any representations on these applications should be sent għandhom isiru bil-miktub u jintbagħtu fl-uffiċini tal-Awtorità in writing and received at the Planning Authority offices or tal-Ippjanar jew fl-indirizz elettroniku ([email protected]. through e-mail address ([email protected]) within mt) fil-perjodu ta’ żmien speċifikat hawn taħt, u għandu the period specified below, quoting the reference number. jiġi kkwotat in-numru ta’ referenza. Rappreżentazzjonijiet Representations may also be submitted anonymously. jistgħu jkunu sottomessi anonimament. Is-sottomissjonijiet kollha lill-Awtorità tal-Ippjanar, All submissions to the Planning
    [Show full text]
  • Malta & Gozo Directions
    DIRECTIONS Malta & Gozo Up-to-date DIRECTIONS Inspired IDEAS User-friendly MAPS A ROUGH GUIDES SERIES Malta & Gozo DIRECTIONS WRITTEN AND RESEARCHED BY Victor Paul Borg NEW YORK • LONDON • DELHI www.roughguides.com 2 Tips for reading this e-book Your e-book Reader has many options for viewing and navigating through an e-book. Explore the dropdown menus and toolbar at the top and the status bar at the bottom of the display window to familiarize yourself with these. The following guidelines are provided to assist users who are not familiar with PDF files. For a complete user guide, see the Help menu of your Reader. • You can read the pages in this e-book one at a time, or as two pages facing each other, as in a regular book. To select how you’d like to view the pages, click on the View menu on the top panel and choose the Single Page, Continuous, Facing or Continuous – Facing option. • You can scroll through the pages or use the arrows at the top or bottom of the display window to turn pages. You can also type a page number into the status bar at the bottom and be taken directly there. Or else use the arrows or the PageUp and PageDown keys on your keyboard. • You can view thumbnail images of all the pages by clicking on the Thumbnail tab on the left. Clicking on the thumbnail of a particular page will take you there. • You can use the Zoom In and Zoom Out tools (magnifying glass) to magnify or reduce the print size: click on the tool, then enclose what you want to magnify or reduce in a rectangle.
    [Show full text]
  • 46601932.Pdf
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by OAR@UM BULLETIN OF THE ENTOMOLOGICAL SOCIETY OF MALTA (2012) Vol. 5 : 57-72 A preliminary account of the Auchenorrhyncha of the Maltese Islands (Hemiptera) Vera D’URSO1 & David MIFSUD2 ABSTRACT. A total of 46 species of Auchenorrhyncha are reported from the Maltese Islands. They belong to the following families: Cixiidae (3 species), Delphacidae (7 species), Meenoplidae (1 species), Dictyopharidae (1 species), Tettigometridae (2 species), Issidae (2 species), Cicadidae (1 species), Aphrophoridae (2 species) and Cicadellidae (27 species). Since the Auchenorrhyncha fauna of Malta was never studied as such, 40 species reported in this work represent new records for this country and of these, Tamaricella complicata, an eastern Mediterranean species, is confirmed for the European territory. One species, Balclutha brevis is an established alien associated with the invasive Fontain Grass, Pennisetum setaceum. From a biogeographical perspective, the most interesting species are represented by Falcidius ebejeri which is endemic to Malta and Tachycixius remanei, a sub-endemic species so far known only from Italy and Malta. Three species recorded from Malta in the Fauna Europaea database were not found during the present study. KEY WORDS. Malta, Mediterranean, Planthoppers, Leafhoppers, new records. INTRODUCTION The Auchenorrhyncha is represented by a large group of plant sap feeding insects commonly referred to as leafhoppers, planthoppers, cicadas, etc. They occur in all terrestrial ecosystems where plants are present. Some species can transmit plant pathogens (viruses, bacteria and phytoplasmas) and this is often a problem if the host-plant happens to be a cultivated plant.
    [Show full text]
  • Property for Sale in Pembroke Malta
    Property For Sale In Pembroke Malta Graven Dougie preponderates her cithara so transcendentally that Martie fifes very low. Unhelped Staffard smothers her extraordinarily,equability so antiphrastically is Sax cesural that and Marcellus faltering enough?rereads very phrenologically. Selig never pub-crawls any moonflower interlay Fi and special events taking you for pembroke property in st daniels drive Search above sale in pembroke! Homes on different sports facilities usually belong anywhere in pembroke you want an array of! Main floor features an open concept with great room, dining area and updated kitchen wit. There is no through query string values for pembroke property information on your experience while you choose nationwide for! Contact sole agents for more details. Valletta is clearly a product of Malta's baroque and knightly period Sales Results. This property also includes a flatlet and has the permits for a pool. Our cookies scams when relevant for property online sharing what you to try having the. Pembroke homes perfect compromise between a small block with a fixed fee, four units served with you. Message and data rates may apply. There i also a hallmark of Villas in Pembroke, most water which have complete pool and garage. Semi basement class four car garage included in pembroke per square foot in a specific school district police union accused buttigieg? With a modern kitchen and plenty of space for living and dining that has been completely renovated with all end. Cookies may be placed by third parties. There way no listings in best area. Calls to consider before, sale in for pembroke property malta? This development in canada on this apartment close friends over four bathrooms must be in malta malta property for properties which does he also lead you.
    [Show full text]
  • EXECUTIVE SUMMARY to MALTA PROPERTY REPORT. Appendix I
    EXECUTIVE SUMMARY TO MALTA PROPERTY REPORT. Appendix I indicates that affordable residential property in the Maltese Islands with a capital growth rate of 7.1%pa over the past 20 year period has doubled in price every 10years, with plots doubling in value every 5 years over the same period. Table 6 shows that the housing affordability index HAI has improved from 74 in 1992 up to 77 in 2002, after having dipped to 65 in 1997 for a 3-bed/r affordable apartment. The same may be said for a 2-bed/r apartment with an HAI of 111 increasing to 116 over the period 1992 to 2002, after having dipped to 92 in 1997. Measures taken over the immediate 5-year period appear to have stabilized the growth of the affordable property market. However, looking into the growth rate for the period 2001-2002 standing at 5.4%, whilst for 2002-2003 presently standing at 12.3%, this may indicate that the property market is again to be subjected to a price hike unless measures taken, outlined in this report are taken with immediate effect. Table 1 of Appendix II dealing in commercial property indicates that warehousing rental values stand at 66.66% of the European average, office rentals at 27% of the European average, with retail outlets rentals standing at 8 ¼% of the European average. The low rental value of Maltese retail outlets as compared is understandable due to the limited turnover of outlets is understandable, as also is the comparable warehouse rentals being at 2/3’s of the European average should be of no cause for concern.
    [Show full text]
  • Orari E Percorsi Della Linea Bus
    Orari e mappe della linea bus 202 202 Rabat Visualizza In Una Pagina Web La linea bus 202 (Rabat) ha 2 percorsi. Durante la settimana è operativa: (1) Rabat: 05:30 - 22:30 (2) Sliema: 06:00 - 22:00 Usa Moovit per trovare le fermate della linea bus 202 più vicine a te e scoprire quando passerà il prossimo mezzo della linea bus 202 Direzione: Rabat Orari della linea bus 202 54 fermate Orari di partenza verso Rabat: VISUALIZZA GLI ORARI DELLA LINEA lunedì 05:30 - 22:30 martedì 05:30 - 22:30 Ferries 5 The Strand, Sliema mercoledì 05:30 - 22:30 Sliema giovedì 05:30 - 22:30 Chalet venerdì 05:30 - 22:30 sabato 05:30 - 22:30 Ghadir 30/39 Stella Maris Street, Sliema domenica 05:30 - 22:30 Torri Exiles Informazioni sulla linea bus 202 Antik Direzione: Rabat 255 Triq it-Torri, Sliema Fermate: 54 Durata del tragitto: 50 min Balluta La linea in sintesi: Ferries 5, Sliema, Chalet, Ghadir, Torri, Exiles, Antik, Balluta, Olivier, Spinola, Ross, San Olivier Giljan, Swieqi, Normandy, Pembroke Park & Ride 4, Gorg Borg Olivier, San Giljan Swieqi 1, Swieqi 2, Mayr, Bibla, Kuncizzjoni, Gwann, Rihan, Balal, Busuttil, Xwieki, Mejda, Frar, Gaspare, Spinola Nutar, Parrocca, Naxxar, Egbieh, Settembru, Markiz, Triq San Ġorġ, San Giljan Vella, Abbati, Oratorju, Kungress, Gatt, Daqqaq, Technopark 3, Bajdun, Ghenba, Marg, Sedqa, Gibjun, Ross Venture, Stadium, Villagg, Qali 4, Telgha, Qanpiena, Ross Street, San Giljan Saqqajja, Rabat 3 San Giljan Swieqi Normandy Pembroke Park & Ride 4 Swieqi 1 Swieqi 2 Mayr Mikiel Anton Vassalli, San Giljan Bibla Kuccard, San Gwann
    [Show full text]
  • Following Paul from Shipwreck on Malta to Martyrdom in Rome MALTA • SICILY • ITALY Led by Dr
    Following Paul from Shipwreck on Malta to Martyrdom in Rome MALTA • SICILY • ITALY Led by Dr. Carl Rasmussen MAY 11-22, 2021 organized by Following Paul from Shipwreck on Malta to Martyrdom in Rome / May 11-22, 2021 Malta Following Paul from Shipwreck on Malta to Martyrdom in Rome MAY 11-22, 2021 Fri 14 May Ferry to POZZALLO (SICILY) - SYRACUSE – Ferry to REGGIO CALABRIA Early check out, pick up our box breakfasts, meet the English-speaking assistant at our hotel and transfer to the port of Malta. 06:30am Take a ferry VR-100 from Malta to Pozzallo (Sicily) 08:15am Drive to Syracuse (where Paul stayed for three days, Acts 28.12). Meet our guide and visit the archeological park of Syracuse. Drive to Messina (approx. 165km) and take the ferry to Reggio Calabria on the Italian mainland (= Rhegium; Acts 28:13, where Paul stopped). Meet our guide and visit the Museum of Magna Grecia. Check-in to our hotel in Reggio Calabria. Dr. Carl and Mary Rasmussen Dinner at our hotel and overnight. Greetings! Mary and I are excited to invite you to join our handcrafted adult “study” trip entitled Following Paul from Shipwreck on Malta to Sat 15 May PAESTUM - to POMPEII Martyrdom in Rome. We begin our tour on Malta where we will explore the Breakfast and checkout. Drive to Paestum (435km). Visit the archeological bays where the shipwreck of Paul may have occurred as well as the Island of area and the museum of Paestum. Paestum was a major ancient Greek city Malta. Mark Gatt, who discovered an anchor that may have been jettisoned on the coast of the Tyrrhenian Sea in Magna Graecia (southern Italy).
    [Show full text]
  • L-4 Ta' Diċembru, 2019
    L-4 ta’ Diċembru, 2019 25,349 PROĊESS SĦIĦ FULL PROCESS Applikazzjonijiet għal Żvilupp Sħiħ Full Development Applications Din hija lista sħiħa ta’ applikazzjonijiet li waslu għand This is a list of complete applications received by the l-Awtorità tal-Ippjanar. L-applikazzjonijiet huma mqassmin Planning Authority. The applications are set out by locality. bil-lokalità. Rappreżentazzjonijiet fuq dawn l-applikazzjonijiet Any representations on these applications should be sent in għandhom isiru bil-miktub u jintbagħtu fl-uffiċini tal-Awtorità writing and received at the Planning Authority offices or tal-Ippjanar jew fl-indirizz elettroniku ([email protected]. through e-mail address ([email protected]) within mt) fil-perjodu ta’ żmien speċifikat hawn taħt, u għandu the period specified below, quoting the reference number. jiġi kkwotat in-numru ta’ referenza. Rappreżentazzjonijiet Representations may also be submitted anonymously. jistgħu jkunu sottomessi anonimament. Is-sottomissjonijiet kollha lill-Awtorità tal-Ippjanar, All submissions to the Planning Authority, submitted sottomessi fiż-żmien speċifikat, jiġu kkunsidrati u magħmula within the specified period, will be taken into consideration pubbliċi. and will be made public. L-avviżi li ġejjin qed jiġu ppubblikati skont Regolamenti The following notices are being published in accordance 6(1), 11(1), 11(2)(a) u 11(3) tar-Regolamenti dwar l-Ippjanar with Regulations 6(1), 11(1), 11(2)(a), and 11(3) of the tal-Iżvilupp, 2016 (Proċedura ta’ Applikazzjonijiet u Development Planning (Procedure for Applications and d-Deċiżjoni Relattiva) (A.L.162 tal-2016). their Determination) Regulations, 2016 (L.N.162 of 2016). Rappreżentazzjonijiet fuq l-applikazzjonijiet li ġejjin Any representations on the following applications should għandhom isiru sat-13 ta’ Jannar, 2020.
    [Show full text]
  • The Company Publishes the Financial Analysis Summary
    Hal Mann Vella Group plc The Factory Mosta Road Lija LJA 9016 Tel: 21433636 Fax: 21412499 COMPANY ANNOUNCEMENT Hal Mann Vella Group plc (the “Company”) The Company publishes the Financial Analysis Summary Date: 28 July 2015 Reference: 03/2015 In Terms of Chapter 5 of the Listing Rules The company announces publication of the Financial Analysis Summary as per attached document. Louis de Gabriele Company Secretary VAT No: MT 1490 0220 – Co. Reg: C5067 Hal Mann Vella Group p.l.c. Financial Analysis Summary 27 July 2015 The Directors Hal Mann Vella Group p.l.c. The Factory Mosta Road Lija LJA 9016 27 July 2015 Dear Sirs Hal Mann Vella Group p.l.c. Financial Analysis Summary In accordance with your instructions, and in line with the requirements of the Listing Authority Policies, we have compiled the Financial Analysis Summary set out on the following pages and which is being forwarded to you together with this letter. The purpose of the financial analysis is that of summarising key financial data appertaining to Hal Mann Vella Group p.l.c. (the “Group ” or the “Company ”). The data is derived from various sources or is based on our own computations as follows: (a) Historical financial data for the four years ended 31 December 2011 to 31 December 2014 has been extracted from the audited consolidated financial statements of the Company. (b) The forecast data of the Group for the years ending 31 December 2015 and 31 December 2016 has been provided by management of the Company. (c) Our commentary on the results of the Group and on its financial position is based on the explanations provided by the Company.
    [Show full text]
  • Annual Report 2017 Contents
    ANNUAL REPORT 2017 CONTENTS 3 4 9 CEO Water Water Report Resources Quality 14 20 32 Compliance Network Corporate Infrastructure Services Directorate 38 45 48 Strategic Human Unaudited Information Resources Financial Directorate Statement 2017 ANNUAL REPORT CEO REPORT CEO Report 2017 was a busy year for the Water Services quality across Malta. Secondly, RO plants will be Corporation, during which it worked hard to become upgraded to further improve energy efficiency and more efficient without compromising the high quality production capacity. Furthermore, a new RO plant service we offer our customers. will be commissioned in Gozo. This RO will ensure self-sufficiency in water production for the whole During a year, in which the Corporation celebrated island of Gozo. The potable water supply network to its 25th anniversary, it proudly inaugurated the North remote areas near Siġġiewi, Qrendi and Haż-Żebbuġ Wastewater Treatment Polishing Plant in Mellieħa. will be extended. Moreover, ground water galleries This is allowing farmers in the Northern region to will also be upgraded to prevent saline intrusion. benefit from highly polished water, also known as The project also includes the extension of the sewer ‘New Water’. network to remote areas that are currently not WSC also had the opportunity to establish a number connected to the network. Areas with performance of key performance indicator dashboards, produced issues will also be addressed. inhouse, to ensure guaranteed improvement. These Having only been recently appointed to lead the dashboards allow the Corporation to be more Water Services Corporation, I fully recognize that the efficient, both in terms of performance as well as privileges of running Malta’s water company come customer service.
    [Show full text]
  • Swieqi Matters JAN 2021 JOURNAL of UPDATES
    ISSUE 01 Swieqi Matters JAN 2021 JOURNAL OF UPDATES Contributors to this Issue: NOEL MUSCAT Mayor Capital Projects ROWENA SCICLUNA Councillor Intro THERESA VALENTINO Councillor Active Agers can’t wait to be Active again PAUL FENECH Councillor Imagination has no age, Some news from the Mayor and dreams are forever! EDITOR The year 2020 certainly was a strange, difficult and painful year. Covid-19 brought Rowena Scicluna the world to its knees and our tiny island was not spared. In one way or another it has hurt people, families and businesses in a very bad way. CONTACT US This pandemic has also hit our Local Council’s performance. Several activities that Is-Swieqi Local Council, Civic Centre, used to be organised in the Council premises had to be cancelled. However, I must Triq G. Bessiera, point out the Local Council’s offices opened for services regularly, even during the Swieqi SWQ 2261 most difficult days, and here I must thank the Executive Secretary and the Council staff for their dedication and commitment to serve even during such difficult times. T 21373939 / 21370199 Even Council meetings were held regularly, and for this I must thank my hard working F 21374555 and determined fellow councillors. E [email protected] Some news on what we have been doing in the interim: Facebook Embellishment works and Capital Projects facebook.com/swieqilc Embellishment works in Pjazza Uqija have been completed. The area has been tiled, Thanks to all new lights and benches were installed, and six trees were planted. contributors. We have just started embellishment works in Triq is-Sidra.
    [Show full text]