Privatisation in Tables PhaseII

PRIVATISATION IN TABLES:
Phase II- (1993-2011)
Prepared by:
Winston Brassington
Executive Secretary and Head-Privatisation Unit (PU)
December 2012
PRIVATISATION IN TABLES:
Phase II-(1993-2011)
Prepared by:
Winston Brassington
Exective Secretary and Head-Privatisation Unit (PU)

Contents
LIST OF ABBREVIATIONS........................................................................................................................4
EXECUTIVE SUMMARY ..........................................................................................................................7
TABLE 1: ALLOCATION OF PHASE II PRIVATISATIONS BY MAJOR MODE OF
PRIVATISATION ...............................................................................................................................9
TABLE 2: ANALYSIS BY SECTOR (PHASE II TRANSACTIONS) ............................................... 12
TABLE 3: ENTITIES LISTED AS PRIVATISED IN PHASE I ........................................................ 13
TABLE 4: ENTITIES EARMARKED FOR PRIVATISATION IN PHASE II.................................. 14
TABLE 5: ADDITIONAL ENTITIES REVIEWED FOR PRIVATISATION PHASE II ................. 16
TABLE 6: PHASE I ENTITIES WITH ADDITIONAL WORK CARRIED OUT IN PHASE II....... 17
TABLE 7: REVIEW OF PRIVATISATION TRANSACTIONS – KEY DATES ............................... 18
TABLE 7A: REVIEW OF PRIVATISATION TRANSACTIONS – VALUES .................................. 22
TABLE 7B: REVIEW OF PRIVATISATION TRANSACTIONS – SELECTION CRITERIA ......... 26
TABLE 8: REVIEW OF REAL ESTATE TRANSACTIONS – KEY DATES .................................. 30
TABLE 8A: REVIEW OF REAL ESTATE TRANSACTIONS – VALUES ...................................... 35
TABLE 8B: REVIEW OF REAL ESTATE TRANSACTIONS – SELECTION CRITERIA............. 39
TABLE 9: LEASE TRANSACTIONS – KEY DATES ...................................................................... 45
TABLE 9A: LEASE TRANSACTIONS – VALUES (EXCLUDING INDUSTRIAL ESTATES) ....... 49
TABLE 10: LEASE TENURE(EXCLUDING INDUSTRIAL ESTATES) ......................................... 52
TABLE 11: REVIEW OF RESTRUCTURING TRANSACTIONS - KEY DATES ......................... 54
TABLE 11A: REVIEW OF RESTRUCTURING TRANSACTIONS - VALUES (TRANSACTIONS
WITH VALUES) ...............................................................................................................................57
CHART 1: INSTITUTIONAL ARRANGEMENTS .......................................................................... 59
TABLE 12: GROSS PROCEEDS FOR PERIOD 1994 TO 2011 (BY SECTOR) .............................. 60
TABLE 13: GROSS PROCEEDS FOR PERIOD 1994 TO 2011 (BY TYPE AND ALLOCATION). 61
TABLE 13A: SUMMARY OF PROCEEDS TABLE ......................................................................... 61
TABLE 14: PRIVATISATION KEY ACHIEVEMENTS BY SECTOR AGAINST
ISSUES/OBJECTIVES...................................................................................................................... 62
TABLE [A]: REVIEW OF LINMINE REAL ESTATE TRANSACTIONS (TENDERED) ............... 66
TABLE [B]: REVIEW OF LINMINE REAL ESTATE TRANSACTIONS (ALLOCATED
THROUGH CHPA) ...........................................................................................................................71
TABLE [C]: REVIEW OF LINMINE COMMERCIAL SALE TRANSACTIONS ........................... 76
TABLE [D]: ECCLES LEASE TRANSACTIONS ............................................................................ 77
TABLE [E]: COLDIGEN LEASE TRANSACTIONS ....................................................................... 82
2
TABLE [F]: RUIMVELDT TRANSACTIONS ................................................................................. 85
TABLE [G]: GUYSUCO TRANSACTIONS ..................................................................................... 86
3
List of Abbreviations
ABC Aroaima Bauxite Company
AMC Aroaima Mining Company
BCGI Bauxite Company of Guyana Inc.
Bermine Berbice Mining Enterprise
Bidco Bauxite Industry and Development Co. Ltd.
Bosai Bosai Minerals China Ltd.
CIE Coldingen Industrial Estate
DDL Demerara Distillers Limited
EIE Eccles Industrial Estate
EOI Expressions of Interest
ESOP Employee Share Ownership Plan
GAC Guyana Airways Corporation
GAIBANK Guyana Agricultural & Industrial Development Bank
GBTI Guyana Bank for Trade & Industry
GCFS Guyana Cooperative Financial Services
GCIS Guyana Cooperative Insurance Services
GCMFB Guyana Cooperative Mortgage Finance Bank
GEC Guyana Electricity Corporation
GFL Guyana Fisheries Limited
GGWL Guyana Glassworks Limited
GNEC Guyana National Engineering Company
GNCB Guyana National Cooperative Bank
GNCB PHI GNCB Property Holdings Inc.
GNNL Guyana National Newspapers Limited
GNPL Guyana National Printers Limited
GNTC Guyana National Trading Corporation Limited
GOG Government of Guyana
GPL Guyana Power & Light
4
GPC Guyana Pharmaceutical Corporation
GRMMA Guyana Rice Milling & Marketing Authority
GSFL Guyana Stockfeeds Limited
GSL Guyana Stores Limited
GTC Guyana Telecommunications Corporation
GTL Guyana Timbers Limited
Guyoil Guyana Oil Company
Guysuco Guyana Sugar Corporation Inc.
IM Information Memorandum
IMF International Monetary Fund
LIDCO Livestock Development Company Limited
Linmine Linden Mining Enterprise Ltd.
MOF Ministry of Finance
NBIC National Bank of Industry & Commerce Limited (renamed Republic Bank)
Neocol National Edible Oil Company
Neofi National Edible Oil & Fats Inc.
NICIL National Industrial and Commercial Investments Limited
NPCL National Paint Company Limited
NIS National Insurance Scheme
OBMI Omai Bauxite Mining Inc.
OCC Old Corrugated Cartons
PB Privatisation Board
PCS Public Corporations Secretariat
PHI Property Holdings Inc.
PPFP Privatisation Policy Framework Paper
PU Privatisation Unit
RIE Ruimveldt Industrial Estate
RFP Request for Proposals
RUSAL Russia Aluminium Company
Sapil Seals & Packaging Limited
5
SBCI Small Business Credit Initiative
SPC Special Purpose Company
WOPE Wauna Oil Palm Estate
6
EXECUTIVE SUMMARY
This Privatisation in Tables Report is intended to present an updated but summarised version of
the report entitled ―Guyana’s Privatisation Program: The Institutional Framework and Results for
Phase II (1993 to 2008). This Report presents the following information in table format:
1. Tables 1 & 2—classifies 159 transactions handled by the Privatisation Unit (PU) by (i) sector
(9); (ii) company (29 related to Phase II and 5 related to Phase I), and (iii) major type of
transaction [159 transactions--sale of shares or trade sale (27), real estate sales (67), real estate
leases (34), and restructuring (31)];
2. Tables 3 & 4 lists all entities earmarked for privatisation in Phase I and II and the status of
privatisation;
3. Table 5 lists entities not earmarked for privatisation in the PPFP but worked on during Phase II
(11 entities);
4. Table 6 list entities from Phase I worked on in Phase II (6 entities);
5. Table 7 reviews the 27 privatisation transactions comprising Phase II. It lists the entity, the
transaction, the date advertised, the date approved by the Privatisation Board, the date of
Cabinet approval, and the date the transaction was completed;
6. Table 7a provides a summary of Phase II privatisations (27) with a brief description of each
transaction, the buyer, value realized and whether these proceeds were part of (i) a
capitalization, (ii) paid to the Treasury, (iii) paid to the entity (other than NICIL), or (iv) paid
to NICIL. The table shows a total of $17 B in privatisation proceeds—(i) $6.4 B related to
capitalizations, (ii) $8.8 B paid to Government, (iii) $1.4 B paid to the entity, and (iv) $0.4 B
paid to NICIL;
7. Table 7b provides information on Phase II privatisations (27) related to whether the transaction
was advertised and the selection criteria used. This information falls into three categories: (i)
advertised (21 transactions), (ii) negotiated sale following lack of bids after advertisement (2
transactions), and (iii) not advertised (4). Where a transaction was not advertised, an
explanation is provided as a footnote (4 cases);
8. Table 8 lists 67 real estate sale transactions, by sector, property description, date advertised,
date of Board approval, date of Cabinet approval, and date completed;
9. Table 8a details each real estate sale transaction, i.e. the buyer, the value realized, and who
these payments were made to. Of a total of $5.8 B in proceeds, (i) $1.2 B was paid to GOG,
(ii) $1.1 B paid to the entity, and (iii) $3.4 B paid to NICIL;
10. Table 8b provides additional details for each real estate sale transaction, such as whether the
sale was based on an advertisement, a negotiated sale following an advertisement, first option
to purchase to an occupant, or not advertised. Additionally, for each transaction, it indicates
whether the criteria for evaluation was based on price alone or price and other considerations;
11. Table 9 provides a list real estate leases (34 transactions), including description of the
properties, the date advertised, the date of PU Board approval, date of Cabinet approval, and
the date the transaction was executed;
12. Table 9a lists the 34 leases, the Lessee, and the total value of lease proceeds. Of $1.2 B in total
proceeds received (i) $0.3 B was paid to GOG and (ii) $0.9 B to NICIL;
13. Table 10 provides information showing each transaction and the tenure of each lease;
14. Table 11 provides information on restructuring transactions (27) -- date of PU Board approval,
date of Cabinet approval and date completed;
7
15. Table 11a shows total proceeds of $1.7 B in restructuring transactions, (i) $1.5 B is paid to
GOG, (ii) $0.1 B paid to the entity, and (iii) $0.05 B paid to NICIL;
16. Table 12 provides a summary of the total proceeds of $25.6 B from all of the above
transactions broken down by sector (9);
17. Table 13 provides a breakdown of total proceeds of G$25.6 B showing (a) the entity receiving
the proceeds (11 including GOG, NICIL, and 9 other entities) and (b) the split between (i)
privatisation ($16.9 B), (ii) real estate sales ($5.7 B) (iii) real estate leases ($1.2 B), and (iv)
restructuring ($1.7B);
18. Table 13a provides a breakdown of which agency the G$25.6 proceeds were paid to: (a) $6.4 B
was capitalized to various entities including GPL, OBMI, GA2000 (b) $11.7 B was paid to
GOG, (c) $2.6 B was paid to the entity (other than NICIL) owning the assets, and (d) $4.8 B
was paid to NICIL;
19. Table 14 provides a matrix showing privatisation key achievements against Issues/Objectives
facing the entity or sector (this table was last updated in 2008).
The Report also includes various appendices with special cases of property leases or transactions
that NICIL/PU is a party to:
1. Table A deals with 85 Linmine transactions that were tendered and summarizes the status of
each transaction;
2. Table B deals with 134 transactions where NICIL regularised/transferred ownership to
occupants of house lots in Linden, in association with CHPA; these house lots were previously
owned by Linmine;
3. Table C deals with 6 commercial property transactions in Linden;
4. Tables D, E and F deal with Industrial Estates - Eccles (84 plots), Coldigen (36 plots), and
Ruimveldt Industrial Estates (9 entities occupying 22 remaining lots not sold; the lots sold are
covered in the main report under real estate sale transactions);
5. Table G lists 21 transactions with a value of $1.1 B that PU/NICIL handled as agents for
Guysuco;
8
Table 1: Allocation of Phase II Privatisations by Major Mode of
Privatisation1
Sector # of Sale of Real Estate Real Estate Restructuri

Transactions Shares or ng
Trade Sale Sales Leases
Financial
1 GBTI 2 2
2 GNCB Trust 2 1 1
3 GNCB 5 1 2 1 1
4 GCMFB 4 1 3
5 NBIC 2 2
6 GCIS 4 1 2 1
7 GAIBANK 4 4
8 SBCI 3 3
Sub-total 26 7 4 2 13
Commercial
9 GSL 10 2 7 1
10 PHI 13 12 1
11 GNEC 14 1 8 4 1
12 Forte Crest 1 1
13 GNNL 1 1
14 GNPL 2 1 1
Sub-total 41 5 28 5 3
Manufacturing
15 GPC 10 2 5 1 2
16 GSFL 2 1 1
17 NEOCOL 5 4 1
1
It should be noted that although every reasonable effort has been made to ensure accuracy, it is possible that errors
or omissions may occur given that the information presented has only recently been compiled based on available
historical information.
9
18 GGWL 2 1 1
19 DDL 2 2
20 Sanata Textiles 6 2 3 1
21 SAPIL/CCI 1 1
Sub-total 28 10 7 5 6
Mining
22 Linmine 17 1 72 9
23 Bermine 5 1 2 2
24 BIDCO 6 3 2 1
25 ABC/AMC 3 1 2
Sub-total 31 2 11 15 3
Utilities
26 GEC 1 1
Sub-total 1 1 0 0
Transportation
27 GAC 2 1 1
Sub-total 2 1 0 1
Agricultural
3
28 Guysuco 1 1
29 Surapana Farms 1 1
Sub-total 2 1 0 1
Industrial Estates4
2
Sales to companies and organizations are counted individually. Sales to individuals via tender or allocation through
CHPA are counted as 1. (There were 219 individual transactions in total). See Tables A and B for details.
3
The Privatisation Unit as agent for Guysuco handled the sale of 21 properties. These transactions were all approved
by the Guysuco Board and Cabinet but are not counted in the privatisation totals. The proceeds from these
transactions were paid to Guysuco. See table G for details.
10
30 Ruimveldt Estate 7 6 1
31 Eccles Estate 1 1
32 Coldingen Estate 1 1
33 Others 10 7 3
TOTAL—Phase II 150 27 63 33 27
Phase I Transactions
34 GFL 2 2
35 GNTC 1 1
35 Quality Foods 2 1 1
37 National Paint Co. 1 1
38 Caricom Rice Mills 3 3
Sub-total 9 4 1 4
TOTAL—Phase I 159 27 67 34 31
& II
4
Ruimveldt, Coldingen and Eccles leases are counted as 1 each. Refer to the tables in the appendix for a breakdown
of the lessees for each individual estate.
11
Table 2: Analysis by Sector (Phase II Transactions)
Sector # of Entities #of Sale of Real Estate Restructuring

with transactions Shares or
Transactions Business Transactions
1 Financial 8 26 7 6 13
2 Commercial 6 41 5 33 3
3 Manufacturing 7 28 10 12 6
4 Mining 4 31 2 26 3
5 Utilities 1 1 1 0 0
6 Transportation 1 2 1 0 1
7 Agricultural 2 2 1 0 1
8 Industrial Estates 0 9 0 9 0
9 Others 0 10 0 10 0
Total 29 150 27 96 27
12
Table 3: Entities Listed as Privatised in Phase I
Enterprise Action Privatised
1. Guyana Timbers Limited (GTL) Trade Sale of business to CLICO Yes
80% of shares in GT&T (new company Yes

Guyana Telecommunications formed with assets from GTC) sold to
2. Corporation (GTC) Atlantic Tele Network
3. Guyana Nichimo Limited Trade Sale to National Hardware Limited Yes
Guyana National Trading Assets broken up and sold off to many Yes
4. Corporation Limited (GNTC) different buyers
5. Guyana Leather Craft Limited Assets broken up and sold to various buyers Yes
Livestock Development Company Portion of shares sold to Caribbean Food Yes

6. Limited (LIDCO) [partially] Corporation (CFC)
National Paint Company Limited Assets sold to Stephen Giddings Yes

7. (NPCL)
Trade Sale to Demerara Timbers Limited Yes

8. Demerara Woods Limited (DTL)
Guyana Transport Services Assets sold off in parts Yes

9. Limited
10 Quality Foods (Guyana) Limited Assets sold off in parts Yes
11. Sijan Plaza Restaurant Stocks/furniture sold Yes
12. Guyana Fisheries Limited (GFL) Various assets leased/sold Yes
Guyana Rice Milling & Broken up and sold off in parts Yes
13. Marketing Authority (GRMMA)
Guyana Stockfeeds Limited Miscellaneous assets sold No

14. (partially) (GSFL)
Trade Sale to E. C. Vieira Investments Yes

15. Soap and Detergent Limited Limited
13
Table 4: Entities earmarked for Privatisation in Phase II
Entity Enterprise Action Privatised

ID
1 Demerara Distillers Limited (DDL) Public offering of 19%, balance to Yes

Institutions
2 Seals & Packaging (SAPIL) Trade sale of 85% for G$1 after Yes
51% handed back to Government
by Ansa McAl for G$1
3 Forte Crest/ Guyana Pegasus– [3.58%] Sale to NIS Yes
4 Guyana Bank for Trade & Industry Sale and public offer Yes
(GBTI)
5 Guyana Pharmaceutical Corporation Trade sale and separate sales of Yes

(GPC) other assets
6 Guyana National Engineering Co Leases and sales Yes

(GNEC)
7 Guyana Stores Limited (GSL)5 Public offer, trade sale and asset Yes
sales
8 Guyana Oil Company (Guyoil) To be retained No
9 Guyana Stockfeeds (GSFL) Trade sale (retention of minority Yes

%)
10 National Edible Oil (NEOCOL) Trade sale, sale/lease of oil palm Yes
plantations
11 Hope Coconut Estate6 Not privatised No
12 Guyana Printers7 (GNPL) Only partially privatised--one No

building sold and business
consolidated.
13 Guyana National Co-operative Bank Trade sale Yes

(GNCB)
5
Legal action for an unpaid balance and other privatisation matters are currently before the High Court.
6
A review of this entity revealed substantial legal and operational issues to be resolved; land ownership had many
problems and multiple types of activities or occupation indicated that resolution of this was best handled by other
issues or via regularization of issues. To date, these matters remain under the Ministry of Agriculture.
7
This entity was advertised on two occasions.
14
Entity Enterprise Action Privatised
ID
14 GAIBANK Merged with GNCB, liquidated Yes
15 Guyana Cooperative Mortgage Finance Liquidated Yes

Bank (GCMFB)
16 Guyana Glassworks Limited (GGWL) Assets leased, company liquidated Yes
17 Guyana Sugar Corporation Limited To be retained No

(GUYSUCO)
18 Guyana Electricity Corporation Privatised via capitalisation as Yes

(GEC)8 GPL; handed back to GoG in
2003
19 Linden Mining Enterprises Limited Capitalisation Yes

(Linmine)
20 Guyana Airways Corporation (GAC) Privatised via capitalisation Yes
8
GEC was privatised via a 50/50 joint venture in October 1999; the private 50% interest was returned to GoG in April
2003 when the investor (AC Power) handed over to Government, their US$20 M investment for US$1.
15
Table 5: Additional Entities reviewed for Privatisation Phase II
21 GNCB Trust Sale of 90% of shares to a strategic investor Yes
22 GCIS Sale of shares to a strategic investor; sale of Yes

properties; Dividends paid out pre-sale
23 NBIC Sale of 47.5%9 of the shares to a strategic investor Yes
24 PHI (spin-off from GSL) Sale of various properties (process is on-going) Yes
25 Bermine Merged into AMC following lack of bids when Yes

advertised for privatisation; subsequently privatised
in 2006 to RUSAL as part of AMC
26 Aroaima Bauxite Company Following the handover to GoG of 50% for G$1 in Yes
(ABC) /Aroaima Mining November 2001, AMC was merged 2002 with
Company Bermine, following which RUSAL was invited to
invest and manage the operations; AMC was
subsequently privatised to RUSAL in March 2006
27 Surapana Farms Limited10 50.1 % sold to an employee company Yes
28 Bauxite Industry Company wound up into NICIL Yes

Development Company Ltd.
(BIDCO)
29 Sanata Textiles Lease of properties; wind-up via Order into NICIL Yes
and GCFS
30 Small Business Credit Liquidated Yes

Initiative (SBCI)
31 Guyana National Newspaper 10% ESOP completed to employees/vendors of the No

Limited (GNNL) company
9
Part of this sale included 17.5% of NBIC owned by the NIS.
10
Surapana land lease was terminated by NICIL in 2011
16
Table 6: Phase I entities with additional work carried out in Phase II
32 Sijan Plaza Restaurant Transfer of assets to GoG Yes
33 Quality Foods Sale/Lease of wharf and property Yes
34 National Paint Company Legal action initiated to recover and rescind Yes
Limited (NPCL) privatisation for substantial non-payment and
performance
35 Caricom Rice Mills11 Balance of purchase price and outstanding issues Yes
resolved
36 Guyana National Trading Sale of Beat Duty Complex Yes

Corporation (GNTC)
37 Guyana Fisheries Limited Sale of 2 properties/remaining properties leased Yes

(GFL)
11
Note that the divestment of the rice mills was done outside of the Divestment Unit set up for privatisation. As
such, it is not listed in Appendix IV of the PPFP.
17
Table 7: Review of Privatisation Transactions – Key dates
Sector Date Advertised Date of PU Date of Date

Board Cabinet Completed
Approval Approval
Financial
1 GBTI
1 (a) Sales of shares to a May & June 94 June-94 Jul-94 Jul-94

strategic investor
2 (b) Sale of shares in small May & June 94 June-94 Jul-94 Jul-94
lots (22 people)
2 GNCB Trust12
3 (a) Sale of 90% of shares Aug 00 - Feb 01 Dec-01 Mar-02 Nov-02

to strategic Investor
3 GNCB
4 (a) Sale of 100% of the Oct 01 - May 02 Nov-02 Nov-02 Mar-03

business of GNCB13
4 NBIC
5 (a) Sale of shares in small Jun-96 Jan-97 Apr-97 Aug-97

lots
6 (b) Sale of 47.5% to Jun-96 Jan-97 Apr-97 Feb-98

Republic Bank
5 GCIS
7 (a) Sale of 67% of shares May-96 Dec-96 Feb-97 Nov-98
Commercial
1 GSL
8 (a) Public offering (60%)- May 95 Mar-96 Apr-96 Dec-96

Sale of share – 19%
9 (b) Sale of 70% of Shares Dec-98 – Jun-99 Oct-99 Oct-99 Oct-00

to a strategic investor
12
Government retains a small interest which may be used to create an ESOP at some future date.
13
The privatisation was concluded via execution of various agreements and transfer of the assets and liabilities by
Vesting Order pursuant to the Public Corporation Act 1988.
18
Approval Approval
2 GNEC
10 (a) Sale of Equipment 1994 Feb-95 Jul-95 Oct-95
3 Forte Crest
11 (a) Sale of shares to NIS Not tendered14 Oct-94 Dec-94 1997

(3.58 %)
4 GNNL
12 (a) Sale of 10% interest to Not Tendered15 Jan-97 Oct-97 1997

workers
Manufacturing
1 GPC
13 (a) Sale of 60 % Queens Feb-Mar 99 July-99 Oct-99 Dec-99

Atlantic
14 (b) Sale of 30% in New Based on Feb 99 Jun-01 Sept-01 Dec-01

GPC to Queens Atlantic tender (with
adjustments)16
2 GSFL
15 (a) Sale of 35% of GSFL 1996 Jan-97 Feb-97 Oct-97
3 NEOCOL
16 (a) Sale of Farm- Property July-96 Dec-96 Feb-97 Oct-97
14
Forte Crest in Guyana was a private company; share transfers required the approval of Forte Crest. Given the small
shareholding (3.58%), the Privatisation Board and Cabinet approved the sale of the shares at the valuation price
determined by an independent Accounting Firm in Guyana.
15
The Government has generally treated employees preferentially. The GNNL10% ESOP was the first ESOP and was
conducted with a view of encouraging employee ownership and participation. This is not considered a privatisation,
as control still remains with the State.
16
The determination of the price of G$200 M for 30% of the shares of New GPC was based on the approval of the
Privatisation Board and Cabinet; the price was determined after considering a loss in 2000 and the assumption by
New GPC of G$81 M more in liabilities than anticipated at privatisation; the pro-rated price of the shares to the
original sale price was G$238 M—however, when adjusted for the pro-rated loss of 2000 and the increase in
liabilities, a downward reduction of G$45 M was arrived at yielding a price of G$192 M for the 30% share value; the
sale price was set at G$200 M. This type of adjustment is not unusual when dealing with the sale of shares, given
that the working capital position is constantly changing and can only be known after the date of privatisation. Other
examples where this principle has been applied include GSL, GEC, NBIC, Linmine, and AMC, to name a few.
19
Approval Approval
& Equipment
17 (b) Sale/ Lease of San Jan 1996 Dec-96 Feb-97 Oct-97
18 (c) Sale of Wauna Oil Based on earlier Feb-07 Mar-07 Jul 07

Palm Estate advertisements (4
times 96, 97,98, 2003)
19 (d) Sale of movable assets Based on earlier Feb-07 Mar-07 Jul 07

advertisements (4
times 96, 97,98, 2003)
4 DDL
20 (a) Sale of shares via 1994 1994 Dec-94 1995

public offering (4,200
persons)
21 (b) Sale of Shares via 1995 Jun-95 Aug-95 1995

public offering – 30
institutional investors
5 SAPIL/CCI
22 (a) Sale of 85% to Rand Not tendered Nov-98 Jan-99 Apr-99

Whitney
Mining
1 Linmine
23 (a) Agreement for 70 % 1994 – July 1996; Sept-04 Nov-04 Nov-04

30% JV with Cambior 98-00
2 ABC/AMC
24 (a) AMC Privatisation Not directly Dec-05 Dec-05 Mar-06

tendered (see
Bermine)
Utilities
25 1 GEC
(a) Capitalization via sale Mar-98 June-98 Jun-98 Oct-99

of 50% of GPL
Transportation
26 1 GAC
(a) Capitalization via Sale Dec-98 Feb-99 Feb-99 Apr-99
20
Approval Approval
of 51 % to AII (private
sector consortium)
Agricultural
1 Surapana Farms
17
27 (a) Sale of 50.1% interest Not tendered Feb-01 Feb-01 Jun-01
to employees
shareholders
17
A post privatisation study of phase 11 transaction is currently underway by Dr. G. Ganga and Mr. Winston
Brassington.
21
Table 7a: Review of Privatisation Transactions – Values
Paid to Paid to Paid to

Value Capitalized
Sector Buyer GOG Entity NICIL
(G$M) (G$M)
(G$M) (G$M) (G$M)
Financial 7,162 NIL 6,317 406 439
1 GBTI
Secure
Sales of shares to a
1 (a) International 950 950
strategic investor
Finance Co.
Sale of shares in
2 (b) small lots (22 Various 1 1
people)
2 GNCB Trust
HIH Mutual
Sale of 90% of and Fire
3 (a) shares to strategic Insurance Co. 439 439
Investor
3 GNCB
Sale of 100% of the

4 (a) RBL (TT) 2,707 2,301 406
business of GNCB
4 NBIC
Sale of shares in
5 (a) Various 2 2
small lots
Sale of controlling
Republic Bank
6 (b) interest to strategic 2,848 2,848
(TT)
investor
5 GCIS
Sale of 67% of Hand In Hand

7 (a) shares to strategic Mutual Life 215 215
investor Insurance Co.
Commercial 1,069 NIL 1,069 NIL NIL
1 GSL
Public offering-
8 (a) Various 229 229
Sale of share – 19%
22
Value Capitalized
(G$M) (G$M)
(G$M) (G$M) (G$M)
Sale of 70% of Royal

9 (b) Shares to a strategic Investments 738 738
investor18 Inc.
2 GNEC
10 (a) Sale of Equipment GNIC 56 56
3 Forte Crest
Sale of shares (3.58

11 (a) NIS 45 45
%)
4 GNNL
Sale of 10% interest

12 (a) Various
to workers
Manufacturing 1,379 NIL 1,373 5 1
1 GPC
Sale of 60 % of Queens Atlantic

13 (a) New GPC Inc. to Investments 458 458
strategic investor Inc.
Sale of 30% in New Queens Atlantic

14 (b) GPCInc. to Investments 200 200
strategic investor19 Inc.
2 GSFL
El Dorado
15 (a) Sale of 35% 135 135
Trading Inc.
3 NEOCOL
Sale of Farm-
16 (a) Property & GSFL 77 77
Equipment
18
Severance was paid out of this amount to employees.
19
The determination of the price of G$200 M for 30% of the shares of New GPC was based on the approval of the
Privatisation Board and Cabinet; the price was determined after considering a loss in 2000 and the assumption by
New GPC of G$81 M more in liabilities than anticipated at privatisation; the pro-rated price of the shares to the
original sale price was G$238 M—however, when adjusted for the pro-rated loss of 2000 and the increase in
liabilities, a downward reduction of G$45 M was arrived at, yielding a price of G$192 M for the 30% share value; the
sale price was set at G$200 M. This type of adjustment is not unusual when dealing with the sale of shares, given
that the working capital position is constantly changing and can only be known after the date of privatisation. Other
examples where this principle has been applied include GSL, GEC, NBIC, Linmine, and AMC, to name a few.
23
Value Capitalized
(G$M) (G$M)
(G$M) (G$M) (G$M)
Sale/ Lease of San San Jan Oil

17 (b) 4 3 1
Jan Palm Inc.
Agri-Solutions
18 (c) Sale of WOPE Technologies
Inc
Agri-Solutions
Sale of movable
19 (d) Technologies 2 2
assets
Inc
4 DDL
Sale of shares via

20 (a) public offering Various 359 359
(4,200 persons)
Sale of Shares via

public offering – 30
21 (b) Various 144 144
institutional
investors
5 SAPIL/CCI
22 (a) Sale of 85% Rand Whitney
Mining 3,363 2,413 NIL 950 NIL
1 Linmine
Agreement for 70
23 (a) Cambior 2,413 2,413
% 30% JV
2 ABC/AMC
Bauxite
24 (a) AMC privatisation Company of 950 950
Guyana Inc.
Utilities 3,686 3,686 NIL NIL NIL
25 1 GEC
Capitalization via
(a) 3,686 3,686
sale of 50% of GPL
Transportation 324 324 NIL NIL NIL
26 1 GAC
Aviation
Capitalization via
(a) Investments 324 324
Sale of 51 %
Inc.
24
Value Capitalized
(G$M) (G$M)
(G$M) (G$M) (G$M)
Agricultural 9 9
1 Surapana Farms
Sale of 50.1%
27 (a) interest to SASL 9 9
employees
GRAND TOTAL 16,992 6,432 8,759 1,361 440
25
Table 7b: Review of Privatisation Transactions – Selection Criteria
Key
A – Advertised and sold pursuant to terms in P – Price

advertisement
CR – Capability/financial credibility
AN – Advertised but no bids or inadequate bids BP – Business plan/development

received; subsequently sold via negotiations
EC – Employment considerations
NA – Not advertised
OT – Adherence to drafts of legal agreements
Tendered or Selection Criteria

not
Sector NA AN A P CR BP EC OT
Financial
1 GBTI
1 (a) Sales of shares to a strategic investor20 X X
2 (b) Sale of shares in small lots (22 people)21 X X
2 GNCB Trust22
3 (a) Sale of 90% of shares to strategic Investor X X X X X X
3 GNCB
4 (a) Sale of 100% of the business of GNCB X X X X X X
4 NBIC
5 (a) Sale of shares in small lots23 X X
6 (b) Sale of controlling interest to NBIC24 X X X X X
20
Offered G$150 per share.
21
The public was invited to purchase the shares at minimum price of G$130 per share.
22
Please refer to footnote 12.
23
The public was invited to purchase the shares at minimum price of G$40 per share. Cap of 1.8m shares.
24
The public was asked to bid for shares with a reserve price of G$100 per share. 1 bid received.
26
not
5 GCIS
7 (a) Sale of 67% of shares25 X X X X X
Commercial
1 GSL
8 (a) Public offering- Sale of share – 19% X X
9 (b) Sale of 70% of Shares to a strategic investor X X X X X X
2 GNEC
10 (a) Sale of Equipment X X
3 Forte Crest
11 (a) Sale of shares to NIS (3.58 %)26 X X
4 GNNL
12 (a) Sale of 10% interest to workers27 X X X
Manufacturing
1 GPC
13 (a) Sale of 60 % in New GPC to Queens Atlantic28 X X X X X X
14 (b) Sale of 30% in New GPC to Queens Atlantic29 X X
2 GSFL
25
Sold to second highest bidder based on evaluation criteria.
26
Forte Crest in Guyana was a private company; share transfers required the approval of Forte Crest. Given the small
shareholding (3.58%), the Privatisation Board and Cabinet approved the sale of the shares at the valuation price
determined by an independent Accounting Firm in Guyana.
27
The Government has generally treated employees preferentially. The GNNL10% ESOP was the first ESOP and was
conducted with a view to encouraging employee ownership and participation. This is not considered a privatisation,
as control still remains with the State.
28
Of the 6 bids received, 3 were shortlisted for further evaluation. The other 3 eliminated due to the failure to
respond and submit much of the required information. Overall, the one bidder who has been consistent and the
most honest in the submission of all information was Queens Atlantic.
29
Please refer to footnote 19.
27
not
15 (a) Sale of 35% of GSFL30 X X X X X
3 NEOCOL
16 (a) Sale of Farm- Property & Equipment X X
17 (b) Sale/ Lease of San Jan X X
18 (c) Sale of WOPE31 X X X X X
19 (d) Sale of Movable Assets X X X X X
4 DDL
20 (a) Sale of shares via public offering (4,200 X X

persons)32
21 (b) Sale of Shares via public offering – 30 institutional X X

investors33
5 SAPIL/CCI
22 (a) Sale of 85% to Rand Whitney34 X X X X
Mining
1 Linmine
23 (a) Agreement for 70 % 30% JV with Cambior35 X X X X X
2 ABC/AMC
24 (a) AMC Privatisation36 X X X X X
Utilities
30 nd
Highest bidder withdrawn. 2 highest bidder used.
31
Estate was advertised twice before and negotiations with three (3) separate potential investors but for lack of
funds failed. A proposal/Business Plan was received for production and sale of bio-diesel from palm oil produced.
32
Public was invited to purchase shares at a minimum price of G$12 per share with a cap of 10,000 shares per person.
33
Public was invited to purchase shares at a fixed price of G$10 per share. No cap on shares.
34
Prior proposal from Ansa Mcal withdrawn
35
Had existing management agreements
36
Had existing management agreements
28
not
25 1 GEC
(a) Capitalization via sale of 50% of GPL X X X X X X
Transportation
26 1 GAC
(a) Capitalization via Sale of 51 % to AII (private X X X X X X

sector consortium)
Agricultural
1 Surapana Farms
27 (a) Sale of 50.1% interest to employees shareholders37 X X X X X X
37
Workers took a loan from GNCB to finance the purchase. All proceeds from the loan went back into Surapana for
capital works. Unfortunately the company went bankrupt and the company has ceased functioning.
29
Table 8: Review of Real Estate Transactions – Key Dates 38
Date of Date of
Date
Sector Date Advertised Board Cabinet
Completed
Approval Approval
Financial
1 GNCB – Sale of Real

Estate via GNCB SPC
1 (a) Lots 1 & 2 North Proposal to

Road purchase rec’d from Jan-04 Feb-04 May-04
NBS
2 (b) Lot 31 & North 1/2 of

Lot 32 High Street, Sept 05 Oct-05 Nov-05 Feb-06
Charlestown
3 (c) Lot E 1/2 of 126 & Proposal rec’d 2011

127 Barrack and Oct-11 Nov-11 Dec-11
Parade Street Apr 07, Aug 10
2 GCIS
4 (a) Sale of Property at

Lot 16 Main & New
95, 96 Aug 96 Oct-96 Feb-97
Streets, New
Amsterdam
5 (b) Sale of Lot 46 Main

Sept 96, May 00 June-00 Jul-00 Oct-00
Street
Commercial
1 GSL
6 (a) 19 Bel Air Gardens First Option granted

Oct-96 Feb-97 May-97
to occupant
7 (b) 13 Bel Air Gardens 1996 Dec-96 Feb-97 May-97
8 (c) 26 Lyng Street 1996 Dec-96 Feb-97 May-97
9 (d) 18 Bel Air Gardens First Option granted

Dec-96 Feb-97 May-97
to occupant
10 (e) 15 Bel Air Gardens 1996 Dec-96 Feb-97 Aug-97
38
The real estate transactions do not include Guysuco transactions (where the PU acts only as agent) or does not
include short terms licenses or leases for a year or less.
30
Date of Date of
Date
Completed
Approval Approval
11 (f) 20-21 Water Street 1996 Aug-96 Oct-96 Jul-98
12 (g) 16 Bel Air Gardens 1996 Dec-96 Jan-99 Jun-99
2 PHI
13 (a) 1 La Penitence 1996, 1997 July-00 Jul-00 03
14 (b) 43 Bel Air Gardens 2000 Oct-00 Nov-00 Jan-01
15 (c) 3 Bel Air Gardens 2000 Oct-00 Nov-00 Jan-01
16 (d) 12 Bel Air Gardens 2000 Oct-00 Nov-00 Sep-01
17 (e) 1 Bel Air Gardens 2000 Oct-00 Nov-00 Jan-01
18 (f) 43-44 Water Street

Jan-03 May-03 Sep-03 Feb-04
(Zinc Bond)
19 (g) 49-52 Access Road

Jan-04 May-04 Jul-04 Feb-05
(Agencies Building)
20 (h) Tract A Young

2005 Nov-05 Nov-05 Mar-06
Street39
21 (i) 248-252 Kara Kara

n/a40 Jan-03 June-02 Aug -03
Linden
22 (j) Lot 18 Lamaha n/a41 Dec-07 Sept-08 D-08
23 (k) 304-305 East St. Dec-07 May-08

n/a42 Mar-10
(withdrawn) (reissued)
24 (l) 16-18 ( aka 17-19) May-01, Mar-03,

Aug -09 (PHI) Dec-09
Lombard St Dec-08 43
3 GNEC
25 (a) Sale of 26 Providence First Option granted

Jan-97 Feb-97 Sept-97
to occupant44
39
The building was owned by PHI; the land was leased from the State and subsequently transferred to NICIL.
40
Sold to NICIL at valuation price
41
42
Currently being used as doctor’s quarters by MOH. Sold to NICIL at valuation price to regularize occupancy.
43
Subsequently sold to NICIL at last valuation/offer price. 2 previous offers were withdrawn.
31
Date of Date of
Date
Completed
Approval Approval
26 (b) Mards Workshop Nov 94, 96 97 Apr-97 Nov-97
27 (c) Sale of Coverden Feb 94, 95 - Feb &

May 97 Aug-97 Dec-97
Clayworks Apr 97
28 (d) Sale of Property at 4

Burnham Drive, 1996 Jun 00 Jun-00 Aug-00
Linden
29 (e) Sale of property at

632 Hipani Oval, Oct-96 Oct 97 Jun-00 Aug-00
Linden
30 (f) Sale of property at 20 First Option granted

Apr 00 Jun-00 Sep-00
Bel Air Gardens to occupant
31 (g) Sale of property at 28

Main & Holmes 96 -97 Apr 00 Jun-00 Oct-00
Street
32 (h) Sale of property at

96 – 97 Oct 97 Jun-00 Oct-00
410 Oronoque Street
4 GNPL
33 (a) Sale of GNPL

Feb - Mar 03 Mar 03 Oct-03 Nov-03
Ruimveldt
5 GNTC
34 (a) Lot 14a Water St. 1994 May-94 May-94 Mar-95
Manufacturing
1 GPC
35 (a) Sale of Land July-96 Dec-96 Oct-97 Aug-00
36 (b) Sale of GPC Optical

Oct-98 Nov-98 Jan-99 Jan-99
Centre
37 (c) Sale of Land at First Option granted

Sept-98 Nov-98 Nov-00
Covent Garden to occupant
38 (d) Sale of La Penitence Sept -00 Jun-00 Jun-00 Aug-0045
44
Property was originally leased; sale was based on negotiations guided by the valuation.
45
Back dated to take effect from August, 2000
32
Date of Date of
Date
Completed
Approval Approval
by GPC
39 (e) Sale ofSub-Lot R Proposal to purchase

Plantation Farm rec’d from GSFL in Nov-02 Jan-03 May-03
46
1999
2 Sanata Textiles
40 (a) Sale of Parcel 4701 First Option granted

Feb-07 Feb-07 Jan-08
to occupant
41 (b) Sale of Parcel 4702 First Option granted

Oct-1047 May-07 Dec-10
to occupant
3 Quality Foods
42 (a) 16 Mudlot Kingston Aug – 99 Sept-99 Oct-99 o/s
Mining
43-
See Table A, B and C for Linmine Sales
49
Bermine
50 (a) Sale of 1-5 Esplanade Dec 04; Jan 05 (no

Road bids rec’d). Sold to Jun-06 May-06 Aug-06
occupant
3 BIDCO
51 (a) Sale of 134 Church

Mar-97 Feb-01 Nov-01 Jun-02
Street
52 (b) Sale of 94 Duke

May-June-07 Oct-08 Oct-08 Mar -09
Street
53 (c) Sale of 93 Duke

June-09 July-09 Dec-09 Sep -10
Street
RUIMVELDT
ESTATE
54 (a) Plot 7 RIE First Option granted Sept-96 Oct-96 Oct-00
46
Sold based on valuation price of G$15M.
47
Original PU board approval to lease with an option to purchase was granted in May-07, followed by a cabinet
decision as reflected. In 2010 QAII exercised the option to purchase, which was reaffirmed by the PU board in 2010.
33
Date of Date of
Date
Completed
Approval Approval
to occupant
55 (b) W 1/2 Plot 34

First Option granted
Ruimveldt Industrial Sept-96 Oct-96 June-02
to occupant
Estate
56 (c) W1/2 Lot 37 RIE First Option granted

Sept-96 Oct-96 Aug-07
to occupant
57 (d) Plot 21 RIE, 32 & 35 First Option granted

Sept-96 Oct-96 Nov-07
to occupant
58 (e) Plot 31 RIE First Option granted

Sept-96 Oct-96 Jan-10
to occupant
59 (f) Plot 33/34 RIE First Option granted

Sept-96 Oct-96 July-04
to occupant
OTHERS
60 (a) 55 Main Street Sept-Oct-05 Nov-05 Nov-05 Nov-07
61 (b) PLOT LP Liliendaal Oct-09 Nov-09 Nov-09 Dec-10
62 (c) South ½ of Lot 22

Hadfield St. (Sendall Feb-10 Sept-10 Sept-10 June-11
Place)
63 (d) Sale of Tract AYoung

Oct-Nov 05 Nov-05 Nov-05 Jan-06
St.
64 (e) Sale of Carib Banks- First Option granted Oct -00

May-00 May-00
to occupant
65 (f) Sale of A-A being

Based on
portion of lettered K Apr-11 Apr-11 Aug-11
application
Plantation Turkeyen –
66 (g) Tract RU Liliendaal Based on Aug -11

Sept-08 Sept-08
application
67 (h) Tract C and Lot E

Plantation Rome First Option granted
June 02 Aug 02 2002
(Guyana Fisheries to occupant
Ltd.)
34
Table 8a: Review of Real Estate Transactions – Values
Paid
Net Paid to Paid to
Value to
Sector Buyer Proceeds GOG Entity
(G$M) NICIL
(G$M) (G$M) (G$M)
(G$M)
Financial 484 477 118 359 Nil
1 GNCB – Sale of Real Estate

via GNCB SPC
1 (a) Lots 1 & 2 North Road New Building

141 139 139
Society
2 (b) Lot 31 & North 1/2 of Lot 32 Caribbean

42 41 41
High Street, Charlestown International Dist Inc.
3 (c) Sale of Lot E 1/2 of 126 & Precious Metals

181 179 179
127 Barrack and Parade Street Mines Inc.
2 GCIS
4 (a) Sale of Property at Lot 16

Main & New Streets, New NBIC 60 59 59
Amsterdam
5 (b) Sale of Lot 46 Main Street HIH 60 59 59
Commercial 1,539 1,522 608 706 208
1 GSL
6 (a) 19 Bel Air Gardens Justice Hanoman

24 24 24
Singh
7 (b) 13 Bel Air Gardens D. Singh 31 31 31
8 (c) 26 Lyng Street N. Parsram 4 4 4
9 (d) 18 Bel Air Gardens Canadian High

57 56 56
Commission
10 (e) 15 Bel Air Gardens P. Ramkumar 41 40 40
11 (f) 20-21 Water Street Muneshwar’s Ltd. 150 148 148
12 (g) 16 Bel Air Gardens Ian McDonald 38 37 37
2 PHI
13 (a) 1 La Penitence Land GPC 55 54 54
14 (b) 43 Bel Air Gardens Edward Armagon 27 27 27
15 (c) 3 Bel Air Gardens RNK Investments

34 34 34
Inc.
35
Paid
Net Paid to Paid to
Value to
(G$M) NICIL
(G$M) (G$M) (G$M)
(G$M)
16 (d) 12 Bel Air Gardens Paul Rambarran 22 21 21
17 (e) 1 Bel Air Gardens Timur Mohamed 30 30 30
18 (f) 43-44 Water Street M. Panday 105 104 104
19 (g) 49-52 Access Road JP Santos Co. Ltd. 215 212 212
20 (h) Tract A Young Street

NICIL 13 13 13
Building
21 (i) 248-252 Kara Kara Linden NICIL 96 95 95
22 (j) Lot 18 Lamaha NICIL 35 35 35
23 (k) 304-305 East St. NICIL 39 39 39
24 (l) 18-19 Lombard St. NICIL 43 42 42
3 GNEC
25 (a) Sale of GNEC property at

Macorp 210 210 210
Providence
26 (b) Mards Workshop J. Sadhu (Guyana

1 1 1
Agro Ind)
27 (c) Sale of Coverden Clayworks National Hardware

16 16 2 14
Ltd.
28 (d) Sale of Property at 4 Burnham

J. Hicks 1 1 1
Drive, Linden
29 (e) Sale of property at 632 Hipani

A. Pires 1 1 1
Oval, Linden
30 (f) Sale of property at 20 Bel Air

Merlin Udho 29 28 28
Gardens
31 (g) Sale of property at 28 Main &

Victor Greene 34 34 3 30
Holmes Street
32 (h) Sale of property at 410

Paul Hamilton 4 4 4
Oronoque Street
4 GNTC
33 (a) Lot 14 Water Street H. Rambarran 18 18 18
5 GNPL
34 (a) Sale of GNPL Ruimveldt Continental Group of

166 164 164
Companies Ltd.
36
Paid
Net Paid to Paid to
Value to
(G$M) NICIL
(G$M) (G$M) (G$M)
(G$M)
Manufacturing 1,508 1,494 253 NIL 1,240
1 GPC
35 (a) Sale of Land NEOFI 55 54 54
36 (b) Sale of GPC Optical Centre Dr. K. Bacchus 3 3 3
37 (c) Sale of Land at Covent National Hardware 26

26 26
Garden Ltd
38 (d) Sale of La Penitence by GPC GNSC 344 344 132 211
39 (e) Sale of Sub-Lot R Plantation Guyana Stock Feeds

15 15 15
Farm48 Ltd
2 Sanata Textiles
40 (a) Sale of Land (Parcel 4701) John Fernandes Ltd 320 316 316
41 (b) Sale of Land (Parcel 4702) QAII 698 689 689
3 Quality Foods
42 (a) Mudlot Kingston Pomeroon Oil Mills

47 47 38 9
Inc.
Mining 431 424 NIL NIL 425
1 Linmine
43 (a) Sale/Mortgage of Power Plant Texas Ohio
44 (b) Tract B of Lot 43 Noitgedacht Thakoordin

1 1 1
Mohabeer
45 (c) Lot 35 Plantation Noitgedacht SOL Guy Inc. 42 41 41
46 (e) Block SS Plantation

Vibert Rose 1 1 1
Noitgedacht
47 (f) Lot 42 Plantation Noitgedacht PPP 3 3 3
48 (g) Tract 'GF' Pln. Noitgedacht Safeco Inc. 1 1
49 (h) Sale of lots to residents Various
2 Bermine
50 (a) Sale of 1-5 Esplanade Road Oldendorff Carriers 162 160 160
48
Sold based on valuation price of G$15M.
37
Paid
Net Paid to Paid to
Value to
(G$M) NICIL
(G$M) (G$M) (G$M)
(G$M)
(Guyana) Ltd.
3 BIDCO
51 (a) Sale of 134 Church Street Clairans Enterprise 31 30 30
52 (b) Sale of 94 Duke Street Roraima Airways

140 138 138
Inc.
53 (c) Sale of 93 Duke Street Roraima Airways

50 49 49
Inc.
RUIMVELDT ESTATE 160 158 25 NIL 132
54 (a) Plot 7 RIE Vinelli Industries 26 25 25
55 (b) W 1/2 Plot 34 Industrial 7

M. Paul 7 7
Estate
56 (c) W1/2 Lot 37 RIE DDL 14 14 14
57 (d) Plot 21 RIE, 32 & 35 Precision

70 69 69
Woodworking Ltd
58 (e) Plot 31 RIE Twins Manufacturing 22 21 21
59 (f) Plot 33/34 RIE Hampton Inc. 21 21 21
OTHERS 1,632 1,614 205 1,407
60 (a) 55 Main Street Stanford Solomon 45 44 44
61 (b) Plot LP Lilendaal National Hardware

516 510 510
Ltd
62 (c) South ½ of Lot 22 Hadfield

Wooed Phillips 46 45 45
St. (Sendall Place)
63 (d) Sale of Tract A Young St. GBTI 201 198 198
64 (e) Sale of Carib Banks Banks DIH 207 205 205
65 (f) Sale of A-A being portion of

Multicinemas Guy
lettered K of Plantation 161 159 159
Inc
Turkeyen
66 (g) Tract RU Lilliendaal Scady Business Corp. 116 115 115
67 (h) Tract C and Lot E Plantation Pritipaul Singh

340 336 336
Rome Investments Ltd
GRAND TOTAL 5,754 5,689 1,209 1,065 3,412
38
Table 8b: Review of Real Estate Transactions – Selection criteria
Key
NA – Not advertised CR – Capability/financial credibility
A – Advertised and sold pursuant to terms in P – Price

advertisement
AN – Advertised but no bids or inadequate bids BP – Business plan/development

received; subsequently sold via negotiations
EC – Employment considerations
FO – Granted First occupant OT – Adherence to legal agreements

not
Sector AN NA FO A P CR BP EC OT
Financial
1 GNCB – Sale of Real Estate via GNCB SPC
1 (a) Lots 1 & 2 North Road X - - - - - - -
2 (b) Lot 31 & North 1/2 of Lot 32 High Street, - - - X X - - - -

Charlestown
3 (c) Sale of Lot E 1/2 of 126 & 127 Barrack and X X -

Parade Street49
2 GCIS - - - -
4 (a) Sale of Property at Lot 16 Main & New Streets, - - - X X - - - -

New Amsterdam
5 (b) Sale of Lot 46 Main Street - - - X X - - - -
Commercial
1 GSL
6 (a) 19 Bel Air Gardens - X X - -
7 (b) 13 Bel Air Gardens - - - X X - - - -
8 (c) 26 Lyng Street50 - - - X - - X - -
49
Property was advertised in April-07 and Aug-10. Highest bidder in 2010 failed to complete transaction. Proposal
received in 2011 for purchase. Value was higher than price for 2010 withdrawn bidder.
50
Bid awarded to second highest bidder. Considerations were given for business plan and he owned the adjacent lot.
39
not
9 (d) 18 Bel Air Gardens - X X - -
10 (e) 15 Bel Air Gardens - - - X X
11 (f) 20-21 Water Street51 X - - - -
12 (g) 16 Bel Air Gardens - X X
2 PHI
13 (a) 1 La Penitence Land 52 - X X
14 (b) 43 Bel Air Gardens - - - X X
15 (c) 3 Bel Air Gardens - - - X X
16 (d) 12 Bel Air Gardens - - - X X
17 (e) 1 Bel Air Gardens - - - X X
18 (f) 43-44 Water Street - - - X X
19 (g) 49-52 Access Road - - - X X
20 (h) Tract A Young Street Building53
21 (i) 248-252 Kara Kara Linden54
22 (j) Lot 18 Lamaha55 See Note on properties sold to GOG.NICIL
23 (k) 304-305 East St.56
24 (l) 18-19 Lombard St.57
3 GNEC
51
This was a sale to Muneshwar’s Ltd based on a proposal received for purchase as they were the owners of the
adjacent land and the existence of a land boundary dispute. Sale completed based on valuation.
52
Land was owned by PHI and Buildings were owned by GPC
53
The building was owned by PHI; the land was leased from the State and subsequently transferred to NICIL.
54
55
56
Currently being used as doctor’s quarters by MOH. Sold to NICIL at valuation price to regularize occupancy.
57
Subsequently sold to NICIL at last valuation/offer price. 2 previous offers were withdrawn.
40
not
25 (a) Sale of 26 Providence58 - X X - -
26 (b) Mards Workshop59 X - -
27 (c) Sale of Coverden Clayworks - - - X X
28 (d) Sale of Property at 4 Burnham Drive, Linden - - - X X
29 (e) Sale of property at 632 Hipani Oval, Linden - - - X X
30 (f) Sale of property at 20 Bel Air Gardens - X X - -
31 (g) Sale of property at 28 Main & Holmes Street - - - X X
32 (h) Sale of property at 410 Oronoque Street - - - X X
4 GNTC
33 (a) Lot 14 Water Street X X
5 GNPL
34 (a) Sale of GNPL Ruimveldt - - - X X
Manufacturing
1 GPC
35 (a) Sale of Land to NEOFI X - -
36 (b) Sale of GPC Optical Centre - - - X X
37 (c) Sale of Land at Covent Garden - X X - -
38 (d) Sale of La Penitence 60 X
39 (e) Sale of Sub-Lot R Plantation Farm X - - - -
2 Sanata Textiles
40 (a) Sale of Land (Parcel 4701)61 - X X - -
58
Property was originally leased; sale was based on negotiations guided by the valuation.
59 st nd
Advertised twice previously. 1 occasion bids were withdrawn. 2 occasion no bids were received. A lease was
subsequently issued and then the property was sold to the Lessee.
60
GNSC expressed interest to facilitate expansion and modernization plans.
41
not
41 (b) Sale of Land (Parcel 4702)62 - X X - -
3 Quality Foods
42 (a) 16 Mudlot Kingston63 X X X X X
Mining
1 Linmine
43 (a) Sale/Mortgage of Power Plant - X X - -
44 (b) Tract B of Lot 43 Noitgedacht - X X - -
45 (c) Lot 35 Plantation Noitgedacht - X X - -
46 (e) Block SS Plantation Noitgedacht - X X - -
47 (f) Lot 42 Plantation Noitgedacht - X X - -
48 (g) Tract 'GF' Pln. Noitgedacht X
49 (h) Sale of lots to residents X
2 Bermine X
50 (a) Sale of 1-5 Esplanade Road - X X - -
3 BIDCO
51 (a) Sale of 134 Church Street - - - X X
52 (b) Sale of 94 Duke Street - - - X X
53 (c) Sale of 93 Duke Street64 - - - X X X X
61
For this case, the sale price was based on a discounted value of the rent under a lease contract and the discounted
value of the valuation at the end of the lease (including the value of development works). The valuation excluding
development works carried out by the Lessee was determined to be G$165 M for app 6 acres of land.
62
After being advertised for sale, no proposals were received. In the mid-2007, a proposal was received from QAII for
the development of the compound with a US$27M investment plan. The proposal was for a lease with an option to
purchase. At the time of the proposal NICIL was facing continued vandalism and destruction to the property despite
the presence of security. In 2007, following the requisite approvals a lease was issued and in 2010 having satisfied
the conditions precedent to the exercise of the option to purchase, the property was sold at the current market
valuation of the property before the improvements were implemented.
63 st nd st st
Second proposal used. 1 and 2 had the same sale price, but 1 bidder had higher lease fees; however the 1
bidder proposal was incomplete in other respects.
42
not
RUIMVELDTESTATE
54 (a) Plot 7 RIE - X X - -
55 (b) W 1/2 Plot 34 Rumiveldt Industrial Estate - X X - -
56 (c) W1/2 Lot 37 RIE - X X - -
57 (d) Plot 21 RIE, 32 & 35 - X X - -
58 (e) Plot 31 RIE - X X - -
59 (f) Plot 33/34 RIE - X X - -
OTHERS
60 (a) 55 Main Street65 - - - X X
61 (b) Plot lettered LP being a portion of Block LPT. - - - X
62 (c) South ½ of Lot 22 Hadfield St. (Sendall Place) - - - X X
63 (d) Sale of Tract A Young St.66 X X X X X
64 (e) Sale of Carib Banks- - X X - -
65 (f) Sale of AA being portion of lettered K of X - - X - -

Plantation Turkeyen 67
66 (g) Tract RU Lilliendaal - X - - -
64
The highest bidder withdrew his bid after an award of tender was made to him. The third highest bidder was
chosen over the second highest bidder because of the expansion plans of the third bidder who also owned the
adjacent property. The second highest bidder had no plans for the development or use of the building. Bidders were
requested to provide a development plan on the submission of tender.
65 st nd
Sold to third highest bidder. 1 and 2 highest bidders withdrawn or non-commitment to purchase.
66
Third bidder was selected after withdrawal of 1st highest bidder given the submission of its detailed development
plan for the setting up of its banking headquarters. The 2nd highest bidder had submitted a half page narrative with
no details of its serious business intentions or proof of financing. This matter is currently engaging the attention of
the Courts.
67
The property was advertised and the highest bidder failed to provide any financial commitment or proof of his
ability to purchase and develop the land. Following the passage of time, the property was later sold with
negotitations to Multicinemas Guyana Inc. for the establishment of a modern state-of-the art entertainment complex
with multiplex cinemas that will result in job creation, increase revenue from taxes and provide social medium for
Guyanese. Value received was higher than the current market value and the highest bid receive earlier.
43
not
67 (h) Tract C and Lot E Plantation Rome X X
Cases where property was not advertised but sold GOG owned entities:
i. 248-252 Kara Kara Linden – sold to NICIL from PHI based on valuation. NICIL had assumed the
overall management of the PHI owned properties after the privatization of GSL, as the majority
shareholder in PHI. Large capital investments were undertaken by NICIL as part of a Government
policy to encourage the creation of jobs in the Linden area.
ii. Lot 18 Lamaha St. – this property was sold to NICIL after large capital works were undertaken and
paid for by NICIL.
iii. 304-305 East St. – This property has been and continues to be occupied by the Ministry of Health at
no rental value which resulted in a disadvantage to the minority shareholders. As a consequence it
was sold/transferred to NICIL for a value.
iv. 16-18 a.k.a 17-19 Lombard St. – This property was renovated by NICIL for use as the Supreme
Court Bond (GoG) with no real rental return in value. As a consequence, the property was
purchased by the majority shareholder from PHI for value.
v. Tract A Young St (building) – the building (former GSL Sports Club) was transferred to Property
Holdings Inc. prior to the privatisation of Guyana Stores Ltd. The majority shareholder NICIL
purchased this building at a current market valuation prepared by a private property valuator. The
property was later advertised for sale by public tender.
44
Table 9: Lease Transactions – Key Dates
Sector Date Date of PU Date of Date Completed

Advertised Board Cabinet
Approval Approval
Financial
1 GNCB
1 (a) 274 Peter Rose St. Proposal rec’d Aug-04 n/a Ongoing
2 GCMFB
2 (a) 118 Vryman’s Erven, 96-98 Sept 98 Nov-98 Ongoing (License

N.A. executed)
Commercial
1 PHI
3 (a) 248-252 Kara Kara Proposal rec’d May-0768 Aug-02 Ongoing (Lease
executed)
2 GNEC
4 (a) 2-12 Lombard Street July - Dec-94 Jun-95 Jul-95 Oct-95
5 (b) Block A of Bel-lu Feb 94 - Oct 04 Apr-07 May-07 Ongoing (Lease

Claybrick executed)
6 (c) Alproguy building/sale Resulted from a Jan-94 Dec-94 Jan-96

of equipment lease
arrangement
7 (d) GNEC property at Initially leased n/a n/a Converted to sale

Providence to Macorp
Manufacturing
1 GPC
8 (a) 201 Camp & Charlotte Resulted from n/a n/a Ongoing
St. windup of GPC
2 GGWL
9 (a) Former GGWL Feb 94, 96, 97 Jan 97 Apr-97 Ongoing (Lease
Soesdyke compound executed)
68
Proposal received through GoInvest. In keeping with GOG policy to develop the ICT sector, this was considered a
pilot project to provide Linden with employment and IT infrastructure.
45
Approval Approval
3 Sanata Textiles
10 (a) Facilities to Chinese Resultant from a July-97 Aug-97 97

Bi-lateral
Agreement
11 (b) Facilities to JFL (Parcel Resulted from n/a n/a Converted to sale
4701) Windup of Sanata
12 (c) Facilities to QAII Dec 06-Feb 07 May-07 May-07 Converted to sale

(Parcel 4702)
4 Quality Foods
13 (a) Wharf at 16 Mudlot Aug-99 Sept-99 Oct-99 Ongoing
Mining
1 Linmine
14 (a) 49 Lower Coomacka Not April-07 Jan-09 Ongoing (Lease

Advertised69 executed)
15 (b) Power Plant Advertised by 1997 1997 Jan-98

both PU and
Linmine70
16 (c) Tract B Plantation, Proposal rec’d n/a Nov-08 Ongoing (Lease

Noitgedacht executed)
17 (d) 508 & 5117 Proposal rec’d Apr-07 Apr-11 Ongoing (Lease
Conception executed)
18 (e) Sublot M2 Plantation Based on Apr-07 Aug-08 Ongoing (Lease

Retrieve application executed)
19 (f) Block JJ of Lot 43 First option Apr-07 Jan-09 Ongoing (Lease

Noitgedacht granted to executed)
occupant
69
Proposal for land was sent to the Linmine Secretariat/Board by Karlam. This was subsequently sent to the NICIL
Board for approval. Karlam was succeeded by BaiShaiLin in 2007.
70
Following a lack of acceptable proposals by the PU, the Linmine Board approved Linmine re-advertising this facility.
The Linmine Board then submitted its recommendation of Texas Ohio and proposed execution of the draft Letter of
Intent. Following approval by Cabinet, the PU concluded the arrangements on terms and conditions better than that
stated in the original LOI.
46
Approval Approval
20 (g) Tract AWS of Lots 48 Based on Straight to June-11 Ongoing (Lease

& 49 Coomacka Application Cabinet executed)
21 (h) Tract A Plantation Based on Apr-07 Jan-09 Ongoing (Lease

Surapana Application executed)
22 (i) Plot C of Plantation First option Straight to June-11 Ongoing (Lease

Noitgedacht granted to Cabinet executed)
occupant
3 BIDCO
23 (a) 278 Forshaw Street Proposal rec’d Aug-04 n/a Ongoing (tenancy
agreement
executed)
24 (b) 199 Camp St Resulted from n/a n/a Ongoing

windup of
BIDCO
4 ABC/AMC
25 (a) Le Belle Vue, Berbice Proposal rec’d Apr-07 Sep-07 Sep-07
26 (b) Block X Plantation Oct-06, Sept-07 Apr-10 Mar-11 Ongoing (Lease

Everton executed)
5 Bermine
27 (a) Lots 1-5 Esplanade Based on Converted to sale

Road proposal from
Oldendorff
Carriers
(Guyana) Inc.
28 (b) Lots1-5 Esplanade Resulted from n/a n/a Oct-05

Road windup of
BERMINE –
Viceroy
Shipping
OTHERS
29 (a) Mudlots 1-3 Water Aug-05 Oct-05 June-06 Ongoing (Lease

Street (Former GRDB executed)
Wharf)
30 (b) 6a Morawhanna, Jun-July-11 Nov-11 Nov-11 Ongoing (Lease

Region 1 executed)
47
Approval Approval
31 (c) Block Aplha, Kingston Proposal rec’d n/a Aug-10 Ongoing (Lease
executed)
RUIMVELDTESTATE
32 (a) Rental to lessees [Appendix II table (E) ]
ECCLESESTATE
33 (a) Rental to lessees [Appendix II table (C)]
COLDINGENESTATE
34 (a) Rental to lessees [Appendix II table (D)]
48
Table 9a: Lease Transactions – Values (Excluding Industrial Estates)
Paid to Paid to
Gross(G$M Net
Sector Name GOG NICIL
) (G$M)
(G$M) (G$M)
Financial 26 26 0 26
1 GNCB
1 (a) 274 Peter Rose St. BCGI 25 25 25
2 GCMFB
2 (a) 118 Vryman’s Erven, Cops 1 1 1
Commercial 426 426 245 180
1 PHI
Toucan
3 (a) 248-252 Kara Kara 2 2 2
Connections Inc.
2 GNEC
4 (a) 26 Providence Macorp 22 22 22
Lots 2-12 Lombard 375 375 178

5 (b) GNIC 197
Street
Block A Bel-lu Bel Lu Inc,/ Fazal 1

6 (c) 6 6 5
Claybrick Ramzan
Alproguy
7 (d) building/sale of NHL 21 21 21
equipment
Manufacturing 493 493 34 459
1 GPC
201 Camp &

8 (a) Citizens Bank 247 247 24 223
Charlotte St.
2 GGWL
Former GGWL Bulkan Timbers

9 (a) 55 55 2 53
Soesdyke Ltd.
3 Sanata Textiles
10 (a) Facilities to Chinese G&C Sanata Inc.
Facilities (Parcel
11 (b) JFL 147 147 8 139
4701)
49
Paid to Paid to
Gross(G$M Net
) (G$M)
(G$M) (G$M)
Facilities (Parcel
12 (c) QAII 43 43 43
4702)
4 Quality Foods
Former Government Pomeroon Oil

13 (a) 1 1 1
wharf Mills
Mining 191 191 0 194
1 Linmine
14 (a) Power Plant Texas Ohio
Tract B Plantation,
15 (b) JB Metals Inc. 1 1 1
Noitgedacht
16 508 & 5117

(c-
- Conception & 49 Baishanlin 20 20 20
d)
17 Coommaka
Sublot M2 Plantation Habitat for

18 (e) 0 0 0
Retrieve Humanity
Block JJ of Lot 43
19 (f) Nicholson 0 0 0
Noitgedacht
Tract AWS of Lots 48

20 (g) SAG Industries 0 0 0
& 49 Coomacka
Tract A Plantation
21 (h) GGMC 0 0 0
Surapana
Plot C of Plantation Linden Care

22 (i) 0 0 0
Noitgedacht Foundation
Bermine
Oldendorff
Lots 1-5 Esplanade
23 (a) Carriers (Guyana) 21 21 21
Road
Inc.
Lots 1-5 Esplanade Viceroy Company

24 (b) 3 3 3
Road Inc.
3 BIDCO
25 (a) 278 Forshaw Street BCGI 53 53 53
26 (b) 199 Camp St Guysuco 57 57 57
4 ABC/AMC
27 (a) Belle Vue, Berbice CATI 1 1 1
50
Paid to Paid to
Gross(G$M Net
) (G$M)
(G$M) (G$M)
Block X Plantation Caricom Cement

28 (b) 35 35 35
Everton Inc.
OTHERS 29 29 NIL 29
Mud Lots 1-3 (former BK International

29 (a) 27 27 27
GRDB Wharf) Ltd.
6a Morawhanna,
30 (b) Miramar Inv. Ltd 2 2 2
Region 1
Block Alpha,
31 (c) Atlantic Hotel Inc. 0 0 0
Kingston
GRAND TOTAL 1,165 1,165 279 885
51
Table 10: Lease Tenure(Excluding Industrial Estates)
No Less 3-5 5-10 >or=1

Lease/License Total
. than 3 years years 0
1 274 Peter Rose St. √ 1
2 118 Vryman’s Erven, N.A. √ 1
3 248-252 Kara Kara Linden √ 1
4 1-9 Lombard Street √ 1
5 Bel-lu Claybrick √ 1
Lease rental for Alproguy building/sale of

6 √ 1
equipment
7 GNEC property at Providence √ 1
8 201 Camp and Charlotte Street √ 1
9 Guyana Glassworks √ 1
10 Lease of Sanata facilities √ 1
11 Lease of Sanata facilities (Parcel 4701) √ 1
12 Lease of Sanata facilities (Parcel 4702) √ 1
13 Lease of 49 Lower Coomacka √ 1
14 Lease of Power to Texas Ohio √ 1
15 Track B Plantation, Noitgedacht √ 1
16 508 & 5117 Conception √ 1
17 278 Forshaw Street √ 1
18 199 Camp Street √ 1
19 Lease of AMC Belle View √ 1
20 Lease of Block X Plantation Everton √ 1
Lease of Mudlot 1-3 Water St (former old

21 √ 1
GRDB Wharf)
22 Sublot M2 Plantation Retrieve √ 1
23 Block "JJ" Plantation Noitgedacht √ 1
24 Rental of properties at 1-5 Esplanade Road √ 1
25 Rental of properties at 1-5 Esplanade Road √ 1
26 Lease of Wharf Mudlot 16 √ 1
52
No Less 3-5 5-10 >or=1
Lease/License Total
. than 3 years years 0
27 6a Morawhanna, Region 1 √ 1
28 Block Alpha, Kingston √ 1
29 Tract AWS of Lots 48 & 49 Coomacka
30 Tract A Plantation Surapana
31 Plot C of Plantation Noitgedacht
Total 3 9 3 14 31
53
Table 11: Review of Restructuring Transactions - Key dates
Sector Date of PU Board Date of Date

Approval Cabinet Completed
Approval
Financial
1 GNCB Trust
1 (a) Privatisation Dividend Payout June-98 Oct-98 Cancelled
2 GNCB
2 (a) Collections on Loan Portfolio May-03 Ongoing
3 GCMFB
3 (a) Transfer of Portfolio to GCFS July-98 Oct-98 Dec-99

(Vesting Order)
4 (b) Wind-up of GCMFB (Vesting July-98 Oct-98 Dec-99

Order)
5 (c) Sale of Lot 2 North Road to July-98 Oct-98 Dec-99

GNCB
4 GCIS
6 (a) Special Dividend of G$ 100 M Dec-96 (shareholders’ Mar-96 Jan-97

approval)
5 GAIBANK
7 (a) Transfer to GNCB (# 2 of Feb-95

1995)
8 (b) Transfer of bad loans to GCFS Feb-95
9 (c) Transfer of property to NICIL - Feb-95

Forshaw Street
10 (d) Wind-up Order to dissolve Feb-95

GAIBANK
6 SBCI
11 (a) Transfer of loan portfolio to Dec-02 Project files Sept-03

GCFS
12 (b) Transfer of cash and movable May-02 Sept-03

assets to NICIL
13 (c) Wind-up Order to dissolve May-02 Sept-03
54
Approval
SBCI
Commercial
1 GSL
14 (a) Special Dividend of G$400 m May-95 (Submitted Jun-98

to shareholders to cabinet)
2 GNEC
15 (a) Dissolution of GNEC Oct-94 May-00 May-02
3 GNPL
16 (a) Severance of Feb-97

Workers/Restructuring
Manufacturing
1 GPC
17 (a) Collection on Promissory Note Dec-02 Jan-03 Ongoing

from New GPC
18 (b) Dissolution of GPC Dec-02 Jan-03 Nov-03
2 GSFL
19 (a) Special Dividend Mar-97 May-97
3 NEOCOL
20 (a) Dissolution of Neocol Mar-07 Mar-07 Feb-08
4 GGWL
21 (a) Wind-up of GGWL May-95 June-95 Aug-96
5 Sanata Textiles
22 (a) Wind-up of Sanata (Order #49 Apr-00 May-00 Dec-00

of 00)
Mining
1 Bermine
23 (a) Severance/Restructuring Sept-03 Oct-03 Oct-04
24 (b) Merger with ABC/Wind-up of Oct-03 Oct-03 Oct-04
55
Approval
Bermine
2 BIDCO
25 (a) Wind-up of Bidco Oct-03 Oct-03 Dec-03
Transportation
26 1 GAC
(a) Settlement of liabilities May-98 June-98 Apr-99
Agricultural
1 GUYSUCO
27 (a) Sale of VDC Oct-99 (Portion transferred Aug-02 Aug-02

to CHPA &pending to
NCN)
Items identified in red are indicative of missing information from files that were either damaged
and/or destroyed by water in flood like conditions in the main documentation room of the Unit.
Efforts are on-going to reconstruct the files.
56
Table 11a: Review of Restructuring Transactions - Values (Transactions
with Values)
Sector Net Paid to Paid to Paid to

Value
Proceeds GOG Entity NICIL
(G$M)
(G$M) (G$M) (G$M) (G$M)
Financial 443 443 443 NIL
1 GNCB
1 (a) Collections on Loan

280 280 280
Portfolio
2 (b) GNCB Trust
3 (c) Privatisation Dividend

63 63 63
Payout
2 GCIS
4 (a) Special Dividend of G$

100 100 100
100 M
Agriculture 478 478 339 140 NIL
3 Caricom Rice Mills
5 (a) Sale of Caricom Rice

232 232 232
Mills
6 (b) Sale of 10% interest 28 28 28
4 Surpana Farm
7 (a) Sale of 50.1% interest

to employee 9 9 9
shareholders
5 GSFL
8 (a) Special Dividend 78 78 78
9 (b) NEOCOL 131 131 131
Fisheries 114 114 114 NIL
6 Guyand Fisheries Ltd
10 (a) Sale of Houston to BV 114 114 114
Commercial 422 422 400 22
7 GNPL
11 (a) GNPL Loan 22 22 22
57
Sector Net Paid to Paid to Paid to
Value
Proceeds GOG Entity NICIL
(G$M)
(G$M) (G$M) (G$M) (G$M)
8 GSL
12 (a) Special Dividend of

G$400 m to 400 400 400
shareholders
Manufacturing 201 201 169 32
13 9 National Paint Co 87 87 87
10 Small Business Credit

Initiative
14 (a) Transfer of cash and

movable assets to 32 32 32
NICIL
11 GPC
15 (a) Special Dividend

44 44 44
Payout
16 (b) Collection on
Promissory Note from 38 38 38
New GPC
GRAND TOTAL 1,658 1,658 1,465 140 54
58
Chart 1: Institutional Arrangements
59
Table 12: Gross Proceeds for Period 1994 to 2011 (by sector)
Sector Total G$
Financial Entities 8,115,463,313
Commercial 3,460,657,517
Manufacturing 3,525,191,139
Mining 3,988,086,714
Agricultural 478,119,494
Fishing 113,750,000
Utilities 3,686,000,000
Transportation 324,000,000
Other 1,874,314,866
Total 25,565,583,043
60
Table 13: Gross Proceeds for Period 1994 to 2011 (by type and
allocation)
Proceeds by GA GNC
LIN- NEO GNC Surpa
Category Total GPL B/PH AMC NICIL GOG PHI
MINE COL B na
2000 I
G$M G$M G$M G$M G$M G$M G$M G$M G$M G$M G$M G$M
Capitalizati
6,434 2,414 3,686 324 - - - - - - - 9
on
Trade Sale 346 - - - - - - - 346 - - -
Leasing 1,165 - - - - - - 885 279 - - -
Sale of
7,100 - - - 133 364 950 3,453 1,487 714 - -
Assets
Sale of
9,499 - - - - - - 439 8,655 - 406 -
Shares
Loan
303 1 - - - - - 22 280 - - -
Recovery
Windup 32 - - - - - - 32 - - - -
ESOP 0 - - - - - - - - - - -
Dividend 685 - - - - - - - 685 - - -
Total 25,564 2,414 3,686 324 133 364 950 4,831 11,732 714 406 9
Table 13a: Summary of proceeds table
Table Paid to Paid to

Value Net Proceeds Capitalized Paid to
Entity NICIL
(G$M) (G$M) (G$M) GOG (G$M)
(G$M) (G$M)
7a Privatisation 16,992 16,992 6,432 8,759 1,361 440
8a Real Estate 5,754 5,689 0 1,209 1,065 3,412
9a Leases 1,165 1,165 0 279 0 885
11a 1,658 1,658 0 1,465 140 54

Restructuring
Total 25,56971 25,504 6,432 11,712 2,566 4,791
71
Difference from Table 13 due to rounding
61
Table 14: Privatisation Key Achievements by Sector against
Issues/Objectives
Key Issues with Key Achievements/
sector Considerations
Sector
Financial (8 entities): 1. Size of GoG in 1. GoG is totally out of the financial sector
banking sector and (except for the debt collection agency)
1. 3 of the largest banks—operating in overall financial
private sector sector 2. The private sector is responsible for risks,
investment, and expansion
2. 1 insurance company—operating in 2. Role of private
private sector sector, level of 3. All financial entities privatized as
efficiency investment businesses are profitable and performing
3. 1 trust/mortgage company—operating businesses
levels
in private sector
3. New products, 4. Entities have generally expanded in
4. 1 development bank—merged and then revenue and overall assets; entities appear
direction of
privatised to be better managed
management
5. 1 small mortgage bank --wound up 5. Deposits, savings, loans and assets have
4. Losses of
GNCB/GAIBANK generally grown steadily
6. 1 micro credit scheme--wound up
and risk of loss with
ownership
Commercial: 1. Competition with 1. Most operations privatised except the

private sector/ newspapers and printery
1. 1 Department store/real estate group strategic value is
(GSL/PHI)—privatised in parts limited 2. GoG has stated that GNSC and Guyoil,
both profitable operations, will not be
2. 1 diversified conglomerate involved in 2. Risk of financial loss privatised
wharf operations, ship repairs,
properties, claybrick operations, etc 3. Level of efficiency 3. GoG risk of financial loss from existing
(GNEC)—privatised in parts ownership is largely reduced
4. Level of staffing—
3. 1 printing operation (GNPL)— some overstaffing, 4. Post-privatisation objectives of revenue
restructured and downsized; two growth, investment, employment,
5. Curtailment of profitability, and contribution to Treasury
attempts to privatise business—not
investment; in private have been mixed
privatised but some asset sale
sector, investment
4. 1 newspaper operation—10% ESOP could be created 5. Payment problems exist with GNIC and
created; balance held by GoG—not GSL; solvency issues of GNIC and GSL
6. Risks from may be a risk in the future
privatised except for ESOP
competition
5. Minority interest in largest hotel in 6. Competitive landscape for commercial
Guyana—privatised to NIS entities have increased significantly
6. Residual assets of trading conglomerate

(GNTC) previously privatised in
parts—non-operating
7. Residual assets of restaurant business
62
Sector
(Sijan Plaza)—non-operating
8. GoG has stated that GNSC and Guyoil

(both profitable) will be retained by
GoG—not for privatisation
Manufacturing—7 entities of Phase II; 1 1. Competition with the 1. Investment by private sector in new
from Phase I private sector was entities—New GPC, GSFL, NEOCOL,
minimal/but entities SAPIL, DDL, Sanata
1. 1 pharmaceutical company /significant operated at margin or
real estate (GPC)—privatised in parts loss 2. Expansion of revenue—eg. GSFL, New
2. Entities had GPC; mixed results from others
2. 1 stockfeeds company (GSFL)— investment
privatised with residual interest held opportunities but 3. Transfer of risk to the private
could not invest due sector/avoidance of subsidies
3. 1 edible oil company/producer of crude to GoG restrictions
palm oil (NEOCOL)— privatised; 4. Most businesses continue—New GPC,
3. GoG wished to avoid GSFL, NEOCOL (although now part of
4. 1 large corrugated box losses/need for GSFL, DDL, Sanata
manufacture/incomplete paper mill subsidies
(SAPIL/CCI)--privatised 5. Sectors are more competitive—more
4. Some entities were stockfeed plants, edible oil operations (eg.
5. 1 textile mill (Sanata)—privatised profitable or good POM), pharmaceuticals
candidates for
6. 1 defunct glass factory (GGWL)--
profitability
privatised
5. Consideration to
7. Minority interest in brewery/ beverage
continuing business/
company/ conglomerate (DDL)—
need for strategic
privatised
investor
8. Defunct food processor (Quality
Foods)—non-operational and
privatised under Phase I
Mining—3 entities: 1. Eliminate 1. Linmine and Bermine/AMC have been

transfers/subsidies privatised transferring ownership risk to
1. 1 Bauxite producer of calcined bauxite— from GoG the private sector; its successors, Bosai
Linmine—restructured and privatised; and BCGI are controlled by Chinese and
2. Ensure risk of loss is Russian interests
2. 1 bauxite producer of metallurgical with private sector 2. GoG no longer has risk of loss
bauxite—Bermine—merged with ABC; 3. Substantial investment has been made by
privatised 3. Create sustainable BCGI (including Oldendorff) and
companies and Omai/Bosia totaling over US$200 M
3. 1 holding company for bauxite— 4. Employment has been stabilized with
employment
BIDCO—wound up over 800 jobs maintained in the Berbice
opportunities
River with BCGI/Oldendorff and over
4. 1 power company serving the Linden 4. Encourage 600 jobs in Linden with Bosai
community and mine operation— investment and
privatised/went into receivership; 5. Electricity supply has been operated with
expansion of
general reliability by BCGI and Bosai
63
Sector
succeeded by OSI/Bosai production respectively; but GoG provides financial
subsidies in Kwakwani and Linden for
5. ABC/AMC--In 2001, ABC, a joint- 5. Create reliable and electricity
venture with Reynolds/ALOCA and sufficient electricity 6. BIDCO as a holding company has ceased
GoG was handed back to GOG for G$1. on an efficient basis operations by July 03 and has been
wound up
In 2002, Bermine was merged with
7. Both Bosai and Rusal are looking at
AMC—privatised investing in alumina refineries; RUSAL is
conducting a feasibility study for a hydro
plant to also power a smelter
Agricultural/Fishing—4 entities: 1. Regularize 1. Sale of properties for national sugar
outstanding issues corporation for part of capitalization—
1. Properties of national sugar company— relating to previous various properties have been sold
not up for privatisation; properties divestment—CRM, 2. Settlement of outstanding issues relating
being sold GFL to CRM and receipt of proceeds
2. Create capital for 3. Sale of 50.1% of Surapana (privatisation
2. Poultry rearing farm in Linden— investment has not been successful)—part of
Surapana--privatised (Guysuco) encouraging private sector development
in Linden
3. Large Rice Mill (part of Phase I
divestment program)—Caricom Rice
Mills—privatised under Phase I
(minority interest sold and
outstanding proceeds collected under
Phase II)
4. Real estate company with assets leased

to the Fishing Sector—GFL—privatised
in part in Phase I; remaining parts
being privatized in Phase II
Utilities—1 entity: 1. Avoid subsidies from 1. GEC privatisation achieved with success
GOG on removing GoG subsidies; but
1. Guyana Electricity Company—GEC— 2. Achieve Balance of consumer prices have risen significantly;
privatised and handed back to GoG Payment support and through supply is better and more
from the IDB tied to customers connected, company technical
privatisation and commercial losses remain high
3. Create investment in 2. Foreign investor in GPL withdrew in
utility April 03; investment of US$20 M handed
4. Improve efficiency over to the GoG
3. GPL continues to be operated by GOG
without subsidies; privatisation not being
considered in the short term- key issue is
balance of tariffs and cost of return on
capital for private investors, given high
level of inefficiency of company
4. GPL is pursuing various capital projects
with funding from GoG; additionally,
GPL is obtaining power from Guysuco
under a PPA (being finalized) and plans
to also obtain power from hydro and wind
64
Sector
from IPP’s
Transportation (1 entity): 1. Avoid losses to the 1. GAC privatised via capitalization to local
Treasury investor group; new company called
1. National Airline—GAC—privatised 2. Achieve continuity in GA2000
and in bankruptcy international service 2. Capitalization of assets based on high
3. Create investment in value of assets (largely real estate and two
company twin-otters) but liabilities transferred
4. Maintain strategic 3. US$2.2 m in debts transferred; additional
role during transition debts settled by GAC with monies
with interest that collected from residual assets of GAC; at
could then be sold to current time US$8 M in debts that existed
public and employees prior to privatisation settled or statute
5. Minimize impact of barred
debt of existing 4. Company supplied a cheaper price service
company (due to competition of 3 carriers instead
of 2 carriers) but costs exceeded revenue
due to lease aircraft costs on a ―wet basis‖
and other operating costs; Employment
levels reduced
5. GA2000 placed in receivership in 2001
but handling company continues to
operate; GAC 49% investment lost;
however GAC better off with
privatisation that without since liabilities
would have crystallized; successor flag
carrier may have had trouble with debt of
former state entity (as opposed to former
privately controlled company); losses of
GA2000 felt by Bank, shareholders,
creditors, and some customers; employees
paid severance
65
Table [A]: Review of Linmine Real Estate Transactions (Tendered)
Listed below are specific criterions for choosing the recommended purchaser:
1. Only one plot of land was awarded to a bidder irrespective of the number of top bids that the
bidder may have submitted.
2. Where there is a top bid for a plot of land in more than one section by the same bidder, the
locations are ranked as follows :
1) Watooka (G1- G20)
2) Fair’s Rust (103-130)
3) Noitgedacht (1-9)
4) Industrial Area (700 series)
3. Where the top bidder for a plot of land has already been awarded a plot the next bidder is
allocated the plot at the lower of the valuation price and top bid price.
Name of Date of
Company/ Date Cabinet
Plot Bidder Advertised Approval Date Completed
1 PLOTS 1-9 OF SUBLOTS E,F,G,H,I AT PLANTATION NOITGEDACHT, LINDEN
1 (a) 1 J. Bhaskaran Mar-09 Dec-09 25-Jun-11
2 (b) 2 J. Johnson Mar-09 Dec-09 11-Dec-10
3 Offer withdrawn
since no interested
(c) 3 J. Providence Mar-09 Dec-09 was shown
4 (d) 4 Samuel Rodney Mar-09 Dec-09 25-Jun-11
5 (e) 5 R. Duncan Mar-09 Dec-09 11-Dec-10
6 (f) 6 Beverly Melville Mar-09 Dec-09 11- Dec-10
7 (g) 7 R. Luckhoo Mar-09 Dec-09 11- Dec-10
8 (h) 8 Clorene Bowen Mar-09 Dec-09 11- Dec-10
9 (i) 9 R. Pearce Mar-09 Dec-09 25-Jun-11
2 LOTS 103 TO 130 SECTION "A" AND "B" PLANTATION FAIR'S RUST, LINDEN
1 (a) 103 H. Rodney Mar-09 Dec-09 25-Jun-11
2 (b) 104 Natasha Seraphin Mar-09 Dec-09 25-Jun-11
66
Name of Date of
Did not take up

3 (c) 105 S. Calsan Mar-09 Dec-09 offer
4 (d) 106 C. Smith Mar-09 Dec-09 21-Jul-12
5 (e) 107 V. Kersting Mar-09 Dec-09 25-Jun-11
6 (f) 108 W. Seetram Mar-09 Dec-09 21-Jul-12
109-
Sublot
7 (g) A& B J. Armstrong Mar-09 Dec-09 25-Jun-11
110-
Sublot
8 (h) C&D Colin Davidson Mar-09 Dec-09 25-Jun-11
9 (i) 111 K. Davidson Mar-09 Dec-09 25-Jun-11
10 (j) 112 G. Tinnie Mar-09 Dec-09 25-Jun-11
11 (k) 113 C. Myers Mar-09 Dec-09 21-Jul-12
12 (l) 114 A. Graham Mar-09 Dec-09 21-Jul-12
13 (m) 115 J. Adams Mar-09 Dec-09 21-Jul-12
14 (n) 116 R. Noble Mar-09 Dec-09 21-Jul-12
15 (o) 117 C. Glasgow Mar-09 Dec-09 21-Jul-12
16 (p) 118 J. Gill Mar-09 Dec-09 25-Jun-11
Randy
17 (q) 119 Rutherford Mar-09 Dec-09 21-Jul-12
18 (r) 120 Jane Mason Mar-09 Dec-09 Pending
121-
Sublot E
19 (s) &F A . Wilson Mar-09 Dec-09 Pending
20 (t) 122 M. Persaud Mar-09 Dec-09 25-Jun-11
21 (u) 123 H.A. Reid Mar-09 Dec-09 21-Jul-12
22 (v) 124 J. Jameer Mar-09 Dec-09 Pending
23 (w) 125 Francis Nedd Mar-09 Dec-09 25-Jun-11
67
Name of Date of
24 (x) 126 P.Wayne Mar-09 Dec-09 25-Jun-11
25 (y) 127 Nandie Mason Mar-09 Dec-09 Pending
26 (z) 128 Sinclair Mar-09 Dec-09 Pending
27 (a) 129 R. Chin Mar-09 Dec-09 Pending
130-
Sublot H
28 ((b) &I N. Benjamin Mar-09 Dec-09 Jun-11
SALE OF PLOTS 709, 711-725, 734, 736-746, BEING PORTIONS OF TRACK L,

SITUATED AT SOUTH MACKENZIE, PORTIONS OF LOTS 43 OR PLANTATION
3 NOITGEDACHT
1 (a) 711 S. Cumberbatch Mar-09 Dec-09
2 (b) 712 D. McCammon Mar-09 Dec-09 Offer

withdrawn/No
3 (c) 713 Q. Julian Mar-09 Dec-09 interest shown
4 (d) 714 S. Roopnarine Mar-09 Dec-09
5 (e) 715 T. Lakeram Mar-09 Dec-09 25-Jun-11
No longer
6 (f) 716 G. Nelson Mar-09 Dec-09 interested
7 (g) 717 L. Welch Mar-09 Dec-09 25-Jun-11
8 (h) 718 N.J. Stewart Mar-09 Dec-09 Offer

withdrawn/No
9 (i) 719 S. Cato Mar-09 Dec-09 interest shown
10 (j) 720 P. Bobb-Semple Mar-09 Dec-09 25-Jun-11
11 (k) 721 S.G. Bynoe Mar-09 Dec-09 11- Dec-10
12 (l) 722 Emelda Mc Bean Mar-09 Dec-09 25-Jun-11
13 (m) 723 A. Freeman Mar-09 Dec-09 25-Jun-11
Marilyn
14 (n) 724 Chapman Mar-09 Dec-09 25-Jun-11
Rajendra
15 (o) 725 Lakeram Mar-09 Dec-09 25-Jun-11
68
Name of Date of
16 (p) 733 A P. Armstrong Mar-09 Jun-11 Pending
17 (q) 733 B P. Nedd Mar-09 Jun-11 Pending
Offer
withdrawn/No
18 (r) 734 C. Alexander Mar-09 Jun-11 interest shown
19 (s) 733 D S. Daly Mar-09 Dec-09 Pending
20 (t) 737 S. Fraser Mar-09 Dec-09 Offer

withdrawn/No
21 (u) 738 G. Arthur Mar-09 Dec-09 interest shown
22 (v) 739 C. Vanhersel Mar-09 Dec-09 Pending
23 (w) 740 S. Jacobs Mar-09 Dec-09 11- Dec-10
24 (x) 741 G. Morrison Mar-09 Dec-09 11- Dec-10
25 (y) 742 B. Sampson Mar-09 Dec-09 11-Dec-10
26 (z) 744 L. Nebblett Mar-09 Dec-09 25-Jun-11
27 (a) 745 A. Luckhoo Mar-09 Dec-09 11-Dec-10
No longer
28 ( b) 746 D. Innis Mar-09 Dec-09 interested
LOTS G1-G20 IN THE FRONTLANDS OF LOT 44 OR PLANTATION FAIRS RUST,

4 LINDEN
1 (a) G1 Assembly of God Mar-09 Dec-09 Pending
2 (b) G2 Assembly of God Mar-09 Dec-09 Pending
3 (c) G3 O. Gill Mar-09 Dec-09 11-Dec-10
4 (d) G4 Dexter Williams Mar-09 Dec-09 Pending
S. Neisher- Offer
5 (e) G5 Hardy Mar-09 Dec-09 withdrawn/No
6 (f) G6 T. Gomes Mar-09 Dec-09 interest shown
7 (g) G7 G. Brower Mar-09 Dec-09 25-Jun-11
8 (h) G8 I. Mc Donald Mar-09 Dec-09 Offer

withdrawn/No
69
Name of Date of
interest shown
9 (i) G9 K. DeJonge Mar-09 Dec-09 11-Dec-10
10 (j) G10 A. Tinnie Mar-09 Dec-09 11-Dec-10
11 (k) G11 A. Lewis Mar-09 Dec-09 11-Dec-10
12 (l) G12 R. Liverpool Mar-09 Dec-09 25-Jun-11
13 (m) G13 M. Higgins Mar-09 Dec-09 11-Dec-10
14 (n) G14 S. Johnson Mar-09 Dec-09 11-Dec-10
15 (o) G15 B. Moffett Mar-09 Dec-09 Pending
16 (p) G16 Tomika Lashley Mar-09 Dec-09 Pending
No longer
17 (q) G17 Basil Phillips Mar-09 Dec-09 interested
18 (r) G18 O. Wilson Mar-09 Dec-09 25-Jun-11
19 (s) G19 Denise Farose Mar-09 Dec-09 25-Jun-11
20 (t) G20 Oscar Giles Mar-09 Dec-09 Pending
70
Table [B]: Review of Linmine Real Estate Transactions (Allocated
through CHPA)
The verification, allocation and regularisation of these lots were conducted by the Central
Housing and Planning Authority.
Speightland / Lower Kara Kara (South) Linden
Parcel Date of Vesting

No. Name
# Order
1 17 Nigel Allicock 21-Jul-12
2 19 Tony Allicock and Mary Jeffery 21-Jul-12
3 20 Colin Spencer and Annette Spencer 21-Jul-12
4 22 Dennis Spencer and Janet Williams 21-Jul-12
5 23 Opal Hinds 21-Jul-12
6 24 Garfield Lorrimer 21-Jul-12
7 25 Neisha Jacob 21-Jul-12
8 26 Jerome Nathan and Rowena Spencer 21-Jul-12
9 29 Shoudel Persaud 21-Jul-12
10 31 Leslie Vandoimen and Patricia Vandoimen 21-Jul-12
11 34 Eugenie De Freitas 21-Jul-12
12 39 Wheeda Imran 21-Jul-12
13 42 Bonita Stellingburg 21-Jul-12
14 44 Joycelyn Leacock 21-Jul-12
15 45 Allan Cornelius 21-Jul-12
16 46 Hubern Persaud 21-Jul-12
17 51 Charles Johannes 21-Jul-12
18 53 Cathrine Wishart 21-Jul-12
19 55 Leon Craig and marigold Roberts 21-Jul-12
20 58 John Cornelius 21-Jul-12
21 60 Tamika Duggin 21-Jul-12
22 61 Vaidwattie Samaroo 21-Jul-12
23 66 Sabita Persaud 21-Jul-12
24 69 Royston Hamblin and Donna Hamblin 21-Jul-12
25 70 Mitzi Stanford 21-Jul-12
26 73 Kim Gittens 21-Jul-12
27 84 Romain Hodgson and Latoya Hodgston 21-Jul-12
28 86 Sahi Adolphus 21-Jul-12
29 90 Doris Ashby 21-Jul-12
30 96 Albert Singh and Romona Singh 21-Jul-12
31 101 Seuchand Swammy and Marva Dickson 21-Jul-12
32 104 Paul Sukhu and Sasenarine Sukhu 21-Jul-12
33 105 Trudy Croft 21-Jul-12
34 106 Carol Croft 21-Jul-12
35 110 Ditindra Singh and Angela Singh 21-Jul-12
71
No. Name
# Order
36 113 Ronald Sookoo and Dawkalie Sookoo 21-Jul-12
37 114 Kousillia Pancham 21-Jul-12
38 116 Andre Croft 21-Jul-12
39 117 Peter Croft 21-Jul-12
40 118 Jim Persaud and Taslena Persaud 21-Jul-12
41 122 Audrey Domer 21-Jul-12
42 123 Ewari Jasoda 21-Jul-12
43 124 Hazra Hamid 21-Jul-12
44 125 Rookmenee Pancham 21-Jul-12
45 126 Balroop Bridglall and Lilwattie Bridglall 21-Jul-12
46 128 Stephen Francis 21-Jul-12
47 136 Rudolph Jeffrey and Stella Jeffrey 21-Jul-12
48 137 Clement Cornelius 21-Jul-12
49 138 Amika Chattergoon 21-Jul-12
50 147 Roberto Cornelius 21-Jul-12
51 148 Nayol Lorrimer 21-Jul-12
52 150 Sidonio Cornelius and Allison Stellingburg 21-Jul-12
53 151 Jerry Stellingburg and Remona Stellingburg 21-Jul-12
54 155 Rudolph Cornelius 21-Jul-12
55 158 Galieo Anthony Da Silva 21-Jul-12
56 159 Galieo Da Silva and Gloria Da Silva 21-Jul-12
Pauline Allicock & Troy Wilson
57 16 21-Jul-12
58 35 Abigale Green & Glenn Pollydore 21-Jul-12
59 41 Richard Stellingburg 21-Jul-12
60 43 Gavin Mitchell & Karen Mitchell 21-Jul-12
61 74 Dawn Hamblin 21-Jul-12
62 75 Lennox Wilson 21-Jul-12
63 85 Sherwin Kellman & Kamela Kellman 21-Jul-12
64 94 Vena Fiedtkon & Leon Fiedtkon 21-Jul-12
65 100 Avril James & Eustace James 21-Jul-12
66 109 Sham Mohabir & Neelmattie Mohabir 21-Jul-12
67 111 Bhagwhat Persaud 21-Jul-12
68 112 Beharry Ramessar & Khemraj Ramessar 21-Jul-12
69 115 Troy Croft 21-Jul-12
70 133 Clifford Fraser & Carmel Stellingburg 21-Jul-12
71 139 Brian Chattergoon 21-Jul-12
72 146 Brian James & Andrea Cornelius 21-Jul-12
72
Coomacka

NO. Name
# Order
1 16 Cecil Sampat 21-Jul-12

2 18 Patrick Ramessar 21-Jul-12
3 20 Winston Yaw & Maylene Yaw 21-Jul-12
4 24 Lucille Vanshytman & Carl Thomspon 21-Jul-12
Michael Edmundson & Sybill
5 25 21-Jul-12
Edmundson
6 29 Dereck Mathews & Orlene Matthews 21-Jul-12
7 33 Wilbert Bristol & Rookmin Bristol 21-Jul-12
8 36 Margaret Anthony & Philip Anthony 21-Jul-12
9 48 Tyrone Daw 21-Jul-12
10 50 Florence Harding 21-Jul-12
11 62 Philip Castang & Faith Williams 21-Jul-12
12 73 Juliana Murray 21-Jul-12
13 90 Winston Davis & Genevieve Davis 21-Jul-12
14 102 Carol Feidtkou 21-Jul-12
15 104 Esther Daw & Arthur Daw 21-Jul-12
16 105 James Adams & Lynette Adams 21-Jul-12
17 106 Jane La Cruz 21-Jul-12
18 122 Errol Torres 21-Jul-12
19 123 Stanley Couchman & Jasmat Bissoondyal 21-Jul-12
20 124 Michael Williams & Paula Williams 21-Jul-12
21 133 Marlyn Ettienne 21-Jul-12
22 154 Michael Bissoon & Jennifer Bissoon 21-Jul-12
23 3 Cecil Nelson & Indroutie Nelson 21-Jul-12
24 8 Wendell Anderson 21-Jul-12
25 26 Iris Blount 21-Jul-12
26 34 Evon Lewis 21-Jul-12
Garfield Hartman
27 44 Lilowtie Hartman 21-Jul-12
28 51 Chanelle Ross 21-Jul-12
29 81 Eon Bremner 21-Jul-12
30 107 Brenda Nurse 21-Jul-12
31 112 Gerald Reece 21-Jul-12
32 131 Mary Savory 21-Jul-12
73
Nottinghamshire Linden

No. Name
# Order
1 11 Raymette Dagrella & Carl Clarke 21-Jul-12
2 19 Leola Jones 21-Jul-12
3 21 Lionel Parris 21-Jul-12
4 22 Suedath Bhadan 21-Jul-12
5 27 Matthew Leacock 21-Jul-12
6 33 Dellon Harpaul 21-Jul-12
7 1 Roy Peeres 21-Jul-12
8 4 Oviah Setra O'Selmo 21-Jul-12
9 5 Rastaf Oselmo 21-Jul-12
10 8 Carol Trotman & Lincoln Oselmo 21-Jul-12
11 9 Karen Trotman & Robin Albert 21-Jul-12
12 10 Leyland Mentore 21-Jul-12
13 13 Deborah Persaud 21-Jul-12
14 16 Derick Narine & Carol Kryenhoff 21-Jul-12
15 17 Pamela Paul 21-Jul-12
16 18 Karen Jones & Lester Jones 21-Jul-12
17 20 Dianne Ross 21-Jul-12
18 25 Bhagmattie Persaud 21-Jul-12
19 31 Alice Vyfhius 21-Jul-12
20 39 Nadera Peeres & Patrick Peeres 21-Jul-12
Cleopal Narine & Ronnal Narine
40 21-Jul-12
21
22 41 Colin Crandon & Vanessa Marco 21-Jul-12
74
Industrial Area
Date of Vesting
No. Lot # Name
Order
1 692 Troy Willson & Marsha Bruitus 17-Mar-12
2 693 George Augustine 17-Mar-12
3 694 Gordon Forde - Lambert & Myrlin Benn 17-Mar-12
4 696 Audrey & Trenton Garner 17-Mar-12
5 698 Monica & Maurice Reece 17-Mar-12
6 699 Enid & Keith Daniels 17-Mar-12
7 700 Marcyln Simon - Carter 17-Mar-12
8 701 Omina Bibi & Nasser Baksh 17-Mar-12
9 702 Barbara & Wilson Browne 17-Mar-12
10 703 Panzie Sealy
11 704 Petal & Faczul Alli 17-Mar-12
12 705 Royston Telford 17-Mar-12
13 706 Janice Burgan 17-Mar-12
14 707 Ramnarine 21-Jul-12
15 708 Colin Griffith
16 709 Shivon Greene 17-Mar-12
17 710 Mayfil Orlene Green & Robert Green 17-Mar-12
75
Table [C]: Review of Linmine Commercial Sale Transactions
Excluding the Industrial Estate transactions, the PU has handled 90 property transactions in respect of
Phase II entities earmarked for privatisation. There were 5 non-Guysuco property transactions with
regard to Linmine sales. These are examined below in the table.
Sector Date Advertised Date of Date of Date

Approval Approval
Mining
1 Linmine
1 (a) Sale/Mortgage of First Option granted 1999 1999 Oct-99

Power Plant to Texas to occupant
Ohio
2 (b) Tract B of Lot 43 Based on Apr-07 Jan-09 Jun-09

Noitgedacht- application
Mohabeer
3 (c) Lot 35 Plantation First Option granted Apr-07 Jan-09 Jun-09

Noitgedacht - SOL to occupant
4 (e) Block SS Plantation First Option granted Feb-09 Apr-10 Jan-10

Noitgedacht– Vibert to occupant
Rose
5 (f) Lot 42 Plantation Based on Apr-07 Aug-08 Apr-09

Noitgedacht – PPP application
6 (g) Tract 'GF' Pln. First Option granted Apr-07 Jan-09 Jun-09
Noitgedacht - Safeco to occupant
76
Table [D]: Eccles Lease Transactions
Date of Agreement for

Plot # Tenant Status of Plot
Allocation Lease Signed
Nazar Mohamed & June 4, January 31,

1 Developed
Bonita Mohamed 2001 2003
May 19,
2 Multi Builders Inc. Developed May 25, 2005
2005
July 30,
2001 (3); Partially December 2,
3&4 Claude Miller
July 31, developed 2002
2001 (4)
Dynamic February
5 Developed
Engineering Co. 9, 2000
Re-possessed
February
6 Vacant (Lloyd Rose) on March 28,
9, 2000
2006
May 2, Partially
7 Ramdass Soman July 18, 2002
2000 developed
July 24,
8 Farouk Hussein Developed July 20, 2006
2001
9, 16 February
Dalip Trading Ltd. Developed May 23, 2002
& 17 9, 2000
10 & Correia and Correia February

Developed May 23, 2002
15 Limited 9, 2000
11, 14,
Guyana Revenue February
19 & Developed April 20, 2009
Authority 24, 2009
22
12 & April 1,
Mansoor Mursalin Developed May 29, 2003
13 2003
18 & Technical Services February

Developed May 28, 2002
23 Inc. 9, 2000
January
20 Deolall Pooran Developed June 24, 2004
14, 2002
77
February
21 Randolph O'Mallo Developed May 23, 2002
9, 2000
February
24 Hilton Jagmohan Developed May 23, 2002
9, 2000
25 & Joseph Nigel March 27,

Developed June 4, 2003
26 Johnson 2003
January
27 Richard Persaud Developed May 23, 2002
26, 2000
28 & Jainarine Singh and February

Developed July 23, 2002
29 Dhamattie Singh 9, 2000
July 10,
30 Andre Howard Developed May 23, 2002
2000
Ramanand Prashad
(trading under
October 5, December 21,
31 Prestige Developed
2005 2005
Manufacturing and
Bottling Enterprise)
April 11, August 14,

32 Lakhram Singh Developed
2002 2002
33 & February August 25,

Mahadeo Panchu Developed
40 24, 2000 2006
Burt Denny and

Vilma Denny
(trading under June 4, February 17,
34 Developed
Tandy's 2003 2004
Manufacturing
Enterprise)
Developed but
35 & March 21,
Praimroop Prasad seems April 17, 2007
38 2000
unoccupied
36 & July 18,

Kenricks Auto Sales Developed July 25, 2005
37 2005
April 20,
39 Hakeem Mohamed Developed March 10, 2010
2006
41 Faizal Mohamed February Developed January 16,
78
8, 2005 2006
February
42 Forbes Boyce Developed June 13, 2002
9, 2000
43, 44, Shaheed Mohamed

February
45 & Ferouze and Zabeeda Developed April 24, 2003
3, 2000
46 Ferouz
47 & March 27,

DeSinco Ltd. Developed June 10, 2003
48 2003
Dennis Charran
October February 19,
49 trading under Developed
29, 2003 2004
Comfort Sleep
April 10, September 13,

50 S&S Enterprises Inc. Developed
2000 2006
February Destroyed by December 23,

51 Fizal Alli
9, 2000 fire 2003
February October 28,

52 Glen Lall Developed
9, 2000 2005
Multi Vision May 28,

53 Developed April 2, 2009
Technology Inc. 2008
Sheik Mohamed May 25,

54 Developed May 28, 2002
Hassan Aniff 2001
Vacant (previously
55-59 allocated to Reeaz
Khan)
60, 61 May 30, September 2,

Kei-Sh-Ken's Undeveloped
& 62 2003 2009
Developed but
September September 10,
63 Roy Dan seems
4, 2003 2003
unoccupied
79
Developed
and currently
occupied by
Sacra-Coeur
Sirpaul Singh
64 May, 2002 Guyana. They To be obtained
(Japarts)
have
Agreement of
Tenancy with
Sirpaul Singh
Komal Ram August 30, August 31,

65 Developed
Ramnauth 2005 2005
Hemchandra June 20,

66 Developed May 20, 2003
Tajeshwar 2002
67 & February
Yasco Seafoods Inc. Developed To be obtained
68 9, 2000
69, 70,
Readymix Concrete February
71 & Developed May 28, 2002
Ltd. 9, 2000
72
73 & Readymix Concrete October 27,

January-03 Developed
74 Ltd. 2009
Caribbean Rice &

75 & Grains Mill (2012) July 24,
Developed
76 Inc. (Formerly J.B. 2001
Ramdass)
Musraf Arakhan and July 10, February 26,

77 Developed
Karima Hughes 2003 2004
February
78 Boyo Ramsaroop Developed May 23, 2002
9, 2000
January February 6,
79 Brasimex Inc. Developed
28, 2004 2004
Bibi Sherina Alli

January February 16,
80 Shakoor and Abdool Developed
30, 2004 2004
Zameer Shakoor
Essential Supplies January Undeveloped - January 23,

81
Inc. 23, 2004 land fenced 2004
80
82 & Essential Supplies August 14, November 8,

Developed
83 Inc. 2002 2002
Khemanlall Lall and November January 22,

84 Developed
Shuer Tan 13, 2002 2003
December
GT&T Developed January 2, 2008
2, 2004
81
Table [E]: Coldigen Lease Transactions
Date of
Plot # Tenant/Occupant Status of Plot Agreement to
Sub-Lease
1 New Sococo Enterprise Developed March 18,

1997
2 Keith Moonasar (Supra International Inc.) Undeveloped None signed
3 Echbert Faerber Developed June 7, 1996
4 Denmor Garments Manufacturing Inc. Developed February 3,

1998

1998

1998
7 Denmor Garments Manufacturing Inc. Developed June 20, 1997
10 Deodat Singh tranding under D. Singh & Sons Developed June 7, 1996
11 Deodat Singh tranding under D. Singh & Sons Developed July 10, 1997
12 George Jardim (Industrial Engineering Inc.) Undeveloped April 30, 1997
13 Ron Persaud (Action Tyre) Developed June 4, 1997
14 Ron Persaud (Action Tyre) Developed Not on File
15 Shawn and Denise Summerson Developed February 4,

1998
16 Derelict structure -
uninhabited
17 Clarence Moore Looks more like living None on file

quarters that are
uninhabited
82
Date of
Sub-Lease
18 Hazrat Shaffie (Global Arts Furniture Developed March 18,

Establishment) 1997
19 George Somwar Developed February 19,

1996
20 George Somwar Developed February 19,

1996
21 Associated Sawmilling Co. Ltd. Developed February 4,

1997
22 Vacant (previously allocated to Mohamed Ali Partially developed

(Ali's Woodworking Establishment)
23 Prakash Somwar Developed December 5,

1997
24 Sally Jettoo Developed N/A
25 Allan Sukhai Developed N/A
26A Allan Sukhai Developed N/A
26B Shodan Gopi trading under Gopi's Lumber Developed N/A

Dealer
26C Puran and Janki Persaud Developed N/A
27 Guyana Brakes and Clutch Co. Inc. Developed October 21,

1996
28 Harry Rambarran Developed N/A
29 Vacant (previously allocated to Mohabir Undeveloped

Persaud - Seignet Precision Tool and Machine
Inc.)
30 Keith Moonasar (Supra International Inc.) Developed None

executed
31 Keith Moonasar (Supra International Inc.) Developed None

executed
83
Date of
Sub-Lease
32 Ryan's Construction Inc. Developed January 21,

1999
33 Ryan's Construction Inc. Developed Not on File
34 Harvey Bactowar Developed None

executed
35 Vacant (previously allocated to Amazon Tractor Undeveloped

and Equipment Co. Ltd.
36 Vacant (previously allocated to Amazon Tractor Undeveloped

and Equipment Co. Ltd.
84
Table [F]: Ruimveldt Transactions
# Lessee Lots Owned by Govt
1 Lysons Knitwear Industries 1&2 Land only
2 Modern Industries Ltd. 3, 4, 5 & 6 Land only
24, 25 & 26 Land only
28 & 29 Land only
3 The New Guyana Co. 8 Land only
4 Continental Group of Companies 9-12 Land only
5 Stephen Giddings 13 & 14
6 S. W. Willsun & Co. Ltd. 21 E ½ Land & Building
7 Mayor & City Council 22 Land only
8 C. H. Gibbs 30 W 1/2 Land & Buildings

(sub lot B)
9 Vacant 30 E 1/2 Land

(sub lot A)
85
Table [G]: Guysuco Transactions
Date of
# Property Selling Price Purchaser
completion
1 Area H Farm, EBD 60,000,000 Nov. 2003 Classic Resources Inc.
2 Block R Diamond 250,000,000 Jan. 2004 Demerara Distillers Ltd
3 200 & 201 Camp St 101,917,500 Dec. 2003 Clico
4 Tract 7 of Q1 Providence 36,000,000 Jan. 2004 Mines Services Ltd
5 Tracts 1-6 of Q1 Providence 90,000,000 May 2004 Classic Resources Inc.
6 3A Diamond 44,982,000 Aug. 2004 Guyana Beverages Inc.
7 4 A Diamond 54,978,000 July 2005 Guyana Beverages Inc.
8 ZZ Ogle 25,000,000 Oct. 2008 GT&T
9 Plot DBL, Diamond 14,000,000 Feb. 2008 Demerara Bank Ltd.
10 Plot GOC Diamond 13,333,334 Jan. 2009 GUYOIL
11 Plot RBL Diamond 32,000,000 Aug. 2009 Republic Bank Ltd.
12 Plot GBTI Diamond 23,786,666 Dec. 2008 GBTI
Feb, 2009-vo
13 31(a) Sea Spray, Leonora 7,520,000 Dr. Surendra Persaud
date
14 30(b) Sea Spray 7,100,000 Aug. 2011 Mohamed Ali
15 Block R Leonora 80,000,000 Feb. 2011 South American Woods Inc.
Jun 2009-vo
16 Block RP of 2A 13,500,000 NPI Communications Inc.
date
17 Herdmanston House 133,900,000 Apr. 2011 Michael George
18 Plot B Prospect 431,034 Jun. 2009 GUYOIL
19 Tract A Farm 65,000,000 Sept. 2010 Walter Persaud
20 Tract B Farm 15,000,000 Nov. 2010 Samuel and Yvonne Hinds
21 Block X 60,000,000 Mar. 2011 Banks DIH Ltd
1,128,448,534
86

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PRIVATISATION IN TABLES:

Phase II- (1993-2011)

ABC Aroaima Bauxite Company

AMC Aroaima Mining Company

BCGI Bauxite Company of Guyana Inc.

Bermine Berbice Mining Enterprise

Bidco Bauxite Industry and Development Co. Ltd.

Bosai Bosai Minerals China Ltd.

CIE Coldingen Industrial Estate

DDL Demerara Distillers Limited

EIE Eccles Industrial Estate

EOI Expressions of Interest

ESOP Employee Share Ownership Plan

GAC Guyana Airways Corporation

GAIBANK Guyana Agricultural & Industrial Development Bank

GBTI Guyana Bank for Trade & Industry

GCFS Guyana Cooperative Financial Services

GCIS Guyana Cooperative Insurance Services

GCMFB Guyana Cooperative Mortgage Finance Bank

GEC Guyana Electricity Corporation

GFL Guyana Fisheries Limited

GGWL Guyana Glassworks Limited

GNEC Guyana National Engineering Company

GNCB Guyana National Cooperative Bank

GNCB PHI GNCB Property Holdings Inc.

GNNL Guyana National Newspapers Limited

GNPL Guyana National Printers Limited

GNTC Guyana National Trading Corporation Limited

GOG Government of Guyana

GPL Guyana Power & Light

GRMMA Guyana Rice Milling & Marketing Authority

GSFL Guyana Stockfeeds Limited

GSL Guyana Stores Limited

GTC Guyana Telecommunications Corporation

GTL Guyana Timbers Limited

Guyoil Guyana Oil Company

Guysuco Guyana Sugar Corporation Inc.

IMF International Monetary Fund

LIDCO Livestock Development Company Limited

Linmine Linden Mining Enterprise Ltd.

MOF Ministry of Finance

Neocol National Edible Oil Company

Neofi National Edible Oil & Fats Inc.

NICIL National Industrial and Commercial Investments Limited

NPCL National Paint Company Limited

NIS National Insurance Scheme

OBMI Omai Bauxite Mining Inc.

OCC Old Corrugated Cartons

PCS Public Corporations Secretariat

PHI Property Holdings Inc.

PPFP Privatisation Policy Framework Paper

RIE Ruimveldt Industrial Estate

RFP Request for Proposals

RUSAL Russia Aluminium Company

Sapil Seals & Packaging Limited

SPC Special Purpose Company

WOPE Wauna Oil Palm Estate

Sector # of Sale of Real Estate Real Estate Restructuri

37 National Paint Co. 1 1

38 Caricom Rice Mills 3 3

Sector # of Entities #of Sale of Real Estate Restructuring

Enterprise Action Privatised

1. Guyana Timbers Limited (GTL) Trade Sale of business to CLICO Yes

80% of shares in GT&T (new company Yes