THE Annual Report of the National Industrial and Commercial Investments Limited (NICIL) for 2012 was tabled by Finance Minister Dr. Ashni Singh in the National Assembly last Thursday.The Auditor General’s Department, which audited NICIL’s financial statements for 2012, was satisfied that NICIL had complied with the legislative requirements as stated in the Companies Act of 1991.
The report said that NICIL directors are satisfied that the company has adequate resources to continue operating for the foreseeable future.
The company’s revenue totalled some $6.965B as at December 31, 2012, which resulted in after-tax revenue of $6.205B, and the director approved an interim dividend of $1B to its shareholders.
Executive Director of NICIL, Winston Brassington, was the only director with a service contract with the company.
NICIL is a wholly state-owned company.