GEISHA KOW­LESSAR-ALON­ZO

Se­nior Mul­ti­me­dia Re­porter

geisha.kow­lessar@guardian.co.tt

Point Lisas In­dus­tri­al Port De­vel­op­ment Cor­po­ra­tion Ltd (Plipde­co) yes­ter­day an­nounced the res­ig­na­tion of its di­rec­tor, Ayan­na Miguel, as the com­pa­ny con­tin­ues to un­der­go sig­nif­i­cant changes.

In a no­tice of ma­te­r­i­al change post­ed on the web­site of the T&T Stock Ex­change, Plipde­co said Miguel re­signed ef­fec­tive Feb­ru­ary 28, 2025 and thanked her for her ser­vice.

Miguel’s res­ig­na­tion fol­lows that of Dr Av­erne Pan­tin, vice pres­i­dent of Tech­ni­cal Ser­vices at Plipde­co who re­signed in Feb­ru­ary this year.

On Jan­u­ary 20, Pan­tin, who was serv­ing as Plipde­co’s act­ing pres­i­dent, was placed on ad­min­is­tra­tive leave. Pan­tin was act­ing in the role since Ju­ly 29, 2024, when sub­stan­tive pres­i­dent, Ash­ley Tay­lor, was placed on ad­min­is­tra­tive leave just months be­fore his re­tire­ment.

Cur­tis Den­nie, Vice Pres­i­dent Port Op­er­a­tions, as­sumed the port­fo­lio of act­ing pres­i­dent of the Cor­po­ra­tion, un­til fur­ther no­tice.

The changes at Plipde­co have not on­ly been in the C-suite, the board of the land­lord of the Point Lisas In­dus­tri­al Es­tate and the op­er­a­tor of the Port of Point Lisas has al­so ex­pe­ri­enced some changes.

In a no­tice pub­lished on Oc­to­ber 11, 2024, Plipde­co an­nounced that Dr Daniel Dook­ie, who was its chair­man, had “ceased to hold a po­si­tion on the board,” at the 57th an­nal meet­ing of the com­pa­ny on Oc­to­ber 8, 2024.

The board said An­nette Wat­tie was ap­point­ed as chair of the com­pa­ny and Stephen Har­ris was ap­point­ed as a di­rec­tor on the board.

Haydn Jones re­signed as a Plipde­co di­rec­tor, ef­fec­tive Sep­tem­ber 30, 2024.

Plipde­co al­so de­layed the hold­ing of its an­nu­al meet­ing, which was ini­tial­ly sched­uled to be held on Ju­ly 11.

The meet­ing was even­tu­al­ly held on Oc­to­ber 8.

For the nine months end­ed Sep­tem­ber 30, 2024, Plipde­co de­clared af­ter tax prof­it of $180.40 mil­lion, a 274 per cent in­crease com­pared to the $48.23 mil­lion the com­pa­ny earned for the same pe­ri­od in 2023.

The com­pa­ny’s rev­enue for the nine-month pe­ri­od in 2024 was six per cent high­er at $285.07 mil­lion than for the same pe­ri­od in 2023.

In its fi­nan­cial re­port for the pe­ri­od, Plipde­co said, “This sig­nif­i­cant in­crease in prof­itabil­i­ty re­sult­ed from a net im­pact of in­creased rev­enue cou­pled with a de­cline in some of our op­er­at­ing ex­pens­es as well as the pos­i­tive im­pact from a re­ver­sal of bad debts ex­pense which was pre­vi­ous­ly recog­nised.

“Based on our present per­for­mance for 2024 we ex­pect to ex­ceed both our bud­get­ed and pri­or year per­for­mance. As the year con­tin­ues, we re­main stead­fast in our re­solve to mak­ing our 2024 per­for­mance to be a for­mi­da­ble one.”