Listed Company Profiles

Property

Point Lisas Port Development Company

The Directors have recommended a final dividend of 17¢ per share making the total dividend for the year 27¢ per share. The dividend if approved by the shareholders will be paid on May 19, 2003. The current share price is $11.00 which means the share is trading at a PE of 11.11. We believe the Group has a bright future although the benefits from berth 5 would not accrue in the short term.

The Company

The Company owns and manages the vast Point-Lisas industrial estate and Free Zone. The estates’ tenants are petrochemical and steel plants, mid-sized manufacturers and small companies providing support services. PLIPDECO handles cargo such as containers, break-bulk and project cargo, provides harbour management services, operates tug and ancillary craft, and habour towage services. Its wholly owned subsidiary, Point Lisas Terminals Limited (PLTL), provides modern and effective warehouse facilities for containerised, break-bulk and project cargo, as well as distribution services for the ports tenants

In August of 1998, PLIPDECO and Dutch Company Wijsmuller International Towage BV (WIT), were jointly awarded a ten year contract to provide towage services to the Atlantic LNG plant in Point Fortin. The operations of PILPWIJS (limited liability Co. owned by WIT & PLIPDECO), were due to start in the second quarter of 1999.

The major shareholders are Ministry of Finance 43.13%, Caroni (1975) Limited 7.87%, Royal Bank Trust Company Limited 7.14%, and Trinidad and Tobago Unit Trust Corporation 6.44%.

For more information: Download pld.pdf

< top of page