BIDC to rid itself of non-performing assets

The Barbados Investment and Development Corporation (BIDC) is currently in the process of compiling a list of properties, which it considers to be
non-performing assets that it must get rid of.

Acting chief executive officer Sonja Trotman told Barbados TODAY that following the instructions from the Minister of Industry and Commerce with responsibility Donville Inniss, the corporation had embarked on an assessment process and would soon be putting
a list together.

“We are yet to compile the list. We are still in the assessment stage but we are aware very much of what the minister said,” said Trotman.

She could not say how soon the list would be ready or how many of the properties were likely to go.

Among its properties, the BIDC currently owns and manages about 70 industrial buildings, some of which are designed as multi-user complexes.

Saying it was nothing new, Inniss said he would not be the one to say what buildings or how many of them the BIDC should get rid of.

And while he said there was no deadline for the list to be compiled, Inniss said his wish was to “immediately” get rid of the non-performing assets.

“It is not for me to determine the numbers. It is for the BIDC. As minister I make the policy but that decision is for the board of the BIDC,” added Inniss.

One Response to BIDC to rid itself of non-performing assets

  1. Mac10 December 19, 2014 at 10:00 pm

    Would these “non performing assets” include the management & staff?

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *