Director of The Dominica Social Security (DSS), Janice Jeanjacques, has denied reports that LIME has purchased Marpin 2k4.
Information surfaced earlier today in the media that the telecommunications company had purchased the financially strapped Marpin which is wholly owned by the DSS, an institution of the government.
However, DSS Director Jeanjacques has issued a statement to the media which reads:
“The Dominica Social Security (DSS) has heard on the News Media, today, of the sale of Marpin 2K4 Ltd. to LIME. The Dominica Social Security wishes to advise that while discussions are being held with several parties interested in the purchase of Marpin 2K4 Ltd. it continues to be the sole owner of the telecommunications company, and that as at today’s date there has been no agreement arrived at with LIME or any other entity on the sale of its interest in Marpin 2K4 Ltd.”
The statement continues, “Members of the public are asked to be guided accordingly and, when there is a change in the position, the Institution’s stakeholders will be so advised.”
Just a few days ago, at the launch of Carnival 2015, general manager of LIME, Jeffery Baptiste, disclosed that his company was close to fulfilling its dream of entering the television sector.
However, LIME officials whom DNO contacted about the latest reports, remained tight lipped about the matter.
I see the Marpin eight o’clock news tonight but it was not new at all, only old news a review of 2014 disguised as a labour party propaganda. I feels like watching GIS honestly. I’m definitely switching to SAT
Page F18 of the Auditors’ Report of the DSS 2013 Annual Report lists Investment Securities Available-for-Sale. In this list can be found Marpin 2K4 Ordinary Shares valued at xcd4,358,413 at the end of 2013 . Now, we have been told that DSS owned 50% of Marpin shares (now 100% according to Ms. JeanJacques Thomas). Why would the DSS purchase the additional 50% of Marpin’s ordinary shares, when it has been trying to dispose off the original 50% it owned? DSS stake in Marpin is now a whooping xcd8,716,826. Can the DSS now sell the entire corporate Marpin, when it has been trying, unsuccessfully, to dispose off half of Marpin? Or will the DSS change its mind and remain the single owner of Marpin as it is now in a position to make unilateral decisions regarding the telecoms company and not have to consult with WRB? Or, was the DSS simply used to rescue Marpin, and has been trying to recoup its expenditure for some time now? Or, DSS can now offer 100% of Marpin and attract a buyer.
This News item appears to be spam. We don’t really appreciate reading DNO’s spam here.
I suspect an inside deal. Imagine a scenario whereby insiders in the company , close to the govt. buy Marpin from WRB and DSS for a song, knowing they can resell it almost immediately for a fat profit to Lime? That would not surprise me at all.
more sour deals!!!!
Marpin should really be sold . The DSS should have dispose of this liability a long time ago because selling may be in the best interest of the employees and customers.
But I thought digicel wanted to buy Marpin but the government refused so they settled for sat. So they are now contemplating selling it to the same company who tried to close it down a few years ago. I wont be surprised if lime gave campaign money in exchange for marpin.And is dss really investing in Marpin?
Digicel should be the company that should buy Marpin. Lime doesn’t strike people as a profitable company and neither is Marpin. and look at what Digicel did to SAT/Digicel Play it’s now a better company and it’s profitable. So that is why Digicel should buy Marpin
That does not make sense really. Why should Digicel buy Marpin when they already have SAT? Only to close it down because it competes with them and we would end up with only one cable provider, a monopoly that could charge whatever they like. No, no a good idea.
Typical Dominicans. Like to jump the gun before all the facts confirmed and known. Even if rumors are true news media need to do a better job. This could derail a transaction especially when there are other interested parties.
Carrere said he was out of state is the reason why the police did not arrest Isidore. The chaIran of Marin says he was out of state and does not know what is going on.
I wonder if I ask him about the Offshore Marine company he will know whst is going on.
what a bunch of liars.
social security is our money not that of the corrupt bandits
UHMMMMMM what is this?
No smoke without fire. DSS outgoings exceed income and they need to generate cash. Maybe the govt. owe Lime money and Lime want to offset such debt against the purchase price for Marpin. On top of that customer deserting Marpin for SAT. I think Lime is in the driver’s seat on this one. Beggars are not chosers.
PS I guess you talking from an informed position right!!!!! You have more authority on this than the Director of DSS?
Well I will stick with Janice on this one I cannot follow ll you LENNIOTS!!!!!!!
This news brook today by Can Lie Jon Baptiste.
Are you daft? Iand then it happens it’s the truth then what? You people need to have your synapses connected. Think the majority of you got dropped on your heads.
Excited you doh just read IT IS NOT TRUE? so how then can it be true? you people are a real bunch of LENNIOTS!!!!!!!!
The release did say DSS is in discussion with a few interested parties but hear this NO DEAL has been reached as at today!!!!!!! Your LENNIOT a special type of EDDIOT which is way ahead of an IDIOT!!!!!!
Hmm, how should one interpret that? As far as I know synapses are gaps between nerve cells. How does one bridge those in the context of this story? Can you pls. explain that in simple layman’s terms so that those of us who are not as clever as you can understand? Thanks.
Surely you mean Came-along John Baptiste!?
Marpin is a waste anyway so whats the big deal.
well well well talk bout follow fashion
What a stupid childish comment. Baptiste has said for a while now that LIME wanted to get into TV. Plus LIME regional now owns a major television network. AND if you can’t contribute anything other than ‘follow fashion’ about a BUSINESS matter then maybe you should NOT be commenting.
Lime is coming with tv packages next year, 2015, whether they bought marpin or not idk, but they will bring tv packages to Dominica, just like in Barbados