WILLEMSTAD--For the time being, the Government of Curaçao will not be able to have dividends from United Telecommunication Services (UTS) over 2016 at its disposal.
This is according to the cooperate governance regulator SBTNO, important documents are missing, so that they cannot determine whether a dividend can be paid out. A policy for such must also be determined in advance and not afterwards.
Since 2012, this has been taking place the other way around. SBTNO thinks the problem lies with the Ministry of Finance as they need to send the documents.
Meanwhile, all employees of the government-owned company in which St. Maarten also has minority share were to receive a letter stating whether they are still part of the new structure per 2020 in which personnel is reduced from the current 480 to 200. This will be done with three dismissal rounds in June, December and at the end of next year.
Some 100 workers have made use of management’s voluntary early retirement scheme, leaving about 180 to be laid off. An official request for such will be submitted to the Ministry of Social Development, Labour and Wellbeing on May 18, but until that time those involved can still opt for the redundancy package offered.
