Latest update March 28th, 2024 12:59 AM
Nov 05, 2012 Sports
Dear Mr Editor,
I write this letter in response to a letter which was published in the Daily Kaieteur News on Wed Oct 31st 2012 under the caption “Is Banks contributing to football or is it something else?”
Sir, I am a Banks DIH Shareholder for approximately thirty (30) years and a businessman based in the North West District and when I saw that letter in the newspapers I became livid.
I am quite amazed that Banks DIH Ltd is into promoting football, who will benefit.
As a Businessman and a shrewd one at that, it baffles me how some people think and operate. I am not saying they are not to sponsor these activities, it is good for business and public relations but come on man not at that magnitude, maybe the returns would be three (3) fold but who benefits, not the shareholder, I know because I am one.
Doing business in the Interior is a costly exercise and it calls for heavy investment. Transportation cost is high hence the mark up on goods will eventually entail the consumer having to bear the burden.
I sell lots of liquid stuff such as Beer, Malta, Stout, etc, etc. If Banks DIH really cares about us they should channel some of those money and energies towards the reinvigorating of the company. Ansa Mc Al sells Carib Beer, Stag Beer, Mackeson Milk Stout and other stuff in can (tin), it is more convenient to transport those to the interior, but gosh, to transport all those bottles in and out of the interior is so cumbersome and costly.
What they should be doing is trying to modernize the company. Start putting systems in place so that the Banks Products could be marketable, attractive and consumable.
In order for me to survive I have to sell the products of our competitor with some amount of reluctance, but business, profit and losses don’t look at faces or names. The bottom line is dollars.
As a shareholder, I am quite sure that our returns are maybe the lowest in this part of the world, I may have to do a research to ascertain such.
I am not too much into football, I watch it on TV especially during World Cup as a matter of fact, everybody becomes great football fans and critics who knows when the Referees are cheating and when a tackle is a foul and when a foul is not committed.
What I am actually seeing is people using this lovely game to their benefit and by doing so damaging the Sport and eventually the company.
As a shareholder it is my humble view and I refer to the letter, that Banks DIH Ltd should not be supporting the Georgetown Football Association, because I see this as getting back at the Kashif & Shanghai Organisation and they are using the GFA who are none the wiser to enforce their sinister objective. Not because a company loses out on a deal makes it the correct and moral thing to counterattack with such actions.
Did Cable & Wireless after not being with West Indies anymore decided to form a parallel tournament to compete with DIGICEL? Remember this is our money and it should be used, as I said earlier, to improve the image of the company and enhance the quality of its products, not to be getting into a dog fight with your competing companies.
If the Directors were wise and they wanted to make an Impression on the Guyanese Public they should have taken that nine (9) million dollars and put it towards creating a proper facility where International Football could be played and all Guyanese would be proud to say that this was built and supported by a Local Company.
In closing I urge the Directors of this local company to relook at their operating procedures, the other Beverage Company (DDL, Ansa McAl, Busta) are getting away from you, you got to play ketch up.
Shareholder
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
Mar 28, 2024
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