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  • #1

    Lee Chin urges caution

    Lee Chin urges caution

    Posted: 2008-07-23 13:47:54
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    Chairman of the National Commercial Bank, NCB, Michael Lee Chin has cautioned against the deposit of money in foreign- based financial institutions.

    The NCB chairman says whenever dividends are exported from Jamaica they are never reinvested to help create jobs for Jamaicans.

    He was addressing residents, hoteliers, and other business interests in Portland last night at the official opening of a new banking facility in the parish.

    Mr. Lee Chin said the creation of jobs is one factor that can contribute to the stabilisation of a country’s economy.
    • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.
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  • #2
    On point. Scotiabank alone remits abroad about US$100m a year in dividends
    TIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE

    Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.

    D1 - Xposing Dummies since 2007

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    • #3
      No put the same principle to the broader economy and see why we poor.
      • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

      Comment

      • #4
        Originally posted by Assasin View Post
        No put the same principle to the broader economy and see why we poor.
        what does this mean??
        TIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE

        Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.

        D1 - Xposing Dummies since 2007

        Comment

        • #5
          This only reinforces my point about Ja stuck
          in the days of plantation. Nothing has changed; research our history and you will see how business was done in JA (absentee Master creaming off the sugar profits to Europe). We approch all form of business with this "sugar mentality". Now because of our refusal to enhance human capital; our small but profitable industries are left naked to this new global economy. Time will reveal all that I'm saying.

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          • #6
            Jawge how the man so scarce these days man? HL has been discussing some alternative energy possibilities for JA , I thought you would be all over that discussion as it is the kind of topic you are usually interested in.
            "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

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            • #7
              Perhaps he is alluding to widespread foreign ownership..., and our being overly dependent on anything from abroad.
              At least we have evidence Chin is a nationalist.





              Blessed

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              • #8
                Originally posted by Rockman View Post
                At least we have evidence Chin is a nationalist.
                You sure bout dat? I don't want to be Mr Cynical but some man will say anything to gain some market share, especially with the bad PR that NCB has received from the CashPlus/Olint problems
                "‎It is easier to build strong children than to repair broken men" - Frederick Douglass

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