Tag: UWIDEF

Good enterprises suffer for the bad

With the Companies (Amendment) Act 2023 which came into being on April 1st of this year, all companies, including small and medium enterprises (SMEs) are now faced with stricter requirements. They are mandated to ‘appoint an officer who shall be responsible for conducting verification of Beneficial Ownership information’, to confirm the location of such documents and would be liable for fines of up to J$5 million if such arrangements are not put into place.

Attorney-at-Law Camille Facey

Attorney-at-Law Camille Facey of FaceyLaw and Chair of the PSOJ Governance Committee, explained that these amendments “were made in accordance with the recommendations of the Financial Action Task Force (FATF), as Jamaica was in danger of being blacklisted by the FATF. The main revisions relate to the beneficial ownership of companies.”

The FATF comprises 20 countries which, on inspection of countries’ activities in money laundering and terrorist financing, will rate their status. Jamaica is on the FATF ‘grey list’, and we are ‘blacklisted’ by the UK and EU. In order to protect our country’s status, it is said that the amendments were made hurriedly, derived from international legislation and not wholly suited for domestic application. There are now appeals to make further amendments.

Camille Facey shared important points from the current amendments: “Every company must:

•        keep documents relating to members/ beneficial owners for not less than 7 years.

•        notify the Companies Office of where the Register of Members is kept.

•        notify the Registrar of Companies of any changes to the beneficial ownership information, the Register of Members or registered office within 14 days of the change.

•        record the measures taken to verify beneficial ownership information as well as any supporting documents used in the verification process.

The powers of the Registrar have also been expanded to inspect companies and verify beneficial ownership information.”

There have been appeals from MSEs to reduce fines and licensing fees, as these may not only drive them out of business, but also may be a deterrent for the creation of new businesses.

Camille Facey recommends that company officers acquaint themselves with the amended legislation by reading the following on the Companies Office website:

COJ’s Beneficial Ownership Hub: https://www.bohubjamaica.com/

COJ’s Beneficial Ownership Booklet: https://issuu.com/cojadvisory/docs/beneficial_ownership_new_2_

COJ’s Presentation on the Companies (Amendment) Act 2023:

Click to access f4ad2c_5a7575773cd6432f8d28499f85f0b20d.pdf

Many thanks to her for her guidance as she reminds, “there is still liability, whether directors/ officers /employees are not aware; have nothing to do with the collection of information or have taken reasonable steps to ensure compliance.”

Top Marubeni Scholar Rochelle Stephen and fellow Scholar Daniel McGregor (left) in conversation with Mohamed Majeed (2nd right), Managing Director of Caribbean Operations for Marubeni Power International and Damian Obiglio, Senior Vice-President, Marubeni Power International.

Marubeni-UWIDEF Scholars shine

Marubeni Power International in collaboration with the UWI Development and Endowment Fund (UWIDEF) awarded scholarships to five students pursuing Engineering degrees at the University of the West Indies Mona campus: Brianna Smith, Daniel McGregor, Martin McDonald, Dwight Simpson and top performer Rochelle Stephen.

At last Wednesday’s presentation ceremony, Managing Director of Caribbean Operations for Marubeni Power International Mohamed Majeed praised the exceptional quality displayed by the five recipients. “We commend your accomplishments thus far and anticipate the impact you will undoubtedly have as you progress both academically and in your future careers,” he said.

His Excellency Yasuhiro Atsumi, Japanese Ambassador to Jamaica, in his address,

said all Japan stood in support of the development efforts of the Jamaican Government

and people for continued progress. He said he looked forward to many more acts of support for Jamaica’s development both on the part of Marubeni as well as the Government of Japan.

Reynold Scott, Board Director of UWIDEF urged the students to continue to excel, adding that programmes such the scholarship presentation are at the heart of the Fund’s function.

Responding on behalf of the quintet, Rochelle Stephen noted the “life-changing” nature of the scholarship. Rochelle, dressed in black, had lost her mother just a few days after she was notified of her success earlier this year. We wish this brave young lady and her colleagues continued success.

Aloun Assamba in a joyous moment with her son Domonic Strachan.

Farewell ‘Gentle Giant’ Domonic

Women who were not even acquainted with Aloun Ndombet-Assamba poured out their sympathy when they heard that her only child Domonic Strachan had passed away suddenly last month. Those who knew Domonic referred to him as a ‘Gentle Giant’. In a letter of condolence, a fellow parishioner at the Our Lady of Fatima Catholic Church in Ocho Rios wrote of Domonic’s warm hug, saying: “I felt enveloped with love and care.” Domonic’s friends told his mother that he was their ‘rock’, always there for his friends.

We regarded Domonic as an IT geek, setting up systems for various companies, especially before 2000 when everyone was fearful of the ‘Y2K’ virus. At that time, he was in his early twenties and had not yet attended Miami Dade College where he was a student leader. While Aloun was in the UK, serving as Jamaica’s High Commissioner, her mother became seriously ill and required thrice-weekly dialysis.  Domonic quit his business, as digital connectivity was then limited at the family’s Moneague homestead, and with his aunt Eleanor Wood, assisted in caring for his grandmother.

It was then that he started his journey as an innovative farmer and a central figure in the Moneague farming community where he conducted meetings and shared research findings.  Aloun said he used no chemicals. The wasp nests around the Grierfield Great House played a key role in keeping his crops pest-free. His rainwater harvesting methods supplied the house and the farm where he implemented drip irrigation. He was so passionate about influencing others about farming that his farm tours became popular among CCRP seniors and schoolchildren alike.

Aloun related that during the summer holidays, Domonic was keen on ‘making memories’ for his two young sons. “He always spent quality time with them but this summer he went even further, taking them to camp by a riverside in St. Mary.”

We grieve with Aloun at the passing of her extraordinary son whose achievements belie his short 43 years. May his soul rest in peace.

Memorable events

The beautiful Temple of Light was the venue for their seventh annual “Poetry, Prose & Rhythms in the Garden.” Michael Reckord’s ‘Brief Walk Down Memory Lane’ captured the highlights of the previous events. Hosts Dr. Lilieth Nelson and Hanief Lallo guided us through the rich programme featuring poets Dr Michael Abrahams, Rev Michele Synegal and Neto Coard; amazing cellist Emily Elliott and a band that could play on any big stage, Sebastian Miller and Friends. We were charmed by the little ones, showing off in ‘Playing with Fashions’. It was good to see Professor Edward Baugh and Professor Mervyn Morris, ever supportive of our arts and culture.

Last Friday members of the Chinese Cultural Association (CCA) celebrated the Moon Festival at which guest speaker was Dr. Lei Feng, Chinese Director of the Confucius Institute, UWI, Mona.  He shared the legend of the Moon Festival and both English and Chinese poetry evoking the romance and mystery of the moon. We were greeted by President Set Yoon Smith, past president and Jamaican Nobel Laureate Professor Anthony Chen, and Secretary Professor Ronald Young. The evening brought back fond memories of late President Dr Kai Meng Lui.

The membership of the CCA comprises Jamaicans of all ethnicities.

Five UWI students get engineering scholarships from Marubeni

Mohamed Majeed (second right), managing director of Caribbean operations for Marubeni Power International, shares words of encouragement with UWI electrical engineering students and Marubeni scholarship recipients Daniel McGregor (left) and Rochelle Stephen during the scholarship presentation ceremony at The University of the West Indies, Mona campus on September 27, 2023. Also present is Damian Obiglio, senior vice-president, Marubeni Power International.

FIVE students pursuing engineering degrees at The University of the West Indies, Mona campus received a funding boost in their journey courtesy of scholarships totalling US$20,000 provided by Marubeni Power International in collaboration with The UWI Development and Endowment Fund (UWIDEF).

The students, Brianna Smith, Daniel McGregor, Martin McDonald, Dwight Simpson, and top performer Rochelle Stephen, were presented with their scholarship cheques during a brief ceremony at the Principal’s Council Room on September 27.

Addressing the gathering, Managing director of Caribbean operations for Marubeni Power International Mohamed Majeed praised the exceptional quality displayed by the five recipients, highlighting the proven benefits of higher education in enabling individuals to increase their earning power.

Marubeni, he said, was pleased to enable the students to take their rightful place as problem-solvers of the future. “We commend your accomplishments thus far and anticipate the impact you will undoubtedly have as you progress both academically and in your future careers,” he said.

His Excellency Yasuhiro Atsumi, Japanese Ambassador to Jamaica, in his address, said all Japan stood in support of the development efforts of the Jamaican Government and people for continued progress. In praising Marubeni for its generosity in funding the scholarships, the ambassador noted several previous occasions in which the company had given generously to support education, most notably in donating tablet computers to enable virtual learning during the COVID-19 pandemic. Ambassador Atsumi said he looked forward to many more acts of support for Jamaica’s development both on the part of Marubeni as well as the Government of Japan.

Representing the Ministry of Education, National Mathematics Co-ordinator Dr Tamika Benjamin spoke to the growing importance of engineering and other STEM subjects in the modern development model. In congratulating the recipients, she likewise encouraged them to become problem-solvers on the national level and expressed the hope that their performance would in turn encourage greater participation in STEM education.

Reynold Scott, board director of UWIDEF, also urged the students to continue to do their very best, adding that programmes such the scholarship presentation are at the heart of the fund’s function.

Responding on behalf of the quintet, Rochelle Stephen reiterated the “life-changing” nature of the scholarship, adding that she was unable to fully express the importance of being able to continue on their respective educational journeys. She pledged to heed the call for continued excellence and bring honour to the institution, to their families and the nation.

UWIDEF Project Officer Francine Warren-Kidd, who presided over the ceremony, thanked Marubeni and all the partners involved in bringing the scholarship presentation to fruition. The ceremony, she said, marked not the end of the collaboration, but a new beginning.

Marubeni, in seeking to contribute to the development of Jamaica, has been supporting worthy initiatives in a number of areas, education being primary among them.

Source: The Jamaica Observer https://www.jamaicaobserver.com/news/five-uwi-students-get-engineering-scholarships-from-marubeni/

GOOD COMES FROM FLANKER

Inner-city youth balances work & study, earns bursary

uwidef-scholar-odain-murray

Odain Murray collects his University of the West Indies Development and Endowment Fund (UWIDEF) bursary cheque from Margarita Morris, administrator and data officer, UWIDEF.

Final year student of The University of the West Indies (The UWI), Mona, and UWI Development and Endowment Fund (UWIDEF) bursary recipient Odain Murray stands as proof that Flanker — a tough inner-city community in St James — can produce good, educated and hard-working young people.

Murray — who has been on the Dean’s List for the last two years in the Faculty of Social Sciences and now holds a grade point average (GPA) of 3.31 — says while growing up he never gave in to the negative forces in his community, but instead used them as motivation for advancement.

“From seeing what was happening around me and not wanting what was happening around me in my life back then was what motivated me to work hard to get an education,” Murray, 27, told the Jamaica Observer in a recent interview.

Murray aced the Grade Six Achievement Test and was placed at Cornwall College. He successfully completed high school and, in 2007, was accepted to pursue a bachelor’s degree in history at The UWI. He moved to Kingston, but the unpredictable happened — his father died suddenly and he had to put his tertiary pursuits on hold.

“After my father died, I started having some challenges, financially and otherwise, and I had to apply for a leave of absence from UWI in 2009. Then I started working in the performing arts industry,” Murray said.

While working, he realised that there was a huge demand for professionals to strategically market plays in Jamaica. So, he returned to The UWI in 2013 as a part-time student, this time pursuing marketing. UWIDEF has assisted him to continue his studies by awarding him a bursary of $100,000.

“I heard about the bursary while I was at the Philip Sherlock Centre for the Creative Arts. Then I went on the Student Services section on UWI’s website, applied for the UWIDEF Performing Arts Bursary, and I was successful. Being a recipient of this bursary is a good thing for me, especially for someone from the performing arts, because you hardly find this being offered in Jamaica,” Murray said.

“I chose marketing because I realised that the theatre needs proper management with regards to marketing. The new recreational activities most members of our society are drawn to involve parties and not theatre shows. I want to change this. That’s the reason I did not choose music or drama. I chose marketing to get the Jamaican theatre industry out there to a wider audience,” Murray explained.

For nearly two years, Murray has been working as a student assistant in the Marketing, Recruitment and Communications Office on campus, as well as in the performing arts industry.

When asked how he balances his work responsibilities and his school work, he said: “It is a major challenge, but I try to structure my time based on my timetable and when I don’t have rehearsal, I prioritise. I work when I don’t have classes. When it is that assignments are to be completed, I miss one or two rehearsals and try not to stay too late at work. That’s how I balance.”

Murray says he wants to become “a better human being” and when he graduates from The UWI in 2017, he has set his sights on a job with the Ministry of Culture or the Jamaica Cultural Development Commission (JCDC).

He is particularly interested in the areas of policy and business development as it relates to the performing arts.

“The ministry can lobby for new policies and developmental strategies and JCDC has been around facilitating cultural retention for decades, and I could market aspects of our culture which needs promotion,” said Murray.

The young man believes in giving back. Already UWIDEF, his benefactor, has become a beneficiary of his generous spirit. In April, Murray assisted with arranging a benefit performance of Dahlia Harris’

Same Difference, which helped raise approximately $100,000 to provide meals for needy students at the university.

Source: http://www.jamaicaobserver.com/magazines/career/Good-comes-from-Flanker_80282