~ Deloitte & Touche demanding NAF. 1M for pre-audit, Minister yet to take a decision on Management Board Members.~
PHILIPSBURG:--- N. V GEBE did not meet the deadline to submit their financial statements to the government while they are expected to pay Deloitte & Touche the company’s auditors the sum of NAF. 1M for the pre-audit they conducted and found that N.V GEBE is not compliant because they have not met the requirements due to poor operations over the past year.
SMN News learned that NV GEBE was supposed to submit their financial statements by June each year to the government of St. Maarten however those statements have not been submitted for 2020. Currently, there is no action taken by the current management board to secure the financial statements for this year.
Besides that, N.V GEBE cannot request loans anywhere since its financial statements are not in place or available. This information is yet to reach the Minister of VROMI and the Council of Ministers.
While the mismanagement continues within NV GEBE, the Minister of VROMI is yet to take a decision on the appointment of the 3 member managing board that has to be ready to take up their positions by October 31st when the current board must vacate their seats because their contract will come to an end.
The Supervisory Board of Directors already submitted six names to the Minister of VROMI Egbert Jurendy Doran, 2 names for each position, namely the Chief Executive Officer (CEO)Chief Financial Officer (CFO), and the Chief Operations Officer (COO). While the Minister has the names for quite some time now and no decision has been taken it is quite possible that these candidates that have to go through rigorous screening may not be in place for October 31st, 2020, while the company is in a financial crisis with its creditors since the current management team did not do what was expected of them to safeguard the company.
It should be noted that it is the Minister of VROMI that is currently in office opted to extend the contract for the current management team with his former colleague Minister Weaver, therefore the Minister knows full well that this management board must exit on October 31st. Sources say the Minister and even his colleagues Minister of the council are undecided even though NV GEBE spent thousands of dollars on a selection process that had over 30 candidates that applied for the 3 positions that will become vacant.
SMN News learned that the Council of Ministers are having a hard time with the selection of the Chief Executive Officer since the two candidates that were submitted are both locals, namely NV GEBE Chief Internal Auditor Dr. Sharine Daniel and Robert Jan James the current Managing Director of SOL.
The candidates that were submitted for the Chief Financial Officer (CFO) Randel Hato who is the current CFO of UTS, Curacao and George Willems the former CFO of APS.
While the names for Chief Operations Officer are Merril Timmer and an unknown Jamaican candidate that is employed by a utility company in his native company. SMN News learned that the Council of Ministers is having a difficult time with the foreign candidate that scored fairly well in the selection process.
