THE OWNER OF ONE of the largest land banks in Barbados is prepared to work with Government on a continued presence in the sugar cane industry, but executives admit the asset is not contributing to company profits.
Ravi Rambarran, Sagicor International’s president and chief executive officer, told members of the media yesterday during a review of the financial services company’s annual financial results, it had reclassified the 1 000 acres of agricultural land owned by Barbados Farms Limited from “non-performing” to “non-income producing”.
“It is not income . . . . However, it is a major employer and as part of our corporate social responsibility, the management in Barbados is working closely with the Government of Barbados to find a path that is acceptable to both parties without significantly disrupting our communities,” he said. (GE)
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